You have given a very good argument. Newbies do not need much in-depth knowledge to invest in Bitcoin. If they have only some basic knowledge, they can make a long-term investment decision in Bitcoin. I think 70% of new investors cannot survive, the main reason for this is the lack of right decisions. The Bitcoin market is always unstable and since there is no legal enforcement, the thing that can be observed among new investors is that waiting for a long time becomes a very difficult thing for them.
I think one thing that new investors must be aware of is that they can accept the instability of the market. You have to continue the investment activities keeping in mind the talent of losing money. In this way, you have to move forward bravely and after a long time you will be able to earn very, very good returns.
If a person has basic knowledge about Bitcoin, he cannot invest. In addition, he needs another valuable thing, which is a source of discretionary income. To invest, a person needs basic knowledge about Bitcoin, faith in Bitcoin, and a source of discretionary income. If a person has these things, then he should invest immediately.
If a person has basic knowledge about Bitcoin and if he does not have a source of discretionary income, then how will he invest? If that person invests with his emergency money, he may not be able to hold it in the long term. Because if he invests with emergency money, he may need that amount of money at any time. Doing so will be like gambling. Because when you need the money, if your investment suffers, you will lose a lot of money. Try to invest with the amount of money that you do not need, such as your discretionary income. There is no guarantee that you will profit if you hold your holding in the long term. Because Bitcoin is very volatile. No one can ever say what will happen in the market, so you can never give 100% certainty or anyone can. But yes, the chances of making a profit in long-term investment are much higher.
Are you trying to say that with basic knowledge a peerson cannot invest in Bitcoin? Well I do not agree with you coz basic knowledge is actually enough to kickstart your Bitcoin Accumulation journey.....When I say basic knowledge i am referring to this simple but important things, whichh are:
- Where to buy Bitcoin ( and probably where to sell though not really important)
- Where to safely store your Bitcoin by practicing things like self custody
- That Bitcoin is volatile( The price goes up and down and as such only your discretionary income should be used for investment, not money needed for your surviival.
- Bitcoin is divisible( you don't need to buy 1 whole Bitcoin, you can simply begin by stacking up a few Satoshis).
Did you know that the first step in investing starts with basic knowledge, and that you can start your investment journey with even a little knowledge? If someone can master the basic knowledge of Bitcoin investment, then they have fully acquired knowledge about the initial steps of investment. A little knowledge about Bitcoin is knowing what it is, how to buy it, and its price.
We can divide the basic knowledge of Bitcoin as follows;
Knowing about Bitcoin that falls within the realm of even a little knowledge. In fact, I am trying to fully discuss a person's basic knowledge about BTC here.
Digital currency: It is well known that Bitcoin cannot be controlled by any country or central bank, which means that anyone can invest in it at will, i.e. those who have discretionary income and less than $10 to live on, apart from family support, can participate in investing.
Block Chain Technology and Limited Supply: Bitcoin is actually recorded on a public ledger called a blockchain, and it is well known to all of us that its supply is limited. As a result, we are constantly experiencing the upward trend of the Bitcoin market, and this journey may even continue in the future.
Risk Warning: Bitcoin prices can fluctuate greatly, so before investing, keep in mind that there is a potential for risk. On the other hand, tax issues are related to this step because it is largely true that Bitcoin is a taxable asset, So if it is legal in a country, then citizens of that country must pay taxes to the authorities. In my opinion, this may be the most important because the password to the digital wallet should never be forgotten, which could result in the loss of the collected Bitcoins.
The investment process is an important level of basic knowledge for everyone: To be honest, investment strategies should be considered properly because financial fluctuations can sometimes affect investment strategies.So we have to try to choose the most accessible process from among multiple investment strategies.
Urgent tips: After learning about this topic, you can easily understand that the discussion here will focus on making the path to Bitcoin investment easier. In fact, among the most important tips, the first thing to say is that Bitcoin investment should be considered long-term. Even here, the advice of a financial professional may be necessary because not all of the money should be used for investment.