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.

[ASloveapg]

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.

Bitcoin is profitable in the long run, but this profit is not guaranteed. When we introduce a new investor to Bitcoin, we should tell him about the risk, and advise him that if you are able to accept this risk, if you have the ability, then you should invest only. Because in something that you do not have the ability to manage, or the risk of which you have no knowledge, you will definitely make a mistake in some way, which will usually cause you a big loss. And that is why in Bitcoin investment, instead of blindly comparing investments, you should gain general knowledge about it, how it works, what its risks are, and then you should invest only if you have the ability and mentality to manage it properly. Because one mistake can ruin everything for you, and in the case of Bitcoin, it is very difficult to manage this investment in the long term, and so you have to be very careful here.

[Crypto_Timothy]

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.

Exactly, majority of the money who see Bitcoin as quick money is because they were onboarded with that structure and mindset, probably their mentor just wanted to make money or something, so people just got onboarded m, thinking if they invest with high amount, in like a short period of time that can double abi 5x and then dey cash out.
I have actually had conversations with people like this and that's why for a fact, I would always hold or rather trace it back to how they were adopted and who did the onboarding because there is no how you will do personal research about Bitcoin and then still see Bitcoin as fast Money, I choose not to believe it's possible so that just tells you anyone with that quick money mindset go onboarded wrongly.

[Cossyblack]

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.

Bitcoin is not a risk free investment, so whosoever is investing in it should consider the risk and have basic knowledge of it to avoid making mistakes while investing in it. Investing in bitcoin is risky because you could lose all your money if some thing bad likely happens to it in the future as it doesn't offer any guarantee.  This is why investors are advice to invest with only their discretionary income so that they can bear the risk if something bad likely happens to their investments.  Newbies who are investing outside of their  discretionary income likely panic sell their bitcoin stash when the price doesn't move as planned.

[Dizciple]

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.

A new investor that starts looking for a quick way to make money always knows what they're doing and it isn't because of the liees on the internet because most people know that what they're getting into isn't good for them but they still do it because of their greediness. It's the greediness that's making people leave the legitimate way of making money and trying fast ways that they'll get scammed then later they start to act like they're the victims. New investors have to avoid all the scams through investing by buying and holding Bitcoin or other cryptocurrency that they have done research on and see promising future with the coins. There are some fast money making coins that new Investors have to avoid too and this coins are the ones that gets pump and dump and most of them are memecoins because they don't have any values and they'll make you to lose money. This are just some of the things that everybody needs to know before they start investing.

[Sulegzy39]

Actually, there are many things to consider while preparing to invest. As a new investor, you will be patient, and if you are the kind of person that always looks for quick money, it will hard for you to be patient in investing, because you will not be investing today and be expecting money today. Some investments take so long before you will see your reward, and if you are a new investor, you have to avoid online scams while buying Bitcoins or other cryptocurrencies, and newbies always make mistakes.

There are some fast-making coins newbies have to avoid be calm in any aspect. 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.

[Achalugo BTC]

Bitcoin is profitable in the long run, but this profit is not guaranteed. When we introduce a new investor to Bitcoin, we should tell him about the risk, and advise him that if you are able to accept this risk, if you have the ability, then you should invest only. Because in something that you do not have the ability to manage, or the risk of which you have no knowledge, you will definitely make a mistake in some way, which will usually cause you a big loss. And that is why in Bitcoin investment, instead of blindly comparing investments, you should gain general knowledge about it, how it works, what its risks are, and then you should invest only if you have the ability and mentality to manage it properly. Because one mistake can ruin everything for you, and in the case of Bitcoin, it is very difficult to manage this investment in the long term, and so you have to be very careful here.

You are right. One mistake when investing in Bitcoin can ruin everything, and holding is not as easy as it sounds, because price fluctuations can cause one to deviate from their rules. That is why it is essential for one to acquire knowledge and understanding of Bitcoin. After that, they can proceed to invest only what they can afford to lose. They can use this method to gain experience and determine whether they can handle the pressure and risks involved or whether they should leave it and focus on other things.

[Dannyella]

Had some discussion with a friend of mine who happened to be an old time friend during our school days back then, I mean during our secondary school and he asked what business I'm into currently and I told him I do some scalping and also, buying of cryptocurrencies and he said he would want to join to me. That is not even the case but he kept asking what amount of money he should be gaining in a specific time interval. I told him in bitcoin investment you must exercised patient before you could at least see something from your investment and even as that, you would be holding for at least 2-4 years time before you could see profits from your investment.

