Topic: How I accumulate bitcoin as a newbie? - page 4. (Read 581 times)

Your question takes me straight to this topic --> Things to keep in mind before the accumulation of Bitcoin Because it will cover 90% of your queries, the only thing that it doesn't cover is "exchanges to buy Bitcoin". i will try to cover it for you, if you intend to buy it from the Centralized exchange then i recommend you to choose from the top 5 or any top exchange that is currently working in your country. If you don't know that either i recommend you to ask it from your local community on this platform. Or you could mention your country name here so that i could recommend you some.

And the Decentralized exchanges are also numerous like Bisq, Uniswap, Pancakeswap, etc. And for your last query, there are 2 scenarios from you.

1. if you wants to accumulated BTC then it's mean it is for long term. and for long term this is the good time, because market is making some moves here, due to ordinals problem and due to some halts by CEXs and due to many other factors that needs no definition. As, in the long run we all know BTC will break its ATH and set a new one above $100k.

2. If you wants to hold BTC for shorter period of time like for 6 months or maybe more, then i suggest you to wait some time, because you might get better opportunities to enter market in coming months. But that's just my observation, so you should DYOR too.

Keeping the time difference aside, you must have to do DCA, as it is necessary in Accumulation phase. because if you think now is the good time and buy BTC from all of your fiat and in future BTC goes down and now you have no money to buy more BTC, in that case you will stuck and can't benefit from the bearish trend. So in accumulation you just have to fill you bags until you can by doing DCA and ones you think its time to forget about them. Then you should again start accumulating them.

I believe, you already know the answer, because you wrote about it. Be active on the forum, ask questions, share your thoughts on the information you find useful and interesting and engage into discussions with those who are more experienced and from whom you can learn.





I have a lot of doubts that somebody here will provide you with specific "step by step" advice. First of all, the best option you have here on the forum is diversity of opinions, from which you can conclude and form your point of view. You have to understand that every recommendation, given to you, is only a recommendation. Following it or not is completely up to you and each decision you make is your responsibility. That is why you shouldn't wait for some guru who will teach you how to accumulate bitcoin. But you will have the opportunity to come up with a plan for how to do it yourself, based on the information and discussions that the forum provides.

Theirs is nothing much to add than what Little Mouse has said. The only thing is the biggest challenge for newbie trying to use a self custodian wallet is the ability to save the seed phrase but I believe there absolutely nothing that doesn’t comes with risk but that of non custodian wallet are bigger. Have multiple back up of your seed phrase and do not save your keys and phrases on google doc or emails as they could easily get exposed should any one this storage place get compromised.
Another self custodian wallets that is great on mobile devices is the blue wallet. It is has many features than mobile electrum.

There is no guarantee of when the market will fall or rise, they’re just speculations. So the best thing is just to buy when you have funds available. You can use the dollar cost averaging method by buying bit by bit either daily, weekly or monthly, depending on your funds.

Hardware wallet must be your first go unless you have a problem with spending little money. Otherwise, you can use Bitcoin Core or Electrum. Electrum is a cool wallet for newbies. I'm using Hardware wallet for long time saving purpose while Electrum for daily transactions.

 Are you willing to use a CEX or DEX? For decentralized exchanges, try bisq.network (No need to trust anyone). While on the other hand, for centralized exchanges, try Binance or Kucoin.

What if it doesn't go down? Won't you regret it? It's better if you start DCA so you won't leave any opportunity to buy the dip.

The investment of bitcoin is really cool opportunity and really wants to grabs the time here with you to learn and become like most of you who have accumulates tremendous bitcoin breathing different prices in your wallets. I will love to follow step by steps advise that you personally used to gain value of digital assets in short or long term investment/trading?

Please just attend to this helpful questions amicably and be polite in your answers?
Where do I begins? What's the best wallet you're using? Where do I buy bitcoin with easy exchange without scams?
Finally, should I do it now that the price is not stable or I should wait a little in case it goes down again?  We are all here to learn.