This is my plan. - page 4. | Bitcointalksearch.org

pawel7777

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Quote from: CoinFoxs on October 17, 2023, 11:30:20 AM

Your plan seems good but keep one thing in mind there is fluctuation in altcoin’s price so only choose top 20 coins for trading because their price is almost stable there will not be any huge dip in their prices. And electrum wallet is good to store bitcoins, you can consider coinbase also to store your bitcoins

Why would you even mention altcoins at all? OP specifically said he's looking to invest in Bitcoin.
If we believe that the cyclical price movements will continue - this is a horrible time to even think of buying altcoins. This is the stage where Bitcoin is going up faster than altcoins. The so-called "altcoin season" will come later, but frankly, the best strategy for most is to avoid them altogether.
If you look at the historical data, you will see that the composition of the top 20 has been changing quite drastically. Many of the previous top altcoins are now completely forgotten and not even in the top 100 anymore.

Agbe

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Procrastination is the worst thing you don't need to do. If you have the money, I advise you to buy now as bitcoin still on the low key. As you said, you have the knowledge and want to invest $50 every month, it is a good plan, invest now and continue the bitcoin education. But you would disclosed your monthly salary to us because we are not interested to know your monthly income if you want to invest on bitcoin there was no need for announcement. Yes Electrum is one the best for investment but you still need to be security conscious. One thing to plan and another thing to implement and the last one is to achieve the plan.

CoinFoxs

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Quote from: Su-asa on October 05, 2023, 05:59:35 AM

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Your plan seems good but keep one thing in mind there is fluctuation in altcoin’s price so only choose top 20 coins for trading because their price is almost stable there will not be any huge dip in their prices. And electrum wallet is good to store bitcoins, you can consider coinbase also to store your bitcoins

Natsuu

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Quote from: Ricardo11 on October 14, 2023, 08:10:33 AM

Since you don't have enough knowledge about investing in Bitcoin, do enough research and gather a lot of knowledge about investing before you invest. Everything you need to know about your investment. And before investing first prepare yourself for full investment. If you get a salary of $300 per month, if you invest $50 in bitcoins out of that, you can very well serve your family and all your personal expenses with $250. You don't need any exact time to buy bitcoins, if you invest in long term you will definitely get profit. Just invest for long term. If you continue to invest in Bitcoin in this way, you will surely achieve great success in life.
And good luck to you

Simply don't do anything that you don't know in the market. The market is a very dangerous place for those who are pressured to make money. If you present you wallet or coins, the market will be willing to take that from you and you have nothing you can do about it. If you're going to buy an altcoin for greater gains, make sure you've done your research and it is not just a coin for pump and dump.

Having enough money is enough enough. You have to be very smart and discipline when you are engaging in the market.

kotajikikox

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Quote from: xzy887 on October 08, 2023, 10:51:19 AM

Quote from: kotajikikox on October 08, 2023, 07:29:23 AM

Quote from: Ayers on October 06, 2023, 02:50:02 AM

Depending on each person's income and circumstances, we will have different investment plans in bitcoin. So, I have no opinion on your plan because only you know what is best for you. But investing and accumulating bitcoin is not as simple as many people think, so I hope you will continue to learn every day to have a deeper look at bitcoin and have stronger faith in bitcoin. There will be many challenges waiting for you, I hope you can maintain your plan as long as possible.

Nice show of Image and yes , I can relate to this , as the crypto investment sometimes are easier said than Done.

Quote from: xzy887 on October 08, 2023, 02:40:01 AM

It's long holder btc road

But if you think of bitcoin as a dream, there may be another path for you. Because then there is no need for you to cross the road so hard.

where did you get that I THINK BITCOIN IS A DREAM?

who told you about that? because I dont? I am dreaming of having more and more bitcoin , and that for now is getting reality so don't put words into my mouth OK?

Quote

You just invest there and sleep peacefully. Like this photo you will cross the road in a helicopter (profit by investing in bitcoin). When the crossing is over (bitcoin goes up a lot), wake up and see that you have reached the point of success (investing profit).

as if yo deeply understand the market and the nature of bitcoin , as if that easy to put in action those words.

