Bitcoin Deposit Strategy for Beginners!

ndutndut

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Quote from: Zigabel on November 11, 2024, 09:51:47 AM

This is a very good and effective way of stacking up especially for newbies but for those who have got huge holdings and would want to get into the Bitcoin market already, grey may not need go through this DCA hassle except they would want to DCA on a different scale probably with higher units stacking where they can end up with very huge stacking long after a whole while but with this smaller units, most definitely its not going to be same as those stacking at higher and bigger units all at once.

In investing in the crypto world, we must first change our mindset, what we should get and what our targets are. Of course, not always pursuing quick profits. However, how to invest in crypto for the long term to be effective in building wealth and achieving our financial goals in the future. And with a DCA strategy like this, it is indeed very appropriate for beginners and those who are experienced in investing in bitcoin in the long term.

Because this DCA method is a Bitcoin investment strategy that is suitable for all traders because it can help build our portfolio gradually and of course can be controlled. The DCA method also eliminates the emotional aspect of trading, you don't care about the price, you buy when the time comes and you keep it and that's an investment.

DubemIfedigbo001

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Quote from: Lucius on October 28, 2024, 06:56:02 AM

Some kind of strategy is better than none, but the biggest problem for those who practice DCA is maintaining continuity even when it seems that such a strategy no longer makes sense. Likewise, life is unpredictable and it may happen that we urgently need money or we have lost our job - but we can always start anew or continue investing at a favorable moment.

This is why it is important to build your emergency funds alongside your investment. In cases like this the investor is expected to fall back to his emergency fund and survive on that for the time being while he looks eagerly for a new source of livelihood. Of course, it is possible that the investor can exhaust his emergency fund without finding his feet, then he obviously has no other option than liquidating part of his investment for survival, but in the case that he finds his feet before his emergency funds gets depleted, then he's lucky and his emergency funds has served its purpose and investment saved.

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I think that it is important for young people who are just starting an independent life to think about their future outside the box and not rely only on the fact that one day they will retire and that they will live on what the state will pay them every month. I know a lot of people who have worked for 40 years, and today they don't even have enough for a modest life.

Be smart and look for ways to prevent this from happening to you - of course, don't put all your eggs in the same basket - as there are other investments worth investing in.

Definitely, one doesn't have to grow old before getting financially aware and looking for ways to secure his financial future to aid him in later days and yes I am advocate of diversification, but not so much for easy monitoring and accountability. I tend to look favorably at agriculture and real estate while also investing seriously in bitcoin.

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From what I've learnt, think for newbies, the most important thing is for them to figure out what plans works for them based on the amount of discretionary income available to them. If none, they should work on expanding their cash flow to contain their investment, rushing to invest without first considering your cash flow and presence of discretionary income would force the new investor to fall back to his investment for survival since there is no proper foundation for their investment and that is betraying your investment even before it started.

SquirrelJulietGarden

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Quote from: rachael9385 on November 11, 2024, 02:58:41 PM

However, we need to know that without salaries (let's say anything that would give us money) we can not invest on Bitcoin. Actually, I have also seen were some folks sold part of their properties to buy (invest) Bitcoin. But my question is, what if they do not have any other thing to sell, will they stop to invest on Bitcoin and sell the Bitcoin they have bought?

Don't use all money, capital you have for any investment, and always remember the saying "Don't put all your eggs in one basket"!

Investment in Bitcoin is a great decision, it's good way of investment to be richer but it relates to many things: your family and individual financial resource for many things: daily, monthly spending, utility bills, emergency and investment, even more things.

So you will have to reserve your individual and family capital in different parts for different things mentioned above. Investment capital is only one part of your capital, by this capital management, you will not have to sell your bitcoin for cash because you always have empty hands after investing in bitcoin.

arjunmujay

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Quote from: Perfectbaby on November 12, 2024, 11:57:21 AM

Quote from: rachael9385 on November 11, 2024, 02:58:41 PM

Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?

Exactly what I wanted to ask the OP.
However, we need to know that without salaries (let's say anything that would give us money) we can not invest on Bitcoin. Actually, I have also seen were some folks sold part of their properties to buy (invest) Bitcoin. But my question is, what if they do not have any other thing to sell, will they stop to invest on Bitcoin and sell the Bitcoin they have bought?
Perhaps, the type of strategy the OP suggested is called a DCA method, but we need to understand that applying any method for investment is not the issue, the main thing is that the investor also needs a means of making money before he could buy/invest on Bitcoin if not he or she will not hesitate to sell his assets when he encounters a little difficulty.

Those who sells their personal property are risk taker although it's very hard to sell of one personal belongings to buy bitcoin, but then what is the real purpose why they are investing?
It's because investment would serves as a backup to them whenever they are in need or tight corner, but then some people do not want to temper with their investment instead they would prefer selling off their personal belongings to make sure they have some portion of bitcoin as an investment which is a good thing they have done for themselves but then, it doesn't make sense if the investment they are making can not save them when they are in need for urgency.

choosing investment by selling something he owns in my opinion is the wrong way. it is true, when the bullrun the value to be invested becomes more, but it also needs to be taken into account when the market is falling far. and at that time we also need money. of course it will be a serious problem.

therefore, it would be better if the investment would not make us think about whether it is bullrun or bearish. just keep investing no matter what happens until the investment target is achieved.

