Beginner Bitcoin portfolio roadmap

[Yugi63]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

[Youngrebel]

First you most have the basic knowledge about bitcoin. What is bitcoin, reasons why it was created and where to keep your bitcoins when you buy them. And what is wallet? And know the different between non custodial wallets and custodial wallets. And the most secure place to keep your investment bitcoins is non custodial wallet like Electrum Wallet. Where to buy bitcoin? You can buy them in moonpay if it is working in your country or someone you know as peer to peer (p2p), I will not advice you to buy from exchanges because to send them to your electrum wallet will cost you higher transaction fee. I have tried that and the fee was very high ($13 to $20).
And you have to use DCA method to buy them either weekly or monthly but that should be depending on your income flow.

[Btcdeybodi]

Welcome to bitcointalk forum buddy. Since you said you are new into bitcoin means that you don't have any knowledge about bitcoin investment so i will advice you to buy and hodl for now afterwhich you can seek for more knowledge that will guide you all through your investment period. I don't think you should mix your portfolio with any shitcoins, just concentrate on bitcoin and if there is need for you to own a portfolio in other coins then it's your choice but it should be better if you show more interest in building a sizable portfolio in bitcoin alone.

Your allocation will depend on your income and how much you can invest from your discretionary income from time to time and for risk management, just know that bitcoin is volatile, from time to time it will be experiencing market fluctuations but you don't need to panic and make sure to invest an amount that will be convenient for you without putting you in a state of discomfort after you must have invested, don't be aggressive in your investment if you can't bear the waves of the market.

[Stalker22]

If you are just starting out, I suggest sticking with Bitcoin only.  Plan on buying and holding Bitcoin and nothing else.  Dont get distracted by altcoins or meme coins.  They are risky and mostly worthless.
My second suggestion is to simply buy regularly, regardless of the price.  Dont try to time the market.  This is also known as, Dollar-Cost Averaging (DCA).  It takes the emotion out of it and is the most effective strategy for building a long-term position.

Welcome to the forum, by the way.

[Nathrixxx]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

I appreciate your courage towards learning and this is because you realize you don't have to make the same mistakes others are doing in cryptocurrency by learning, also to start with, you have to understand that as a beginner you need to choose Bitcoin as your first cryptocurrency to invest, after your investment, you also have to decide on the strategy to use before and after investing and during your holding period, which could be from the strategy you are using like buying the deep and holding, using DCA to buy and hold or even go on trade as you probably may be capable of doing it, but as a newbie, I will not advise that you should invest in altcoins because of the risk of losing your money on them at the long run.

[Su-asa]

Y'are welcome to the forum, but first of all, how did you hear about this forum? From the internet or from a friend? If from a friend I'm sure your friend might have told you little about Bitcoin and if through the Internet then it might be that guy are quite serious about Bitcoin investment. However Bitcoin investment is not a get rich quick scheme, so if you are looking forward to make quick money through Bitcoin investment then you are probably wasting your time. What you should do right now is to decide whether you can invest for long term and make sure not to diversify much of your fiat into altcoins than Bitcoin because altcoins are risky investments.

[tabas]

Should I focus on buying and holding BTC only or mix in other assets/tokens

Bitcoin only is actually good for beginners. I've done that and can say that it has been a profitable journey for me. And that's why it's a yes for me with this rather than going to and fro mixing it with other tokens that you'll randomly buy. Start with BTC-only first.

and how do I decide allocation and risk management as a newbie?

DCA(dollar-cost average).
Only invest what you can afford to lose. You don't have to own as huge as you can be, what matters is you'll consistent accumulate however you want and whenever you want.

[Davidvictorson]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

Start with any Dummy Guide to learning about Bitcoin. Usually it would entail a brief history, then how to buy and store Bitcoin, and some things about privacy. Again, nothing too serious but enjoy to make you feel at lease a d not scare you off on your first read. You can buy Bitcoin and other assets. But it may be too much for your at the start. In the beginning do not focus on diversification. Rather on buy small portions- what they call DCA. It works good easily. Lastly, I'll focus on reading and getting authentic information from reputable website, resources.

[PX-Z]

It's usually better to focus on Bitcoin first, since it's the most established and at least risky compared to other altcoins and tokens. Later, you can explore diversification, but only after you've mastered security, wallets, and risk basics.
Buying and holding is good and it's the basic things to do here, but if you want to trade more often it's good as long as you learned and get the knowledge about it.

[SATWAT]

Already mentioned by many just try to understand basic things about Bitcoin then have good knowledge of wallets because its most important thing here details available https://bitcointalk.org/index.php?topic=1631151.0 understanding of wallets and its security is always first thing in this community.

As you understand this after having good knowledge then you can go ahead with your strategy because before entering have all things ready will be helpful for you if you are interested in trading then try to learn and read about risk management because without this you will be not able to understand fundamentals of crypto trading which is volatile and can give you serious loses. Always beware of suspicious links and sites because recently too many active around here for steal funds.

[As-Soon-As]

You can start investing in Bitcoin, and it should be long-term. And you will collect according to the DCA method, in this case you definitely need a strong Bitcoin wallet. If you have the ability, you can choose a hardware wallet, and if you want to use a software wallet, you can take the Electrum wallet. And you can keep collecting Bitcoin according to the DCA method with your money weekly, then your Bitcoin investment will also help to be long-term and you will be able to buy Bitcoin dips constantly.
As a result, it will be much easier to achieve success in Bitcoin investment.

