How prepared are you before investing.

[Yablee0]

What I understand by the word preparation is the act of being financially, physically, mentally and emotionally ready in facing any challenges or circumstances that may surface in the future while carrying out a particular mission or action.

Over the years many folks has invested greatly in bitcoin and it's pretty amazing how most of them that followed the rightful path in their various investments plans has done so well for them self and their families. However, I got to realize that one of the major reasons many folks failed in their investment was as a result of poor or in adequate planning structures.

This are some of the key preparation you must put in place before investing in bitcoin and be successful :

- Have a reliable source of income : Is either you get your self a well paying job or setting up a business that can fix your bills and that of your family. This can help sustain you through the period of your investments.

- Have the passion for what you want : you might look down on this factor but it plays a significant role in achieving success in anything you find yourself doing because when you have the passion or drive in what you want to invest in it makes the whole process easy and enjoyable to you.

- Be able to raise a discretionary funds : Many people are torching a whole lot of money but they are unable to raise up a discretionary funds, am being serious about it, it requires self boundness in achieving this otherwise you can't.

- Setting up an investment target : It's very important to have a target in life because this gives you a clear outline of what you want in that your investment . Target in every investment helps shows a clear diagram of what you desire in time coming  of your investment.

- Always go by the rules that governs it: Everything investment has it rules, it secret that can ensure success, failure in following suit can cost you problem, so it's essential your stay discipline in every investment to be on track.

Their are more things to be considered before embarking on a bitcoin journey that wasn't here but you can do well to educate us.

[Rockson1]

For every potential investor that have decided to invest in bitcoin, you should be ready financially, mentally and otherwise, we can't do with knowledge and without money in bitcoin investment, although we we must not be stinking rich before we can decide to invest as long as we can figure out out discretionary income from the amount that comes to us then we are good to startup our investment, there one important point I will want make and it is for the newbies, newbies should understand that there is no need for competition in bitcoin investment, you invest with what you can afford and invest higher when you income grows, everyone financial strength is not the same so you must invest within your financial capacity so that you won't get muscle down while trying to meet up with your DCA, afterall DCA is just about accumulating with the amount that won't stress you daily, weekly and monthly.

So a potential investor must get the basic knowledge then he or she can start his investment and also he should also know that this investment is not a bed of roses so he should be ready to expect ups and down at all time which is why the market is called a volatile one market.

[TokenTikas]

Na di common scenario be dis for investment.

The preparation you have mentioned before investing is beautifully pointed out. We all know that building your foundation before investing in Bitcoin or any other investment is the real reason why you have to move forward with investment depending on how much you have learned. It is not enough to have money alone, if you do not have the right plan for investment and respect for the rules and patience, you cannot move forward with investment. The post is very nice and will be very helpful for those who will move forward with investment.

[Moreno233]

The most important preparation I know the moment the individual have had his mind made up is to make arrangement for discretionary income because it is from there the investment can be made. If there is no discretionary income, even if the person buys Bitcoin, there is no guaranty that the Bitcoin will not be sold when he has needs. But when there is discretionary income, then part of it can be invested into Bitcoin while part can be set aside as emergency fund.

[Sammye3]

I think preparation comes with a lot of discipline and tolerance for a particular course not necessarily very important but in this case investment. The major concept of preparation is driven by passion to achieve as without this all efforts are futile.

Raising discretionary funds isn't always easy with an unstable source of income but discipline would always make things work. Making investments does not really need a large amount, you can always start small as there are occasions where people who have lesser income have a better investment than people with more income.

It all depends on the mindset as it builds preparations for investment to give results.

[Gost ms]

What I understand by the word preparation is the act of being financially, physically, mentally and emotionally ready in facing any challenges or circumstances that may surface in the future while carrying out a particular mission or action.

Over the years many folks has invested greatly in bitcoin and it's pretty amazing how most of them that followed the rightful path in their various investments plans has done so well for them self and their families. However, I got to realize that one of the major reasons many folks failed in their investment was as a result of poor or in adequate planning structures.

This are some of the key preparation you must put in place before investing in bitcoin and be successful :

- Have a reliable source of income : Is either you get your self a well paying job or setting up a business that can fix your bills and that of your family. This can help sustain you through the period of your investments.

- Have the passion for what you want : you might look down on this factor but it plays a significant role in achieving success in anything you find yourself doing because when you have the passion or drive in what you want to invest in it makes the whole process easy and enjoyable to you.

- Be able to raise a discretionary funds : Many people are torching a whole lot of money but they are unable to raise up a discretionary funds, am being serious about it, it requires self boundness in achieving this otherwise you can't.

- Setting up an investment target : It's very important to have a target in life because this gives you a clear outline of what you want in that your investment . Target in every investment helps shows a clear diagram of what you desire in time coming  of your investment.