KingsDen

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There's something I discovered about DCA. I can call it the dark side of BTC. I introduced someone to Bitcoin and the person has fiat to buy on a spot but was not so confident. I also explained to him how US elections was going to affect the cryptocurrency price. So, the question was if to buy at once at 67k or go with DCA incase the outcome of USA election. Finally, he settled with using DCA, within one week, the price hit 89k, now he is regretting seriously of not going in once. I had nothing to say, but I asked him to imagine that after buying at once the price retraced to 50k.
Every method has their pros and cons.

Perfectbaby

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Quote from: rachael9385 on November 11, 2024, 02:58:41 PM

Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?

Exactly what I wanted to ask the OP.
However, we need to know that without salaries (let's say anything that would give us money) we can not invest on Bitcoin. Actually, I have also seen were some folks sold part of their properties to buy (invest) Bitcoin. But my question is, what if they do not have any other thing to sell, will they stop to invest on Bitcoin and sell the Bitcoin they have bought?
Perhaps, the type of strategy the OP suggested is called a DCA method, but we need to understand that applying any method for investment is not the issue, the main thing is that the investor also needs a means of making money before he could buy/invest on Bitcoin if not he or she will not hesitate to sell his assets when he encounters a little difficulty.

Those who sells their personal property are risk taker although it's very hard to sell of one personal belongings to buy bitcoin, but then what is the real purpose why they are investing?
It's because investment would serves as a backup to them whenever they are in need or tight corner, but then some people do not want to temper with their investment instead they would prefer selling off their personal belongings to make sure they have some portion of bitcoin as an investment which is a good thing they have done for themselves but then, it doesn't make sense if the investment they are making can not save them when they are in need for urgency.

rachael9385

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Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?

Exactly what I wanted to ask the OP.
However, we need to know that without salaries (let's say anything that would give us money) we can not invest on Bitcoin. Actually, I have also seen were some folks sold part of their properties to buy (invest) Bitcoin. But my question is, what if they do not have any other thing to sell, will they stop to invest on Bitcoin and sell the Bitcoin they have bought?
Perhaps, the type of strategy the OP suggested is called a DCA method, but we need to understand that applying any method for investment is not the issue, the main thing is that the investor also needs a means of making money before he could buy/invest on Bitcoin if not he or she will not hesitate to sell his assets when he encounters a little difficulty.

Nwada001

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Quote from: Zigabel on November 11, 2024, 09:51:47 AM

This is a very good and effective way of stacking up especially for newbies but for those who have got huge holdings and would want to get into the Bitcoin market already, grey may not need go through this DCA hassle except they would want to DCA on a different scale probably with higher units stacking where they can end up with very huge stacking long after a whole while but with this smaller units, most definitely its not going to be same as those stacking at higher and bigger units all at once.

The buying approach that has been suggested by the OP should only be applicable based on the investor's wealth; they could either invest with a much higher amount depending on what they can spare out from their earnings or they could also decrease it to a more sustainable amount as long as it's what they can afford, so even the big companies and big names that DC can go in with millions, but at the end of the day they are all trying to achieve the same goal (accumulate as much as possible as they can).

Zigabel

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This is a very good and effective way of stacking up especially for newbies but for those who have got huge holdings and would want to get into the Bitcoin market already, grey may not need go through this DCA hassle except they would want to DCA on a different scale probably with higher units stacking where they can end up with very huge stacking long after a whole while but with this smaller units, most definitely its not going to be same as those stacking at higher and bigger units all at once.

CryptopreneurBrainboss

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Quote from: AYOBA on November 06, 2024, 03:35:59 PM

Furthermore, accumulate a Bitcoins is still nevertheless but there’s know any way a person can person accumulate Bitcoin without involve money, because of there’s know money they will be know way we can able to accumulate much Bitcoins that we can even hold for long periods of times.

Depends on what you consider money to be, you can accumulate Bitcoin with you time and with other resource that you have that isn't money. Money only makes it easier but when you don't have it you shouldn't be idol and expect Bitcoin to be in your wallet.

Go out and do some works and you can demand to be paid using Bitcoin. There are some enthusiast who'll be willing to spend their Bitcoin by paying you for yours service. As you're enrolled in a campaign and being paid in Bitcoin, you can use that signature payment as your source of accumulating Bitcoin while you use other money that you receive from other hustle to take care of yourself.

Doing this will make you to not touch the Bitcoin that you're accumulating through the signature campaign or other hustle that you can do on or off the forum.

batang_bitcoin

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Quote from: AYOBA on November 06, 2024, 03:35:59 PM

Furthermore, accumulate a Bitcoins is still nevertheless but there’s know any way a person can person accumulate Bitcoin without involve money,

It is very simple, you cannot accumulate anything, Bitcoins or any altcoins without having money. Unless you trade something valuable or has monetary value for it, that's the other way for it because everything is involving money through it.

