Topic: Is there a formula for Bitcoin starters? - page 5. (Read 630 times)
The formula is pretty simple, especially if you're looking at long-term investment. With the upcoming bull run, the best strategy is consistent investing. Whether it's on a weekly or monthly basis, put in what you can afford to lose from your real-life income into Bitcoin. We can't predict the exact price when we hit a new all-time high, but we might be looking at a potential 10x return on your investment. So, stay optimistic and don't get discouraged if you're starting with a small amount. The price of Bitcoin doesn't have any limits. Some even make super bullish predictions, like Bitcoin reaching $1 million each or $1 per Satoshi in the future. It's definitely possible, so get started now and stop asking too many questions.
Trading is considered one of the strategies that you can use to amplify your capital if it is small or you have limited access to financial resources that enable you to buy more, as you can trade in the short term and return again to Bitcoin after achieving profits.
There are more risky methods such as staking, gambling and borrowing, but they are all high-risk methods and may end up with you losing your capital + incurring additional losses, while the worst scenario in trading is losing your money and returning to zero.
In general, getting rich quickly is a dream, and you have to build your plans slowly.
There are more risky methods such as staking, gambling and borrowing, but they are all high-risk methods and may end up with you losing your capital + incurring additional losses, while the worst scenario in trading is losing your money and returning to zero.
In general, getting rich quickly is a dream, and you have to build your plans slowly.
Apart from basic needs funds, you must prioritize emergency funds over investment funds. Sometimes people force themselves to invest without considering their own financial condition. In difficult times, negative investments actually make you make even more difficult decisions.
Investments aren't always able to save you in all situations.
Investments aren't always able to save you in all situations.
This is the point most of us are missing. I know the importance of saving and investment but thinking about investment when you are still struggling to survive is never a good idea. Investment is planning for the future but you can not be thinking and planning for the future you're not certain about when your present is not stable. You don't have to be absolute financially buoyant before thinking of investing actually but at least you should not be living in a miserable condition. If you are relying on your investment to solve your present challenges then you are not ready for investment.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
Starting to invest in Bitcoin with a small amount of capital can be very challenging, especially if the investor is relying on the returns from the investment to meet their basic needs. However, the key point to keep in mind is that investing in Bitcoin or any other asset for that matter, requires a certain level of risk tolerance and financial planning. Before you should decide to invest in Bitcoin or any other asset it is important to understand the potential risks and rewards as well as to have a clear plan for how the investment fits into your overall financial goals.
I would say looking for a way to make an income in the crypto world with the free time you have and saving that income is the smartest way most newbies could approach. I mean keep whatever income you have right now to yourself, and then put whatever capital you have into just long term holding of bitcoin, and the find some work that you can do in the crypto world which would make you understand the market better, and with that income just purely keep that in bitcoin as well so that would mean you are increasing your bitcoin amount as well. Keep doing that for years, even decades and you are going to end up retiring a very rich person without a doubt, its definitely a smart move.
There is no secret or special formula that can help us succeed when investing in bitcoin. If you want to achieve good, successful results when investing in bitcoin, the only thing that can help you is knowledge. When you have knowledge about the market and about bitcoin, you will know what currency to use to invest in bitcoin, what emotions are needed to hold bitcoin until it makes a profit...All it takes to make money with bitcoin is knowledge. When you gain knowledge, you will have everything you need, so what you should do now is diligently cultivate your knowledge instead of investing hastily.
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In the first place, investments shouldn't really be treated as an "emergency" fund. You should have a separate source for that regardless of how early you are with investing or not, just to avoid issues when it comes to what money should you actually spend or not. If you're treating your investments as emergency funds that you can pull out immediately, then don't invest first, accumulate enough to accommodate for an emergency, then start investing, at least imo. Investing is not a method to quickly go from rags to riches. You'd honestly expect more losses here, especially as a newbie instead of gains really.
There is no formula in bitcoin for newbies, there are different paths that one can take but in my opinion, your rule of thumb should be that if you're not making your ends meet and you are on survival mode even with a 9 to 5 job then investment should be the least of your priorities. But that one can argued/debated that you can still put some investments little by little but let me tell you this, are you ready to let go of paying your electric or Internet bill and just resort to using data and just charging your phone in a park somewhere? Or you can keep them and save the leftover money for things that can happen unexpectedly like sickness. Or let's say that electricity and Internet bills is too extreme for you, are willing to let go of your vices (cigarettes and alcohol only) or hobbies that's keeping you sane in this crazy world? Are you not that materialistic that you won't mind the money leftover after all the necessities have been paid goes to your investment?
