How much think should be keep in mind when starting a Bitcoin investment ?

[Ninja Primes]

Hey there, I am Ninja,  I have researched Bitcoin for a long time, I am creating this post to fully test my knowledge, I am sharing here an overall idea of ​​how many things to keep in mind and what is needed for Bitcoin investment, you can correct me if I am wrong here.

I am explaining the things step by step:

Fundamental Understanding: To hold an investment effectively, you must have basic knowledge, how Bitcoin works, what is its main point, what is its probability of success, what is its probability of loss, the investor should first acquire basic knowledge about all these things. and after you start investing, you can learn these things, Blockchain, mining, halving process should be understood, if an investor understands these, he will be able to understand the long-term potential of Bitcoin, so he can hold Bitcoin for the long term with more confidence.



Financial Planning and Allocation: To make an investment effective in the long term, the financial condition is of great importance, it is not easy to invest without a source of income, you must have a reliable and regular source of income. Suppose your monthly income is $500, you spend a total of $400 on all your expenses every month, and you have $100 left over. After deducting all the money for all these expenses and needs, the amount of money left over from your income that is unnecessary should only be used for investments. The necessary money should not be used for investments in any way. In this case, if you do not have any source of income, then you will not be able to maintain it for the long term unless you have a separate unnecessary amount of money for any investment.



Buying strategy: You have to be consistent in buying, if you invest for long-term purposes, you have to buy continuously and also accumulate Bitcoin at an average price, and the most correct strategy for this is DCA. If you wait to buy, you will miss the opportunity, Bitcoin does not fluctuate according to your expectations, so when buying, you have to set a specific time without worrying about the price and no matter what the price of Bitcoin is at the same time every week or every month, you have to buy Bitcoin with a certain amount of money. There is no need to be aggressive here, be consistent and long-term, then this will bring good results in the long run.



Market Analysis: It is very important to be careful about the fluctuations of the market when holding Bitcoin investment for the long term, basically you have to accept the fluctuations in the market, ignore the volatility, and keep Bitcoin for long-term purposes by maintaining a long-term mindset, the market will always fluctuate a lot but you should not panic about them and keep the investment long-term by maintaining a long-term mindset.



Investment Duration: Bitcoin is not a get rich quick scheme, generally to achieve significant success from Bitcoin investment, you must decide to hold the investment for the long term, here keeping a short-term mentality means trading, the Bitcoin market is very volatile in the short term but shows a stable growth trend in the long term, in this case we have to determine the time to hold the investment in conjunction with the Bitcoin halving process. Bitcoin halving occurs every 4 years, and after each halving there is a great chance for Bitcoin to touch new heights, as we have seen in the past. So if we can decide to hold our investment for 2 to 3 halvings, then our chances of success will be very high, and this has the potential to bring us success on a much larger scale.



Emergency fund: The importance of emergency fund is essential in Bitcoin investment, but unfortunately many new investors ignore this emergency fund in the first place, it is not possible to say when the unexpected time comes, any accident comes suddenly, bad situations in people's lives take a very terrible shape and it happens in every person's life, so in such situations money is needed a lot, that is why, if you do not have an emergency fund, then in such unexpected times you will have to sell any of your valuables, to manage that unexpected situation. And as such, if you invest in Bitcoin and without any emergency fund, then in an emergency situation you may have to depend on your Bitcoin investment in any way, so this will definitely lead you to loss, because if the market is down at that time, you will have to sell the investment despite the loss.



Trusted Bitcoin Wallet and Security: "Not your keys, not your coins." Do not keep coins on exchanges for long periods of time, beware of phishing and scams, keep your private key top secret and strictly to yourself, never tell anyone about your Bitcoin holdings, you can keep it as secret as possible, the more you and your Bitcoin will be safe. Always keep 2FA enabled on exchanges, do not connect your wallet to public Wi-Fi in any way, recovery phrases should be kept with caution and caution, it is best if two copies of the phrase are kept in separate places, because if you only keep one copy and it is somehow lost, your Bitcoin will be completely blocked. So you have to be careful in these cases and keep Bitcoin completely in a self-custody wallet, Self-Custody is a right. And overall, the safest way to hold Bitcoin is with a hardware wallet, keeping it physically safe by completely disconnecting it from the internet connection, and keeping the seed phrase as secure as possible.


If I missed anything important, please let me know.

Ninja~ 

[Joy- maker]

If I missed anything important, please let me know.