Quote from: AYOBA on November 06, 2024, 03:35:59 PM

because of there’s know money they will be know way we can able to accumulate much Bitcoins that we can even hold for long periods of times.

Well, you're underestimating everyone who has accumulated Bitcoin and held for a long time. Everyone can hold for a long period of time because it's very easy. I, myself did it and is still doing it because that's the most rewarding thing to do on this market. Take note about that it's for Bitcoin and not a lot of altcoins because there will be suggestions to say that also hold random shitcoins out there but it's more of a gamble.

AYOBA

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

Yeah this is good strategy for a beginner’s, but I think the best method is by using the Dollars cost average (DCA) that’s main method most of peoples are using to accumulate more Dallas that they will hold for long periods of time, the way price of bitcoins is going on currently those that have hold bitcoin when the price is still low price are the one that will gain huge profits this day’s.

Furthermore, accumulate a Bitcoins is still nevertheless but there’s know any way a person can person accumulate Bitcoin without involve money, because of there’s know money they will be know way we can able to accumulate much Bitcoins that we can even hold for long periods of times.

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Quote from: Ricardo11 on November 06, 2024, 12:00:54 AM

Yes I agree with you, an investor should not wait for a bear market to invest, because we can never be sure that the bitcoin market will go down in the future, the bitcoin market may go up instead of down, it just Only we will continue to lose good investment opportunities.

They can not identify it's a bear market, a bottom of bear market when it's on going and months later when it realized bear market completed and Bitcoin already rallied a lot from its bottom, they missed the bear market and bottom range for purchases.

They can not "time the market" and if they want to find bottom, absolute bottom literally, they will miss many opportunities like you said.

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So whatever the price, we just have to buy only, and think that the price you are buying Bitcoin at the moment is the best price to buy. And we really need to follow DCA to invest in Bitcoin, if we invest in Bitcoin through DCA it will give us average value in long term, so we can be more profitable. So follow DCA and plan for long term holding, you will definitely succeed.

DCA is a strategy for purchasing gradually with time, and it helps you to from missing opportunities.

DCA for purchasing bitcoin, storing bought bitcoin in open source non custodial wallet, and holding it, you will succeed in Bitcoin investment adventure.

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Quote from: Ricardo11 on November 06, 2024, 12:00:54 AM

Quote from: Mayor of ogba on November 05, 2024, 09:42:23 PM

Quote from: _act_ on October 28, 2024, 04:39:03 AM

Some people can be patient, wait and let the bear market comes before they start DCA.

I think waiting for the bear market to come before an investor starts his bitcoin investment with the DCA strategy is not a good option, and it might delay his bitcoin accumulation journey because he is not certain if the bear market will happen today or tomorrow. Since an investor will be accumulating bitcoin with the DCA strategy, it would be better if he starts accumulating bitcoin right away when his money is readily available either on a weekly or monthly basis, which will allow him to accumulate bitcoin even when it is in a bullish or bearish state. But if the investor is very concerned about accumulating bitcoin in the bear market, he can divide his bitcoin accumulation money into two equal parts, which will allow him to use one part and start accumulating bitcoin without waiting for the bear market to come, and use the second part to accumulate bitcoin when there's a bear market, which will allow him to take advantage of the market.

Yes I agree with you, an investor should not wait for a bear market to invest, because we can never be sure that the bitcoin market will go down in the future, the bitcoin market may go up instead of down, it just Only we will continue to lose good investment opportunities. So whatever the price, we just have to buy only, and think that the price you are buying Bitcoin at the moment is the best price to buy. And we really need to follow DCA to invest in Bitcoin, if we invest in Bitcoin through DCA it will give us average value in long term, so we can be more profitable. So follow DCA and plan for long term holding, you will definitely succeed.

It can be really great if investors don't wait for bearishness and start DCA with the amount of discretionary money. See Bitcoin price touched ATH today and trending to touch skyrocketing price with great speed. Investors who started DCA even 6 months ago consider their portfolio how much Bitcoin they have accumulated and how much they will tend to accumulate more as the price increases as they are more incentivized to increase their Bitcoin holdings.

Currently increasing Bitcoin holdings by buying more during price increases suggests a continuous increase as you try to stick to your strategy and stick to the DCA method regardless of price. Bearishness may still exist for more holdings in the near future and a $220 Bitcoin price forecast by 2025 may be quite reasonable.

Ricardo11

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Quote from: Mayor of ogba on November 05, 2024, 09:42:23 PM

Quote from: _act_ on October 28, 2024, 04:39:03 AM

Some people can be patient, wait and let the bear market comes before they start DCA.

