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Author Topic: What are things to consider before someone go into investment?  (Read 227 times)
Franctoshi
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Today at 12:13:57 PM
 #21

Basic Knowledge about the investment you want to get involved.
Your Investment capital ( amount to be used)
Risk Tolerance; amount of money you can invest for a long period of time without having to worry about the funds or be needing it in a short period of time.
Lastly, The Purpose of investment or investment goal; (Retirement purpose, hedge against inflation, self custody etc).

 
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Oyoyoma_yu
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Today at 01:32:34 PM
 #22

There are different types of investment, and every investment has a way of making investors successful. How do I mean, Bitcoin is not a business of selling of goods , and services, but an investment that requires patience, perceverance before you will be able to make profit. More also, know your risk tolerance because not everyone endures long term investment, and don't also depend on your long term investment for your immediate survival. Bitcoin investing is not meant meant for everyone since everyone cannot endure the pains of Bitcoin bear market, and volatility. As a beginner, it is wise you understand what Bitcoin investing is all about, and be sure you can cope with the behavior of Bitcoin, make your research, and do not only rely on mere information.
TrialBitcoin
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Today at 01:43:29 PM
 #23

Basic Knowledge about the investment you want to get involved.
Your Investment capital ( amount to be used)
Risk Tolerance; amount of money you can invest for a long period of time without having to worry about the funds or be needing it in a short period of time.
Lastly, The Purpose of investment or investment goal; (Retirement purpose, hedge against inflation, self custody etc).

I agree. Before putting money into any investment, you need to understand what you are investing in and why. Your capital should come from money you can afford to leave invested, not funds meant for emergencies or essential expenses. Risk tolerance is also important because every investment can experience losses or volatility. Most importantly, having a clear goal helps you choose an investment strategy that actually fits your financial situation and time horizon.
Proty
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Today at 02:42:07 PM
 #24

You did the right thing with the explanation you offered to him. The problem here is that he   is starting with the wrong mindset, because the questions he asked as regards how much profit he is to make and the anticipated timeline is not the kind of mindset he should start with. This is evidence that he lacks an understanding on how bitcoin works.
Bitcoin is mostly suitable for long term investment and should not be seen as an avenue of making quick profit. What ever Money that is meant for daily needs or that can't be locked away for years such money isn't supposed to be used for bitcoin investment.
However, it is all about personal decision, so your own is just to explain how things works then is entirely to him to decide what is best for him whether he fit to invest or not based on your explanation.

Cgrexp
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Today at 03:02:01 PM
 #25

There are different types of investment, and every investment has a way of making investors successful. How do I mean, Bitcoin is not a business of selling of goods , and services, but an investment that requires patience, perceverance before you will be able to make profit. More also, know your risk tolerance because not everyone endures long term investment, and don't also depend on your long term investment for your immediate survival. Bitcoin investing is not meant meant for everyone since everyone cannot endure the pains of Bitcoin bear market, and volatility. As a beginner, it is wise you understand what Bitcoin investing is all about, and be sure you can cope with the behavior of Bitcoin, make your research, and do not only rely on mere information.
When investing in Bitcoin, you should not only look at potential profits. You should also have your own financial capacity and mental preparation to withstand price drops. It is not right to invest with money for daily expenses, urgent needs, or future essential responsibilities. It is not right to make investment decisions based only on information about price increases, nor should you make decisions based only on frightening information. It is more reasonable to know about market volatility, consider your own financial situation and risk tolerance, and then make decisions. Instead of directly following someone else's opinion, you should try to understand how Bitcoin works, its risks, and whether you have the real ability to hold it in the long term. Investment decisions should not be based on potential profits, but on your own financial reality, time perspective, and risk tolerance.

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