First buy Bitcoin as a newbie, good way to start.

[yudi09]

-snip-

I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research,  and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.

-snip-

Storing Bitcoin in a personal wallet and not on an exchange is correct. Even if you feel that you are correct in how you store the key or seed phrase, according to experience, efforts to store the key must be reviewed every time to ensure that the method of storing the key has been proven correct.
The bitcointalk forum provides a lot of knowledge for those who are active and serious about getting knowledge about the things they want to get.
Not specifically for beginners, those who are no longer beginners sometimes cannot feel the benefits of this forum if they are not serious about making the forum a space to gain knowledge about Bitcoin and other things that are available in various discussions.

[Bitcoin_people]

The best investment for beginners is to invest and hold Bitcoin. We have seen many cases where many investors got hurt and lost money by investing in altcoins. That's why these things are important for those newbies to know when they are interested in investing. When interested in investing they need to acquire good knowledge and the best and profitable way to invest in Bitcoin. If one plans to invest in any altcoins other than Bitcoin, one will surely suffer in the future. Of course, these are the most important things to a new investor, who should start with Bitcoin when he starts his investing journey. And before investment, it is necessary to know better about the wallet, it is important to know where the money will be safe, and we all know the risk of keeping money in the exchange, so we should use a wallet with security. It is most important to invest bitcoins in a good wallet and keep its keys in a diary or a safe place for maximum security.

[blckhawk]

The best investment for beginners is to invest and hold Bitcoin. We have seen many cases where many investors got hurt and lost money by investing in altcoins. That's why these things are important for those newbies to know when they are interested in investing. When interested in investing they need to acquire good knowledge and the best and profitable way to invest in Bitcoin. If one plans to invest in any altcoins other than Bitcoin, one will surely suffer in the future. Of course, these are the most important things to a new investor, who should start with Bitcoin when he starts his investing journey. And before investment, it is necessary to know better about the wallet, it is important to know where the money will be safe, and we all know the risk of keeping money in the exchange, so we should use a wallet with security. It is most important to invest bitcoins in a good wallet and keep its keys in a diary or a safe place for maximum security.

That's because those people that bought altcoins as a beginner wanted to try something different, they probably saw bitcoin to be a little bit intimidating especially in prices so they want to make bang for their buck and try cheap shitty altcoins so they can have the illusion of getting the right value for the money that they've invested. I totally agree that bitcoin is the best investment for beginners maybe even veteran investors because of how powerful the influence that bitcoin has and it's ability to continuously grow despite resentment from many traditional investors.

you can also try what the others have done, they quit their bad habits and convert into bitcoins instead. we have such wonderful stories as the one who quit smoking and used the money he spent from that to buy bitcoins and he hit the jackpot when he reached the bull runs with months of preparations when he bought those bitcoins at its lower price. It's not always need to start with a big amount rather with constant investment in a small amount, you will build a legacy in your investment when you hit the jackpot like him.

This is actually an awesome thing and a heartwarming one, converting the money you could've spent on your vices into bitcoin is something that not a lot has think of in terms of recovering from your bad habits.

[HajiBagi]

Never invest in anything that you have zero knowledge even if it's Bitcoin.

Nice talk, buddy. This is something that some beginners should know before doing anything related to bitcoin or investments. A lot of beginners find it hard to comprehend bitcoin since they invest in it without knowing anything about it. Having a wallet and investing in bitcoin does not, for a novice, imply that you are an expert in the field or that you can handle your coin. You will need to learn more in the forum about how to conceal your wallet's secret keys and how to hold onto your coin so that, even in situations where your instinct tells you to sell it for no profit, you shouldn't.

The reason why some beginners find it hard to understand bitcoin is that, when they first learn about it, some do not ask questions; instead, they assume that investing in bitcoin will make them money; some believe that investing in bitcoin is the best way to become wealthy quickly; others invest in bitcoin for more than three or four years without selling it. As a beginner, you must realise that not every time bitcoin profits increase; it depends on the time.

[jrrsparkles]

Never invest in anything that you have zero knowledge even if it's Bitcoin.

Nice talk, buddy. This is something that some beginners should know before doing anything related to bitcoin or investments. A lot of beginners find it hard to comprehend bitcoin since they invest in it without knowing anything about it. Having a wallet and investing in bitcoin does not, for a novice, imply that you are an expert in the field or that you can handle your coin. You will need to learn more in the forum about how to conceal your wallet's secret keys and how to hold onto your coin so that, even in situations where your instinct tells you to sell it for no profit, you shouldn't.

