Topic: Now buy and hold the bitcoin is profitable (Read 265 times)

It is encouraging to see that you are serious about profiting from bitcoin investment as the bull run season approaches. Simply buy from a reputable exchange in your country and store in a non-custodial wallet. When you save in a non-custodial wallet, your private key is the password to your funds, so don't lose or expose it to the public to keep your funds safe. Also, prepare yourself to withstand market volatility and avoid exiting the market too soon, just as the bull run is about to begin. I wish you the best of luck with your first bitcoin purchase and the profitable journey you’re about to embark on.

First of all, learn about Bitcoin so that you really understand it. it's not just about buying Bitcoin because the price is rising. Because, the importance of insight and knowledge can make us much better prepared to invest in Bitcoin. When you want to buy it, make sure you choose a platform that is reputable and continuously maintained. because we will probably have or encounter so many platforms on the site. And not all platforms are trusted. So, find an exchange that is reputable and large enough for you to buy Bitcoin on that exchange and hold it in your own wallet, this will be much better. Make sure you are ready for the various risks and don't panic when the market changes direction quickly. So, in this case, holding is a very good way to invest in Bitcoin for long term.

Basically, Bitcoin prices will continue to change. Drastic increases and decreases in prices and standards can occur at any time. Especially if there is news or issues that encourage it more, both positive and negative issues. Both will have the same effect on the price of Bitcoin. However, regarding purchasing Bitcoin, when the price is still low and still falling, we will be happier because we can get the price below. However, why be so afraid to buy it? The reason is none other than our concern that the price of Bitcoin will continue to fall and will no longer be able to rise.

Although in fact, it's just a matter of time. We cannot predict the market. but that doesn't mean we don't believe in Bitcoin. Many people here have proven how worth it Bitcoin is. So, there won't be any problems at whatever rate we buy it. What is clear is that we must be able to manage our finances in investing and the risks involved. This includes managing our emotions which may often be unstable.

Buying and holding bitcoin has always been profitable regardless of the season you put your price in. The thing about these newbies is that they fail to consider the fact that as long as you don't cash your bitcoins out during times of trouble (especially if you're caught up in the crossfire of crashes and price declines), you're literally set in a position where you can hold your cryptocurrencies for dear life and keep them in your wallet until such a time exists where things would get better for you and you can sell these coins for net profit.

It's all a matter of timing and being more smart with your investment money. Gone are the "buy high sell low" days of the cryptocurrency industry, from this point onwards, newbies should know that they can also hold coins during bear market, not only during bull seasons or whatever they thought.

If you want to buy Bitcoin now, it's not a bad idea because, considering the previous ATH of Bitcoin and the recent speculation about Bitcoin in the next bull market, I believe that Bitcoin might actually get to $80k and above that, which means that even if you buy Bitcoin now at the current price, you will still make a profit in the bull season. According to speculations, the price of Bitcoin might fall below $33k before it can finally go into the bull market, but there's no one that can actually predict the accurate price of Bitcoin, so if you want to invest now, you can use the DCA strategy and start accumulating gradually.

You have been here since 2017 and I think you are not a beginner anymore to ask questions like this because your experience is actually quite a lot should be and referring to the title you gave actually not only now even from the beginning of buying and holding bitcoin is one of the profitable actions.
As for some strategies, in this case surely everyone will have their own views on this but I think everyone's emphasis will definitely remain the same, namely investing by buying and holding the bitcoin you have until your goal of releasing the bitcoin is there.
In addition, some schemes can also be done such as doing it with DCA or maybe another thing by buying dip when there is good momentum.

I really wonder, why do most people think that when the price of Bitcoin starts to rise and increases drastically is the best time to buy? Isn't it actually much more worth it to start buying when the price is low, right? Maybe this is what many embers mean here, if many people still buy Bitcoin because of the hype when it rises, not because they understand what Bitcoin investment is like. Yes, even though buying Bitcoin now is still very worth it. But the words that Bitcoin has started to rise and this is the right time to buy, that's a bit strange. So it seems that when prices were still dropping drastically, it wasn't the right time to buy Bitcoin. Is it possible that many people are still afraid of volatility and also the drop in Bitcoin prices?

