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Author Topic: If you could teach a new Bitcoin user only 3 things, what would they be?  (Read 222 times)
MainIbem
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Today at 12:24:57 PM
 #21

Many people see Bitcoin a quick profit opportunity they disregard the investment opportunity with it which is very important for future financial stability to the first thing I'll teach a newbie is how to invest, which includes how to buy and the different strategies involved another thing people overlook is security of their wallet so I'll teach the newbie how to secure their wallet. Lastly, many people are bothered about taking profits and end up withdrawing too early cause they don't understand the right time to withdraw so that's another area I'll concentrate on when teaching a newbie about Bitcoin.

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oll
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Today at 01:31:21 PM
 #22

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?



First tip: every beginner should understand that he is not the smartest guy in the world of trading and crypto.The guys have been learning to trade Bitcoin for decades, but even so, many people fail to show decent results. And so that beginners do not waste their energy and time, it is better for them to immediately master all the rules of accumulation taught by JJG. Studying these topics and understanding DCA saves a lot of effort and time.
Lesson two: a beginner should know that so far bitcoin has always updated its ATH, due to this, everyone who knew how to wait eventually found themselves in profit.
And the third lesson is that there is no need to regret the lost profit, because it is a feeling that has no practical meaning, but it greatly hinders many traders from living and moving forward.

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Today at 02:14:33 PM
 #23

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?
If it's a complete beginner, then the following are probably the three things they should learn before they get started:

1. Basic information about Bitcoin, other cryptocurrencies, and this market, because it's important for one to know these things before they get involved financially, especially they need to know the use cases of Bitcoin instead of thinking that Bitcoin is just a speculative asset with no use other than buying and selling it in the markets.

2. It is important for a beginner to understand that there are no legit Bitcoin or crypto investment platforms where they can invest their assets and be able to make about 100% to 150% profits every month without doing anything, and that anyone who approaches them over the internet for any sort of help needs to be ignored.

3. And finally, they need to learn how they can use exchange platforms and wallets, and it is also important that they learn about the types of wallets, because apparently, so many people don't even know what non-custodial or self-custody is, they simply create an account on an exchange, and use that as their wallet as well.

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Today at 02:19:14 PM
 #24

The very first thing I will teach a newbie is that Bitcoin won't make you rich in short duration and if you are coming with that expectation then don't invest in Bitcoin. The second thing I would tech him is that since you are investing for long term you must have a money that you can forget for at least 4 years or even more. This is because if you don't have such money then you won't be able to invest for long duration. Lastly I will advice him to pay strict for security of your Bitcoin because once stolen or lost, you can't recover your Bitcoins.

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Today at 03:02:49 PM
 #25

The very first thing I will teach a newbie is that Bitcoin won't make you rich in short duration and if you are coming with that expectation then don't invest in Bitcoin.
Such time for getting rich quickly with Bitcoin gone years ago and with time, with market cycles, there will be less ROI annually and cyclically. If anyone hope for such "get rich quick" opportunity with Bitcoin since 2026, it's unrealistic and impossible investment target.

Quote
The second thing I would tech him is that since you are investing for long term you must have a money that you can forget for at least 4 years or even more. This is because if you don't have such money then you won't be able to invest for long duration. Lastly I will advice him to pay strict for security of your Bitcoin because once stolen or lost, you can't recover your Bitcoins.
Investing money in Bitcoin, holding your bitcoin for long term is very good. This chart shows very strong exponential ROI growth of Bitcoin over years since 2009 to 2026.
https://charts.bitbo.io/yearly-candles/

This map of holding can give more information and motivation for investment and holding.
https://hodl.camp/

If need more guides on how to invest, how to withdraw profit with time, this topic is helpful
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

R


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Nothingtodo
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Today at 03:05:57 PM
 #26

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?
If someone new to me comes to me and asks about Btc and wants to learn something and the first thing I will teach them is that you should first learn about Bitcoin and its risks.

Learn about Bitcoin wallets and how to ensure the security of your wallet.

If someone new to me wants to learn, I will definitely tell them about trading and investing, that before choosing risky coins, they can try trading or investing with Bitcoin as a demo. And I will teach them one extra thing, which is to gain knowledge about the past, present and future of Bitcoin.

