What are things to consider before someone go into investment?

[Inior]

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.

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

[Chilwell]

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

This is why knowledge is power and it is very important for us to have it in everything we want to do, I don't consider it alone to be the most important when it comes to investment because with it and without money it cannot work. A lot of people who just know about the price of Bitcoin and you tell them how the Bitcoin is before that's really pushed them to get involved without any proper knowledge and the risk involve. A lot of people who don't know about crypto believe that bitcoin is a way getting rich faster, and that is why majority of them are losing because they only understand the positive side of it, but the negative side which is risk was neglected and that was why they could not be able to come back again.

[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.

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

Bitcoin is definitely a high potential investment, but there is never a 100% guarantee of success from Bitcoin. And for this reason, if you invest in Bitcoin for sure profit without knowing the reality, then you can definitely face big losses from it. Because in such a situation, you think that if you invest in Bitcoin, you will always be profitable, and because of this mentality, you do not have the knowledge and mental state to ignore volatility, because you have never researched this issue, due to which when you face real volatility, you will be more likely to make wrong decisions, and this will put the investment in big losses.

And that is why when investing in Bitcoin, you must first research and know Bitcoin, understand the risks involved with it, and you must make investment decisions by considering the risks so that there is no risk of making wrong decisions and the investment can be managed properly in any market situation.

[Fiasem20]

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.

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

I no fit count the good things wey this forum don do for me in term of acquiring knowledge,first when I join this space na only little knowledge i get about bitcoin but as time con dey go and I con read more of the bitcoin related topics from there my knowledge con dey expand.Any newbie wey wan acquire knowledge about bitcoin i go rate this forum to them because no be only bitcoin e go enlighten you rather e go enlighten you on bitcoin related issues wey concern politics and the economy.When I dey tell people say this forum don give me that sense of sharing my opinion with people around the globe and this forum don improve my writing skills,make person no underemphasize the advantage of belonging to a community like bitcointalk.

[Proty]

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

This is why knowledge is power and it is very important for us to have it in everything we want to do, I don't consider it alone to be the most important when it comes to investment because with it and without money it cannot work. A lot of people who just know about the price of Bitcoin and you tell them how the Bitcoin is before that's really pushed them to get involved without any proper knowledge and the risk involve. A lot of people who don't know about crypto believe that bitcoin is a way getting rich faster, and that is why majority of them are losing because they only understand the positive side of it, but the negative side which is risk was neglected and that was why they could not be able to come back again.

It is good for a  beginner to have a basic knowledge of bitcoin investment before they can start accumulating bitcoin . They need to understand the risks involved in bitcoin investment to avoid making mistakes that may make them lose their income. Sometimes people invest in bitcoin with the wrong mindset because they don't know anything about the investment . There are people that walk into bitcoin with the mindset of making quick profit without knowing how risky it is and they may end up selling at losses because the market is unpredictable. People should always see the need to understand what they are buying before they can start putting their money.

[Charcol]

A beginner should always start buying Bitcoin little by little using the dca strategy to avoid stress, timing the market since it will help you buy bitcoin with fixed amounts on a regular bases either daily, weekly or monthly to ease high price volatility.

DCA can be especially effective for those who do not want to take the pressure of investing at the right time in the market. However, there is another important thing to consider. If someone invests money that they may need in the near future, they may have to sell it at a low price to deal with a sudden emergency. Therefore, you should understand your financial situation well before investing. In particular, it can be said that setting aside an emergency fund and considering necessary debt repayments first.

Another thing is that by following the DCA strategy, you may reduce the risk of investing all your money at the wrong time. But there is no guarantee that DCA will guarantee a profit. If the price of Bitcoin continues to decline for a long time, you may still lose money even after buying regularly, especially if you cannot hold on to it at that moment.

[GoldBitcoin112]

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.