I think waiting for the bear market to come before an investor starts his bitcoin investment with the DCA strategy is not a good option, and it might delay his bitcoin accumulation journey because he is not certain if the bear market will happen today or tomorrow. Since an investor will be accumulating bitcoin with the DCA strategy, it would be better if he starts accumulating bitcoin right away when his money is readily available either on a weekly or monthly basis, which will allow him to accumulate bitcoin even when it is in a bullish or bearish state. But if the investor is very concerned about accumulating bitcoin in the bear market, he can divide his bitcoin accumulation money into two equal parts, which will allow him to use one part and start accumulating bitcoin without waiting for the bear market to come, and use the second part to accumulate bitcoin when there's a bear market, which will allow him to take advantage of the market.

Yes I agree with you, an investor should not wait for a bear market to invest, because we can never be sure that the bitcoin market will go down in the future, the bitcoin market may go up instead of down, it just Only we will continue to lose good investment opportunities. So whatever the price, we just have to buy only, and think that the price you are buying Bitcoin at the moment is the best price to buy. And we really need to follow DCA to invest in Bitcoin, if we invest in Bitcoin through DCA it will give us average value in long term, so we can be more profitable. So follow DCA and plan for long term holding, you will definitely succeed.

Mayor of ogba

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Quote from: _act_ on October 28, 2024, 04:39:03 AM

Some people can be patient, wait and let the bear market comes before they start DCA.

I think waiting for the bear market to come before an investor starts his bitcoin investment with the DCA strategy is not a good option, and it might delay his bitcoin accumulation journey because he is not certain if the bear market will happen today or tomorrow. Since an investor will be accumulating bitcoin with the DCA strategy, it would be better if he starts accumulating bitcoin right away when his money is readily available either on a weekly or monthly basis, which will allow him to accumulate bitcoin even when it is in a bullish or bearish state. But if the investor is very concerned about accumulating bitcoin in the bear market, he can divide his bitcoin accumulation money into two equal parts, which will allow him to use one part and start accumulating bitcoin without waiting for the bear market to come, and use the second part to accumulate bitcoin when there's a bear market, which will allow him to take advantage of the market.

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Quote from: Jewan420 on October 31, 2024, 12:57:17 PM

I don't want to set any fixed amount for investing in DCA. Because I use the entire amount of money left over after meeting my needs for investment. It is normal that one month's investment amount will be lower or higher than another month's.

Your strategy is not bad, but i think DCA is a more disciplined strategy, you know the particular amount you are going to invest and the time you are also going to do it, be it weekly, monthly, etc.

Whereas in your own strategy, there could be months you might not be able to invest anything, prolly you had more needs that month or you had to lend someone some money, etc. Inflation is also a global problem now and as it increases, the cost of your needs increase and in turn your investment amount decreases.

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Quote from: Sim_card on October 28, 2024, 04:35:42 AM

This method of accumulating bitcoin is called Dollar Cost Average (DCA), and you can use it to buy bitcoin weekly, bi-weekly or monthly overtime. It is an effective method of increasing your bitcoin if you can be consistent with buying always to keep your bitcoin accumulation ongoing. I think if you can use $20 for every week, which is $80 or more weekly, you will have double that amount in 5 years. However, you use only use your discretionary income to invest to avoid loss.

Yes this is the DCA method and through this an investor can start depositing bitcoins in any amount within his capacity and investors should adopt this method of depositing bitcoins. Bitcoin can be a reliable way to accumulate for new investors who cannot afford to add a lump sum investment. If one tends to deposit at least $10 per week and increases the depositing tendency with increasing discretionary income each year large holdings are possible. An investment period of 4-10 years should be fixed so that the investment can reach maturity.

CryptopreneurBrainboss

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Quote from: Hatchy on October 29, 2024, 03:17:14 AM

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating. If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

There are other methods of acquiring an assets like Bitcoin that doesn't involve money but most of the method are always time consuming and you'll be exchanging your time for the asset.

You can teach and get paid in Bitcoin, those you're impacting the knowledge on will pay you in Bitcoin and you can be accumulating that way. You can also work and be paid in Bitcoin.

I know there are some works that still pay in Bitcoin. I remember working for a project that once paid me in their token and that was one way I was using to accumulate the tokens but it turned out to be worthwhile at the end. So imagine if that as Bitcoin that I was receiving, I would have saved up a large quantity.

You can do micro tasks online too and get rewarded (something like signature/bounties, Airdrop etc). You mightn't necessary receive Bitcoin but provided the reward you received can be converted to cash, you can use that to purchase Bitcoin.

Altryist

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The table simply takes into account how much money will be invested in bitcoin, but if this is carried out over several years, then most likely this strategy will affect both bear and bull markets, I mean that after the purchase, the price of bitcoin can fall and for a beginner this can be a difficult period. In general, a good example of how to start, but I think that over time, interest can grow and the investment amounts will also grow, the main thing in this matter is discipline.

