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Author Topic: Can a newbie make investment before learning?  (Read 568 times)
Adams0001
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May 09, 2024, 12:10:38 PM
 #21

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
Hmm, from the title itself? like investing on Bitcoin, you can do that in the beginning with little amount and buy to let's say in a exchange. And then try to study and learn it later and see how it goes for you. I mean like buy worth of $50 as your entry level and watch the market and at the same time educating from it. And obviously, the best community is where you are right now. You can either ask questions or just go search as there are a large of knowledge base here in this forum. The problem though with some beginners is that they didn't do the research first, as their questions might have been answered a thousand times already.

but in my on opinion, It is preferable that you understand anything before risking your finances on any investment, because some investments, even if you invest, will not provide a profit if they lack value, and if you do not have a thorough understanding, you will not be able to determine which investments are worthwhile to do. Bitcoin is a good investment for individuals who know about it. If someone invests in it and doesn't know anything about it, I will say he is doing the right thing since I believe in bitcoin and will most likely be lucrative.  However, it is better for him to grasp anything about it before he engages in it, so that any problems that come you will not surprise any challenges that comes you can handle that he won't surprise you because you knew is volatile the price is not stable.  in investment if you don't have knowledge on the investment you want to start you can't succeed on it and you will lose enough funds that is why you should get better  knowledge on something first not to invest before looking for the ides about it.

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May 09, 2024, 12:30:27 PM
Last edit: May 09, 2024, 07:34:18 PM by Kristiyana
 #22

Making investment before learning? Is totally wrong is only someone who don't know the value of money that will take such risk, well most people will not consider it been risk. is always advisable to learn before making any move you don't have to invest on something you don't even have any idea about, actually I think it happens most time a newbie can decide to invest maybe after experiencing lose that's when he will seek for help from high ranked members.

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May 09, 2024, 12:40:42 PM
 #23

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie


From what I have read this few days I located the forum I don't think it is proper to initiate any investment without following the due process which is having a proper knowledge for what ever you want to invest in, bitcoin investment and any other investment requires adequate knowledge before choosing to think of investment otherwise the investor will have him self or her self to be blamed because there's no way the person won't lose everything either in the hands of scammers or getting involved in wrong investment.

Op you just answered the question correctly by knowing that it is good to get good knowledge before thinking about purchasing bitcoins so yes for newbies like us, we should learn to get knowledge first before thinking of investing in anything not just bitcoin alone.
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May 09, 2024, 04:14:08 PM
 #24

First of all, you should know what you are investing in before putting your money into it. If you don't know anything about Bitcoin, its history, or even the volatility, you will probably be heading towards many surprises in the future. Sure, you can just speculate, and many people do it. But at that time it's more of a gamble. Serious people with serious investments carry out research before they let go of their money.

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May 09, 2024, 05:55:56 PM
 #25

As on my own opinion alot of newbies have fallen in to hand of scammers
But in my opinion, they fell into the hands of scammers because of their excessive gullibility and lack of foresight.

because of their insufficient knowledge about Bitcoin
What stopped them from figuring out the basics of buying and storing bitcoin? Google / this forum not working for them?

so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment
There is nothing complicated about investing in bitcoin that you need to understand: buy low - sell high, remember bear and bull markets, 4-year halving cycles, and otherwise bitcoin shows constant growth in the long term (if briefly describe).

Beginners may have difficulties at first with securely creating a wallet, completing transactions taking into account the favorable fee and the necessary time to process the transaction. That is, those nuances, knowledge about which is gained very quickly with experience, you just have to try and start.

to avoid been scammed of your hard earnings
To avoid this, remember a simple rule: don't tell / show anyone the seed phrase of your wallets and do not send cryptocurrencies.

Take your time learn and implement before you inter market or make any investment as a newbie
In any action, before you start anything, you should understand and figure out how to do it. It’s the same with investments in crypto. Once you have studied the guides on what and how to do (creating a wallet, buying crypt, making a transaction) then you entered the crypto market. It’s just the first step that seems difficult.

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May 09, 2024, 06:22:44 PM
 #26

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

What are you investing when you have no idea on what to do, you're just going to make waste of your time, efforts and money on such investment because you're likely not to make it the right and expected way, we often advice that everyone interested to make investment in crypto as a newbie should first seek for the knowledge at all cost because that will be the first guide against any form of losses they may encounter and in other for them to be able to withstand them.
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May 09, 2024, 06:24:52 PM
 #27

Quote
Can a newbie make investment before learning?
Honestly it all depends with your risk appetite!!
For starters we have People who have gone into investments without the right knowledge and been rewarded highly like the early adopters of Bitcoin when it had no one to back it...and we have other assets that people have invested and rug pulled on them, so it all goes  down to risk appetite.

