When investing in Bitcoin: what to consider?

[Spaceman1000$]

First how does Bitcoin operate? Bitcoin it's a digital currency uses Blockchain technology to support transactions between users. If you know how Bitcoin operates then you will also know the consideration that comes with. And critics say Bitcoin doesn't work as a currency, Citing volatility use in illegal activity, but supporters argue that it's too early to make  some of these claims, is already fixing many of those concerns. I know their are so many things to be consider with when it comes to anything investment. Mostly concerning the highest exchange in the world. So what are your opinion towards the people that are investing in Bitcoin?

Bitcoin is a digital currency, so it has monetary values. I don't understand the aspect you said about volatility use in illegal activity, volatility is basically about the instability in the price flow, and i don't see how that can be used in illegally maybe you need to explain further.
Well, for people that have invested in bitcoin, I think the testimonies about the reliability of bitcoin and the return on investment on bitcoin cannot be overemphasized, because over the years there has been an upsurge on investment because people have seen what it entails.

[Moreno233]

We have different opinion about Bitcoin so why bother what others or critics think of it?

Just decided to read through the replies before anything and I find your comment very interesting. I am not supportive of making Bitcoin investment a public knowledge neither do I encourage anyone to seek public validation before investing in Bitcoin. Those who fail to control the flow of information regarding their Bitcoin investment can easily be mislead because the negativity against Bitcoin is huge, just that it is slowing down as more people are beginning to see that Bitcoin is not a scam after all.

The right thing to do is to use any method of buying Bitcoin provided the intention is to hold. of course this has to come after making sure the basic and fundamental knowledge are acquired before starting so that the investment can be well managed and protected from theft. This forum have all the information needed to be a successful Bitcoin investor.

[kryptqnick]

Volatility, usage of Bitcoin by criminals, irreversibility of transactions, environmental impact, occasionally high transaction fees etc. can all be considered if they are important to a certain person. But I'd say that this isn't what one should start from. The initial questions should be: how much money can I afford to lose and thus can dedicate to investment? Do I believe that Bitcoin's long-term upward price trend will continue for the years to come? Which wallet should I use, and which seed storage method will I choose? Will I sell when Bitcoin gets above/below a certain point?

[CryptoHeadlineNews]

I know their are so many things to be consider with when it comes to anything investment.

Yes, there are lot of things to consider before venturing into any form of investment, of which Bitcoin especially is no different than others, as factors such as, amount of Bitcoin to buy, which wallet to store your Bitcoin, and how long you intend to HODL your Bitcoin (i.e either Long or Short) are all basic factors people consider with a Bitcoin investment.

So what are your opinion towards the people that are investing in Bitcoin?

I have just only a singular opinion about all those who have invested in Bitcoin, and the opinion is that I'm happy they all made the right decision by choosing to invest in Bitcoin, rather than leaving their funds in fiat where it's value gets depreciated. Hence, my advice to all is to keep investing in Bitcoin, as it future holds more good for us all.

[Z-tight]

Bitcoin is a digital currency, so it has monetary values. I don't understand the aspect you said about volatility use in illegal activity,

Op's English is not the best, but what they meant there is what a lot of people say, including the government, and that is that BTC is used by criminals for illicit activities. However, the people who have this narrative forget that BTC has a public ledger, and in order to use BTC to hide your illicit activity, you must use it in addition with privacy tools, and not everyone has the knowledge to do it correctly. I clearly have the opinion that criminals use easier and quicker tools to launder money, rather than BTC, and the number that use BTC is not as high as the government tries to portray it.

[kentrolla]

lThe most important non technical thing which we need to consider is the fact that you don't get rich overnight by investing into Bitcoin because most of the new users don't have any idea about Bitcoin and it's uses but rather consider it as an investment but unfortunately some are made to belive it's a get rich quick scheme. People need to hold it for long term and also set goals in the sense targetted profit and once it's achieved they can set stop loss.

[bitzizzix]

What to consider when looking to invest or get involved with Bitcoin.
It's best to study everything well first and also the risks that will occur, and most importantly you have to consider that Bitcoin fluctuates a lot.
Apart from that, you also have to prepare mentally, because this is an investment instrument with very high risk
because if you invest in Bitcoin you have the potential to get big profits, but you also risk experiencing big losses too. And this must also be taken into consideration, and start with small capital and don't start with large capital before you have a good overall understanding and knowledge. And also never use important money, or money for your needs.

[darkangel11]

Citing volatility

What do you prefer: volatility or gradual decline? Bitcoin goes up and down, but the yearly average trends upwards. Many currencies stay relatively flat, but if you look at their yearly moves you'll see they're trending down.

use in illegal activity,

Show me a fiat currency that isn't used for illegal things.
IMO it's all 100% fine as long as illegal activity is a few % of total transactions.