Cryptohygenic

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That is a good analysis but in a simple term regarding beginners Investing on bitcoin, you can always invest with affordable amount to loose and when you think you have some spare funds such as ones you have to spend on leisure outdoors, you can minimize those liability expenses and have some invested on bitcoin.
Keeping hoping you would make it big in a long time as you invests on bitcoin. Probably by the ways you can employ some accumulating strategies when youisg have built a solid emotion that bitcoin is worth investing on with an expectation of making profit out of it when realized it is Worth a asset.

Jewan420

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Patience and hard work are the keys to success.

I don't want to set any fixed amount for investing in DCA. Because I use the entire amount of money left over after meeting my needs for investment. It is normal that one month's investment amount will be lower or higher than another month's. I think in this method of investment an investor gets full freedom to decide his investment amount. But the chart you have shown can be useful for a newbie investor. But this amount of investment should be determined depending on his income or depending on his situation.

CryptoHeadlineNews

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

Yes, this is a very good Bitcoin investment strategy, as you stand the chance to benefit more than if that same money kept in fiat currency, because due to the constant depreciation of our local fiat currencies, it's a wise decision to keep funds in Bitcoin, where you stand the chance to gain more if it's price skyrocket. But however, if a user could be consistent to invests $10 weekly in 5yrs, in a month (i.e 4wks) he/she should be having $40, and likewise in a year (52wks) he/she should be having roughly $520. Then in 5yrs, that should be roughly $2600, of which you still stand the chance of earning higher if the price skyrocket.

Roseline492

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

Your strategy is okay but however I would have suggested that you target on one year and if after the one year you realize that you were very consistent on the amount you were using on the weekly basis then you can think about using the amount you intend to use on the second year pending on how the salary is coming because not everybody that can even meet up with $10 weekly even if they have the intention of using such amount in a week because finance will always be the problem, so actually I have consider the idea of just investing and if I'm short of funds I will hold on a bit and continue when I have refilled again and any amount of Bitcoin I was able to achieve within a year I will be happy and continue investing.

Z_MBFM

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible

This strategy definitely good but However, not everyone has the ability to follow such a routine investment. Because at the current rate of inflation and the cost of everything going up at a massive rate, it is very difficult to save from a job while earning a salary. But if someone can do it then surely it will be good for him. and the rate at which the price of Bitcoin is going up will make it more expensive in the future then Bitcoin will move out of our realm. so those who continue to invest in Bitcoins following DCA will make incredibly good profits in the future. So I definitely supported strategy

liasbaa

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Clearly it's the DCA method that the op didn't mention in his post. Yes investors of every level from newbies can deposit bitcoins easily with this method. However, if the investor can manage his reliable income ratio regularly, he can profit a lot. My question is if one does not have excess discretionary income should one withdraw from investing or depositing bitcoins? I think there is no good system for poor people to own bitcoins.

But I also think that if the poor man has the inclination to start with $2 a week and gradually increase his deposit, he should not be discouraged. Later on he may run more DCA deposits of bitcoins and grow more over time.

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This is one of the common strategies right now for people doing a DCA which is to invest with the current price of the bitcoin and just wait for the long term like ATH to make a withdrawal which is a good strategy for the people who don't actively check the market and don't get carried away with their emotions with the market volatility. I recommend at the same time having this strategy, but if you want to get more active with your gains and grab the market volatility do some squeeze with the market like buy low and sell high, and next once you are now getting more knowledge and skills with that strategy you can try with the futures trading this you can earn a lot more depends on how much you will risk with the capital and leverage.

Odohu

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Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

This is the question many people are not asking because without a stable source of income, it is a lost battle trying to accumulate Bitcoin. Even of the investor manages to buy Bitcoin but do not have the cashflow to protect the investment, there are high chances that the investment will be liquidated. As much as buying Bitcoin sounds so interesting and motivating, we have to put effort to tell people that they need to fix their finances first so they will have the part they can set aside for investment in Bitcoin. DCA method is a wonderful method but it is best for those who have regular income like those in business or earning from paid employment. These are the people that can systematically work out what part of their income they can invest in Bitcoin without being under financial pressures that can make them sell their investment when they did not plan to.

Perfectbaby

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Quote from: Hatchy on October 29, 2024, 03:17:14 AM

Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating. If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

That is why it's always advisable to used an amount that won't affect their overlife performance, were they would have to go to an extent of putting themselves in a very wrong and tight corner just in the name of making investment, although it's actually cool adopt to the technology on time but holding some Satoshi's but then it there should be a stable income that would financed the whole process be it DCA, one time off or any other strategy that would be implemented to bitcoin investment.

Lucius

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Quote from: Solosanz on October 29, 2024, 02:10:08 AM

~snip~
While I'm cooking for myself everyday, still using the same clothes which I bought 2 years ago, still using the same phone which I bought 4 years ago, still using the same motorbike which I bought 10 years ago.

I don't see anything wrong with all of this, and regardless of what I can afford maybe more than others, I still have a smartphone that I bought 4-5 years ago, I cook at home and I don't buy clothes just to have drawers full of unnecessary things. I think that we simply very easily fell into the trap of consumerism, which is not only good for our finances, but has a disastrous effect on our entire planet.

