Quote from: SuperBitMan on Today at 10:24:14 AM

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Quote from: Umulala-alala on March 06, 2025, 10:23:22 AM

You can aswell get those proper knowledge when you have already started buying bitcoin because i believe you will know more when you are into proper with your little knowledge at first, bitcoin investment is not too hard to know as people may think first thing is to get started when your Discretionary income is ready to avoid procastinating while trying to gain proper knowledge.

It's not too hard, yet people may be inclined to drop their bags even if they see even a bit of red.

To avoid this, knowledge should be built up beforehand.

Building up bitcoin knowledge before you start investing in bitcoin will not even save you from not selling off your bitcoin portfolio if there's a dump in bitcoin price. Even old investors who have built up knowledge about bitcoin ended up selling off their bitcoin portfolio before a dump could happen because they invested in bitcoin in the wrong way or aggressively, which put them in the position of not meeting up with their daily demands all the time. So even though you have good knowledge about bitcoin or not, before you start to invest in bitcoin, if you want to hold your bitcoin portfolio for a very long time, you have to invest in bitcoin in such a way that it will not stop you from sorting out your daily expenses all the time, and for you to do that, you have to use your discretionary income or the money you can afford to lose to invest in bitcoin since the money is not allocated to solve any of your daily expenses.

We can't also underestimate the importance of building up the right knowledge about Bitcoin people who build up the right knowledge about Bitcoin always end up holding longer to there Bitcoin while those who had the wrong knowledge end up not succeeding in there Bitcoin investment, some people feels that building or acquiring bitcoin knowledge is not important before going into Bitcoin investment but it is more important and is the key to having a successful Bitcoin investment the reason why I'm saying so is because of something that someone did through this latest dip that happened in Bitcoin when he started accumulating Bitcoin Bitcoin was $98k so through the dip that happened when Bitcoin came down to $80 plus even close to $70 plus he became scared and sold of all his Bitcoin because according to him he felt Bitcoin was about to crash and when he saw Bitcoin went up again he became confused and he was now educated of the dip that always happens in Bitcoin, so it is very important to gain knowledge about Bitcoin if not you will make a big mistake you will regret later in the future.

Someone can start Bitcoin investment with only fundamental knowledge. Later on, they can further their understanding of Bitcoin. The basic knowledge needed is that Bitcoin investment is to know that bitcoin a volatile asset. Secondly, one should know how and where to buy Bitcoin to avoid scammers and understand the concept of wallets for investment.

With that knowledge, I believe it is okay to start Bitcoin investment. Waiting for deep knowledge about Bitcoin should be a gradual process, as waiting too long could lead to missed opportunities. I feel that trying to gain comprehensive knowledge before starting often makes people hesitate or give up on investing in Bitcoin.

However, if someone begins investing in Bitcoin with basic knowledge, it can motivate them to learn more about it. One crucial thing people should remember is to invest only what they can afford to lose. This mindset helps them avoid panic if Bitcoin decreases in price. Since the money invested is affordable to lose, it reduces fear and allows them to handle the risks better.On the other hand, even with proper knowledge, if someone invests more than they can afford to lose, they may panic and sell some or all of their Bitcoin during a price dip.