Growing both your Bitcoin and backup funds.

fikrett

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Quote from: bitterguy28 on October 15, 2024, 12:54:51 AM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

when you call it investing meaning you are allowing your funds to stay longer in that sense meaning the only thing investors of bitcoin should know is that how long can they keep holding and how much they can suffer for some losses that may come along the way.
aside from those they can just easily put money on this and keep waiting for longer time at least 4 years cycle .

Everybody who is knowledgable and has been there on the market for quite a long knows the benefits of holding BTC and in general what it stands for, why it's so important, and why it should be viewed as the coin it is today.
Thus, yeah, everybody has the ability to join the rally for BTC and have some skin put into it. And in the future, they will be rewarded.

FortuneFollower

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Quote from: michellee on October 15, 2024, 01:59:04 AM

Quote from: AYOBA on October 14, 2024, 05:13:41 PM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Yeah that’s just the facts about the Bitcoins investment anyone who really wants to invest in Bitcoins most have enough capital, and the Bitcoin investment is not about taken a loan or borrowing form friends is better to invest what you can afford to lose then go take a loan just to invest in Bitcoins; that’s is the very wrong idea before a person should start a investment better the a person to have *three three of what he wanted to start a investment with, so that it will know have any problems in futures everything will be moving forward smoothly that’s all about the Bitcoins investment.

People out there will not thinks about that because they lack of knowledge and only follow what other people suggest to them. But when they want to learn more about Bitcoin investment, they will not directly invest their money in Bitcoin but will learning how they can start to invest in Bitcoin properly. By learning more about Bitcoin investment, they can grow their Bitcoin amount steadily and not just buy at once.

They also know how much money they should prepare for start investing in Bitcoin and how long they can do that. They will not just use too much money but they will calculate how much money they have so they will know how to allocate that money to start. Investing in Bitcoin needs patient to hold and while they learning, they will understand that Bitcoin investment is not a way to rich in one night.

They would put up some limits for sure and they would be able to utilize DCA if they have a stable source of income.
And after proper analysis and weighting out the risks, they would be able to get the boons of it in the future.

michellee

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Quote from: AYOBA on October 14, 2024, 05:13:41 PM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Yeah that’s just the facts about the Bitcoins investment anyone who really wants to invest in Bitcoins most have enough capital, and the Bitcoin investment is not about taken a loan or borrowing form friends is better to invest what you can afford to lose then go take a loan just to invest in Bitcoins; that’s is the very wrong idea before a person should start a investment better the a person to have *three three of what he wanted to start a investment with, so that it will know have any problems in futures everything will be moving forward smoothly that’s all about the Bitcoins investment.

People out there will not thinks about that because they lack of knowledge and only follow what other people suggest to them. But when they want to learn more about Bitcoin investment, they will not directly invest their money in Bitcoin but will learning how they can start to invest in Bitcoin properly. By learning more about Bitcoin investment, they can grow their Bitcoin amount steadily and not just buy at once.

They also know how much money they should prepare for start investing in Bitcoin and how long they can do that. They will not just use too much money but they will calculate how much money they have so they will know how to allocate that money to start. Investing in Bitcoin needs patient to hold and while they learning, they will understand that Bitcoin investment is not a way to rich in one night.

FortuneFollower

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Quote from: HajiBagi on October 15, 2024, 01:34:42 AM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Anyone who understands what Bitcoin means will not even think of using his or her money for daily expenses for Bitcoin, bitcoin is an investment that you can't predict and anything that you can't predict you should understand before taking any step, many newbies find it difficult to understand because of the way some of them are introduced to bitcoin, some people only believe that bitcoin is an investment that brings profit and they are going to take the risk to make a profit at the end.

I do agree. For starters, as you said, you should be able to stand on your two without crypto at all, then you can use some funds each week or month to get invested into BTC mainly.
Newbies usually think that there is a life change around the corner just by going into some memes, however, the reality is far different from that.

