‎ Why Understanding the Technology Matters Before Buying

[FrankoKool]

Going deep into Bitcoin technical aspect is not completely necessary when come to buying bitcoin.  Personally , understanding the technology will help you build more confidence in Bitcoin . Like you said many don’t really know the main purpose Bitcoin was created the first place . Being familiar with how Bitcoin works can also give you an edge in other areas, especially when it comes to security, self-custody and understanding what you actually own (Decentralize) .

When come to buying bitcoin . What you actually need is proper planing and good market insight too , understanding the market and also being familiar with historical data , knowing your risk tolerance , can play play major role  in buying bitcoin or how you approach your bitcoin accumulation.

You said it all, in addition, bitcoin investment is not an avenue for quick money because some misunderstood it to Ponzi where you invest 2 to take 10 within a space of 2weeks.
Bitcoin investment is a long term investment which can take more than you expected. That's why you need to understand how it works,when and how to invest,ask questions from those who have more knowledge and what you can risk(Risk management)

[Asiska02]

You said it all, in addition, bitcoin investment is not an avenue for quick money because some misunderstood it to Ponzi where you invest 2 to take 10 within a space of 2weeks.
Bitcoin investment is a long term investment which can take more than you expected. That's why you need to understand how it works,when and how to invest,ask questions from those who have more knowledge and what you can risk(Risk management)

I sometime feel that bitcoin investment is not best described when people keep saying one should invest only what they can afford to lose. The statement is already referring to that you may face potential loss in the investment. The fact still remains that bitcoin investment is the only investment that you’re assured of making profit from after investing for the long term, not a get rich quick scheme avenue that we see in most altcoins and investors eventually face losses when they invest into them.

The transition of bitcoin from its inception has already explained explicitly what bitcoin is all about, you don’t need to panic and fear of meeting with losses as a result of the market not increasing in price. Bitcoin is on an uptrend trajectory, and so shall it be as long as the current still exists.

[Swift_tr]

If you don't understand Bitcoin and you just decide to buy randomly there are different ways this could end up.
For instance buying high then all of a sudden the price falls, automatically you'll feel like you just bagged a loss and will not recover the loss because you didn't properly understand how bitcoin works. For those that have the knowledge, they will simply hold while others would get scared and self off what's left of their bitcoin to avoid further loss.
This is one of the major reasons why you need to learn and understand bitcoin before starting your bitcoin investment.
Bitcoin isn't an overnight investment that yields tons of instant profit but one which when held long term with a good strategy would yield consideration profit and if you use the DCA method could definitely change your financial status.

[Obulis]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

[Son Of Blockchain (SOB)]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

Yes because it can be done simultaneously, waiting to learn everything is same as procrastinating, Bitcoin is volatile and also too complex, moreover knowing how to buy and where to buy from is not something very tough to comprehend so if someone understands that and have the discretionary funds figured out it's best to start buying and learn other stuffs in the process.
 Moreover the best way to understand something is by putting it to practice, someone can learn the process of driving a car but driving it make it easy to understand how different parts function, likewise buying and holding Bitcoin helps an investor understand what it takes to be an investor.

[Agbam]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

Yes because it can be done simultaneously, waiting to learn everything is same as procrastinating, Bitcoin is volatile and also too complex, moreover knowing how to buy and where to buy from is not something very tough to comprehend so if someone understands that and have the discretionary funds figured out it's best to start buying and learn other stuffs in the process.
 Moreover the best way to understand something is by putting it to practice, someone can learn the process of driving a car but driving it make it easy to understand how different parts function, likewise buying and holding Bitcoin helps an investor understand what it takes to be an investor.

While I agree with the getting started before furthering on the knowledge aspect of bitcoin, I think the buying car analogy is wrong or not properly put, you can say; what’s needed to buy a car is just the money to buy the car, then knowing about the functionality of the car and how to drive comes after that way it’s more relatable to buying bitcoin first before you can start understanding technical matters or further learning.

[Fiasem20]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

Yes because it can be done simultaneously, waiting to learn everything is same as procrastinating, Bitcoin is volatile and also too complex, moreover knowing how to buy and where to buy from is not something very tough to comprehend so if someone understands that and have the discretionary funds figured out it's best to start buying and learn other stuffs in the process.
 Moreover the best way to understand something is by putting it to practice, someone can learn the process of driving a car but driving it make it easy to understand how different parts function, likewise buying and holding Bitcoin helps an investor understand what it takes to be an investor.

The thing be acquiring knowledge no dey stop for one spot,even oyibo man talk say we learn everyday.So if you say you wan dey learn bitcoin and the technical knowledge before you start to dey invest then you go dey procrastinate till further notice.Nobody dey say acquiring knowledge no good oh,infact when you no know people go easily mislead you but for the crypto space you fit still dey hold your coins make you still dey learn everything wey you wan know about the crypto space.Some people when dem don learn everything finish dem go con feel like say everything neva dey in order to start na that one be the problem wey many newbies wey dey interested for the crypto space dey face,remember say bitcoin supply dey limited you fit dey wait make dem mine all the 21 million bitcoins,time no dey to check time start right away.

[RockBell]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

Yes because it can be done simultaneously, waiting to learn everything is same as procrastinating, Bitcoin is volatile and also too complex, moreover knowing how to buy and where to buy from is not something very tough to comprehend so if someone understands that and have the discretionary funds figured out it's best to start buying and learn other stuffs in the process.
 Moreover the best way to understand something is by putting it to practice, someone can learn the process of driving a car but driving it make it easy to understand how different parts function, likewise buying and holding Bitcoin helps an investor understand what it takes to be an investor.