That's why it's important to slowly develop a different skill so you don't have to rely on a paycheck to paycheck work and who knows, that skill that you're honing while you're working can help you make more money and get you out of survival mode.
That's why it's important to slowly develop a different skill so you don't have to rely on a paycheck to paycheck work and who knows, that skill that you're honing while you're working can help you make more money and get you out of survival mode.
The only thing i would recommend is patience and stability. These are the two most important things for someone new to Bitcoin. People get the idea that they will get rich after getting acquainted with Bitcoin and the crypto ecosystem, and they can buy and sell in a panic. Regular and periodic investment and patience will open the door to wealth. The DCA method is among the best methods. You can find a lot of topics about DCA in the forum.
But there is one important aspect here and that is your economic situation when investing in Bitcoin. If your only source of income is trading for a living, i'm sorry, you are on the wrong track. To accumulate and hold on to Bitcoin, you need to have a side income. If you have a job and you don't need Bitcoin while saving it, it makes sense. Otherwise, if you continue your life by exchanging the Bitcoins you have accumulated to meet your money needs, the savings you have made will not make sense.
But there is one important aspect here and that is your economic situation when investing in Bitcoin. If your only source of income is trading for a living, i'm sorry, you are on the wrong track. To accumulate and hold on to Bitcoin, you need to have a side income. If you have a job and you don't need Bitcoin while saving it, it makes sense. Otherwise, if you continue your life by exchanging the Bitcoins you have accumulated to meet your money needs, the savings you have made will not make sense.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
But if you stand up and look for work to do that will be given some money, then you will set aside some percentage of your income for bitcoin investment through the DCA method, or if you can keep the money for a certain amount before investment, that is also fine, but the DCA method will give you a greater advantage in investing in bitcoin without stress.
Every investor has a challenging beginning, those who can survive the initial challenges succeed. Those with less capital will invest less because an investor with less capital will not be able to invest more money if he wants to. Every investor tries to invest according to his ability. Borrowing money for investment is never a good decision that is why one should invest as much as possible from the amount of money he has. As the investment can be increased at will, it is a very good aspect for the small capital investor as he can increase his investment amount as per his money when he has money. If he increases his investment whenever money comes in and if this is consistent then at some point he will have enough investment.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
Apart from basic needs funds, you must prioritize emergency funds over investment funds. Sometimes people force themselves to invest without considering their own financial condition. In difficult times, negative investments actually make you make even more difficult decisions.Investments aren't always able to save you in all situations.
Everyone who wants to start investing in Bitcoin will have their own formula. The formula will be different from what other people do. He has to find what suits him and he can learn about it. And to invest in Bitcoin, you don't have to have large capital, but even with small capital, you can start.
It all depends on how much money he can afford to invest in Bitcoin. If he has expenses every month, he must calculate how much money is free not to be used for other things. If he already knows the amount of money, he can use that money to invest in Bitcoin.
By using free money, you will not disturb your finances. And you can routinely buy Bitcoin using the DCA method that many people have used.
It all depends on how much money he can afford to invest in Bitcoin. If he has expenses every month, he must calculate how much money is free not to be used for other things. If he already knows the amount of money, he can use that money to invest in Bitcoin.
By using free money, you will not disturb your finances. And you can routinely buy Bitcoin using the DCA method that many people have used.
DCA (dollar cost averaging) is the best strategy for anyone unless you are an experienced trader. If you are able to save money, that means you can invest in bitcoin. Basically you need to invest the same amount every month. That’s called dca’ing. People made lost of money that way in the past and they will keep doing so. You just need a job so you can save money and that’s it.
Never ever try trading especially if you are a newb investor because you will only lose money. Even the professionals lose money sometimes but dca’ing is the foolproof way of making money. If you haven’t made any money from dca’ing you probably bought at the top but that means you’ll have to dca till the next ath.
Never ever try trading especially if you are a newb investor because you will only lose money. Even the professionals lose money sometimes but dca’ing is the foolproof way of making money. If you haven’t made any money from dca’ing you probably bought at the top but that means you’ll have to dca till the next ath.
The conclusion of your story is you're either don't have a job or having a job where the wage aren't enough to fulfill your daily needs.
Ask this question to yourself: how it's possible someone can invest when they don't have an idle money? before you want to invest you need to prepare emergency funds first, that's your focus, not invest to Bitcoin.
Get a job that pay well first, this is a formula for life starter.
While the formula for Bitcoin starter: have a non custodial wallet, use trusted exchange, learn security, privacy, etc.
