Post
Topic
Board Beginners & Help
Re: investment advice?
by
coolcoinz
on 03/03/2023, 20:42:31 UTC
Take a break from investing for now because it’s most likely you would make the wrong choice, I don’t know how you learnt about Binance or trust wallet, I would guess because they are popular and you probably think it’s your best option.
I don't agree. Every time is good to get some bitcoin, you just have to be smart about it.

Let's say that you have 10k USD lying around, waiting to be spent and you have a steady income that allows you to cover your basic needs. Divide that 10k into a number of parts, like 10 times 1k each and dollar cost average by spending 1k every week, or every month if buying each week is too much for you.

Put the coins on a desktop wallet immediately, if you don't have, or don't want to buy a hardware wallet. Don't keep it on exchanges and don't use web wallets. I'm not recommending a paper wallet because it may be annoying to use for a beginner.

While buying, project a profit within 24 months. Don't check your balance every day, or even every week, it will only make you nervous. Forget about the investment, at least for a month or two, it will teach you patience.