Major guidelines that can ensure a successful bitcoin investment

[Yablee0]

Over the years many folks have been diving into bitcoin investment without even bothering of knowing the basics necessity involved in it to be successful,
However, this has given me so much concern so I decided to create this thread for an open discussion about the basic things that needed to be considered before entering into any investment :

- Decision : you most make a bold decision before investing, ie you must be  determined, being determined simply means you are ready not minding any challenges or obstacles that comes with that investment you are 100 percent ready to face it.

- Research (making your own findings) : There is no way you can be successful in bitcoin investment without knowing the basic root or more about what you want to put in your money, you must go extra lengths to make more enquiries about that investment you about to emback on so as to attain success at it end.

- you must set a clear purpose (goal): Setting a clear goal in any investment is very vital step to take because it gives you a clear picture of what you want your investment to look like, however making an investor to be more focused and easier to achieve success in bitcoin  investment.

- Ready to hold for long term (patience) : you must  have that self patience in you despite any thing, you must have that mindset that bitcoin need more time before you can start benefiting from it,and it is not a get rich scheme that you will put in your money and get a huge outcome in a twinkle of an eyes. You must be ready to wait for longer term if you want to hit it big.

- Self discipline: you must posses self discipline if you want a successful bitcoin investment, many luxury life styles must be abolish to enables you hold for long term.

- emergency funds: emergency funds is very essential for your investment in Bitcoin to survive till it mature, because without it, anytime their is real life emergencies, you may temper with your holdings, which is not good for you investment, so emergency funds is a must.

[Futurexxx]

I get the point you are driving at an all the point you raised here makes sense, but I feels like their are few more that should be added that is not here , and the one I can remember now is that if you are investing in Bitcoin, it's very important that you invest with an amount you can afford to lose, so that if things doesn't goes as planned, you wouldn't be contemplating suicide, this is why it's very important to invest only with your discretionary income, because your discretionary income is the money left after all your basic needs have been met.
So for you to be in control of yourself if your investment in Bitcoin doesn't play out as expected, you must invest only what you can let go, because in as much as the potential of Bitcoin is very bright and huge, nothing is guaranteed in the future, so invest with caution.

[BitBakerr1]

All you have listed here are all correct you made a perfect list that any newbie who wants to join Bitcoin investment should follow, and the most important one I like that you included here is research, some newbies who are into Bitcoin investment really don't know much about Bitcoin that is why when there's a dip in Bitcoin they begin to panic, so it is very important you do your own research and findings about Bitcoin, try your best to know the history growth of Bitcoin investment it will always help you and prevent you from panicking when ever there's a dip.
Some newbies sell there Bitcoin because a dip happened, some newbies thinks that Bitcoin is a get rich quick investment and the reason they have all this thought is because they don't know much about Bitcoin investment, maybe they just heard someone saying that Bitcoin investment is the best and there's a lot of money coming out from there and immediately they decided to join without doing there proper research, to all newbies know that Bitcoin is not a get rich quick investment, you most invest for long term except you are a trader and trading is risky you may lose so much money in it so I won't advise any newbie to go down that part.

[Doan9269]

Learn to plan for yourself when you're into bitcoin investment, be conscious of every steps taken and know the consequences of same, in case things went on wrong for you that you're unable to adapt the situation, then you recall back that it has already been part of the plan right from time, this will make you to move and never bother to stay long on same thing, develop a strategy, take time to research and use various indicators in specific occasions, analyze the market and know at what entry point will be less risk for you, then go into it and avoid fear of missing out.

[fredericktaylor]

The main purpose of creating Bitcoin is freedom. a person will store his own money himself. this will not require a third party. he will withdraw it whenever he wants or send it to someone. the main goal of personal freedom . Bitcoin was not created to destroy the main economy of a country, but rather it is an alternative way to protect themselves from inflation.

It is true that people consider Bitcoin as digital gold because its supply is 21 million. It is true that there is no possibility of future increase in supply in Bitcoin. It is much easier to collect and hold Bitcoin in long-term investment. nothing extra is needed to start investing in Bitcoin, such as knowledge or money. It is very important to have some basic perspective, basically having a prudent income is enough. It is true that an emergency fund should be kept for a long-term investment because it is necessary to deal with unknown dangers. If you can continue investing patiently, you can achieve success in the future.

