Beginner Bitcoin portfolio roadmap

[sokani]

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?

As someone that's just getting started, I would advise that you stick to Bitcoin because most of the altcoins are scams, especially memecoins. Sticking to Bitcoin would save you from investing in fake coins or tokens where you could lose your funds. Also, you can be buying bit by bit as you have money, which is also known as DCA, or you can buy by a lump sum. You just have to choose a method and start accumulating.

[EluguHcman]

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?

Maybe i should share this link with you. It is an ugly experience of a forum users who had made several mistakes by investing on Alt Coins which where totally shitcoins and hope it was going to perform like Bitcoin during his begining stage but it was to no avail after loosing his money and later realized Bitcoin was best reliable to invest on While diversifying to Alt Coins demands more experience about Crypto and understanding the concepts of volatility.

So for the benefits of not regretting, see Bitcoin as the only reliable digital asset at your level as a newbie because there are too many worthless (shitcoins) being developed and imitating Bitcoin but are full of hypes. Beginners like you had always fall victim by investing on those shitcoins and thereafter out of inexperience tag crypto as scam after loosing their funds. So as a newbie, I am recommending you to invest on Bitcoin which is most reliable digital assets. And note that crypto is not a scam but there are Alt Coins developers whose interests is just centered to lure users and steal their funds. Be guided.

This link contains basic and professional guidelines for Bitcoin and crypto users including wallet and security guides.
https://bitcointalk.org/index.php?topic=5275357.msg55181788#msg55181788
Sure would help you and other newbies make wise and secured decisions if you are attentive and truly want to explore in the cryptography.

[Razmirraz]

If you are new to Bitcoin and want to get directly involved with it, especially investing in the long term, then the first thing you have to do is understand the basics of Bitcoin, then continue to learn and increase your knowledge about everything related to Bitcoin, including monitoring the market regularly and conducting personal analysis before starting to invest so as not to make the wrong decision.

Over time, you can develop an effective investment strategy and manage risk well. The most important thing is not to rush into making decisions and try to invest with money you can afford to risk. Investment strategies and risk management are also essential for determining investment goals. DCA is commonly used and easy to apply for beginners just starting out in investing. Don't forget to always set stop loss and take profit to limit losses and secure profits.

Never be afraid to go further, especially when it comes to Bitcoin, because after being on the Bitcointalk forum, you will gain a lot of knowledge and can also ask seniors directly about things you haven't mastered.

[hd49728]

As someone that's just getting started, I would advise that you stick to Bitcoin because most of the altcoins are scams, especially memecoins. Sticking to Bitcoin would save you from investing in fake coins or tokens where you could lose your funds. Also, you can be buying bit by bit as you have money, which is also known as DCA, or you can buy by a lump sum. You just have to choose a method and start accumulating.

It is so right things to do (with Bitcoin) and avoid (with altcoins) and I recommended similarly too. I would prefer to advise one more thing, don't let cheap prices of altcoins and more number of altcoins you can buy with same capital to derail your investment decision from Bitcoin.

Most newbies are attracted to altcoins because they consider Bitcoin as too expensive, and altcoins are too cheap so that they say No with Bitcoin, and Yes with altcoins. The severe wrong thinking and terrible mistake made are like things are only expensive if they are overvalued and you will pay too high cost for it while later you can not sell it with same price or with very big loss.

With Bitcoin, if you can hold it a long time, you won't have to sell it with loss while with altcoins, you hold them longer, you will increase risk of having loss and bigger loss with time.

These articles can enlighten newbies on risk of altcoins.
The two types of altcoins: an investor's view. Two types are Oscillator and Degenerator. Unfortunately, most altcoins are degenerators, not oscillators.

How many cryptocurrencies have failed ? is another article with strong reminder on high risk of altcoins.

[Marykeller]

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?

Basic knowledge should come first before starting the investment journey in Bitcoin because you can't jump into a field without knowing what's involved and the precautions that should be taken to end up successful.

Being successful in the crypto market requires us to be diversified, apply DCA, and have a long-term investment plan. All that will be possible if you learn to think about investing in Bitcoin more than you do in altcoins.

Remember, that there's no investment without its own risk. Risk is always involved. It is how you risk it that will give you the desired profits, if it is a well-calculated risk

[pawanjain]

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?

