Bitcoin Investing - DCA - page 2. | Bitcointalksearch.org

darkangel11

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Quote from: Bartello on December 06, 2023, 01:38:58 PM

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

My advice is that you should forget about all the shitcoins. It's tempting when you see doge, xrp, eth or cardano pump but you have to realize that these are gambling bets. All of these coins are shitcoins that the team is constantly dumping on poor souls that buy them and these are all securities so it's a matter of time before they get fined by the SEC.

Hoskinson is a psycho with delusions of grandeur who likes to tell tales about special forces and such.
Buterin sold a lot of his personal ETH in the recent years dumping it all on investors.
Garlinghouse constantly sells XRP to pay fees and wages of his team and dogecoin was pumped and dumped by Musk in 2021.

Do you really want to put your money in these? Just get as much bitcoin as you can and you'll be safer.

uchegod-21

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Quote from: Bartello on December 06, 2023, 01:38:58 PM

Hi All,

I currently have between £300 - £400 left over each week from my salary in which i have been transferring in to a savings account with 4.75% interest,

This weekly leftover is very huge and not even what people from my country earn monthly. I don't know when you started to be sending them to a savings account of 4.75% interest. Let us assume you started this year and assuming you were sending it into Bitcoin, you will definitely be on 100% plus profits.

Quote from: Bartello on December 06, 2023, 01:38:58 PM

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

I actually do not have much to say here but I will remind you that bitcoin is the king. So, in your portfolio, give king the lion share and all will be fine.

Quote from: Bartello on December 06, 2023, 01:38:58 PM

i currently hold 0.096* ETH & 0.0057* BTC and have been seriously considering investing more but not sure if the amounts i have available make this worth while?

I can say that 0.0057 BTC is a way too small holding for someone that has leftover of over $300 weekly. Although, it is advised to invest what you can afford to lose, but in your own case, it seems you don't trust BTC.

terrific

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Any amount that you DCA is worth it. Don't make it look like that you have nothing wherein fact that you are holding a good amount of ETH and BTC.
Think of the others that don't even started yet but they keep saying to DCA and they don't hold anything. No actions have been made and they're all there only for the words.

Stalker22

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Quote from: Bartello on December 08, 2023, 02:17:42 PM

Thanks for your input - I do a fair bit of reading up on the alts and will likely invest a small % in the future, but I'd like to maximise the amount I invest in BTC to ensure I get a decent holding. I had ADA, XRP,XLM,DOGE,SHIB and a few others which totalled like £300 or so which I sold and purchased ETH (small gains). I intended to invest weekly and split across my portfolio, but wasn't confident of the risk / reward etc..

I would suggest putting all your extra money into Bitcoin. Since you are new to crypto, the more well-known BTC is a safer starting point than less proven track record of some altcoins. But like with any investment, be sure to do your own research and maybe start small. No matter what you decide, only invest what you can afford to lose. Crypto tends to be volatile so approach with caution until you better understand the risks and potential rewards.

Bartello

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Quote from: Jegileman on December 08, 2023, 05:47:12 AM

Quote from: Bartello on December 06, 2023, 02:08:36 PM

Quote from: Husires on December 06, 2023, 01:58:23 PM

Buy now with all the money you have that you do not need instead of investing in altcoin, waiting for it to pump and trying to buy Bitcoin. The price may currently be high, but it will inevitably be much lower than what the price will be in the coming months, so investing now in Bitcoin may not be a high-risk investment. Compared to 4.75% interest

Thanks for the reply - in your opinion would it be beneficial for me to split between the two coins or just invest 100% of the spare funds into BTC? i'm a newbie obviously but from what i have read so far it can't be too bad of an idea?

It won’t be a bad idea but if I was in your position, I would consider how much risk I will be willing to take when I invest in altcoins. No one said investing in altcoin is bad, it is just that they’re very risky investment that could make you lose hope in cryptocurrency when they don’t perform well as you’ve envisioned them to do. There are a lot of altcoin that have been doing well but that is not still an assurance to invest in them. Calculate the risk you’re willing to take into this investments before investing. If I were you I will split it 80-10, so that when I fail in the altcoin investment and don’t get the profit I expected, bitcoin investment can compensate for the loss.

