Topic: Now buy and hold the bitcoin is profitable - page 2. (Read 273 times)

I hope that you are not in a urge to buy bitcoin because the price is increasing and you think that you can make quick profit from it by selling when the price has gone higher than the amount you bought it. If you are having this idea running in your head then I will advise you not to buy bitcoin because bitcoin is not a get rich quick scheme.
     On the other hand, if you are buying bitcoin because you are seeing bitcoin as an asset or a store of value or because your country currency is depreciating and you want to use bitcoin as an hedge to inflation...good. First of all, you should have it in mind that bitcoin is a long term investment because that is the only way that you can lessen the risk in bitcoin if you are on a long term investment. After that you should prepare yourself and plan on how much that you will use to buy bitcoin every week or monthly that wouldn't affect your monthly expenses. You should have an emergency funds available that will enable you take care of any emergency during your accumulating period. DCA regularly will help you to increase your bitcoin size and you have to set a goal on your bitcoin target so that this can enable you to be focused. You can invest for 4-10yrs and above. During investing, you can start learning the area that you will love to know more. Don't keep your bitcoin in an exchange but keep them in a non-custodial wallet.

If your target is for long time then you can buy it anytime. But if you want to trade or want to get a suitable best price then I think you need to setup and average buying make buying decision with 3 to 5 parts with follow btc support and resistance.

You already know the basic concept on buying Bitcoin such as Bitcoin price always increase so it’s good to buy as much as possible whenever it corrects the price. I’m skeptical on what solution you are asking because buying at correction is always a good idea.

There’s tons of idea that you can do to Bitcoin but again your question vague that is really confusing to answer. Just do DCA whenever there’s price correction and hold it until the price reach above ATH.

there’s a few ways to buy btc

there are apps such as binance where you can exchange cryptocurrency but note that a lot of platforms have kyc or know your client wherein it requires you to sign up or make an account and verify your identification if you don’t want to do that there are also ways to buy btc by buying it from a wallet like CoinEx

non-custodial wallets are wallets that have no access to your private keys so make sure to hold onto that securely

If you need us to convince you, then why buy at all? Don't buy any asset in general that you don't know. Don't buy anything just because it's going up lmao. If you want some content though, here are some.


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

I would've love to give you the answer from my knowledge but it's not too necessary so I will only quote so advice or decoded ways to buy bitcoin from some members here.

It's actually not the best time, you just ask when Bitcoin has risen above the $30k price.
But why not inquire about buying Bitcoin when it's still under $20k, when it's a very cheap price and even now it's still impossible to hit that low again.

Now to try to buy Bitcoin you just need to buy it on an Exchange and if it is to be held in the long term you can move it in your Personal Swallow which you control yourself.
Bitcoin will have the potential to reach a new ATH as the 4th Halving is about to happen and Bitcoin is showing quite a good trend to date.

You are no longer new to the market, judging by the age of your account, you are also someone who has gone through 2 bull seasons and 2 bear seasons. That means you've seen all the ups and downs of the market and I think you've got some experience investing in bitcoin. So I really don't understand what support do you need from us? I believe that someone who has been in the market since 2017 will no longer be unfamiliar with buying bitcoin using the DCA method or storing it in a non-custodial wallet...You should be more specific about the problem you really need help with.

Great. The wallet may be adjusted to suit the OP's abilities and needs.

Yes, many say that BTC is entering its bullish phase, yes it doesn't matter if we make large purchases at once without DCA, even if the price of Bitcoin falls, the biggest possibility is that BTC will rise again and be bullish again, because halving has historically been able to bring the price of Bitcoin up to make ATH new. Maybe it's only a matter of time until that happens, it all depends on how patient and able we are to hold BTC until its value doubles.

It's not a bad call to buy, but the sweet spot is usually during a bear market. Right now, prices are riding high, so your profit margins won't be as hefty compared to accumulating coins during a bearish phase. After the last bull run, Bitcoin took a dive to $16k, and since then, it's skyrocketed by over 100%. I'm not ruling out potential gains now, though. When the bull run hits, it's forecasted to smash its previous all-time high, translating to some serious profits for you.

