percentage of your income you dollar cost average in bitcoin

ginsan

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Quote from: bots1 on December 01, 2023, 11:36:08 AM

So far I have no income that I can set aside because I don't have a fixed income such as a monthly salary. So for me, depending on the income I get from working part time, if sometimes I get a large income, I set aside half to invest in Bitcoin and the other half for daily living needs and also other family needs.

Well, if there is no passive monthly income, it will be difficult for someone to invest regularly in Bitcoin every month. But this doesn't seem like a big obstacle because of course someone has an income every day, sometimes large, sometimes small, so if today income is greater, we can set aside some to invest in Bitcoin. I have seen many of them who invest 10% of their salary regularly in Bitcoin every month and that is a fairly stable percentage if they get the same salary every month.

So I invest 10% and sometimes 20% of my monthly income in bitcoin. But that could change because if I get additional bonuses I will allocate more to buy Bitcoin. It all depends on themselves and how well they can manage their finances so as not to lose balance if something happens to their economy.

bots1

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So far I have no income that I can set aside because I don't have a fixed income such as a monthly salary. So for me, depending on the income I get from working part time, if sometimes I get a large income, I set aside half to invest in Bitcoin and the other half for daily living needs and also other family needs.

armanda90

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After getting married and having one child who is almost two years old, around 40% of my income is used for investment or savings in Bitcoin, I have weekly income trough forum and trading in cryptocurrency another passive income although not consistency every day due have on floating position right now after my portfolio altcoin assets price drop. Its not easy how to manage well my income actually after married and have children, for all of you still single manage well your income and put more than 80% for saving or accumulating bitcoin as long as you don't have dependents.

Difference cases later when having family and need extra outcome for your daily needed until allocated fund for healthy care to your wife and your children. Current now almost 60% of my assets in cryptocurrency as long term investment, have balance for spending fund as investment assets and holding assets in the bank.

_BlackStar

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There's no set percentage - just do as long as I have the budget. Moreover, there is no specific plan to consistently do it every month for one reason or another - so adjustments can happen between one month and another. It all depends on how much I have to spend to finance my needs in each different month - it varies a lot because unplanned expenses can usually also ruin DCA plans if you want to maintain consistency.

If someone is able to save a lot of budget every month - then of course the good thing is to do DCA on the investment you are interested. I don't do it every month - but will only do it whenever I have the budget.

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

I'm not sure about it.
Because of this, sometimes it is not certain how much and when.
but at least, I often continue to hold the BTC that I received from this signature campaign payment. Although it's not always 100% because sometimes I also need cash suddenly and urgently, to avoid various debts, it would be better to take profits from the BTC that I have at a small percentage. Luckily, up to now, there is nothing too urgent that I need a large amount of, so I still have the opportunity to hold again. However, I fully understand the various risks that may occur in the future. But what is certain is that DCA is the best way. If we have truly free cash, depositing it and then investing it in Bitcoin is the main thing I need to do to prepare for the bullish era. This is one way I save, in a very simple sense.

pawel7777

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Quote from: pixie85 on September 21, 2023, 03:49:20 PM

DCA investor will buy bitcoin every month which can lead to him buying at the same price over and over even when it's the monthly high. You could happen to buy at 30000, then bitcoin goes down to 25000 for 3 weeks and next month be back at 30 which happens to be your DCA day.

This is theoretically possible but, in practice, it's very unlikely. But even if that happens, if the long-term trend is bullish, you'll still get there. To mitigate that risk you could be buying twice a month or even once a week, but that's not really necessary.
Buying low and selling high is superior to DCA, but only if you can reliably predict the future. Everyone is smart looking at the past price-movement charts, but making decisions in the present time is a completely different story.

lalabotax

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

This will depend on each individual and in my opinion the amount we can afford is the most reasonable amount, without having to force ourselves to always do the DCA. And sometimes this amount is not the same every month, because sometimes our financial conditions and needs may be different each month. Here, for me personally, the rate is usually between 10% - 30%. However, sometimes in one month I don't do DCA at all because it is an urgent need and I have to prioritize these expenses rather than forcing myself to increase my accumulated investment. And from that percentage, don't think it's a big number. It's a small amount, but for me it's quite satisfying. especially if you can be consistent every month even though this is not easy. What is certain is, don't let us push ourselves too hard with this because this can put more pressure on us.

pixie85

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I don't have money to DCA right now. I never really liked this way of investing, much rather prefer to choose a point where the price is cheap and have no regrets.
When bitcoin falls by more than 50% it's usually cheap and you can start buying. It doesn't have to be all your money at once, but it's a great point to start.

