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

[Grace333]

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?

In today's world where the internet has made business and digital assets and services alot easier to access we all need to be careful. For someone who is hearing the name of an asset or investment platform or opportunity for the first time, they need to do their own research to understand what they are getting into. When it comes to bitcoin they also need to do likewise but if they guided by an investor who might have probably been in the system for a while now they can go ahead with the investment and as time goes on they can increase their knowledge.

The reason I said that, bitcoin is not just any asset and provided the person is guided by a mentor he definitely would be getting some basic information that would mean skipping some basic research, though it's very important we also find out ourselves what we put our money into.

[Crypto_Timothy]

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?

Alot of people have invested in business they know nothing about and whatever they saw, they just took it because that is pretty much how it goes when you dont pay attention and focus detail into what you are putting money into. Now to properly benefits from Bitcoin you need to hold and obviously you cannot hold without conviction, because when the market shifts it is very easy to panic and sell so conviction is crucial to hold Bitcoin. so if all of these are true then you truly have to understand the Bitcoin before you can properly invest in it otherwise there is a chance you will only hold for a short period of time which in turn defeats the purpose of Bitcoin in the first place.

[Joeboy]

First of Bitcoin is not a business, it is an investment scheme. And basically most investment scheme doesn't require all the technical know how in order to start, this also applies to Bitcoin, in Bitcoin, you only need some basic knowledge to start, after which you can build on this knowledge.... Knowledge about volatility is one of such basic knowledge, you may not even go far in Bitcoin if you are ignorant about it volatile nature....This is coz every fluctuation may begin to feel like Bitcoin isnt an appreciative asset, and as such you may even be forced to sell earlier than you planned for...Another is the knowledge of how to invest using your discretionary income, and also how buy and how to store you Bitcoins.....After the knowledge of these things, you can very well start your investment and learn more along the way....

[Floczy]

Yes, someone who know noting about bitcoin can invest in bitcoin either through a third party institution or from a close friend who is into bitcoin investment. However, I wont advise anyone to invest through any third party because you wont have full custody of your bitcoin. A good reason why third party is not advise is due to trust issues. People can change, your relative, friend or close one can steal your asset or refuse to give you access to it, after you have accumulated a lot of bitcoin. My 2 cent here is that you try as much as possible to learn how to buy and how to secure your bitcoin. Both will give you a quick start to understanding how bitcoin works.

[Pi-network314159]

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?

i understand what you mean though, but one thing you should know is that bitcoin investment is not like other form of business that requires you to do a lot of market survey before embanking on it. in bitcoin you only need basic knowledge to buy from exchange and stack it on your non custodial wallet for long term use, that is if you are an investor. except you are a trader that you will need a lot of study to learn the skill in trading to be profitable in a short time. so someone who doesn't know much about bitcoin can invest. not that they will completely not know anything at all, but will  be aware about the basic things they need to know for a startup.

[Uhwuchukwu53]

The course of many losses in business or investment is resulted to ignorant, any investment an investor is venturing into without key knowledge always suffer in it's growth or profit making, despite Bitcoin is not mere business to succeed one really need knowledge as guide, though long time holder who have knowledge of how to secure his investment can go into the investment and learn more but investment without knowledge and not even gearing to learning can't strive in Bitcoin instead will amount losses because one really need update or information about the market move and other vital information which keep investor hope alive once it's long time holding.

[IceLincoln]

Yes, someone who know noting about bitcoin can invest in bitcoin either through a third party institution or from a close friend who is into bitcoin investment. However, I wont advise anyone to invest through any third party because you wont have full custody of your bitcoin. A good reason why third party is not advise is due to trust issues. People can change, your relative, friend or close one can steal your asset or refuse to give you access to it, after you have accumulated a lot of bitcoin. My 2 cent here is that you try as much as possible to learn how to buy and how to secure your bitcoin. Both will give you a quick start to understanding how bitcoin works.

