Is Good Bitcoin Advice Always Good Advice for Everyone?

[Sammysmart001]

Most a-times as we are growing and learning about Bitcoin, daily we see different users who are more experienced sharing their experiences on how they use Bitcoin. Wallet which they uses and also how they manage and secure their funds.
Most of the times this advices are very much useful, and again I thought about this that, does this good Bitcoin advice always means it good advice for everyone ?


Given example of users who have being using bitcoin for years now and they hold a huge amount may use more advanced way of securing their coin, and beginners will see this and will want to do same thing immediately.
But as a beginner you don’t fully understand how this security setup works out, so if you take same bold step instead of making Bitcoin safer you can end up making mistakes and will loss access to your funds.

This why we shouldn’t just accept all the good advices but rather ask is this advice sweet or fit in my own situation? Experiences and needs.
Yes this user that give this advice is literally trying to help out, and this works for him well but this doesn’t automatically mean we should do same or will fit in our own situation. What will be his favor might not be of Favour to u.

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

[ZeroVinsonN]

If the advice is about what to buy with, where to buy from and where to keep your bitcoin then it's generally a good advice that works for everyone, if the advice is about how much to buy with then that's a completely different story, different people have their different buying capacity, if I can spend 50k naira every week to buy bitcoin that doesn't mean I will just advise anyone who wants to invest in bitcoin to do the same, maybe what you can afford is 10k naira a week or maybe less so instead of trying to invest with the same amount that I invest with, you should invest only with what you can afford.

[Mpamaegbu]

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

As na two questions u ask for d matta, wan for d title and anoda for d body of ur post. Make I start wit d first wan wey be "Is Good Bitcoin Advice Always Good Advice for Everyone?" To dat wan I go sey e depends on wetin d persin wey dem dey talk to about Bitcoin wan hear.  Wans wetin dem tell am click wit wetin im wan hear, gbam! E go call am betta advice. Na d same wey we dey talk sey nor court judgment be bad judgment. E depends on who d case go against.

Now, to d question above. In d past, I dey look out for advice wey dey tell me sey e go pump. Then I go rush out small money on top to avoid FOMO. Dis day, I nor send again. I nor even wan listen to anybody's evangelism on Bitcoin. I don form my conviction sey Bitcoin nor dey run go anywhere; at least for now.

[Hypnotizer]

Given example of users who have being using bitcoin for years now and they hold a huge amount may use more advanced way of securing their coin, and beginners will see this and will want to do same thing immediately.
But as a beginner you don’t fully understand how this security setup works out, so if you take same bold step instead of making Bitcoin safer you can end up making mistakes and will loss access to your funds.

Advices especially those coming from experience people are really good and insightful, it help give you clear guidance and insight into what you should do and how but guidance isn’t  equal to mandatory procedures, and the sooner you understand that the better.

Even if you’ve received lots of advice and guidance from experienced people, you still need to DYOR because you might not even understand the advice really well if you don’t understand the basics. So “Good Bitcoin Advice” are always good but only if you understand what you’re doing as a beginner.

[Loyang]

Good advice is always good, but we have to take our own decisions after considering how effective it will be for ourselves and how beneficial it will be for us, etc. and see how good the decision we are taking or the advice we are taking can be for our financial situation. But yes, in some cases we take knowledge from some people which is not at all correct and as a result it has a big impact on us.

It is never a good decision to take any knowledge from someone and do the same thing as him, rather research the knowledge from him and consider how beneficial his advice can be for your investment style and your financial situation etc. and move forward.

[Dr.Bitcoin_Strange]

It depends on what the advice is strictly about, if it's about the security of your wallet, your privacy and how to protect yourself against scammers, then it's definitely going to be a good advice that suits everyone but if the advice is about how much that you should invest in Bitcoin every day, you as a Bitcoiner knows your financial capabilities and on your own you can decide the amount that is very much okey for you to invest, if you follow someone else advice in terms of the amount to invest, it could actually affect you because you are not supposed to invest such amount. So, yea, it depends on what the advice is for.

[Anayochukwu]

In every good advice you should only take the ones you understand and the ones you can handle and go make use of it, if you go overboard then it's entirely your fault, when users that have been in the crypto space for long are sharing their experiences the new people should know their limits for now and understand that it's not everything you do at a time before you make a mistake and ruin yourself. If the advice is about Bitcoin prediction, how you should buy and when you should buy then you really need to ask yourself real questions before doing exactly what the adviser is doing because what worked for him might not work for you.

[CryptopreneurBrainboss]

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

The good advice for Bitcoiners suits everyone in the industry irrespective of what your portfolio holda in volume. As far the advice is good for the whales, it's also good for the retail investors like you and I that our capital can't be compares to those investing in millions. What are the advice?, making use of Non custodial wallets, DCA and Hodl, not buying because of FOMO or selling because of FUD, backup your seed phrase and keep them offline?

