Basic knowledge is enough.

[puloweh555]

Basic knowledge of Bitcoin may not have a direct definition but explanation of it can answer the question and help someone(newbies) who needs it to start their Bitcoin investment journey.
When you say basic knowledge, it means foundational requirements in informations and practicals necessary to get started in a particular thing or area of life.
Talking of Bitcoin, that means foundational information and practicable required to start Bitcoin investment, that's the basic knowledge of Bitcoin investment.

You must not have a degree in Bitcoin or years of learning before you can invest in Bitcoin. Basic knowledge is enough!
So
What are this foundational informations and practicable skills in Bitcoin investment?
As in,
what are the basic knowledge in Bitcoin investment?

Do you think the basic knowledge to learn Bitcoin is very easy and do you think Bitcoin Sheka is very easy? If you think it is very easy, I would say that you do not know much about Bitcoin. People have been trying to learn about Blockchain for years but people are not learning completely. The more they learn, the better they will discover. There is no end to learning in this world. With just basic knowledge about Bitcoin, you can move forward and invest, but you will not know much about Bitcoin and Blockchain, so I think nothing should be taken lightly.

While learning about Bitcoin is never ending, there's always more to learn, to start investing in Bitcoin, having basic knowledge allows you to start investing and learn while investing. If you focus on learning for years you won't know when to invest, so learn while investing.

In my opinion, basic knowledge is essential besides understanding buying and selling. You must understand basic security, for example Don't leave your Bitcoin on an exchange for too long because it's not your keys, not your coins. Use a hardware wallet if you have a large amount, always activate 2FA and keep your seed phrase strictly confidential. Furthermore, every beginner should have a basic strategy. The basic strategy is using the DCA strategy. This is one of the safest methods for beginners with long term holding, as many successful investors rarely trade.

[bitgolden]

investing is mostly about HODL'ing but we still need that comprehensive info at first, especially when one is a complete noob on crypto or even on other types of investments. This is because there are so many assets that one can choose from and then not all are legit to begin with. We literally can be upset if your goal is get rich quick and then we will follow the traditional method of investing, you know by doing stuff like DCA and other less risk methods, as they are literally slow.

But good news for those greedy and impatient peeps, we now have pumps and dumps such as meme coins here in crypto that they can gamble their money with. Speaking of the word gamble, they are actually free to be careless knowing that they only put minimal amounts or try to be more serious by implementing that comprehensive info right there.

You do not need any info to start DCA, you can do DCA with very minimum info, which is "buy bitcoin with money you save aside" or "buy bitcoin with money you do not need for a while", and keep doing that.

After that, I agree that you are going to end up learning, because DCA is a long term method and if you do that then you are going to have ample time to start studying on how to trade and how to make money from trading and gain some experience for it too.

[Obulis]

That basic knowledge will work on spot trading if you stick with Bitcoin, and if you understand the fundamentals of support and resistance, or I believe the simple buy low and sell high, you will be able to buy bitcoin at a low price and sell it once the price reaches your target.

There is no need to complicate things; simply understanding buy low and sell high is sufficient.

However, simple things cannot make anything clear if you do not understand the market. For example, if you do not know the Bitcoin history or price history, when do you believe is the best time to buy BTC?
For example, suppose the current price is $110k and the price drops to $90k. If your logic is to buy low and sell high, you will buy at $90k, but the price continues to drop to $60k.
What are you planning to do? Do you sell? I'm sure some newbies will sell it out of panic, but if you have a strategy like DCA, you can buy more at the $60k level and expect a good reward after the block halving.

Basic knowledge would not be enough if you don't have a plan and strategy to make a profit.

So far the point of buy low and sell high that you made is typically trading and we are talking about Bitcoin investment not trading. That's basic knowledge of Bitcoin investment.

However, simple things cannot make anything clear if you do not understand the market. For example, if you do not know the Bitcoin history or price history, when do you believe is the best time to buy BTC?
For example, suppose the current price is $110k and the price drops to $90k. If your logic is to buy low and sell high, you will buy at $90k, but the price continues to drop to $60k.
What are you planning to do? Do you sell? I'm sure some newbies will sell it out of panic, but if you have a strategy like DCA, you can buy more at the $60k level and expect a good reward after the block halving.

Basic knowledge would not be enough if you don't have a plan and strategy to make a profit.

Not to forget, the simple things in this case is to get started not the end and therefore should definitely be enough for a start instead of waiting till who knows how long before making a move to finally start investment.
To think of it, investing in Bitcoin is to make profit but different from wanting this profit the next few days or weeks or month as in trading, so the plan is to hold for a long-term and the strategy could be all best DCA on that basic knowledge is still enough.

