Post
Topic
Board Beginners & Help
Merits 3 from 1 user
Re: First buy Bitcoin as a newbie, good way to start.
by
Ojima-ojo
on 14/11/2023, 21:31:33 UTC
⭐ Merited by The Sceptical Chymist (3)

So if you have the money to buy some Bitcoin,  why not buy first and thereafter learn along the way and keep practising the few things that you learn, e.g DCA approach, this approachable helped a lot of newbies to be able to have the right mindset and accumulation approach towards bitcoin, and they can accumulate a good amount within a short space of time, and also building a sustainable knowledge that helps you to have a better understanding of the market and to make good analysis.
The information you are trying to pass is for the newbies to buy Bitcoin and hold before the learn about what Bitcoin really entails? I don't think this is a good idea. Like you know that there are different Blockchains and if anyone make the mistake of sending Bitcoin to another Blockchain, do you know that the coin will be lost forever?
If you have read through the entire ops, you would have noticed i mentioned that the beginners should have a personal bitcoin wallet, so if i already mentioned, custodial wallets what then bring the risk of sending or storing their assets onnthe wrong blockchain, this is must likely going to be the least expected risk, because as a beginner you first contact with bitcoin should be about wallets amd wallet securities because those two are your backbone and reason to hold those assets innthe first place.


So sure i already considered that possibility also to becoming the resultant risk for potential newbies, and that was properly covered in the body of the discussions.
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If you know this then why would you advise newbies that do not know about about how Bitcoin works or cryptocurrency to buy Bitcoin and hold when it is obvious that they can make silly mistakes of sending the coin to the wrong wallet. The best approach is to learn about cryptocurrency so that one can be safe when handling wallet and keeping one coins safe. Those who don't understand the market might be lured by scammers to send their coins or get hacked by mishandling their wallet address.
I mean no offense but I will have used your opinion but not when I have already considered every possible risk and included whatever the newbie may need in the form of a guide in the ops.