What should a newbie do in bitcoin investing?

[Ojima-ojo]

As a newbies you need to learn well about Bitcoin before venturing into it market, and after gathering enough knowledge about Bitcoin, you should also have a spare amount of money, this money should be an amount of money that you can set aside for a long period of time without need for it because I'm Bitcoin investment time is very important and your ability to calculate and act within the time is what make you a success in the future.

As a newbie there is a lot of risk that can be faced and for that you need to prepare yourself before you start your Bitcoin investment journey because anything short of proper preparation will definitely result in a bad experience entirely.

[Issa56]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

If you want bitcoin to give you a high profit, then you can definitely achieve that. If you can hold bitcoin for a long period of time, then you should be able to achieve that, but if you are new to bitcoin, there are some things that you are supposed to know before investing in bitcoin. Make sure you have basic knowledge about bitcoin before making an investment. You should know that if you are holding for a short period of time, then you will find it difficult to make a good profit, and if you are holding for a long period of time, then you should learn about wallet security and how you are going to protect your seed, because it’s really painful to lose bitcoin.

[Stalker22]

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

The Bitcoin market can be volatile, thats true. But then again, many markets are. That is why it is important to know the market before you decide to invest.

But, if you think the Bitcoin market has a high tendency to lose, you should probably stay away from it. Simple as that. (I thought you mentioned that a trusted source recommended Bitcoin as a good investment.)

[KingsDen]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Bitcoin can give you high profits, yes!
But then, it all depends on when you join the market. As bitcoin is always confusing. At 87k currently, it could be the highest point and not good to enter. But if we are projecting $100k and above, it means $87k can be a good entry point.

Meanwhile, volatility is an added advantage to bitcoin, the main advantages are;

• Security
• Liberty to control your money
• Decentralization

Etc, there is more to bitcoin than profit making.

[JunaidAzizi]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Yeah, Bitcoin will give a high profit, but not as quickly as you set your mind to. No doubt, Bitcoin is a trusted cryptocurrency, and investing in Bitcoin will yield handsome profits, but your profit depends on your investment. If you invest 40 dollars and assume that you will get 200 dollars in profits, then it's too hard. Bitcoin increases in value, the greater the time you hold BTC, the greater your profits will be.

But as you're a newbie, I won't suggest you put your entire funds in at once. In fact, do DCA (Dollar-Cost Averaging) and invest 80 to 100 dollars per week or per month. After some time, you will have a handsome amount of investment in Bitcoin, and then hold it for some time, hoping to get the maximum profit based on your investment. So be realistic and don't rush in all at once because you don't have much knowledge. First, grab some knowledge about Bitcoin because it's very necessary.

[Majestic-milf]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

It gives profit and also has the tendency to incur losses to an investor with it being a highly volatile coin but when you make your proper research and bear in mind that when you begin your journey, it won't always be smooth sailing, I think you'd be good to go.
 Sometimes, these friends don't tell you all you need to know about what you are getting into,  they omit the bad side and only sugarcoat it for you, thereby misinforming the individual but it's good you came here to ask for more directions.

[Oshio-man]

Yes, bitcoin is a good investment newbies can earn a nice income that will motivate he or she to increase their capital in bitcoin investment, but you need to learn bitcoin investment to have the knowledge because without the knowledge of bitcoin investment, there is no way you can earn a good income in the future no matter the huge amount of funds you have invested, once you have the knowledge of bitcoins investment, wait for the bear market to come before you can buy in a low price and hold for long term for bull market to show up, and you will have the opportunity to earn what you want from the bitcoin investment.

[Lucius]

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

That's why I advised you to expand your knowledge and take small steps forward. In addition, all beginners are always given advice that is very important, which is to invest only as much money as you are ready to lose. There is a method called DCA (Dollar-cost averaging) that allows you to invest in BTC in an optimal way without such an investment directly affecting your finances.

Do not fall under the influence of the FOMO effect (fear of missing out), because Bitcoin will be available to you whenever you are ready to take the first step.