Prove that you are a Bitcoin investor before teaching us about this, because we have been holding for long now;.

Ricardo11

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Since you don't have enough knowledge about investing in Bitcoin, do enough research and gather a lot of knowledge about investing before you invest. Everything you need to know about your investment. And before investing first prepare yourself for full investment. If you get a salary of $300 per month, if you invest $50 in bitcoins out of that, you can very well serve your family and all your personal expenses with $250. You don't need any exact time to buy bitcoins, if you invest in long term you will definitely get profit. Just invest for long term. If you continue to invest in Bitcoin in this way, you will surely achieve great success in life.
And good luck to you

AHOYBRAUSE

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Quote from: Su-asa on October 05, 2023, 05:59:35 AM

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

If you are smart you become a valuable part of this forum.
That way you can level up and maybe get into a signature campaign.
At the owest level you still earn around 40-50$ in btc which then you can save every month without using your hard earned money from your job.
That way you can maintain your current money situation but still add plenty of $ in btc every week/month.

Good luck with your plan though.

terrific

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Quote from: Xampeuu on October 10, 2023, 11:25:28 PM

in developing countries, income of that size is normal, and I think that monthly expenses of only $100, it is possible for him to still be single, with the goal of setting aside money for investment, this has become an extraordinary thought for young people,

Being single and with that expenses isn't a lot and that will allow him to be able to invest in Bitcoin at any point of his life.

Quote from: Xampeuu on October 10, 2023, 11:25:28 PM

because in developing countries there are many among those who follow a hedonistic lifestyle to emphasize their status so that even a house will be difficult to find

And with the age of flaunting in social media, this makes them move together with them because that's what they think is the right thing to do.
But without preparation of their future lives, they're making things too complicated for themselves if they don't have a plan to invest to valuable assets like Bitcoin.

Antotena

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Quote from: GeorgeJohn on October 09, 2023, 12:31:58 AM

Action you can invest as you are learning is not bad but the problem is that do you understand the system of bitcoin, do you know that investing in bitcoin it doesn't necessarily mean that bitcoin will make you reach or bitcoin will give you profit aa you expected, remember that bitcoin is a digital currency that is decentralized and the price circulation is not something I know that increases every day or been stagnant in price, so investing in bitcoin their is every tendency that the price of bitcoin can decrease at any point in time, so bitcoin investment is something you will calculate very well before invest and secondly use your spare money for bitcoin investment.

Same way I over did myself and lost access t wallet because I think I know much already about bitcoin but bitcoin is different thing. You need to calculate everything before doing it. You can loss your all you have invested in bitcoin if you are over confident, and not careful of minor things, you can may end up not having anything on your wallet if care is not taken.

Another angle people don't understand is bitcoin can not give them riches as they expected, the days of Christmas profits are now of the past, we live in the presence where big money makes big profit whole small profit makes small profit.

pawel7777

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Quote from: Haunebu on October 11, 2023, 12:50:28 AM

Here's the thing op. So many people keep saying that now is the best time to buy BTC since it's price is low and it will increase and reach its new ATH later, but that's all wishful thinking since BTC can even drop like crazy.

That's true, but your advice has no value. Absolutely any type of investments could drop in value (including fiat money) and nothing is ever guaranteed. But you have to invest/store your wealth somehow, so there's no escaping the risk. If you think that buying BTC now is not a good move and/or there are other, better assets to invests - then explain your reasoning. Only saying that "it could drop" is just stating the obvious and is not very helpful.

SeriouslyGiveaway

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Quote from: Haunebu on October 11, 2023, 12:50:28 AM

Here's the thing op. So many people keep saying that now is the best time to buy BTC since it's price is low and it will increase and reach its new ATH later, but that's all wishful thinking since BTC can even drop like crazy.

There is no guarantee that you will earn profit on your investment at any point in the future which is why you should invest only what you are willing to lose.

- Hey, can I ask you a question? If now isn't a good time to buy BTC, when do you think is a good time? When it hits its all-time high (ATH), right? Grin

- Investing always involves some level of risk, and it's wise to be cautious. But if you're overly hesitant and just keep waiting for a significant price drop, you might miss out on opportunities. So, I believe that buying BTC right now using the DCA strategy is a good option because we can't accurately predict when it'll hit its lowest point.