Thanks for your input - I do a fair bit of reading up on the alts and will likely invest a small % in the future, but I'd like to maximise the amount I invest in BTC to ensure I get a decent holding. I had ADA, XRP,XLM,DOGE,SHIB and a few others which totalled like £300 or so which I sold and purchased ETH (small gains). I intended to invest weekly and split across my portfolio, but wasn't confident of the risk / reward etc..

Finestream

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Quote from: Bartello on December 06, 2023, 01:38:58 PM

Hi All,

I currently have between £300 - £400 left over each week from my salary in which i have been transferring in to a savings account with 4.75% interest, but recently i began to invest small weekly amounts into the popular alt coins (£50-£100) as i'm a fairly risk averse person by nature. I have recently sold those coins in my portfolio at break even or at best with small gains and re-invested the money into BTC & ETH.

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

i currently hold 0.096* ETH & 0.0057* BTC and have been seriously considering investing more but not sure if the amounts i have available make this worth while?

For me, you don't need to split your funds but invest all in into bitcoin most especially that we are heading into bitcoin halving, and it would be best if you have maximum investment for bitcoin than altcoins. Bitcoin will skyrocket in less time and will reach another all time high, so just imagine how massive the profits you will gain when that time comes. Just invest into Ethereum when you have had profits already and when the market turns bearish.

That is only based on my own point of view. At the end of the day, your money, your rules, your own choice of investment.

Bartello

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Quote from: traderethereum on December 08, 2023, 05:00:54 AM

Quote from: Bartello on December 07, 2023, 09:33:07 PM

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

It is a good decision to use 70% of your remaining salary. But you have to recalculate before you actually use it so that there are no mistakes. Moreover, you still have to prepare some money for something unexpected.
Most people don't expect anything unexpected or they would use a lot of money to invest in bitcoin. They think they can make huge profits in the future.
It's true that they think like that, but they also have to estimate how much money they need to survive and meet their daily needs.
If you are ready with everything, including having allocated funds for each need, then you can use the money to invest in bitcoin.

I have been putting 100% of what is left from my outgoings directly into a savings account for like 5 months, so I have a decent chunk saved at the moment and quite literally sit down each week and plug in the numbers into a spreadsheet I made to work out my budget for the following week (my take home varies depending on how many hours I work), so now I plan to split as above. My thinking behind this is that my BTC investment is for the long term, but my savings are for the mid-long term that I can withdraw from etc - It may be true that in the long term the % gained from BTC could surpass that of my bank savings, but I want to be disciplined with both and give myself options and not struggle day to day.

Jegileman

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Quote from: Bartello on December 06, 2023, 02:08:36 PM

Quote from: Husires on December 06, 2023, 01:58:23 PM

Buy now with all the money you have that you do not need instead of investing in altcoin, waiting for it to pump and trying to buy Bitcoin. The price may currently be high, but it will inevitably be much lower than what the price will be in the coming months, so investing now in Bitcoin may not be a high-risk investment. Compared to 4.75% interest

Thanks for the reply - in your opinion would it be beneficial for me to split between the two coins or just invest 100% of the spare funds into BTC? i'm a newbie obviously but from what i have read so far it can't be too bad of an idea?

It won’t be a bad idea but if I was in your position, I would consider how much risk I will be willing to take when I invest in altcoins. No one said investing in altcoin is bad, it is just that they’re very risky investment that could make you lose hope in cryptocurrency when they don’t perform well as you’ve envisioned them to do. There are a lot of altcoin that have been doing well but that is not still an assurance to invest in them. Calculate the risk you’re willing to take into this investments before investing. If I were you I will split it 80-10, so that when I fail in the altcoin investment and don’t get the profit I expected, bitcoin investment can compensate for the loss.

