Topic: Is there a formula for Bitcoin starters? - page 3. (Read 630 times)

I have been following the DCA strategy for Bitcoin for a while by saving what I can from my monthly income, and I only buy using the excess income I need. I do not insist on a fixed percentage, but rather a variable rate depending on income.

People who have a family and monthly expenses should have priorities and not necessarily pressure themselves to buy Bitcoin at a fixed percentage every month.

indeed, to invest we have to be able to meet our living needs, and after that we can use the rest for investment, at least we have savings equivalent to our expenses in a year, so that even if there is an emergency we can use it without disturbing our investment money, so that in investing our psychology Remain calm in the face of market fluctuations. No matter how much money we invest, it will be very useful, as long as we carry out good money management

I don't think that a formula would solve and give you the solution to having the right way of proceeding with Bitcoin. As long as you continue to invest, I think that would already be beneficial for you in the long run.

Right now, I believe that there would be a lot of people continuing to invest in cryptocurrency since the price changes in BTC are great now.

It’s that patience pays a lot, and if there is patience in everything we do, we will get what we want at the end of the day. So one of the reasons why they advise people to use the money they will need in a very short period is because of this emergency that you are talking about. If you know you don’t have much money, you will invest some percentage in bitcoin and keep the rest for your needs. because after the investment you may need money and you have already invested the only money you have, which you will definitely go back to your investments and sell what you have accumulated. You may even lose if the market is not the same as you invested, so it’s two things here: invest the amount you can afford to lose and then don’t invest your last card; you need it for other things too.


You have a point here, mate. It is not advisable to have only one source of income and think of increasing your capital in bitcoin investment when you are working. You also need to save some money in case of any emergency. However, only one source of income will not be enough. The reason is that when someone will meet up his family's needs and people around him like his friends and others, then thinking of increasing your capital is wrong. While investing, we should think twice so that we don’t come and suffer the fact that not everyone wants to touch what they have already invested, so investing small is also no bad. You can leave it there for a long time.

There is no manna from heaven on Bitcoin investment if not an angle of businesses if I must say.
A key point to make it successful on Bitcoin investors is that approach you feels like banishing (patient) which is impossible when we talks about Bitcoin.

Majorly Bitcoin is an alternative means of financial exchange on a digital term with the potentials of enrichment and not that it is particularly designed or invented prioritizing to enrichment.

This is a volatile digital currency so if you must be a benefit to it potential of enrichment, you are required to keep eyes on the marketing system because it fluctuates as it also experiences inflations and deflations so if you must be an enrichment beneficial, YOU MUST KEEP EYES ON THE BOARD as... PATIENT.
There is just no magic on how you can get rich here but probably on your luckiness if there goes a bull run at you needy time but it is a very highly bet that PATIENT is on its high observance to go rich on your BTC investment.

The formula for a BTC beginner is never a boycott but the primarily steps required for a kickstart such as holding your private keys handy to yourself and do not take your BTC as your sudden source of income but looking at it to be  a long time investment then let the market value make your determinations on when you sales to make profits.
All these lies on PATIENT.

This is a good point because in the end when we try to invest in bitcoin especially with a small nominal then in terms of investment quality it will lose to the whales who have large capital but we can still provide quantity in the investment that is carried out even with a small nominal but when we are consistent to continue to add more and more actually it is a very good thing and it must be done.
But the views of some people, especially for new people today, are quite different because they expect large profits but on the other hand they only invest in only saving once with a modest amount. Although indeed it is also certain to get a profit but of course we must be aware that the profit depends on the investment we gave before so that when the investment we do with a small nominal in bitcoin with the current conditions even though it will definitely get a profit but don't expect too much to get a big profit.

This is something that you must do in the first place on which investing only on the money which you can afford to lose or not something that you would really be using on day to day living.Once you do put up some investment on crypto then make yourself that those amounts to be lost up forever. Or shall i say that on the time that you had invested then you should really be totally forgetting it and never ever tend to pull out those money on the time that you are in need but if you dont really have no choice on which this do involves life and death situation then it wont really be that bad on taking those yet there's no such thing on this world
that would be more important than with our loved ones but as much as possible if the problem isnt correlated to this then as much as you can then it would be wise that you would really be needing to find up solutions and dont directly pulling out those crypto investments easily.