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Today at 03:06:44 PM
 #27

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?



1. Move your Bitcoin off the exchanges first, the same day you buy it, because exchanges are not your friend, they can freeze your account because the compliance officer had a bad morning. Hardware wallet was and will always be the best solution for your Bitcoin. learn how to use entropy and generate a seed phrase before everything. Always do your own research.
2. Ignore every altcoin. Bitcoin is slow and expensive for a reason. Study Bitcoin.
3. Expect the price to drop 80% at least twice while you hold, after those two times, you will get used to it and deal with it better in the future. Learn how to deal with yourself and do nothing at those times. The time in the market beats timing the market.

BitBrainers. Macro and Bitcoin analysis. No exit price.
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Today at 03:36:36 PM
 #28

What did you understood when you first started?
I was initially very interested in investing in Bitcoin this is why my first action and the first knowledge I knew while early in my Bitcoin journey was that I learned how to buy. It was after a few weeks in this forum that I discovered the importance of security to avoid loss of investment. I was lucky to learn quickly and not be a victim to loss.

If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?
My first lesson will be on security because knowing how to secure your investment first will prevent any chances of loss.

The second lesson will be on how to buy, and where to buy.

The third lesson will be a strategy to invest with.

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Today at 03:43:23 PM
 #29

I was initially very interested in investing in Bitcoin this is why my first action and the first knowledge I knew while early in my Bitcoin journey was that I learned how to buy. It was after a few weeks in this forum that I discovered the importance of security to avoid loss of investment. I was lucky to learn quickly and not be a victim to loss.

My first lesson will be on security because knowing how to secure your investment first will prevent any chances of loss.

The second lesson will be on how to buy, and where to buy.

The third lesson will be a strategy to invest with.
All these things, advice, lessons are only for theory, on paper, on notes if people are traders because with traders, they will leave their coins on exchanges. It's only the common reality, and people only can apply these security and storage recommendations if they are investors. Because when they change from being traders to investors, their purposes and actions are different. From trading to investing and holding, they will have better reasons to withdraw their coins from exchanges, and store them in their non custodial wallets.

With traders, it's not comfortable to deposit, trade, withdraw and repeat this cycle, so with most traders they will have a risky practice of leaving and storing coins on exchanges. Unfortunately, most people in this market are traders, not investors so they can read and know about advice but won't apply.

I don't offend you but being investors are very challenging and most people are traders, they love trading.

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Today at 03:46:47 PM
 #30

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?


When I first started learning about Bitcoin, the first thing I was taught about Bitcoin was to know what Bitcoin actually is and how to use it. There have been so many stories about newbies losing their Bitcoin and this must be happening because they could not learn how to keep their Bitcoin very safe before venturing into buying and holding it.
Newbies have to start learning how to keep their Bitcoin safe so that they don't lose them to scammers. You can lose your entire Bitcoin portfolio if you have not learn the trick these scammers are using to scam their victims.

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Today at 03:49:25 PM
 #31

Non custodial and open source wallet as well as entropy generated by that wallet for wallet seed phrase.
How to back up a wallet and use wallet backup for recovery.
Security and privacy are important.
Every link leads toward a single topic "Wallets" I think you have really fed up with the current ColdCard wallet situation!

Anyway, I am trying to teach someone about crypto, and bitcoin is the first thing I want them to learn about, so basically I have given them a course that has been taught in many schools.

https://myfirstbitcoin.org/

This is really helpful for a newbie to know everything about Bitcoin, blockchain, fiat, etc. Without going into a lot of technical details, I am also giving him some videos to watch and some articles to read.

Although, I think to have a good opinion about Bitcoin, wallet is one of the most important things, but I would not go deep into the technicalities of any topic, as it also depends on the caliber of the person. If they are already technical, then they can be given such sources. Otherwise, start small and slow.

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Today at 06:48:39 PM
 #32

Many things there to know about bitcoin.

1. Bitcoin is a volatile coin this mean that the price of bitcoin don't only go in one direction it's either going up or down, so for you not to be much affected with this volatility of bitcoin as you are accumulating you are also holding for a long time.

2. Only invest in bitcoin with your discretionary income, this is money you can afford to lose which comes after you have taken care of all other things most important to you.