Yeah I share similar thoughts with you on answering the OP, yes it’s important to have good knowledge of the business or investment you’re about to get into to avoid losses and other mistakes and errors. But I think with bitcoin it can be a little Bit different as it’s not like the traditional businesses or ventures.
Just like you’ve said someone can do it for you, just you provide the funds but it’s not without its disadvantages doing this.
And I’ll not advise someone to invest in bitcoin when you don’t know shit about it.

[Son Of Blockchain (SOB)]

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?

i understand what you mean though, but one thing you should know is that bitcoin investment is not like other form of business that requires you to do a lot of market survey before embanking on it. in bitcoin you only need basic knowledge to buy from exchange and stack it on your non custodial wallet for long term use, that is if you are an investor. except you are a trader that you will need a lot of study to learn the skill in trading to be profitable in a short time. so someone who doesn't know much about bitcoin can invest. not that they will completely not know anything at all, but will  be aware about the basic things they need to know for a startup.

Definitely, cause someone who has zero idea about Bitcoin has none of it so since they've missed the opportunity of buying it earlier it's best to learn the basics and start accumulating instead of waiting to learn it all and continue to miss out on buying it cheaper, the market is volatile and you never can tell what the price would be at different Intervals.
 That's why investing in Bitcoin is more better than other crypto related financial opportunities cause it's easy to learn and understand, unlike trading that would require one to constantly monitor the market, analyse and master the act of buying, selling and calculating stop loss, all those are not required for investing in Bitcoin, with the basic knowledge and discretionary funds intact, a newbie investor is okay.

[Nuel0717]

If I should answer the question specifically, I would say yes. Why? Because so many people invest for different reasons, some for quick cash, some for long term investment. There’s always a reason behind an investment, which means it’s possible for someone to invest in Bitcoin even without fully knowing it.

Investing just because someone told you to can be seen as a bad idea, but what about investing when someone like Jameson Loop or Michael Saylor shares their perspective based on their market experience and analysis? All of this points to the fact that it’s possible to profit even as a beginner, and at the same time, it can help someone learn more about Bitcoin and the market. In the end, even small steps in investing can turn into both profit and valuable lessons along the way.

[Jaycoinz]

Yes, someone who know noting about bitcoin can invest in bitcoin either through a third party institution or from a close friend who is into bitcoin investment. However, I wont advise anyone to invest through any third party because you wont have full custody of your bitcoin. A good reason why third party is not advise is due to trust issues. People can change, your relative, friend or close one can steal your asset or refuse to give you access to it, after you have accumulated a lot of bitcoin. My 2 cent here is that you try as much as possible to learn how to buy and how to secure your bitcoin. Both will give you a quick start to understanding how bitcoin works.

I don't think that would be a good approach for me because there are so many things that can could go wrong especially anything that has to do with theirs parties involved. To start your investment is very easy, you don't need to be tech guru or Bitcoin genuine to simply follow the guides of basic investment strategies which is just to use funds that you are using known as your discretionary funds or income for the investment. You can get yourself any exchange online that can enable you get Bitcoin and buy little by little then send it out to your non custodial with when the amount looked promising.

[RockBell]

Yes, someone who know noting about bitcoin can invest in bitcoin either through a third party institution or from a close friend who is into bitcoin investment. However, I wont advise anyone to invest through any third party because you wont have full custody of your bitcoin. A good reason why third party is not advise is due to trust issues. People can change, your relative, friend or close one can steal your asset or refuse to give you access to it, after you have accumulated a lot of bitcoin. My 2 cent here is that you try as much as possible to learn how to buy and how to secure your bitcoin. Both will give you a quick start to understanding how bitcoin works.

When it comes to buying Bitcoin and other crypto currency, it is one of the easiest steps to take, so even as a newbie, it is very easy for them to have access to buying bitcoin and and you can just do research and they can even give steps and institutions that you can buy from, so it is easy to buy but difficult to maintain. Most people think it is always about buying they don't know that it takes a lot of patient for them to be able to keep it because majority will buy be for yo know they are already selling, so it is very important for them, to know that as they are buying to keep with the intention to hold they don't have a choice than to hold and be patient and all this is because they did not prepare well.