[BitGoba]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

The most important thing is to understand what Bitcoin really is, because there’s a lot of misunderstanding around it. A lot of noise and distraction. The deeper you go down the rabbit hole, the more you realize Bitcoin on a higher level  and you start to see what’s happening and where things are going.
That’s why I believe it’s crucial to take the time to study and research Bitcoin. To truly understand it, you first need to understand economics and money, the history of money, different forms of money through time, how banks were created, how paper money came into existence, and why gold was considered money for thousands of years.

That’s why I highly recommend reading books like The Bitcoin Standard, Broken Money, The Fiat Standard, and others.Read the article on the origin of money, https://nakamotoinstitute.org/library/shelling-out    Shelling Out: The Origins of Money by Nick Szabo from 2002. Nick Szabo is a well-known cryptographer and is often linked to the theory that he might actually be Satoshi Nakamoto. He worked on the concept of “bit gold,” a precursor to Bitcoin that shared many technical similarities, but he has never claimed to be Satoshi.

If you don’t understand the basics and just jump into the hype around crypto, blockchain, or trading, chasing quick profits, you will almost certainly lose money.If you lack knowledge and understanding, you won’t have the conviction to use Bitcoin as your primary money for savings or as a unit of account. If the price drops, you’ll panic and sell in fear, or get lost buying various scam altcoins hoping for bigger returns, and the result will be that you lose everything.

[Darker45]

I believe everybody should start with Bitcoin. And for as long as you can't get past your newbie phase, hodling should be the only option. Experimenting with altcoins and trading may come later, that is, only after you've sufficiently exposed yourself to the market and have already familiarized it.

Interestingly, however, by that time, you're probably convinced that Bitcoin and hodling are the two best way to go for your crypto portfolio.

[Buckley]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

You can use a simple strategy buying BTC for $50/Month or less up to your possibility. It worth it on a long distance. But it is more effective to buy on low market in years when BTC price down and everybody sell it massively, and vise versa sell it when market is on its peaks after halvings. Besides, think about active income in crypto like trading on alltcoins, that will help you to rise deposit. You can buy BTC in low market and push it to staking and just wait for a long time, you'll be in positive anyway.

[hd49728]

I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members.

Only investment, don't trading and with investment, Bitcoin is a strongest cryptocurrency in its blockchain security as well as in this volatile market, it is a safest cryptocurrency for your investment.

Invest with Dollar Cost Averaging strategy that can help your investment porfolio by gradual long-term bitcoin accumulation very well. There are some websites that can support your DCA practice.
https://costavg.com/
https://dcabtc.com/
https://www.bitcoindollarcostaverage.com/

Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

Only invest your money in Bitcoin.
Don't expand your investment from Bitcoin and mix it with altcoins. Altcoins are low or zero value, very weak and can die any time especially in a bear market.

Invest your money in altcoins means losses in the future.
How many cryptocurrencies have failed ?

[avp2306]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

I don't know what you are aiming but try to see this.

https://www.fortunebuilders.com/p/how-to-invest-in-bitcoin/ and also you can add this https://www.bitcoin.com/get-started/bitcoin-trading-for-beginners/

Everything will depends on what you like to do and strategy you want to apply. Since each one of us have different preferences that's why I suggest that you better read lot of articles also good opinions, so that you can build solid knowledge towards those things that can help on your future investment on Bitcoin.

[Patikno]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

The first thing you need to know about Bitcoin is the fundamentals. Second, it is not an investment that will make you rich overnight. Third, you need to ensure the money you invest in Bitcoin is money you can hold for the long term, you should use the DCA method to manage your finances well. The last, you should have a steady income so you can make installments to invest in Bitcoin.

So, if you can implement the points I have mentioned, I am confident you can be successful in holding Bitcoin, and it can even make you feel confident and secure in your long-term investment. By the way, I advise you not to try investing in altcoins, especially those without clear fundamentals, as there is a big risk of losing your assets or money. Therefore, it is best to stick with Bitcoin, as I personally only believe in Bitcoin for the long term. Well, maybe you see it seems easy to apply, but I think most people fail, and one of the reasons is because of the many temptations, especially when hearing about someone who has succeeded in getting rich from a certain altcoin, when in fact it is one in a million people who will get it (or even more than that), so you should not be easily tempted.

[btc_angela]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

You might want to follow this several threads,

• Buy the DIP, and HODL!
• Buy Buy Buy or Sell Sell Sell?
• JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio Maintenance) by @JayJuanGee.

Best of luck in your journey.

[apogio]

Hi everyone,
I'm new to Bitcoin and trying to build a solid long-term portfolio; I’d really appreciate a simple roadmap or checklist from more experienced members. What steps should a beginner follow to get started ? Should I focus on buying and holding BTC only or mix in other assets/tokens, and how do I decide allocation and risk management as a newbie?

You 're asking for financial advice and unless someone is a financial advisor or an investing professional, you shouldn't take free advice from people on a public forum.

Hypothetically though, if you learn about Bitcoin and have a solid knowledge, you will conclude that the best roadmap is:
1. Buy bitcoin
2. Send bitcoin to cold storage
3. Repeat

[hd49728]

1. Buy bitcoin

If the buyers value privacy, buying must be done on DEX or P2P as buying bitcoins on centralized exchanges with KYC is not good for privacy.

Find no KYC exchanges
https://kycnot.me/?categories=exchange&currency-mode=or&currencies=btc

2. Send bitcoin to cold storage

There are several topics on cold storage.

Creating a cold storage wallet in Electrum.
[LIST] Open Source Hardware Wallets.
[GUIDE] How to buy a Hardware Wallet the right way.