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

[btc78]

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

selling when i need the money has been my mistake so far. or rather investing money without having extra funds. i sometimes think about how big my holdings could be now if only i kept being consistent. but it’s okay and i know better now.

[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..

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.

No one is saying he should delay his start of investment…. When I talked about having knowledge, I meant the basic knowledge, which is even necessary before someone starts buying and doing DCA whenever he wants to start…

It doesn’t hurt to at least understand the basics of something you’re putting your money into, or does it? Because at the end of the day, having little understanding about Bitcoin, wallets and things like that can even help someone stay calmer and avoid unnecessary mistakes later on..
Starting small while learning is fine, but completely going in blindly without even basic knowledge does not make sense at all..

[Danica22]

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.

Do not delay, but also do not rush or be hasty. Do not invest in thing you do not understand. That is even riskier than buying at a higher price, but at least you know exactly what you are doing.

Remember that as long as the market exists and bitcoin remains volatile, opportunities will always be there. But opportunities disappear if you lose all your capital or make ill considered decisions.

Investment profit depend on your knowledge and strategy, not on whether you enter the market early or late. Many early investor invested in Bitcoin but ultimately failed, while those who joined later still made profit.

[hyudien]

~snip~
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 while learning is a pretty safe move in my opinion, especially since you've said you'll buy with money you can afford. Because in fact learning about bitcoin will continue to grow, there will be new things that you and we may continue to learn, the most important core is not to sell when experiencing a price decline. All conditions will return to normal as when you buy at that price, because this fluctuating factor is also very important to encourage that.

My biggest mistake, yes that, selling at a loss, it happened in the past, when bitcoin was not like now.

[Aanuoluwatofunmi]

When we are considering for Bitcoin, then know that the good way to start is not by you investing first, but to take much of your time in learning to know about the network, once you have established your stand and gain some necessary information about how to go into bitcoin investment, then you can gradually begin by investing with little amount you can afford to lose before growing it to become something big you could depend for a long time.

[Cgrexp]

When we are considering for Bitcoin, then know that the good way to start is not by you investing first, but to take much of your time in learning to know about the network, once you have established your stand and gain some necessary information about how to go into bitcoin investment, then you can gradually begin by investing with little amount you can afford to lose before growing it to become something big you could depend for a long time.

Many people think that buying Bitcoin means making a profit in the future, but while investing in the hope of profit, many do not pay attention to the main purpose, method and management of the investment. Due to which, fear and disappointment arise after seeing the market fall after the start and are forced to sell at a loss. Again, due to lack of proper management, they may be forced to sell. New investors are usually advised to start with a small amount. Because this gives them the opportunity to overcome their fear at the beginning and invest slowly, and over time, they have the opportunity to learn from their own experience and mistakes. However, if a large amount of money is poured in at the beginning, there is a possibility of making the wrong decision if the market goes against them. If you start in this case, you will have the opportunity to understand your own risk capacity, mentality and market.

[Zanab247]

Using small amount of money to start investing it will help you to learn fast and start improving, because you will learn a lot from your lost and win to know which strategy you will be using to remain wining. If you mean what you said not to use big amount of money on BTC when you are learning as a newbie, it will open your eyes to learn from other newbies mistakes and it will make you not to involve yourself into losses, which is what every hodlers don't want to experience.

As a newbie, you must have this in your mind, never to sell your BTC in the bear market because it will not allow you to make big profits that will satisfy you or motivate you to buy BTC.

[Akbarkoe]

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

selling when i need the money has been my mistake so far. or rather investing money without having extra funds. i sometimes think about how big my holdings could be now if only i kept being consistent. but it’s okay and i know better now.

That mistake is a very common one among Bitcoin investors who rush into investing. It's okay; it's an important lesson for you, as it seems.
We invest with expectations and hopes for the long term or the short term. This is a common perception, whether long-term or short-term, of all investors. However, what's certain is that the more we learn, the better. Whether it's from our own mistakes or the experiences of others, the most important thing is to never stop improving yourself in investing, as that is the most fundamental asset you must have if you want to advance in life.

[Rubuchi]

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

selling when i need the money has been my mistake so far. or rather investing money without having extra funds. i sometimes think about how big my holdings could be now if only i kept being consistent. but it’s okay and i know better now.

I am not even gonna blame you for that. Many people take investment for granted and would say so many nice things about a responsible and sustainable way towards investing but it is mostly theoretical and on paper but in reality they struggle to have it like so. For somebody like you to have come open about your lapses, I will commend you for that and encourage you to get better as it is always possible to get better. Try and practicalise investing discretionary funds and having a spare of emergency funds too and you will have no much challenges with inconsistent investments through touching your holdings

[barbara44]

Buying while learning is a pretty safe move in my opinion, especially since you've said you'll buy with money you can afford. Because in fact learning about bitcoin will continue to grow, there will be new things that you and we may continue to learn, the most important core is not to sell when experiencing a price decline. All conditions will return to normal as when you buy at that price, because this fluctuating factor is also very important to encourage that.