[Makus]

Op I so much love what you posted, you see the problem with most people is that they feel money is the reason behind any successful  business, well to some extent  money play a key role, because it's the executer of the entire idea but first the main and the most important  thing is the idea and accumulated knowledge. Knowledge is the most important  part of any investment of business, even in bitcoin investment, you need the basic knowledge about wallet, how to secure it and how to buy Bitcoin and then learn the become  discipline  by choosing a strategy and remain faithful to it except there is a good reason for a change.

[DaNNy001]

This is a very educational post...the last point is actually very important but not a lot of people pay attention to it.. Everyone wants to invest in Bitcoin but not everyone has what it takes to stand the test of time, what do I mean? If you don't have an emergency fund or a channel of income then you might always get tempted to tamper with your holdings, once you start selling your tokens to solve the financial problems that you have then you wouldn't benefit anything at the end..work on creating a source of income for yourself before you can start focusing on Bitcoin investment

[RealNoblee]

I get the point you are driving at an all the point you raised here makes sense, but I feels like their are few more that should be added that is not here , and the one I can remember now is that if you are investing in Bitcoin, it's very important that you invest with an amount you can afford to lose, so that if things doesn't goes as planned, you wouldn't be contemplating suicide, this is why it's very important to invest only with your discretionary income, because your discretionary income is the money left after all your basic needs have been met.
So for you to be in control of yourself if your investment in Bitcoin doesn't play out as expected, you must invest only what you can let go, because in as much as the potential of Bitcoin is very bright and huge, nothing is guaranteed in the future, so invest with caution.

Despite having a discretionary income and investing with an amount one perhaps be willing to let go incase of any eventuality.

One must also understand that investing in bitcoin with a borrowed fund is a dead trap in disguise because it's an investment that requires servicing for better returns .

You can make all the researches but not when investing with a borrowed fund.
You can be patient but not when you are investing with a borrowed fund.

[Versatile_choice]

You're very correct with all this you just listed here, this are the Basic things an investor need to know before getting started because once you're aware about this...... your accumulating journey will move very smoothly without any challenges because the reason why alot of people always face difficulties in thier accumulating journey is because they failed to get all this informations before getting started with thier bitcoin investment. Beginners Also need to be aware of the volatile nature of bitcoin so that whenever there is up and down in the market they won't panick but to Stick to thier decision and also maintain the ongoing buying of bitcoin until they reach thier investment goal.

[Asiska02]

As an investor who has made up their mind that they want to invest into bitcoin, that decision taken by them has already proven them to also have the virtue of being patient during the process of investing. So decision and having the patient to hold for the long term can be combined as one example among the other examples given.

Having an emergency fund is a vital step towards making sure that your investment stays alive and not tempered with. That’s why it is important to invest only what you can afford to take away with for the meantime to invest into bitcoin, it should not be money you’ll be needing anytime soon throughout the process of investing.

All other points are well explained and clear to understand. Every of those points you’ve pointed out needs to be watched through and reviewed well before anyone embark into the investment in bitcoin. The market is very volatile and can make one emotional but a strong holder will overlook all to achieve their purpose.

[Coin_info]

- Decision : you most make a bold decision before investing, ie you must be  determined, being determined simply means you are ready not minding any challenges or obstacles that comes with that investment you are 100 percent ready to face it.

Decision should also involve you being sure that investing Bitcoin is something you want to do because something really struck me a day before that not everyone is actually meant to invest in Bitcoin and actually not everyone profit from it So no matter how much we try to convince people to come invest in cryptocurrency and particularly Bitcoin it is not for everyone and some people will even do better not investing in it at all. Before anyone considers investing in Bitcoin they have to first consider the decision a lot and be sure that it is something they want to do, so that whatever the outcome of the investment they know that they were 100 percent responsible for their actions.

[Futurexxx]

I get the point you are driving at an all the point you raised here makes sense, but I feels like their are few more that should be added that is not here , and the one I can remember now is that if you are investing in Bitcoin, it's very important that you invest with an amount you can afford to lose, so that if things doesn't goes as planned, you wouldn't be contemplating suicide, this is why it's very important to invest only with your discretionary income, because your discretionary income is the money left after all your basic needs have been met.
So for you to be in control of yourself if your investment in Bitcoin doesn't play out as expected, you must invest only what you can let go, because in as much as the potential of Bitcoin is very bright and huge, nothing is guaranteed in the future, so invest with caution.

One must also understand that investing in bitcoin with a borrowed fund is a dead trap in disguise because it's an investment that requires servicing for better returns .

You can make all the researches but not when investing with a borrowed fund.
You can be patient but not when you are investing with a borrowed fund.