For some who are interested in just buying and then selling, they don't really need to do much because the only thing expected, as far as I'm concerned, is for you to know how to buy and then sell. There is not much work to be done when it comes to buying and then selling, but even if it is easy to understand, we also have to understand that we still have to learn because we need to also understand certain things after learning how to buy and sell. The holding part is what even makes you an investor because it is not easy, and this is something we have to be prepared for so that when we start holding, we wont want to sell anything.

[Pablo-wood]

‎Knowing and understanding all this go help you alot especially when buying to avoid mistakes and losses knowing it's unreversible.
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We no really need know everything to start, the major thing na to dey willing and open to learn. Bitcoin technology is broad and no  one understands it all at a go. It's a continuous learning path that requires consistent studying and researching to stay updated with the trend and improvement proposals. Buying doesn't have much complexity the issue begins with ensuring our purchases are safe. One can start simple and as the keep upgrading their knowledge and grow in experience the can then expand their security consciousness.

[Cgrexp]

If you categorize Bitcoin investment knowledge, all what you just pointed out are actually supposed to be what should follow after taking the step of changing your balance to any amount of Bitcoin. While gradually building your portfolio, complex learning can start and so it's not reasonable to wait until you learn everything before starting.

Just like buying a car, learning how to drive a car is enough for you to buy a car not to wait until you understand the common signs a car gives for one condition or the other before you go on to buy a car because as you start using your car those conditions will be properly understood.  So you see, no need waiting to understand Blockchain technology before starting Bitcoin investment because it's what you can get while already hodling Bitcoin.

You shouldn't wait to learn everything before you start investing in Bitcoin. There is no end to learning. No matter how much you know about Bitcoin. There will always be new things to learn over time. It is unrealistic to become an expert on every aspect of blockchain technology and security. It may be more effective to start investing according to your ability with the necessary basic concepts and increase your experience and knowledge over time. You don't need to be an expert in technical knowledge to start investing in Bitcoin. The main goal of a new investor should be to start investing according to your financial ability be aware of the risks and gradually increase your knowledge. Waiting to learn everything completely can delay starting to invest. It is not necessary to learn everything before starting. It is more reasonable to start with the basic concepts necessary for investing. And learn complex topics as you gain investment experience.

[Johnlomape]

Alot of people dey like to  invest in Bitcoin because of watin then hear about Bitcoin, the price and the growth, but na only few people dey take their time to really understand block chain build on.
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‎Bitcoin dey operates on a blockchain, a decentralized digital ledger way dey record transactions. Rather than being controlled by a single or central authority, this network is maintained and the transactions is already verified by nodes.
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‎Transactions dey secured especially when you use cryptography.
‎Another thing na Bitcoins proof of work  e dey help the system protect network and confirm transactions.
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‎Cryptographic keys control your Bitcoin and your public address can be shared to receive Bitcoin, meanwhile your seed phrase is your personal asset to keep secretly because it gives control over your money.
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‎Knowing and understanding all this go help you alot especially when buying to avoid mistakes and losses knowing it's unreversible.
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I really appreciate your time to come up with this topic to help newbies understand why they need understand Bitcoin and blockchain so dey no go dey listen to people wey go fit decieved them because of lack of knowledge and information about watin Bitcoin really be and how people go fit benefit from am. People wey no know watin Bitcoin be go fit become victims of scammers because anybody fit deceive them to collect their money and make them think that dey dey try help them. People wey dey invest in Bitcoin go benefit well well when the right time appears.

[Nwada001]

While I agree with the getting started before furthering on the knowledge aspect of bitcoin, I think the buying car analogy is wrong or not properly put, you can say; what’s needed to buy a car is just the money to buy the car, then knowing about the functionality of the car and how to drive comes after that way it’s more relatable to buying bitcoin first before you can start understanding technical matters or further learning.

Maybe the explanation is going on in the area of only a few buying a car without knowing about cars, as they can easily buy the car and get it spoiled long before they learn how to drive it, but I also agree that’s not the right way to define Bitcoin buying and holding it since they are both in different areas; one can be held without knowledge, while the other needs at least basic knowledge.

[Homemade-IQ]

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‎Knowing and understanding all this go help you alot especially when buying to avoid mistakes and losses knowing it's unreversible.

My brother, you no need to know all this thing you talk about before you fit invest in bitcoin because them no dy necessary, although no knowledge is a waste as oyibo man talk am, but you no need all this as an investor wey wan hold for a very long time because no be them go make you hold your asset strong as you think.

Wetin dy more important after investing na to put down emergency and reserve funds to protect your Bitcoin investment, so that emergency no go make you sell am when you no wan sell, so e dy important say  you know the difference between need and want, like wetin an investor need, and wetin them want.

[Crypto_Timothy]

This is one of the major reasons why you need to learn and understand bitcoin before starting your bitcoin investment.
Bitcoin isn't an overnight investment that yields tons of instant profit but one which when held long term with a good strategy would yield consideration profit and if you use the DCA method could definitely change your financial status.

very correct, you cannot simply just wake up and buy bitcoin, even if you have the money because alot of things can go bad especially when the market falls like you said, anyone who rushes into buying a coin in general, when the market appears to be taking a fall and just going down, people will for sure Panick, simply because you dont understand whats going on and of course when we make decisions simply because we are confused, of course they will be bad ideas. Nothing will ever beat personal research on the matter yourself and you adopt someone into Bitcoin that way, where you encourage personal research at all times, you will be doing the person a very good deed.