Ask this question to yourself: how it's possible someone can invest when they don't have an idle money? before you want to invest you need to prepare emergency funds first, that's your focus, not invest to Bitcoin.
Get a job that pay well first, this is a formula for life starter.
While the formula for Bitcoin starter: have a non custodial wallet, use trusted exchange, learn security, privacy, etc.
... but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
This will never happen if you only invest with your idle money, don't borrow, don't use money for daily needs to invest...only invest with the amount you can afford lost.
By the way, there is no special formula when investing in bitcoin. You should invest according to your capital and circumstances, don't try to follow others. Knowledge is what you need, because when you have knowledge about bitcoin you will understand it better and from there you will know what you should do best for yourself. Think simply, don't complicate things.
Starting Bitcoin investment with little capital will be very challenging mostly if that happens to be the major survival option of the investor. And in cases where the investor plans on using the proceed to solve their needs they might end up selling when the price have dropped just to settle the pressing need of that time.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
Before delving into anything, be it finance or technology or whatever, it is always adviced that a proper knowledge and understanding of what you're venturing into is acquired for sustenance and guidiance. There are serious consequences for ignoring this kind of advice as the danger that appears after a shortwhile is always not envisaged.
If you go through materials online, these includes youtbe videos and articles on Medium, cointelegraph and other contents around the space, you will be availed with more than enough formulars, and, if need be, you can craft your own formular that will be tailored to your exact type of operation.
If you have small capital, one thing you should consider is to choose another investment option that has bigger leverage. For example, investing in yourself to cultivate more skills, as thus, you could get bigger payouts/income potency. If someone is forced to convert his investment funds to fulfil his basic needs, then his own financial plan is not quite right.
The root problem is not how to find a solution to maximize Bitcoin investment returns, but rather how to find more sources of income or at the very least find a stable income that meets basic needs. Or simply readjust the current financial plan, because it is simply unfeasible to have a long-term position while the short-term expense is not wholly manageable.
The root problem is not how to find a solution to maximize Bitcoin investment returns, but rather how to find more sources of income or at the very least find a stable income that meets basic needs. Or simply readjust the current financial plan, because it is simply unfeasible to have a long-term position while the short-term expense is not wholly manageable.
If you look at investors who have just entered the world of investment, usually these novice investors confuse their monthly income with making additional money through investment, even with small capital, which is not only challenging but very dangerous for your life. Look for additional or side work to make ends meet or create your emergency fund. You also need to know that in the world of investment, prices are very volatile and uncertain. If you experience a decline, the value of your money will automatically decrease, not the value of your assets, usually beginners will sell it all of a sudden, seeing their money decrease and being afraid of a bigger loss.
Fulfill your living needs first, if you feel sufficient and stable in your finances and life then you can re-enter the world of investment, set aside cold money that does not disturb your daily needs, you must be prepared if at any time your money decreases very drastically. Not the value of your assets, keep doing it with Dca, you will get the best average value in accumulating your investment assets.
Fulfill your living needs first, if you feel sufficient and stable in your finances and life then you can re-enter the world of investment, set aside cold money that does not disturb your daily needs, you must be prepared if at any time your money decreases very drastically. Not the value of your assets, keep doing it with Dca, you will get the best average value in accumulating your investment assets.
Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations.
Patience and keeping it simple are key. If you have a great need for urgent money you are not going to get it with Bitcoin. Investing in Bitcoin has to be long term and with money that you won't need for at least 4 years. And before that you should have an emergency cash fund of between 3 and 6 months of expenses. That money is what you should use for an emergency, and leave your Bitcoin investment in peace.
Starting Bitcoin investment with little capital will be very challenging mostly if that happens to be the major survival option of the investor. And in cases where the investor plans on using the proceed to solve their needs they might end up selling when the price have dropped just to settle the pressing need of that time.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
As experienced investors are there measures that can be imbibed by new investors with little capital to help boast their capital. Some will want to mention patience which I will agree to but in situations where the money is needed to meet an emergency need how to you tackle such situations. Your formula might be a saving approach.
Dilemma. That happens a lot. Many people hope that trading will make a lot of profit and sometimes beyond their expectations, after they run, the initial capital funds are lost on average by 30% because there is an urgent need at home.
But, when you invest with small capital there is no guarantee of significant profits. Let me try to illustrate. For example, if you entered the market yesterday by buying 1 BTC at a price of $28,500, now you can exit the market and make a profit of $1,370 in just a few days, But if the capital is small it takes a very long time.
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