If you could teach a new Bitcoin user only 3 things, what would they be?

[Slow death]

When I entered the cryptocurrency market, I researched faucets, then I found a good faucet site and started claiming satoshis. I accumulated a good amount of satoshis but lost it all gambling on the site itself. Then I sold my unused computer parts and bought Bitcoin. I lost some of that Bitcoin because I was scammed in an ICO investment that year; the guy disappeared with all the investors' money. I believe that, like my beginner's story, there will be other beginners who will go through the same thing. Of course, they won't have faucets to claim satoshis. Therefore, my three pieces of advice would be the following:

1 - Learn about technical and fundamental analysis. Don't skimp on time learning all of this. It will be better this way so you don't easily believe in projects that promise high returns, and don't easily buy Bitcoin just because you saw news where an analyst predicted the price would reach X value. For example, a newcomer might wake up on August 14th and think, "I'm going to look at the news about Bitcoin," and they would come across this:

Key points:

- Bitcoin long positions face multiple threats as BTC price action heads toward new August lows, analyst warns.

- The correlation between Binance open interest and price reached 0.25 on Thursday as both fell.


- The Bitcoin bull market is not ready to make a comeback, CryptoQuant CEO Ki Young Ju says.

source: https://cointelegraph.com/markets/bitcoin-liquidation-cleanout-open-interest-falls-btc

example newbie bought at $62,000, full of dreams of making a 5x profit. He'll see this news, which is very pessimistic, and panic will grip him, telling him: "The price is going to drop a lot, sell now, the price is going to drop a lot, sell now..." and the newbie will sell as soon as he sees the price falling hours later, the next day. Because the guy doesn't know anything about where the support and resistance are, he only knows that he should hold, but for how long? He doesn't know.

2 - Thoroughly investigate any cryptocurrency project before investing money in it. Looking at the past, there are many cryptocurrency projects that went wrong and caused investors to lose a lot of money. For example:  OneCoin,  Bitconnect, TheDao, Terra, LUNA. Most people (this includes myself when I entered the cryptocurrency market) want to earn a lot of bitcoins quickly, which is why they search on Google for how to earn bitcoin fast. Inevitably, they'll find many websites presenting projects promising high returns, and people fall for them. Therefore, my second piece of advice is to thoroughly investigate any project, don't put all your money into it, and treat it like just gambling.

3 - Buy Bitcoin with clear goals. Don't fall for the idea that you just need to hold indefinitely. I would tell people to look at themselves: how old are they, what illnesses do they have, how much time do they have set aside to wait for an increase, and what is the ideal increase for them? After reaching that ideal increase, sell and use the money in the real world while you're still alive. There's no point in holding and dying without ever spending your precious Bitcoins.

[angrybirdy]

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?

Based on my own experience, Heres my top 3 things that I would advise or teach a newbie.

* Learn how to invest in Bitcoin
* Understand Bitcoin and its history- Take time to learn the basics and read useful discussions and topics here in our forum.
*Learn how to protect your crypto investments — Security is very important, especially when you're investing with your own money.

For me, these three things are the best starting points for anyone who is new to Bitcoin. before investing, they should first have a good understanding about Bitcoin, its background, and how it works in the market. I would also teach them how to properly buy btc and start with a small amount transaction...This allows them to become familiar with exchanges and how transactions work without putting too much money at risk. Most importantly, they need to learn how to protect their coin. knowing how to secure their funds, avoid any scams, and keep their account and wallet / seed phrase information safe is just as important as knowing how to invest.

[Tetu100]

There is this method of mine and the way I love doing my own things mostly when it has to do with a newbie that's just starting up. Therefore, if I'm to put them (newbies) through about Bitcoin investment then it should be one step at a time.

* Teaching them the basics knowledge of Bitcoin investment remains the first in my mind before any other thing follows.

* How it can be purchased ( means in which they can start up their Bitcoin accumulations process).

* Best way they can store their Bitcoin assets afterwards.
*

[Baki202]

High risk management, long-term focus or goal and discipline. If you can achieved all of these, you will never find bitcoin investment hard and risky. Because you are no longer investing for greed, for short term get-rich-quick profits, but instead you have clearer future goals and target that will make you become more responsible investor.

And while others see Bitcoin's volatility as a threat, it becomes more of a challenging asset for those who have come to understood the nature of bitcoin investment well.

When it comes to Bitcoin investing, there are very few things to take seriously. We need to learn how to manage risk and when we want to buy. This management also includes protecting your assets from scammers because one of the main things that people are always afraid of when it comes to investing is losing your assets. One way to prevent this is to learn how to keep your seed phrase intact and avoid clicking on pointless links, among other things.