[SuperBitMan]

I believe that you must not have every knowledge about bitcoin before you can start investing in bitcoin all you need to have is the basic knowledge of bitcoin and those basic knowledge are how to accommodate bitcoin and how to hold it. These are the two basic knowledge I think is very important for anyone who wants to start bitcoin investment lastly before I forget, no the right wallet to use if you know these three things then you are good, as time goes on you will know more about bitcoin investment when I started bitcoin investment I did not have the knowledge I have now it was because of experience that made me know all the things I know today about bitcoin investment if you are waiting to know everything about bitcoin investment before you can start investing in it then you are wasting your precious time.

[Creeper0]

The lack of knowledge that prevents you from understanding Bitcoin properly, understanding the main purpose of investing, trusting Bitcoin, purchasing Bitcoin, finding a safe way to store Bitcoin, and managing your wallet is called basic knowledge. Basically, the knowledge you lack to learn about Bitcoin and start investing is basic knowledge.

This knowledge may vary slightly from person to person, if you know nothing about crypto, then your basic knowledge will be slightly different and more. If you have some knowledge about crypto and Bitcoin, then your basic knowledge will be different and relatively less. You should feel that you need some knowledge, without which you cannot start investing.

[GIF-JOBS]

investing is mostly about HODL'ing but we still need that comprehensive info at first, especially when one is a complete noob on crypto or even on other types of investments. This is because there are so many assets that one can choose from and then not all are legit to begin with. We literally can be upset if your goal is get rich quick and then we will follow the traditional method of investing, you know by doing stuff like DCA and other less risk methods, as they are literally slow.

But good news for those greedy and impatient peeps, we now have pumps and dumps such as meme coins here in crypto that they can gamble their money with. Speaking of the word gamble, they are actually free to be careless knowing that they only put minimal amounts or try to be more serious by implementing that comprehensive info right there.

You do not need any info to start DCA, you can do DCA with very minimum info, which is "buy bitcoin with money you save aside" or "buy bitcoin with money you do not need for a while", and keep doing that.

After that, I agree that you are going to end up learning, because DCA is a long term method and if you do that then you are going to have ample time to start studying on how to trade and how to make money from trading and gain some experience for it too.

Starting DCA does not require very complex knowledge, just regularly investing money that you can live without that money, and it will not cause you any problems in case of need, that is, you can meet your needs without this money. Many people assume that DCA is easy and that there is no risk in it, but in reality, market volatility will always be there, we need to understand that no matter how good our strategy is, the issue of uncertainty cannot be ignored. We have to invest in the midst of uncertainty, so we have to be prepared for anything. But of course, in terms of investment, we have to try to invest as consistently and consistently as possible.

[henmark]

I believe that you must not have every knowledge about bitcoin before you can start investing in bitcoin all you need to have is the basic knowledge of bitcoin and those basic knowledge are how to accommodate bitcoin and how to hold it. These are the two basic knowledge I think is very important for anyone who wants to start bitcoin investment lastly before I forget, no the right wallet to use if you know these three things then you are good, as time goes on you will know more about bitcoin investment when I started bitcoin investment I did not have the knowledge I have now it was because of experience that made me know all the things I know today about bitcoin investment if you are waiting to know everything about bitcoin investment before you can start investing in it then you are wasting your precious time.

Having knowledge about which wallet to use is a knowledge that is often overlooked but it has a lot of importance. So many new Bitcoin investors buy Bitcoin through centralized exchanges and then keep their assets in those exchanges instead of withdrawing them to a wallet, and even if some of them do withdraw them, they use custodial wallets to store and keep their bitcoins, which is not a good practice since we know that a wallet which doesn't give you access to your private keys is not suitable for long-term holding. This is why, it is extremely important for newbies to know about non-custodial wallets and understand their importance.

Every new investor in Bitcoin should go through Bitcoin.org's Choose your wallet before they start their journey, because when you decide to do something, you should make proper preparations for it, because having money but no wallet to keep it is kind of weird, and same is the case with Bitcoin or cryptocurrencies. When you decide to buy and hold, you should have somewhere to keep your assets, exchanges are for buying and selling, they aren't to be used as wallets.

[Mpamaegbu]

There's this word I have heard that
Before learning how to on a machine.
 
You should first learn how to off it

As hilarious as that sounds, it's nothing but the truth. It hits well.

The first thing is understanding how to secure your coins

For me, that's the whole basic stuff of Bitcoin investment. Just know how to buy and secure your coins and you're good. In 2017 when I started my amateur investment in this industry that was all I knew. It helped me in a big way to avoid hacks.

And another is not to confuse trading for investment.

A lot of people do mix both up. You're right.