3. Also have it in mind that bitcoin doesn't guarantee profit so as you are investing don't conclude that you must surely make profit, you could either loss or make profits.

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Today at 08:21:20 PM
 #33

All these things, advice, lessons are only for theory, on paper, on notes if people are traders because with traders, they will leave their coins on exchanges. It's only the common reality, and people only can apply these security and storage recommendations if they are investors. Because when they change from being traders to investors, their purposes and actions are different. From trading to investing and holding, they will have better reasons to withdraw their coins from exchanges, and store them in their non custodial wallets.

With traders, it's not comfortable to deposit, trade, withdraw and repeat this cycle, so with most traders they will have a risky practice of leaving and storing coins on exchanges. Unfortunately, most people in this market are traders, not investors so they can read and know about advice but won't apply.

I don't offend you but being investors are very challenging and most people are traders, they love trading.
This is true; if you are a trader, then making sure that you are not keeping money at an exchange would be both costly and tiresome. What are you going to do: deposit each time you want to trade, then after the deposit arrives you trade, and when you are done, withdraw? That would be very costly, and it would also be extra work that is not needed.

I understand there are very bad exchanges, but you simply do not use them and use places like Binance. You think that a company that is worth hundreds of billions and has that much money would end up risking it? Of course they store it on cold wallets, which means that you are basically trading with their profits, so even if all of the money in all of their hot wallets were gone, they would continue. In fact, they store it better than you can, so in theory, if your account is not hacked, then the chances of you losing your money at Binance are lower than your own hardware wallet getting hacked.

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Today at 08:37:24 PM
 #34

1. Buy bitcoin only, and don't look into altcoins yet. It's important to focus accumulating bitcoin while we're in a bear market.

2. Don't panic when a bad news comes. It always comes but it's always gone eventually.

Never rely your decision to anybody, you have to know it clearly that there will be a lot of people telling you this and those but in the end, it's your own decision that you must be followed.

3. "Never trust, always verify" might be short words and simple, but it's full of protection for an individual.

 
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Today at 09:17:56 PM
 #35

Based on my experience, I'd probably teach them these three things:

1. Bitcoin is a digital currency, not digital gold as advertised on the internet.
2. Self-custody is simply a way to fully own your Bitcoin.
3. Bitcoin isn't a get-rich-quick scheme. You need consistency and discipline to see results from your investment.

Actually, if possible, I would teach them more than 3 things, because when I first learned about Bitcoin, I didn't have access to such knowledge. But basically, I'd probably teach them these three things first and see how they react before moving on.

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Today at 09:46:26 PM
 #36

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?



I consider these  three as very important
Patience - As a newbie into bitcoin one has to be patience enough in other to achieve your aim and purpose, you need to take your time to study and understand how Bitcoin works to avoid unnecessary mistake that will cost you dearly.
When you are patience you don't rush, you avoid a lot of side distraction that you see along the line

Transactions - One must be able to understand the charges, time , numbers of input and output various exchanges procedures and steps of various transactions either buying, selling, receiving or sending and withdrawal of funds also addresses types and their confimation.

Wallet Security - How to secure your wallet properly to avoid loss of the seed phares or involving third party to your funds .

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Today at 09:51:58 PM
 #37

How to store your coins safely, purpose behind Bitcoin creation and the impact of halving over Bitcoin price.

I think those are the three lessons for potential investors interested in Bitcoin expecting practical results on long run. I could also add the lesson of only investing what you can afford to lose, but I guess that is applicable to investments in general, so they should be already aware about that beforehand.

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Today at 09:55:34 PM
 #38

There is a lot of information about Bitcoin, and I think this can make it difficult for beginners to know what they should learn first.
If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

I am especially interested in answers based on real experience rather than just general advice. What did you understood when you first started?
There is no know way I complete beginner to Bitcoin would know what to learn first, talk more being in position to chose three things he or she would about Bitcoin Bitcoin. So don't expect me to answer you like a complete beginner, the three things I Will advice newbies to learn are: what Bitcoin actually is and why it exist, secondly, how Bitcoin works at a basic level, lastly Bitcoin security and Self custody, before moving to other things if they want to.

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