I guess individual should not invest a huge amount as a beginner in bitcoin industry because there is always uncertainity in rate and price of bitcoin.
How much is ideal for a beginner to invest in bitcoin?
- Thread starter Heatman
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I think that you made the right decision here. When you are unsure of a market it is best to not go all in with your funds to that market and try to manoeuvre it when there is so much uncertainty and there is also so much that you have to learn about the market as well. So you decoded to go in half and then as you learnt from the market and gained more confidence in it then you can increase your investment into the market which is very good way to approach it
What was your experience as the first time entering the crypto market?
If you are a beginner and have no single idea about bitcoin and other cryptocurrency I would strictly advise you to invest what you could afford to loose, like from $200 and above that's if you have far more than such amount.
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- #84
Yeah, I sure did made the right decision because it wouldn't be nice losing out for the first time as an investor should the deal go south. It may affect or rather influence my decisions towards other investments in the future had it been a bad experience. My experience as a first timer was a great one, I would rate it 80/100 good.I think that you made the right decision here. When you are unsure of a market it is best to not go all in with your funds to that market and try to manoeuvre it when there is so much uncertainty and there is also so much that you have to learn about the market as well. So you decoded to go in half and then as you learnt from the market and gained more confidence in it then you can increase your investment into the market which is very good way to approach it
You can easily trade bitcoin for cash or assets like gold instantly with incredibly low fees. The high liquidity associated with bitcoin makes it a great investment vessel if you're looking for short-term profit. Digital currencies may also be a long-term investment due to their high market demand.
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- #86
For the fact that trading of bitcoin is very easy makes it more convenient for most people to get into it. It does not require extensive experience or lessons on how successful trade or even buy Bitcoin or any other cryptocurrencies. This is why most people are rushing into cryptocurrency trading.
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Wikipedia has never been out of the headlines in a long time, it is either praised by users or criticized by critics. With the whole idea of open markets and free exchange, cryptocurrency has always been a source of controversy. Needless to say, financial institutions are not big fans of this type of system which eliminates the need to pay bank fees for every transaction.
Nasciers have always favored digital coins, especially the bitcoin, as it is a volatile and unreliable currency, but despite all the inconvenience caused by Wall Street, cryptocurrencies have survived and thrived.
Wikipedia has never been out of the headlines in a long time, it is either praised by users or criticized by critics. With the whole idea of open markets and free exchange, cryptocurrency has always been a source of controversy. Needless to say, financial institutions are not big fans of this type of system which eliminates the need to pay bank fees for every transaction.
Nasciers have always favored digital coins, especially the bitcoin, as it is a volatile and unreliable currency, but despite all the inconvenience caused by Wall Street, cryptocurrencies have survived and thrived.
Nasciers have always favored digital coins, especially the bitcoin, as it is a volatile and unreliable currency, but despite all the inconvenience caused by Wall Street, cryptocurrencies have survived and thrived.
Post automatically merged:
Wikipedia has never been out of the headlines in a long time, it is either praised by users or criticized by critics. With the whole idea of open markets and free exchange, cryptocurrency has always been a source of controversy. Needless to say, financial institutions are not big fans of this type of system which eliminates the need to pay bank fees for every transaction.
Nasciers have always favored digital coins, especially the bitcoin, as it is a volatile and unreliable currency, but despite all the inconvenience caused by Wall Street, cryptocurrencies have survived and thrived.
any little amount of money can be invested in bitcoins but just that if you want to make a reasonable amount of money by investing in Bitcoin and other cryptocurrency I think you should try and invest with as low as $50 to 100 this is when you will think of making a reasonable amount of profit
My advice is don't start invest in bitcoin. Invest in cryptocurrency other cheap coins because required heavy amount to invest in bitcoin , and if the value of bitcoin goes down, the loss also unexceptable for begginers.
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- Thread starter
- #90
You are absolutely correct about the cost of bitcoin being too expensive for beginners. It's virtually out of their league but there are cheaper ones to invest on that won't cost as much as what bitcoin is sold currently. Take for instance, Litecoin is a good option and it's very cheap.
Yes as a first-time Trader when it comes to having a bad experience it generally doesn't leave a very bad impression on yourself, and you do lose a lot of confidence in your trades. I remember my first trade that I made I lost quite a considerable amount and to take a very long time for me to get back on the horse and being able to trade again with a certain degree of certainty. At the moment I'm still uncertain about many of the trades that make, and I'm hoping that in the future as I learn more about this industry that I'll be able to have greater levels of confidence. It is good that you had a great first experience and that it has paved the way going forward for you in terms of entry in the crypto world.
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- #92
Yes, I'm also glad my first experience wasn't a bad one because it won't be good at all, as no one likes to lose money. I can remember the days of ponzi, my first experience was very bad which was why I hate on ponzi even till today.
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I'm sure that it must have been a very bad experience to be affected by a Ponzi scheme. To be honest I think that sooner or later and everyone's journey within the cryptocurrency world they will experience the point where they will be scammed for they will fall victim to a Ponzi scheme. It is part of our learning process when it comes to cryptocurrencies. Hopefully in the future there are less of these sites.
- Thread starter
- #94
Seriously, poniz killed a lot of people during the time people had no full knowledge of what they are all about. People always like to make money online and ponzi came at the perfect time back then which made a lot of people fell for it. Some got lucky but many got unfortunate.
In my personal opinion I think that Ponzi schemes will actually couple of more prominent in the coming months because people are a lot more vulnerable, and as such they will always be people that are looking to exploit this in terms of promising high investment opportunities. People will be especially looking for good Investments because many of them have lost their job opportunities through the lock down and pandemic. Therefore I think this is the time that everyone needs to be very careful with Ponzi schemes.
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I dont think there is a fixed amount that would be advisable for someone to invest in bitcoins, I think it basically depends on the amount of money the person has on him or her and the risk level the person is on. I would advice the investor to invest an amount he can do without.
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- #97
I'm quite sure that most people are now very wise when it comes to putting their money on any kind of ponzi scheme that looks like a good investment plan. It was when people were desperate to earn money online that these ponzi took good advantage of their ignorance.
This is true and people are becoming very wise in order to not fall for scams such as this. However, as time goes by the Ponzi schemes and the way that they are presented are also changing quite significantly. Ponzi's schemes are now trying to look a lot more legitimate than they were previously, and they are starting to offer you plans instead of a simple high interest rate in order to try and show that there is a certain degree of accuracy compared to the current market. So in this way whilst it can seem like it is a scam it does look a lot of convincing than it used to.
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- #99
Around 4 years ago, people didn't know much about how ponzi schemes are ran and they can't even differentiate them from real investment. I can remember when they started cryptocurrency scams, some of my friends fell for it but now, it's almost impossible to scam anyone with such plots.
The problem with the cryptocurrency world is that when you hear the success story that some people have they are able to double their investment in a couple of weeks perhaps. So when you see stories such as this and then you see a Ponzi scheme that is offering you a 50% return in two weeks or even a month you start to think that it could actually be legitimate because there have been traders in the past that have been able to accomplish such a profit margin. So I think the success stories as well play a large role in how believable a Ponzi scheme can be.
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