Additionally, we must realize right away that investing is not a quick way to become wealthy; rather, it is something you must carefully prepare for in order to avoid making the error of having unrealistic expectations. Everything else becomes simpler once this is understood, and from what I've observed thus far, we need to provide orientation to those who are just starting out since, when it comes to the market, they always want to be like others.

[Shinpako09]

First is educate. This is very important. One of the reasons a newbie quits after a few losses or after they see their investment drop in value is because they lack knowledge about how it works. Many newbies think making a profit in bitcoin or crypto is easy just like what they see on social media. They think, once they invested, they would gain profit automatically so once they see their money drop a bit, they get discouraged easily.

Second, technical stuff including wallets, where to buy and sell, what to do to avoid getting hacked, how to earn, etc.

Third is discipline. This is the best thing a newbie should develop and practice from the very start. This is the time when greed hasn't entered their mind yet.

[ArabBTC]

Personally i will first teach the newbies patience which is a major characteristic any bitcoin investor should have before thinking of investing in bitcoin because this is were most persons get it wrongly, some newbies see bitcoin as a get rich quick scheme and literally feel that profits will come immediately and when it doesn’t they get disappointed, some ain’t ready for long-term investment plan. I will also teach them not to use their first capital/primary source of income to invest in bitcoin, majority of persons also make this mistake too, they use their primary income to invest in bitcoin and when the profit don’t come when they expect they become unease, lastly and most importantly i will teach them about bitcoin storage/security, with recent happenings it is ideal that anyone who wants to go into bitcoin should know how to store his coins, i will teach them how to use non-custodial wallets to store their bitcoin rather than exchanges and how to protect their seed phrase from scammers etc.

[airbin]

I liked the idea of ​​being your own bank; that premise encompasses everything you want, then making the exception of the decentralized versus centralized concept, and the habits of how to take care of your seed.

[Miles2006]

Bitcoin has a lot of information which is quite interesting, not all information is meant to be learned so I would advice beginners to focus on the ones that matters first before any other step. For example an investor has no business studying the market price, these are common mistakes we think doesn’t matter but, when an investor is not knowledgeable enough or experience to an extend the market prediction movement should be the least thing they give attention to, Newbies should take this advice into consideration:
1.Stay patience
2. Privacy should be  prioritized at all times
3. The use of DCA strategy, I believe newbies who neglect this strategy always find it hard to buy bitcoin regular.

[JoyceBTC]

For someone who is new to bitcoin, the three lessons I would like them to know is that

1. There is no perfect time to invest in bitcoin- stop waiting for a perfect time, there might be no perfect time.

2. No fixed amount to invest in bitcoin, invest with what you have and start accumulating.

3. Use the right strategy that will help you achieve your future goal.

[tbct_mt2]

For someone who is new to bitcoin, the three lessons I would like them to know is that

1. There is no perfect time to invest in bitcoin- stop waiting for a perfect time, there might be no perfect time.

No perfect time, no perfect price, and timing the market is impossible so let's accumulating bitcoin gradually with time.

2. No fixed amount to invest in bitcoin, invest with what you have and start accumulating.

Must be bigger than Bitcoin dust amount and must be at least equal or bigger than min trading value order on exchanges or market places. Usually it is $10 that is quite possible with many people.

Another thing to know is min withdrawal so that they will have information for planning their purchases and withdrawals like how long they need to accumulate, store coins one exchanges before making 1 withdrawal to save withdrawal fee from exchange.

3. Use the right strategy that will help you achieve your future goal.

DCA for purchases and DCA for taking profit.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy
https://costavg.com/

[suzanne5223]

The 3 things i will teach newbies  about Bitcoin so they know what they're getting into are:

1 The core concept of Bitcoin, which makes it the best thing to consider as an asset and currency. Knowing the foundation of BTC is good.
2 Volatility is your friend; understanding 4 years cycle, use it to your advantage through DCA and prioritize long-term in Bitcoin over hype or shitcoin.
3 Self custody is the key nd ssurnce of you truly invest in BTC. Not your keys, not your coins. Learn how to securely hold your BTC for the long term nd avoid human error that will expose your BTC.

2. Privacy should be  prioritized at all times

How many newbies know how to prioritize privacy, which some high rank member are yet to know?

[macson]

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.

Not really. If they want to search, there are so many learning resources on the internet that they can use to understand Bitcoin more quickly and easily. Especially now, you can use AI. Just type what you need, and AI will answer it for you.

If you had to choose only three lessons for someone who is completely new to Bitcoin what would you choose?

