Quote from: Nothingtodo on July 09, 2024, 11:23:01 PM

Quote from: Sky_T on July 08, 2024, 12:27:03 PM

Before getting started with Bitcoin, there are few things you actually need to understand. First you need to know that the Bitcoin ecosystem allows you to exchange and transact money in so many different ways than you normally do. so before using Bitcoin for any serious transaction, you should be well knowledgeable about how the Bitcoin system works and be fully aware of the problems associated with the fiat system.

Also note the following
1. Note that Bitcoin transaction are irreversible. Therefore one need to be extra careful while doing transaction.
2. The price of Bitcoin is still volatile i.e it does not have a fix price for it market price.
3. It requires your own effort to protect your Bitcoin.

People who invest in Bitcoin must be aware of all the things you provide or they wouldn't have invested in Bitcoin. Yes, but sometimes the issue of Bitcoin wallet hacking comes up, so before investing in Bitcoin, one must gain knowledge about wallet security. Yes, but before investing you should not invest at a fixed price because in this case you have to invest by adopting the DCA method.

They have a variety of people who are investing in bitcoin; some don't understand the market and will simply invest because others are making money from it; they don't believe you need to understand the market before engaging in bitcoin investments. @Nothingtodo stated something essential since I've noticed someone who just jumps into investments without knowing if they're volatile or not; I believe he just learns how to buy them and keeps them on an exchange while waiting for the coin to climb in value to be profitable. And I am sure he will effect him when he is attempting to sell the coin because they have a lot of scammers that can cheat on exchanges when selling is coin, because some confusing people telling to owner that they have realised the asset and if you are newbies you didn't understand the market you can probably release your coin thinking that your money is already in your account that is why is important to know about something before putting your money on.

That is a good start for investing in bitcoin by utilizing the DCA approach. He will help you reduce your risk, and I am sure they have many people who haven't used the DCA plan for their investment, because some in didn't favour them and they try to used there on method to invest and probably they can be profitable.