Can someone who doesn't know anything about bitcoin invest in bitcoin?

[AYIMAN]

Generally,it is very important that when ever someone wants to invest in any kind of business either crypto,or personal business, you need to have an idea of what you want to invest in...

In management,there is something we call market survey...what does that mean?it simply means trying to have an idea of the particular business you want to go into.....and that includes finding out if a particular product will sell in a particular area...it also includes finding out what your competitors are doing to remain in business...
The reason for doing all these things is to know if can survive if you eventually starts the business.

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

[Charles-Tim]

In any business you are venturing into, learn about the business first before your invest in the business for your to be able to avoid loss of capital. This also applies to investment and investing in bitcoin if I should be specific.

There are hackers and scammers that are waiting to steal coins from such a person. It is better you learn everything necessary before investing in bitcoin.

[Bishop Victor]

Generally,it is very important that when ever someone wants to invest in any kind of business either crypto,or personal business, you need to have an idea of what you want to invest in...

In management,there is something we call market survey...what does that mean?it simply means trying to have an idea of the particular business you want to go into.....and that includes finding out if a particular product will sell in a particular area...it also includes finding out what your competitors are doing to remain in business...
The reason for doing all these things is to know if can survive if you eventually starts the business.

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

Op Now that it is clear that one needs to understand a business before investing, this is why I keep asking: can someone truly invest in Bitcoin when they don’t even understand how it works?

[fredericktaylor]

Generally,it is very important that when ever someone wants to invest in any kind of business either crypto,or personal business, you need to have an idea of what you want to invest in...

In management,there is something we call market survey...what does that mean?it simply means trying to have an idea of the particular business you want to go into.....and that includes finding out if a particular product will sell in a particular area...it also includes finding out what your competitors are doing to remain in business...
The reason for doing all these things is to know if can survive if you eventually starts the business.

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

To start buy Bitcoin, it is very important for an investor to have basic knowledge about Bitcoin and to have a discretionary financial management. Starting an investment without knowing or understanding anything is very risky, as a result of which you will not be able to manage the investment properly for a long time. We have to remember that Bitcoin long-term investment, it is never possible to achieve success by investing in the short term, to achieve success by investing in Bitcoin, it is very important to have a long-term plan in addition to having continuity of investment.

Wherever you invest, if you want to be successful, you must have the right knowledge about that subject as well as manage your investments consistently over a long period of time do not get discouraged or give up quickly no matter how many obstacles and dangers come, you have to face them patiently and confidently, as a result, you can gradually achieve success. Success is never achieved quickly.

[Qhunman]

Op Now that it is clear that one needs to understand a business before investing, this is why I keep asking: can someone truly invest in Bitcoin when they don’t even understand how it works?

That is not true,you can't invest in bitcoin when you have no Idea about it. If you start an investment without understanding how it works you might run into loses. Before you start investing in bitcoin, you should learn the basic knowledge about it in order to avoid making mistakes that may jeopardize your bitcoin investment. It is not necessary that you must learn everything about bitcoin as you can begin with the basic knowledge and as you re investing your knowledge about bitcoin would improved

[Majestic-milf]

 You talk am say person suppose make market survey before him put body for any business him wan do and then for Bitcoin own case, you go also run your research as well. I dey like tell people say no be every thing wey dey fetch others money fo fit give you too. Bitcoin nah very volatile stock so if you begin put am for mind say because you see your group of friends dey gist am about am and you come feel say nah there e end and e easy like them dey talk, my dear, the best thing nah to make your own findings so that e no go look like say them lie give you.
 Although e get wetin I don notice about information wey friends go give you about crypto investment, especially Bitcoin. Not all of them go tell you the downsides, so that Incase una wan join money take start, e no go look discouraging but the bottom line nah, e dey very important to always comot body for wetin you no get in-depth knowledge about as e concern money.

[Yablee0]

Op Now that it is clear that one needs to understand a business before investing, this is why I keep asking: can someone truly invest in Bitcoin when they don’t even understand how it works?

Nobody knows everything in a single day it takes time for we to know better, however you don't have to get all the knowledge in the world about Bitcoin investment before investing, perhaps with just a clear and little understanding on the basis knowledge like how to buy and store your coin in a safe wallet that can be scam free , and also to be able to know the rightful funds to buy with and  how you can  prevent your funds from future challenges you are good to go.

I noticed that this mentality of not knowing it all before investing has prevent most people from doing what is expected because having this thought is more of doubting your capability  or competent in doing better and it's not that healthy as someone aspiring to do great in life, however always try in taking advantage of every new innovation at the earlier stage because learning is a process perhaps along the line of your investment journey you will keep learning more.

[Merit.s]

Bitcoin is different from those business that you are talking about because bitcoin is an asset and you need only the basic knowledge of bitcoin to start buying bitcoin.