[Olatundespo]

Of course. Bitcoin can give you high profits in the future if you can start accumulating by following the long-term Dollar Cost Averaging (DCA) method. Since you are a beginner you should take proper planning and this method can be most useful for you. Decisions should be taken by observing the market situation without depending on the words of others so as not to regret later.

You can start by following the DCA method from the surplus discretionary income that will remain after meeting the daily needs of the family besides trying to analyze the market conditions to experience yourself and continue to deposit for a long term 4-10 years. The next decision you should be able to make yourself on investment maturity.

[tabas]

Is bitcoin actually able to give me a high profit?

Yes, it is a high-risk and high reward kind of investment. So, if you will take a risk with a big capital then you can also make high profits through its price going up. But the risk is there and for newbies like you, you're more emotional than most of us and with a simple price swing, you might think that it's the end of Bitcoin already. That's why before you make any decisions and before you invest on Bitcoin, please do learn and understand the basics of it before putting your money, life savings or any spare amount on it.

[sotelorene]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

The answer to your question is very simple and I believed they have answered you and the way you sound about it is somehow. Yes Bitcoin can give a high profit only if you are able to hold for a long period of time which often time some investors get tired while accumulating and holding, though some trade it and make a lot of money but as a newbie I won't advise to..., because it's very risky. however, I will advise you to take out the high profit in your mind and first learn how to accumulate and hold because you can't just skip the basic part of Bitcoin because its really going to help you.

[lovesmayfamilis]

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

That is why you were offered the advice to invest something that will not affect your life if the price falls, to invest the amount that you can do without for a long period. Many people come to the forum interested in investing in Bitcoin with very incorrect information. On the one hand, they want profit, and on the other hand, they are stuffed with the knowledge that the price can jump up and down, thus giving rise to the idea of the insecurity of investing. When you start learning about Bitcoin, you need to decide on your desires, since you will not get quick profits, and if you do not have patience, you need to choose something else.

[dzungmobile]

That is why you were offered the advice to invest something that will not affect your life if the price falls, to invest the amount that you can do without for a long period. Many people come to the forum interested in investing in Bitcoin with very incorrect information. On the one hand, they want profit, and on the other hand, they are stuffed with the knowledge that the price can jump up and down, thus giving rise to the idea of the insecurity of investing. When you start learning about Bitcoin, you need to decide on your desires, since you will not get quick profits, and if you do not have patience, you need to choose something else.

I learned hard lessons when I introduced Bitcoin to other people and I've never want to do it again.

In this market, if they accept your advice and spend money, they think more about profit. Later if they get losses, they mostly don't think main responsibility are theirs, not yours. They more easily see responsibility from you because you invited them to join this market, while they are not bravely and frankly enough to see and admit that their losses are from their bad activities.

Rather than investment and holding their bitcoin, they exchanged bitcoin for altcoins, trade bitcoins with leverage, futures, and they also ignore all mistakes they made as their responsibility.

[Cityhunter34]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine. Is bitcoin actually able to give me a high profit?

Suggest and help me to move forward.

Actually Bitcoin is a very good investment. but one thing you need to know is that Bitcoin is not a get rich quick so as a newbie you need to remove anything about high profit from your mind so that it'll enable you to buy Bitcoin and hold for a long period of time. Because as a newbie once you have this mindset of making high profit from Bitcoin it'll going to make you panic in your Bitcoin investment and which is going to make you sell your Bitcoin in a short term while because you have already have the mindset of making high profit in Bitcoin, which is very wrong as a newbie. However, I would advise you to settle down and invest what you can afford to lose to be on a saver side.

[Stepstowealth]

Good day, I heard that bitcoin investment is a way to get profit in the future. I got to know Bitcoin is a good investment through a well-known person of mine.

It is as a result of something I heard as well after asking the right questions that led me to bitcoin and investment in it. There are people who have heard about bitcoin investments and the potentials but have never acted on what they heard and due to their inaction have remained at the position they are. There are people who are waiting to have a lot of money before they try to invest in something.
Investing in bitcoins does not need you to have a lot of money to begin, anybody that hears this and acts on it will surely benefit.

