Quote from: freedomgo on Today at 07:09:31 AM

Quote from: Ricardo11 on October 16, 2023, 09:22:41 AM

I think there is no need for newbies to start investing after knowing everything. Just knowing how to buy and hold bitcoins, you can start holding bitcoins. You don't need to know everything about bitcoin right now, you just need to buy now and start with safety. And then you slowly get to know everything about Bitcoin.

That's understandable, but it's not advisable to limit your knowledge of Bitcoin, especially if you're investing for the long term. When you invest in a volatile market like Bitcoin, you should expect fluctuations, and having limited knowledge can lead to emotional decisions that might cause you to sell your investment prematurely. This is one of the main reasons why investors who ride the bull market often end up selling their holdings during the bear market. The lack of knowledge can lead them in the wrong direction because it's no longer their rational minds guiding them, but their emotions.

In any type of investment, especially in assets like Bitcoin, which are high-risk, it's crucial to equip yourself with the right knowledge. This way, you can make informed decisions and avoid being swayed by your emotions. While others may panic and sell, you can stay calm because you understand the market's dynamics.

It has been observed and noticed that people who only buy and hodli bitcoin in a long period of time will have less risk of losing their bitcoin or selling at the time that is not of their will. This is among the basic concept of bitcoin that one don't need to read a cumbersome theory to understand this simple statement. It is as easy as, your preparing yourself on how much that you will use for your entry point and how much you can use for DCA weekly or monthly, based on your weekly or monthly cash inflow.

As a beginner you can start if a small amount since you don't have much knowledge on bitcoin but only the basic which can help your start your bitcoin journey. And as time goes on while buying regular, you can decide to study your investment deeper to know all aspect of bitcoin. It shows that you will learn faster than whoever that is seeking majority of bitcoin knowledge and understanding first. This is because there are some strategy that you will learn when accumulating that will suit your income base on the fluctuations in bitcoin price.

Since you are not planning to sell in a short period of time, there is nothing to learn much about the market because, you are using DCA to increase your portfolio, no matter the price of bitcoin at that moment. I can still tell you that there is nobody that can learn everything about bitcoin because, because everyday the technology is been upgraded with new features and the old bitcoiners will also learn this new development.

This is why your should start investing early than waiting to have the majority knowledge of bitcoin before investing. I believe that this is the best way for a beginner to start his bitcoin journey because time waits for no one, the earlier that you start investing in bitcoin, the higher chances you have of increasing your bitcoin portfolio with time. It is better to be a lowcoiner with the basic knowledge of bitcoin than a nocoiner with all the knowledge of bitcoin.