HajiBagi

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Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Anyone who understands what Bitcoin means will not even think of using his or her money for daily expenses for Bitcoin, bitcoin is an investment that you can't predict and anything that you can't predict you should understand before taking any step, many newbies find it difficult to understand because of the way some of them are introduced to bitcoin, some people only believe that bitcoin is an investment that brings profit and they are going to take the risk to make a profit at the end.

As a newbie you have to be capable of investing in Bitcoin, what I mean by capable is that you should be well-balanced so that even when you invest in Bitcoin you can still take care of yourself for many years even when you have a problem you will not think of selling your coin to solve your problem, although we don't know the type of problem we might face because sometimes a problem comes that even affect our savings but at least we should have a backup fund that no matter what happened it will not affect our investment, bitcoin is a good investment with good profit but we should not let the profit to push us to invest all our money and at the end, we will regret it.

FortuneFollower

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Quote from: bitterguy28 on October 15, 2024, 12:54:51 AM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

when you call it investing meaning you are allowing your funds to stay longer in that sense meaning the only thing investors of bitcoin should know is that how long can they keep holding and how much they can suffer for some losses that may come along the way.
aside from those they can just easily put money on this and keep waiting for longer time at least 4 years cycle .

Yeah, those should be the money you are willing to freeze to see them grow into the boons for later, otherwise, it doesn't make any sense to invest them and then put them out during the time the market does its magic with BTC as the main source of reliable investment.

bitterguy28

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Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

when you call it investing meaning you are allowing your funds to stay longer in that sense meaning the only thing investors of bitcoin should know is that how long can they keep holding and how much they can suffer for some losses that may come along the way.
aside from those they can just easily put money on this and keep waiting for longer time at least 4 years cycle .

Reatim

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Quote from: Catenaccio on September 24, 2024, 01:28:26 AM

Quote from: icalical on September 24, 2024, 01:05:26 AM

There have been swings in the Bitcoin price of late, and it could rally later this month or in October, according to some experts.

Experts on media have opposite predictions about the market too. You have to believe one of two expert types, who are bullish and who are bearish, who make calls for break-out and who make calls for correction.

You have to check on these "experts" and who seem much more credibility when making predictions about the market. I have seen some people brand social media influencers as crypto experts just because they make content about crypto but that is not true at all. A lot of them did not really spend time learning and getting to know the market to make the most accurate prediction possible.

Anyway, I don't think we should depend on what the media is saying that much because there will always be a difference of opinions between two sides. Just because one expert thinks this way doesn't mean his prediction is right. People will believe what they want to believe in.

Quote

If we have capital for investment and are experienced to wait for dips, with good discipline for waiting time, dips are great opportunities for purchases. Dips can help our investment with DCA strategy works better, with cheaper entry prices that will increase our profit in future.

Traditional DCA has no regard for prices. Its aim is to regularly accumulate coins over a regular period of time and eliminating any impulsive move due to emotional factors. But you can also DCA when the prices are low or at least as low as you can afford it.

AYOBA

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Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Yeah that’s just the facts about the Bitcoins investment anyone who really wants to invest in Bitcoins most have enough capital, and the Bitcoin investment is not about taken a loan or borrowing form friends is better to invest what you can afford to lose then go take a loan just to invest in Bitcoins; that’s is the very wrong idea before a person should start a investment better the a person to have *three three of what he wanted to start a investment with, so that it will know have any problems in futures everything will be moving forward smoothly that’s all about the Bitcoins investment.

BITCOIN4X

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Quote from: Dzwaafu11 on October 14, 2024, 02:15:09 PM

Quote from: 348Judah on July 04, 2024, 02:48:55 PM

~Snip

Exactly. Also, if you are not earning enough money that will even make it comfortable to meet your needs, then I will advise such investors to slow down with bitcoin investment because there is a lot going on in the market and it will require a very long time, so you won’t be able to leave your funds in there for a very long time. Also, don’t borrow money to invest, and don’t use the only money you have in your wallet to invest. Although there are many things to consider while making an investment plan,.

