Things you need to know before investing in Bitcoin

[Lembo69]

Bitcoin enthusiasts think in different ways and are confused about what is right and what is wrong. If you are in this situation, then first you should know about Satoshi Nakamoto's cryptocurrency. Why and for what reason the journey of cryptocurrency started. No matter which sector you invest in, there will be risks, to be risk-free, you should first know and understand Bitcoin well. You should do more research about Bitcoin. Because Bitcoin is known as the best currency of the present time. And Bitcoin is also in high demand. There are Bitcoin investors in all countries of the world. So before investing in Bitcoin, you should keep your mind and eyes and ears open. Because there are many possibilities of hacking in Bitcoin and the cycle is endless. People think more about how they can steal your money. You should always be careful. When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

If you invest without patience, you can lose your money. Suppose you have invested for 4 years. But after a year, your patience waned, and you sold your investment in hesitation, due to which you will fail in your investment. However, if you can invest patiently, you may be successful. Try to invest as long as possible, it will be more profitable if possible.

Caution, whatever you do, first of all, caution is needed, such as using a helmet while riding a bike for caution. To make life risk-free. Or wearing a seatbelt before driving a car is also a precaution, so that the risk of death in an accident is low. So you have to be careful in any work. The same is true in investing.

Do more research about Bitcoin, I hope it will be profitable for you.

[DaNNy001]

First thing you actually need before investing in Bitcoin is knowledge, you can have the money and still end up doing the wrong thing which might cost you your capital...Take out some time to work on learning about that crypto market so that you would be able to identify things that are fraudulent so you don't fall for a Bitcoin scam...patience is key and without it you might not benefit much from it

[Rockson1]

First thing you actually need before investing in Bitcoin is knowledge, you can have the money and still end up doing the wrong thing which might cost you your capital...Take out some time to work on learning about that crypto market so that you would be able to identify things that are fraudulent so you don't fall for a Bitcoin scam...patience is key and without it you might not benefit much from it

basic knowledge is what we all got to get before we can invest in bitcoin, we don't have to know much because in the process of knowing much, we may stumble upon diverse news or negative news that may hinder us from investing in bitcoin, money may be one of the major apparatus that we all need to invest but basic knowledge is just like the foundation and the enablement for us to start the journey, every beginner must comprehend the fact that bitcoin investment can be done gradually, it must not be with big amount of money but any amount we can afford but it has to be done consistently, figure out your discretionary income and emergancy funds to enable you invest without having to fall back to your portfolio for unexpected needs.

[Adams0001]

You should always be careful. When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

We always need funds to invest in bitcoin or any other business, because without it your investment will never be possible. But before we try to invest our money in bitcoin we need to understand everything About it and get more experience on how he goes,  because they are some people that they are rich but they usually failed when investing, they just need profit, but don't have knowledge about what they are trying to do. investing without thinking of losing because they usually believe that they are in wealth they won't care of losing.

But knowledge is power without it even you are patient for years, when you don't acquire the knowledge about what you are trying to invest you will always failed to succeed, since you didn't get the step to follow to achieve your goals on it. Some investors don't like to be active when they have invested already, they set a plan and target before checking there investment. Like in bitcoin we need to invest for the long term, so some people that invest in bitcoin will wait for the years they plan to sold there coin before checking there wallet. Because by checking how the bitcoin market is volatile you can probably change your mind to sold your coin when you haven't reach your target, because the price is dropping and thinking you will lose everything in the market.

If you invest without patience, you can lose your money. Suppose you have invested for 4 years. But after a year, your patience waned, and you sold your investment in hesitation, due to which you will fail in your investment. However, if you can invest patiently, you may be successful. Try to invest as long as possible, it will be more profitable if possible.

Patient is one of the key aspects that make many of investors achieve there goals, because without it you will always find it difficult to succeed on anything you plan to do. If you are not a patient type you will never achieve your dream on bitcoin investment, Bitcoin need patient if you want to be among to benefit users, that is why not everyone can invest in bitcoin or any other business that can bring you huge money. What some people don't really understand about gaining profit is that if you really need profit, just put that in mind that you need to face some challenges before you can reach your target. nothing is easy to access you need to fight for it and have the patience.