DCA investor will buy bitcoin every month which can lead to him buying at the same price over and over even when it's the monthly high. You could happen to buy at 30000, then bitcoin goes down to 25000 for 3 weeks and next month be back at 30 which happens to be your DCA day.

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In my case it's just 20% or less.
I have 80% of my liquid assets in bitcoin 2% in cash and 18% on a bank account.
I don't DCA a lot, just the money I earn from the forum which is roughly 20% of my total monthly income, so I use the rest to pay my bills and get food on the table and hold my bitcoin.
If we don't go to a new ATH in the next 2 years, it's still fine as I was planning to drain my bank account anyway and go cash and bitcoin only.

Quote from: _act_ on September 13, 2023, 08:28:01 AM

I have 70% of my income in bitcoin and I am still buying more. If bitcoin continue to fall, I will still buy more. If bitcoin get to $100000, it would be good for me.

The remaining 30% are on altcoins. Not just altcoins because most of them are shit coins, I have the remaining 30% on good altcoins with high market cap.

Does this mean you have 100% of your income allocated into DCA? How do you pay your bills? Cheesy

doomloop

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Quote from: Minecache on September 20, 2023, 08:57:26 AM

What coins do your assets consist of and how do you manage their volatility so as not to affect your business profits and daily expenses? Because as we all know, the crypto market is volatile and sometimes huge volatile will cause the value of our currency to lose a lot of value.

I'm the opposite of you, I can't control spending and save well when I have cash in hand. But if that money is kept in a bank card, I can control everything well, including savings.

How does that make it any different whether you have the money as cash or in credit in your bank account? If someone has created a budget and spends money only according to that, they can always save money whether they are kept as cash or they have it in their bank account. However, if someone spends money without making a budget and spends on anything without keeping a count, this way the money tends to finish way more quicker than that.

That is the reason why I always recommend people to create a budget and spend according to that so that they can also have some savings after all their monthly or weekly expenditures. When you spend money according to that budget, you will not spend on extra things which makes you save more money.

pawel7777

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

I didn't really intend to do a DCA, but I'm hoping to hold my signature campaign earnings until at least the new ath (if that happens at all). Since pay-out rates are set in USD (and paid in btc) this is essentially no different than doiing DCA.

Coming up with a proper methodology is not an easy task and would largely depend on your goals. i.e. if your goal is to earn as much as possible on the next bull-run - just put in it as much as you can afford. But if your goal is to hit a specific amount of profit, then it gets complicated and would require you to assess what the realistic expected peak price is, and estimate the timing and the pace of price-growth till we get there. From that, you'd have to calculate the size of regular payments.

Franctoshi

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

I don't make it compulsory because I'm not in competition with anyone, So mine varies and I can do 5%, 10%, and 20% depending on what comes in at the end of the month because I have various sources of income including the business I'm running, therefore my allocation also depends on how much profit or income that I realized at the end of the month, and if I have a rough month that month I skip because I ensure I'm risking what I'm good at losing.

tjtonmoy

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Quote from: Silberman on September 20, 2023, 11:06:20 PM

however it is as if people simply forgot about how bad credit can be, as in the generations before credit cards were invented people were very wary about asking a loan, while these days that fear has disappeared completely when in fact people should fear loans and credit cards more than ever.

It is like a story that I'm about to tell now. So there was this cat living in a house. Quite healthy and playful. He was catching every rat in the house and living happily with its owner. So the rats became annoyed and were trying to find a way to stop the cat. Finally, those rats came up with a plan. As the cat was very healthy and playful, it was able to catch those rats quite easily. So those rats made a plan to feed the cat a lot and make it fat. And so they did. Now the cat would only sit around and sleep all day because it was unable to move freely and catch those rats.