The reason why some beginners find it hard to understand bitcoin is that, when they first learn about it, some do not ask questions; instead, they assume that investing in bitcoin will make them money; some believe that investing in bitcoin is the best way to become wealthy quickly; others invest in bitcoin for more than three or four years without selling it. As a beginner, you must realise that not every time bitcoin profits increase; it depends on the time.

My statement applies to every investor irrespective of cryptos and there is no need to learn in-depth about bitcoin but a basic understanding of the technology is mandatory even if it is Bitcoin then only it is possible to avoid scammers, hacks, and so on.

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

[Questat]

My statement applies to every investor irrespective of cryptos and there is no need to learn in-depth about bitcoin but a basic understanding of the technology is mandatory even if it is Bitcoin then only it is possible to avoid scammers, hacks, and so on.

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

Well, that is true as we don't need to dig deeper because our intention is to just buy and hold unless we are trading.
Unfortunately, what happens is the big opposite, most people come and invest blindly and then start to learn about Bitcoin after, sometimes when they lose. In fact, the things needed are to know what wallet to use, market timing (buy and sell), and how to keep our funds safely. That is pretty simple but as I've said, most of us just learn after committing mistakes and suffer losses.

[jrrsparkles]

My statement applies to every investor irrespective of cryptos and there is no need to learn in-depth about bitcoin but a basic understanding of the technology is mandatory even if it is Bitcoin then only it is possible to avoid scammers, hacks, and so on.

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

Well, that is true as we don't need to dig deeper because our intention is to just buy and hold unless we are trading.
Unfortunately, what happens is the big opposite, most people come and invest blindly and then start to learn about Bitcoin after, sometimes when they lose. In fact, the things needed are to know what wallet to use, market timing (buy and sell), and how to keep our funds safely. That is pretty simple but as I've said, most of us just learn after committing mistakes and suffer losses.

Most of them don't even learn from their mistakes and still feel that short-term investments aka get rich quick is the theme for investing in bitcoin which isn't always the case. Of course, it is possible to make more money by doing short-term/intra-day trading but consistently being successful is not possible in trading so their ultimate goal short be a long-term investment or at least 4 years.

[freedomgo]

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

That's the usual hype when the market goes bullish. It's why so many people fall into FOMO, thinking Bitcoin will bring them quick and hefty returns in no time. But without the right investment strategy, we won't make money during a bull market. We often fail to make the right move because of our own greed. Sometimes, we hold onto assets even when we've already made a decent profit because we keep thinking 'more.'

That kind of mindset can lead to regrets in the end. We need to be clear about our goals, whether it's for the long term or short term, as each requires a different investment approach.

[jrrsparkles]

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

That's the usual hype when the market goes bullish. It's why so many people fall into FOMO, thinking Bitcoin will bring them quick and hefty returns in no time. But without the right investment strategy, we won't make money during a bull market. We often fail to make the right move because of our own greed. Sometimes, we hold onto assets even when we've already made a decent profit because we keep thinking 'more.'

That kind of mindset can lead to regrets in the end. We need to be clear about our goals, whether it's for the long term or short term, as each requires a different investment approach.

Investment strategies and all others are secondary. first the person should be having basic understanding level of bitcoin like its decentralized p2p system, price based on demand/supply chain like that and also its high volatility, bullish/ bearish can be extreme compared to traditional investments.

[Kelward]

I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research,  and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.

This paragraph I quoted actually explains that you weren’t a total newbie before buying your first bitcoin you might have read about them before or some guided you, because a total newbie wouldn’t be aware that it is bad not to store coins on exchanges. In fact most newbies uses exchanges as their first wallet because the lack the knowledge. So for a total newbie they wouldn’t just jump into buying bitcoin yet but rather sort after knowledge on where to get and how to do it. They also need gain knowledge about wallets and which is what and why they should install any. So with this informations lacking at first, it is bad to acquire bitcoin then.

So with that knowledge stated above, you can stick to only bitcoin and grow your knowledge before going out on Alticoins because they need extensive knowledge to do there personal research

I'm in agreement with what you said, because if OP doesn't have any knowledge about bitcoin, then how did he come to know about holding and accumulating bitcoin. Contrary to what he advised I'd have newbies to learn about bitcoin first, at least have some basic knowledge about it before investing. I didn't have any bitcoin experience when i opened my first wallet, i didn't even know the importance of seed phrase, i thought that they're part of the process to open a new coinomi wallet. I started to accumulate bitcoin inside the wallet, it was when i wanted to sell that I realized that I'd misplaced the passwords, anything that i tried to alternatively use the seed phrase to open the wallet it'd tell me that i should check if i misspelled any word. I got frustrated and just stopped  trying. I still have the wallet, but i might not be able to send bitcoin, ever from it. If I've had a proper knowledge of bitcoin, I'd have known the importance of seed phrase, and not be ignorant about it.

