Topic: Refer to my previous topic: "Investing plan" (Read 521 times)

I do believe that people who like to do long term investments plans for bitcoin are smart people. You may not get to become rich overnight with bitcoin, but if you keep buying and keep holding then you are going to end up doing a lot better.

I understand that it may not be too simple, but we need to end up realizing that we are going to profit from it one way or another. Long term investment is very important, and doing it with something that is sturdy and strong is even more important. Back in the day people did that with gold, because we know that gold will be profitable and that means we are going to end up with a lot worse, and I believe that we should end up wanting something bigger, it will certainly help you, these days bitcoin is better than gold, so we prefer that.

Can you use Amazon, Ebay or Aliexpress to buy it?

I plan to use airgapped for a while. Of course, there was a feeling of trauma in using a hardware wallet because my device suddenly died. However, after I explored and got enlightenment about everything that happened to the damaged hardware, I was able to access the private key again and retrieve the assets that I had, which was a bit of a relief, I didn't give up, I also have future plans to buy a new Trezor model. But for now I might choose airgapped first.

I just went through your previous post where you were contemplating whether to invest in bitcoin or Altcoins. It's better you invest in bitcoin. Altcoin investment is not really safe, you can lose your investment at any moment. The coin that you choose to invest in can crash at any moment and might never recover again, some will end up being a dead coin. That's why I do discourage altcoin investment. But if you invest in bitcoin, even if there is a dump, it's a matter of time before it bounces back.

You also said you want to invest $1500. I hope that's not your life savings. Don't invest all your money in bitcoin. Always have money outside bitcoin. It's better to you invest little amount you can lose when making investments. Don't say because people are talking about bitcoin investment, you are also going to invest everything you are having in bitcoin.

Just make sure you properly secure your wallet private key. So many people have lost their private key just because they didn't properly secure it, and if you lose your private key, then you are already losing access to your bitcoin. That's why it's better you first learn about wallet security before buying bitcoin. Make sure anywhere you are storing your bitcoin, there should not be an internet connection. Because if your private key is stored online, it can be hacked by hackers, it's better for you to carve your private key on iron steel and store it in multiple places.

I quoted above but i think again with mistake.

MY trezor safe is on its way and waiting without patience. Thanks for your attentions.

Electrum is a great alternative as we all know, but at the end of the day, it is also an online wallet, and if you are not using an airgapped device. There will also be certain risks when you use it on an online device frequently. If you have a large amount of bitcoin, I think finding a new hardware wallet is urgent for you. I hope the fact that you once had a broken Trezor wallet makes you lose faith in them. They are electronic devices and sometimes there will be unexpected problems but as long as we still have access to our bitcoins it is not too big of a problem as it is not too expensive to own either.

Which country are you from and having difficulty purchasing a hardware wallet? I have a friend from Bangladesh and as he said, their country is very strict about bitcoin and they have difficulty getting hardware wallets. But there is always a solution to that problem, he asked a friend in India to buy it for him and then he went there to pick it up. I think if you're in a country where bitcoin is banned, you could do it that way too. Owning a hardware wallet is urgent, I think we should not hesitate if we have economic conditions.

Happy to be of help. Has your trezor safe 3 arrived? Actually, I missed your quote among others; that's why I am replying late. Well, buying a hard wallet to keep funds in it looks easy and must be an amazing experience. You assumed right; I have not used any hardware wallets yet because of the restrictions in my country, but once they are lifted, I will buy one, but my choice would not be a trezor or ledger. I will give it a try with something else, like a passport, etc. Overall, you should keep your hardware wallet and the seed phrase somewhere safe.

Never share with anyone where you have placed the key phrase or your hardware wallet.

I can't save every month to invest in bitcoin. I don't have enough money remaining after expenses so I'm happy he's capable to do it. The OP's going to invest $100-200 every month because he's believing in bitcoin but he shouldn't invest unless he's accepting it carries a risk.

I am waiting without patience to my Trezor .

