that is why i always advise newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .
Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.
So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.
Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.
Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.
I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.
As a newbie in bitcoin investment, what you need is only a basic knowledge of what you have decided to go into which include, choosing a wallet, knowing how to buy, having a discretionary income and aiming at long-term (initial 4 to 10 years). This would allow you kick off your bitcoin investment while also learning the details as you progress. Bitcoin is a complicated asset which you cannot study enough due to its characteristics, ranging from it's limited supply to its Volatility. This would allow you not to waste more time waiting while opportunities pass by.
Sometimes newbies are confused about questions like; if I don't learn everything about bitcoin investment, how will I be sure that I am not going to loose all my money? In that case I think the necessary initial confidence is to come from the person who is about introducing them. I would like to chip in something here, when introducing bitcoin investment to someone who's a novice or have had some Ponzi schemes scam experience, it is important to not that at first he may not want to admit that bitcoin is not a Ponzi scheme. So it's advisable to remind him that you gain nothing for introducing him neither would you loose anything for not introducing him. I have tried this format and I can tell you that it saved me some energy and delivered the information faster. Sometimes people believe that you are only introducing them because of what you stand to gain which is not true.
that is why i always advise newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .
Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.
So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.
Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.
Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.
I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.
Getting started is important.. and so no one wants to lose money, so likely they have to figure out whether they have $10 or not and they have to figure out from where they are going to buy their first bitcoin.. so if it is on an exchange or something else, they may well have to learn how to set up the account or perhaps if they are getting their first bitcoin from a friend, then they have to figure out where they are going to store their first bitcoin without losing it...
Other things about bitcoin and their cashflow management they can learn as they go, and surely if they already know that they have poor cashflow management skills, then they still have to figured out whether they have $10 or not, and if they make a mistake about their actually having the $10, then they will have to suffer the consequences of any losses that they incur, so they should temper their actions in accordance with the knowledge that they have, since none of us should want to put our money into bitcoin and then lose it right away because we either did not have $10 to spare or because we don't have enough knowledge about choosing which kind of an account to create in order to start to accumulate bitcoin through such account.. including if that exchange is relatively safe, which we might not really know the answer to that either, yet it still might be acceptable to learn about the exchange as we go and limit our initial transaction until we learn more about various transactional basics...
and then another question may well come up related to our ability to continue to buy $10 or more every week, and if we don't have an income, we might not be able to continue to buy bitcoin until we get more funds coming in, including we might need to figure out how much money we have available each week after accounting for our expenses... In the very beginning cashflow management questions are likely similarly relevant as compared with what we think about bitcoin as an investment as compared with other places that we might choose to place our extra money. See my list of
9 personal factors, and what we think of bitcoin is just one out of the 9 factors. We do not necessarily need to know the answers to all 9 factors in order to get started, but it might be nice that we have some ideas about them and that we might coninue to look into them if we plan to contnue to invest into bitcoin on a weekly basis or some other periodic timeline.
Having a source of income is a crucial first step in bitcoin investment. It does not only allow you to invest regularly, it also helps you hold your bitcoin stash for a long time without premature sales. I don't think that investing when you cannot sustain it would be very advisable since this is the beginning of bitcoin gambling. When a person invests without having what he's doing, he's only monitoring the chart to see that it has appreciated before he withdraws it. Appreciation may happen and depreciation may also happen. This is why long term holding remains the best and as a newbie, long-term holding won't be very possible when you don't have anything that gives you a source of income.