Since they're so new to Bitcoin, perhaps I could explain what Bitcoin is, how to buy Bitcoin, and how to store it in their wallet. These are the most basic things they need to know before they can delve deeper into Bitcoin.

What did you understood when you first started?

My first understanding was that Bitcoin was a digital currency, which you could use for global transactions. After that, I delved deeper into Bitcoin --- and that's where I am today.

[Cityhunter34]

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?

Even though there is a lot of information about Bitcoin, I think a newbie that wants to learn will definitely negative the crypto space without much stress, because there is no way you would understand everything in one day. However, the first thing I always teach new beginners is that they should only invest what they can afford to lose, because Bitcoin investment is not a get-rich-quick scheme.

Most times they usually find it difficult to focus ahead when there's a little dip, due to the fact that they didn't start with an amount that wouldn't affect them.

[Queen uloma]

The three things I will advise new bitcoin user is, how bitcoin works, how they can secure their wallet and seed phrase, and how to avoid scams. When I first started, I understood that bitcoin isn’t something that one can buy and wait for the price to rise, understanding on how the technology and transaction works really matters.

Another important thing is that experience thought me that security is everything. No matter the amount of bitcoin a person has, if you can’t protect your seed phrase everything can disappear. So I think beginners are suppose to know all this things, before investing.

[lionheart78]

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 would choose these 3, economics of Bitcoin, Bitcoin security, and Bitcoin legality.  I chose these three because most people who are interested in Bitcoin seldom think about the technology (technical aspect) and the development behind Bitcoin.  These are too techy that needed a good level of programming language.

When I first started, I learned that Bitcoin is a form of currency where a person can use it to exchange for services or use to buy goods.  At the same time, I also found out that it can be traded where profit is possible. Later, I found out that if we want to hold Bitcoin, we should know how to secure our holdings and that keeping our BTC on an exchange has its risks.  

[goldkingcoiner]

1. How to earn it.
2. How to store it.
3. How to spend it.

However, it is not ideal to limit the scope of learning, especially when dealing with absolute beginners. You cannot generalize a person's background knowledge; there is a difference between having no knowledge at all and having misconceptions. I usually tailor my approach based on the context in which the person initiates the conversation about Bitcoin.

I think how to keep it safe is far more important than learning how to earn it. But I can absolutely agree with you on numbers 2 and 3. Storing and more accurately, transferring it to other addresses.

So my version would be:

1. how to store it
2. how to send it
3. how to keep it safe

That is the foundation of any good Bitcoiner. Only then after that comes how to earn it via mining or other ways...

[Muba20]

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.

An investor is interested in investing in Bitcoin but if he does not have a good knowledge of the basics, then holding Bitcoin is risky for him. Among the basics, the things that I will give the most importance to are the wallet, seed phrase and how it will be more profitable. I would definitely recommend using a non-custodial wallet to hold Bitcoin because your assets are the safest with yourself. If someone chooses a good open source wallet and then stores their seed phrases well and plans to hold Bitcoin for the long term, they will definitely be able to achieve success from Bitcoin. There are many who do not give much importance to wallets and some do not store their seed phrases carefully, even if they hold Bitcoin, it will be worthless to them. That is why it is very important for beginners to know about these things.

[bhadz]

I remember when my friends called me in the past ATH asking me what to do and if they should invest. This is what I've told them since there are too many posts already about the basic technicalities of it, I'd rather say the investing aspect.
- Don't invest when you're only hyped because the price is high.
- Never invest what you can't afford to lose.
- Buy and forget
Unfortunately, I can't remember if all of them continued investing, and that was a long time ago. Because no one talks about their journey anymore and it's only me that had continued, they still asks me about some things randomly but I guess that none of them became serious when they had all the opportunity back then.

[Hamza2424]

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 would teach them what digital currency is and how it was created on blockchain, what halving is, and the third would be information about wallets and all of the relevant lessons of the three. Because these are the chapters, and every chapter has many lessons.

A new Bitcoin user also needs resources to start, so for them, the resources compiled by Bitcoin.org are the best. Today, they have completed their 18 years as well. Not today, to be accurate. It was yesterday, I think.

[Wiwo]

The first thing to learn as a newbie is to know exactly what Bitcoin is, how it rules the financial market, the concept around Bitcoin, and how Bitcoin volatility works both for and against its holders.

Secondly, move to custody, learn about Bitcoin wallets and security seed phrase, this two should come before you buy your first bitcoin.

Choosing the right Bitcoin accumulation approach, thus time DCA approach seems to be the best and suitable Bitcoin accumulation approach for beginners.