Doing your own Research on Bitcoin

[freedomgo]

• It will help you understand the purpose of bitcoin and it's long term potential instead of only focusing of its short term price movement..

Conducting research for beginners who want to know more about Bitcoin, or those who actually want to invest in Bitcoin, will be very important. But you may also have to remember that everyone’s motivation towards Bitcoin is different. Some are interested in investments, some are interested in Bitcoin mining, but others prefer trading because they are skilled at it. We cannot direct everyone to the same goal as we desire.

Still, conducting research is crucial most especially if you are still new to the learning process. But this is just our first step, and this doesn’t guarantee our future success, isn’t it? So if you want to be a plain investor, miner or a trader in the process, do not just settle on what you have learned but make sure to apply them after. The final outcome will determine if you will be successful or not, based on what you have done with your researches, and based on the effects after you applied them.

[Baki202]

• It will help you understand the purpose of bitcoin and it's long term potential instead of only focusing of its short term price movement..

Conducting research for beginners who want to know more about Bitcoin, or those who actually want to invest in Bitcoin, will be very important. But you may also have to remember that everyone’s motivation towards Bitcoin is different. Some are interested in investments, some are interested in Bitcoin mining, but others prefer trading because they are skilled at it. We cannot direct everyone to the same goal as we desire.

Still, conducting research is crucial most especially if you are still new to the learning process. But this is just our first step, and this doesn’t guarantee our future success, isn’t it? So if you want to be a plain investor, miner or a trader in the process, do not just settle on what you have learned but make sure to apply them after. The final outcome will determine if you will be successful or not, based on what you have done with your researches, and based on the effects after you applied them.

And for someone who loves you, will tell you to go for knowledge first before anything else, because when you don't go for knowledge first, no matter what you are planning to invest in, whether you are holding or not, there is a need to have an idea about what you are investing in, and there are different types of learning, and when you are physical, it is better. And another thing is that there are people who cannot learn on their own, and if that is the case, then they can get a mentor to help them learn.

The funny thing is, even after learning, it does not guarantee that you will start making money immediately. It will take enough time, but eventually, with time, results will start showing, and this is why you don't just start and then the next thing start giving up. It does not work that way. no pain no gain.

[Cookdata]

There are quite alot of information on the internet, both the good and misleading information. Being a newbie in this era where scams and fakes are more than the genuine and almost looking identical. I will advice all newbies who are here in this forum to always ask questions here if they come across any offer they doubt or any challenge at all. They'll be sure of getting a good number of genuine replies from members here. That's the privilege they get for being here

There is no misleading information on like scams and fraud on Bitcoin internet, the worst is that query search engines are not helping at all because when you ask them for some information, instead of showing things you need, they give people a personalized ads first because that's the only language they know best, they don't check the ads they list for people. Many people have fell for this scams over and over and the personalized crypto ads never ends.

If you enter Google now and search for anything about Ledger nano, there is high chance of you see Ledger ads but the link isn't actually legder website, it's a phising link that will ask people for either there private keys or seed phrase. A newbie that doesn't know how this things work will becomes a victim of robbery by google, they are meant to do some research before they allow this things to the public but no, the only language they understand is the money that's comes for the adverts, that's the only thing they understand.

[Su-asa]

It's very important to do your own research (DYOR) because it helps you get more informations that is need for any investment in the crypto space and outside the crypto space, it also helps you stay updated and ahead of scammers on the crypto space. Like over here, if you are an active person in the Bitcointalk forum, you will see alot of informations that's based on how to protect your wallet in other to prevent it from scammers.

[Pablo-wood]

Making research enables us to develop the insight about an investment on any currency in crypto, all in being done in other to ascertain our doubts and clear every biased thoughts we may have towards investing on any coin or project, so when we choose not to research before investing, then we may just have signed a deal to lose our money on such investment as a liability, we are always expected of making research on anything before going for them, because after we have satisfied level of information about such, we make decision on whether to invest or not.

To add to this notion that  research shouldn't be neglected. We can  liken it to  a business venture, I use this instance because everyday we experience new approach to stay on top of our competitors .

From my experience I have come to the conclusion that research in investment doesn't mean we won't experience losses but it goes a long way to reduce them. Also considering the fact investments relies strongly on our decisions , it isn't wise to jump into them blindly without having a strong base for making our decision.

[Natalim]

There is risk in bitcoin and cryptocurrency in general but when you accurately do your own research, you will be able to make calculated risks and this will prevent you from losing funds more than you can handle.

It's not only for Bitcoin or other cryptocurrencies; each business you start needs to be researched very well. Cryptocurrency is more complicated and needs to be learnt before you jump on it. If you are on a forum and actively engage in discussion, it's enough to learn about crypto. When you spend enough time on the forum, you will get a lot of resources from here that you can study.

Beginners always need to know Bitcoin or any other cryptocurrency isn't a quick-rich method. In the internet world, it's pretty easy to know about anything, and about crypto, you can gain a lot of knowledge as well; you just need a strong intention. I will advise spending more time on the forum for learning purposes so you can build your skill properly.

