Understanding the Bitcoin Market

[sashavich04]

what are the essential steps of acquiring some Bitcoin knowledge ?

[PALM]

The best way to understand Bitcoin is to use it. Ask around with people you know and someone might show you, but maybe start with some YouTube videos or watch a documentary. Start with a mobile or light web wallet, try to buy a small amount maybe through localbitcoin dot com. Learn what makes wallets secure and how to backup and recover them. Then look at the different exchanges operating here. Then work on understanding how bitcoins are created, then how the network operates. Buy the hype and sell the news ;)

[Aya]

The best way to understand Bitcoin is to use it. Ask around with people you know and someone might show you, but maybe start with some YouTube videos or watch a documentary. Start with a mobile or light web wallet, try to buy a small amount maybe through localbitcoin dot com. Learn what makes wallets secure and how to backup and recover them. Then look at the different exchanges operating here. Then work on understanding how bitcoins are created, then how the network operates. Buy the hype and sell the news ;)

I agree. Reading articles and watching all the tutorials are important. But the most effective way to really know what is going on in the Bitcoin world is to put yourself inside the market itself. Make yourself involved while not compensating caution.

[Sendo12]

My suggestion is to read a lot first. You need basic knowledge such as the meaning of the terminologies. But this will help you only in terms of understanding Bitcoin as a concept. In order to understand how the market moves and such, you will need to indulge yourself to the real practice of trading.

[Trader_Rob]

Practicing is really what made me fully understand the market. In fact, until now I am still learning. I get to learn something new in every mistake I make and I apply those lessons on my next movements.