New to Bitcoin, is this a good way to start?

[Mr_Brilliant$]

I would say focus on the knowledge first before anything.. I’m not saying you should wait forever or anything, but even with a bit of understanding, it will go a long way…. If you’re able to get how Bitcoin works, why it moves the way it does, and what people mean by cycles, then you can flow with Bitcoin, and it won’t shake you..

You can even do both lowkey… learn first, then maybe start with very small amounts while you’re still learning..

[fuguebtc]

As a beginner, once you’ve embarked on your Bitcoin investment, you should also know that getting yourself informed about the happening around the market is important because it helps you stay alerted of any possible threats on your portfolio, so don’t joke on that even as you’ve embarked on your investment journey.

In addition to security update and government regulation. I think if we decide to invest long term and apply a weekly/monthly DCA strategy, checking daily market news is not really necessary. Especially for newbies lacking experience, this can create negative emotion, Fomo...

In my opinion, beginner should focus on improving their knowledge and accumulating Bitcoin according to a planned strategy. Do not chase the news every day trying to find out what is causing Bitcoin volatility.

[Dave1]

I would say focus on the knowledge first before anything.. I’m not saying you should wait forever or anything, but even with a bit of understanding, it will go a long way…. If you’re able to get how Bitcoin works, why it moves the way it does, and what people mean by cycles, then you can flow with Bitcoin, and it won’t shake you..

You can even do both lowkey… learn first, then maybe start with very small amounts while you’re still learning..

Knowledge will come later, it's not that you are going to educate yourself in the beginning here. Sure you can read all information like doing DCA and holding for the longest term. But if you don't experience and execute it, it's just knowledge. So I will really suggest is to go out and buy Bitcoin, used a wallet that you can total control of your funds, having the seed phrase and private key.

And then used DCA method, invest weekly and invest what you can afford. Don't invest too much that you put all your money in it. Then later you will have to withdraw because you lack funds for your monthly bills. Be sure that you invest discretionary funds, money that is not needed for anything after all the bills and loans have been paid and let's say you have $50.00 every week then that is enough and of course, go for at least one cycle hold.

[dezoel]

I would guess that it would not be ideal right now because it feels like it's a bit up to me. I might be wrong and it could go up from here so it would be something you regret if you do not buy right now and I am wrong.

But I could also be right, none of us know this and we are all making predictions and that is why it doesn't feel that great at the moment. We should be considering how this could be something that would be all that complicated, we need to arrange something that would make it al ot better for all of us on the long run as well.

[tbterryboy]

Also, what was the biggest mistake you made when you first got into Bitcoin?

Regardless of which strategy you choose, whether you buy while learning or thoroughly research everything before you start investing. You need to understand that every strategy has its own advantages and disadvantage, and making mistake in the investment journey is inevitable.

Therefore, all you need to do is choose the strategy or method that you think suits you best and persevere in pursuing it. Do not let other people's opinions influence your decisions and choices. Furthermore, as I said, mistake are inevitable, so do not get discouraged or give up just because you make a few mistake.

Yes, he know the fact already and that is why he also mentioned the word mistake there. But he is also asking there about the first mistake we did when we are still starting. It seems that you forgot to answer it. So for me to not forget it too, I can go on this one first. My first mistake is to not take it seriously because I think it was another time waster. I regret it after coming back after some time because I stumbled upon it again after looking for ways to earn money online.

Now, among the strategies you gave there, it should still be the second is the ones that is recommended regardless of what is said here about inevitable mistakes. But for sure, a lot are still going to go for the first one because it is already in our nature to be impatient and then we always want the easy stuff. You can't go wrong with studying though. So even you do it in advance, you may still do it or it is still a must to do in later stages.

[Mr_Brilliant$]

I would say focus on the knowledge first before anything.. I’m not saying you should wait forever or anything, but even with a bit of understanding, it will go a long way…. If you’re able to get how Bitcoin works, why it moves the way it does, and what people mean by cycles, then you can flow with Bitcoin, and it won’t shake you..

You can even do both lowkey… learn first, then maybe start with very small amounts while you’re still learning..

