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Author Topic: I hope I'm doing the right thing.  (Read 581 times)
arjunmujay
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May 13, 2024, 05:57:42 AM
 #61

There have been a lot of explanations already. But did we notice that the OP has not written a single word yet? I don't think he is interested in investing a penny in Bitcoin. He just wanted to create a thread and ask some questions with the hope of getting some merit. The OP was active yesterday, and he joined other conversations in different threads, but he did not come back to his own thread to check what people were writing to it. This clearly shows that he is not interested at all. Some of us even wrote some long essays with the hope that OP will read them and will get some benefit from our experience. Haha.
Maybe what you say is true, even though we are here to sincerely provide an explanation of what the OP asked. and if you look closely at every post made by other users, it can really open your mind to good investments.
but I also don't really hope that I can respond one by one, especially if you look at the rank of the OP who is still a newbie, so it takes a lot of knowledge and experience on how to discuss in forums and how to end the threads he creates.

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May 13, 2024, 08:45:45 PM
 #62

It's really good to ask questions about something you don't know or aren't sure of, to avoid unnecessary mistakes, one needs to be patient and not rushed into doing something you will regret. Though some people rushed into doing something they are not sure of the outcome because of other people's stories about that very thing so they might be so desperate to get to that level ignoring the circumstances because they just want be get there, disregarding the fact that grace varies.
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May 14, 2024, 05:51:15 AM
 #63

How did you guys invest in bitcoin as beginners. What was your experience with the market volatility? A lot of people talk how investing in Bitcoin is good but risky, i don't want to rush to invest  bitcoin. I need to be very sure of what I'm planning to go into. I don't know if I am making the right decision or I'm too sluggish to invest. I'm not really convinced maybe because I don't know much. Do you think this delay is good for me? I believe it is good for one to be  sure and understand anything that involves money.

You did an excellent job by asking this question. In my opinion, the first step to take before investing is to thoroughly understand what you are investing in and the risks involved before putting your resources into it. The reason most newbies struggle with their investments is a lack of sufficient understanding because they view bitcoin investment as a get rich quick scheme, so they jump in without thinking and end up regretting.

Much has been said regarding market volatility and the risk of bitcoin, but let me add this from my little knowledge. Avoid using a custodia wallet to store your bitcoin investment because it is one of the risks of bitcoin investment. Instead, I recommend that you store your investment in a non-custodia wallet, which will give you full control of your assets because you will be able to hold your private key. However, make sure you save your private key in a secure place or where no one will be able to access it because if you lose your private key, you will lose all of your assets.
People say that if you don't want to take risks, you shouldn't invest in bitcoin, but this shouldn't be one of them.

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May 14, 2024, 09:27:52 AM
 #64

It's really good to ask questions about something you don't know or aren't sure of, to avoid unnecessary mistakes, one needs to be patient and not rushed into doing something you will regret. Though some people rushed into doing something they are not sure of the outcome because of other people's stories about that very thing so they might be so desperate to get to that level ignoring the circumstances because they just want be get there, disregarding the fact that grace varies.

That is the common mistake most people normally do, trying to imitate what others are doing.  though imitating sometimes is not bad but you need to be very sure of what you're doing so that you won't regret at last,   just like this crypto investment you need to have the full knowledge about crypto investment and also you need to understand the market very well before looking out to make investment so that to avoid losing your money.

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HajiBagi
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May 14, 2024, 01:35:14 PM
 #65

How did you guys invest in bitcoin as beginners. What was your experience with the market volatility? A lot of people talk how investing in Bitcoin is good but risky, i don't want to rush to invest  bitcoin. I need to be very sure of what I'm planning to go into. I don't know if I am making the right decision or I'm too sluggish to invest. I'm not really convinced maybe because I don't know much. Do you think this delay is good for me? I believe it is good for one to be  sure and understand anything that involves money.

You are doing the right thing by trying to understand what Bitcoin is before investing, the reason why people said it is good but luck because it’s an investment that is unpredicted, and also an investment that you don’t know the outcome of, whether you will get profit in the time you need it or not, people say that because they want you to understand what bitcoin is talking about, bitcoin is not just an investment that you will rush into Because you hear that there is a lot of profit in it, I know that everyone will like to invest in bitcoin when they hear that there’s a lot of profit but as a good investor make sure you understand the word bitcoin and also ask for more knowledge about it, I will also advise you to invest in bitcoin when you want to invest but make sure you know more about it so that you won’t get scammed or lose your money in the process, and if you learn and understand it you, will thank people who advise you later at the end when you are having a good time of your investment.

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Ricardo11
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May 14, 2024, 02:29:32 PM
 #66

Remember that every investment involves risk. You must first learn how to manage risk, the Bitcoin market is always volatile, its value can go down at any time and its value can go up at any time. The only one who can hold without panic during this price rise and fall will be able to benefit. But it definitely needs a long time, you can't get rich quick by investing in Bitcoin, you must hold for a long time. And remember the bigger the investment portfolio, the more profit you can get. You can invest regularly using the DCA method on a weekly or monthly basis, every dip should be seen as a buying opportunity, you should buy as much as possible while the price of Bitcoin is low. And from then on you should conduct the DCA procedure. Bitcoin price currently low, if you can afford it, invest now, then continue investing using the DCA method, holding long, and reaping the profits after reaching all-time highs.

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May 18, 2024, 01:39:42 PM
 #67

Quote from: martinex
Investment is just relaxing, OP. Follow your heart and follow the pattern of people who have successfully lived, quite a lot of options and opportunities are given today in the crypto market. if you like BTC, buy and focus on the long term. Even if you come with a choice other than BTC, there is something you should know, the durability of BTC is tougher than other cryptocurrencies.
You don't need to be an hurry to join investment, when you don't have the idea, first achieve the idea before you will begin to follow people partner to achieve your goal because people use to buy coins when their price is low and hodl till their price is high before they can sell to make profits.

BTC still remain the king among other cryptocurrencies, which if you invest in BTC today, you will going to earn double profits in your investment in the future because it use to break into a new ATH every 3 or 4 years which many hodlers has experienced $73k as the highest price so far in this industry.  

When you are doing the right thing in the industry, you will know because you have achieved the skills that will lead you through out the investment to become a successful investor.

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