Being small time investor or trader isnt bad, just dont make yourself that imagining on getting in line with those rich fellas because once you do have this kind of mindset then most likely you would really be that
getting having that kind of unrealistic approach on which it might really be that ending up for you to make decisions which arent supposed to be done.
Just stick with your own pace and dont rush anything up, act according into your financial standing and capacity and dont try to mimic out those rich people because
it would really be just putting you up in harm instead on benefiting from it. Its fine to have an inspiration but of course you would really be needing to act for yourself.

We all know that investing starts small due to financial limitations but it is not a challenge but how and how to be consistent while investing with small amounts.
But it will be an obstacle if investment is only made as a necessity especially the pressure of something we never expected, therefore you must make a plan at least there is another income, have an emergency fund then if the preparation has been done you can start investing for a long time.

By increasing your investment capital, you must be able to find other sources of income not only relying on monthly salaries then it will not be enough, with patience alone is actually not enough you must be able to find ways to increase your investment with the capital inputted.

There are no particular measures that should be taken when bitcoin investment is available to everyone, in my opinion, other than to keep in mind that there is no need to rush into an investment out of FOMO. Anytime is a good moment to invest in bitcoin. Don't invest in crypto if you don't have spare money to do so because you will undoubtedly have to sell when the necessity for an emergency arises.

I've seen a lot of individuals invest in bitcoin as a result of seeing bitcoin price rise dramatically and they move into the crypto market as a result of that. By the time the market tension reduces(bitcoin reducing in price), it will now be down on them that bitcoin investment doesn't end. It is a continual process that can be done when one is financially ready to have a long-term investment plan 

Yes, it is true that many people often fall victim to the mistake that they invest all their funds in crypto to get quick profit but later face losses. And these are the people who, without any knowledge or proper investment strategy, jump straight forward in the market, and in the greed of profit, they end up losing instead of profiting. And this loss is caused by their own hands, but later they blame Bitcoin and cryptocurrency to cover up their stupidity and ignorance.

These people enter the cryptocurrency market and consider only profit for themselves; while cryptocurrency runs on a 50/50 ratio due to its volatile nature, they also give profit and suffer losses. But it all works under your risk management strategy. The purpose is that if you are really looking to profit from a rare thing like Bitcoin and are an enthusiasm of Bitcoin, then you must first diversify your funds by making a proper strategy and take point-to-point entry under DCA or if you have large funds. However, you can earn a profit by using the Lamp Sam strategy. But the best thing in crypto is patience; haste can often hurt you.

Bitcoin is a risky investment with a volatile market that can fall at anytime and remain there for as long as hell. Resting on it in getting profit based on your own target  is likely you be frustrated that you be forced to sell at a loss when your plans ain't met but the need for the more is pressing badly.

When investing in bitcoin it shouldn't be an economizing thing in the sense that you don't have to use money that your survival depends on to invest into bitcoin. Bitcoin investment is not a compulsory venture if you don't have the portfolio to be invested now you can always do that some other time when you have amount you can afford to lose and be patient with to be profitable.

I consciously don't introduce people without  a job or a dependable paying skill to bitcoin investment and this is a concept I wish others will embrace to avert issues.

It is not advisable to begin an investment with a small amount of money that you may need later on. This is because, no matter what, a financial situation will eventually come up that will force you to touch your investment at that point, and if you are losing, you will have no choice but to sell it. Therefore, I can advise you to begin investing, even if it's with a small amount of money, but just be sure you have another job that is paying to deal with other issues because you cannot rely on bitcoin investment and be thinking you are doing something with your small amount of investment. Investing in bitcoin might not be able to fix all of your issues at once. But if we have other individuals working for us, I think there's nothing to worry about. This is why some people claim that investing in bitcoin is not appropriate for everyone.

There is no formula for that, all you need to do is make sure that the money you are investing in Bitcoin or any other cryptocurrency isn't going to be needed anytime soon because it can take time for the market to turn your investment profitable so that you can either sell them all or take some profit and keep the rest. That's why, you shouldn't make any investments if you can't afford to do that and don't invest the money that you might need in the near future.

A lot of people make this mistake, particularly new investors, they invest the only funds that they have at the moment and expect that they will get profits very quickly which might happen on some occasions but it doesn't work like that all the time because the cryptocurrency market is highly unpredictable.

