First step required for a beginner in bitcoin investment

[RealNoblee]

If the only reason why you want to invest in bitcoin is because of the success stories which you have been reading about it, I would say you should either change your mind or be prepared to get disappointed.

My point here is that, one might not always depend solely on what they hear about Bitcoin investment.
But I strongly believe that other people's success story on Bitcoin investment serves as a motivating factor for many who might afraid of investing and also a proof that Bitcoin really works.

Most importantly, it's not just being moved by the success stories but taking adequate positive steps to understanding the workings of Bitcoin investment and how best to approach it.

[OcTradism]

My point here is that, one might not always depend solely on what they hear about Bitcoin investment.
But I strongly believe that other people's success story on Bitcoin investment serves as a motivating factor for many who might afraid of investing and also a proof that Bitcoin really works.

Most importantly, it's not just being moved by the success stories but taking adequate positive steps to understanding the workings of Bitcoin investment and how best to approach it.

Learning from successful investment stories is good but pay more attention on financial management, risk and capital management from people who succeeded with their Bitcoin investments, so you can learn well about such stories.

Because people have many different foundations, finance so they have to use very different management for their finance, capital and risk. Success only comes with investors who can manage these things well enough.

Don't try to learn from investors who took too high risk, because they succeeded with luck while if you apply the same risky strategy, you might have loss. Like don't try to leverage too much as same as Saylor and Strategies.

[Loyang]

First of all, not everything on social media is trustworthy or they always tell everything about trading. So don't believe everything on social media, just learn about some things and gather information from reliable sources. We don't need to have a lot of knowledge or a lot of income to start investing. If you have basic knowledge about Bitcoin and if you have a source of discretionary income, then you can start investing.

After starting investing, you can gain knowledge about what measures to take to protect your holdings. But one thing is most important is to start investing. Start investing with basic knowledge and a source of discretionary income and then gain knowledge.

[Adams0001]

OP, the first step that I would advise you is to take your time to do your own research on Bitcoin to know if it is convenient for you to invest in. I believe you know that before one puts their money into a business, they carry out their due diligence before they proceed same thing should be applicable to bitcoin to know if you can be able to be patient with the process.

And lastly, you should prepare your mind because Bitcoin is not a get-rich-quick scheme, as the market is highly risky and volatile, and anything could happen in between at any time.

That is just the point, making your own research will definitely help you most by telling you to invest, if you make your personal research about bitcoin that will definitely help you alot when starting your journey. And again you need to have alot of patience if you want to invest in bitcoin to get profit and is not something you will just invest now and think you will be profitable in a short term. Bitcoin investment is for long term and if you can't take risk you shouldn't start investing in bitcoin because is volatile, but is always minimize risk then trading. You just need to have source of income before you start your journey in bitcoin.

[MusaPk]

Learning from successful investment stories is good but pay more attention on financial management, risk and capital management from people who succeeded with their Bitcoin investments, so you can learn well about such stories.

Because people have many different foundations, finance so they have to use very different management for their finance, capital and risk. Success only comes with investors who can manage these things well enough.

Don't try to learn from investors who took too high risk, because they succeeded with luck while if you apply the same risky strategy, you might have loss. Like don't try to leverage too much as same as Saylor and Strategies.

In short, if you are stepping into crypto investment then start slowly. First learn basic of crypto investment and decide how to start crypto investment. We can get guidance from investors who are well set at the moment but don't do mistake of investing the money they are investing now. Crypto investment is not very difficult but still we need to understand the risk of this market otherwise we will loss our money. Saylor is good example but he is still in loss despite investing in Bitcoin for almost 5 years.  

[Razmirraz]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

It's natural to feel confused and afraid when you first want to invest in Bitcoin, especially considering its extreme price movements. Don't be easily tempted by other people's profits, that's only limited to the profit side that you see on social media, you also need to know that quite a few people also lose because they don't understand the risks when starting to invest. It should be underlined that investing in Bitcoin is not a get-rich-quick scheme because no type of investment is without risk.

So, it is very necessary to DYOR before starting, understanding risk management and confidence in the technology. Don't be tempted by instant hype, investing in Bitcoin is like a marathon, not a sprint. Consistency is more important than large initial capital. This is why it's highly recommended for beginners to start small and avoid panicking when the price drops. It's important to understand that volatility can impact the value of your investment.

[cxtreenal]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

Fluctuations in value are a common feature of every investment, not just Bitcoin investments. Bitcoin is a relatively volatile digital asset. You need to decide how you want to get Bitcoin. You can either buy a lump sum Bitcoin or accumulate Bitcoin every week in line with your income.

Investing in Bitcoin may seem easy to you at first, but it may not be easy for you to accumulate Bitcoin long term or it may be difficult to maintain Bitcoin holdings long term by making lump sum. Always have a financial plan for holding Bitcoin for the long term. Dollar cost averaging or DCA is the best strategy for planning your Bitcoin accumulation every week or every month. To maintain this investment strategy in the long term, you need discretionary funds, an emergency fund and cash flow.