Before it arrives I should look some guides using it (How to transfer and etc ) learn everything about it.

I have received several suggestions from fellow bitcointalk members not to place crypto assets in trustwallets, and I also know of several cases of unsafe trustwallets. I have also used Electrum for now, I was forced to access my wallet via Trustwallet to withdraw and transfer my savings in Trezor.

Thank you for providing feedback on this matter.

I'm still thinking about buying a hardware wallet, maybe in the future I will buy a hardware wallet again.

Why not. Electrum, a crypto wallet stores digital coins, if I noticed Electrum also implemented timelock functionality in the latest version, which means you can split coins by utilizing different chain lengths of 1x and 2x coins after a certain fork.

Why don't you buy a new Trezor wallet or use an open source wallet like Electrum or bluewallet? Entering the Trezor wallet seed phrase into the Trustwallet is not a wise idea at all. Trustwallet is not only an online wallet but it is also a closed source wallet and people are discouraged from using it. So far, Trust wallets are safe and you are not taking any risks but you are putting your bitcoins in danger by using closed source and online wallets. I think you need to change your wallet immediately.

Trezor is a good one. I also use it, my Trezor also had problems because the screen suddenly turned off after almost 1 year of never accessing it. Luckily, my Trezor wallet address can still be accessed via trust wallet with the Trezor seed phrase that I saved.
https://bitcointalksearch.org/topic/m.62889589

OP's investment planning is very good and very fitting when Bitcoin will also halve. There is no doubt that many also believe that Bitcoin will enter the 4-year bullish circle phase during the halving.

Aside from the given advice by earlier replies, I would like to add to never save your seedphrases and privatekey to a cloud storage.  Even if it is protected by password, someone might be able to hack that cloud storage and crack your password.  This link might give you a hint or explanation why storing seed phrases/private key online is not advisable.

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It does not intrigue me since I have no intention in putting my nose on other people's business.  I only focus on how much BTC I can accumulate myself since it does not benefit me if ever I know other people's BTC holdings unless I have a nefarious plan which is far from happening.  Besides it is an extra effort to investigate other peoples BTC stash when I myself have handful of responsibilities to do. 

OP, you've made good progress in your endeavor to invest your monthly income in bitcoin by finally acquiring a hardware wallet. For the time being, at least, you don't have to be worried about hacking or losing your bitcoin holdings in years to come. That your Trezor (hardware wallet) has to keep your bitcoin safe from future loss is happiness enough on its own.
Congrats on getting a hardware wallet for yourself. It is a good way to start

Your investment plan is actually great, try as much as possible to keep to it and if possible you can leave it in a saving plan like the Bitget shark fin where you still earn additional APR interest on it up to 7%.

Thanks community for your times. I am satisfied. <3

Isn't it intriguing how many bitcoins the "ordinary" individual has? Like asking, "How many dollars does the average person have in their wallet?" It varies by financial capabilities, investing strategy, and cryptocurrency interest. Your question regarding 0.1 BTC being satisfactory is relative, right? Good for what? An investment in crypto is a little stake in a potentially revolutionary financial system. Consider that Bitcoin's value is famously volatile. 0.1 BTC may be small today, but who knows tomorrow? In an uncertain future economy, what is "satisfactory"? If Bitcoin becomes popular, even a percent might matter. However, market changes or tighter regulations could affect its value and usability.

As you have choose electrum wallet for saving the amount of bitcoin that you have brought so its a good and safe wallet. Your other plan of investing in bitcoin according to your salary then it's also a good option because lots of people save large amount at once but when they needs money then they don't have a single penny.

Every person invest that amount which is affordable for him so on monthly basis may be 100$ or 200$ is affordable for you that's why you choose such amount for saving in bitcoin. No one should be in worried about bitcoin investment because it make your hopes stronger and make you able to get huge return and make your living style better than previous and present age. Once a person starts investment then he has more interest to put more money and gain more profit but think about your salary and expenses then use affordable amount into bitcoin if possible.