Buying bitcoin on the exchanges is the most popular means of buying bitcoin and I can also say that it is one of the safest way to acquire bitcoin. A smart person cannot be scammed through exchange p2p. It is also the easiest way to for newbies to buy bitcoin but it is advised that exchanges should function as wallets to newbies.

Very simple advice but the reverse is what the newbies do. When there is red they will think bitcoin will end today but when it's green they will be fine to buy.

You've been told that the places to buy bitcoin, are from exchanges and p2p, so you decide on the option you want. Although you need a trusted person to transact p2p with, but in exchanges you don't need any familiarity, just to follow the terms and conditions of your preferred exchange and guard your self against scam merchants in exchanges p2p.

Buying bitcoin, anything before halving is OK by me, because scarcity then will trigger price increase. Although it's better to buy in bearish seasons, because price would dipp and it'd be cheaper.

Price is increasing now, but it's still not too late to start buying and hold, since we've not reached proper ATH and bull run. All the best as you make your important bitcoin investment decision.

You already concluded that now is the right time to invest in bitcoin, so which solution do you need? Which ideas do you need about bitcoin? I think it will be better if you are specific about what you want to learn, you haven't said anything you want to learn about. From your post, I can say you are new to bitcoin. Make sure you take your time to learn the basics of bitcoin, learn about wallet security, learn how to properly secure your private key, and keep in mind that you are holding bitcoin in your wallet for a long period of time.

If you want to purchase your bitcoin, you can easily buy it from an exchange, but don't make the mistake of storing your bitcoin in exchange. A lot of people have lost their bitcoin because they decided to leave it on exchange after buying it, and the exchange got compromised, and they lost their bitcoin. Make sure you transfer your bitcoin to a non-custodial wallet after buying your bitcoin from exchange, and make sure you properly store your private key. The only time I do recommend you leave your bitcoin on exchange is when you are trading, and if you know you won't be trading for some time, then withdraw your bitcoin from exchange.

There’s no perfect time to buy but if this assumption is due to current market price action then better be mindful of it ‘coz there’s no assurance bullrun has already started. This could still be a bulltrap and the market could still undergo price correction on one of these days. Why? Simply because there’s no strong reason for a continuous pump yet. But as I’ve said, there’s no perfect timing; if you have bought at this point and perhaps a correction occur, then be sure to just hold and avoid selling ‘til the market again recover. Bullrun is expected to happen next year after Bitcoin halving. So if you could hold that long and firm, then it would be fine buying at the present time and just ignore sudden price dumps.

It may seem like the Bitcoin market is slowly going down. Bitcoin ETF issue was not accepted nor rejected but delayed. We wouldn't be surprised if the Bitcoin ETF is slated to be approved by January. Now if the ETF is approved it is not the case that the price of Bitcoin will go up in the next day. At such a time we are in a dilemma whether the price of bitcoin will increase or decrease should I enter bitcoin or not. The main thing is to do your research and learn about the market, the market will always go up from here, the market will always go down from here. I will take an entry in Bitcoin from there when the market goes to the bottom, you can't. No one can say where the Bitcoin market will come back from. I think keeping these things in mind will make you a good investor in Bitcoin.

If the price of Bitcoin is increasing, you have to wait until the price gets a correction. After that, you can buy it again. But if you use the DCA method, you only need to pay attention to the time you have set to buy Bitcoin.

You can use the DCA method as people do. They use weekly or monthly time to buy Bitcoin regularly. That's all you need to do to be able to accumulate Bitcoin. By following the DCA method, you can buy Bitcoin regularly without paying attention to what the Bitcoin price is at that time.

