{"id":1459,"date":"2021-11-22T16:34:06","date_gmt":"2021-11-22T16:34:06","guid":{"rendered":"https:\/\/blog.prestmit.io\/?p=1459"},"modified":"2025-07-07T09:06:17","modified_gmt":"2025-07-07T09:06:17","slug":"what-to-know-before-investing-in-bitcoin","status":"publish","type":"post","link":"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin","title":{"rendered":"What To Know Before Investing In Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f904e34a976\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f904e34a976\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#Why_You_Need_To_Know_About_Bitcoin_Investment\" >Why You Need To Know About Bitcoin Investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#Things_To_Know_Before_Investing_in_Bitcoin\" >Things To Know Before Investing in Bitcoin<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#1_Set_up_Your_Digital_Wallet_First\" >1. Set up Your Digital Wallet First<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#2_Cryptocurrencies_Are_Not_Universally_Regulated\" >2. Cryptocurrencies Are Not Universally Regulated<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#3_Bitcoin_Volatility\" >3. Bitcoin Volatility<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#Likely_Bitcoin_Investment_Risks_and_How_to_Manage_Them\" >Likely Bitcoin Investment Risks and How to Manage Them<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#Frequently_Asked_Questions_FAQs_About_Investing_in_Bitcoins\" >Frequently Asked Questions (FAQs) About Investing in Bitcoins<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#How_can_a_beginner_start_with_Bitcoin\" >How can a beginner start with Bitcoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#What_is_the_minimum_investment_required_to_get_started_with_Bitcoin\" >What is the minimum investment required to get started with Bitcoin?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/prestmit.io\/blog\/what-to-know-before-investing-in-bitcoin\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">If you had invested $100 in <a href=\"https:\/\/prestmit.io\/blog\/bitcoin-101\">Bitcoin<\/a> in 2010, you\u2019d be $70 million richer today. Mind-blowing, isn\u2019t it? <\/span><span style=\"font-weight: 400;\">But before you get too excited, try to understand cryptocurrency and its entire ecosystem.<\/span><span style=\"font-weight: 400;\"> This will guide you to make informed investment decisions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some people still perceive Bitcoin as a get-rich-quick scheme, especially when they hear things like investing $100 and earning $1 million in a few years. What they often overlook is Bitcoin\u2019s volatile nature.<\/span><span style=\"font-weight: 400;\"> The Bitcoin market is very unpredictable. It can suddenly fall, and people will lose money. It can also rise, and people will make money!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This guide was prepared to help you understand how Bitcoin works and the factors you must consider before making an investment decision.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_You_Need_To_Know_About_Bitcoin_Investment\"><\/span>Why You Need To Know About Bitcoin Investment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"wp-image-1460 size-full lazyload\" data-src=\"https:\/\/prestmit.io\/blog\/wp-content\/uploads\/2021\/11\/Bitcoin-news.jpg\" alt=\"\" width=\"1013\" height=\"675\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/11\/Bitcoin-news.jpg 1013w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/11\/Bitcoin-news-300x200.jpg 300w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/11\/Bitcoin-news-768x512.jpg 768w\" data-sizes=\"(max-width: 1013px) 100vw, 1013px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1013px; --smush-placeholder-aspect-ratio: 1013\/675;\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cryptocurrencies typically promise potential for significant profits but also have considerable uncertainty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2017, <\/span><span style=\"font-weight: 400;\">Bitcoin<\/span> <span style=\"font-weight: 400;\">reached a value of over $19,000.<\/span><span style=\"font-weight: 400;\"> By the end of 2018, it was valued below $4,000, and there was no particular reason. <\/span><span style=\"font-weight: 400;\">Again in 2022, market fear and regulatory issues caused prices to crash.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The crypto space is not effectively regulated like the traditional global banking system, and numerous speculations and sentiments significantly impact the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if you want to venture into crypto trading, understanding the Bitcoin market is a must. You may need to also r<\/span><span style=\"font-weight: 400;\">ead the Bitcoin <a href=\"https:\/\/prestmit.io\/blog\/5-things-to-look-out-for-in-crypto-whitepaper\">whitepaper<\/a>, follow the advice of expert cryptocurrency investors, and examine past data.<\/span><span style=\"font-weight: 400;\"> This is how you protect your money from losing value.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I know of a friend who invested $500 in Bitcoin in 2019. <\/span><span style=\"font-weight: 400;\">Even during the COVID-19 pandemic and when the market was shaken and in constant decline, he refused to pull out his coins and never sold them until 2024. <\/span><span style=\"font-weight: 400;\">He sold the coin for $15,000 and gained a whopping $14,500. This was possible because he understood technical analysis and was patient enough to grow his coin. He succeeded not because he had money, but because he had knowledge.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Things_To_Know_Before_Investing_in_Bitcoin\"><\/span><b>Things To Know Before Investing in Bitcoin<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Before entering any business, you must try to understand it fully. This is applicable even in Bitcoin.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Set_up_Your_Digital_Wallet_First\"><\/span><b>1. Set up Your Digital Wallet First<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you want to buy Bitcoin, you\u2019ll need a digital wallet and a crypto exchange\u2014you can\u2019t just walk into your bank and deposit a Bitcoin.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let me walk you through the simple process for setting up your digital wallet: pick a safe wallet, sign up on a trusted exchange like Binance, verify your ID, connect your payment method, and you\u2019re ready to trade.