What to do to eliminate fear and starts investing in Bitcoin

[Cityhunter34]

For a very long time i have had about bitcoin,  how life transforming it has been to all investors but finds it difficult getting involved because I don't know where to start from and how to go about for possible results and this has stood as an obstacles depriving me access from getting same benefits others are getting from bitcoin.  I don't know if more about its working principles could be explained in detail for more clarity.

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

[Smack That Ace]

Which knowledge are you even talking about? Without an actual Involvement, it is always very difficult for folks to even gain meaningful knowledge  about Bitcoin... And so, the availability of your discretionary income is already a go ahead for folks to kickstart their accumulation journey and then figuring others as they go.. Bitcoin is a volatile asset and this volatility cannot be learnt by just reading articles, you need to experience it for you to truly understand what volatility means... But when you keep delaying yourself from starting, it becomes very difficult to learn...
Fyi, Experience is the best teacher...

You have a point. Experience matters, but I would not put it above knowledge. There is a lot to learn about Bitcoin before investing, from how the blockchain works, self custodial, private keys to risk management. None of that require paying for the lesson with your own money.

Indeed, you won't truly understand the volatility of Bitcoin unless you experience it yourself. But that does not mean you should jump in as soon as possible and figure things out later. Going into the market without enough knowledge usually makes those lessons far more expensive.

Experience is a great teacher, but it does not necessarily have to be the first one.

[coinrifft]

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

The thing is that it's very hard to make the right decision right away. Sometimes we really need to think about it and not rush to invest specially if we don't understand how everything works in Bitcoin. So it's understandable for most people not to rush things. But for the majority of us, yes in the beginning it's very hard what we have to go to that growing pains and then learn as we go along the way.

At least it's a learning experience for us and so we might encounters a lot of fears in the beginning. But for sure if we stay patience and be positive that our investment will grow, then that fears are going to subside.

[samadam007]

Which knowledge are you even talking about? Without an actual Involvement, it is always very difficult for folks to even gain meaningful knowledge  about Bitcoin... And so, the availability of your discretionary income is already a go ahead for folks to kickstart their accumulation journey and then figuring others as they go.. Bitcoin is a volatile asset and this volatility cannot be learnt by just reading articles, you need to experience it for you to truly understand what volatility means... But when you keep delaying yourself from starting, it becomes very difficult to learn...
Fyi, Experience is the best teacher...

There is a lot to learn about Bitcoin before investing, from how the blockchain works, self custodial, private keys to risk management. None of that require paying for the lesson with your own money.

Indeed, you won't truly understand the volatility of Bitcoin unless you experience it yourself. But that does not mean you should jump in as soon as possible and figure things out later. Going into the market without enough knowledge usually makes those lessons far more expensive.

Experience is a great teacher, but it does not necessarily have to be the first one.

Enough knowledge? lol be serious pls. Who or what decides when someone has gotten it? Hope you know experienced investors too still learning ? @Joeboy talked about using “discretionary income”, not life savings or borrowed money. He didn’t say people should ignore learning or buy BTC carelessly.
The point is that learning never really ends. Someone waiting until they think the know enough will keep delaying for years

Those things you mention are important, but are not reason to keep anyone from starting with an amount they can comfortably afford. You can read about volatility from morning till night, but won't know the feeling when your investment drop sharply or rise quickly until you experience by yourself. Knowledge and experience works together

[Mummy OS]

For a very long time i have had about bitcoin,  how life transforming it has been to all investors but finds it difficult getting involved because I don't know where to start from and how to go about for possible results and this has stood as an obstacles depriving me access from getting same benefits others are getting from bitcoin.  I don't know if more about its working principles could be explained in detail for more clarity.

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

Investing in Bitcoin is all about decision making and those that can not handle their decisions will have the courage to make investment without asking too many questions. There is nothing wrong with the price of Bitcoin and this must make us to make proper plans when investing in Bitcoin.

The price is not stable and the only thing we can do is to make sure you buy and hold taking your interest out of the market. Eliminating fear when investing in Bitcoin may not be easy for people that don't have enough money or income to continue to invest their money. Anything can arise when investing and fear is something we need to over to become a free investor.

[Rabata]

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

At least it's a learning experience for us and so we might encounters a lot of fears in the beginning. But for sure if we stay patience and be positive that our investment will grow, then that fears are going to subside.