But of course if you have the privilege to learn then don't skip that part it will come in handy, though for fast learners you can learn the skill on the job.

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
Sounds like you answered this already OP Wink

R


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May 09, 2024, 06:38:34 PM
 #28

Whether newbie or not, no one should invest in any project they have no knowledge about. Bitcoin sure seems like an interesting investment, especially when we see those that are already successful in it. Bitcoin investment is a high risk investment which no one should enter into it without having prior knowledge of what they are putting themselves and their resources into. Majority of the people who are criticising Bitcoin and claiming Bitcoin caused them great loss instead of gain invested in Bitcoin without really learning about what Bitcoin is really about. They joined the Bitcoin family with very high expectations while failing to pay attention to the other parts of Bitcoin investment that makes it risky.

People should normalize gathering sufficient knowledge about whatever investment they intend to go into, this will go a long way in reducing their risks.

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May 09, 2024, 06:51:47 PM
 #29

A newbie with zero knowledge will not have a good investment in Bitcoin because Bitcoin investment is not like every other investment where you can just buy and resell your products to make profit you will need to learn when you are to buy and the right time for you to take profits and if you have no knowledge you may find it difficult to create and secure your bitcoin in your wallet, you may find it difficult to secure your seed phrase and lack of knowledge may even lead to loss of funds because a total newbie may be exposed to strangers and scammers who may apper as helpers but at the end they will leave the person empty.

It is risky to invest without adequate knowledge so instead of rushing to be seen as someone who has invested in Bitcoin,you can save your self the money and pay attention to getting a good knowledge on what you need to invest in before ok putting your money. If you know you can keep making research after investing in Bitcoin, that's going to be helpful to if you must invest without knowledge but be ready to accept whatever outcome you get but I will rather go for knowledge first before investment.

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May 09, 2024, 07:07:08 PM
 #30


Take your time learn and implement before you inter market or make any investment as a newbie
Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet,  you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

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May 09, 2024, 07:11:47 PM
 #31

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
Yea, it is a very good thing to do. Learning is the first step to any success and without good knowledge, there will be obstacles along the line which can lead astray.
In crypto and Bitcoin investment, learning is very important because of how volatile Bitcoin market is.
You need knowledge to be able to understand the basic concepts behind Bitcoin, keys and address and lots more; without these knowledges, you will never know the exact way to start and you will easily get scammed due to ignorance, that is why it is very important to learn before you start your investment.

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May 09, 2024, 07:51:36 PM
 #32


Take your time learn and implement before you inter market or make any investment as a newbie
Their is nothing to learn much, all you just need to know before investing bitcoin is to use the right wallet and to know how to secure your wallet,  you also need to understand how scammers work because beginners are always target of scammers. Then you also need to understand that investing in Bitcoin does not make one to become rich quick and you should understand that the market is very volatile and you Need to invest only the amount you can afford to lose which you don't need to depend on it to give you profit very fast. If you can understand all this I don't think you will have problems in investing in Bitcoin.

Well I disagree with you, knowing the right wallet and how to secure your wallet is not enough for a beginner who wants to invest in Bitcoin, is it possible for someone who does not have any knowledge of Bitcoin to know when to buy Bitcoin to HODL? I believe there's so many things a newbie should know aside the things you talked about because for someone that knows how create wallet the person may still find it difficult to buy Bitcoin or transfer Bitcoin from his wallet to make p2p transactions. The newbie will not even understand what the market is all about if not properly guided that's why it is advisable they get knowledge first before rushing to invest.

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.Duelbits.
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May 09, 2024, 07:52:11 PM
 #33

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
If you talking about investment in bitcoin, then you may be right on that advice of investing before learning and the possibility of success along the line is there, since bitcoin is less volitile compared to other coins in the market, also bitcoin can be hold for long term without the risky of losing all the investment because of market crash.
But when you dive into the world of altcoins, it then means that you have chosen a more volitile approach that way you need alot of knowledge experience and expertise to make profits from them, so you can't chose altcoin before you leave about it and also because of the high risk with altcoin, you can confidently hold it for long term based.

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May 09, 2024, 08:24:15 PM
 #34

Take your time learn and implement before you inter market or make any investment as a newbie
Don't take any shortcuts.

Give importance to your hard earned money without having some time in learning what you are about to invest. It won't hurt you a lot and won't cost you that much if you're going to learn first where you'll invest your money.

