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I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.

It is good that you have convinced your family members to invest in Bitcoin but have you told your family that investing involves risk. If you haven't informed them about this, you should discuss it with them and not just Bitcoin investment. I agree if you are willing to invest in Bitcoin, look for money accordingly but you should think before investing and do proper planning and judgment analysis before investing. Many people like you are interested in investing in Bitcoin with the help of their families in the new situation.

It turns out that you have been investing in your bitcoins for months and suddenly the price of bitcoins has dropped, will your family help you continue your bitcoin investment or do you have enough opportunities to invest without their help. Prepare yourself to invest in Bitcoin in such a way that you can continue your investment properly even if there are hundreds of hurdles. Investing in bitcoin requires a lot of patience and long time which will take you to your destination.

Everyone who studies the world of investment must understand that in this world all investments have their own risks. It's just that there are certain levels of risk in each different investment field.

But basically the risks that exist in every investment field can be minimized by developing our knowledge in the field we are going to enter.

Trust me if we invest in property that is said to have low risk. But for us it can be very high risk if we don't understand and study it first before entering it.

For example, if we buy property in a disaster-prone area. Then it's the same as us throwing away our money. Because the price will continue to fall. especially if it is land prone to landslides and so on. Which even the previous owner would have left behind.

But when we understand it properly and study it carefully first. Then we can minimize the risk as small as possible. Because we already know which ones have potential and which ones don't. Which ones are worth entering and which ones are not. Because basically investment is about seeing potential in the future.

So now we apply it in Bitcoin. Indeed, Bitcoin is also an asset that has a high level of volatility because its price fluctuates. And yes, this makes many people say that Bitcoin has a fairly high level of risk. But actually, some things are true and some are not.
Because it depends on how deep one's insight into bitcoin itself. If someone can enter Bitcoin investment at the right time after going through a lot of analysis and he has seen the potential in the future. So he can minimize the risk of loss because he entered at the right time. that is, when there is a decline. And then he plans to get out when the bull market comes.

But for beginners who don't study it in more depth. So they tend to enter without taking into account or without careful investment planning due to limited knowledge. This can make the beginner considered investing with high risk. Because he has entered in a field that he is not good at. So the conclusion is high risk is for those who enter in fields that they do not study. And the risk is low for those who enter a field they have mastered.

Bitcoin investment is not like you think and you don't need to deep knowledge on bitcoin before you can invest and not run at loss. This is because, a new investor who just want to start his bitcoin investment journey is on a long term and when you are investing on a long-term, maybe 4-10yrs, you don't need any deep knowledge, but only the basic knowledge of bitcoin which is how to buy and send to your self custody wallet, precis a cold storage, since you are only accumulating and not selling.

There is no best time to buy for a new beginner in his long term bitcoin accumulation goal because he just started and needs to keep on accumulating bitcoin to his portfolio regularly using DCA method so that he can reach his bitcoin target overtime. This is why the DCA method is best recommended for beginners because it gives them the opportunity to buy bitcoin always irrespective of bitcoin price. What a new beginner needs to figure out is how much of his discretionary income that he can use to buy bitcoin that he can be consistent with, so that he can continue buying with such amount regularly without stopping, and at the same time build his emergency funds from the other part of his discretionary income because it is very necessary, to become a successful long-term bitcoin hodler. A new beginner can start investing into bitcoin and learn about bitcoin at the same time, because in bitcoin accumulation experience is the best teacher than mere theory. Also the time that he will delay in learning cannot be recovered, that is why those that are just starting should not waste any time but start right away as long as they have the money.

It is impossible to learn everything about bitcoin in just one year so learn is a gradual process, and there is no need to have majority of the knowledge, because as time passes by the price of bitcoin will not remain the same.

It is wrong for someone who has no knowledge about bitcoin to buy bitcoin and looking for advice from people for help. I think people who invest this way without having any knowledge are just desperate to get rich from bitcoin. It looks so unreasonable for someone to decide to invest on something that is unknown and without any understanding, that means the person just only care about profit and not about bitcoin. Someone who is really Interested to invest in bitcoin will go after knowledge first before proceeding of buying Bitcoin to invest.