- Always go by the rules that governs it: Everything investment has it rules, it secret that can ensure success, failure in following suit can cost you problem, so it's essential your stay discipline in every investment to be on track.

Their are more things to be considered before embarking on a bitcoin journey that wasn't here but you can do well to educate us.

I cannot agree with you on one point. You mentioned a reliable source of income, I cannot agree with your comment. Because there are many who are investing in Bitcoin who do not have a reliable source of income but, despite that, they continue to buy through proper financial management. A person only needs a source of discretionary income to invest in it. If he can find a source of discretionary income from his income, then he can invest.

The most necessary thing to invest in Bitcoin is basic knowledge about Bitcoin, faith in Bitcoin and a source of discretionary income. If a person does not know what Bitcoin is and why he is investing in Bitcoin. Then how will he invest. If a person does not believe in Bitcoin and starts investing, he may get very scared during the decline and sell his holdings. The amount of money that is left after deducting all your expenses is your discretionary income.

[Youngrebel]

The main preparation is the emotional preparation because your have to prepare to face the volatile nature of bitcoin movement. Many people are afraid when the price is coming down and became panic to sell for the fear of losing all or it will take time to rise again. But if the investors have other way of getting income then they wouldn't panic again and they should use the DCA strategy to buy more in the time when the price is coming down and not to be panicking.

[Mykon Bobby]

This is the kind of question I used to ask myself when planning to invest my money. Anyone that wants to succeed in any kind of investment must have his or herself this question, how prepared are you before investing. Sometimes investments have a lot of risks in it. Some say That preparation is the key to success so a good preparation give birth to successful investment. A poor preparation give birth to dangerous investment eg lost of money, time and effort

[Dzwaafu11]

The main preparation is the emotional preparation because your have to prepare to face the volatile nature of bitcoin movement. Many people are afraid when the price is coming down and became panic to sell for the fear of losing all or it will take time to rise again. But if the investors have other way of getting income then they wouldn't panic again and they should use the DCA strategy to buy more in the time when the price is coming down and not to be panicking.

DCA is one of the sweetest strategies to do when investing in Bitcoin. Especially for people that are investing small amounts from time to time before it grows, you will easily know the amount you have put in there through the DCA method. As for preparation, emotional preparation is not enough. The most important thing to be prepared for is the knowledge of how to invest and store your bitcoin. Safely

[Bright0515]

Preparation is more important before investment so that you can successfully invest with going through any unnecessary pressures from different angles. Having a reliable source of income is the number one thing to prepare before you start to invest on Bitcoin. Another is having emergency funds so that you will not sell some| piece of your investment when emergency occurs. Passion is very good about investment because when you are not participate about your investment you will not take it serious as it's supposed to be.

[Asiska02]

There are more things to be considered before embarking on a bitcoin journey that wasn't here but you can do well to educate us.

You have got a really good points put together which makes a lot of sense and won’t warrant adding more or just adding a little to what you’ve said. Investment is what everyone would want to venture into at a point in their lives because of how profitable investment becomes in the future when you venture into a good one. Everyone wants to invest, but not so many of them have the zeal to be able to keep up with the investment in the long time because of the dedications and sacrifices you have to make to make it worthwhile.

Bitcoin investment also requires you to be very patient, dedicated and be committed to what you want to achieve or you’ll miss getting the best part of it and making that profit you’re aiming to achieve from it. With the points mentioned above, once someone is able to follow them and abide by them, they’ll make a good and profitable investment in Bitcoin.

[Joy- maker]

OP your point are valid, bitcoin investment is not something that someone should just dive into without proper preparation if not the person will end his or her bitcoin investment journey half way. Firstly you need to have something doing as in a source of income to enable you map out discretionary to invest in bitcoin, because you are to invest in bitcoin with your discretionary income (leftover money) and not money meant for settling your basic needs and expenses, and investing in bitcoin with random money doesn't also make sense, and anybody who is investing in bitcoin with random money will never scale through, because you are to hold bitcoin for long term 4 to 10 years or longer to enable you make reasonable profit. Secondly you have to set up emergency fund and always allocate 20 to 30 percent of your discretionary income to your emergency fund, because emergency fund is Very important to avoid selling of your bitcoin investment at early stage of accumulation in lost when emergencies arises, since there will be emergency fund to handle those emergencies. Thirdly set an accumulating target, and be consistent in accumulating bitcoin until you reach that your accumulating target and then hold for long term.

[Callido]

If only new investors pick interest to learn about bitcoin they won't face challenges, anyone who refuse to learn has already made plans to fail because ignorance can cause the loss of so much already accumulated. The system don't fail, we ourselves are the problem and reason why there has been records of people losing their portfolio, simple security tip some investors are not aware of.

It is not just about buying bitcoin, anyone that can't protect their asset should not get involved yet, it is better to be knowledgeable af first than acquire all one can and lose everything because they failed to learn about bitcoin security and privacy.