Borrowing funds as primary capital to invest in bitcoin is never recommended, but some investors may have done so. Bitcoin price volatility could slow down their loan repayment, especially if the price falls. The recommended budget to invest is unused budget or saved money for the long term, they can buy bitcoin instead of holding fiat. But having a budget reserve is always something to consider so they can make some adjustments when the market is not what they expect.

Dzwaafu11

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Quote from: 348Judah on July 04, 2024, 02:48:55 PM

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Exactly. Also, if you are not earning enough money that will even make it comfortable to meet your needs, then I will advise such investors to slow down with bitcoin investment because there is a lot going on in the market and it will require a very long time, so you won’t be able to leave your funds in there for a very long time. Also, don’t borrow money to invest, and don’t use the only money you have in your wallet to invest. Although there are many things to consider while making an investment plan,.

Zlantann

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Quote from: Adbitco on October 14, 2024, 09:59:42 AM

Does one really need to kill himself or herself over investment? Well, to me I will say no because targeting your investment to a well know asset such as gold or real estate to have peace of mind if you think Bitcoin is extremely volatile. Besides there are people who makes investment on a target of short time like when there profits is reached they sell off there investment to have their profits this could be in bitcoin or in real estate.

With the rate of increase in natural disasters and conflict, even real estate investments are no longer safe havens. There was a conflict in my location and people were forced to sell their houses at a giveaway rate to flee violence. However, real estate and gold have lesser risk than Bitcoin.

Quote from: Orpichukwu on October 14, 2024, 01:14:15 PM

In every form of investment, no matter how safe it appears, it's important to always play your own safety too, knowing fully well that nothing is entirely certain, so the 50% savings is not actually bad since we can run back to that whenever the person needs cash, but for me, I won't save up to 50% of my funds instead I will rather invest in something I can make a profit on a regular business while I diversify the rest of the funds to other things, not just digital.

Diversification is important because it spreads the risks on investments. Some people prefer diversification of their crypto holding by buying Bitcoin and altcoins. But for me, I prefer to invest in Bitcoin and other ventures outside the crypto market. This is because Bitcoin practically influences the price of altcoins.

Woodie

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Secret to these crypto investments is going in slow and steady, I know we all want to catch that big spike in price that can happen any time but unfortunately the first investors of Bitcoin caught that and can't use same strategy ..and also we need to consider proper risk management because market's will not always go our way.

And besides you don't have to be aggressive investing in crypto with a huge portion from your salary, that is why we have strategies like DCA to manage this FOMO feeling...slow and steady wins the race, don't be side tracked with what you see or read online..we all get there eventually

Orpichukwu

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Quote from: kotajikikox on October 14, 2024, 06:25:14 AM

What I think is that no matter what kind of investment you are going to dip your feet into, you should not always put all of your money into a single investment.

Diversification has been a concept well known among the community but people need to understand the actual importance of it. I always tend to cut my money into 50.50. 50% for investing 50% for saving.

From the 50% of the investment, I will then distribute it into different investments

In every form of investment, no matter how safe it appears, it's important to always play your own safety too, knowing fully well that nothing is entirely certain, so the 50% savings is not actually bad since we can run back to that whenever the person needs cash, but for me, I won't save up to 50% of my funds instead I will rather invest in something I can make a profit on a regular business while I diversify the rest of the funds to other things, not just digital.

retreat

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Quote from: Hatchy on July 04, 2024, 05:22:30 PM

Well, having a backup is a good strategy when it comes to Bitcoin investment. you just didn't emphasize on it the way I had expect you to. You don't necessarily have to divide your Bitcoin investment to create your backup fund. What you should be dividing is your source of investments, like your salary or earnings. Then you continue investing using the dollar cost average (dca) method. Your back up fund is just like a spare money you are saving on a separate account, to cover up any emergency. This is separate from your expense funds that you use to cover up bills and maintenance. It's just only needed when there's an urgency for funds.