In Bitcoin journey many times I have meet this kind of people, they think  Bitcoin investment is just where to invest today and start making it the next day as Ponzi scheme, while you have tried enough to clear the person, one thing I keep on saying is that, things never seems to be right if someone doesn't want to follow your way , it will always look like you never wanted to show them the way , but mined you since you have done your parts just keep away from the person because he might be thinking that you are not revealing any good secrets to him , which you have done your part
Many people today need not to be telling them about Bitcoin investment because they see it as a waste of time they prefer to go to farm instead of investing in Bitcoin you have done Noble for revealing to him the future yet he refused to follow.

[Patrol69]

If you only think about profit, that investment will never be successful, investment does not depend only on profit, but making the right decision on every issue involved in the investment makes the investment more effective. I think every investor should know his income and expenses well before investing. When the investor has a clear idea about his income and investment, he will be able to decide how much extra money he has left and how much of it he can use for investment. Patience is another important thing after starting the investment, there is instability in the market, but decisions cannot be made considering that, rather the objective should be long-term and instead of giving importance to the changes in the market during this long period, I think we should give more importance to continuous investment and ensure that the investment is maintained for a long time. Each of these things is important for investment.

[Abuobyda218]

If you can use all your time and money to make Bitcoin investment, you should also make sure that you have secure your wallet, don't do things that will make you lose your investment and lastly, learn to do research and read on why people makes mistakes and lose their investment, learn from the mistakes of other people that made mistakes to lose their investment.

We should learn from the mistakes of the past so that we do not repeat those mistakes in the future. There have been many cases of central exchanges being hacked in our past but we do not learn from those incidents. We have repeatedly been hacked by keeping our crypto assets in central exchanges. If we learn from the mistakes of the past then surely we are not likely to make the same mistake again. But we repeat the same mistakes we made in the past without being aware of it.

[IceLincoln]

Knowing is the first thing to do in other to avoid a mistake that can cost you significantly. However, this makes information one of the key things in life to succeed in anything you aspire to get yourself into and bitcoin is not an exception. We need knowledge to succeed in our bitcoin investment and that is why forums like this is the best place bitcoin enthusiasts can find themselves so they can link up with like minds

This is why knowledge is power and it is very important for us to have it in everything we want to do, I don't consider it alone to be the most important when it comes to investment because with it and without money it cannot work. A lot of people who just know about the price of Bitcoin and you tell them how the Bitcoin is before that's really pushed them to get involved without any proper knowledge and the risk involve. A lot of people who don't know about crypto believe that bitcoin is a way getting rich faster, and that is why majority of them are losing because they only understand the positive side of it, but the negative side which is risk was neglected and that was why they could not be able to come back again.

From the OP and the title of this thread, having knowledge about what you’re going into is good but before investing all that plenty knowledge isn’t good without you investing first. What you need to focus on is getting the money ready that is from your discretionary income with a basic knowledge of how to buy, where to buy and how to store you’re good to go.
You can start investing small as you grow your knowledge about bitcoin and further increase your investment.

[PhilosopherKing]

In Bitcoin journey many times I have meet this kind of people, they think  Bitcoin investment is just where to invest today and start making it the next day as Ponzi scheme, while you have tried enough to clear the person, one thing I keep on saying is that, things never seems to be right if someone doesn't want to follow your way , it will always look like you never wanted to show them the way , but mined you since you have done your parts just keep away from the person because he might be thinking that you are not revealing any good secrets to him , which you have done your part
Many people today need not to be telling them about Bitcoin investment because they see it as a waste of time they prefer to go to farm instead of investing in Bitcoin you have done Noble for revealing to him the future yet he refused to follow.

Ignorance is a big fat disease. Most people has no clue of what guys have benefited from bitcoin in the past. And that is why someone will have the mind to prefer farming to bitcoin investment, lmao. People like that maybe got scammed doing online stuffs in their own days and that is why they don’t now want to trust anything that has to do with online and internet.

And guys like that are usually the adamant ones that will never want to change their mind no matter how many times you try to convince them. Funny enough, this are still the same set of people that will come back in a few years time after they have realize how dumb they have been all along. And when they are coming back they come back complaining and regretting how much bitcoin has gotten so costly. But when they had the chance like others they were all doubting Thomas's. Guys should know make use of the opportunities that they have. Even if it is to do research, they should do it so that they will understand that thing and get into it fast so that they will not miss an opportunity that could be difficult to get back.