[icebar]

I don't want to complicate the matter. In terms of investing in Bitcoin, I think only if a person has a regular income, especially if he has a discretionary income, then he is suitable for investing in Bitcoin. He can take preparation for investing in Bitcoin. If you do DCA without worrying too much about investing in Bitcoin, then you can invest in Bitcoin without any worries. I think there is no need for special preparation for this. It is good if you can start investing as soon as possible and start holding Bitcoin.

[NurseHub]

I am not prepared, I was not prepared but guess what I am preparing and working on it already, being on the journey already why learning he rules that governs it and achieving different mile stones is the best that wanting to put everything together before you start investing because time definitely waits no man so getting to know the rules while going through it is the best pattern.

[AmaGold70]

One of the best ways that I prepared myself for investing in Bitcoin is by getting a job a stable income that would be able to take care and provide for all my needs until my investments are fully matured enough to start giving me profits and we all know how long it takes to get good profit in Bitcoin investment is by going for the long term investment goal, I prepared myself financially, physically but mentally and emotionally I didn't do so good at first but since I have other means to survive I stood strong and I'm getting stronger emotionally and mentally.

[rachael9385]

What I understand by the word preparation is the act of being financially, physically, mentally and emotionally ready in facing any challenges or circumstances that may surface in the future while carrying out a particular mission or action.

Over the years many folks has invested greatly in bitcoin and it's pretty amazing how most of them that followed the rightful path in their various investments plans has done so well for them self and their families. However, I got to realize that one of the major reasons many folks failed in their investment was as a result of poor or in adequate planning structures.

This are some of the key preparation you must put in place before investing in bitcoin and be successful :

- Have a reliable source of income : Is either you get your self a well paying job or setting up a business that can fix your bills and that of your family. This can help sustain you through the period of your investments.

- Have the passion for what you want : you might look down on this factor but it plays a significant role in achieving success in anything you find yourself doing because when you have the passion or drive in what you want to invest in it makes the whole process easy and enjoyable to you.

- Be able to raise a discretionary funds : Many people are torching a whole lot of money but they are unable to raise up a discretionary funds, am being serious about it, it requires self boundness in achieving this otherwise you can't.

- Setting up an investment target : It's very important to have a target in life because this gives you a clear outline of what you want in that your investment . Target in every investment helps shows a clear diagram of what you desire in time coming  of your investment.

- Always go by the rules that governs it: Everything investment has it rules, it secret that can ensure success, failure in following suit can cost you problem, so it's essential your stay discipline in every investment to be on track.

Their are more things to be considered before embarking on a bitcoin journey that wasn't here but you can do well to educate us.

The first point you made is very important,  a lot of people find it difficult to keep up with their investment because they don't have a source of income, let's say they invest in Bitcoin their pressing needs won't allow them wait patiently for them to make profit from their investment before selling. Without a source of income you shouldn't be thinking of having an investment, no matter how hard you try it can't work, this is a very important point but people don't adhere to it

[Tetu100]

My brother watin you talk really hold water Wella, money na watin way no dey easy to find so e dey very important for person  to dey well prepared before embarking on any form of investment, many people don make similar mistakes like that and e no end them well, them just jump into investment without proper planning at the end e no come go well for them as them expect am .Bitcoin investment they very easy and profitable only when you know the basics knowledge about it.

The point be say just do the needful by investing using your discretionary funds and also creating an emergency funds so Incase any real life challenges come you fit get watin to use solve an instead of deeping hands in your investment.

[Abiokuta]

Investment definitely have rules, while I enjoyed reading this post, I think I should share a bit of my experience on investment especially the one made on coins. The rules are quite simple, make it <clean and un-noticed> This means never borrow money or use your last card to invest. I made this mistake once, borrowed money to invest in a pump and dump coin, it was obviously overhyped, but what do I know outside getting rich quick? So I promised my lender a huge return(Big mistake), The second, don't use your last cash to invest. This thing is just going to affect your psychology and make it worse when the coin is dropping. Use the figures you can afford to loose(Easy), in this way, your investment becomes un-noticed not like bros Okoro sweating behind his phone screen because of small red(drop)

[durg0319]

The most important preparation I know the moment the individual have had his mind made up is to make arrangement for discretionary income because it is from there the investment can be made. If there is no discretionary income, even if the person buys Bitcoin, there is no guaranty that the Bitcoin will not be sold when he has needs. But when there is discretionary income, then part of it can be invested into Bitcoin while part can be set aside as emergency fund.

Having a discretionary income is very good because it keeps your investment safe from emergency spending. Alot of people buy Bitcoin with the money they are supposed to use to pay for other expenses and when unexpected needs come up, they end up selling at the wrong time. Setting aside an emergency fund first gives peace of mind and allows you to hold your Bitcoin longer.