5 Bitcoin Investment Tips For Beginners, Auto Cuan!

In the past, investing was often the same as investing in stocks or gold. However, in this digital era, there is a new type of investment that is becoming the prima donna, namely investment bitcoins. 

As the name suggests, this type of investment is a type of investment that uses Bitcoin as its main vehicle.

Bitcoin itself is a digital currency created by a man named Satoshi Nakamoto. Just like conventional money, digital money, which was launched in 2009, can also be used as a tool for buying and selling transactions.

Bitcoin Investment Tips For Beginners

Anyone can invest in bitcoin, including those of you who are beginners. To do this, you need to know a lot of tips and tricks. There are some tips in this article that you can use when investing in bitcoin later.

Find Out About Bitcoins

The first tip you need to do is look for information first. The information sought is of course information about the world of Bitcoin investment. This is done so that you know more about the bitcoin investment that you will do later.

You can get information about bitcoin investment anywhere, be it through the internet or books. If you receive information, make sure it is valid and responsible. 

Find Out the State of the Market

Just like investing in stocks, bitcoin investments are also made in certain markets. The Bitcoin market itself has three types of conditions that must be known. Super positive states, super negative states and stagnant states are the three types of states.

Super bullish conditions are conditions where the price of Bitcoin fluctuates. The opposite of the previous condition is the Super Negative Condition, which is a condition where the price of Bitcoin really goes down and down.

Stagnant market conditions are bitcoin market conditions that tend to be sluggish. Because in this case, the Bitcoin price is flat; neither up nor down.

Knowing the three types of Bitcoin market situations is very important. By knowing all three, you can maximize your Bitcoin investment and make it more profitable.

For example, in negative market conditions. In this case, the price of Bitcoin drops sharply. To take advantage of this, you can buy lots of bitcoins that have fallen in price. You can later sell these bitcoins at a high price if you meet positive or stagnant market conditions.

You can benefit from reselling these bitcoins and buy new bitcoins. Or it can also be used for daily needs. 

Bitcoin Investment Technical Analysis

Another tip for bitcoin investing is to know the techniques of analyzing this type of investment. These tips are especially important if you are predicting the price of the bitcoins you are investing in.

Bitcoin price predictions can maximize bitcoin investment. There are two analysis techniques that you can use later, namely: Fundamental Analysis Techniques and Technical Analysis Techniques.

Fundamental analysis techniques is a technique for analyzing Bitcoin price predictions based on various factors that affect the price. The direct factors are: government policies, economic crisis and stability, and socio-cultural factors.

Meanwhile, Technical Analysis is a method for analyzing Bitcoin investments made using several charts. The charts used in any of these BTC analysis techniques vary.

Candlesticks, Bollinger Bands and Simple Moving Average are some of these chart types. Each of the three types of graphs has a different shape. But all three have a combined function, namely: both are used to read market conditions and bitcoin prices.

Keep it in a Secure Wallet

Like traditional money, Bitcoin becomes vulnerable to theft. Bitcoin theft is usually done by accessing Bitcoin storage directly or by hacking personal information before your Bitcoins are stolen. This is clearly very risky for the BTC storage that you will do later.

As a protective measure, you can download special software such as EAL or Metamask. Apart from that, you also have to be careful when anonymous people send messages via WhatsApp, Instagram, and so on.

If the message they send contains a link, try not to click on the link otherwise your personal information can be hacked and the bitcoins can be recovered.

Also read: How to Get Free Bitcoins on Indodax

Save For Long Time

Another tip for those of you who are just starting out bitcoin investment is to save the bitcoins that you have. Save bitcoins for a long time. Apart from keeping bitcoin reserves full, holding bitcoins for a long time so that the price of bitcoins will increase over time, especially when positive market conditions come.

So that your assets are not lost due to bitcoin theft, you need to download a special bitcoin repository. One such device is a Bitcoin wallet.

Storing bitcoins on this device is very secure. Because the bitcoin wallet is equipped with a strict security system and does not allow hackers to hack this device. Moreover, these devices are not connected to the internet, making it difficult for hackers to gain access to these devices.

Also read: Tips to Become a Bitcoin Miner and Make Money

Those were some tips that you can use if you want to start investing in Bitcoin. As long as you are diligent and serious in implementing it, Bitcoin investment will definitely succeed.