Bitcoin investment should only be done with assets that you can afford to lose. Any assets that your life depends on should not be considered as an option for Bitcoin investment. Having low or budget for investment is not a problem with Bitcoin investment because, you can invest as low as you want as long as it supports the buying capability. I said the minimum could be $10. I say this because, Bitcoin is not a quick profit investment scheme. It's long term investment plan that should be carried out the way it is supposed to be. You can make profit in short term by doing trading but the profits are not guaranteed. Bitcoin trading comes with risks so profit and loss are both a part of that process.

The person should never depend on Bitcoin investment as their only income source. It does not give you quick profit or a profit that you can depend on to live your daily life. Investments are for future planning and should be treated that way. On the other hand, if you want to lead your daily life with something then get a proper job which will help you do that. Never depend on Bitcoin investment as your income source.

I assume that you are very new when it comes to Bitcoin.

In regards to your concern, I do not think there is an exact "formula" for starters in getting themselves warmed up for Bitcoin.

As we're not financial or investment advisors here, we do not encourage nor discouraging you from getting into Bitcoin or any altcoins.

You should only use your spare money that you can afford to lose when deciding to get into Bitcoin and not going all-in. You must always have some emergency backup funds just in case and a stable source of income to sustain yourself.  

BTC doesn't offer any promises or astronomical guaranteed returns as it is subject to market volatility and it can go up or down without warning. Make sure that you always acknowledge the risks and learn how to manage them at the same time.

The formula to learn for a newbie starter is simple as trying out and sticking to either trading crypto/BTC or to hodl or save crypto/BTC for long term. Besides this, I don't see why a newbie just getting to know about BTC will want to join a forum like this, if not to learn how to trade, HoDL, earn within and on personal basis.

Learning about the technologies growing with the wide spread adoption of BTC, it is also very important for a newbie starter, because as you learn more about the kind of systems and apps and wallets to use to keep BTC/crypto safe from hackers and scammers, there's also the case of keeping up with digital improvements that will make earning with BTC or crypto very vital as well as making payments with it.

As an experienced investor, I advise someone who is new to Bitcoin and wants to invest in Bitcoin with money that they will not have to use if they absolutely need it. The reason for this is that when making long-term investments, one should not feel the need to use these investments in case of need for money until the targeted profit rate is achieved. I can give an example like this:

For example, let's say you bought Bitcoin today for investment at a price of 30,000 USD and the selling price target is 100,000 USD for a long term plan. If the investment you make today is money that you may need in the coming period it may be necessary to sell Bitcoin below the purchased price level. This means that this long-term planned investment will actually be disrupted by loss sales in the short or medium term. In order to avoid such a situation, as I mentioned, it is very important to invest with an amount or capital that you will not need in the short and medium term. In other words, it is very important not to use the money that may be needed especially if new investments have been made in the cryptocurrency markets. I guess this will be the most important suggestion for someone who has just started investing.

In particular, we must have a goal in every investment, and for beginners it is better to use the money they have without needing to have any expectations for anything because for beginners the knowledge gained from investing experience is more important than the small profits they get.
Now let's think further that this is for the long term, don't focus too much on profits first if we don't have sufficient knowledge, I think do whatever will really gain new knowledge because if we already have sufficient knowledge then it won't betray us. the benefits that we will get in the future.

There's no actual formula for newbies in investing in bitcoin, perhaps investors are aware on what's the basic steps in investing. Some minimum wage earner says it's quite difficult to save a money for investments but for me, it's better to have one or try to find a high paying jobs so you could save an extra money. For the most part, all you need to do is invest your money or digital assets in a particular crypto investment strategy or platform and watch it generate profit but please note that the profit is not fixed and unpredictable.

It's possible... "IF"

If Bitcoin takes over and becomes the new global currency, with real-world use expanding, and its limited supply, you can bet the price is gonna shoot up. But $1 for 1 Satoshi? That's like a best-case scenario, and it won't happen overnight, that's for sure.

There are some discussions about that in the forum in and reddit, you might wanna check.

Can 1 satoshi be worth $1 in the future?
Do y’all ever think that one Satoshi (0.00000001 bitcoin) will eventually equal $1.00?