Post
Topic
Board Beginners & Help
Re: I hope I'm doing the right thing.
by
Asuspawer09
on 10/05/2024, 23:56:15 UTC
How did you guys invest in bitcoin as beginners. What was your experience with the market volatility? A lot of people talk how investing in Bitcoin is good but risky, i don't want to rush to invest  bitcoin. I need to be very sure of what I'm planning to go into. I don't know if I am making the right decision or I'm too sluggish to invest. I'm not really convinced maybe because I don't know much. Do you think this delay is good for me? I believe it is good for one to be  sure and understand anything that involves money.

As long as you have the knowledge of investing and you think that you can handle it already start buying Bitcoin already, In my opinion, it is not great to delay buying since you're not really just going to buy a huge amount of Bitcoin in just one buy, most of the time we are going to buy small portion and start to accumulate Bitcoin. I mean its the most efficient way to do it is dollar Cost Averaging if you're familiar with it, start buying Bitcoin probably weekly or monthly consistently so that you can accumulate Bitcoin, it doesn't matter what is the price right now because as long as you are going to hold long term, and only sell on the top of the market you could always make a profit out of it. So for me start buying Bitcoin right now, Right now is the best time to start.

Make sure as well that your going to put it on a non-custodial wallet, the easiest wallet that is probably going to be suitable for newbies, is Electrum in my opinion as a newbie it is going to be a good start since it's easy to install and convenient for newbies, secure as well, open source etc. I mean just avoid putting your investment on a centralized platform like an exchanger, because you just don't have control over your investment on that platform at any moment they could freeze your account and there was nothing you could do about it, it already happened to me back in 2018 I think it was a local crypto wallet which is quite famous here in my country, I mean there was only a few choices and that time its the best wallet and exchange for convenient but they lock my account because I have transaction came from suspicious wallet which is mostly came from casino that time.