We need to understand bitcoin and wallets before investing

[Lorence.xD]

Absolutely, If I have 0% information about Bitcoin and I invest in it so of course, I can't earn any profit. But if I have proper Information about it and I invest in Bitcoin so every time I can earn double or triple my profit easily. So, we should collect information first and then invest in it.

This is completely bullshit, you can learn as much as you can since there are many websites that teach about Bitcoin, just spend like 30 minutes everyday. I'm pretty sure even you're completely understand about Bitcoin, you will not able to double or triple your money easily since Bitcoin price is determined by supply and demand. Not through chart, trend, candlestick or something secret.

You've got a good point, however, trends, candlesticks, and anything that indicates a possible price direction can somehow help you to decide or give you an idea when to buy and when to sell your bitcoin. Of course, the price always depend on the demand.
Well, I agree about the guy you've quoted were obviously BS, because I can seldom hear someone even those who have been here for quite some time already that they have doubled or tripled their money "easily".

Many people who started a long time ago in this industry are still learning everyday, cause even if you have gain knowledge and study it for months or years, if you don't know how to implement it there's no way that knowledge would be useful. And those charts, trends, candlestick thing literally have something to do it's price its like a manipulation. It's a fact that Bitcoin were based on supply and demand but some group and institution are using a huge capital to manipulate the market where people could take advantage from it. Some of them have a telegram group (which is not advisable since there's a lot of scammers roaming in TG) so they would give people a heads up that they would do something that can affect the current market. But yeah BS cause for how many years in this industry, doubling and tripling your money is not easy as it they say.

[nakamura12]

It seems you have done some research but you are still lacking knowledge. Trustwallet can be used to store bitcoin which is correct but the question is, does trustwallet secured enough to use?. Many forum members here won't even recommend using trustwallet instead they recommend other wallet such as electrum for example which is much safer to use than trustwallet. I would also recommend you to use other wallet provider. I have been using trustwallet before but I experienced some issues (not losing funds or got hacked).

[Bushdark]

Absolutely, If I have 0% information about Bitcoin and I invest in it so of course, I can't earn any profit. But if I have proper Information about it and I invest in Bitcoin so every time I can earn double or triple my profit easily. So, we should collect information first and then invest in it.

Having knowledge about Bitcoin does not guarantee you of earning at all. There are people that have so much understanding about the Bitcoin network and still yet they are not earning from it. For you to earn from Bitcoin, you must invest what you have and the more money you invested the high chances of you making some good profits from the market.

 The rich people are the ones that have the capacity to earn big from the market because they have the funds to invest has much as they want into the market buying large holdings of Bitcoin that could be very difficult for an average person to buy.

[blue Snow]

Point 3
What bitcoin investors needs is a proper research by the person concerned so that the person will get the full gist of bitcoin before investing its funds, I know what's bitcoin since 2014 and I knew that during creation of what I have to write down my seed phrase and document it, so after opening a trust wallet and I purchased bitcoin through luno platform with the directions of the person that introduce me to bitcoin and everything concerning the wallet was written by him and after two months I misplaced my mobile phone and that is how misplaced my bitcoin, when I asked my instructor of way forwards of retrieving my bitcoin he said since I have lost my phone its the end of my bitcoin

Sorry about your loss. And after reading all your posts above, I got a point in what you want to introduce. Yes, in Bitcoin, if newbies want to save the investment for sure, they must learn first how to save Bitcoin on their own wallets. Sometimes, they think this is not important because is very wash time to learn it. Because they not as tech-savvy make they think also if create the own wallet with own key is difficult, however, if they learn it properly, they can easy to create with only 1 hour.

[hd49728]

Yes, in Bitcoin, if newbies want to save the investment for sure, they must learn first how to save Bitcoin on their own wallets. Sometimes, they think this is not important because is very wash time to learn it. Because they not as tech-savvy make they think also if create the own wallet with own key is difficult, however, if they learn it properly, they can easy to create with only 1 hour.

They can be taught to not save bitcoin on exchanges, in custodial wallets, in online accounts. It's hard to convince newbies to be careful but as lecturers, mentors, it's the only way to help newbies who are responsible for what they do after listening to free lecture, conversation or meeting.

Reminder: do not keep your money in online accounts

It is a good beginning but not enough. Newbies must backup their wallets (private keys, mnenomic seeds, wallet passwords) for recovery in future.

The paranoid user's security guide for using Electrum safely.
How to Safely Download and Verify Electrum

Be careful when using mobile devices to store bitcoin.
WARNING when using mobile device wallets (Android, iOS)

[legendbtc]

Absolutely, If I have 0% information about Bitcoin and I invest in it so of course, I can't earn any profit. But if I have proper Information about it and I invest in Bitcoin so every time I can earn double or triple my profit easily. So, we should collect information first and then invest in it.

Having knowledge about Bitcoin does not guarantee you of earning at all. There are people that have so much understanding about the Bitcoin network and still yet they are not earning from it. For you to earn from Bitcoin, you must invest what you have and the more money you invested the high chances of you making some good profits from the market.