Keep it simple. Buy bitcoin with whatever money you save for the month. Keep this consistent.
It will help you buy bitcoin using DCA (Dollar Cost Average) which is a good strategy for beginners.
Don't focus on altcoins for now until you buy a decent chunk in bitcoin.
Also, if you have a skill then you can use that to earn more money and buy more bitcoin or may be get paid in bitcoin directly.

[Bright0515]

Welcome onboard mate, read all the comment on here because they are helpful, they will help you understand perfectly what you really need to know about the forum. I did not bother you read all the comments on the thread so I don't know if someone might have share the link of the forum rules to you already but here it is: https://bitcointalk.org/index.php?topic=703657.msg7955645#msg7955645]

If you want to invest in bitcoin, you should probably invest for long term and also use DCA strategy to invest to make profits in the future.

[Makus]

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?

Firstly, welcome to the forum, it's a good thing you located the beginner and help board to ask this valuable questions. As a beginner I'll recommend you focus on bitcoin alone rather than diversifying to other projects. And if you have a steady source of income you might want to make use of the DCA, and even if you don't earn on a steady bases the DCA is still the best choice for you. It'll help you remain calm and confident of yourself especially in this early stage when you might start having emotional issues with price when you experience dips or sideways movements for a while.

[Ndabagi01]

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?

As a newbie, focus on investing in bitcoin, let it take the bigger part of your portfolio. Your bitcoin should take about 80% of your investment if you ever wish to invest in other assets, but if you don’t have any wish to diversify into other assets, just focus on bitcoin only, it gives you the freedom other assets can’t give you in the long term. When it comes to BTC investment, the risk is very low when you’ve decided to invest for the long term and you’re using your discretionary income to do the investment. To have a proper low risk investment, have an emergency funds set aside while investing in bitcoin and use only amount you’re ready to set aside for the investment.

[knowngunman]

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?

To begin with, what do you hear or know about Bitcoin? What do you know about wallet? What's your risk tolerance level?

These questions may seem simple but trust me if you can not answer them accurately, you shouldn't be talking about building portfolio or whatever. Moreover, your response to these questions will serve as the basis to offer you a more reasonable advice. Don't rush into what you'll regret later simply because you don't have the basic knowledge.

[SOKO-DEKE]

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?

Despite saying that you are a newbie, I would like to ask if you have basic knowledge about Bitcoin and cryptocurrency in general.What I mean by basic knowledge includes understanding the risks involved in both Bitcoin and other alternative coins, as well as knowing how to buy Bitcoin from an exchange and move it to your personal wallet.If you do have this knowledge, then you are free to invest. But if you don’t, I would advise you to first calm down and learn the basics before investing your funds in Bitcoin or any cryptocurrency.

So, my advice for you as a newbie is to fully focus on Bitcoin investment for now, and not to try investing in other altcoins.The reason I say you should focus on Bitcoin is that Bitcoin carries less risk compared to altcoins. Many altcoins are just pump and dump" schemes, and as a newbie, it will be hard for you to differentiate between the good ones and those designed to scam people.Trying to invest in the wrong altcoin can lead to losing all your funds quickly, as these schemes are designed to manipulate prices and exploit inexperienced investors.Also, if you want to invest in Bitcoin, do not invest money you can’t afford to lose. Only use discretionary income not money you may need in the near future because Bitcoin is highly volatile in nature. Its price can decrease or increase at any time.

[BlackBoss_]

Despite saying that you are a newbie, I would like to ask if you have basic knowledge about Bitcoin and cryptocurrency in general.What I mean by basic knowledge includes understanding the risks involved in both Bitcoin and other alternative coins, as well as knowing how to buy Bitcoin from an exchange and move it to your personal wallet.If you do have this knowledge, then you are free to invest. But if you don’t, I would advise you to first calm down and learn the basics before investing your funds in Bitcoin or any cryptocurrency.

Understanding very fundamentals about Bitcoin like

Bitcoin private keys.
Which wallets provide Bitcoin private keys to users. The answer is non custodial wallets.
Which wallets are better between open source and close source. The answer is open source wallet.
Necessary steps to use wallets: install, verify, make backups, use backups for recovery.

These things are fundamentals but they are also vitals for fund safety so it's worth to spend decent time for learning about them.

[348Judah]

Starting cryptocurrency does not permit to include altcoins in the early stage of your journey, if you want to have an itch free experience at last, understand why bitcoin is first needed and how you could choose to develop a suitable strategy in its investment as to how you can safely  secure a path through a suitable investment, some can buy to accumulate over time using DCA, buying the dip and holding and so on as we may see it applicable and affordable by us.