True, bitcointalk is a perfect catch for learning bitcoin, most particularly on how lessen the risk associated on it and on how to take calculated risk after. However, despite how informative this forum is, it’s also a more helpful way to acquire valuable information from other sources, and combine all of them for a better and faster understanding.

And most of all, learn from the experiences of old investors. I’m proud to say that majority of the forum members here care for their co-members, and that’s one asset that this forum keeps the new members amazed.

[tabas]

It's very important to do your own research (DYOR) because it helps you get more informations that is need for any investment in the crypto space and outside the crypto space, it also helps you stay updated and ahead of scammers on the crypto space. Like over here, if you are an active person in the Bitcointalk forum, you will see alot of informations that's based on how to protect your wallet in other to prevent it from scammers.

Being active here helps us identify if there are new trends of scams that are being done in the community. And if we're going to spend some time reading all of those scam accusations and other tricks that have been done to others, we will be aware on how to avoid them and as well as spreading it to others to be informed. Off topic: I think that the word information can be both used as singular and plural and it doesn't need an 's' for it to justify that you've got a lot of it. I'm not an expert but that's what I've learned from staying here.

[Distinctin]

The whole point of this, if you want to succeed in life, or specifically if you want to succeed in a risky investment like bitcoin, first and foremost, know your investment well by doing initial research prior to putting your funds into it. Bitcoin, like any other asset, it should be dealt with caution, sufficient knowledge and even developed skills and strategies so that in the long run, the investment will continue to succeed and prosper.

Otherwise, if you find research only beneficial after committing some mistakes or losses, not only you missed some profiting opportunities, but you will also deal some kind of regrets.

[Rustam Meraj]

The whole point of this, if you want to succeed in life, or specifically if you want to succeed in a risky investment like bitcoin, first and foremost, know your investment well by doing initial research prior to putting your funds into it. Bitcoin, like any other asset, it should be dealt with caution, sufficient knowledge and even developed skills and strategies so that in the long run, the investment will continue to succeed and prosper.

Otherwise, if you find research only beneficial after committing some mistakes or losses, not only you missed some profiting opportunities, but you will also deal some kind of regrets.

Doing research is most important step for any major life decision. This research turns gamble into smart choice. You are right that long term success comes from understanding market and managing risks not from seeing it as way to get rich quick. It is much better to be proactive and learn from research than to be reactive and learn from mistakes which you make in past. This mindset is truly leads to lasting success.

[Oshio-man]

It's very important to do your own research (DYOR) because it helps you get more informations that is need for any investment in the crypto space and outside the crypto space, it also helps you stay updated and ahead of scammers on the crypto space. Like over here, if you are an active person in the Bitcointalk forum, you will see alot of informations that's based on how to protect your wallet in other to prevent it from scammers.

Every research you Carry out that is positive, make sure you make use of it in the forum or outside which is the reason of spending time to research some important things from the forum. Your research help you and other newbies to discover new things that will help them to improve in the forum, and any good research you keep to yourself without sharing the good news of the result you get from the research to other enthusiasts, it will give those looking for such solution a tough time before they can find solution to their problem in the forum. That is another positive side of those that are very active on the forum, it will help them not to miss a single update or impart that will be coming from the legendary or hero members in the forum.

[albon]

For me, this is the most important advice you can give to any beginner: don't rely on someone to guide you, as they might scam you or give you wrong information. You must do your own research,  not only when investing in Bitcoin but also in altcoins. There are projects you need to study thoroughly from all angles to decide whether to invest or avoid them.

Several months ago, during the meme coin hype , a close friend of mine lost a lot of money because he decided to invest without researching the token contract or checking the locked liquidity, etc. As a result, he fell victim to a rug pull scam.

Also, in the scam accusation section, there are many scam platforms. Everyone should research carefully before depositing funds, as I’ve seen many people lose money by trusting these platforms too quickly due to their tempting offers..

[hd49728]

For me, this is the most important advice you can give to any beginner: don't rely on someone to guide you, as they might scam you or give you wrong information. You must do your own research,  not only when investing in Bitcoin but also in altcoins. There are projects you need to study thoroughly from all angles to decide whether to invest or avoid them.

Don't trust, verify and do your own research. If possible, do your due diligent research if you value your money is too important, even vital, spending decent time and efforts for researching is necessary.

People can scam you intentionally, it's worst case but even if they don't intend to scam you, you can still lose money if those people were wrong with their thinking, speculation and decisions that affected your decisions with your money.

Several months ago, during the meme coin hype , a close friend of mine lost a lot of money because he decided to invest without researching the token contract or checking the locked liquidity, etc. As a result, he fell victim to a rug pull scam.

Losing money to top altcoins is bad like with Terra and FTX but in history of cryptocurrency market, many top altcoins failed and died. Terra and FTX are only latest examples of failed top coins.

Spending money to meme tokens is very dangerous and more stupid than doing this with top altcoins that as said can fail and die.
Cryptocurrency market snapshots.