You can also use the method of buying Bitcoin when the price reaches a low price during a correction. But you may have difficulty finding how low it is because the price of Bitcoin can move anywhere. So you should first determine when you want to start investing in Bitcoin. But if it's about the right time, you're late because if you've seen the Bitcoin price of $ 15k- $ 17k, that's the lowest price. Many people have bought Bitcoin at that price, especially people who have a lot of money.

Are you trying to buy for investment purposes or are you trying to buy to make a quick profit based on the price increase and drop that have been occurring recently and you would like to take advantage of the price? If that's the case, I will say you should be careful, for the price can't be predicted and you might end up running into losses instead of taking home profit.
 
If you have considered your choice very well and still want to take the risk, then the best way to buy bitcoin now and make a profit is to day trade it (which is not all that safe). You can fund your trading account and start monitoring the market. If you enter with good money and have the best entry, you can make the least amount possible.
 
If you want to buy for accumulation purposes, I will advise you to use DCA, as it will save you the stress of thinking about what the price will be in the coming days, but as you continuously keep on buying, you will accumulate enough to give you profit in the bull run. But you should also consider the place where you buy, as the fee right now is relatively high and you might not want to be withdrawing bitcoin from centralised exchanges. Dex will be your best place to buy from, both for privacy and fee reasons.

Why do you need the idea to buy Bitcoin when in the first place you said that now is the right time to buy it? just like your statement, this is a great time to buy and you don't actually need some solution for that. If you are sure of your statement, just do it, no need to delay, but if you are still in doubt, it's best not to buy. It's simple, all the decisions are yours.

Obviously, Bitcoin is gaining roots unlike the previous years. Many countries in Africa are now beginning to embrace this technology especially Nigeria and Kenya. I believe that within the next decade, the mass adoption we've anticipated for years will be revolutionized in Africa and the rest of the world.

Seems like you are just starting to invest in Bitcoin but you are also already a member of this forum which is good, cause there's already a lot of existing thread here that is actually helpful for the newbies. But before you invest, it would be better to invest in yourself first cause looks like you don't know when to start as you lack knowledge. You mentioned that Bitcoin has risen its value and it would be a good time to invest, which is still good cause Bitcoin would be better and much more profitable in long-term investment, still the best time to accumulate Bitcoin when it is in a bear market, cause you would profit from lowest when Bitcoin increase it will be a huge profit. There's no such late comers in Bitcoin and you don't need to put huge amount, you can use methods like DCA.

Besides that most exchange has huge bitcoin withdrawal fees transferring to wallet so storing bitcoin to exchange is a no-no not unless your active daily trader.

P2p dex exchange such as bisq is most recommended for those who are privacy(private) users. But mostly does want to use the centralize one which i suggest binance, there are lots of options to buy there if your country is not restricted, and KYC is required so having ID such as natl id, driver's license is a must.

Correct time to buy Bitcoin?

Seriously it's hard to say what is correct time to buy Bitcoin. Because if it relates to your financial status at the time and it also relates to when and what price you will exit.

A good investment is only when you buy and exit with a profit. Anytime you can buy then exit with a profit is good time.

You can buy Bitcoin at $20,000 but it is not a good time if you exit it at $16,000.

Fortunately if you can hold long time enough, you will have many good time to buy bitcoin because most of days are profitable ones.
https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/

So you're looking to get into Bitcoin? Awesome! Here's my two cents on it: Keep tabs on the market and price fluctuations, figure out how much you can reasonably invest to start, and find a solid platform to actually buy from.  I know it can seem daunting at first but Bitcoin is an exciting opportunity if you go about it carefully. Good luck with your crypto adventure!

buy bitcoin on the exchange if you are unsure about p2p transactions then import it to a non-custodial wallet and keep the private key safe
storing assets on the exchange is not very safe because hacking can happen at any time as has happened before
and remember never to trust 100% someone you know to help you make a purchase

Oh yaa, don't buy bitcoin when the market is green, wait until the market is red first so you can feel the profits if the market turns green again

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.