Now imagine that food as the loan that you get from the banks or cards. You are the cat and those rats are banks or cards. They feed you in more easier way so that you can become fat and those banks can take advantage of it. That's how dangerous loans are. You won't realize that before it's all gone.

Silberman

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Quote from: tjtonmoy on September 17, 2023, 10:18:33 AM

Quote from: Silberman on September 17, 2023, 12:19:12 AM

~Snip

I don't own any card or have any Bank account. I only use paper money and sometimes digital local currency transfer methods. Trust me, this has helped me a lot in terms of saving money. I can keep track of how much I am spending and control if I am about to spend some extra. I also keep a minimum amount of money in my pocket while going outside. No more extra spending on anything.

Card usage is a major problem while keeping a strict budget and saving. People always think that they can use this money now and pay it back later. But this is the same as borrowing money from others. And once you are in debt, it goes like a cycle. Once people get into this loop, it is very hard to get out. It keeps on going. So if you think about it, I am better off without them. I guess I'm doing a pretty good job here.

I have a debit card because I cannot really avoid having one, but I do not own a credit card which is what ends up getting people into a lot of trouble, especially since not only they are taking a loan, they are taking a very bad loan in which they will need to pay huge interest rates if they do not pay it immediately, however it is as if people simply forgot about how bad credit can be, as in the generations before credit cards were invented people were very wary about asking a loan, while these days that fear has disappeared completely when in fact people should fear loans and credit cards more than ever.

tjtonmoy

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Quote from: Minecache on September 20, 2023, 08:57:26 AM

What coins do your assets consist of and how do you manage their volatility so as not to affect your business profits and daily expenses? Because as we all know, the crypto market is volatile and sometimes huge volatile will cause the value of our currency to lose a lot of value.

I'm the opposite of you, I can't control spending and save well when I have cash in hand. But if that money is kept in a bank card, I can control everything well, including savings.

The thing is, most of the money I make from my business will be reinvested into that business to maximize the profit. I need very little to live my daily life. And the amount I hold in crypto assets is most likely my savings. I use some from it every now and then but as that is not a huge amount, any kind of market volatility will not affect my savings. I only keep BTC because that's the one I trust the most. And some extra stable coins that I can sell and use. But the majority of my coin is Bitcoin. I do DCA to accumulate Bitcoin so I am safe here too and my goal is long-term.

And that's all. That's how it goes for me. Every person has their own way of doing things. For me, it's hand cash that helps me to save and not the cards. It is quite the opposite for you. So all I can say is, do whatever fits you the best. As long as it's good for you, you can stick to it.

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Quote from: tjtonmoy on September 18, 2023, 07:45:10 AM

Quote from: Minecache on September 18, 2023, 03:49:46 AM

You are one of the rare people who say you don't have a card or any bank account unless you share an account with your wife or relative. Do you have an outside job? Since very few companies pay in cash these days, most will transfer a fixed monthly amount. But even if you don't use the card, what does that have to do with your savings? I have several bank accounts but I have no trouble saving. Furthermore, how can you preserve your assets when you have a large amount of money without a bank account?

I don't have a job. I am into business. I keep my assets as crypto and only keep some to myself that I need every now and then. Now about savings and its relevance to cards. With cards like credit cards, you feel like you are going to have an unlimited amount that you can spend. But in reality, it's a certain amount and you are borrowing that money. And people have talked about how borrowing money and getting into debt can affect your savings. You will be forced to pay back the amount that you could have saved. It that does not make any relevance to saving and cards then I don't know what does. And with debit cards, you spend what you have deposited. But with transactions like this, your emotions will influence you to spend in some situations where you don't need to. With hand cash, that is more unlikely to happen.
As for me I went out with only what I need to make the journey and what I need to buy. And some extra for emergency situations. I mange my spending like this without any bank account or any cards.

What coins do your assets consist of and how do you manage their volatility so as not to affect your business profits and daily expenses? Because as we all know, the crypto market is volatile and sometimes huge volatile will cause the value of our currency to lose a lot of value.