Outhue

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Quote from: Su-asa on October 05, 2023, 05:59:35 AM

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

I respect the fact that you are not in rush to invest in Bitcoin but bear market is the best time to invest in Bitcoin, if you can't do it now then maybe few years down the line? Just don't buy the top thinking you are doing the right thing, if you are making $300 every month and $50 is all you can afford it's good enough so don't wait, this bear market is scaring people off investment and now that it seems like a world war 3 is about to begin, all these are just distractions.

Electrum wallet is a good choice but make sure you keep your recovery seed safe offline, somewhere no one else can get to, and don't even think about storing them in your online email account like some people use to do, online email accounts can get hacked too.

If you have the money I think a Trezor hardware wallet is a lot safer and more secure than an Electrum wallet, think about this if you can afford the money, I think a Trezor hardware wallet costs $69 for the Trezor model one and a bit over $200 for the more advanced Trezor model T.

Haunebu

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Here's the thing op. So many people keep saying that now is the best time to buy BTC since it's price is low and it will increase and reach its new ATH later, but that's all wishful thinking since BTC can even drop like crazy.

There is no guarantee that you will earn profit on your investment at any point in the future which is why you should invest only what you are willing to lose.

Strongkored

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Quote from: Su-asa on October 05, 2023, 05:59:35 AM

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

The long term plan is quite good but I'm sure you will experience obstacles when you start implementing it and I can say that setting aside $50 from a total income of $300 is quite large, maybe you are not married and live with your parents because you can set aside quite a lot of money for investment, because one thing that can drain our income is the cost of renting a house/apartment apart from food costs.
The good things that you understand enough to store your Bitcoin in Electrum because this is a wallet that is quite widely used by Bitcoin lovers and this wallet is quite easy to use.
What you may also encounter is when you start to collect and after that the price of Bitcoin drops so you become a little unhappy and it requires patience to see your investment move in the direction you expect.

Patrol69

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It is a very good decision and a good plan. Those who can plan like this can live a very good life even with a relatively small amount of income. How nice you have planned with 300 dollars monthly salary, many people can't plan so well even with 1000 dollars income. If your household expenses are gone by $100 then you get another $200 at the end of the month to do all the other planning. Out of 200 dollars, your plan is that you will save 100 dollars and 50 dollars you will spend for your own needs and the remaining 50 dollars you will invest in monthly bitcoins. If every month you invest 50 dollars in bitcoin then at the end of the year you will have 600 dollars invested like this if you can do five years then at the end of five years your total investment will be 3000 dollars and in these five years I believe the bitcoin market will go higher and there You can earn more money from

Xampeuu

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Quote from: kro55 on October 10, 2023, 10:23:12 PM

Quote from: bayu7adi on October 10, 2023, 09:10:28 PM

Quote from: Su-asa on October 05, 2023, 05:59:35 AM

[...] my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things.

In your country, is it common for someone who is already working to continue having all their living expenses covered by their parents? Considering that $100 in monthly expenditures can be quite challenging. Or perhaps, is this merely a representation with the intention of highlighting it as a percentage of income?

In large European and American countries, the minimum monthly wage might be around $1500. If we follow the allocation you've suggested as a percentage, then setting aside $250 for Bitcoin would be feasible, I hope. This way, you could eventually accumulate the leftover portion of your monthly living costs to invest in BTC by the end of the month.

Commence the Dollar-Cost Averaging (DCA) strategy and do not lose sight of your financial goals. Every action should have a clear objective to prevent becoming too caught up in the volatile price swings of Bitcoin.

Are you from developed countries? Because if you come from a developing country, an average income of 300 USD is common. It may sound unbelievable but that is the basic salary you will receive when working 8 hours/day and most people will find a part-time job to increase their income. You can spend 100-150 USD per month if you live alone and know how to save for the future.