All this are good advice that suits everyone. If there are specific advices being given to you alone don't follow them untill you crosscheck to make sure you aren't being targeted or misled. Any advice you get always confirm with expeimce users on the forum to make sure you're moving in the right track.

I see some newbies getting advice like they should go for altcoins instead of Bitcoin and they think they're getting good advice but they aren't so always verify the advice you're getting.

[Qhunman]

The good advice for Bitcoiners suits everyone in the industry irrespective of what your portfolio holda in volume. As far the advice is good for the whales, it's also good for the retail investors like you and I that our capital can't be compares to those investing in millions. What are the advice?, making use of Non custodial wallets, DCA and Hodl, not buying because of FOMO or selling because of FUD, backup your seed phrase and keep them offline?

All this are good advice that suits everyone. If there are specific advices being given to you alone don't follow them untill you crosscheck to make sure you aren't being targeted or misled. Any advice you get always confirm with expeimce users on the forum to make sure you're moving in the right track.

I see some newbies getting advice like they should go for altcoins instead of Bitcoin and they think they're getting good advice but they aren't so always verify the advice you're getting.

I feel some people don't verify advice that they get that's why some of them get into trouble and regret it. Advice are good but it depends on who is giving you the advice and the kind of advice. There are some advice that you will get even without being told,you will know that this particular advice is wrong, sometimes we should trust our instincts and do as it says because it can't lead us to problems.

You are right,some advice are just there to mislead you,so no matter where the advice is flowing from and from who, always verify if it's for you or maybe for someone else. For instance someone advices you to invest in bitcoin,fine that's a good advice, maybe it is the first time you are hearing about bitcoin,so the right to do is to verify about that information so that you don't get misled. You have to carry out a thorough research about bitcoin to ascertain if bitcoin is safe and whether you can invest in it or not.  I think Advices should be given a deep thoughts irrespective of where it comes from and not all of it should be taken seriously.

[Judith87403]

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

If you are given an advice as a beginner, what you should do is to do your own research to back up those advice that you listened to, also make further research to be sure that you are not making the wrong decision, use many sources and compare the results of each, it should give you a clue of what you should do next. Not every advice is worth jumping into, when someone gives you an advice it is left for you to be wise and know how to go about it. There are people that can give you a wrong advice probably because they don't want you to be successful as they are especially when they see that you are developing interest to invest. Be careful of what you feed your ears and be vigilant. Wallet security is very important as a beginner because scammers targets newbies who are inexperienced in the crypto industry so if you are someone that has no knowledge about wallet security you might end up becoming a victim to scammers.

[Sammysmart001]

The good advice for Bitcoiners suits everyone in the industry irrespective of what your portfolio holda in volume. As far the advice is good for the whales, it's also good for the retail investors like you and I that our capital can't be compares to those investing in millions. What are the advice?, making use of Non custodial wallets, DCA and Hodl, not buying because of FOMO or selling because of FUD, backup your seed phrase and keep them offline?

Exactly I do agree with you most especially on the aspect of some advice can apply to almost everyone most especially on basic security and also avoiding FOMO. What am actually pointing at it advices that so involve a certain strategy or setup, for an experience user what will be easy and safe for them may turn out complicated for a beginner once there is no full understanding about how it works.

[Shadiq]

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

Cold medicine may not be beneficial or effective for a person with fever. So, you have to take the right medicine for the right disease.

Similarly, in the case of advice, before giving advice to someone or taking advice from someone, the situation must be considered. You will see that good advisors want to know about your situation or try to understand your position before giving advice.

Bitcoin investment always prioritizes the financial situation or related situation of the person. Considering the situation, there may be different advice for two people and different strategies may be preferred. So it can be said for sure that not all good advice is good for everyone, some good advice may cause harm to someone.

[Callido]

This why we shouldn’t just accept all the good advices but rather ask is this advice sweet or fit in my own situation? Experiences and needs.
Yes this user that give this advice is literally trying to help out, and this works for him well but this doesn’t automatically mean we should do same or will fit in our own situation. What will be his favor might not be of Favour to u.

What makes advice good is knowing that it is quite useful and could potentially help in solving a pressing issue or help make a bad situation good. It is the same for Bitcoin, and when attempting to secure your wallet, all advice is to be examined, queried, and even modified to fit in exactly where you would need it. Taking advice is not enough, verifying the advice is necessary so that you no go take paracetamol for wetin no be the problem.

Many ways to handle Bitcoin wallet security, everybody can say what they use and how it works for them, always make sure to use what you are compatible with, some people go on to apply cold storage and still lose their Bitcoin due to one or a few reasons, always verify before you apply.

[UseCrypt01]

If the advice is about what to buy with, where to buy from and where to keep your bitcoin then it's generally a good advice that works for everyone, if the advice is about how much to buy with then that's a completely different story, different people have their different buying capacity, if I can spend 50k naira every week to buy bitcoin that doesn't mean I will just advise anyone who wants to invest in bitcoin to do the same, maybe what you can afford is 10k naira a week or maybe less so instead of trying to invest with the same amount that I invest with, you should invest only with what you can afford.