Then question he asked that how is he gonna sustain till then? I said to him, look bro if you must ever go into bitcoin investment you wouldn't use your last money to invest with the mindset that you gonna make it within 24hrs that this is not a Ponzi scheme. I have tried to explained to him about the whole thing but he kept insisting that he would put his money into bitcoin just to at least to have some dividend when time comes.

Lastly, I told him before you must join anything investment you must have work at your hand to do before joining bitcoin investment because through your work and salaries you would be able to sustain yourself without having to temper with your investment, and he said is that so serious? and I said yes. On his own he started seeing me as someone who doesn't want him to start his investment, however I decided to bring up this discussion over here since he has been seeing me as someone who doesn't want him to start up the investment.

If it was you what would you do at this point, allow him to invest or what?
Your input are needed, maybe who knows I could share some post here with him to know that I was doing him right thing.

To be honest you just made this topic very exhausting to read as a good number of your writeups were riddled with numerous grammatical errors and poorly constructed sentences,I had to strain my eyes to go over your points repeatedly before I could fully comprehend the context of your message.

I think that you really did good by enlightenment your friend about what he must do before starting bitcoin investment,it’s better to tell him the truth about having other sources of income for other expenses and not spend from his investment rather than telling to start investing without proper information or guidance.

It tells how much of a good friend you are,since your friend has refused to see you as one then he will still learn the hard way whenever he is ready to start investing on his own.

[Yorubek]

You are right. One mistake when investing in Bitcoin can ruin everything, and holding is not as easy as it sounds, because price fluctuations can cause one to deviate from their rules. That is why it is essential for one to acquire knowledge and understanding of Bitcoin. After that, they can proceed to invest only what they can afford to lose. They can use this method to gain experience and determine whether they can handle the pressure and risks involved or whether they should leave it and focus on other things.

Making the wrong decision while investing in Bitcoin can have a big impact on the investment, so it is very important to have basic knowledge about Bitcoin before starting the investment. This allows you to manage your investment with discipline and confidently hold Bitcoin for a long time, thus being aware of the risks of investment. When the investor is aware of the risks of Bitcoin, the investor will not lose confidence quickly due to market volatility, it will be easier for the investor to take every investment opportunity with confidence.

[Proty]

Actually, there are many things to consider while preparing to invest. As a new investor, you will be patient, and if you are the kind of person that always looks for quick money, it will hard for you to be patient in investing, because you will not be investing today and be expecting money today. Some investments take so long before you will see your reward, and if you are a new investor, you have to avoid online scams while buying Bitcoins or other cryptocurrencies, and newbies always make mistakes.

There are some fast-making coins newbies have to avoid be calm in any aspect. 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.

Having patience is good when investing, but patience alone isn't the only thing that needs to be considered while investing our money. We should always consider our financial situation and to only invest money we can leave untouched for years. Using money that is supposed to be used for our essential needs will only put us into unnecessary financial pressures. Another thing is to understand the risk involved in what we are investing our money into. For our investment to be successful we need to understand what we are investing in, and not just being patient.

[Somto9Light]

Bitcoin is profitable in the long run, but this profit is not guaranteed. When we introduce a new investor to Bitcoin, we should tell him about the risk, and advise him that if you are able to accept this risk, if you have the ability, then you should invest only. Because in something that you do not have the ability to manage, or the risk of which you have no knowledge, you will definitely make a mistake in some way, which will usually cause you a big loss. And that is why in Bitcoin investment, instead of blindly comparing investments, you should gain general knowledge about it, how it works, what its risks are, and then you should invest only if you have the ability and mentality to manage it properly. Because one mistake can ruin everything for you, and in the case of Bitcoin, it is very difficult to manage this investment in the long term, and so you have to be very careful here.

You are right. One mistake when investing in Bitcoin can ruin everything, and holding is not as easy as it sounds, because price fluctuations can cause one to deviate from their rules. That is why it is essential for one to acquire knowledge and understanding of Bitcoin. After that, they can proceed to invest only what they can afford to lose. They can use this method to gain experience and determine whether they can handle the pressure and risks involved or whether they should leave it and focus on other things.

Holding bitcoin is easy to the core except you are just someone that is used to monitoring the market. Do you know that there are people that did a lump sum and haven't access their wallet for a very long time because they don't want anything that will make them emotional when they discover that their investment has dropped. Some people invest and never goes back again to check how much they hold, that's the kind of character that a hodler should possess and not always looking at market prices and always checking their balance to know how much that has added or how much that has reduced.