$50 per month in bitcoin isn't bad for OP's income, what matters is how long he can keep it up. Because if he has a girlfriend or is married, with that level of income, his plan will be difficult to continue.

in developing countries, income of that size is normal, and I think that monthly expenses of only $100, it is possible for him to still be single, with the goal of setting aside money for investment, this has become an extraordinary thought for young people, because in developing countries there are many among those who follow a hedonistic lifestyle to emphasize their status so that even a house will be difficult to find

Xcode7

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Quote from: Bitcoin_people on October 10, 2023, 08:53:37 PM

Your plan will be great if you invest accordingly. If you put one-sixth of your income into Bitcoin investment, it will show you a huge capital accumulation in half a year. If you are working for a monthly salary of $300, then if you save $50 equivalent from that, you will definitely have a good amount of money in your wallet. In that case you will get a very good bitcoin beach phrase when you buy bitcoins with your savings. Of course you should then use a good wallet to keep your money safe. That's why you need to use a strong wallet so that your funds don't get hacked. Of course, if you keep investing bitcoins like this, you will have a good amount of bitcoins stored in your wallet at some point. So I think if you continue with this plan, you can definitely make huge profits when Bitcoin turns into a bull market.

Investing using savings (money that is not used to meet living needs) is a big advantage when the market is in a bad trend so we can wait much longer.
Of course that is the right plan, but in my opinion, knowledge about Bitcin must first be mastered before carrying out the plan so that you can make a profit because investing in Bitcin is not as easy as it is said, everything requires the right process and method.
Regarding security wallets, the first thing to pay attention to is the comfort and security of the assets we own.

kro55

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Quote from: bayu7adi on October 10, 2023, 09:10:28 PM

Quote from: Su-asa on October 05, 2023, 05:59:35 AM

[...] my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things.

In your country, is it common for someone who is already working to continue having all their living expenses covered by their parents? Considering that $100 in monthly expenditures can be quite challenging. Or perhaps, is this merely a representation with the intention of highlighting it as a percentage of income?

In large European and American countries, the minimum monthly wage might be around $1500. If we follow the allocation you've suggested as a percentage, then setting aside $250 for Bitcoin would be feasible, I hope. This way, you could eventually accumulate the leftover portion of your monthly living costs to invest in BTC by the end of the month.

Commence the Dollar-Cost Averaging (DCA) strategy and do not lose sight of your financial goals. Every action should have a clear objective to prevent becoming too caught up in the volatile price swings of Bitcoin.

Are you from developed countries? Because if you come from a developing country, an average income of 300 USD is common. It may sound unbelievable but that is the basic salary you will receive when working 8 hours/day and most people will find a part-time job to increase their income. You can spend 100-150 USD per month if you live alone and know how to save for the future.

$50 per month in bitcoin isn't bad for OP's income, what matters is how long he can keep it up. Because if he has a girlfriend or is married, with that level of income, his plan will be difficult to continue.

bayu7adi

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Quote from: Su-asa on October 05, 2023, 05:59:35 AM

[...] my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things.

In your country, is it common for someone who is already working to continue having all their living expenses covered by their parents? Considering that $100 in monthly expenditures can be quite challenging. Or perhaps, is this merely a representation with the intention of highlighting it as a percentage of income?

In large European and American countries, the minimum monthly wage might be around $1500. If we follow the allocation you've suggested as a percentage, then setting aside $250 for Bitcoin would be feasible, I hope. This way, you could eventually accumulate the leftover portion of your monthly living costs to invest in BTC by the end of the month.

Commence the Dollar-Cost Averaging (DCA) strategy and do not lose sight of your financial goals. Every action should have a clear objective to prevent becoming too caught up in the volatile price swings of Bitcoin.

Bitcoin_people

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Your plan will be great if you invest accordingly. If you put one-sixth of your income into Bitcoin investment, it will show you a huge capital accumulation in half a year. If you are working for a monthly salary of $300, then if you save $50 equivalent from that, you will definitely have a good amount of money in your wallet. In that case you will get a very good bitcoin beach phrase when you buy bitcoins with your savings. Of course you should then use a good wallet to keep your money safe. That's why you need to use a strong wallet so that your funds don't get hacked. Of course, if you keep investing bitcoins like this, you will have a good amount of bitcoins stored in your wallet at some point. So I think if you continue with this plan, you can definitely make huge profits when Bitcoin turns into a bull market.

Topic: This is my plan. - page 4. (Read 1566 times)