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Cryptocurrencies_Are_Not_Universally_Regulated\"><\/span><b>2. Cryptocurrencies Are Not Universally Regulated<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In some countries, there are clear laws and oversight by financial authorities for a crypto asset like Bitcoin. Crypto is regulated in countries like the US, EU, UK, Singapore, and Japan. Others, like Canada and Australia, only offer partial regulation, while crypto remains unregulated mainly in many regions, especially in most African countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin is not directly controlled by a central bank or government, which is part of its appeal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While regulations are slowly emerging around the world, the crypto space is still mostly self-governed. This means you should always be cautious when investing in crypto. Only put in money you\u2019re okay with losing.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Bitcoin_Volatility\"><\/span><b>3. Bitcoin Volatility <\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In 2017, Bitcoin reached a peak of over $19,000.<\/span><span style=\"font-weight: 400;\"> In 2018, it fell to $4,400. In 2021, it got to $69,000. <\/span><span style=\"font-weight: 400;\">By 2022, it had slipped below $17,000 again.<\/span> <span style=\"font-weight: 400;\">This is not unusual, and many traders are aware of it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To this day, <a href=\"https:\/\/prestmit.io\/blog\/will-bitcoins-ever-crash\">Bitcoin is volatile<\/a>. From <\/span><span style=\"font-weight: 400;\">January to May<\/span> <span style=\"font-weight: 400;\">2025 alone, the BTC price ranged between approximately $74,400 and $111,970.<\/span><span style=\"font-weight: 400;\"> If you&#8217;re not emotionally and financially prepared to stomach wild price swings, think of another form of investment because Bitcoin might not be for you.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Invest only what you\u2019re willing to lose. And never invest based on what people are saying on the internet.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Likely_Bitcoin_Investment_Risks_and_How_to_Manage_Them\"><\/span><b>Likely Bitcoin Investment Risks and How to Manage Them<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Price Volatility:<\/b><span style=\"font-weight: 400;\"> Bitcoin&#8217;s value is not fixed; it could drop by as much as 20% overnight. You can <\/span><span style=\"font-weight: 400;\">navigate this by setting stop-loss orders and diversifying your portfolio.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Security Risks:<\/b> <span style=\"font-weight: 400;\">Failing to secure your <\/span><span style=\"font-weight: 400;\">digital assets properly means you don\u2019t mind being hacked. <\/span><span style=\"font-weight: 400;\">To keep your cryptocurrency secure, use a <a href=\"https:\/\/prestmit.io\/blog\/top-5-hardware-offlinecold-crypto-wallets\">hardware wallet<\/a>, enable two-factor authentication, and never share your private keys with anyone.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Scams and Ponzi Schemes:<\/b><span style=\"font-weight: 400;\"> Shady trading platforms, &#8220;free money&#8221; scams, and tricky links designed to steal your info are everywhere. So, use only reliable and properly licensed exchanges. Double-check every platform before you put any money or personal details into it. Stay safe out there!<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regulatory Changes:<\/b><span style=\"font-weight: 400;\"> Crypto laws change fast. <\/span><span style=\"font-weight: 400;\">A government announcement can cause prices to drop.<\/span> <span style=\"font-weight: 400;\">Stay informed about global news<\/span><span style=\"font-weight: 400;\"> and adjust your investments accordingly.<\/span><span style=\"font-weight: 400;\">\n<p><\/span><\/li>\n<li><b>Emotional Decisions:<\/b><span style=\"font-weight: 400;\"> Do not let the <a href=\"https:\/\/prestmit.io\/blog\/what-is-fomo-in-cryptocurrency\">Fear of missing out (FOMO)<\/a> or panic selling rattle you because it can cause problems. Create a plan, set goals, and stick to them despite the noise.<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs_About_Investing_in_Bitcoins\"><\/span><b>Frequently Asked Questions (FAQs) About Investing in Bitcoins<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"How_can_a_beginner_start_with_Bitcoin\"><\/span><b>How can a beginner start with Bitcoin?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You can do this by signing up on various crypto trading platforms. <\/span><span style=\"font-weight: 400;\">When you sign up, verify your identity, deposit funds into your wallet, and purchase Bitcoin.<\/span><span style=\"font-weight: 400;\"> Start with an amount you can part with and learn as you go.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_minimum_investment_required_to_get_started_with_Bitcoin\"><\/span><b>What is the minimum investment required to get started with Bitcoin?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There\u2019s no minimum amount to use in getting started. But it is important to start small and increase your investment as your confidence grows.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Bitcoin is a financial revolution with real risks and rewards. <\/span><span style=\"font-weight: 400;\">Don\u2019t just believe the success stories circulating online; take your time to understand Bitcoin. It&#8217;s an investment, not a get-rich-quick scheme.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Go on personal research, and learn how it works.<\/span> <span style=\"font-weight: 400;\">Know how much risk you\u2019re willing to take for the business. Then, start small with what you can afford, and keep your ears open to learn about new updates and relevant info that could help you protect your assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crypto is moving very quickly, but when you know what you\u2019re doing, you can move smart.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you had invested $100 in Bitcoin in 2010, you\u2019d be $70 million richer today. Mind-blowing, isn\u2019t it? But before you get too excited, try to understand cryptocurrency and its entire ecosystem. This will guide you to make informed investment decisions.\u00a0 Some people still perceive Bitcoin as a get-rich-quick scheme, especially when they hear things [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14383,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1788],"tags":[585,14,661],"class_list":["post-1459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-bitcoins","tag-cryptocurrency","tag-things-to-know-before-investing-in-bitcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What To Know Before Investing In Bitcoin - Prestmit<\/title>\n<meta name=\"description\" content=\"Are you new to cryptocurrency? 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