[SPIDERMAN008]

If you only think about profit, that investment will never be successful, investment does not depend only on profit, but making the right decision on every issue involved in the investment makes the investment more effective. I think every investor should know his income and expenses well before investing. When the investor has a clear idea about his income and investment, he will be able to decide how much extra money he has left and how much of it he can use for investment. Patience is another important thing after starting the investment, there is instability in the market, but decisions cannot be made considering that, rather the objective should be long-term and instead of giving importance to the changes in the market during this long period, I think we should give more importance to continuous investment and ensure that the investment is maintained for a long time. Each of these things is important for investment.

But the reality is that a person invests only in the hope of profit. But I think that the purpose of an investor should be to start investing in Bitcoin through a proper planning. Where the thought of profit does not take him away from the proper planning of the investment. The purpose of investing in Bitcoin should be to make a profit and along with this, the mindset and ability to invest for a long time should be created.

In the case of investing in Bitcoin proper fund allocation should be made. Especially by investing with discretionary income one should invest in Bitcoin for a long time . As a result, there will be profit but the excessive thinking of the investor with a strong mindset will not hinder the investment in Bitcoin. He will not make decisions like panic selling or force selling too quickly.. So the risk of investing in Bitcoin will also be reduced. Since there is no grounded profit and it is not possible to predict when the price of Bitcoin will hit resistance, Bitcoin's value may remain stable or even go down for a long time, so Bitcoin may have to be held for a few years.

[Olatundespo]

If you can use all your time and money to make Bitcoin investment, you should also make sure that you have secure your wallet, don't do things that will make you lose your investment and lastly, learn to do research and read on why people makes mistakes and lose their investment, learn from the mistakes of other people that made mistakes to lose their investment.

We should learn from the mistakes of the past so that we do not repeat those mistakes in the future. There have been many cases of central exchanges being hacked in our past but we do not learn from those incidents. We have repeatedly been hacked by keeping our crypto assets in central exchanges. If we learn from the mistakes of the past then surely we are not likely to make the same mistake again. But we repeat the same mistakes we made in the past without being aware of it.

Be careful not to store your crypto on centralized exchanges. We see a lot of discussion about this on Bitcoin forum. If you buy Bitcoin through an exchange, you should store it in a separate, non-custodial wallet. Write down your wallet seed phrase and security key, not on any online device, and hide them in multiple secure locations.
Such thefts have happened in the past and can happen in the future. You should create your own security measures to keep your crypto assets safe.

[SDS11]

If you only think about profit, that investment will never be successful, investment does not depend only on profit, but making the right decision on every issue involved in the investment makes the investment more effective. I think every investor should know his income and expenses well before investing. When the investor has a clear idea about his income and investment, he will be able to decide how much extra money he has left and how much of it he can use for investment. Patience is another important thing after starting the investment, there is instability in the market, but decisions cannot be made considering that, rather the objective should be long-term and instead of giving importance to the changes in the market during this long period, I think we should give more importance to continuous investment and ensure that the investment is maintained for a long time. Each of these things is important for investment.

I agree with you. Many people enter investment only thinking about profit and how fast they will double their money. But like you said, it's not just about profit. If you don't know your income and expenses, you will end up investing money you are supposed to use for survival, and at the first small market shake you will panic and pull out. Knowing how much extra you have is key.

And patience is the main thing. Market is volatile, that is normal. If you are checking price every day and making emotional decisions, you will never grow. But if you focus on long term and keep investing consistently, that is how real wealth is built.

[Patrol69]

If you only think about profit, that investment will never be successful, investment does not depend only on profit, but making the right decision on every issue involved in the investment makes the investment more effective. I think every investor should know his income and expenses well before investing. When the investor has a clear idea about his income and investment, he will be able to decide how much extra money he has left and how much of it he can use for investment. Patience is another important thing after starting the investment, there is instability in the market, but decisions cannot be made considering that, rather the objective should be long-term and instead of giving importance to the changes in the market during this long period, I think we should give more importance to continuous investment and ensure that the investment is maintained for a long time. Each of these things is important for investment.