I want to use this opportunity to ask if anybody on this forum that uses coinomi wallet, has had this experience of trying to use seed phrase to send bitcoin, and the wallet is saying that the person should check for me misspelled word? I'm asking because i believe that it's the correct seed phrases that i copied and they're in the correct order.

[freedomgo]

But how most newbies are coming is they see random YouTubers saying bitcoin will reach this much in the next 6 months so buying bitcoin will not make them as an investor but simply they are forced to influence by someone without knowing what they are about to invest.

That's the usual hype when the market goes bullish. It's why so many people fall into FOMO, thinking Bitcoin will bring them quick and hefty returns in no time. But without the right investment strategy, we won't make money during a bull market. We often fail to make the right move because of our own greed. Sometimes, we hold onto assets even when we've already made a decent profit because we keep thinking 'more.'

That kind of mindset can lead to regrets in the end. We need to be clear about our goals, whether it's for the long term or short term, as each requires a different investment approach.

Investment strategies and all others are secondary. first the person should be having basic understanding level of bitcoin like its decentralized p2p system, price based on demand/supply chain like that and also its high volatility, bullish/ bearish can be extreme compared to traditional investments.

I get it, even though it might be considered secondary, it should actually be a priority. Anything labeled as 'basic' is supposed to be easy to understand, but the real challenge comes when deciding which strategy to use for successful cryptocurrency investment. This can be quite complicated for newcomers, and in the early stages, they tend to make mistakes. If they start with aggressive risk-taking, they might not recover their losses and end up unable to continue investing. So, we have to understand that in this highly volatile and unpredictable market, a proper approach should be implemented on our part.

[Rengga Jati]

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.

Every first step that begins with full awareness and thorough preparation, especially a good understanding of Bitcoin investment, will of course be more valuable. It's not just about how much we will earn later, but the courage to take this step is actually not easy and this is a determining factor. However, this might be different when we start without good preparation. Because having money alone is not wise enough to invest in Bitcoin. There must be a balancing of other things, especially related to good knowledge for investing in Bitcoin, so that we don't end up regretting it later because of our lack of understanding in Bitcoin investment.

Basically, Bitcoin is a very worth it investment, in my opinion, especially when compared to altcoins which in fact are all in almost the same condition and in the end are smaller or even end up being shit coins. For this reason, Bitcoin has always been the main investment destination in the cryptocurrency world. And this is well known everywhere. It's just a matter of whether we are brave and ready to invest in Bitcoin with all the risks that may occur. If you're ready, that's it, but if you're still in doubt, it's better to be firm in your intentions. By starting to buy Bitcoin for investment in crypto, of course it will be even better when compared with investing in altcoins for the first time.

[Obari]

Bitcoin just as a member once called it a save haven for investment is absolutely  correct especially  when comparing to other cryptocurrencies. I've always loved the idea of earning while learning and if you must take the path of earning while learning, then it should be with bitcoin because altcoins over the years have been termed gambling and it wouldn't be wise to advice a newbie to get into altcoins especially when trying to learn.

[Rockstarguy]

Most of them don't even learn from their mistakes and still feel that short-term investments aka get rich quick is the theme for investing in bitcoin which isn't always the case. Of course, it is possible to make more money by doing short-term/intra-day trading but consistently being successful is not possible in trading so their ultimate goal short be a long-term investment or at least 4 years.

The truth is that people know how risky and dangerous investing in short-term coins but they still want to take the risk because of greed. Short-term investment is something many investors have loss all their money while investing in it, but still people don't learn from all this mistakes. It will be too bad for someone to lose investing in meme coins, bitcoin is the best investment anyone can think of to invest in because of how reliable it is in the market.  Before now bitcoin price was very low which made some people to think that Bitcoin will crash but bitcoin was able to survive in the market.

[KingsDen]

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.

.

Anyone that wants to get some fractions of bitcoin will always get it as opportunity to buy must always present itself. There's no point rushing into what anyone doesn't understand, it is a bad advice. You should rather advice newbies to first understand bitcoin, how to buy and how to save and then learn to do their own research before buying bitcoin.

My first time of buying bitcoin was when I was scammed, I didn't really know about the forum then. But when I finally know about the forum, I wasn't in a haste to buy bitcoin. Infact, will it interest you to know that any amount of bitcoin I own today all came from signature campaigns. So, with my weekly campaign payment, it was easy for me to DCA and buy bitcoin passively at my pace

[Winterfrost]

So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way.