If people knew how many resources are needed to produce one pair of pants or a T-shirt, they might stop and think about whether they want to follow fashion or live healthier than they do today. Instead of spending on unnecessary things, everyone should consider investing their money more wisely - I'm not saying that Bitcoin is the only thing to invest in, but it is certainly one of the options that should be considered.

laijsica

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Quote from: Hatchy on October 29, 2024, 03:17:14 AM

Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating. If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

I totally agree with you. DCA is a simple method for depositing Bitcoins and can be an effective method for investors of any level. If a person has a reliable source of income and discretionary income at the end of the week he can run any size deposit and with long term management an investor can get a decent sized portfolio. Having a reliable source of income is very important for an investor because if his source of income and discretionary income are comparatively less then the process of starting investment should be delayed.

Another thing to keep in mind when investing in Bitcoin is to create a backup fund that can meet the emergency needs of the long-term investment without withdrawing the invested capital for the fund investor. Investing in Bitcoin should stick to a long-term investment plan to minimize investment risk.

AirtelBuzz

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

The Bitcoin deposit strategy for beginners that you've discussed extensively is called the Dollar Cost Averaging (DCA) method. Through this method any investor can buy and deposit any amount of Bitcoins as per his ability. Using the DCA strategy, an investor can purchase $10, $20, or even $50 or more to invest in Bitcoin on a weekly, monthly, or quarterly basis. Basically this method is most effective for those who cannot afford to buy large amounts of bitcoins at once.

Moreover, if you adopt the DCA strategy, you don't have to wait for the market to be dip all the time, Before investing using this strategy you need to ensure a fixed source of income through which you can continue to invest consistently.

Hatchy

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Quote from: Perfectbaby on October 28, 2024, 06:05:12 AM

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating. If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

Kelward

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Quote from: Sim_card on October 28, 2024, 04:35:42 AM

This method of accumulating bitcoin is called Dollar Cost Average (DCA), and you can use it to buy bitcoin weekly, bi-weekly or monthly overtime. It is an effective method of increasing your bitcoin if you can be consistent with buying always to keep your bitcoin accumulation ongoing. I think if you can use $20 for every week, which is $80 or more weekly, you will have double that amount in 5 years. However, you use only use your discretionary income to invest to avoid loss.

DCA method is no doubt the most effective method to accumulate and grow your Bitcoin investment, if you're disciplined and focused on achieving long term ROI. Most low and average income earners who don't have the funds to do one time huge accumulation, can gradually grow their bags and within some years they will accumulate a huge amount of Bitcoin. Although the best time to accumulate Bitcoin is during bear run, but why wait till bear run when you have the money to accumulate during bull run. If your goal is hodl for many years, you won't worry much about the present price, you'll know that it'll still give you high ROI in the future.

Solosanz

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Quote from: lovesmayfamilis on October 28, 2024, 08:46:55 AM

How quickly do people age in your country? And what about the fact that after five years a person becomes a professional, and his experience begins to be worth more than it was at the initial stages? I am more inclined to believe in this than the fact that people become unclaimed after five years. It is also strange to see that you allocate most of your money to buying bitcoins. May I ask, what do you live on? If you have parents, then in this case, I do not welcome living at their expense. I do not see the value in standard in terms of price investments in bitcoins. We are all living people, and our needs grow at different times in different ways. In the same way, being too frugal to make a profit in the future is also not entirely correct. Live so that at the end of life you can remember without regret that everything you have accumulated did not spoil your health or your dreams.

It's quick compared to other countries.

Here, most companies only accept <30 years people to work, if you're hit 30 years old, you're high unlikely can work in white collar jobs. Most companies will fire their employees at 40 years old due to low performance, while there are many young unemployment can work better and willing to receive less salary.

Having 5 years work experience doesn't always mean your skill are still relevant with the current demand. Average graphic designer is the example, instead of hiring them, people choose to use AI to create average artwork for them.

I live alone, my parents live in their house, I pay my own rent, maintenance, food, that's.

I can't say I'm too frugal, but I'm comfortable with the way I live. If other people having a dinner at restaurant every week, buy new clothes every month, changing their phone every 6 months, changing new car every year.

While I'm cooking for myself everyday, still using the same clothes which I bought 2 years ago, still using the same phone which I bought 4 years ago, still using the same motorbike which I bought 10 years ago.

Marykeller

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As we can have this called DCA ways of investment, which seems to be the best way to accumulate Bitcoin for the long term, let's keep in mind that this DCA strategy can be put a stop to or increased depending on one finances. But if one manages to be consistent and sees to the end of their long term plan of investing in Bitcoin through the DCA strategy, the profits that they are to make, are always mind-blowing that they will love to share with others how they invested with the little amount they have, and stick to that for years

tabas

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It is a good strategy, DCA, and a nice graph you've made OP by accumulating in dollar value of a depositor. So, this thread is mainly about bitcoin deposits and does not include the potential gains and the volatility of how much bitcoin can be with its fluctuating. I tell you did a good job but it will be better if you could add a table on the graph on how much potential gains a person will get based on the projected price from the next 2-years compared to the current price when the $10-$20 purchase was done. But if you think that's not necessary, this is telling everyone that our own Bitcoin is our own savings.

avp2306

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

You have good strategy posted there and if people will be just consistent enough to follow that DCA method and know to handle well the situation occur in the industry for sure that they succeed on that plans you input and gain something from what investment choice they do.