DabsPoorVersion

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Quote from: Bartello on December 07, 2023, 09:33:07 PM

Quote from: MFahad on December 07, 2023, 01:46:19 PM

Quote from: pinggoki on December 06, 2023, 10:39:42 PM

I say that it would do you better to just invest in bitcoin only, maximize the potential profit by buying more right now when the price is just starting to run hot with the anticipation of the bull run and with the halving still in the near future, best believe that you're going to be better off investing in bitcoin only. I'm not saying it's bad that you're investing in Ethereum but think about it, there's going to be an altcoin season after a bitcoin bull run anyway, it's wise to go for taking a profit at bitcoin first and then trying to get in Ethereum after.

Bitcoin can be beneficial if we put all amount in it because we will not be in trouble that by minimising its price we will see loss but we have a strong believe that whenever price downs then upward movement happen more stronger than previous. Choosing only bitcoin is free of risk but there are also some alternatives altcoin which can develop your capital well.

Sometimes Bitcoin price remains in the same position but altcoins develop more and more so if someone diversify investment then taking profit from any coin will be better for him while leave the remaining coin for longer term so in my opinion choosing different coins will be better.

Thanks for your reply - I can see the merits of diversification, but for a beginner such as myself I struggled to choose alts that added value / strength to my portfolio - I guess this was following the hype etc which damaged my profits, so I've decided that my strategy for the long term is to invest in BTC by making weekly purchases, but maybe somewhere down the line I may choose to reduce the % of BTC and purchase some alts - I've read that SOL and ETH could be wise choices?

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

That's why it is advisable especially for newcomers to invest purely in Bitcoin to avoid the struggle that you are getting. Choosing other altcoins as an additional asset for your portfolio is not an easy task, you have many things to consider and do research from scratch as you still have no idea of what you're investing. But a little advice for you, spend even a little of your time researching so you can invest in other altcoins sooner or later if you are interested in it.

Your plan to invest only 70% of your salary and set aside 30% for future use is a good idea. Or maybe you might want to consider dividing your 70% salary into 4 and use the 1/4 every week to invest in Bitcoin. This way, you can have more potentital to buy Bitcoin at different price and can be more profitable in the long run.

traderethereum

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Quote from: Bartello on December 07, 2023, 09:33:07 PM

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

It is a good decision to use 70% of your remaining salary. But you have to recalculate before you actually use it so that there are no mistakes. Moreover, you still have to prepare some money for something unexpected.
Most people don't expect anything unexpected or they would use a lot of money to invest in bitcoin. They think they can make huge profits in the future.
It's true that they think like that, but they also have to estimate how much money they need to survive and meet their daily needs.
If you are ready with everything, including having allocated funds for each need, then you can use the money to invest in bitcoin.

Bartello

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Quote from: MFahad on December 07, 2023, 01:46:19 PM

Quote from: pinggoki on December 06, 2023, 10:39:42 PM

I say that it would do you better to just invest in bitcoin only, maximize the potential profit by buying more right now when the price is just starting to run hot with the anticipation of the bull run and with the halving still in the near future, best believe that you're going to be better off investing in bitcoin only. I'm not saying it's bad that you're investing in Ethereum but think about it, there's going to be an altcoin season after a bitcoin bull run anyway, it's wise to go for taking a profit at bitcoin first and then trying to get in Ethereum after.

Bitcoin can be beneficial if we put all amount in it because we will not be in trouble that by minimising its price we will see loss but we have a strong believe that whenever price downs then upward movement happen more stronger than previous. Choosing only bitcoin is free of risk but there are also some alternatives altcoin which can develop your capital well.

Sometimes Bitcoin price remains in the same position but altcoins develop more and more so if someone diversify investment then taking profit from any coin will be better for him while leave the remaining coin for longer term so in my opinion choosing different coins will be better.

Thanks for your reply - I can see the merits of diversification, but for a beginner such as myself I struggled to choose alts that added value / strength to my portfolio - I guess this was following the hype etc which damaged my profits, so I've decided that my strategy for the long term is to invest in BTC by making weekly purchases, but maybe somewhere down the line I may choose to reduce the % of BTC and purchase some alts - I've read that SOL and ETH could be wise choices?