Exactly because different people have different ways of buying, and it also depends on how much you can afford, not what you were being told to. Even though you were advised on how to buy, all you have to do is verify and know the exact one you can afford to buy and not just jump to conclusions and buy. So that, at the end of the day,  you will be full of regrets. Any investment you're being told you will- first of all, understand how it works and how much you can start with, it's very important. Don't just jump into it, just like that most especially when it's the first time of you buying Bitcoin.

[ruykeri]

You are right. In fact, a holder should strengthen the security system depending on how much Bitcoin he has. Now, a new investor does not need to think about all these things right now, but if he sets up all these things, his investment will be further delayed. A new holder's holdings may be now $100 or $300. He should not be too excited about hardware wallets and complicated security systems on the first day. And a common mistake of beginners is following others but not considering his own position. I think another thing is important for newcomers. It is okay to not acquire all the advanced security knowledge before starting. Starting with small amounts and gradually can improve knowledge and security in parallel.

[Cryptomultiplier]

This why we shouldn’t just accept all the good advices but rather ask is this advice sweet or fit in my own situation? Experiences and needs.
Yes this user that give this advice is literally trying to help out, and this works for him well but this doesn’t automatically mean we should do same or will fit in our own situation. What will be his favor might not be of Favour to u.

What makes advice good is knowing that it is quite useful and could potentially help in solving a pressing issue or help make a bad situation good. It is the same for Bitcoin, and when attempting to secure your wallet, all advice is to be examined, queried, and even modified to fit in exactly where you would need it. Taking advice is not enough, verifying the advice is necessary so that you no go take paracetamol for wetin no be the problem.

Many ways to handle Bitcoin wallet security, everybody can say what they use and how it works for them, always make sure to use what you are compatible with, some people go on to apply cold storage and still lose their Bitcoin due to one or a few reasons, always verify before you apply.

It's always good to take an advice like a pinch of salt and when it comes to Bitcoin advice, many if us here grew in our Bitcoin investment by taking advice from those who we consider more knowledgeable than us.

One rule about Bitcoin investment these days remains, trust but verify. So when you get an advice you basically didn't ask for, always verify by doing your own personal research for confirmation before you adopt it or improve or improvise on it.

[Felicity_Tide]

~snip

To the house, if you are being given Bitcoin advice what should you consider before you say it suit you ?

Advice is a big word especially when addressing something as broad as Bitcoin. It can range from wallet security to investment and many other areas that advice can come from. But for a Bitcoin community like this, you should expect to get some of the best advice from people who are far more experienced. You talked about Bitcoin security... Not sure of a better place to learn about it than here. Not all genuine newbies understand how to navigate their way through personal research, which makes seeking advice more better. Infact, I believe people tend to learn faster from others than when they attempt to figure everything out on their own.

If you think you actually don't need advice as a newbie, then you shouldn't bother asking for one in the first place. It's not like asking for advice is mandatory... Those who truly need them should ask for one. But what's more important is to be wary of where you seek advice from.

[L E G E N D A R Y]

If the advice is about what to buy with, where to buy from and where to keep your bitcoin then it's generally a good advice that works for everyone, if the advice is about how much to buy with then that's a completely different story, different people have their different buying capacity, if I can spend 50k naira every week to buy bitcoin that doesn't mean I will just advise anyone who wants to invest in bitcoin to do the same, maybe what you can afford is 10k naira a week or maybe less so instead of trying to invest with the same amount that I invest with, you should invest only with what you can afford.

Yeah, there are advises that works for everyone and there are those that may not really apply to everyone, such as how to invest, approach and how long to invest. These kind of decisions are meant to be taken based on the individual’s personal experience, financial situation, risk tolerance level, and other things that may not really match with other’s style.

[Marykeller]

The thing be sae, any advice wey more than two people don give so, the thing don become good advice so.

As this forum dey so, the majority of us are saying the same thing when it comes to Bitcoin investment. Any advice wey any of us no get right, you see peso wey go correct the peso on the right advice to be given.

As I d tell people, this forum of ours d like school. We learn everyday and we d teach other people wetin dem no know when em come for Bitcoin investment.

[I_Anime]

Firstly you personally need to know what suit you , If someone recommended Bitcoin to you as a store of value, in order to have full control and ownership without relying on any third-party intermediary. The smart thing to do is to research about it first because the folk is not going to tell everything you need to know about bitcoin , even skipping some basic information.

Many does not see bitcoin as peer-to-peer electronic cash without relying on any third party, which is the main purpose bitcoin was created. Because the folks that advice them about bitcoin , comes to them With idea of bitcoin being a form of investment . That’s why you will have to do your own personal research to see if something that suit ya .