You didn't really miss anything, but you forgot to include back up fund, because back fund too is also needed on the Long run, since the fund usually work hand in hand with emergency fund, and you can also use back up fund to buy the dips when ever they occur and hold for long term. And secondly why using colours to bold your words? why not just use black to make it look mature and presentable, because if you ask me this your thread is now looking childish, because of the Bolding style, and you may likely not get the attention you're looking for, so in that case I will suggest you change those bold words colour to black colour. And When I started this forum as newbie just like you I was doing things the appropriate way, so doing things the appropriate way and stop all this childish things.

[Princess Leah]

 First off, your choice of subject (topic) should've been, "things you should keep in mind when or before starting a Bitcoin investment" it would've made it less confusing cause you used "how much think" instead of how much things" anyways I read through the body of the subject matter and I think you're on point and have been taking your research about Bitcoin investment seriously.

 In conclusion, asides all the important things you just listed and explain, another important thing those who're interested in Bitcoin investment should have is "patience" cause since holding Bitcoin for longer period makes it more valuable every investor has to be patient enough to watch it grow. It's one of the key to success in Bitcoin investment.
 

[Yablee0]

You are actually on the right lane bro  you hit almost all the key points that can make up a perfect investment plan. One major thing you did that was pretty amazing was how you patiently explain step by step of all the key points stated and it seems more obvious that you have more experience on bitcoin investment idea before even joining the forum.

Haven't said that, the colors been applied is not that good just like @joy-maker said, do well to use the rightful colour (black and white) on your next post or you can even get this one edited to add more value to it and for it to be more presentable and readable to other members.

[rachael9385]

If I missed anything important, please let me know.

You didn't really miss anything, but you forgot to include back up fund, because back fund too is also needed on the Long run, since the fund usually work hand in hand with emergency fund, and you can also use back up fund to buy the dips when ever they occur and hold for long term. And secondly why using colours to bold your words? why not just use black to make it look masure and presentable, because if you ask me this your thread is now looking childish, because of the Bolding style, and you may likely not get the attention you're looking for, so in that case I will suggest you change those bold words colour to black colour. And When I started this forum as newbie just like you I was doing things the appropriate way, so doing things the appropriate way and stop all this childish things.

It's very important to always have a backup plan, he didn't include this but it's very important and another thing that an investor should also consider to have is other source of investments or perhaps a job. A lot of people struggle to keep holding their bitcoin because they don't have a reliable income source, some struggle and somehow manage to save up money to start up their investment but they don't think about ways in which they can sustain themselves while they wait for their investment to start being productive.

[abaeze]

As a newbie, your writing maturity is a bit more organized and seems to be as experienced as the older members. However, you have discussed almost everything about emergency funds, discretionary income, hedge funds. Not only that, you have also discussed backup plans and diversification, that is, you need to have other income sources or jobs instead of relying on a single source of Bitcoin. In short, you have mentioned everything about investing fairly completely and thoroughly, leaving nothing for us. So, if you put into practice what has been said and what has been discussed here, it is possible to become a good investor.

[GIF-JOBS]

As a new for start a bitcoin investment, you have all kinds of mature ideas right now, and you can start investing in Bitcoin without any hesitation, you are absolutely right in your all think, and all your ideas are correct. I have read all the ideas you have shared, you are very suitable for investment, I hope you can do everything effectively and properly and maintain the investment effectively by adopting the right long-term strategy, because you already have all these ideas.

Good luck.

[Smartvirus]

As a newbie, your writing maturity is a bit more organized and seems to be as experienced as the older members. However, you have discussed almost everything about emergency funds, discretionary income, hedge funds. Not only that, you have also discussed backup plans and diversification, that is, you need to have other income sources or jobs instead of relying on a single source of Bitcoin. In short, you have mentioned everything about investing fairly completely and thoroughly, leaving nothing for us. So, if you put into practice what has been said and what has been discussed here, it is possible to become a good investor.

Just to highlight say, e no really get any particular way a newbie suppose Dey right for the forum, if you Dey good in writing normally or you Dey very educated for the life, to reflect that same level of organization and skilled writing here no go be of any difficulty.

Where e go worry small be say, the use of those forum buttons, codes and functions na watin Dey come with time. Watin I no really follow through with the OP na the plenty rainbow colour I Dey see there, felt a lot unnecessary.

Still, OP made some good points and nothing much to say in that, like you don tell am, make e practice watin e believe and e go go a long way with am.