[kawetsriyanto]

If you only invest in Bitcoin, you don't really need to know about how Bitcoin functions as a currency. Just let people argue about Bitcoin whether it works as a currency or not, we don't need to be confused with them. As long as investing in Bitcoin is legal in our country, it is enough as the reason to invest in Bitcoin. But if we want to use it as a payment tool, it is important to understand how Bitcoin works as a currency. We also needs to know its legality in our country. There are countries that legalize Bitcoin investment, but they forbid the use of Bitcoin as a payment tool.

By the way, we must know everything about Bitcoin first before we invest in Bitcoin. It is quite strange if we brave to invest in Bitcoin when we are not sure what Bitcoin is. Knowing Bitcoin isn't only about how it can be used as a currency. We must know everything about it, we even need to learn how the history of Bitcoin and its potential in the future.

Other things that we must do when we invest in Bitcoin:
1. Know the best place to store/keep Bitcoin
2. Know the cycle of bearish-bullish
3. Understand the halving impacts
4. Understand the best time to entry (buy) and exit (sell)
5. Update the information about Bitcoin issues


IMO/CMIIW

[Sonia_123]

What to consider is how you can steadily fund your account for continuous investment without a break, having a set aside fund from your monthly income is very important and necessary,it is also important to have a target for this will help you ascertain your goal in bitcoin investment , irrespective of the manner which you want to use in investing and accumulating your Bitcoin.
You should also focus on whatever you are doing, whether Bitcoin is volatile or a currency or not a currency people must always talk and criticize ,so do not be distracted.

[oktana]

When you talk about investing in Bitcoin, there’s just one major thing to consider, and it’s the volatility. Investors must know that what can go up can always come down so while they are trying to make money, they have the tendency to lose money too. But if you talk about things to consider about Bitcoin generally, I’d say learning exactly how everything works is as important as the currency itself.

[Churchillvv]

I know a lot of people most have contributed enough or have mentioned what I want to say in one way or the other one consideration which must be put in place before investing in bitcoin or while investing in bitcoin.
One major thing to consider is having a good source of income. One must be well to do with his or her income to venture into bitcoin because I don't expect anyone wanting to invest in bitcoin to it in all her income into it as it discourages long term Hodling which is always a primary goal.

Another thing that must be put in place is emergency funds that could last for at least 3-6 months hence one would have nothing to do with his or her investments for a short period of time instead it will be sad to holding for a very long term hence profit will be guaranteed.

We must not forget also one of the most important thing which is security and self custody. In storing your assets a self custodian wallet is most advisable and an open source wallet like electrum.

[batang_bitcoin]

So what are your opinion towards the people that are investing in Bitcoin?

Is there anything to say about ourselves? Well, one thing is that hopefully we reach a certain peak that everyone is going to be happy about it. And we are investors of Bitcoin because we know what's coming to it and we understand it not just a crypto but also an asset, a store of value that everyone needs to have in order to have some good stance on this hard time for most economies. That's the reason why we're all holding it and people need to realize that it's here to stay.

[AmoreJaz]

I know a lot of people most have contributed enough or have mentioned what I want to say in one way or the other one consideration which must be put in place before investing in bitcoin or while investing in bitcoin.
One major thing to consider is having a good source of income. One must be well to do with his or her income to venture into bitcoin because I don't expect anyone wanting to invest in bitcoin to it in all her income into it as it discourages long term Hodling which is always a primary goal.

Another thing that must be put in place is emergency funds that could last for at least 3-6 months hence one would have nothing to do with his or her investments for a short period of time instead it will be sad to holding for a very long term hence profit will be guaranteed.

We must not forget also one of the most important thing which is security and self custody. In storing your assets a self custodian wallet is most advisable and an open source wallet like electrum.

Very well-said, if you will venture into this volatile market, make sure you have back-up resources so as not to put yourself in a tight position. Because if you only have your bitcoin in stash, most definitely, you will use this when you need it for other expenses.
Also, one thing to keep in mind is how secure are you with your btc holdings? Given that you know how to deal with this market, you should not forget how vulnerable this asset to hackers and the likes. So better not divulge your crypto dealings over the net. Better keep it to yourself or be discreet with your crypto activities.

[LDL]

First how does Bitcoin operate? Bitcoin it's a digital currency uses Blockchain technology to support transactions between users. If you know how Bitcoin operates then you will also know the consideration that comes with. And critics say Bitcoin doesn't work as a currency, Citing volatility use in illegal activity, but supporters argue that it's too early to make  some of these claims, is already fixing many of those concerns. I know their are so many things to be consider with when it comes to anything investment. Mostly concerning the highest exchange in the world. So what are your opinion towards the people that are investing in Bitcoin?

