No doubt that person gave you good advice to invest in Bitcoin. But since you don't know about this, you should know first. Also, you need to know how to keep your bitcoins with your own self. Here one should not rely only on faith. Because Bitcoin can be risky when it becomes a big asset after a long time. Although your $500 may not be a big investment, it can definitely turn into a big asset over the next 5 years or more. You can also grow your portfolio even more when you learn how to buy bitcoins on by your self. Learn About Bitcoin Regularly Hopefully you'll have your basic knowledge of Bitcoin in the shortest possible of time.

Good to see you here. I would say this is a pretty good start. I like it when I see people do not get convinced just by a few words from their friends and they like to know more. They come to the forum for research purposes at the end. As I can see, you have got a lot of suggestions regarding what you should do before you invest and how much you should invest. But I would like to say something about what not to do.

Do not play with your Bitcoin. Crypto newbies used to try to double up their investment. They try Bitcoin doubler websites, they try pyramid scheme scams, and casinos as well. Do not do this with your investment. Never install software from unknown sources. do not keep your funds on exchanges. Do not share your seed phrase with anyone.

First of all, welcome to the forum, Op. Your friend is not mistaken to tell you that investing in bitcoin is profitable, but I want you to understand that this is not a quick way to make money, because some people think bitcoin is a easier way to make money, instead, you will need to be patient. Investing in bitcoin carries a certain level of risk, but it's not a risk that you will lose all of your money. Example if you hold bitcoin and the price drops, don't be afraid and sell, you won't lose any money, if the price drops, it will eventually rise again, no what time it take. Don't allow anyone fool you into thinking that you can lose all of your money in bitcoin, you can only make profit.

When it comes to investing, it's not a bad idea to start with $500 or any other amount you can afford. However, you should never use money you borrowed or that you may need in the near future. If a friend opens a bitcoin wallet for you, you should keep it secure, trust no one but yourself, and ensure that your information is safe with you. Follow all this advise given to you, it will guide you.

You will never regret investing in Bitcoin. But first, you should learn about Bitcoin, how to open and handle your wallets and how the investment in it works. Not that you will just start investing in what you do not understand simply because a friend told you to do so. Mind you, it is a very risky affair if you allow your friend to open your wallet for you, the risk is high and he could steal your money in the future if he so desires. This is one of the mistakes that people make but will be crying foul later. Bitcoin and any online assets are yours and yours alone, you should be the one to keep it and know all the accesses to it, and not a third party, not even your family member.

Fine the friend has done his part to introduce you to Bitcoin, you should do your part to learn and it and know the dos and don'ts about it. By this, you will know how to own your wallet by yourself, make a deposit and withdrawals as the case may be, and also store your coins safely.

I repeat, don't ever let your friend open your wallet for you, nor let anyone know your access keys and codes.

Once OP knows this, I think it's safe to say that it's the worst thing that OP can do because you don't know how some people's minds work, some might be trustworthy and those trustworthy people are too few and hard to find. It's actually nice that you've added that they should also read about loses because I do think that's the best way to learn about mistakes that you might not afford to make.

Mr. OP if you don't have knowledge about bitcoin then you don't get involved in investment in the beginning, rather you give time to bitcoin. When you have good knowledge and analysis of science, then definitely invest, but you will profit. Moreover, if you go to invest without analyzing the market position at the beginning, you may fall into the losers, and you may get emotional when the volatility starts in the market. And if you can invest $500 dollars now and keep it for a long time, then surely you will be able to earn enough profit from here. But you have to remember that there are times when market volatility starts, and you have to patiently save your bitcoins so that you can get high profit from them after a long time. You are new user, but you must invest Bitcoin and hold it till ATH and you use DCA, it will help you avoid loss.

Yeah, it's a good thing that his friend or acquaintance suggested bitcoin to him or introduced bitcoin to him, but the thing is, what the guy did was give misleading information or knowledge. Yes, bitcoin can be profitable; I say can be profitable because you can't just invest and expect that you will earn from it; your friend didn't even mention what kind of investment you will make. There are a lot of ways to invest and earn in bitcoin, whether it be by holding assets, trading, crypto currency projects, bitcoin projects, or bitcoin projects, and many more.

There are a lot of ways to earn in bitcoin; what matters is, how will you invest in it? Of course, I know you know that you will need to invest time and effort, because it will take a while before you can fully grasp anything about bitcoin, and it will require your patience and effort. Of course, you will make an effort to study and gather knowledge that could help you in your bitcoin investment. Anyway, it's up to you on how you will earn in this field. That's why this forum exists: you can ask and gather all the necessary knowledge you need.

It's a good thing you already have the willingness to invest in Bitcoin but I won't recommend you drive into investing right away without knowing what you're investing into. You need to know what Bitcoin is so you'll comfortable when the price are fluctuating due to the volatility of the market and not to start panicking thinking you got yourself into a wrong investment. Bitcoin is a digital currency and a highly volatile one for that matter so the price is near stable. Dedicate your time to learning about Bitcoin by staying active on the forums especially the Bitcoin discussion section so you get useful information on how the industry is. You can also use other resources that I believe have been suggested to you to know more about Bitcoin.


Never you make investment based on the suggestion of others no matter how experienced you think they're, they might be giving you suggestions based on their own strength but as a newbie you don't have their level of patience to hodl or extra money to handle things to make you avoid selling your Bitcoin when things get tough. You have to understand how to secure your wallet before you buy Bitcoin, you need to know which wallet is best to use so you don't regret your decision when it's time to sell and you can find the Bitcoin you stored because they have been stolen by hackers. You also don't need to invest all your money at the same time, you can DCA while you keep learning about Bitcoin.

Asking other people for help in buying assets in the form of Bitcoin is certainly a very bad thing, because it is possible that these people can take advantage of our lack of understanding about Bitcoin and make a profit for themselves, it would be better for us to seek knowledge about the basics of Bitcoin investment so that we can do it ourselves and only ask people we can trust if we don't understand the investment we are making.
Of course, a very important thing to do when investing in Bitcoin is to be able to properly protect the Bitcoin wallet address and not tell anyone about the initial phrase to anyone except family whom we can trust.