What exactly idea you need about Bitcoin?

Here are 3 things that came to my mind.
1.) You mean you are planning to buy but you don't know where to buy?
2.) Do you want to know if this is the right time to buy?
3.) Do you just want to know more about Bitcoin?

Here's my answer to them.
1.] You have two options where to buy either P2P exchange or centralized exchange. If you're fine passing the KYC you can buy BTC in centralized exchange.
If not and don't want to submit any documentation then P2P exchange is your option you can check the list of P2P exchanges here https://kycnot.me/

2.] Since there is an upcoming event for Bitcoin then yes. It is about block halving meaning once the event come the supply will be cut into half from 6.25BTC to 3.125BTC most trader and people here knows this every block halving the price of Bitcoin skyrocket. So you're not late yet to buy Bitcoin.

3.] I suggest check the Bitcoin price history and history of Bitcoin here below.
- https://en.m.wikipedia.org/wiki/History_of_bitcoin#Prices_and_value_history
- https://en.bitcoinwiki.org/wiki/Amp/Bitcoin_history

OP, befor you Invest into bitcoin, the final decision is likely to be taken by you and not any body else. You know how much you have in your account and how much you are earning as salary, so you should know how much you can afford to invest. investing on bitcoin requires you to have a very good ability to hold your bitcoin without regarding the volatile nature of bitcoin. If you are not sure to hold for a long time, then only invest what you can hold for the time you are willing to sell. Bitcoin Investment is long term Investment and if you are Investing into bitcoin now, you should make the decision of Holding it till the Bull run Start before or after bitcoin halving have occure in 2024.

Do I say, using more complex wallet depends on the amount the investor wanna used although all funds are available but it should be that op get familiar with the easiest wallet before acquiring the complex one. Doing DCA is also another alternative way to accumulate bitcoin but I won't encourage now to involved s/he into DCA why because bitcoin is already on the bull trend and doing DCA would result in not having enough btc value to his wallet. Halving is around the corner any moment from now we would start lamenting why we don't hold and accumulates enough bitcoin when it down, correct me if I am wrong bitcoin may never go below $30k before halving and anyone who DCA'ing may missed the bottom line to hold the amount he should have currently but however it depends on choice if op chooses to do DCA then that is okay by him or her.

Be very careful because there are many people who are scamming people of their money because they have disguised themselves properly as vendors of Bitcoin to fool people and they take advantage of the interest of new investors to invest in bitcoins to deceive them into buying bitcoins from fake websites or platforms. These scammers can contact you from anywhere and on any platform including this forum, you have to always be watchful and careful to know that you cannot always trust people online.

It is good advice not to store assets on exchanges as one will not have full control over them, but one should be able to store assets in non-custodial wallets and keep private keys well.
Also, some exchanges have implemented KYC at the beginning but some exchanges don't, it depends on the situation but for Binance you have to pass KYC if you want to deposit any amount of bitcoin or crypto.
Maybe you mean P2P on the forum? by paying with altcoins and then receiving bitcoins? I don't think that would be worth the cost of bitcoin right now.

It's true that this has been discussed many times. The safe method for investing in Bitcoin is to buy DCA and store it in a safe wallet. There are many safe wallet options for storing Bitcoin assets. Multisig wallet, hardware wallet, electrum and so on. If you have a lot of BTC assets, multisig wallets and hardware wallets might be good for you.

There are lots of ideas over here especially at the beginners and Helps section you would see them, then back to your question.. is either you buy bitcoin from exchange or from p2p over some users here who do provide such services and the next you need is to download an electrum wallet it's more safer and preferably to use. You don't have to store your bitcoin in any exchange site because you don't have full control of your coin, after purchasing from exchange that is more friendly to your country moved them out, and before that make sure to pass kyc to avoid drama while your coin is inside the exchange. But if you cares about privacy I will advise to buy from p2p where you have to pay with other altcoin then you will receive BTC to your electrum wallet.

Nowadays bitcoin price increased. This correct time to buy the bitcoin. Kindly give the some solison for this. Am try to buy the bitcoin. But I need some ideas for bitcoin. Kindly help.