Having a good knowledge when it comes to Bitcoin accumulation is actually good and nice . But not accumulating due to the urge acquiring more knowledge is not actually nice , for instance most of us started our Bitcoin accumulating and holding while learning, and the funny thing is that we are still learning. So what am saying is that we don't have to wait till we have gotten some deep knowledge about Bitcoin before thinking of investing and all that. But one can just start accumulating without having the knowledge on how Bitcoin work and what's all about , and how to purchase and secure it , that's where having the basic knowledge first comes In .
And I believe that they are alot of folks here with that same mindset of wanting to gather some deep knowledge about Bitcoin before starting their Bitcoin investment journey, and most of them will only endup regretting not starting their accummulation and holding on time , Because the right thing to do is as one is accumulating more Bitcoin, as same time he or she should focus on learning too.
Things you don't need to overlook before going to bitcoin investment is have acquired the knowledge first, when you are curious to accumulate bitcoin, theirs is possibilities that after accumulating your bitcoin the price might neither crash or not, that is while you need to have standard knowledge of bitcoin before you think of accumulating of bitcoin, some persons seems how skyrocket the price of bitcoin is moving now and that prompt them to think that investing in Bitcoin is the right option...bitcoin investment is not the way someone can get rich and when you are investing In Bitcoin you have to calm down and study well, many people come up with bad idea in bitcoin due lost they experience after been lose in bitcoin investment neither short-term or long-term investment.
The question every beginner must ask themselves if they really want observe before investing is I'm I in for the long-term or short term investment.... I wouldn't say more than that to avoid repetition
it should be a task to beginners to ask such questions, because for me I know quite well that you want to become successful you most ask others the pathway that makes them to be successful, so I know very well that what makes people to join bitcoin investment without making research is out of desperation, while is good to advantages and the disadvantages of something you wants to venture into it before you enroll yourself.
Gaining knowledge before going into any investment is very important, without knowing the basics of an investment before going into it can amount to failure, also taking hasty decisions before involving in any monetary ventures is a danger and can make the person to lose their investment funds. Before going into Bitcoin investment, it is important to understand how it works, knowing the basics like the seasons, bull run and bear run, what can trigger price to pump and dump, what halving means and how to protect your wallet from hacks, also how to secure your seed phrase, this basic knowledge will prepare a newbie investor on how Bitcoin works.
I like the phrase "buy the dip and hodl" it will direct newbies and experienced investors on the best time to buy Bitcoin, so that the person will not wait till another halving, to see a new ATH price, before they can make profit, buy during bear run and sale during bull run. So the best time to buy is when price dips, and sale when price surges, also the best option is to do DCA method, keep buying irrespective of short term pump and dump, then sale in the bull run or keep hodling.
Gaining Bitcoin knowledge because you want to start investing in Bitcoin is good, but it's not important to get Bitcoin knowledge first, because you can learn as you are investing. The important thing is getting started as soon as possible. Immediately you have the money to start your investment. The more you wait to finish learning about bitcoin investment the more opportunities you miss.
The way to understand how the Bitcoin market works is when you have started your investment. And one can also not know the future price of Bitcoin even if the person invests in Bitcoin, because nobody controls the Bitcoin price, so even learning about Bitcoin can not make you know the future price of Bitcoin.
Like you just talked about the wallet and all that, the best way to protect your wallet is to write down your seed phrase down then safely keep it anywhere that is safer for you and make sure you don't connect your bitcoin wallet to any random sites you come across on the internet or from your friends.
this basic knowledge will prepare a newbie investor on how Bitcoin works.
What I expect a crypto newbie to know is just the circles of Bitcoin.
If you are trying to go for the long run, I believe that you should try and remove your mind from ATH or bullrun. However, for you to profit largely by Bitcoin investments, you have to make sure you can pay a decent amount of money every week or month. DCA is a strategy that gives you an opportunity to accumulate and hold for long terms without being affected from any corner both from your monthly expenses. For one to use this DCA method, you have to make sure you are a salary earner or a business person, so that you will be able to get money on a weekly or monthly basis. Even if you are being paid $250 per month, you don't have to first of all deposit for Bitcoin first. It's a type of method that allows you to invest in the amount that remains in your possession after your expenses have been paid.
Let's take, for example, your salary is $250 per month and your expenses every month are $100, then you remove $100 from $250 and $150 will remain, then you remove another $50 for emergencies. $100 will remain. With that $100, you can remove another $50 for DCAing in Bitcoin and the remaining $50 can stay in your hand during the time. As you are DCAing with $50 per month in 5 years your Total amount will be $3000 (that's if you do it constantly) and since you are a salary earner or a business person there are also a possibility that as time goes on you might be promoted and your salaries will be topped up, so with that you can possibly increase the amount you DCA monthly.