But the reality is that a person invests only in the hope of profit. But I think that the purpose of an investor should be to start investing in Bitcoin through a proper planning. Where the thought of profit does not take him away from the proper planning of the investment. The purpose of investing in Bitcoin should be to make a profit and along with this, the mindset and ability to invest for a long time should be created.

In the case of investing in Bitcoin proper fund allocation should be made. Especially by investing with discretionary income one should invest in Bitcoin for a long time . As a result, there will be profit but the excessive thinking of the investor with a strong mindset will not hinder the investment in Bitcoin. He will not make decisions like panic selling or force selling too quickly.. So the risk of investing in Bitcoin will also be reduced. Since there is no grounded profit and it is not possible to predict when the price of Bitcoin will hit resistance, Bitcoin's value may remain stable or even go down for a long time, so Bitcoin may have to be held for a few years.

Every investor who invests has a specific purpose behind their investment and that purpose is that they will make a good profit from this investment at the end of a period of time. But although everyone has the purpose of profit, not everyone knows the correct process of investment. For example, some investors start observing the market immediately after starting the investment and they expect to make a profit from that time, but when they see that the market is not changing as expected, they get excited and excited and sell their investment, but the real purpose of the investment is not fulfilled. Investment is usually made for a long time, during this long period the market will change a lot and there will be a lot of instability in the market, so it is said that it cannot be sold at that time, but one has to be patient and maintain continuity by trusting in the investment. I will never consider the activities of those who sell within a few months of starting the investment as investment, rather their activities are like trading.

[Achalugo BTC]

And that is why when investing in Bitcoin, you must first research and know Bitcoin, understand the risks involved with it, and you must make investment decisions by considering the risks so that there is no risk of making wrong decisions and the investment can be managed properly in any market situation.

Well said, doing research about Bitcoin, helps one to understand the risks involved before putting money. When one already knows the risks, they are better equipped to make the right decisions, and won’t panic when the market goes up or down. This will make them to also be careful and cautious when they receive any information, as they will ensure they verify all information before making use of it, that is what will help keep them on the safer side. Instead of just following hype blindly which can push them to make poor investment decisions.

[Queen Julie]

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.

I think you should make your intention more clear to him so he doesn’t misunderstand your advice as discouragement. Let him know that you’re not trying to stop him from investing but simply trying to help him to approach it with the right mindset.

At the end of the day, you’ve shared your perspective and the decision is his to make. Because you can guide someone but you can’t make decisions for them.

[Iconic_J]

You did the right thing by explaining this clearly to him, if he sees it as you trying to discourage him, that's fine because it saves you from future accusation or explanation when the investment does not yield like he expects.
People need to understand that there's a difference between business and investment and regardless of which one the person wants to go into the person should have a steady source on the side for immediate expenses while the business or investment grows.

[JoyceBTC]

I no fit count the good things wey this forum don do for me in term of acquiring knowledge,first when I join this space na only little knowledge i get about bitcoin but as time con dey go and I con read more of the bitcoin related topics from there my knowledge con dey expand.Any newbie wey wan acquire knowledge about bitcoin i go rate this forum to them because no be only bitcoin e go enlighten you rather e go enlighten you on bitcoin related issues wey concern politics and the economy.When I dey tell people say this forum don give me that sense of sharing my opinion with people around the globe and this forum don improve my writing skills,make person no underemphasize the advantage of belonging to a community like bitcointalk.

This one wey you talk na true talk, someone who is willing to learn a lot about bitcoin and is in this forum, is definitely in the right place because you will learn a lot, so many things I got to know about bitcoin was from this bitcointalk forum and as time goes, I’m still learning more.
Knowledge is power and to acquire knowledge as someone who wants to invest, research is necessary because it help one build the knowledge to avoid some mistakes in the future and this forum is also one of the recommended places to learn from.