If you are not a risk-taker you can't handle patient because that is what will make you never givup not a motivation, because is just for some few time, but patient will always make you wait for your dream. If you can't invest for long term in bitcoin I don't sure if you can able to reach your goals, because is always unpredictable but the long term can change everything. since we always believe that bitcoin will definitely be increasing time to time no matter what, because is still functioning well and people are investing and trading with it. so definitely you will always reach your target if you put it in mind that you will be among the profitable ones in bitcoin investment.

[Nightwatchmare]

When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)

You should replace money with discretionary income in the three things someone needs when investing in Bitcoin so that newbies will know the right money they will use to invest in Bitcoin because newbies may use the money that's meant for their expenses to invest in Bitcoin, and when their expenses arise, they will have no money they will use to solve their expenses, which will make them fall back to sell their Bitcoin so that they can solve their expenses.

[SatoPrincess]

1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

Money dey important but without knowledge you ko go fit get the kind results way you dey find. Na lack of sufficient information nai make people dey throway money for shitcoins and anything way get hype so for me, the order way I go take place them be say knowledge go come first, then money before patience, and caution.

[Fiatless]

Anybody wey come meet me say him wan learn about Bitcoin, I go just tell am the basic things first. Then the next move na to introduce am to Bitcointalk make him come learn more. I go show am some topic wey go help am learn some important things. Then I go now hand am over to JayJuanGee for proper lectures about DCA, hodling and patience because na him bi proffessor for that area .   

[Yablee0]

Bitcoin enthusiasts think in different ways and are confused about what is right and what is wrong. If you are in this situation, then first you should know about Satoshi Nakamoto's cryptocurrency. Why and for what reason the journey of cryptocurrency started. No matter which sector you invest in, there will be risks, to be risk-free, you should first know and understand Bitcoin well. You should do more research about Bitcoin. Because Bitcoin is known as the best currency of the present time. And Bitcoin is also in high demand. There are Bitcoin investors in all countries of the world. So before investing in Bitcoin, you should keep your mind and eyes and ears open. Because there are many possibilities of hacking in Bitcoin and the cycle is endless. People think more about how they can steal your money. You should always be careful. When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

If you invest without patience, you can lose your money. Suppose you have invested for 4 years. But after a year, your patience waned, and you sold your investment in hesitation, due to which you will fail in your investment. However, if you can invest patiently, you may be successful. Try to invest as long as possible, it will be more profitable if possible.

Caution, whatever you do, first of all, caution is needed, such as using a helmet while riding a bike for caution. To make life risk-free. Or wearing a seatbelt before driving a car is also a precaution, so that the risk of death in an accident is low. So you have to be careful in any work. The same is true in investing.

Do more research about Bitcoin, I hope it will be profitable for you.

In all patience is the under lining factor that is more important in every bitcoin investment because without being patient I doubt If you can ever hit up your investments target.

In present time many investors wasn't able to hold for long term plan due to unforeseen futures challenges that later came up, that is why it more healthier approaching every bitcoin investment with your discretionary funds and mapping out an emergency funds that can be fixing all Your future bills throughout the period of that your investment.

However,
patience is  one of the outstanding factor that must be considered and put in work to achieve a successful bitcoin investment.

[Hatchy]

1/ Money
2/ Patience
3/ Caution (Being Active)

Most of the times, the only thing you need to invest in cryptocurency is just knowledge. Many people fail in their crypto journey because they lacked the knowledge which was required to navigate the space properly.some are driven by the idea that you can make quick profits, which is true but don't get fooled by other peoples results you see.. Many of such people had back stories that would discourage you from even thinking of investing, that's why you have to learn before putting your money into the market.. so, do proper research, have the right knowledge that should be your first priority as a new investor.

[I_Anime]

This is just basic though before going to any investment you have to have knowledge concerning them first so that you will know the right mindset to approach it , lack of this that’s why some always sees this space as a means of quick profits. I won’t blame them is what they have heard and see sofar via social medias.