Its just we need to be consistent so that everything plan will not be in our mind and we can execute well those strategy to have possible best result for long term investment with bitcoin.

Unfortunately there's only few people especially for newbie notice this since majority of them want short term gains and they realize late that this is dangerous especially if the one caught up their interest are shitcoins or memecoins since provably that huge chance for them to fail since lots of scams are happening with those tokens.

Churchillvv

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Perhaps we all know that this strategy is called DCA and of course it's the most convenient method of investing in bitcoin and perhaps it's probably the best for so many reasons which comfort is the core derive but it's not the only strategy.

Every other investment strategy is as important as this method because all fingers are not equal and some do not earn monthly or weekly so they can make use of every other strategy such as Buying the Dips and Lump sum.

The difference I would want to propose is that every bitcoin investment method is as important as each other never let one strategy keep waiting from investing. if you have it all now (lump sum) buy as you can afford, if you don't and want to buy when the price is relatively low (buy the dips), if you have a job and you earn regulay but can't afford to invest then set a portion of your income just for the investment and DCA. Achieving the investment should always be the goal, so what ever suits you then apply it.

Aanuoluwatofunmi

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stead.builders

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

I see this as more related to the use of DCA investment pattern and it will be more accurate for us to invest directly in bitcoin while making our holdings and keep on with the buys on dip, this will effectively help in other for us to continently have savings through our investment and also hold them for future profitability, those interested in the use of this investment pattern can learn more about DCA from the link below.

DCA Bitcoin
https://dcabtc.com/

Adbitco

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

DCA is the best method because with gradual accumulation process you would definitely ends up acquiring enough volume of bitcoin, and the amount is very low sometimes covering up fee could be very hard because withdrawal from exchange account to non-custodial wallet are very high, except buying from p2p which can only spent about 0.47$ maximum except the mempool is congested.

Zaguru12

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Quote from: Lucius on October 28, 2024, 06:56:02 AM

Some kind of strategy is better than none, but the biggest problem for those who practice DCA is maintaining continuity even when it seems that such a strategy no longer makes sense. Likewise, life is unpredictable and it may happen that we urgently need money or we have lost our job - but we can always start anew or continue investing at a favorable moment.

I think that it is important for young people who are just starting an independent life to think about their future outside the box and not rely only on the fact that one day they will retire and that they will live on what the state will pay them every month. I know a lot of people who have worked for 40 years, and today they don't even have enough for a modest life.

Definitely agree with you, one needs to plan their future before retirement sets in and even though bitcoin is a bit volatile I would say it should be one of the assets to look into reason been that it is easily one of those you can get a little amount to gradually invest into rather than all this other assets that requires huge capital.

As for DCA method I see many people always insisting that someone cannot be consistent and I usually say I don’t actually think one must be consistently invested same amount every time, you can simply just invest every time there is spare money to invest been it higher or lower. Skip some periods when it’s tough for you or maybe in periods of hardship. One shouldn’t deprive themselves basic needs just to stay consistent in the DCA.

jcojci

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That is a good strategy to invest in Bitcoin for beginners. However, they must adjust their money that they can use to invest and your illustration can be a good example for them to start. Many people who used DCA methods prove that methods works good for them so that can be a guide for the other beginners to start investing in Bitcoin.

The hard things that they should concern is continuously invest in Bitcoin because that can makes them feel boring to do the same thing over and over every week or month. That is what they should eliminate if they really serious with Bitcoin investment.

bias

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Quote from: Solosanz on October 28, 2024, 04:55:56 AM

Over time your skills will increase, but your colleagues skills also increase and better than you, then you get fired.

You're applying on the same jobs in the previous companies you work, but no one accept you because you're already too old and there are many young people who willing to get paid less than you for working the same jobs.

Instead of investing $60 in 5th year, you're actually taking off your investment because you're an unemployed and need money to survive.

If everything goes as you described above, then everybody will stay in the same job, get the same money, do the same things, get fired and nothing will ever change.
Life is life, and it's not the same for everybody. This strategy is good because it is based on logic. Piece by piece someone can create a bigger portfolio of BTC or any other asset and if have patience go even bigger.
Of course, losing your job or having an unexpected bad situation can affect this strategy and your entire life, but it wasn't created based on unfortunate events or bad things in general. Plus, you don't dream the worst but the better. Wink

lovesmayfamilis

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Quote from: Solosanz on October 28, 2024, 04:55:56 AM

For me, better to save as much as possible without need to looking for achieving certain amount. In my case, I'm able to saves like 80%-90% per month and I have no goals for doing that.