Knowledge will come later, it's not that you are going to educate yourself in the beginning here. Sure you can read all information like doing DCA and holding for the longest term. But if you don't experience and execute it, it's just knowledge. So I will really suggest is to go out and buy Bitcoin, used a wallet that you can total control of your funds, having the seed phrase and private key.

And then used DCA method, invest weekly and invest what you can afford. Don't invest too much that you put all your money in it. Then later you will have to withdraw because you lack funds for your monthly bills. Be sure that you invest discretionary funds, money that is not needed for anything after all the bills and loans have been paid and let's say you have $50.00 every week then that is enough and of course, go for at least one cycle hold.

If a newbie doesn’t have a basic knowledge about Bitcoin, then how do you expect him or her to go ahead and start buying Bitcoin?
Me mentioning that he should go for the knowledge first doesn’t mean he should spend all his time learning the in-depth of Bitcoin.. But at least the basic idea and knowledge of bitcoin is very needed to even start..

Then when he starts investing, he could then decide to keep learning other things about Bitcoin.

[skarais]

It's never too late, you can start. If you consider Bitcoin as an investment instrument, you can start anytime. Bitcoin is one of the best by far, and everyone will probably admit it. If you are planning to invest, then don't ignore bitcoin as one of the assets in your portfolio and it will give you worth it returns in the long term. But remember, this is not financial advice and you should still have the best plan to build your portfolio wisely.

[Sonia_123]

You are on the right tract, don't panic, just start investing with whatever you have without wasting your time because the market will not wait for you, you already have the knowledge and what it takes to start investing, invest with your discretionary little by little and grow from small to big that is the best approach you can begin with and then also continue to acquire more knowledge .

[JaanusRaim]

What a great idea with terrible implementation - just extrapolating past (the angle of the fundamental price rise curve) into the future instead of using real data about the Bitcoin acceptance.

Do you really think that "Bitcoin is dead" is the dominant narrative now ? 

[jcojci]

You did the right thing @OP by investing the amount you can afford, that is the thing new or beginners should do if they want to invest in Bitcoin. While they learning, they also practicing to invest in Bitcoin so they know the process and learn more things related to Bitcoin.

That is a smart way to begin but not many people realize that way helps them to manage their allocation money to invest in Bitcoin. Beginners should learn first before start so they know what they should do and don't and knowing how to manage the risk as this will always comes.

[m2017]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin,

All of the above sounds like you're not a newbie at all. Beginners typically have the same idea: "buy quickly to earn more, completely disregarding the consequences". Either you're not a newbie, but an alt of an already experienced user here, or you're diligent enough to spend some time reading the discussions here, which, in fact, have shaped this sensible investing approach. Would you admit it's the former?

or do you guys think a beginner should learn more first before buying any BTC at all.

It seems to me that you already know enough and I believe that you should start investing in bitcoin from the moment you learn about this asset (after first familiarizing yourself with the technical and financial aspects).

Also, what was the biggest mistake you made when you first got into Bitcoin?

My biggest mistake? I put off investing for years, knowing about bitcoin, but not researching it in depth, which led me to delay buying because I didn't understand the opportunities it offered. And every time bitcoin caught my eye, I thought it was too late to invest.

[programmer3666]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Buying small amounts over time and only using money you can afford to leave is one of the safest approaches, especially as a beginner. It helps you avoid stress from price swings and removes the pressure of trying to time the market. A clear example will be, instead of waiting for the perfect moment which is almost impossible, you just keep buying a little regularly. Over time, it balances out your entry price and you learn as you go. Some beginners make the mistake of rushing in with big money because of all the hypes, then panic when the price drops in a dramatic way. your approach kind of avoids that completely.

[Marvelockg]

. .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

It's not a bad investment idea one should start with as a beginner but however, there's how you position your mentality that instead of growing, you start to experience an high level of limitation.

Having a proper understanding of what you means by investing what you can afford to loose is the first step that  helps you invest and do so the right way. For bitcoin, it's better to invest an amount that will not disturb your daily expenses which is termed your descretionary income. Focus on investing that percentage of your income and that way, you're at least certain that it won't be too deficult staying invested for the long term regardless what happens during your investment season.

In addition, there are prices one will neccesarily pay and every investor has to be ready to pay that ultimate price.