[SatoPrincess]

Nice colors. I have been here longer than you have and can’t even use the forum bbcodes as nicely as you have. I would like to talk about your last point where you said “ do not connect your wallet to public Wi-Fi in any way”. I think what you meant to say is that we should keep our mobile devices that have our wallet offline and not to connect it to public WIFI.

[Ninja Primes]

As a newbie, your writing maturity is a bit more organized and seems to be as experienced as the older members. However, you have discussed almost everything about emergency funds, discretionary income, hedge funds. Not only that, you have also discussed backup plans and diversification, that is, you need to have other income sources or jobs instead of relying on a single source of Bitcoin. In short, you have mentioned everything about investing fairly completely and thoroughly, leaving nothing for us. So, if you put into practice what has been said and what has been discussed here, it is possible to become a good investor.

One should not compare one's knowledge according to the registration date of the forum account, is it reasonable to say that I have no idea about crypto currency, coding, writing maturity, etc., as a new member of the forum? I have only been on the forum for a few days, but I have been familiar with crypto for a few years, remember that everyone's knowledge level is not the same, some take a week to learn a topic, while others complete the same topic in a day. The main purpose of this explanation here was only that, one should not judge someone's knowledge according to their forum account registration date.


I understand that this colorful thing in my writings seems annoying to some, while others like it. Actually, I gave the color very enthusiastically, and it seems very good to me, so I am leaving it like this, to those who feel bad about it, please forgive me.

Ninja~ 

[Mummy OS]

Hey there, I am Ninja,  I have researched Bitcoin for a long time, I am creating this post to fully test my knowledge, I am sharing here an overall idea of ​​how many things to keep in mind and what is needed for Bitcoin investment, you can correct me if I am wrong here.

I am explaining the things step by step:

Fundamental Understanding: To hold an investment effectively, you must have basic knowledge, how Bitcoin works, what is its main point, what is its probability of success, what is its probability of loss, the investor should first acquire basic knowledge about all these things. and after you start investing, you can learn these things, Blockchain, mining, halving process should be understood, if an investor understands these, he will be able to understand the long-term potential of Bitcoin, so he can hold Bitcoin for the long term with more confidence.



Financial Planning and Allocation: To make an investment effective in the long term, the financial condition is of great importance, it is not easy to invest without a source of income, you must have a reliable and regular source of income. Suppose your monthly income is $500, you spend a total of $400 on all your expenses every month, and you have $100 left over. After deducting all the money for all these expenses and needs, the amount of money left over from your income that is unnecessary should only be used for investments. The necessary money should not be used for investments in any way. In this case, if you do not have any source of income, then you will not be able to maintain it for the long term unless you have a separate unnecessary amount of money for any investment.



Buying strategy: You have to be consistent in buying, if you invest for long-term purposes, you have to buy continuously and also accumulate Bitcoin at an average price, and the most correct strategy for this is DCA. If you wait to buy, you will miss the opportunity, Bitcoin does not fluctuate according to your expectations, so when buying, you have to set a specific time without worrying about the price and no matter what the price of Bitcoin is at the same time every week or every month, you have to buy Bitcoin with a certain amount of money. There is no need to be aggressive here, be consistent and long-term, then this will bring good results in the long run.



Market Analysis: It is very important to be careful about the fluctuations of the market when holding Bitcoin investment for the long term, basically you have to accept the fluctuations in the market, ignore the volatility, and keep Bitcoin for long-term purposes by maintaining a long-term mindset, the market will always fluctuate a lot but you should not panic about them and keep the investment long-term by maintaining a long-term mindset.



Investment Duration: Bitcoin is not a get rich quick scheme, generally to achieve significant success from Bitcoin investment, you must decide to hold the investment for the long term, here keeping a short-term mentality means trading, the Bitcoin market is very volatile in the short term but shows a stable growth trend in the long term, in this case we have to determine the time to hold the investment in conjunction with the Bitcoin halving process. Bitcoin halving occurs every 4 years, and after each halving there is a great chance for Bitcoin to touch new heights, as we have seen in the past. So if we can decide to hold our investment for 2 to 3 halvings, then our chances of success will be very high, and this has the potential to bring us success on a much larger scale.



