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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.I frequently tell people that I don't give any shits if they buy bitcoin or not, yet I am letting them know for their own good, and they can choose to look further into bitcoin and/or to get started or they can just wait until later (or not at all). People tend to be reluctant, even when given them sufficient information and even being somewhat available for them to ask questions.. yet at the same time, they have to do the work, and I am not going to sit down for several hours with anyone because there is a lot of necessity for self-directed investigations into the bitcoin matter and even into just figuring out how to get started.
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Having a source of income is a crucial first step in bitcoin investment.
That is not true. To get started all you need is discretionary funds. Of course, if you are going to continue, then it is nice to have a steady income, but it is not necessary to have a steady income in order to invest in bitcoin.
It does not only allow you to invest regularly, it also helps you hold your bitcoin stash for a long time without premature sales.
Of course, it is better to have more income, but it is not necessary to get started and it is not necessary to be able to continue to invest whenever income comes in.
Surely if a person has more income that is better, but it is not necessary to have steady income to invest in bitcoin.. .They just as best as they can and when they can whenever they have discretionary funds available.
I don't think that investing when you cannot sustain it would be very advisable since this is the beginning of bitcoin gambling.
Investing within your discretionary funds is not gambling.
Investing beyond your discretionary funds is gamling.
I would not presume merely because someone does not have steady funds that they also do not have discretionary funds. It is a bad assumption, and you are creating an extra requirement that does not exist in order to invest into bitcoin.
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.
That would be investing with money that you need, and yeah, that is not recommended. It is not recommended to invest with money that is needed and it is not recommended to trade or gamble bitcoin, even though some people will do that.... and yeah they can do what they want, it is their choice, but it is not investing if money needed for expenses is being used.
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.
It is true that a person who does not have steady income may well need to look to improve their income situation, yet they do not need to secure steady income prior to getting started investing in bitcoin.