Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:
Your points are right but very impulsive.
Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.
I don't think you really understand risk management very well as regards bitcoin holding or will I say that bitcoin investment has gone beyond receiving such level of emphasis on risk management. Or do you mean how to manage other areas of responsibilities to avoid risking your bitcoin over any slight unforeseen circumstances which could have been tackled with the emergency funds. Bitcoin is a very less risky venture and does not require reading a whole template to understand, all you need is just, buy and buy and hold for long term and you will reap it at maturity.
yeah I was trying to point out other areas of responsibilities to avoid risking thier bitcoin, because some beginners may be attempting to invest for short term profit which we know that short term investment comes with alot of risk so they need to understand this to enable them follow the main procedure I mean chasing the long term goal.
Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.
Investing by discretionary income is something any investor who aims at the future should look at. When you intend holding for long term, you also do it without stress. Investing with
Not all your discretionary income but only a percentage of your Discretionary income would make you invest only what you can hold for long. Whoever earns any amount should learn to build his emergency funds first thing.
I agree with you on this one, an Investor is supposed to be putting some portion of his discretionary into bitcoin, the same thing applicable to those investors that would like to apply some aggressiveness, is advised not to over step your boundaries but to maintain boundaries to avoid stress. And yeah, is very important to build our emergency fund quite on time, even though some people will want to get started before looking for a way to build thier emergency fund, But it shouldn't take us more than 2 months before we start looking for a way to make it available.
Honestly speaking I don’t think there is anything wrong if an investor choose to invest all his discretionary income into bitcoin, considering that you have taken care of your expenses and you’ve an emergency and reserved funds, if I choose to invest all my discretionary income into bitcoin, instead of using it to extravagance lifestyle of buying cloths and during drinks and cigarettes and clubbing, at this point of my accumulation stage I think there is no need for such lifestyle.
I would prefer using my discretionary income to buy more Bitcoin and be more aggressive instead of using my discretionary income for some unreasonable and unrealistic activities.