Emergency fund: The importance of emergency fund is essential in Bitcoin investment, but unfortunately many new investors ignore this emergency fund in the first place, it is not possible to say when the unexpected time comes, any accident comes suddenly, bad situations in people's lives take a very terrible shape and it happens in every person's life, so in such situations money is needed a lot, that is why, if you do not have an emergency fund, then in such unexpected times you will have to sell any of your valuables, to manage that unexpected situation. And as such, if you invest in Bitcoin and without any emergency fund, then in an emergency situation you may have to depend on your Bitcoin investment in any way, so this will definitely lead you to loss, because if the market is down at that time, you will have to sell the investment despite the loss.



Trusted Bitcoin Wallet and Security: "Not your keys, not your coins." Do not keep coins on exchanges for long periods of time, beware of phishing and scams, keep your private key top secret and strictly to yourself, never tell anyone about your Bitcoin holdings, you can keep it as secret as possible, the more you and your Bitcoin will be safe. Always keep 2FA enabled on exchanges, do not connect your wallet to public Wi-Fi in any way, recovery phrases should be kept with caution and caution, it is best if two copies of the phrase are kept in separate places, because if you only keep one copy and it is somehow lost, your Bitcoin will be completely blocked. So you have to be careful in these cases and keep Bitcoin completely in a self-custody wallet, Self-Custody is a right. And overall, the safest way to hold Bitcoin is with a hardware wallet, keeping it physically safe by completely disconnecting it from the internet connection, and keeping the seed phrase as secure as possible.


If I missed anything important, please let me know.

Ninja~ 

This is a very well  articulated approach a lot of times people don't get to go through this kinds of informations before deciding what investment they should make. However having gone through your write up I believe this is a useful information as to where to how much investment should one go into. I will duely take my time to research about this topic and equip my self with the necessary to avoid making a financial mistake in the future

[Borbb]

At this certain point what really matters most is to know and make deep research concerning Bitcoin before you go into investment to avoid losses, moreover Bitcoin investments is very easy to join but difficult to understand and to master the how it works varies up and down,though you can start up in any certain amounts of your choice but you we need a helping hand that will lecture you more  about Bitcoin before you can engage yourself into any investments reason being that practice make perfect so before planning of taking any risks you will gets to know what you're chasing I mean you will need to know your target all about wether loss or gain.

But I think as a beginner you doesn't have to start up with a very huge amounts moreover is good to start from square 1 to square 2 this is to tell us that you can start up with the little money you have to start up to with your investments.

[Cgrexp]

Investing in Bitcoin is risky, but for those new to investing, it may be a good strategy to focus on Bitcoin and cash at first. At least for one or two market cycles. Those who have already invested in various assets can create a balance between Bitcoin and other assets according to their portfolio. Everyone's life circumstances and uncertainties are different, so you have to take responsibility for your own decisions. Many people deliberately allocate high assets to Bitcoin because they see it as the most promising asset. Although this is not guaranteed. The decision to invest in Bitcoin is not everything. It can be done step by step and according to your own beliefs.

[Pikiboy]

As a newbie you try in your post I must say, and all you have mentioned so far is a good point but most importantly since Bitcoin investment is a long term investment I think what every investors required either  need is patient which you didn't mention, you can have all the stated points you mentioned above but you have to input or include patient in your mental faculty befor you can make profits

[Different patterns]

If I missed anything important, please let me know.

You didn't really miss anything, but you forgot to include back up fund, because back fund too is also needed on the Long run, since the fund usually work hand in hand with emergency fund, and you can also use back up fund to buy the dips when ever they occur and hold for long term. And secondly why using colours to bold your words? why not just use black to make it look masure and presentable, because if you ask me this your thread is now looking childish, because of the Bolding style, and you may likely not get the attention you're looking for, so in that case I will suggest you change those bold words colour to black colour. And When I started this forum as newbie just like you I was doing things the appropriate way, so doing things the appropriate way and stop all this childish things.

It's very important to always have a backup plan, he didn't include this but it's very important and another thing that an investor should also consider to have is other source of investments or perhaps a job. A lot of people struggle to keep holding their bitcoin because they don't have a reliable income source, some struggle and somehow manage to save up money to start up their investment but they don't think about ways in which they can sustain themselves while they wait for their investment to start being productive.

You made a great point, as a long-term investment concern, backup funds when investing are very important. As an investor, you should have different sources of income that would help you focus on your long-term investment, because when you invest in bitcoin for the long term, as we already know, the price of bitcoin can change unexpectedly, the value can either go up or down in a short time. When this happens and you don't have extra money as backup to your investment, you might end up in financial trouble when the market drops. The backup funds act like a safety net to help you avoid selling your bitcoin when the price falls.

