I don't know if anyone has talked about this before in this forum if anyone has done it before please pardon me I'm ignorant.
A lot of people especially my follow newbies are curious to know the various ways in which they can invest in Bitcoin, when it comes to bitcoin investment there are three main ways which one can invest and become productive.
buying and hodling:
Buying and holding is the simplest way to invest in Bitcoin, and it involves simply purchasing Bitcoin and holding it in a digital wallet. And there are different strategy in which one can use in accumulating Bitcoin and hodling which are.
DCA strategy ( Dollar Cost Averaging): this is an investment strategy where you buy Bitcoin at a regular interval, not minding the price. One can just set a particular amount which he or she will be using to buy Bitcoin it could be weekly or monthly. I'm using the strategy and it has been a wonderful experience so far.
Buying during the Dip: this is also an accumulation strategy it involves waiting for Bitcoin to dip before accumulating or buying.
Lump Sum: Some people decide to buy their bitcoin all at once at a price they feel is good for them. This strategy is referred to as Lump sum. one can just be saving till when he feels he has enough money he can just purchase Bitcoin using all the savings or one can use an inherited money to purchase all at once.
The main advantage of buying and holding is that it is simple and straightforward.
Trading:
Trading involves actively buying and selling Bitcoin in order to profit from price fluctuations. A lot of people uses this strategy and this strategy is sometimes completed and is not advised for a newbie to venture into it. trading involves speculating on Bitcoin price movements using CFDs. Before you venture into trading you have to Learn the factors that moves bitcoin price.
Mining:
Mining involves using computers to solve complex mathematical problems in order to earn Bitcoin as a reward. Me and my friends once mined Bitcoin on a particular app I think the app is called Bitcoin mining.
This process of mining will take you a lot of time and is also data consuming you need to have a lot of data to do this.
If I made a mistake or I didn't add something please I'm open for correction.