[michellee]

How high profit do you want? If you buy Bitcoin for $100 when Bitcoin at $30k and hold until the price reach $80k and sell it, your profit will bigger. So that will depends on how many Bitcoin you buy and sell.

You should learn more about DCA method because that will help you to accumulate more Bitcoin at some time range. You only need to prepare some money to invest in Bitcoin and split your buy order in weekly or monthly. If you can routine to buy Bitcoin in monthly, you will see your Bitcoin amount will increase. If you reach your target how long you buy Bitcoin, you can stop and wait for the time Bitcoin price increase.

You still have time to invest in Bitcoin but you must be patience because Bitcoin is not a shortcut to rich. But Bitcoin can gives you a big profit if you can accumulate many Bitcoin.

[Lucius]

I learned hard lessons when I introduced Bitcoin to other people and I've never want to do it again.
~snip~

It's the same with me, let's say I got burned trying to help others and I refrain from giving any financial advice to anyone. As we have a more than clear opinion of the majority that they do not want to be their own bank, it follows that the majority does not even want to be personally responsible for what they invest their money in.

Bitcoin used to be an interesting topic among friends and acquaintances, but for me personally it stopped being so a long time ago, considering that a lot of bad people listen and collect information about people who invest in cryptocurrencies.

[m2017]

Good day, I heard that bitcoin investment is a way to get profit in the future.

Any investment is a way to make a profit. These are two parts of the same equation.

I got to know Bitcoin is a good investment through a well-known person of mine.

Was this information only verbal or did your "well-known person" confirm from his own experience that "Bitcoin is a good investment"?

Is bitcoin actually able to give me a high profit?

50 / 50.

It may or may not give. Bitcoin is just a financial instrument that can be used to achieve your goals, but you need to be able to use it correctly.

Don't mistakenly believe that bitcoin is an easy and quick way to wealth.

Suggest and help me to move forward.

Read this forum.

"What should a newbie do in bitcoin investing?" - the same as for any BTC-investor: just hodl.

[Nheer]

In this market, if they accept your advice and spend money, they think more about profit. Later if they get losses, they mostly don't think main responsibility are theirs, not yours. They more easily see responsibility from you because you invited them to join this market, while they are not bravely and frankly enough to see and admit that their losses are from their bad activities.

If I am introducing anyone to bitcoin investment, then I will make sure they know almost everything about bitcoin. I will make it clear to them that they can lose when they invest in bitcoin. Bitcoin is all about profits and losses, so when you introduce people to bitcoin, they should know that they can make profit when they invest in bitcoin, and they can also lose, and when they lose, they shouldn’t hold you responsible for the loss. I will make sure I tell them basic things that they are supposed to know, and I will recommend they keep on doing research, and whatever they don’t understand, they should ask me.

Rather than investment and holding their bitcoin, they exchanged bitcoin for altcoins, trade bitcoins with leverage, futures, and they also ignore all mistakes they made as their responsibility.

After introducing some people to bitcoin investment, they do end up looking for ways to make quick money, and they believe they can get it from either altcoins or future trading, but they don’t know the risk involved in it. But you are supposed to let them know the risk involved in it, and if they end up going against what you tell them, then they shouldn’t blame you if they lose.

[Abu-Naim]

Very good advice, but as far as I know from my little knowledge the bitcoin market is volatile and has a high tendency to lose!

Crypto market is volatile generally, but investing in Bitcoin is safer than any other coin because they all depend if Bitcoin price movement to take their price shape.

All newbie is supposed to do is to make sure they understand the concept of Bitcoin wallets, how do Bitcoin transactions work, and to determine transaction fee and others. They should know about wallets, and how important private key is to all Bitcoin wallets because not your keys, not your coins.
Finally, newbies should avoid FOMO especially in this proof of Bull run.