No, I disagree with you here, investing with a borrowed money is not a wrong decision entirely if it's done in a calculated manner. You can invest with a borrowed money if the repayment plan is done installmentally, and it's spread across three years or more, and another thing is that you should kill that notion that you will be paying back from your Bitcoin investment.
Since it's a loan that can be payed installmentally, you can easily be repaying bit by bit from your paycheck at the end of the month, so before you know it, you will be done repaying it, and to buttress it all, if you took the loan and buys during a dip and the interest rate is as low as 0.6% a year, tell me why it's not a good idea? Because I know that Bitcoin will always outperform that interest rate attached to the loan, so it's not a bad idea entirely, but if these are not the condition for the loan, like repaying installmentally and it's spread across 3 years or more with  an interest rate from 0.7% below, it should be avoided, because it's a trap as you called it.

[Yablee0]

I get the point you are driving at an all the point you raised here makes sense, but I feels like their are few more that should be added that is not here , and the one I can remember now is that if you are investing in Bitcoin, it's very important that you invest with an amount you can afford to lose, so that if things doesn't goes as planned, you wouldn't be contemplating suicide, this is why it's very important to invest only with your discretionary income, because your discretionary income is the money left after all your basic needs have been met.
So for you to be in control of yourself if your investment in Bitcoin doesn't play out as expected, you must invest only what you can let go, because in as much as the potential of Bitcoin is very bright and huge, nothing is guaranteed in the future, so invest with caution.

One must also understand that investing in bitcoin with a borrowed fund is a dead trap in disguise because it's an investment that requires servicing for better returns .

You can make all the researches but not when investing with a borrowed fund.
You can be patient but not when you are investing with a borrowed fund.

No, I disagree with you here, investing with a borrowed money is not a wrong decision entirely if it's done in a calculated manner. You can invest with a borrowed money if the repayment plan is done installmentally, and it's spread across three years or more, and another thing is that you should kill that notion that you will be paying back from your Bitcoin investment.
Since it's a loan that can be payed installmentally, you can easily be repaying bit by bit from your paycheck at the end of the month, so before you know it, you will be done repaying it, and to buttress it all, if you took the loan and buys during a dip and the interest rate is as low as 0.6% a year, tell me why it's not a good idea? Because I know that Bitcoin will always outperform that interest rate attached to the loan, so it's not a bad idea entirely, but if these are not the condition for the loan, like repaying installmentally and it's spread across 3 years or more with  an interest rate from 0.7% below, it should be avoided, because it's a trap as you called it.

Everything you said is perfect okay and correct but in my case I prefer embarking on any investment with my own personal funds other than using a borrowed funds, because using my own personal funds gives me that inner peace of mind without any fear of being a deptor or being unnecessary pressurized. However, I know the economy presently is not smiling at all and it is telling bitterly on many folks in current time, but my  advise is that before accepting any loan offer for your bitcoin investment make sure that loan has a favorable and  a well conducive repayment plan to enable you pay without stress.

[Dr.Bitcoin_Strange]

Yea, all the points you made are very relevant and paramount to an individual that wants to successfully make profits from Bitcoin or someone that wants to invest correctly. What I consider the most important aspects of Bitcoin investment is having a concrete knowledge about Bitcoin because if you do, you will never panic when price dips during bear market and you will never have the urgency of selling but you will rather hold patiently until the bull market comes. A great Knowledge of Bitcoin will surely make the investor to be more informed about every risk and reward and guidelines.

[PremiumcryptoHub]

The points mentioned here are very important, especially when it comes to Bitcoin investment.
Especially when we invest in Bitcoin, if we do not clearly understand the basic requirements involved in the initial stage, there is a high chance of going astray in that investment. Therefore it is essential to review these factors to keep the foundation of investment stress-free and to avoid worrying while investing, especially to keep Bitcoin investments intact. Maybe these basic things might be important when it comes to Bitcoin investing, such as

Cost reduction: When starting to invest in Bitcoin, we need to be careful about its charges, And everyone should try to reduce transaction fees as much as possible, because this may improve the initial stages of investment.

We must learn from the experiences of others: There have been many investors in the past who have been able to achieve success in their investments, so it may be necessary for all of us to learn from their experiences, so this issue should be considered. You should even take financial advice from them.