[L E G E N D A R Y]

Starting DCA does not require very complex knowledge, just regularly investing money that you can live without that money, and it will not cause you any problems in case of need, that is, you can meet your needs without this money. Many people assume that DCA is easy and that there is no risk in it, but in reality, market volatility will always be there, we need to understand that no matter how good our strategy is, the issue of uncertainty cannot be ignored. We have to invest in the midst of uncertainty, so we have to be prepared for anything. But of course, in terms of investment, we have to try to invest as consistently and consistently as possible.

No strategy is immune to market volatility, because temporary market fluctuations are totally inevitable, and the only way to tackle that volatility issue would be to always at all time maintain a long term outlook and mindset when investing in Bitcoin. Yes, to an extent, this may not really matter that much for beginners and newbies who simply trying to get a hang of the whole thing as they begin their accumulation. But as they proceed, and to keep themselve in the journey, it becomes crucial and mandatory to get familiarized with these facts because these are the things that keeps you rooted and keeps you away from making stupid decisions due to emotions.

[ndutndut]

Starting DCA does not require very complex knowledge, just regularly investing money that you can live without that money, and it will not cause you any problems in case of need, that is, you can meet your needs without this money. Many people assume that DCA is easy and that there is no risk in it, but in reality, market volatility will always be there, we need to understand that no matter how good our strategy is, the issue of uncertainty cannot be ignored. We have to invest in the midst of uncertainty, so we have to be prepared for anything. But of course, in terms of investment, we have to try to invest as consistently and consistently as possible.

No strategy is immune to market volatility, because temporary market fluctuations are totally inevitable, and the only way to tackle that volatility issue would be to always at all time maintain a long term outlook and mindset when investing in Bitcoin. Yes, to an extent, this may not really matter that much for beginners and newbies who simply trying to get a hang of the whole thing as they begin their accumulation. But as they proceed, and to keep themselve in the journey, it becomes crucial and mandatory to get familiarized with these facts because these are the things that keeps you rooted and keeps you away from making stupid decisions due to emotions.

Market volatility is part of the market and is unavoidable. That's why it's important to have a deep understanding and have a higher income. This means investing or trading with money you can afford to lose which will help you better control your emotions during market volatility.

Market volatility is a reality we must accept. Bitcoin can rise 10x in a few years, but it can also drop 60% before that happens. This is evident in history every time a halving occurs so both scenarios are perfectly normal.

Traders or investors who can remain calm in both situations will naturally reap the best results in their investments and trading. So, what I want to convey is that before starting trading or investing besides basic knowledge it's also important to manage your finances well as this is crucial for remaining calm in the face of market volatility.

[Big Dirams]

Sure you are on track mate, market volatility is part of the process and it is inevitable because there is no way we can avoid it even if one become very knowledgeable and gain much experience market volatility will always show up but it just how we manage the situation that gets to improve when we have gain much experience and knowledge of the market.
 The earlier we accept that facts that market volatility is part of the process the easier the journey becomes for us because we wouldn’t have to get moved anymore by any market volatility instead we make proper preparations for it when it shows up. 

[taufik123]

The first thing is understanding how to secure your coins

For me, that's the whole basic stuff of Bitcoin investment. Just know how to buy and secure your coins and you're good. In 2017 when I started my amateur investment in this industry that was all I knew. It helped me in a big way to avoid hacks.

In the past, when I first came to the crypto ecosystem, I was completely stupid enough to ignore the security of the wallet and how to store private keys properly.
Losing some assets due to not having access to a wallet was the beginning of how I really cared about the security of the wallet and how to store the private keys properly,
so that the coins would remain safe and I still had access.

Basic knowledge is important, about the slightest thing and how to use a wallet, buy, sell and make withdrawals, it must be learned.
Don't just focus on how much money you will make, but focus on basic knowledge that will have a big impact later.

[Mame89]

The first thing is understanding how to secure your coins

For me, that's the whole basic stuff of Bitcoin investment. Just know how to buy and secure your coins and you're good. In 2017 when I started my amateur investment in this industry that was all I knew. It helped me in a big way to avoid hacks.

In the past, when I first came to the crypto ecosystem, I was completely stupid enough to ignore the security of the wallet and how to store private keys properly.
Losing some assets due to not having access to a wallet was the beginning of how I really cared about the security of the wallet and how to store the private keys properly,
so that the coins would remain safe and I still had access.

Basic knowledge is important, about the slightest thing and how to use a wallet, buy, sell and make withdrawals, it must be learned.
Don't just focus on how much money you will make, but focus on basic knowledge that will have a big impact later.

Sometimes we can improve with experience and that's a good thing. But for those just starting out, it's important to thoroughly study security to avoid fatal mistakes.

