What are things to consider before someone go into investment?

[GiftedMAN]

So whatever you do, never make Bitcoin look like something a person can rely on to escape poverty overnight, let them know that there are risks involved with every investment and they are responsible for making the decision.  You can explain things to someone and tell them the correct way to go, but you can't make the decision for them.

Your explanation to them gives them a better understanding about what Bitcoin investment is all about, if you make it look like they are investing to make money the next day then they will blindly follow your information to invest with the hope to make money very easily but if you give them the guideline and ask them to do their own research for a better understanding about Bitcoin investment.

There is risk in every business and you don't tell a newbie that he can't experience risk because the moment they become too comfortable and careless they can even expose their seed phrase to a third party and expect to have their moeny still in their wallet. Bitcoin investment gives profit but doing your own research helps to you to avoid certain risk that are not good in your investment journey.

[Promocodeudo]

Using Emergency fund to go into investment of I see that kind of a person i go give am hand ahh money that you know in to time you will need it what if after purchasing coin tge market drops snd you need your money? Tho there are some kind of people who can risk it but to me abeg abeg I can’t emergency money Na emergency money anything can happen at any time.

First of, I think people should understand what emergency funds is meant for before they cab consider if the risk of wanting to invest with it is really ideal.

The role of emergency funds is spelt out, it is not hidden, for me, I think our emergency funds is not for any other thing apart from catering for emergencies, any investor that has another plan for it apart using it for emergencies should be considered as someone taking too much risk.

Have we bothered to ask ourselves why it is important for us to create an emergency separate as soon as we begin our Bitcoin investment, so how do we now think that such funds can be used for the same investment that it was meant to protect?

[Achalugo BTC]

There is risk in every business and you don't tell a newbie that he can't experience risk because the moment they become too comfortable and careless they can even expose their seed phrase to a third party and expect to have their moeny still in their wallet. Bitcoin investment gives profit but doing your own research helps to you to avoid certain risk that are not good in your investment journey.

Exactly. If some newbies are being told about Bitcoin investment just as you stated, there are some careless mistakes they can avoid. But the moment they understand what lies ahead of them, they will be more cautious, as they will know the right thing to do and make informed decisions. Although mistakes are inevitable, no one who is above making them, and Bitcoin can be profitable if they keep away from making mistakes that could destroy their plans. That's why doing their own research can help them protect their investment.

[Xackie]

Investing with your emergency funds is like a ticking time bomb that can explode at anytime.  When it does explodes it leaves alot of damages.  There are still investors who underestimate the power of an emergency funds.

If you can invest your emergency funds, then I already believe that you won’t be able to hold your bitcoin for a long term, because if anything happens, you just going to sell your bitcoin, and use to
Money for any problem which you are having at that period of time. Don’t be surprise that bitcoin price might have dump when you will be in need of money, and you won’t have choice than to sell at rush.

If I see people Dey invest their emergency funds for bitcoin, I Dey feel say dem never sabi much about bitcoin yet, because we suppose Dey secure emergency funds keep even before we start bitcoin investment, so anything wey make u carry d money go invest, if anything happen u go sell d bitcoin, and nobody knows when emergency go happen, e fit be when we no even expect self.

Well the ball is in their court and whatever happens to their invest is their responsibility.  Many of them downplay the importance of having an emergency funds, by thinking its just a random type of savings., without even trying to understand it's purpose. There's no way you can have a successful investment if your emergency fund isn't available or you used it to invest.

The problem with people is that they are always focused on how much they could make from the market, thereby thinking that if they invest with more money hence more profit to them. Although it is a good idea, but their mistakes is using their emergency fund to accumulate even though they already have discretionary income before.  They don't think about the cost future if an emergency arises. Make emergency funds as a part of your investment goals too, as you are focused on buying bitcoin so as you should be focused on saving for emergencies.

[Hyphen(-)]

So whatever you do, never make Bitcoin look like something a person can rely on to escape poverty overnight, let them know that there are risks involved with every investment and they are responsible for making the decision.  You can explain things to someone and tell them the correct way to go, but you can't make the decision for them.

Explaining it in related to making money even if it is after one year is something that will make the new investors thinks that it can happen quick and easily; but introducing Bitcoin to them as an investment like real estate that you will have to buy property for future purposes, but this is a digital currency and you can buy small small whenever you have free money that you are willing to save for the future. Instead of saving the money till it reach huge amount like we do when we are trying omen a property, for Bitcoin investment, you can buy weekly or monthly with any amount you have to keep accumulating it, and it is safe since you will be your own bank, your control of your Bitcoin will be on you, no any third party of you buy and save it in your non-custodial wallet. The important thing is keeping your seed phrase and your private key safe.

[Bitcoin Maxi]

There is risk in every business and you don't tell a newbie that he can't experience risk because the moment they become too comfortable and careless they can even expose their seed phrase to a third party and expect to have their moeny still in their wallet. Bitcoin investment gives profit but doing your own research helps to you to avoid certain risk that are not good in your investment journey.

Exactly. If some newbies are being told about Bitcoin investment just as you stated, there are some careless mistakes they can avoid. But the moment they understand what lies ahead of them, they will be more cautious, as they will know the right thing to do and make informed decisions. Although mistakes are inevitable, no one who is above making them, and Bitcoin can be profitable if they keep away from making mistakes that could destroy their plans. That's why doing their own research can help them protect their investment.

There are so many lies on the internet that can make newbies to lose track and start looking for a quick way for them to make money from the market. Newbies need to prepare their mindset before they start investing in Bitcoin so they don't get too emotional when investing their money to buy Bitcoin. Being focused can be helpful for anyone that want to invest in Bitcoin and unfocused beings add the ones that will be rushing to make quick money without fixing themselves.

[Versatile_choice]

Your explanation to them gives them a better understanding about what Bitcoin investment is all about, if you make it look like they are investing to make money the next day then they will blindly follow your information to invest with the hope to make money very easily but if you give them the guideline and ask them to do their own research for a better understanding about Bitcoin investment.

The only challenge we face while explaining bitcoin to people is that if you don't mention profit there's no way they will be convinced to invest in bitcoin as they will be seeing it as waste. You know nowadays people tend to give attention to what will give them money, that is why I don't blame those that talks about profit while teaching them about bitcoin investment rather; they should not make it look as though bitcoin investment is a get rich quick scheme a kind of short term investment instead we should open up to them that the profit comes in the future not in short term so that let them have it at the back of their minds.