 The rich people are the ones that have the capacity to earn big from the market because they have the funds to invest has much as they want into the market buying large holdings of Bitcoin that could be very difficult for an average person to buy.

Knowledge is like your weapon when you step into the battlefield, winning or losing depends on how you use it, not entirely on it. Even if you have the most advanced weapon on hand, if you can't maximize its power and lose, it's your fault, not the weapon's fault. Knowledge is money, many people have no money in hand, no inheritance...but they have knowledge and they use that knowledge to create money for themselves. If you have knowledge about the market, earning bitcoin is not too difficult.

[RockBell]

Absolutely, If I have 0% information about Bitcoin and I invest in it so of course, I can't earn any profit. But if I have proper Information about it and I invest in Bitcoin so every time I can earn double or triple my profit easily. So, we should collect information first and then invest in it.

Zero knowledge means zero profit finding yourself in that environment alone you have to be smart in making decisions and one wrong decision can cost you, even with having proper knowledge you can still lose money compared to not even having knowledge at all too risky to think, experience helps will trading and we should not forget that every business have there own risk and bitcoin is not excepted so let us be guarded, not disputing the fact of making a profit

Having knowledge about Bitcoin does not guarantee you of earning at all. There are people that have so much understanding about the Bitcoin network and still yet they are not earning from it. For you to earn from Bitcoin, you must invest what you have and the more money you invested the high chances of you making some good profits from the market.

 The rich people are the ones that have the capacity to earn big from the market because they have the funds to invest has much as they want into the market buying large holdings of Bitcoin that could be very difficult for an average person to buy.

That's what answered Bitcoin is complicated to think you can invest and start earning, about bitcoin then I don't believe in luck when the time is right everything will fall in place, and even while making a profit some strategies have to be adopted, to always take profit. and once the understanding is there things are easy and security should be taken seriously also, the aspect of investing more money more profit true but lets invest what we can afford before you start hearing taking of loan to invest in bitcoin. you can always, its better to always buy when it is convenient for you.

[so98nn]

Above 70? Nah? Let them live their remaining life peacefully and choose everything as per their own needs. I think if they already hit the last phase of their lives then they have definitely it’s gonna be hard for them to understand what we are talking? I think we should not even try it because it would take them on the road that they never imagined.

On the other hand I would also suggest not to teach anyone of any age group as long as they are not willing to do that themselves.

It is fine to add everything in the educational system and let the new generation understand what it is and if they are willing to chose that side then they will go with it. That’s how it should be, natural way!

[skarais]

The sequence will probably be the same as most users assume, but I think before you decide to invest in bitcoin, you need to prepare yourself in advance for a few things like the following:

• Find out as much information as possible about the asset you want to invest in.
• Learn how to get them and how to spend them
• Get the best wallet to store it safely
• Build mentality, psychology and improve your skills in risk management.
• Meanwhile, you also need to prepare yourself to have an emergency budget instead of investing all your budget in bitcoin.
• Diversify, not necessarily about owning more different assets but also by not keeping your bitcoins in one wallet.

[coinremitter]

Understanding Bitcoin and the use of wallets is indeed crucial before investing in cryptocurrencies. Bitcoin can be a valuable asset, but it's essential to educate oneself and others properly.

Teaching older generations about Bitcoin can be beneficial, but it's important to consider their individual circumstances. Bitcoin investments are often seen as long-term assets, making them more suitable for younger individuals. However, older individuals can also invest in Bitcoin, provided they have a clear understanding of the technology and its potential benefits.

It's vital to provide comprehensive information about the positive and negative aspects of Bitcoin investment. This ensures that potential investors are aware of the risks and rewards associated with cryptocurrency.

Proper research is essential for anyone considering Bitcoin investments. Learning about concepts like seed phrases and secure storage is crucial to safeguarding your assets. Misplacing Bitcoin can be costly, so it's important to take precautions and stay informed.

https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks , a crypto payment gateway, can help facilitate secure and convenient cryptocurrency transactions. Coinremitter's services can be a valuable resource for those looking to handle cryptocurrency payments.

[KiaKia]

This is one of the reasons why money isn't everything, if someone introduce you to crypto you need to learn from them in time, but people this days, once they hear that its possible to make money out of something they will dive into it straightaway without any questions and concerns first, crypto is a no-nonsense land, it gives no face for anyone who are not ready to put their money somewhere first and give their whole self into learning about crypto, they will always get burned if they are not ready to learn.

Crypto is unforgiven for everyone who aren't ready to learn, because there are more than dozens of places where you will surely make mistakes or fall victim to scams, it's inevitable for people who don't want to learn, and that's why we see some people calling Bitcoin names, instead of taking the blame on themselves.

I was so ready to make all the mistakes but my main focus is practicing everything myself, and I did end up with some losses but later I started to realize that it is better to devote your time and energy on learning first, until you are sure to handle things yourself.