[Rustam Meraj]

As new investor best way to start with Bitcoin is to first learn what it is and how it works. You should only invest money you can afford to lose and it is good idea to invest small amounts regularly means Dollar Cost Averaging. To keep your investment safe you should use trusted exchange and store your Bitcoin in secure wallet like hardware wallet for long term holding. It is mostly recommended to focus on Bitcoin first before considering other riskier cryptocurrencies. So it is good to have clear plan and stick to it without making emotional decisions.

[goldkingcoiner]

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?

Don't sell just because you are panicking about a current dump, or news event. That is the best advice I can give you. Had I followed this advice when I was a newbie to Bitcoin, then I would not have lost a LOT of money.

You can buy other assets but I would not recommend it. In the long term, Bitcoin is the only coin which truly gains value. Altcoins/tokens usually dump back down to where they were, even if they rise in price faster than Bitcoin. But they do not stay at that level and just crash out.

[hd49728]

Starting cryptocurrency does not permit to include altcoins in the early stage of your journey

It can be your advice and also a common advice by experienced people in cryptocurrency market but the reality is opposite. Newbies in this market are mostly attracted to altcoins which are cheap in their eyes and unfortunately, they lost a lot of money to altcoins that are mostly useless and scam.

As new investor best way to start with Bitcoin is to first learn what it is and how it works.

How to buy and where to buy bitcoin. With concern of privacy and no concern of privacy, there are different exchange options to buy bitcoins. If you want privacy, choose DEX or P2P but if you don't care about privacy, use Tier1 Centralized Exchanges.

Know how to store bitcoin and where to store it. Recommendation goes to non custodial and open source wallets for bitcoin storage.

Don't sell just because you are panicking about a current dump, or news event. That is the best advice I can give you. Had I followed this advice when I was a newbie to Bitcoin, then I would not have lost a LOT of money.

You can buy other assets but I would not recommend it. In the long term, Bitcoin is the only coin which truly gains value. Altcoins/tokens usually dump back down to where they were, even if they rise in price faster than Bitcoin. But they do not stay at that level and just crash out.

Don't buy because you see the others are FOMO and you want to join the FOMO wave.
Don't sell with panic because you see the others in the market are panicly selling and you read fud news.

It's easy to say but practically, it's very challenging if you don't prepare your knowledge, finance and investment capital well enough.

[Bitcoin Smith]

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?

How long you are planning to hold? and will you be okay with losing your capital?

The safe choice in crypto is bitcoin, you can see them on every crypto exchange and there are other possible ways to buy them like p2p, f2f, OTC, DEX and swap exchanges. And I will recommend buying via any centralized exchange if you are not concerned about privacy.

Mixing altcoins can be tricky and I won't suggest it for a newbie but who learns from other's mistake?

[finaleshot2016]

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?

Welcome to the Forum bro.

You can stick to BTC since it has a solid foundation especially for long term hold but if you're flexible for other assets, you might check the no. 1 altcoin which is ETH that is also considered to be part of ETFs
https://etfdb.com/themes/ethereum-etfs/

But you should find a good position since we're currently on peak or you can DCA always since long-term hold is your main play for trading.

[justinlamode]

Starting cryptocurrency does not permit to include altcoins in the early stage of your journey, if you want to have an itch free experience at last, understand why bitcoin is first needed and how you could choose to develop a suitable strategy in its investment as to how you can safely  secure a path through a suitable investment, some can buy to accumulate over time using DCA, buying the dip and holding and so on as we may see it applicable and affordable by us.

You are right my friend, a new investor will do better if you stick with only Bitcoin. The risk is smaller and bearable unlike some other altcoins that you can wake up all your money is gone. Most of the major losses that we experience in cryptocurrency are from altcoins and those can be avoided if one invest only in Bitcoin.

[Awaklara]

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?

Because you want to build a long-term investment plan. Yes, I would suggest focusing first on Bitcoin. For Altcoin assets, you can study them first. Not all Altcoins are bad.
For your investment allocation, it actually depends on your financial capability. You need to manage your finances well first, until you find the right value to invest.
For more comfort, it’s better for you to separate savings funds and investment funds in your financial management. Some people set aside emergency money to anticipate securing investment assets if there are issues with their finances in the future.