I'm the opposite of you, I can't control spending and save well when I have cash in hand. But if that money is kept in a bank card, I can control everything well, including savings.

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

When it comes to saving money each month I try to take away 10% of my salary at the beginning of each month. Like that I can ensure to increase my investments every month before using money for unnecessary purchase. I still try to reduce my expenses each month to find additional money to use for my investment. So the 10% is the lowest amount I save each month, on top of that comes any money that I didn't spend the previous month. On average I think that I save 15% of my salary. Most of my money goes down for fixed costs like rent, utilities and food. Saving expenses usually comes from not eating outside that much and find some business to increase income. I usually try to sell every month a few older things on ebay to get more money for investing. Financial risk doesn't really concern me in the regard that I would save less or more money each month. My main approach to buying crypto currencies is the DCA method where I buy every month new coins and don't really care about the current price. As long as my portfolio is growing and I have a cheap average purchase everything is okay.

tjtonmoy

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Quote from: Minecache on September 18, 2023, 03:49:46 AM

You are one of the rare people who say you don't have a card or any bank account unless you share an account with your wife or relative. Do you have an outside job? Since very few companies pay in cash these days, most will transfer a fixed monthly amount. But even if you don't use the card, what does that have to do with your savings? I have several bank accounts but I have no trouble saving. Furthermore, how can you preserve your assets when you have a large amount of money without a bank account?

I don't have a job. I am into business. I keep my assets as crypto and only keep some to myself that I need every now and then. Now about savings and its relevance to cards. With cards like credit cards, you feel like you are going to have an unlimited amount that you can spend. But in reality, it's a certain amount and you are borrowing that money. And people have talked about how borrowing money and getting into debt can affect your savings. You will be forced to pay back the amount that you could have saved. It that does not make any relevance to saving and cards then I don't know what does. And with debit cards, you spend what you have deposited. But with transactions like this, your emotions will influence you to spend in some situations where you don't need to. With hand cash, that is more unlikely to happen.
As for me I went out with only what I need to make the journey and what I need to buy. And some extra for emergency situations. I mange my spending like this without any bank account or any cards.

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Quote from: tjtonmoy on September 17, 2023, 10:18:33 AM

Quote from: Silberman on September 17, 2023, 12:19:12 AM

~Snip

I don't own any card or have any Bank account. I only use paper money and sometimes digital local currency transfer methods. Trust me, this has helped me a lot in terms of saving money. I can keep track of how much I am spending and control if I am about to spend some extra. I also keep a minimum amount of money in my pocket while going outside. No more extra spending on anything.

Card usage is a major problem while keeping a strict budget and saving. People always think that they can use this money now and pay it back later. But this is the same as borrowing money from others. And once you are in debt, it goes like a cycle. Once people get into this loop, it is very hard to get out. It keeps on going. So if you think about it, I am better off without them. I guess I'm doing a pretty good job here.

You are one of the rare people who say you don't have a card or any bank account unless you share an account with your wife or relative. Do you have an outside job? Since very few companies pay in cash these days, most will transfer a fixed monthly amount. But even if you don't use the card, what does that have to do with your savings? I have several bank accounts but I have no trouble saving. Furthermore, how can you preserve your assets when you have a large amount of money without a bank account?

qwertyup23

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Quote from: cafter on September 13, 2023, 07:44:11 AM

what portion of your overall income do you keep aside for the purpose of dollar cost averaging in bitcoin, and what methodologies or criteria do you employ to establish this allocation, thereby guaranteeing a well rounded strategy that aligns beautifully with your individual financial objectives and your level of comfort in dealing with financial risk?

As a law student, I have no means for a stable income. The only way I receive money is through my savings that are given to me by my parents every month. With this fact and along with my weekly campaign signature earnings, I save majority of my BTCs and use at least 10% of my monthly savings to be converted to BTCs in our local exchange.

While this kind of strategy is considered as a slow-burn method, it gets the job done given the circumstance that is available to me currently. Perhaps if I graduate two (2) years from now and I receive a monthly income, I would definitely consider adding another 10% of my monthly income to be totally designated to cryptocurrency HODL and long-term investments.

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