Don't be the same with those people that are relying to the flock of the crowd where they're putting their money without thinking and knowing what they are investing with their money.

Take one step at a time and don't rush so that you won't get fooled by anybody and you'll understand what you are investing.
Don’t be greedy as well, that will only force you to take shortcuts believing that you could end up with quick and huge profits. Instead, follow the process. Make an in-depth research and study. Know your investment well, before you take such risk to invest your hard-earned money. That could be the best way possible in order to avoid too much losses and increase your chances to stay in profits.
Yeah, that the process naturally and enjoy it.

Because a newbie that's making an investment shouldn't hurry for them to understand how the market's concept works.

It's about the process that they need to analyze and understand and then, that investment approach will be learned and everything seems going to be easy mentally and emotionally.



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May 09, 2024, 08:40:18 PM
 #35

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

It's obvious if you don't even know how an investment is done or how you can make investments in something, you can't do it right. Newbies who get scammed tend to invest their money in websites that use Bitcoin's name and ask people for investments and promise them high returns. Now if someone understands that investing in Bitcoin means buying Bitcoin from an exchange, they wouldn't be making such mistakes, right?

This is the reason why one needs to understand everything before they get involved in something, especially if they know there are finances involved because you can't risk your money on something that you don't even understand even if you have heard that it provides profits. So even if one is doing everything right, they still need to understand everything.  Smiley

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May 09, 2024, 09:03:55 PM
 #36

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie

Treat bitcoin like any other investment that you’ll have an experience about before putting your money into it. Without prior knowledge about bitcoin, it’s not advisable to invest in bitcoin because you stand at a very high risk of losing all of your assets. Without knowledge, you’re prone to scammers and also you can expose yourself to phishing attacks which are one of the easiest way they can get through your savings and cater away with all that you’ve invested. Some have argued in the past to buy bitcoin when you know about it in order not to lose at buying early like other investors. But the truth of the matter is that, if you do so, you will end up buying early and end up losing everything to scammers because you don’t know how to secure and protect your account.

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May 09, 2024, 09:31:54 PM
 #37

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
This is just another topic that even an elementary grader will be able to answer correctly. Now, if you are a responsible investor, you will stick to what is right and basic. Know your investment first before you start risking your money. Do not take shortcuts wherein you tend to invest first and learn your first lesson as well, that will only   put your losses at a high rate. Instead, follow the path of those early investors who are successful today. Take the time to study your investment first, until you gain your own confidence investing in it.

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May 09, 2024, 09:52:22 PM
 #38

First of all, you should know what you are investing in before putting your money into it. If you don't know anything about Bitcoin, its history, or even the volatility, you will probably be heading towards many surprises in the future. Sure, you can just speculate, and many people do it. But at that time it's more of a gamble. Serious people with serious investments carry out research before they let go of their money.
Being knowledgeable when it comes to bitcoin creates a higher advantage than those who rush to invest without knowing their investments well. That could be a sign of stupidity, as well as greediness. That’s how majority of newbies who are only here for quick profits loses easily on their investments, even if they have sufficient amount of money ready to invest.

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May 09, 2024, 09:54:46 PM
 #39

As on my own opinion alot of newbies have fallen in to hand of scammers because of their insufficient knowledge about Bitcoin so therefore it take a high risk to make an investment when you yet to understand the Bitcoin investment to avoid been scammed of your hard earnings
Take your time learn and implement before you inter market or make any investment as a newbie
The answer: yes, they can.
BUT....
Investing without understanding and studying first is a blind investment. And this will actually be very detrimental to them. At least, we have to have the abstract first before we enter the investment. There's no way to understand what Bitcoin is, its benefits, how to deal with the risks, and the best way to make an exchange and use it. This may not be very significant, but there will be a difference when a newbie invests without any prior knowledge and is equipped with knowledge and insight into Bitcoin with all its risks and twists and turns, which leads to the hope of making a profit.

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May 09, 2024, 11:04:48 PM
 #40

If your investment goes beyond buying Bitcoin and saving it up in a none custodian wallet, than it’s not worth trying. Many newbies into cryptocurrency and i don’t mean the forum, often find themselves on scam sites, seeking for investment packages on how they could invest their money and be paid royalties periodically for their investments but these often turns out to be trading scams. You could find a lot of that offered on social media and telegram group chats.

What is more obtainable is that, you buy Bitcoin from known exchanges or whatever means available to you, hold it on none custodian wallet while you study. That too is okay.
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