Post
Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Topic OP
Consider all this before starting your Bitcoin journey.
by
Chiomaobi
on 12/06/2024, 14:05:57 UTC
⭐ Merited by Justinapeter (1)
Before I start Bitcoin investment I been take my time and I also consider many things and those things way I consider really they help me for this my Bitcoin journey and I go like to share am to people for here especially to my follow newbies way won start Bitcoin investment.
Things way you go need to consider before you start are as follow.

1. Have knowledge about Bitcoin.

No rush, take your time learn about Bitcoin, how e they work en underlying technology ( Blockchain), the risk and rewards way they inside also learn about wallet ( where them they store Bitcoin) where and how you fit exchange them, the measure way you fit take secure your wallet.

2. Understand Bitcoin volatility.

Bitcoin na something way people no say en price they volatile, which means that en value fit rise and also fall in price, so you need to prepare your mind say price fit change at any point in time.

3. Managing your risk.

You need to assess your risk tolerance and you need to also assess your financial situation before you invest. You go need to consider how much way you fit invest and also how deep the lose fit dey.

4. Look for a teacher or mentor.

As person way they start newly you need to get person way go they guide you on how to carry on your investment. You need to consult person with more higher experience about cryptocurrency.

5. Secure your Bitcoin.

Make sure say you protect your Bitcoin very well, you need to use wallet way you know say they very good like trust wallet, Binance e.t.c and make sure say you keep your password only to yourself.

6. Beware of scam or fraud.

No say scam full for online na why e no good to share your password online or connect your wallet to sites way you no too understand. No carry your Bitcoin go invest on any thing online if you go even invest verify the credibility and legitimacy of that investment platform.

7. Be patient.

Bitcoin na long time investment and you need to carry patient mindset use follow Bitcoin because Bitcoin no be Ponzi scheme way you go just enter carry money come out quick.
So you need to carry the mindset of long term investment for mind when investing.