[Ever-young]

Market Analysis: It is very important to be careful about the fluctuations of the market when holding Bitcoin investment for the long term, basically you have to accept the fluctuations in the market, ignore the volatility, and keep Bitcoin for long-term purposes by maintaining a long-term mindset, the market will always fluctuate a lot but you should not panic about them and keep the investment long-term by maintaining a long-term mindset.

Seems you made quite a research.

First of all, why all the colors? Just curious.

Secondly, you’ve done well with your research and for bringing to our notice what most of us already know and may have discussed on the board more than a thousand and one times.

Anyways I’ll agree with your points, accept for the one I quoted above. First you say be careful of the market fluctuations, and then you later came back to say ignore the volatility which kinda sounds contradictory to me.
If you’re a long term investor, then short term volatility or fluctuations should be the least of your problems, meaning there’s nothing to actually be careful about. Best you just act like there’s no fluctuations at all.

[Callido]

As a newbie you try in your post I must say, and all you have mentioned so far is a good point but most importantly since Bitcoin investment is a long term investment I think what every investors required either  need is patient which you didn't mention, you can have all the stated points you mentioned above but you have to input or include patient in your mental faculty befor you can make profits

People make profit from bitcoin on a daily but they also lose sometimes, we have the traders who buy and sell at each change in the market, they make profits but not always, the reason for patience is that the longer you hold bitcoin the more your investment grows, and there is a particular dip price that won't be experienced in cycle and the next to come, those who bought at that price will love to be patient because their profits are multiplying fast enough.

[Tungbulu]

People make profit from bitcoin on a daily but they also lose sometimes, we have the traders who buy and sell at each change in the market, they make profits but not always, the reason for patience is that the longer you hold bitcoin the more your investment grows, and there is a particular dip price that won't be experienced in cycle and the next to come, those who bought at that price will love to be patient because their profits are multiplying fast enough.

Yeah HODLing is important, but it takes more than just that to ensure investment growth, it also requires consistent accumulation through a strategy that best fits your individual factors, and the most recommended strategy is the DCA. Within the short term, it doesn’t really seem like much as it may appear like those who are constantly trading the market or targeting potential DIPs are making more profits at the time being, but within the long term, this approach makes a lot of difference, which is why it comes highly recommended for those who are interested in investing in Bitcoin for the long term.

[SuperBitMan]

If I missed anything important, please let me know.

You didn't really miss anything, but you forgot to include back up fund, because back fund too is also needed on the Long run, since the fund usually work hand in hand with emergency fund, and you can also use back up fund to buy the dips when ever they occur and hold for long term. And secondly why using colours to bold your words? why not just use black to make it look mature and presentable, because if you ask me this your thread is now looking childish, because of the Bolding style, and you may likely not get the attention you're looking for, so in that case I will suggest you change those bold words colour to black colour. And When I started this forum as newbie just like you I was doing things the appropriate way, so doing things the appropriate way and stop all this childish things.

Joy- maker you no really sabi watin you dey talk oo, why you go say the OP no mention backup funds and say en suppose mention backup funds because backup funds dey come hand en hand with emergency funds, make I tell you something way you no understand, emergency funds na part of backup funds inside backup funds we get emergency, reserve and float funds all of them na backup funds and if you get emergency funds na backup funds way you get like that, the must important backup funds way investors suppose get self na emergency funds so since the OP done mention emergency funds en dey correct na you no dey correct because you no understand stand say emergency funds dey inside backup funds.

[PremiumcryptoHub]

As a new for start a bitcoin investment, you have all kinds of mature ideas right now, and you can start investing in Bitcoin without any hesitation, you are absolutely right in your all think, and all your ideas are correct. I have read all the ideas you have shared, you are very suitable for investment, I hope you can do everything effectively and properly and maintain the investment effectively by adopting the right long-term strategy, because you already have all these ideas.

As far as I know, he has all kinds of mature ideas to start investing in Bitcoin, all the investment steps he mentioned are instructive but he didn't think a backup fund was necessary, as a result, he did not include it in all of the ideas mentioned. Still, it seems like he may have done some research and become more knowledgeable than the basic knowledge needed to invest in Bitcoin as a result, investing in this digital gold may be an easier step for him. Besides, you also have to think about reliable income, furthermore, the need for consistent income that will steer everyone in the right lane and provide the appropriateness for purchasing Bitcoin in large or fractional amounts.