For beginners investing in Bitcoin sometimes seems "easy," especially as some say it's enough to understand the basics, such as understanding Bitcoin, learning about charts, DCA, halving and even FOMO. But they often forget about wallet security even though it's the lifeblood of their entire investment. Many people underestimate wallet security because they think using a major exchange like Binance will be safe or they think using any wallet because no one knows their seed phrase, even though some wallets are easily phished. Or they assume it's because their assets are small when in fact we have to learn and practice proper asset security. They fail to realize that most people lose their assets not because of blockchain hacks, but because they themselves are careless with their wallets or exchange access.

[Byebyebtc]

Yes you can start with the basic knowledge of Bitcoin, but I think you will still have to go deeper in terms of understanding how it works and how it moves, just for your emotion sake
So you wouldn't go making emotional mistakes that will lead to losses.

[nara1892]

Yes you can start with the basic knowledge of Bitcoin, but I think you will still have to go deeper in terms of understanding how it works and how it moves, just for your emotion sake
So you wouldn't go making emotional mistakes that will lead to losses.

Especially regarding the risk side and what can trigger significant risks. In most cases and from my experience, the thing that usually causes more losses is a lack of responsibility. Therefore, self-acceptance of risk is very important and mandatory for a trader. Make sure everything has been calculated from the start regarding how much capital you have, what the ideal loss limit per session is with the capital you bring and what your target per session is. Everything must be clear, and most importantly, in my opinion, emotional management.

[cxtreenal]

Bitcoin is a valuable digital asset and store of value. With this basic knowledge as a foundation, gain the necessary basic knowledge about holding in a non-custodial wallet. You can easily learn about Bitcoin security and investment without the need for formal education. It does not require many hours of work to learn the basics of Bitcoin.

You will need discretionary income. Regular Bitcoin accumulation will generate discretionary income from a regular source of income and be mentally prepared to do it for the long term.

[Makus]

This is one of the reason why people prefer to get into crypto investments instead of trading because investments just requires basic knowledge alone unlike trading that requires a lot of knowledge. As a Bitcoin investor you can start investing with the basic knowledge that you have but this doesn't mean that you should not try your best to know more because having knowledge can give you an advantage. No one can know everything there is to know about Bitcoin, no one can be a professional but you can make profits by staying updated.

[taufik123]

-snip-
For beginners investing in Bitcoin sometimes seems "easy," especially as some say it's enough to understand the basics, such as understanding Bitcoin, learning about charts, DCA, halving and even FOMO. But they often forget about wallet security even though it's the lifeblood of their entire investment. Many people underestimate wallet security because they think using a major exchange like Binance will be safe or they think using any wallet because no one knows their seed phrase, even though some wallets are easily phished. Or they assume it's because their assets are small when in fact we have to learn and practice proper asset security. They fail to realize that most people lose their assets not because of blockchain hacks, but because they themselves are careless with their wallets or exchange access.

Ordinary people are just stuck with the phrase "Just Learn the Basics" But they don't know that Wallet security is also included in the basic knowledge that needs to be known.
People just skip it in order to learn how to do the analysis properly and correctly without knowing that the security they have is still quite vulnerable.

You can also see that there were many people in the past who had thousands of Bitcoins but they forgot their private keys,
were careless and lost millions of dollars worth of private keys, so they lost access to wallets with thousands of Bitcoins.

Now to make it safer and more maximally you can use a hardware wallet and this is the right choice,
but still the private key is the responsibility of the owner where it will be stored to be more secure and not exposed by others.

[vs2014]

If you want to make money investing in crypto make sure you have experience and if you really want to hold Bitcoin make sure you can use all the strategies. Choose a good exchange then buy and save Bitcoin. You can only apply the best strategies or experience in crypto when you practice a lot. You will not gain much knowledge in a very short time so you have to wait until you know everything. A newbie in crypto is more likely to lose money because he rushes into investing without understanding anything.

[Pandorak]

You do not need any info to start DCA, you can do DCA with very minimum info, which is "buy bitcoin with money you save aside" or "buy bitcoin with money you do not need for a while", and keep doing that.

After that, I agree that you are going to end up learning, because DCA is a long term method and if you do that then you are going to have ample time to start studying on how to trade and how to make money from trading and gain some experience for it too.

Exactly right, to start investing in Bitcoin, you don’t need in depth information or knowledge, you can do this once you’ve started DCA. So, to get started, you only need discretionary funds to make purchases, these are the funds remaining from your income after paying all your bills and covering your living expenses, get started as soon as those funds are available. Over time, you can learn more about Bitcoin and this is essential to build your confidence in the asset you’re holding. Once you have that knowledge, you’ll likely come to understand just how valuable Bitcoin is.