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

It's easier to said than be done.

Over time your skills will increase, but your colleagues skills also increase and better than you, then you get fired.

You're applying on the same jobs in the previous companies you work, but no one accept you because you're already too old and there are many young people who willing to get paid less than you for working the same jobs.

Instead of investing $60 in 5th year, you're actually taking off your investment because you're an unemployed and need money to survive.

How quickly do people age in your country? And what about the fact that after five years a person becomes a professional, and his experience begins to be worth more than it was at the initial stages? I am more inclined to believe in this than the fact that people become unclaimed after five years. It is also strange to see that you allocate most of your money to buying bitcoins. May I ask, what do you live on? If you have parents, then in this case, I do not welcome living at their expense. I do not see the value in standard in terms of price investments in bitcoins. We are all living people, and our needs grow at different times in different ways. In the same way, being too frugal to make a profit in the future is also not entirely correct. Live so that at the end of life you can remember without regret that everything you have accumulated did not spoil your health or your dreams.

hd49728

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

What you are doing or plan to do is investment with Dollar Cost Averaging (DCA).

You don't actually need to create your own sheet, there are tools for you.
https://dcabtc.com/
https://costavg.com/
https://www.bitcoindollarcostaverage.com/
https://www.cryptodca.org/

You can DCA out too.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

ImThour

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You call it Deposit Strategy or Dollar Cost Averaging, it's the greatest way to increase your capital. I have a modified way of DCA (I do Technical Analysis) where I take account of several metrics and then DCA, making the best of the moment. For example when BTC recently went down below $50k, I was able to accumulate more as per my analysis. In the end, both techniques will help in the long term.

bangjoe

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

That is a good presentation and you calculated it enough for beginners, but I suggest you add the transaction costs that must be paid for each bitcoin purchase in the above example, because it is also very important for investing in bitcoin, so beginners here know how much value they can get from each transaction they buy, it will be much more ethical in my opinion, because they will know how much it costs if they use this strategy.

EluguHcman

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That is strickly DCA accumulating method that enhances investors to realize huge amount of Bitcoins to their holding on a gradual process of acquaintances.

This method does not only favour beginners but every investors that feels not satisfied with the amounts of their acquired assets but has a regulatory orders on expanding their holdings while already set a minimum period of time to hold in respective of making profits in due time of better preparing against retirements.

Sanitough

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A 5-year investment strategy is quite impressive, especially with the annual increase in purchases, which shows you're gaining confidence even in a bearish market that typically follows a bull run. With institutional investors entering the market, there’s a likelihood that Bitcoin’s price will become less volatile, which might help maintain your confidence moving forward.

However, you should adopt a "HODL" mentality and be prepared to withstand the worst market conditions. This is often just a tactic by whales to shake the market and force weak hands to sell. I hope that doesn’t happen to you, and that you find inspiration to invest every week, regardless of the market conditions.

Lucius

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Some kind of strategy is better than none, but the biggest problem for those who practice DCA is maintaining continuity even when it seems that such a strategy no longer makes sense. Likewise, life is unpredictable and it may happen that we urgently need money or we have lost our job - but we can always start anew or continue investing at a favorable moment.

I think that it is important for young people who are just starting an independent life to think about their future outside the box and not rely only on the fact that one day they will retire and that they will live on what the state will pay them every month. I know a lot of people who have worked for 40 years, and today they don't even have enough for a modest life.

Be smart and look for ways to prevent this from happening to you - of course, don't put all your eggs in the same basket - as there are other investments worth investing in.

Perfectbaby

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Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

Solosanz

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For me, better to save as much as possible without need to looking for achieving certain amount. In my case, I'm able to saves like 80%-90% per month and I have no goals for doing that.

Quote from: Olatundespo on October 28, 2024, 04:22:30 AM

Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

It's easier to said than be done.

Over time your skills will increase, but your colleagues skills also increase and better than you, then you get fired.

You're applying on the same jobs in the previous companies you work, but no one accept you because you're already too old and there are many young people who willing to get paid less than you for working the same jobs.

Instead of investing $60 in 5th year, you're actually taking off your investment because you're an unemployed and need money to survive.

_act_

legendary

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It is called DCA which is dollar cost average. It is a good way to accumulate an asset that is increasing value like bitcoin. But it is not only the best strategy. Some people can be patient, wait and let the bear market comes before they start DCA. They will not just be investing at all time but only during bear market. Also some people can buy huge amount of coins after every significant bear market.

Sim_card

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This method of accumulating bitcoin is called Dollar Cost Average (DCA), and you can use it to buy bitcoin weekly, bi-weekly or monthly overtime. It is an effective method of increasing your bitcoin if you can be consistent with buying always to keep your bitcoin accumulation ongoing. I think if you can use $20 for every week, which is $80 or more weekly, you will have double that amount in 5 years. However, you use only use your discretionary income to invest to avoid loss.

Olatundespo

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Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

Topic: Bitcoin Deposit Strategy for Beginners! (Read 639 times)