5. Risk Tolerance: Understanding your risk tolerance is crucial. Some are comfortable with Bitcoin's volatility, while others may find it too nerve-wracking.
If you're not ready to take risk, then don't even go close to making a bitcoin investment because you may get loosed at the process when your targets and expectations aren't coming, bitcoin is all about being patient and having the basic understanding on how the network operates with price and value determination, this is not just like the traditional fiat currency that we can hodl anyhow or spend.
We need to know and understand the basics foundational requirements for using a digital decentralized currency like bitcoin, this will take us far away from risk we could have taken through some of the mistakes we are liable to make, there's risk in dealing with bitcoin but you can choose not to partake from it if you understand how.
This is something that you should really be having on which you should really be having that kind of tolerance when it comes to risks since you wont really be finding yourself to be that impulsive on the time that
you would really be making out such investment step or decision since you are really that fully aware and get prepared in speaking about potential loss of money once you do made out that bad decision.
We do know that it wont really be that something that inevitable if we do speak about the risks yet every investment does have that corresponding risk. It is really just that on how someone would really be able to embrace it out and make that immediate step or action once they would really be able to encounter.
One thing that you should really be minding on is on never ever make yourself that be greedy and always be that realistic when it comes to investment approach.
Set goals which are that viable and realistic than those out of this world kind of expectation.