Investing in Bitcoin used to be scary, but it is not as before. Early investors in Bitcoin were not as confident about it. Even though they invested, they were afraid. But current investors can invest with confidence because they know the Bitcoin cycle well. They have no doubts about the security of Bitcoin. Current investors are also well aware of the potential of Bitcoin. Since Bitcoin is a highly volatile currency, it is natural to have some fear about bitcoin. Fear acts as a force for those who try to hold it for the long term. Bitcoin has not yet received government approval in most parts of the world, but ordinary people have gained a lot of confidence in it. Although there are many fears that Bitcoin will disappear or its price will drop to zero, Bitcoin is now acting as a symbol of trust in the financial world among people.

[Tongley]

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

At least it's a learning experience for us and so we might encounters a lot of fears in the beginning. But for sure if we stay patience and be positive that our investment will grow, then that fears are going to subside.

Investing in Bitcoin used to be scary, but it is not as before. Early investors in Bitcoin were not as confident about it. Even though they invested, they were afraid. But current investors can invest with confidence because they know the Bitcoin cycle well. They have no doubts about the security of Bitcoin. Current investors are also well aware of the potential of Bitcoin. Since Bitcoin is a highly volatile currency, it is natural to have some fear about bitcoin. Fear acts as a force for those who try to hold it for the long term. Bitcoin has not yet received government approval in most parts of the world, but ordinary people have gained a lot of confidence in it. Although there are many fears that Bitcoin will disappear or its price will drop to zero, Bitcoin is now acting as a symbol of trust in the financial world among people.

To be honest, Bitcoin was never scary. Because about 80% of the people who knew about the Bitcoin network and understood the Bitcoin network at that time bought Bitcoin. But yes, at that time, the promotion of Bitcoin was not very strong and not everyone had much idea about the Bitcoin network, so at that time everyone was scared to buy Bitcoin. But among the people who were aware of the Bitcoin network, maybe no one was scared to buy Bitcoin.

At present, seeing the increase in the price of Bitcoin, many people are investing in Bitcoin and many people do not know about the Bitcoin network and invest because the price has increased in the past and the price of Bitcoin will increase in the future, but in the beginning, the matter was completely different, so those who were not aware of the Bitcoin network were scared to buy Bitcoin.

[ChocolateBitcoinK]

I believe the best way to eliminate fear is to do the right thing that investors has to do. The rules is some but can be very tricky as some persons may not maintain the same discipline from start of the investment to the end of the investment. Apparently the best way to eliminate fear is to avoid being in a position where one have to be afraid of what is to come.

Information is power so if you want to have power over your investment you have to stay informed and you can only do that through researching and staying up to date with the market. When you invest and stay out dated it becomes a problem because you can fear the directions the market is taking but when you know and understand how the cryptocurrency market works you won't be afraid if you see the price falling instead you are going to see that as a good buying opportunity and continue to accumulate some Bitcoin. Also your strength is in when you invest an amount you can hold comfortably hence that should also be something you should do to avoid being afraid of the market because when you can hold the amount invested and also have money for other upkeep then you can hold all through the storm and be among those that make a profit when the market is bullish again.

For long term investors, I don't see the need why they should be more bothered about the market trends. Even if long term investors wants to remain updated with the latest market trends, there attitude will be very quiet different from that of traders. Traders are more obsessed with market movement because the risk of losing money at a glance is there. Since they are after quick profit and they are trying to outsmart the market, there is need for them to stay update about market trends.

The goals, mindset and strategies of a long-term investor and a trader are completely different, a long-term investor's main goal is to hold a strong asset for years, but a short-term trader only wants to take advantage of market fluctuations to profit, so in this case it is very clear that trading and investing are two completely different things. So when you want to be an investor and think about investing in Bitcoin for the long term, then you should not worry about the market fluctuations at the time of purchase, you cannot think like a trader in any way during volatility, rather you have to continue your continuous purchase in any market situation. There is no reason to be overly concerned about daily price fluctuations or short-term volatility. If your long-term goals are clear, unnecessary worries disappear by themselves, you just have to be aware of the real meaning of long-term investment.