Before you invest you need some good cashflow to keep things smooth though you can start with any amount but having a good cash flow will definitely make things way more easier putting you in a big advantage, same as having the right information.

[Somto9Light]

First thing you actually need before investing in Bitcoin is knowledge, you can have the money and still end up doing the wrong thing which might cost you your capital...Take out some time to work on learning about that crypto market so that you would be able to identify things that are fraudulent so you don't fall for a Bitcoin scam...patience is key and without it you might not benefit much from it

You're right, knowledge should be the first think to think of before looking for a way to build a discretionary income. Because you can't wake up one day and start investing into something you know nothing about, is wrong.

So as a new investor who is about getting started with bitcoin investment you really need to go for the knowledge before looking into any other thing, even though you may not get all the knowledge but having the basic knowledge is enough for you to get started, Maybe in during your accumulating process then you will get to know more. And surely, if you don't have the basic knowledge you can't easily detect scam. but with the help of the knowledge you can be able to detect any scam that comes your way.

[Callido]

I agree with everyone that mentioned knowledge, having knowledge about Bitcoin is very important, it is more than having money to invest what happens if the investors don't have a good knowledge of securing his asset. Bitcoin knowledge is helpful to avoid scam, how to protect wallet from attacks both phishing and malwares including hacks.

A good Bitcoin enthusiast will seek basic knowledge before moving ahead to begin his investment.

[Fiatless]

I agree with everyone that mentioned knowledge, having knowledge about Bitcoin is very important, it is more than having money to invest what happens if the investors don't have a good knowledge of securing his asset. Bitcoin knowledge is helpful to avoid scam, how to protect wallet from attacks both phishing and malwares including hacks.

A good Bitcoin enthusiast will seek basic knowledge before moving ahead to begin his investment.

People dey think say to spend time learn something na waste of time. When you dey tell them to calm down learn,  dem dey think say you no want cut soap for them. Na so I tell my man to calm down learn him ni gree. At the end him go buy one shitcoin because dem brainwash am say the coin go expensive pass Bitcoin in three months. Street boys use am cash out, na so him eye open.

It better to stay away from the crypto industry if you are not willing to learn because a slight mistake can lead to the loss of a fortune.

[adultcrypto]

First thing you actually need before investing in Bitcoin is knowledge, you can have the money and still end up doing the wrong thing which might cost you your capital...Take out some time to work on learning about that crypto market so that you would be able to identify things that are fraudulent so you don't fall for a Bitcoin scam...patience is key and without it you might not benefit much from it

When you emphasis knowledge before investing, it makes me wonder what you mean because to invest in bitcoin, you just need basic knowledge of how to buy, withdraw, chose a good wallet and how to protect your investment. This is all you need to get started, every other knowledge can be gotten while already invested in bitcoin. If you wait to know everything about bitcoin before investing, you might up not investing or missing the opportunity to buy at cheaper prices.

[GIF-JOBS]

First thing you actually need before investing in Bitcoin is knowledge, you can have the money and still end up doing the wrong thing which might cost you your capital...Take out some time to work on learning about that crypto market so that you would be able to identify things that are fraudulent so you don't fall for a Bitcoin scam...patience is key and without it you might not benefit much from it

When you emphasis knowledge before investing, it makes me wonder what you mean because to invest in bitcoin, you just need basic knowledge of how to buy, withdraw, chose a good wallet and how to protect your investment. This is all you need to get started, every other knowledge can be gotten while already invested in bitcoin. If you wait to know everything about bitcoin before investing, you might up not investing or missing the opportunity to buy at cheaper prices.

In fact, no matter what, you should never delay starting investing, you should start investing only by gaining common sense in the initial stage, in this case, the more you delay, the more you will fall behind. Bitcoin is a long-term investment, people should start investing here as soon as possible and hold it for as long as possible, you should not delay in any way and decide to sell for short-term gains, or panic due to instability. In fact, the investor should understand the right thing, and instead of delaying the investment unnecessarily, you should start investing as soon as possible with the right mindset and continue to buy consistently.

[Creeper0]

1/ Money
2/ Patience
3/ Caution (Being Active)
You cannot invest without money. So whatever you do, try to keep some money aside for investment.