This statement is wrong, its better to wait and not buy any Bitcoin till you have good knowledge than buying when you have little or no knowledge about it. Bitcoin is not a video game you can buy and later you start learning how to play it. The market is extremely volatile, seeing those red and green candle a newbie knows nothing about what do you expect them to do. Surely if they ignore the process of learning then move to start investing they will crash their investment along the road.

Newbies should learn first and not Invest first hoping to learn along the way. This is my candid advise, newbies should not have fear of not participating in Bitcoin early ir missed opportunities. One can only be happy in investing when they know their investment strategy and storage is safe.

[Antotena]

I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research,  and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.

So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.

Not a bad step to start bitcoin but from my own perspective, it is not the best. Today, we have more numbers of people that live their coin on exchange after buying them and the reason why this has not stop till date is because they don't have first hand orientation about bitcoin and the dangers of keeping coins on exchange. Even when there are multiple hacks last year of FTX and other centralized staking platforms, people have resumed buying and leaving their coins on exchange and the bull run returns, more of them will repeat the same thing until another hack happen again but I don't pray for that.

If today many people understand some of the values of bitcoin, they will not sell their bitcoin after a chicken profits, and that is because many of them don't read, they don't learn. They come and when they get some line of information about bitcoin on how it has changes some people life, they rush and buy and wait for it to mature and then sell. Is that what bitcoin is meant to be? These happens because they don't have proper information, what most of the newbies need is good path to invest in bitcoin before buying bitcoin later.

[Adams0001]

So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach,

Buying before doing research is never a good idea, especially not with Bitcoin which has certain common pitfalls like keep coins on exchange, losing the backup, downloading a fake wallet, etc. But the amount of knowledge required to invest in Bitcoin is greatly overestimated. All that people NEED to know is the basics of how to not lose their coins and why they should just hold for long term and wait. That's it, there is no "journey" or "learning", more advanced topics aren't really needed for investors.

Exactly is a bad idea to buy something that you don't have knowledge on because in the process you can lose your fund when buying, so is better you have full knowledge about bitcoin before you invest or do anything like trading, bitcoin is the best investment you can invest and be comfortable that you can get profit when you leave it for long term but your statement details failed because without knowledge no one can know how bitcoin operates so is better some one has full knowledge about bitcoin before you invest or do and be confident that you can profit when you leave it for a long period of time, but your statement details failed because without knowledge, no one can understand how bitcoin works, so it is better that someone talks about how to leave it for a long period of time, some advantages and disadvantages, and get more ideas about it rather than saying something else that will not benefit anyone, because when I started my bitcoin journey, I concentrate about it very well before I started my investments, and I learn things about bitcoin in https://learnmeabitcoin.com. without bitcoin I don't know how our life will be now thanks for Satoshi

[Renampun]

I know to lot of people, who may have invested money into the wrong investment platforms outside of Bitcoin but pirade themselves as Bitcoin investment may misunderstand the title of this thread, but that is the truth, and the best way to start your Bitcoin journey.


I use myself as an example, be for I started to acquire knowledge about Bitcoin, I first bought some amount of Bitcoin and held it in my personal wallet, not an exchange wallet, and I had my wallet keys properly saved, and after that, I became more active innthe forum and reading comments and posts and doing other bitcoin related research,  and that made it easy for my to accumulate more bitcoin while studying, and this has helped me in much greater ways and I thought it could help others here, most especially newbies.


So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.

The method you suggest is very good for beginners who don't have any experience or confidence in Bitcoin at the start, however, convincing yourself to invest in Bitcoin is not an easy matter, so learn slowly while continuing to practice yourself by buying Bitcoin using the DCA method is a wise thing. Apart from that, all beginners investing in Bitcoin who also know this forum should be grateful because being deeply involved in this forum can increase their confidence in Bitcoin investment. Bitcoin has never made anyone lose, so for all beginners, don't be afraid to start investing in Bitcoin.

[Hewlet]

if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn.

I doubt I share the same view with you regarding this. What you are trying to say is just like telling someone to get married to a person before getting to know that person or telling an employer to employ someone he knows nothing about and after he has employed the person, he can now start finding out things about the person while the work is on.

In as much as I believe that bitcoin knowledge isn't complete without investing in Bitcoin, I feel you should have at least some level of knowledge about bitcoin before thinking on investing into bitcoin. And I even doubt anyone would want to invest into something he knows little to nothing about. I will even see such invested as an uncalculated risk as it has high chances of not yielding the desired result as the investor might want.

Also know that if the person doesn't a good knowledge on best practices when it comes to bitcoin investment, he might invest his whole fortune thinking that it's a get rich quick scheme and might have serious tension on himself when he sees any sort of negative fluctuation in the price of bitcoin.