[JayJuanGee]

Which knowledge are you even talking about? Without an actual Involvement, it is always very difficult for folks to even gain meaningful knowledge  about Bitcoin... And so, the availability of your discretionary income is already a go ahead for folks to kickstart their accumulation journey and then figuring others as they go.. Bitcoin is a volatile asset and this volatility cannot be learnt by just reading articles, you need to experience it for you to truly understand what volatility means... But when you keep delaying yourself from starting, it becomes very difficult to learn...
Fyi, Experience is the best teacher...

You have a point. Experience matters, but I would not put it above knowledge. There is a lot to learn about Bitcoin before investing, from how the blockchain works, self custodial, private keys to risk management. None of that require paying for the lesson with your own money.

Part of the reason that guys adjust their position size down to "an amount that they can afford to lose" is so that they do not worry about the money, and even moreso during the earliest times of learning.

Indeed, you won't truly understand the volatility of Bitcoin unless you experience it yourself. But that does not mean you should jump in as soon as possible and figure things out later. Going into the market without enough knowledge usually makes those lessons far more expensive.

Getting through a whole cycle should help to understand volatility in a better and more personalized way.. .yet maybe by the time a bitcoin newbie gets through a whole cycle, he has spent 4 years accumulating bitcoin without worrying about the price. and maybe he had also spent 4 years strengthening his cashflow management skills (and presumptively back up funds too).  Yet  where would getting through 4-years of bitcoin leave him?  Perhaps he would have an average cost per BTC that is somewhere in the ballpark of the 200-WMA, no?  His average cost per BTC will in part depend on how consistent he would have had been in buying bitcoin for the prior 4-ish years.

Experience is a great teacher, but it does not necessarily have to be the first one.

Are you presuming that a newbie is coming to bitcoin without any existing experience and/or knowledge?  Are you presuming him to be dumb?  That is patronizing to proclaim that he needs to learn before he starts buying bitcoin. You think that he needs to learn:

how the blockchain works,

self custodial,

private keys

risk management

Why can't the beginner bitcoiner learn these things as he goes and just adjust his position size as he is learning?  What is it that he needs to learn, exactly, in relation to these topics and in advance as you are proclaiming to be necessary?

[Decimetre]

Which knowledge are you even talking about? Without an actual Involvement, it is always very difficult for folks to even gain meaningful knowledge  about Bitcoin... And so, the availability of your discretionary income is already a go ahead for folks to kickstart their accumulation journey and then figuring others as they go.. Bitcoin is a volatile asset and this volatility cannot be learnt by just reading articles, you need to experience it for you to truly understand what volatility means... But when you keep delaying yourself from starting, it becomes very difficult to learn...
Fyi, Experience is the best teacher...

You have a point. Experience matters, but I would not put it above knowledge. There is a lot to learn about Bitcoin before investing, from how the blockchain works, self custodial, private keys to risk management. None of that require paying for the lesson with your own money.

Part of the reason that guys adjust their position size down to "an amount that they can afford to lose" is so that they do not worry about the money, and even moreso during the earliest times of learning.

Indeed, you won't truly understand the volatility of Bitcoin unless you experience it yourself. But that does not mean you should jump in as soon as possible and figure things out later. Going into the market without enough knowledge usually makes those lessons far more expensive.

Getting through a whole cycle should help to understand volatility in a better and more personalized way.. .yet maybe by the time a bitcoin newbie gets through a whole cycle, he has spent 4 years accumulating bitcoin without worrying about the price. and maybe he had also spent 4 years strengthening his cashflow management skills (and presumptively back up funds too).  Yet  where would getting through 4-years of bitcoin leave him?  Perhaps he would have an average cost per BTC that is somewhere in the ballpark of the 200-WMA, no?  His average cost per BTC will in part depend on how consistent he would have had been in buying bitcoin for the prior 4-ish years.

Experience is a great teacher, but it does not necessarily have to be the first one.

Are you presuming that a newbie is coming to bitcoin without any existing experience and/or knowledge?  Are you presuming him to be dumb?  That is patronizing to proclaim that he needs to learn before he starts buying bitcoin. You think that he needs to learn:

how the blockchain works,

self custodial,

private keys

risk management

Why can't the beginner bitcoiner learn these things as he goes and just adjust his position size as he is learning?  What is it that he needs to learn, exactly, in relation to these topics and in advance as you are proclaiming to be necessary?