What you said is much easier to understand than what he said. Since the most important thing in investment is money management, one can build his Bitcoin portfolio and at the same time set aside money as an emergency fund. In this way, one can use the emergency fund when the situation is urgent and they will not disturb the Bitcoin investment that they have planned before. This is a wiser and more appropriate way for someone who wants to invest in Bitcoin, because they can minimize the chances of selling their Bitcoin assets at the wrong position and at the same time they can get emergency funds to cover their lives or for other needs.

Adbitco

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Does one really need to kill himself or herself over investment? Well, to me I will say no because targeting your investment to a well know asset such as gold or real estate to have peace of mind if you think Bitcoin is extremely volatile. Besides there are people who makes investment on a target of short time like when there profits is reached they sell off there investment to have their profits this could be in bitcoin or in real estate.

Belarge

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Quote from: GideonGono on September 24, 2024, 07:36:17 AM

This is why I am putting all of my excess money into crypto, rather than letting it sleep in my bank account it is better to let it grow or make money for me.
Stake it or just hold it to let the price go higher.
Of course you should also have an emergency funds in fiat so that if any unforeseen event occurs, your crypto funds wouldn't be affected.

Patience is the strictly the answer to growing of portfolio in the market. Ready to hits top profits? The market is open for everyone, we choose profits that are profitable for us and they have good road map in the system. We have alternatives to explore in the market but on a second thought, we ought to be extremely careful with the market, because it's filled with volatility and nobody likes to end up on the losing side.

We grow bitcoin in several ways, one can easily be mining bitcoin, or simply be buying them and keeping stored in his or her portfolio. That's also consider safer because the market we know is growing when it comes to extension and also becoming popular in the world today. Crypto have saved a lot of life's out there in the real world. We know how dangerous and cruel life have been for the common man, so it's always advisable to plan before one invest, atleast to know the seasonal bull and bear changes in the market.

kotajikikox

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Quote from: Reincarnated Sat on July 04, 2024, 01:30:46 PM

they pause there Bitcoin accumulation and start building there back up funds also known as emergency, reserve and/or float funds and is okay, but one can still be building his Bitcoin investment and also his back up funds at same time, the only thing he needs to do is cut the percentage he was investing on his Bitcoin and then channel some to his back up funds.

What I think is that no matter what kind of investment you are going to dip your feet into, you should not always put all of your money into a single investment.

Diversification has been a concept well known among the community but people need to understand the actual importance of it. I always tend to cut my money into 50.50. 50% for investing 50% for saving.

From the 50% of the investment, I will then distribute it into different investments

Easteregg69

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I do monthly savings on that one. 60% goes in ETF's and 40&% in cash.

It's from last month.

Stop deleting my posts!

I bet it's nutcase Luke Jr.

uswa56

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Quote from: Kelward on September 24, 2024, 02:04:13 AM

To effectively hodl Bitcoin on the long term requires strategy so that the holder can become more focused on the long term investment. Before talking about accumulating Bitcoin and having emergency funds on ground it's important to understand that your income must first cover your basic or primary needs first. If what you're earning is not enough to support your feeding, rent and basic amenities like water and electricity then you should postpone the idea of any investments unit you increase your income. When these basic needs are met then you can conveniently do your DCA method and from money that is put aside for miscellaneous expenses can cater for emergency funds.

You are right, first having an income that can meet their primary needs is of course very important for anyone who is going to invest in the long term because it will be very unlikely that someone will be able to carry out their investment in the long term when they have not been able to meet their primary needs and I agree with what you said to be able to postpone their investment first when they are not able to meet their primary needs and I think They must first focus on increasing their income by working harder so that they can realize their desire to invest and will also be able to survive in the long term according to their desired investment targets.

Topic: Growing both your Bitcoin and backup funds. (Read 1023 times)