What are the basic knowledge of bitcoin.
1. Bitcoin is a long-term asset and only invest in long term with the amount of money that you can afford to lose.

2. Bitcoin is decentralized and a volatile digital currency that uses p2p payment method without a third party to process your transaction.

3. A good exchange you can use to buy bitcoin

4. You figure out whether you have a discretionary income and how much can be put into bitcoin.

With all these, you are good to start buying bitcoin and learn the rest as you have started like which noncustodial wallet is preferable to you to use to store your coins and many more.

Bitcoin knowledge is best understood when you are doing the practical which is by investing. Investing will give you more experience because experience is the best teacher.

[Loyang]

Every step, especially emergency steps, which involve financial situation or risk, requires the understanding and knowledge of every person before taking such steps. Similarly, in the case of Bitcoin investment, if a person who has no explicit knowledge about Bitcoin wants to invest in Bitcoin, then he should have basic knowledge of Bitcoin and whether he has discretionary income or not. If he has discretionary income, then he can invest.

But yes, he should not sit back after starting his investment. He needs to gain knowledge about many more things and how to protect his deposited holdings or Bitcoin. Basic knowledge about Bitcoin and discretionary income, if a person has these two things, then he needs to start investing.

If you read @JJ sir's comments carefully, you will learn almost everything about investment very quickly. JayJuanGee  

In this topic you will find several ideas related to Bitcoin investment JJG’s Outline of Bitcoin Investment Ideas

[sotelorene]

I totally understand what you are talking about but there is difference between those kind of business you are talking about and Bitcoin itself and in those business you are talking about survey is very important just like you said because without it you can not be able to navigate in that particular field or discipline and the chance of success will be very low. But in Bitcoin investment we don't need to survey anything in Bitcoin before we start investing but rather what we need is just the basic knowledge about Bitcoin which will help us invest properly and know some market dynamics which is fluctuations or variations, so we don't need survey in Bitcoin because we have already seen and known how Bitcoin use to operate for years now. Most importantly sorting out discretionary income is very vital in Bitcoin investment because without using discretionary income our investment will be in jeopardy.

[Jubilee58]

No one is born with knowledge, knowledge is acquired and therefore, you need to acquire the knowledge about bitcoin investment before doing so. When you venture into a business that you do not know about, you end up regretting because you will make numerous mistakes. I told a story here in one of my recent post where I used pen to copy bitcoin address on a sheet of paper instead of copy and paste and that was how I lost my bitcoin and it was as a result of not acquiring the knowledge before making that transaction.

Knowledge is power, if don't learn about bitcoin investing, how can you protect your bitcoin? How can you identify bitcoin scam? And do you know the right place to invest or buy your bitcoin? All these questions are the reasons why you need to understand Bitcoin investing before you venture into it.

However, this forum plays major role in guiding newbies how to go about bitcoin investment and as a newbie, ensure to ask questions where and when necessary so that you will be enlightened on how to go about bitcoin investment.

[JimaGod]

Why invest in something you know nothing about? It's always advisable to have a clue about a particular investment you plan on executing and not just knowing it but completely understanding the basis that follows. Bitcoin is nothing to rush but to calmly understand the market and enchancint every chance to win. I know it's never going to be an easy one but with proper pattern and strategies, winning comes with ease. Investors who don't have an atom of clue about Bitcoin will end up not meeting standards and they become vulnerable to the heavy losses and setbacks in the market.

[God Tim]

Generally,it is very important that when ever someone wants to invest in any kind of business either crypto,or personal business, you need to have an idea of what you want to invest in...

In management,there is something we call market survey...what does that mean?it simply means trying to have an idea of the particular business you want to go into.....and that includes finding out if a particular product will sell in a particular area...it also includes finding out what your competitors are doing to remain in business...
The reason for doing all these things is to know if can survive if you eventually starts the business.

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

It not possible when their is no idea how did you invest on bitcoin you have to go for more details and find out before investing on anything like you personal business when their is no capital how did you start you need more Idea or ask people who have been on dat process before so you have more to do on the business.

For investing when you don't have a big capital how did you invest?  Okay for me I have to have enough before talking of investing you go through that business how the income and outcomes are going, if it giving a good capital I think you can invest everything to know how to keep moving the business for better strategies

[Versatile_choice]

But in Bitcoin investment we don't need to survey anything in Bitcoin before we start investing but rather what we need is just the basic knowledge about Bitcoin which will help us invest properly and know some market dynamics which is fluctuations or variations, so we don't need survey in Bitcoin because we have already seen and known how Bitcoin use to operate for years now. Most importantly sorting out discretionary income is very vital in Bitcoin investment because without using discretionary income our investment will be in jeopardy.