My biggest mistake, yes that, selling at a loss, it happened in the past, when bitcoin was not like now.

It should start with the money first. If we use money we can afford to lose, we can have a peace of mind and it will now be easy for us to multi task or in our case here (to learn about bitcoin). It is also easy to digest what we are reading. I don't think there is more with Bitcoin. I mean the technology.

So there is not much to learn after the basics. That sounds better though because there is no more added obligation to us. There will be a time that one may need money and they already accumulated enough Bitcoins. So they can also use it in times of emergency. That means they will also sell no matter what the condition of the market is. No need to regret for that.

[maydna]

Starting investment with small is okay and not be a problem at all. A beginner should adjust their money first before starts Bitcoin investment and allocating some money they can afford. Using DCA is the way they can do so they will buy based on the term they set before. They don't rush in the investment because they set a long term target so they just enjoy the time and buy at the time.

They are not worry with the fluctuation because that is happens all the time. If they can buy according the time they set for some years, they will see the return will comes to them and that makes them smile seeing their profit starts bigger.

[henmark]

Starting investment with small is okay and not be a problem at all. A beginner should adjust their money first before starts Bitcoin investment and allocating some money they can afford. Using DCA is the way they can do so they will buy based on the term they set before. They don't rush in the investment because they set a long term target so they just enjoy the time and buy at the time.

They are not worry with the fluctuation because that is happens all the time. If they can buy according the time they set for some years, they will see the return will comes to them and that makes them smile seeing their profit starts bigger.

In fact it is actually better, you should be able to reach a level where you are slowly getting better, like your first aim should be to have just one salary worth of money on bitcoin that's it. If you can reach that then make it 3 months worth of salary and then 6 months and then one year. After that the sky is the limit and you can do whatever you want. This works for everyone, the dude that makes 200 dollars at some small poor nation, and the dude that makes one million dollars a month.

Because system is same for everyone, have one month worth of money aside, whatever you are earning. You can be Elon, and not have that much cash aside. So this works for everyone, and just make sure that you save enough before you start to grow further with your investments.

[DiMarxist]

Starting investment with small is okay and not be a problem at all. A beginner should adjust their money first before starts Bitcoin investment and allocating some money they can afford. Using DCA is the way they can do so they will buy based on the term they set before. They don't rush in the investment because they set a long term target so they just enjoy the time and buy at the time.

They are not worry with the fluctuation because that is happens all the time. If they can buy according the time they set for some years, they will see the return will comes to them and that makes them smile seeing their profit starts bigger.

For a new investor who is thinking about starting to hold Bitcoin, then it's best advised to start small and first of all learn about what Bitcoin is in details and know how it works before thinking about investing big. This is were the role of DCA comes into play , new investors should learn how to use a small amount of money in investing because that is very key and important when it comes to Bitcoin investment.using a large amount of money in investing in Bitcoin without knowing how Bitcoin operates is not good because such people usually panic when ever there is a change in the price due to the effects of volatility.

[Rubuchi]

For a new investor who is thinking about starting to hold Bitcoin, then it's best advised to start small and first of all learn about what Bitcoin is in details and know how it works before thinking about investing big. This is were the role of DCA comes into play , new investors should learn how to use a small amount of money in investing because that is very key and important when it comes to Bitcoin investment.using a large amount of money in investing in Bitcoin without knowing how Bitcoin operates is not good because such people usually panic when ever there is a change in the price due to the effects of volatility.

bitcoin investment is not as dangerous to invest in, I don’t think you have to learn everything about it before you can make any kind of investment even if it is a huge one, in as much as that investment is going to stay for a long period of time it does not matter as the risk is minimal in that case. No matter how volatile bitcoin becomes once the investment is long time, a time will come within the season that it will retrace and even shoot up beyond the amount you invested in it. It is only traders that panic that much because they deal with a short term .

[summonerrk]

Right now, bitcoin is a great asset to invest in, as always. He is going through a new phase, and I believe that all good things are ahead.In the long run, for sure.
Whales with a balance of 1,000+ BTC netted 270,000 coins in 30 days, the largest monthly accumulation since 2013.
Yes, the risk of serious sales remains.  BTC at 77K is 12% higher than the ATH of the previous bullish cycle.
Most whales still hold huge unrealized profits.
But their sales stopped.  Strategy does an excellent job with dividend payments. The SEC's investigation of DAT companies is on pause.  Phase: controlled correction, not capitulation. The bad scenario area:  $70,000. If it holds up against the backdrop of ETF outflows, strong DXY and pressure on the MSTR, this will be a serious confirmation of the new level.