DCA is a good investment strategy for Bitcoin and it is easy for you to start because it doesn't require much skill or capital. All you need is discretionary funds, an emergency fund and cash flow to sustain this investment strategy in the long term.

[Rgram]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

So, I’m going to work through your OP to give you a sense of direction.
- Your mind is made up: This simply implies that you’ve identified Bitcoin to be an investment of value and you would like to invest which is a good thing.

- You don’t know where to start: This simply implies that, you don’t have knowledge about Bitcoin and that’s practically the first thing you should do. Find out things like,
What is Bitcoin?
What is a wallet?
What’s an exchange?
How does the Bitcoin market operates?
Where can I store or save my Bitcoin?
Security measures for Bitcoin/wallet safety?
What is a seed phrase or private key?

You need to ask and answer these questions and lots more, it would set you on a path of knowing.

- Signs and Signals moving up and down: You are looking at the Bitcoin chart, the candle sticks movement and don’t know what’s going on. Well, that’s basically what traders use to understand what is going on with the Bitcoin market. I wouldn’t advice you start trading just yet but, learn about Bitcoin and in time, you can study trading.

[puloweh555]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

Just like anything else if you want to start something new the first thing you have to do is learn. Learn and understand the basics of Bitcoin first. Don't buy immediately before understanding what Bitcoin is. Basics like strategies that are suitable for your funds but DCA is suitable for beginners. Furthermore, in Bitcoin the halving every four years can be a basis for setting goals and most importantly learning about wallet security. Wallet security seems simple and many beginners underestimate it. They are immediately motivated by chasing profits when they should first understand the basics of Bitcoin.

It's okay to be motivated by seeing the success of others, but don't focus on their success. You need to understand that before they succeeded they implemented the initial steps to start investing in Bitcoin, prioritizing learning the basics and learning how to secure assets. Security is crucial because in the world of Bitcoin, you can lose access, be scammed, phished, transfer funds incorrectly and so on. If you're not careful your assets could be lost forever. You must read all the answers that have been answered by friends in this discussion because there are many steps that have been shared for beginners you just have to take the one that suits you.

[Chinesebaby]

You need to ask and answer these questions and lots more, it would set you on a path of knowing.

- Signs and Signals moving up and down: You are looking at the Bitcoin chart, the candle sticks movement and don’t know what’s going on. Well, that’s basically what traders use to understand what is going on with the Bitcoin market. I wouldn’t advice you start trading just yet but, learn about Bitcoin and in time, you can study trading.

You equally have a good point stated above regarding what O.P needs to do as he plans on investing in Bitcoin, but just as you clearly stated about trading above, I would have love to say that as a beginner, trading of his/her Bitcoin is actually not necessary, since no matter how you intend to trade, you can never make much profit as compared to someone who holds long term, probably 10years to 20years. And for that reason, I would have love only O.P can prioritize accumulating his Bitcoin while using the Dollar Cost Averaging method, it's literally the best approach for beginners.

[Fiasem20]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

There’s nothing to be confused about.You can start by buying your bitcoin in a centralized p2p platform and hold them with a top security measure otherwise your efforts would go in vain overnight.First thing first,I would advise you to carryout your own research,know the basic knowledge of bitcoin and also the pros and cons of the crypto space.Or are you finding it difficult to start because of the high rate of crypto hacks or you don’t have someone to mentor you?What exactly is the challenge you’re facing towards your early journey as an aspiring bitcoin enthusiast?

[uchegod-21]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

Seeing signs and signals everywhere? Mate, don’t start what you know nothing about. Now that you are here in this forum, exercise a little patience. Use the little time you have to join and search relevant discussions in this forum and do research outside this forum too, so you will know the most effective way to earn bitcoins that will be very convenient for you. Everyone who is into bitcoins is not a trader; some just buy and hodl. Do not be in a hurry to start earning, learning should come first. If not for anything else, it is for you to learn ways to secure your bitcoins, as scammers and criminals may begin to target you once they know you own some bitcoins.

[laijsica]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

If you search online for best Bitcoin investment plans, one best strategy that will come across your eyes is Dollar Cost Averaging or DCAing. Learn about this method of Bitcoin accumulation and jump into a long term plan with discretionary income.
Risk is a must in every investing and you should adopt a risk tolerant strategy. In fact  the best strategy for you to increase Bitcoin accumulation while increasing your cash flow level is Dollar Cost Averaging or DCAing.

[Daniel91]

There is one more thing I would suggest.
If after all this advice you are still not sure how to start investing in bitcoin or crypto, or this is too much information for you to handle, then there is no shame in contacting an expert who can help you.
You can ask local brokers, officially registered for their activity, whether they offer crypto investments in their investment funds for clients.
If so, they usually have a whole team of experts who analyze the crypto market and who also diversify their investments to reduce risk for investors.
You can start with them, and slowly learn how crypto works, before deciding to embark on such an investment on your own.
Brokers in my region, almost all of them, already have numerous offers for their clients who want to invest in bitcoin or crypto.