[Futurexxx]

No, I disagree with you here, investing with a borrowed money is not a wrong decision entirely if it's done in a calculated manner. You can invest with a borrowed money if the repayment plan is done installmentally, and it's spread across three years or more, and another thing is that you should kill that notion that you will be paying back from your Bitcoin investment.
Since it's a loan that can be payed installmentally, you can easily be repaying bit by bit from your paycheck at the end of the month, so before you know it, you will be done repaying it, and to buttress it all, if you took the loan and buys during a dip and the interest rate is as low as 0.6% a year, tell me why it's not a good idea? Because I know that Bitcoin will always outperform that interest rate attached to the loan, so it's not a bad idea entirely, but if these are not the condition for the loan, like repaying installmentally and it's spread across 3 years or more with  an interest rate from 0.7% below, it should be avoided, because it's a trap as you called it.

Everything you said is perfect okay and correct but in my case I prefer embarking on any investment with my own personal funds other than using a borrowed funds, because using my own personal funds gives me that inner peace of mind without any fear of being a deptor or being unnecessary pressurized. However, I know the economy presently is not smiling at all and it is telling bitterly on many folks in current time, but my  advise is that before accepting any loan offer for your bitcoin investment make sure that loan has a favorable and  a well conducive repayment plan to enable you pay without stress.

You are not wrong to be honest, the best way to invest in Bitcoin is by investing with your own money, your discretionary income to be precise, am just stating the only possible scenario where it would be ok to invest with a borrowed funds, because taking a loan comes with his own added pressure, but if you must take a loan to invest, you must understand that you will be paying back from another source and it must be done installmentally and spread across three years or more, with a very low interest rate, apart from that, it is not advisable to invest with a borrowed money.

[Rockson1]

I get the point you are driving at an all the point you raised here makes sense, but I feels like their are few more that should be added that is not here , and the one I can remember now is that if you are investing in Bitcoin, it's very important that you invest with an amount you can afford to lose, so that if things doesn't goes as planned, you wouldn't be contemplating suicide, this is why it's very important to invest only with your discretionary income, because your discretionary income is the money left after all your basic needs have been met.
So for you to be in control of yourself if your investment in Bitcoin doesn't play out as expected, you must invest only what you can let go, because in as much as the potential of Bitcoin is very bright and huge, nothing is guaranteed in the future, so invest with caution.

When you are investing in bitcoin, invest with the amount you can afford, theres nothing relating losing here, bitcoiners should learn how to put this information straight, the reason for using discretionary income was because we are avoiding loss, nah nah, it so simply because we trying to invest and be free of hasty decision that may lead us to trying to sell due to the some pressure that may arise as we keep investing, this discretionary income makes the investment flexible and smart for us, no pressure at all, we won't be thinking of doing the otherwise as we keep using discretionary income, why I don't make use of the statement like invest with what you can afford to lose is because, such statement looks very negative and we should know people are here to learn, understanding differs too, some persons may not understand it very, they may misinterprete it for themselves, nothing is guaranteed in the future as you just said but you will agree withe me that the investment of the investment gives us hope.

[Rgram]

- you must set a clear purpose (goal): Setting a clear goal in any investment is very vital step to take because it gives you a clear picture of what you want your investment to look like, however making an investor to be more focused and easier to achieve success in bitcoin  investment.

This one no only apply to Bitcoin but to everything you wan do in life and hope to succeed in.
You no fit start to pursue something and you no set goal or target, even for the short term or a long term. Your target no even need to Dey precise but, e fit exists within a range. Na this one go make sure say, you recognize the efforts you Dey put on and note the progress way you Dey make.
Planning and targets Dey very important to growth.

[rachael9385]

Before you invest in Bitcoin it's important to have a Source of income or an emergency fund so that you wouldn't touch your tokens everytime you need money... Bitcoin investment isn't like altcoins that you benefit from when you do a short term investment, those who cannot be patient enough to get the profits of holding for a long time shouldn't bother to buy Bitcoin, this point you made is very simple and yet very important. This is something that a lot of people do that affects their investive management.  Lastly, doing your research is very important, I wouldn't advice you to invest in something that you have no knowledge about

[CryptoHeadlineNews]

- Research (making your own findings) : There is no way you can be successful in bitcoin investment without knowing the basic root or more about what you want to put in your money, you must go extra lengths to make more enquiries about that investment you about to emback on so as to attain success at it end.

And in addition to making more enquiry to knowing about the investment you intend to venture into, another key factor that I also think is necessary to be successful in any newbies Bitcoin investment, is knowing fully well about it's safety measures and security tips. Because on the contrary, whatever decision an individual intends to make, researchs he does and investment plans he intends to achieve with it, if such individual fails to store his Bitcoin in a non custodial wallet where he owes the private key and apply appropriate security measures. He stand the risk of losing his funds. Hence, the need why security measure matters.