[BlockchainWizard]

I agree with you 100% on DYOR – it’s the only real protection we have in crypto, especially since there’s no full regulation to filter out the frauds for us.
That’s exactly why I always emphasize checking not just if a project sounds good, but if the technology is modern, the dev team is competent, and the track record is clean. A lot of coins might look shiny on the surface but are actually outdated or run by people you shouldn’t trust.

Scams thrive in the absence of oversight, so without doing our own due diligence, we’re basically walking blind. And it’s not just about avoiding obvious rug pulls – even legit coins can fail if they have old tech, low adoption, or no clear use case. That’s why I say it’s better to drop such bags early and move to stronger projects.

Long-term understanding of Bitcoin is essential, but for altcoins the review process needs to be ongoing, because the space evolves so fast that what was solid yesterday might be irrelevant tomorrow.

[AmaGold70]

Knowledge is power, so as a newbie that is still coming up in building up his Bitcoin portfolio journey, it is very advisable to always do more research on Bitcoin to be aware of any update when it comes to Bitcoin and also have the full knowledge to other coins too, it is very good in doing more research on Bitcoin to help you build more knowledge in crypto world in general, and to expose any newbies to avoid some mistakes of being scammed, so it is good for sourcing information in a right channel because there many wrong information out there that misleading someone,

Knowledge is power and that's a fact and every newbie that really wants to dominate the crypto space should have every knowledge of it, most newbies are in the space because of what they have seen their friends do or the advice given to them and they fail to do their own research on it to know the full knowledge and understand it more. Knowing or hearing about something from someone else without investigating or doing your own research on it is like walking blindly and relying on others to tell you the way to go, personally, I like doing my own research and explore the knowledge more even if I get advice from a genius I still research on it to be 100% of the information given to me.

[Beni Black]

There are many Bitcoin research websites, and some of them, especially those on social media, do not provide accurate information. Because of this, you may learn the wrong thing. I found Bitcoin wiki in this community, and it's what I use most now.

[MusaPk]

It's very important to do your own research (DYOR) because it helps you get more informations that is need for any investment in the crypto space and outside the crypto space, it also helps you stay updated and ahead of scammers on the crypto space. Like over here, if you are an active person in the Bitcointalk forum, you will see alot of informations that's based on how to protect your wallet in other to prevent it from scammers.

The best practise is to spend some time on this forum on daily basis to learn "Nitty-gritty" of crypto. Their is lot of stuff available on this forum that need time to be fully grasped. Moreover their are experienced members that are present on this forum for last ten years and they share valuable information about crypto which is difficult to find anywhere else.

On internet their is enormous data and not all data is reliable. You can't get correct data unless you do some research to segregate reliable sources from fake one.     

[Xtraordinarious]

There are many Bitcoin research websites, and some of them, especially those on social media, do not provide accurate information. Because of this, you may learn the wrong thing. I found Bitcoin wiki in this community, and it's what I use most now.

You are absolutely right! So much fake information is floating around on social media these days that it becomes difficult for beginners to tell the difference between truth and falsehood. A reliable source like bitcoin Wiki is excellent because it is well-explained and has references, so you can read more. I have been following it for a while now, and I must say, it has cleared up a lot of misconceptions. Such resources are honestly a game-changer. I have learned a lot by analyzing the information this way and am still learning a lot.

[Zigabel]

Doing your own research doesn't come off easy at any point and that is why most persons does finds it difficult for them but it is very Important and  helpful for investors. Whe. You make the proper research, you get enough information such that you know how to handle investment tp your own advantage but when you are making decisions of people's ideas which you have heard verbally, you most likely will not get the most from your investment because you may be doing something wrong.

I of do my one research because from there I have secured some knowledge I wouldn't ordinarily and I make some moves that are not regular and gets others wondering how I was able to achieve that which I achieved doing the same thing they are doing meanwhile they are putting in as much effort but lack a particular piece of information which they can only  get when making their own research.

[nakamura12]

It is very important to make your own research and verify the information if it's correct. As far as I have read somewhere that there are some sources online like a news website about cryptocurreny that provides misleading information like saying that a wallet is a cold wallet when it's not really a cold wallet. That's one of the things that people should be aware of. Even if you did make some research but it could be an information that isn't accurate in the first place that's why people should verify the information first if it's accurate.

[Patikno]

It is very important to make your own research and verify the information if it's correct. As far as I have read somewhere that there are some sources online like a news website about cryptocurreny that provides misleading information like saying that a wallet is a cold wallet when it's not really a cold wallet. That's one of the things that people should be aware of. Even if you did make some research but it could be an information that isn't accurate in the first place that's why people should verify the information first if it's accurate.

Nowadays, there are so many sources of information available to us, ranging from clear and verified information, unclear information, to information that is misleading or can lead readers to misunderstand. Therefore, we need to do research and re-verify its truth, and I suggest it is better to discuss it in this forum if we find any unclear information, so people can tell us if there is an error. Personally, I usually re-verify the information I get by comparing it with other sources, so that at least it can make me more confident, and if there is any information that is unclear, then I will ask or discuss it in this forum, so that it can open new insights, and I think the method I use can be a reference for anyone, especially for newbies or beginners, because it is not only about getting corrections, but also about adding new knowledge or insights as I said.