[Dex_master25]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

Seeing signs and signals everywhere? Mate, don’t start what you know nothing about. Now that you are here in this forum, exercise a little patience. Use the little time you have to join and search relevant discussions in this forum and do research outside this forum too, so you will know the most effective way to earn bitcoins that will be very convenient for you. Everyone who is into bitcoins is not a trader; some just buy and hodl. Do not be in a hurry to start earning, learning should come first. If not for anything else, it is for you to learn ways to secure your bitcoins, as scammers and criminals may begin to target you once they know you own some bitcoins.

I don't really bother about scams and hacks for now because in general I don't have enough Bitcoin or cryptocurrency to even be bothered about that, but what bothers me most is how the basics of Bitcoin investment can be learned effectively without exposure of oneself to a physical mentor or online data base that is more designed these days to collect data.
The basics is important and can be learned here, putting it into practice is another thing because one has to have a source of income that won't be stopped Incase a wallet key is lost or misplaced.

[Finestream]

You don't get people to decide on you, but you get to decide on your own until you are ready to invest mentally, emotionally and financially. Of course, if you ask people about it, majority will say as long as you know enough of bitcoin and sufficient funds are ready, then invest now while bitcoin is still cheap and affordable.

But in real life, investing in bitcoin is more risky and even dangerous especially if you invest blindly, and you invest because the people around you are already investing and in fact enjoying the profits that bitcoin offers. There are peer pressures all around, and social media is also making hypes and fuds, that's why you decide to invest and eventually fall on their trap.

The will to take the risk and invest should always be the first factor to consider. Now if you have that, surely you will do thing to prepare yourself so that bitcoin investment will not end up a waste of time, money and efforts.

[Peanutswar]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts, I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

This is how social media deceiving is. The reason behind the newbies making an investment in crypto without proper knowledge or even a basic understanding of what they are doing, which is I do not recommend. These post in the social media are just flexs by other people and its not an overnight to learn tooks a lot of days, or months of hardwork and failures before they found out their the best strategy that is suitable with them now some content creator sharing their strategy and build their community is to help them but not all of them are into it sometimes they are used in a market manipulation such as supporting of a coin for a pump an dump. Now if you want to engage with Bitcoin ideally its good to understand its purpose. Now, if you think its beneficial to you, you can deep dive into it, but if not, and not appreciate the use of the bitcoin and focus only on the money, it's probably hard for you to understand how to earn in bitcoin. I do recommend analyzing the market, such as with the Technical analysis and market structure, even the patterns and indicators so you can invest not only with Bitcoin but also with alts or whatever you see in the market. Get knowledge and learn from your own so you dont rely with other people or even in groups.

[DYOR+BTC]

First of all, not everything on social media is trustworthy or they always tell everything about trading. So don't believe everything on social media, just learn about some things and gather information from reliable sources. We don't need to have a lot of knowledge or a lot of income to start investing. If you have basic knowledge about Bitcoin and if you have a source of discretionary income, then you can start investing.

After starting investing, you can gain knowledge about what measures to take to protect your holdings. But one thing is most important is to start investing. Start investing with basic knowledge and a source of discretionary income and then gain knowledge.

You are completely correct,  the social media world i know is a fabrication center where all kind of knowledge can be restructured or designed to convince one that the information sent there is correct but deep down most are fabricated stories that has know truth in it. One interested in acquiring bitcoin knowledge should not be mislead by the informations published on the social media because majority of those informations are fake and can destroy once life.

[Patikno]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

You must prepare yourself mentally, namely by understanding the fluctuations that occur in Bitcoin prices. Therefore, you won't immediately sell the Bitcoin you have purchased (when the price drops), as that will actually result in losses. You must prepare your finances carefully, namely by using money that you can truly save for the long term. You must understand, that "Bitcoin is not an investment, that will make you rich overnight", a misconception many people have (due to a lack of understanding of Bitcoin fundamentals).

Essentially, you must learn everything you plan to do, and consider each step carefully to avoid making mistakes. Additionally, I want to tell you, that "No one loses money holding Bitcoin in long-term", I have never heard of it. Therefore, try to be wise in your decision-making, and consider the advice expressed by several forum members here. If necessary, you can ask further about what you don't understand, so that it will open up anyone insight.

[Sonia_123]

Still confused till now now how to start making quality investment in bitcoin, going through my social media accounts I see many rejoicing on the benefits gotten from bitcoin and my mind is already made up to get started but finds it difficult starting because I don't know where to start from, all I can see i signs and signals moving up and down.

Listen to only yourself and not anyone else.
Use your discretionary income to invest and not any other money, invest with what you can afford to lose, make alot of research and reading about bitcoin investment so that you will not have to go astray on your journey of investment, ask questions where you seems confused here in this forum for proper guidance and direction.  Invest for a long term not a short term.