[SatsPH]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Buying small amounts over time and only using money you can afford to leave is one of the safest approaches, especially as a beginner. It helps you avoid stress from price swings and removes the pressure of trying to time the market. A clear example will be, instead of waiting for the perfect moment which is almost impossible, you just keep buying a little regularly. Over time, it balances out your entry price and you learn as you go. Some beginners make the mistake of rushing in with big money because of all the hypes, then panic when the price drops in a dramatic way. your approach kind of avoids that completely.

That is DCA, that is the first thing that I learn when I started way back. I just buy every week with the extra money, money that I can afford to lose. Although my mistake that time is keeping it in an exchange.

Nevertheless, its a good learning experience as a newbie back then. So I still continue with that kind of method, just hard grinding every week and ever year but it's worth it. Sort of delayed gratification.

[dansus021]

That called DCA or dollar cost averaging and that is the smartest way to do invest, especially in highly volatile assets like Bitcoin.

- Learn first before made any investment on any instrument
- Start small until you comfortable
- DCA when you at floating loss do AVG down is the best
- Safe your asset using hardware wallet

- welcome to crypto haha

[gracreavix]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Buying small amounts over time and only using money you can afford to leave is one of the safest approaches, especially as a beginner. It helps you avoid stress from price swings and removes the pressure of trying to time the market. A clear example will be, instead of waiting for the perfect moment which is almost impossible, you just keep buying a little regularly. Over time, it balances out your entry price and you learn as you go. Some beginners make the mistake of rushing in with big money because of all the hypes, then panic when the price drops in a dramatic way. your approach kind of avoids that completely.

Another reason why DCA is kinda the safest is discipline. like it helps you to stay consistent without overthinking everything. you’re not checking charts every second, you just stick to your plan and move.
Plus it helps with emotions too. because let’s be honest, a lot of beginners don’t lose because they don’t know, they lose because they panic or get greedy. And what DCA does is, it just removes that whole drama.

[Y3shot]

do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

It is a good one to start investing in bitcoin but before you start it will be of good advantage for your to learn first than to start with no knowledge.  The reason why bitcoin investment is very important as a beginners every beginner has a different concept about bitcoin that may not be true but these concepts is as a result of how the perceives bitcoin, so a beginner who is just starting bitcoin  and starting with learning first is building a strong foundation which will be pf good benefit to help and to yield better result. 

[liasbaa]

I would say focus on the knowledge first before anything.. I’m not saying you should wait forever or anything, but even with a bit of understanding, it will go a long way…. If you’re able to get how Bitcoin works, why it moves the way it does, and what people mean by cycles, then you can flow with Bitcoin, and it won’t shake you..

You can even do both lowkey… learn first, then maybe start with very small amounts while you’re still learning..

Don't delay starting your Bitcoin accumulation process to learn about Bitcoin. You can learn about Bitcoin during the apprenticeship period. If you have $10 available funds at the time of starting, start accumulation Bitcoin with that amount of funds. The value of Bitcoin can increase much more than you expect in a single day. In my opinion wasting one day in a long term investment concern can mean you can set back many years. If you are technically knowledgeable about what Bitcoin is and how it works, you will probably be emotional and take risks for accumulation Bitcoin but you should be regular with discretionary income. I would suggest accumulation Bitcoin during the apprenticeship period, no matter how small the amount is.

[Zanab247]

Don't allow anybody to tell you that there will not be mistakes in your crypto investment journey OP. Some of the successful crypto investors you are seeing around the society today made some mistakes when they were learning crypto investment but they never give up on their mistakes, because they know crypto investment is profitable, and truly those guys have made a lot of profit from crypto investment.

I guess this is a new way to start crypto by using what you can afford to lose in crypto, because even though you lose or win from the investment you will not forget what causes it to happen and you will continue using that strategies to continue earning profits, but if it is loss you will stop using that strategies to avoid loss in your next investment.

[JaanusRaim]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

One little hint.
Do you know does Michael Saylor buy or sell BTC  ?
If you buy when Saylor buys, you will be a competitor to him (and to other similar giants). And this does not end well.
If you buy when Saylor sells, you will be a partner to him.

Buy when Saylor sells.
Sell when Saylor buys.