There are several critical factors that you must consider when investing in Bitcoin. If you are a newbie investor then you must choose DCA method of investing. The amount of dollars you plan to invest in Bitcoin should not be invested at the same time, in which case you need to invest step by step using the DCA method at different prices.
After making the investment, you will have to come to see if there is acceptance of Bitcoin in your country, if there is acceptance, and if your country's government imposes a tax on Bitcoin transactions, you will have to pay the tax. Moreover, you have to monitor your work to see what you are spending your bitcoin on, if you have spent it on any illegal activity, you have to be fully aware and control yourself so that you do not use your bitcoin for illegal activities.

[Wexnident]

~

Why do you need to mind what people are saying so much really? At a certain point the price of the product already speaks volumes, and I'm pretty sure Bitcoin is at that state already. Same with the idea of knowing how it works. If it was new yea go for it, but if not then you don't really need to. It's a good thing, but not a necessity.

You'd mostly only really consider whether you can buy it, and whether the money you spent buying it is money you can afford to lose or not. At least that's what I mostly consider. I guess you can also add whether to DCA or not, but ultimately that's up to preference or what you're better at instead.

[Solokan]

We have different opinion about Bitcoin so why bother what others or critics think of it?
They don't see it as a currency then move on we don't need to force them to see it that way, we have been using it however we want (payment option or investment tool).

I agree with you, yes we don't need to bother thinking about people who don't like bitcoin or who are not interested in bitcoin because of course everyone's opinion will be different.

and of course we shouldn't force people to see it that way and of course there are those who like to use Bitcoin as a means of payment and there are also those who don't. but what is clear is that I think Bitcoin has many benefits and yes, we can like to use BTC. but in my country BTC is only allowed for investment so I'm sure that now there are fewer and fewer people who look down on BTC and of course I'm sure Bitcoin will get even more advanced.

and I see that now in society it is starting to become popular, which used to be anti-bitcoin, now many people are starting to invest in BTC and this proves that BTC is a valuable asset and many are starting to believe that BTC is a good asset for the future.

[Xampeuu]

First how does Bitcoin operate? Bitcoin it's a digital currency uses Blockchain technology to support transactions between users. If you know how Bitcoin operates then you will also know the consideration that comes with. And critics say Bitcoin doesn't work as a currency, Citing volatility use in illegal activity, but supporters argue that it's too early to make  some of these claims, is already fixing many of those concerns. I know their are so many things to be consider with when it comes to anything investment. Mostly concerning the highest exchange in the world. So what are your opinion towards the people that are investing in Bitcoin?

There are several critical factors that you must consider when investing in Bitcoin. If you are a newbie investor then you must choose DCA method of investing. The amount of dollars you plan to invest in Bitcoin should not be invested at the same time, in which case you need to invest step by step using the DCA method at different prices.
After making the investment, you will have to come to see if there is acceptance of Bitcoin in your country, if there is acceptance, and if your country's government imposes a tax on Bitcoin transactions, you will have to pay the tax. Moreover, you have to monitor your work to see what you are spending your bitcoin on, if you have spent it on any illegal activity, you have to be fully aware and control yourself so that you do not use your bitcoin for illegal activities.

Indeed, it would be better for us to divide the capital that we will use to invest in Bitcoin, but indeed we have prepared a framework scenario beforehand, so that we know which areas we will use as a reference for purchasing Bitcoin, that way we have the opportunity to get the best price, if we only place a purchase once, so if the price continues its decline then this can disturb our psychology. In my country, crypto trading is taxed, so don't carry out activities that violate the laws in force in our country or we will face the law.

[btc78]

We have different opinion about Bitcoin so why bother what others or critics think of it?
They don't see it as a currency then move on we don't need to force them to see it that way, we have been using it however we want (payment option or investment tool).

I guess op is worried about the public’s opinions about bitcoin that is directly linked to its adoption. The general public will be the ones to decide if bitcoin is already a mainstream currency or something to avoid. Of course for investors, more interest will lead to more demand which will benefit them as well.

[lovesmayfamilis]

A chaotic post connecting the incompatible. What are we talking about when we talk about people investing in Bitcoin? These people are good financiers who understand the value of Bitcoin and know how to save their money from inflation. Anyone who wants to know the truth about Bitcoin should stick to all the information and not just rely on good or bad facts. A good return on investment will come from those who weigh their pros and cons, act wisely, avoid panic when they see the market fall, and wait patiently for their goals.