In the list of things needed for investment, you can first keep basic knowledge and then have a prudent source of income. Just money, patience and caution are not enough for investment. To arouse interest in investment or to build confidence in investment, you must have basic knowledge about Bitcoin and investment. Then you need prudent money to manage investment. There is a big difference between money and prudent money. So money is not enough for investment, but prudent money is needed. Then you need to plan for investment security and have patience to hold the investment for a long time to be successful in the long term so that you can achieve your goals.

[Stalker22]

I agree with everyone that mentioned knowledge, having knowledge about Bitcoin is very important, it is more than having money to invest what happens if the investors don't have a good knowledge of securing his asset. Bitcoin knowledge is helpful to avoid scam, how to protect wallet from attacks both phishing and malwares including hacks.

A good Bitcoin enthusiast will seek basic knowledge before moving ahead to begin his investment.

I agree knowledge is important, but I wouldnt say its more important than having cash to invest!  The best security wallet in the world is useless if there are no bitcoins in it. 

The reality is: Most people do not need to be experts in security to invest in Bitcoin.  If you want to buy Bitcoin to hold, all you need to know is the basics of self custody and how to identify scams.  Its just like owning a home. You dont need to know how to build or design a house to own one, but you should at least know how to lock your windows and doors to protect your home. The same idea applies to Bitcoin! If you do not understand the fundamentals of securing your money, then you are putting your money at risk.

So, having money is the entry ticket; while knowledge is the insurance policy.

[Callido]

I agree knowledge is important, but I wouldnt say its more important than having cash to invest!  The best security wallet in the world is useless if there are no bitcoins in it. 

The reality is: Most people do not need to be experts in security to invest in Bitcoin.  If you want to buy Bitcoin to hold, all you need to know is the basics of self custody and how to identify scams.  Its just like owning a home. You dont need to know how to build or design a house to own one, but you should at least know how to lock your windows and doors to protect your home. The same idea applies to Bitcoin! If you do not understand the fundamentals of securing your money, then you are putting your money at risk.

So, having money is the entry ticket; while knowledge is the insurance policy.

Your explanation carries true facts, knowledge and cash are important, even if one has to come before the order.

There is one way of owning Bitcoin whereas there are more ways of losing wallet that holds the Bitcoin. Those who are not learned about Bitcoin security for the long run are expected to crash down, aside from infiltration of seed phrase, they may lose control over their phrase by theft, exposure or misplacement.

Conclusively on this, having both is essential, even if learning one before the other.

[Iamgoat]

When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)

You should replace money with discretionary income in the three things someone needs when investing in Bitcoin so that newbies will know the right money they will use to invest in Bitcoin because newbies may use the money that's meant for their expenses to invest in Bitcoin, and when their expenses arise, they will have no money they will use to solve their expenses, which will make them fall back to sell their Bitcoin so that they can solve their expenses.

Tell him to either make it four things or to remove the third number and add knowledge first. Going into something you do not know is a suicide mission in the first instance. If you want to learn how to either trade or invest in Bitcoin you must firstly weigh one of the two first and prioritise your suggestions based on your end goals. If your end goal is to build a portfolio now against the future, your best bet will be to select Bitcoin investment, and if your end goal is to make some quick cash out of the system, then you will be more interested in trading.

This is reason why knowledge should be the first point of contact when it comes to Bitcoin or any aspect of the financial technology is because it will be the first tool you need to make the necessary decision in the first place.

If I was to follow my order of necessity, after acquiring the basic knowledge you need, the next you need to check is your patience. You need to also understand your level of patience in making hard decisions because it will make you or negatively impact your decisions . Then money is also important because it is now the tangible or physical asset you need to begin this processes you've been maturing in the brain. Then Caution can also follow suit.

[Odusko]

The basic foundation for bitcoin investment is to first build knowledge about the market and taking the time to study the market well enough before buying your first bitcoin, and as you proceeded make sure that you keep researching and studying various timing in bitcoin market volatility and put aside emergency funds that will make you less pressured when the market goes against your predictions, since at this point most people expect positive reactions from bitcoin since bitcoin already build a name for itself around over the years.