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

MFahad

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Quote from: pinggoki on December 06, 2023, 10:39:42 PM

I say that it would do you better to just invest in bitcoin only, maximize the potential profit by buying more right now when the price is just starting to run hot with the anticipation of the bull run and with the halving still in the near future, best believe that you're going to be better off investing in bitcoin only. I'm not saying it's bad that you're investing in Ethereum but think about it, there's going to be an altcoin season after a bitcoin bull run anyway, it's wise to go for taking a profit at bitcoin first and then trying to get in Ethereum after.

Bitcoin can be beneficial if we put all amount in it because we will not be in trouble that by minimising its price we will see loss but we have a strong believe that whenever price downs then upward movement happen more stronger than previous. Choosing only bitcoin is free of risk but there are also some alternatives altcoin which can develop your capital well.

Sometimes Bitcoin price remains in the same position but altcoins develop more and more so if someone diversify investment then taking profit from any coin will be better for him while leave the remaining coin for longer term so in my opinion choosing different coins will be better.

Bartello

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UPDATE -

Thanks for all the replies so far guy's i really do appreciate your time and i've learned a fair bit already. Earlier today i sold my ETH and will sell my BTC and move over to Etoro later when i get paid and will purchase £500 BTC to get me on my way. I am currently working on my budget sheet to increase the money invested into coins vs savings accounts.

Is Etoro a solid choice for someone such as me in the UK? correct me if i'm wrong but they charge 1% fees? i was going to use Kraken but until i can figure out how to get my funds on to the platform i can't incur those fees for visa payments - purchasing £170 BTC incurs a £10 fee Shocked

tjtonmoy

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Feel free to do whatever you want to do. It's your asset and you have every right to spend it the way you like it. As for my personal preference, I don't like alt coins. When I am looking for a long-term investment plan, I will never guess on something that is centralized. Those things that are centralized good face many kinds of difficulties if there's any problem with it. Most likely government interference.

The Bitcoin halving is coming near and that will push Bitcoin more and there's a potential bull market coming. As far as I know, it will push Bitcoin market first and then following this the other coins will pump as well. But Bitcoin comes first. So I will most likely put all my focus into Bitcoin investment and after I make profit out of it, I will use that profit amount to invest into other coins so that I can play it safe.

This is my personal plan and I am not advising you to do the same. And about the DCA. Keep doing it and you will see the benefit in the long run. Don't give up in the midway.

Bartello

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Quote from: Orpichukwu on December 07, 2023, 01:57:48 AM

If Eth and BTC are what you are only considering investing in, then I think you are one step closer to the right direction, because a lot of altcoins out there are not worth our penny to be invested in, and looking at the use case of Eth and how large its smart contract is, we can both believe that it's worth our investment. On the other hand, you also need to hold some BTC, and now you don't know how to share the money to get the best out of these two currencies on your table.

If I'm to be in your position, the best thing that I can do is look at the currency trend and price increase of BTC, with halving being around the corner and BTC ETF close to being approved. I will spend up to 60–70% of those holdings into BTC, and the rest of the money can be used to buy ETH. Let it not be as I miss out completely on Eth. Based on how I have watched the market these past few days, the price of Eth has been responding both negatively and positively in proportion to bitcoin price movement.

That was pretty much my thought process behind splitting some of my investment into ETH to be honest, but i'm really in two minds what to do and have spent a fair bit of time mulling over the decision today.

I have looked at other options in terms of a platform to actually purchase both as my bank charges around 5% i believe? so i now have Etoro + the wallet & Kraken & Trust Wallet but my bank isn't natively support by Kraken so i'd have to do manual transfers which i can't figure out at the moment as the visa fees equal to around 5% too Angry

so in light of this i think i'm going to choose Etoro as my platform and use their wallet.

Orpichukwu

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If Eth and BTC are what you are only considering investing in, then I think you are one step closer to the right direction, because a lot of altcoins out there are not worth our penny to be invested in, and looking at the use case of Eth and how large its smart contract is, we can both believe that it's worth our investment. On the other hand, you also need to hold some BTC, and now you don't know how to share the money to get the best out of these two currencies on your table.