Yes, The rate at which a person consistently buys his bitcoin shows how successful he will be in the bitcoin investment and goes a long way to also determine the amount of profit he will have at the end based on the cost per Bitcoin by the end of the day. This is why it is not good to waste more time as long as you already have your discretionary income to invest because the more you waste time, the more you waste your opportunities to perhaps, have less cost per Bitcoin. Let's say that you continue wasting your time continuously where you think that you are learning more about bitcoin, the things you can also learn during the process of buying, the person could miss important buying opportunities and then end up getting discouraged and may even never buy bitcoin again.

The things that @Smack that ass mentioned as "enough knowledge" as things a person can be learning in the process along with his investment. What a beginner needs is his discretionary income and he is good to go instead of waste his life learning volatility and Blockchain because he will not finish learning such.

Risk management can only be learned in the process of investing in bitcoin, no matter how long you learn risk management, only the experience you have when you have already started investing in bitcoin can teach you the real knowledge you need to have.

[Charcol]

For a very long time i have had about bitcoin,  how life transforming it has been to all investors but finds it difficult getting involved because I don't know where to start from and how to go about for possible results and this has stood as an obstacles depriving me access from getting same benefits others are getting from bitcoin.  I don't know if more about its working principles could be explained in detail for more clarity.

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

Not only courage, but also our cashflow, position, size, risk tolerance and practical process should be considered. Just bringing courage will not make all the fear go away, the matter may be something else than that. Because all fear does not come from the same source.

For example, someone may be afraid of the price of Bitcoin falling. Another may be wondering what to do if you need money in an emergency. Again, many are confused about exchanges or wallets. If you just tell these three not to be afraid, will their real problem be solved?

Therefore, that person needs to understand how much real discretionary income he has after his necessary expenses. He should start with such a small amount from that money that even if the market goes down, his sleep, food or his family responsibilities will not be affected. Then if he does not know about wallets, then start with exchanges and continue learning.

[EarnOnVictor]

For a very long time i have had about bitcoin,  how life transforming it has been to all investors but finds it difficult getting involved because I don't know where to start from and how to go about for possible results and this has stood as an obstacles depriving me access from getting same benefits others are getting from bitcoin.  I don't know if more about its working principles could be explained in detail for more clarity.

I'm happy to see your post today, and for the fact that those replies I read are not so satisfactory to me, I had to post my input as simple as it could.

1. Drop everything here right now, especially the reading of endless replies, and start searching for anything you could find about Bitcoin online, instead of random replies. I am sure you would stumble upon many good resources that will make you get loaded with the understanding. You can use Gemini or ChatGPT to fetch you the right links and articles as well.

2. Ensure you prioritise the Bitcoin's tradition of the 4-cycle in planning your investment. This is important if you want to make more. Good luck!

[sotelorene]

Well, I think you have to make up your mind and start from somewhere, because Bitcoin investment is all about decisions. Sometimes we need to understand that the spirit of fear can easily stop us from getting the best result, and that's not advisable at all. It's not that someone wouldn't be scared, but sometimes you need to be ready for face any outcome without regrets, because Bitcoin investment is not something that we should be scared to invest in. So don't let fear lead the way. Just plan yourself very well and you wouldn't regret it.

At least it's a learning experience for us and so we might encounters a lot of fears in the beginning. But for sure if we stay patience and be positive that our investment will grow, then that fears are going to subside.

Investing in Bitcoin used to be scary, but it is not as before. Early investors in Bitcoin were not as confident about it. Even though they invested, they were afraid. But current investors can invest with confidence because they know the Bitcoin cycle well. They have no doubts about the security of Bitcoin. Current investors are also well aware of the potential of Bitcoin. Since Bitcoin is a highly volatile currency, it is natural to have some fear about bitcoin. Fear acts as a force for those who try to hold it for the long term. Bitcoin has not yet received government approval in most parts of the world, but ordinary people have gained a lot of confidence in it. Although there are many fears that Bitcoin will disappear or its price will drop to zero, Bitcoin is now acting as a symbol of trust in the financial world among people.

The reason they were not as confident as before was due to the fact that bitcoin just came out then and so they do not know what will become of it and i believe some was even thinking it was like these shitcoins we are seeing today that once they dump they will not have the potential to surge again and i do not blame them because no body want to lose money though some people took the risk. but today we have seen how great and valuable it is so anyone who is thinking it twice or  having a double thought about bitcoin does not really know what bitcoin is.