You're right about that, survey is mostly run when trying to venture into  a business it could be online or offline but in bitcoin investment you don't need to do any survey and even though you try to learn through survey you might not even get what you want because survey is more like question and answer so it is better you look for a mentor or you make research about how bitcoin investment works and the things you need to know before getting started rather than learning through survey. However, learning from survey can only help you know the minor things about Bitcoin investment but they can't go into details that is why we need a mentor or better still we can make research.

[Bryan jessy]

Just like you have mentioned earlier, that one needs to carryout a survey for any business you want to venture into, the same is applicable with Bitcoin but a little difference because it is a cryptocurrency and not just like the regular kind of business, so one needs to acquire solid knowledge about Bitcoin so you will have a good foundation. Because investing in Bitcoin without any knowledge about it can cause a huge loss, anything that involves trading or investment, we must be very mindful of it.
Look for people or rather Bitcoin experts to train before  going into it, to avoid trauma from losses.
We should not take such risk.

[AmaGold70]

Bitcoin is not a business so there's a different between investing in Bitcoin and starting up a business, investing in Bitcoin or any other crypto currency without having a proper idea of what it truly means is like walking blindly in the middle of the road so it's never advisable to invest in Bitcoin without having proper knowledge of it because Bitcoin investment isn't something you do without preparing your mind for the unknown and it isn't something you do because others are doing it. You can actually start up a normal business without knowing anything about it and still manage to find your way around it but in Bitcoin it is very difficult to do so especially because of how uncertain it can be.

[Hustle2025]

It is not possible for a person who have zero knowledge about bitcoin investment to invest in Bitcoin.  Going into what you are ignorant of is a step to failure or loss. The knowledge which an individual have about bitcoin investment acts as guides on how to draw investment strategy, risk management and how to control and manage emotion when taking investment decisions.  The journey to bitcoin investment is very dynamic and full of risk and uncertainties, only those who have the required knowledge and information about bitcoin investment can survive and management the risk in order to be successful in their investment.

[SmartCharpa]

Generally,it is very important that when ever someone wants to invest in any kind of business either crypto,or personal business, you need to have an idea of what you want to invest in...

In management,there is something we call market survey...what does that mean?it simply means trying to have an idea of the particular business you want to go into.....and that includes finding out if a particular product will sell in a particular area...it also includes finding out what your competitors are doing to remain in business...
The reason for doing all these things is to know if can survive if you eventually starts the business.

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

As long as man need to have an idea about any business they wish to do, Bitcoin also requires knowledge before someone can invest their money. Investing in Bitcoin without having the knowledge is like putting  your money at risk for something you don’t know what the outcome will look like. The reason it is very important to understand bitcoin before buying it is that you will not sell just because of any changes in the market.

However, have you ever heard of someone becoming successful in Bitcoin before without the knowledge? It’s difficult to see someone without the knowledge becomes successful during this journey. Many people lose their money in bitcoin due to lack of knowledge, you will never hear that someone losing money in bitcoin because of much knowledge about it, so having knowledge is the first thing we should do.

[AGogi2003]

If you don't have any knowledge about bitcoin you can invest in it but is very advisable to get some knowledge about it before you can start the journey. Because if you don't have any knowledge about bitcoin and you invest in it when the price is not moving well the way you plan it you will start regretting why you invest in bitcoin when you don't have the experience on how he goes, but if you have the knowledge about the bitcoin you won't worry about the volatile Because you surly no that this time can probably come anytime and the price can change.

As someone that understands bitcoin if someone ask me he wants to invest in bitcoin i will surly advise him more to invest in it and keep for long term, and guide him more about it on he moves. But if you're not that person that like investment and scarred of losing i won't encourage you to invest in bitcoin because anytime the price is not going well you will definitely blame me since am the one that ask you to invest an you're not someone that is patience enough to keep your investment for long term. So is good to understand Bitcoin or any other business before you risk your funds in it.

[Gozie51]

Now that it is clear that one needs to have an idea of the business he or she wants to invest in, that's why l keep asking if someone can invest in bitcoin even when you don't have an idea of how it works?

The thing is sometimes you want to make passive income in a certain business or investment and this is the idea that people invest in Ponzi scheme. They want to immediately take out their own share of profit.

So yes, sometimes you don't need to learn a business but you want to invest in it, not necessarily that you have to know everything about it if it is not your main hussle or if you don't want to take it as a serious business. Talking about bitcoin investment, I have seen people who invested through another person and they bought btc for them, held it for them until it got some profit and they sold for them. They bought for some and opened wallet for them to monitor it. So this set of people can have the opportunity to learn and understand it.

If we have to know every business we make money from then people will remain poor. What you need is capital and someone you can trust to invest in a business that you don't have an idea of. The rich multiply their riches by lots of investment and diversification, it doesn't mean they have knowledge of all that they are investing in. So you can invest in bitcoin through someone trusted if you don't know about bitcoin technology.