If I'm to be in your position, the best thing that I can do is look at the currency trend and price increase of BTC, with halving being around the corner and BTC ETF close to being approved. I will spend up to 60–70% of those holdings into BTC, and the rest of the money can be used to buy ETH. Let it not be as I miss out completely on Eth. Based on how I have watched the market these past few days, the price of Eth has been responding both negatively and positively in proportion to bitcoin price movement.

Bartello

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Quote from: pinggoki on December 06, 2023, 10:39:42 PM

I say that it would do you better to just invest in bitcoin only, maximize the potential profit by buying more right now when the price is just starting to run hot with the anticipation of the bull run and with the halving still in the near future, best believe that you're going to be better off investing in bitcoin only. I'm not saying it's bad that you're investing in Ethereum but think about it, there's going to be an altcoin season after a bitcoin bull run anyway, it's wise to go for taking a profit at bitcoin first and then trying to get in Ethereum after.

Understood - i think part of my strat was to purchase ETH for the anticipated "alt season" and purchasing BTC was sort of an afterthought / deviation from my plan, but having read through this thread and many others i have since decided to go the 100% investing in to BTC. I've also discovered my laziness and inexperience has been costing me £ with fees so plan to move to another platform for purchasing.

Bartello

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Quote from: mirakal on December 06, 2023, 05:55:42 PM

I suggest you focus on bitcoin and invest all in. That is, if you want to maximize your profits from long term hodling. Bitcoin has more potentials to succed compared to Ethereum, so invest in bitcoin first and when you're currently making decent profits already, then diversifying your bitcoin with ethereum is a perfect choice.

DCA is the key for long term success. Although you could also consider doing DCA with ethereum but knowing ethereum is only good for short term duration, then for now just stick to bitcoin.

My long term plan has shifted towards BTC, and i get paid every Thursday @ 17.00 so will begin my new path today by moving my assets over to Kraken. I have been researching since posting this thread and realised i'm paying high fees to begin with which over time will cripple my gains and have just downloaded the edge wallet after reading another post here about exhanges and wallets. I really appreciate everyones time so far.

I just need to make changes to my budget spreadsheet - i find things easier to understand when they're infront of me in black and white + seeing my networth grow over time keeps me diciplined and motivated to wake up daily at 3am to make it all possible.

pinggoki

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I say that it would do you better to just invest in bitcoin only, maximize the potential profit by buying more right now when the price is just starting to run hot with the anticipation of the bull run and with the halving still in the near future, best believe that you're going to be better off investing in bitcoin only. I'm not saying it's bad that you're investing in Ethereum but think about it, there's going to be an altcoin season after a bitcoin bull run anyway, it's wise to go for taking a profit at bitcoin first and then trying to get in Ethereum after.

Bartello

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Quote from: macson on December 06, 2023, 06:06:21 PM

Quote from: Bartello on December 06, 2023, 01:38:58 PM

Hi All,

I currently have between £300 - £400 left over each week from my salary in which i have been transferring in to a savings account with 4.75% interest, but recently i began to invest small weekly amounts into the popular alt coins (£50-£100) as i'm a fairly risk averse person by nature. I have recently sold those coins in my portfolio at break even or at best with small gains and re-invested the money into BTC & ETH.

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

i currently hold 0.096* ETH & 0.0057* BTC and have been seriously considering investing more but not sure if the amounts i have available make this worth while?

Overall, using the DCA method for long-term investment is a very wise thing and you have started doing that, but my question is why are you also investing in ethereum, you should invest only in bitcoin, because the price of bitcoin is the one that has the best speed of increasing continuously. but you have to remember to always keep bitcoin or whatever assets you have in your personal wallet, and never save them for the long term on an exchange because it is very risky, be your own bank.

I'm very new to all this - i currently use my bank to purchase BTC and also have a Kraken account.. what is a wallet? i have metamask?

£100 of BTC comparison Shocked

my bank = 0.00279151
kraken = 0.00285473

Seems the convenience of having my finances in one place isn't beneficial for me over the long term!

Topic: Bitcoin Investing - DCA - page 2. (Read 542 times)