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Bitcoin Investing 101: A Guide for the New Investor in 2024

Bitcoin Investing 101: A Guide for the New Investor in 2024


1 Being able to read candle charts is crucial before you start investing.

Looking into investing in Bitcoin? Well, you’ve come to the right place! This is the most updated guide of the time to investing in BTC securely and reliably.

When to Buy, Hold, and Sell?

Knowing when to buy BTC (or when to buy more) is a science that cannot be taught in a day. Instead, we’re going to leave you with some general pointers to follow that are based on years of experience in successfully investing in Bitcoin (and a whole lot more mistakes and missed opportunities!).

●Set a Dollar-Cost Averaging or DCA strategy where you invest a fixed amount at regular intervals regardless of price.

●Purchasing during dips is always a good idea. Accumulate during bear markets and see the value appreciated down the line.

●Stay informed about news and do a fundamental market analysis to make sure you’re buying the right amount at the right time.

●Follow the Bitcoin market cycle of boom and bust by considering historical price charts to identify patterns.

●Look into moving averages, Relative Strength Index, and Bollinger Bands to solidify your investments.

●Hold your BTC during crashes or dips. It’s the worst time to sell.

Once you have purchased your BTC, it’s important to know when to hold and when to liquidate or use your wealth. Many people never use their BTC, but a few liquidate it in case of emergencies or when the use outweighs the investment potential.


Ultimately, it’s essential to know how to use your BTC effectively. The majority of people disconcerted with cryptocurrencies are the ones who didn’t have a clue about how to invest in them on time, so it’s best you brush up before you slip up.

Security from Hacks, Scams, and Frauds

Hacks, scams, and frauds are surprisingly easy to deal with. However, unsuspecting users or those who are less technologically savvy often find it difficult to keep their money secure. We’re going to tell you all about how to stay protected below so you never lose a penny!

In 2023 alone, cybercriminals have stolen $3.8 billion worth of cryptocurrency, an all-time high. BTC is the biggest target because it’s the most valuable. So, it’s important to know how to protect yourself before investing.

●Giveaways are 100% scams. Nobody gives BTC away for free.

●Make a wallet and store the seed phrase somewhere safe, preferably on a piece of paper inside a locker. Never share this with anyone. Once someone has access to your seed phrase, it won’t take them more than a minute to move out all funds.

●Don’t respond to unsolicited messages for Bitcoin support or official emails. There is no “official” organization maintaining Bitcoin; it’s all community-driven.

Where to Use Your Crypto

Once you have your investment cycle active and running, it is good that you know the options you have to use your cryptocurrencies:

Online Casinos with Bitcoin

Popular bitcoin casino platforms, which serve as a subset of online casinos, are gaming platforms that specifically cater to users who wish to bet and play using cryptocurrencies as their primary means of wagering and payment. These platforms have embraced the secure and anonymous nature of cryptocurrencies by accepting various digital coins, such as Bitcoin, Bitcoin SV, Litecoin, USD Tether, and others, for both deposits and withdrawals.

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This level of accessibility has made Bitcoin casinos an attractive option for many crypto investors and enthusiasts, as they can easily utilize their cryptocurrency holdings for a bit of fun and potentially earn some additional profits through gambling activities.


Additionally, depending on your casino, you can earn Bitcoin-exclusive bonuses for users who deposit with the coin. Another advantage these casinos have is their anonymity since crypto casinos allow you to play anonymously without providing personal information. Additionally, cryptocurrency transactions are secure and difficult to trace, which adds a layer of security for players.

Cryptocurrency Exchanges

Cryptocurrency exchanges allow you to buy, sell, and exchange cryptocurrencies for other digital or traditional currencies. These offer you a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, and others. You will also have liquidity to execute and facilitate the speed of your transactions with these exchanges.

It is crucial to research and compare different exchanges before deciding which one to use, considering factors such as security, fees, ease of use from other users. Additionally, it is always advisable to use secure cryptocurrency management practices, such as using cold wallets to store large amounts of crypto assets.

Payments for Goods and Services

Many online and brick-and-mortar merchants now accept cryptocurrency as a form of payment for products and services. Thanks to technological advances and market diversification, paying your bills with cryptocurrencies is easier than ever. You can buy everything from groceries to luxury goods using the fruits of your crypto investments.

How Much to Invest in Bitcoin as a Beginner Investor?

Only invest an amount that you can afford to lose. Don’t put your life savings into BTC or any asset class regardless of the hype surrounding it. It’s better to gradually increase your BTC holdings during times of dips than to buy a large chunk in one go.

Always keep a long-term investment mentality, because BTC always outperforms others in the long run (it’s the best-performing asset of the decade with an annualized return of 230%). Don’t sell if the markets crash and embrace the fact that there is natural volatility woven into the fabric of Bitcoin.

How to Buy BTC the Right Way?

Remember, if it’s not your wallet, it’s not your BTC! Platform wallets on centralized exchanges such as Binance are not your property. If you buy from a centralized exchange, then make sure you transfer it immediately to your wallet (you can use Electrum for this, but a hardware wallet is more recommended).

  1. Buy on a centralized exchange for convenience.
  2. Pay for your BTC in fiat.
  3. Transfer the purchased BTC from your exchange wallet to your wallet.

If you make regular purchases, then you need to find the right times to transfer because the transaction fees are sometimes very high.