Without knowledge buying Bitcoin is a waste because it will look so complicated to the person when their is fall in the market. Knowledge about bitcoin is not just about investing but how to use the right wallet and also helps to give good Understanding in securing the seed phrase. No matter the amount used in buying Bitcoin, no bitcoin if their is no knowledge on how to invest because their can't be magic to end up with a positive result by the end of the investment.

Frankolala is right.... Any new beginner to bitcoin only need to know the basic knowledge of bitcoin which is how to buy bitcoin from exchange and the best wallet to use and how to transfer bitcoin to his wallet. It is good to start investing and don't need anyone to advice him on his bitcoin journey before he buys. This is because he is investing and hodli for 4-10 years and above. During that period, those years are big enough for the new bitcoin investor to learn whatever he needs and that is why you are at advantage to invest as you learn because practical and theory goes hand in hand.

Theory will not teach you how to save money in the bank, you practice it. Theory will not teach you how to use the exact discretionary income to buy bitcoin regularly using DCA and how to control your emotions on bitcoin price fluctuations. It is traders or short-term hodlers that will run at loss if they enter the market with the basic knowledge of bitcoin. Buying and storing in cold storage wallet only overtime will not make you run at loss because as time passes on, bitcoin price increases in value and it is likely to continue like that.

So if you are waiting to get all the knowledge of bitcoin before you want to start investing, you will end up buying bitcoin expensive than this price and also accumulating little quantity of bitcoin compare to if you were investing and learning. Time waste for no man, and we keep in getting older everyday. About the seed phrase the moment you create your wallet, you would be advised to keep it safe from third party which is still practical.

I don't think that I have seen any investor who understands what investment is, and he wakes up one morning and decided he wants to invest in bitcoin without him asking someone or go to the internet to see how he learn about bitcoin and he will only focus on how to buy and store because that it his plan to invest, and after buying he can now have full interest to learn more about bitcoin because he has already invested and needs to keep his investment safe.

You make a lot of sense here, it is very bad that people always feels like they need all the basic knowledge before making investments and these are people that maybe don't read news or doesn't have much exposure about the things happening around them because gone are those days when people were so scared of announcing that they are into bitcoin and are making profits from their investments. It is not bad to seek for knowledge while trying to invest in Bitcoin but the wisest decision is to buy and hodl while still seeking to accumulate more wisdom that will guide you all through your investment periods just like you said that being too theoretical without putting those theories in practice doesn't make any sense that is why beginners are advised to buy Bitcoin then sought for more knowledge.

Bitcoin is a high volatile asset and if you want a complete conviction before making investments as a beginner you can lose interest because by the time you must have gotten all the knowledge you required by then the price of Bitcoin must have skyrocketed to a point that may be difficult to buy because if you want to buy at that point you won't acquire much and to maintain buying using the DCA will become so complex due to the high price.

Every one wants safety for their investments but you can't ask for safety when no investment have been made so it's after you must have made accumulations that you will start asking for how to safeguard your assets because it is just almost the same with saving money in the bank but the clear difference is that with Bitcoin investment your investment can reach it's peak in the long run but saving money in the bank for a long time is just accompanied with little or low interests.

Crazy thoughts that they only need basic knowledge for their bitcoin investment since this could make them missed out something important to consider as an investor. Also provably they cannot create a good plan especially on when they sell since this is important to know that's why we should seek up for more knowledge by considering reading up the news or any factors that can expose us more on other bitcoin activities so that we could learn more.

Bitcoin is really a high volatile asset that's why we need to have updated knowledge about it so there would be no fuds scare will happen since there would be a lot of that which challenge our belief and patience so its good for us as an investor to consider all things and try to learn new things that can help us build our confidence more into bitcoins.

All of us want a safety investment but we can't find that since if someone offer you safe and 100% you can gain a profit then provably its scam. But in case of our bitcoin investment we can do something and ride up with good ideas also with knowledge shared by a lot of people then for sure that it can help us build certain strategies that can help us on our long term accumulation journey with bitcoin.