Weekly income should keep bitcoin investment! - page 5.

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Quote from: Lucius on October 25, 2024, 05:24:50 AM

In addition to the saying "invest only what you can afford to lose", I would add something else very important "invest in such a way that you cannot lose what you have invested in". What I want to say is that every plan, no matter how good it is, can have a bad ending if we don't understand that investing in BTC is risky not only because of volatility, but also because of the possibility of being hacked (remotely) or robbed in a physical attack.

Therefore, in the first place, ensure adequate storage, and then be smart and keep your mouth shut and do not tell anyone what you have invested in - that way you have the best chance that nothing bad will happen to you.

Learning about Bitcoin wallets, understanding importance of non custodial wallets, open sourced and mastering how to back up wallet private key, mnemonic seed are very important for a safe start. A safe start means reducing risk of losing a wallet, get a hack, and fund stolen for a Bitcoin newbie.

Next is stay humble and keep your investment in secret. It increases privacy and safety for your Bitcoin fund and your life too. Risk to be kidnapped, killed as physical attacks is not too small if you are noisy about your investment in Bitcoin.

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If you'd started back when Bitcoin was cheap, say, around 2015, and invested weekly, by this year, you’d be looking at an average profit of around $120,000, or even more at today’s price. While it’s clearly profitable, timing plays a big role. To see significant gains, you’d likely need to increase your investment, but that really depends on your comfort with risk and your satisfaction level. My advice? Diversify. Managing risk is key to making any investment worthwhile.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

It is not wise for someone who is earning $40 per week to invest $10 weekly in bitcoin. If someone who is earning $40 per week follows this advice, it will be an aggressive buy, and he is also overdoing it, and it might take him off the game, partially or permanently. If you want to invest in bitcoin, use the money you will not need for like 4-10 years or more, so that you can be able to sort out your daily expenses without depending on your bitcoin investment to solve them. You should invest in bitcoin in a way you will enjoy your life. For instance, if you are married, don't allow bitcoin investment to stop you from not fulfilling your fatherly duties to your children or stop you from not taking your wife on vacation to strengthen your relationships.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

...Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

It is possible that you yourself, without knowing it, have now described a very common strategy for investing DCA. This strategy can bring big profits in the long run, but if you urgently need money and you have to sell BTC, it can bring you a loss.

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Quote from: Darker45 on October 25, 2024, 02:26:40 AM

Think twice about it. Is 25% of your weekly income an amount you can afford to lose? If you proceed with this plan and an emergency suddenly arises, would you not be forced to liquidate your Bitcoin profitable or otherwise? Is your job even stable? If you lose it, will you be able to survive for several months looking for a new one while keeping your portfolio intact?

I hope you've carefully weighed the possibilities before you decided on this. There are some who are too hot, too eager to jump into the bandwagon only to end up frustrated after waiting for months or years to make a good profit. They're mostly the ones who will sell at a loss.

Quote from: Natalim on October 25, 2024, 05:29:58 AM

That’s the essence of invest what you can afford to lose. Setting aside 25% of your income might feel high, especially if you’re not making that much. But ultimately, it’s up to each of us how much risk we’re comfortable with, if you really believe in Bitcoin, going all-in could make sense, even if it’s not typically advised.

25% of one's income sounds too high indeed, especially in these modern times when credit has become a common practice and people have become accustomed to living beyond their means.

But the decision suggested by the OP, like many others, depends on the personal financial situation. It can be a good strategy not only for those who have no debt to pay and are able to save more than that 25% every month, but also for those who are used to spend that money on consumer goods and other dispensable vices, if they manage to get through without them.

If I had to choose, I'd honestly prefer to be more minimalist and invest in Bitcoin for a (who knows) dear life, than to be a consumerist in debt with no illusions of the future.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

That’s the essence of invest what you can afford to lose. Setting aside 25% of your income might feel high, especially if you’re not making that much. But ultimately, it’s up to each of us how much risk we’re comfortable with, if you really believe in Bitcoin, going all-in could make sense, even if it’s not typically advised.

A lot of early buyers are reaping the rewards now, but what happened to HODL? It’s totally fine to sell and cash out a bit, but keeping some Bitcoin as a long-term hold could be your safety net. Think of it as an investment for the future, especially if we ever face serious inflation.

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In addition to the saying "invest only what you can afford to lose", I would add something else very important "invest in such a way that you cannot lose what you have invested in". What I want to say is that every plan, no matter how good it is, can have a bad ending if we don't understand that investing in BTC is risky not only because of volatility, but also because of the possibility of being hacked (remotely) or robbed in a physical attack.

Therefore, in the first place, ensure adequate storage, and then be smart and keep your mouth shut and do not tell anyone what you have invested in - that way you have the best chance that nothing bad will happen to you.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

These plan is good but you also need to think about other things like if there's sudden emergency situation happen so instead of separating only some amount intended for your bitcoin investment spend also some funds for emergency funds. Since this would provably save us for unwanted situation and we can assure that our investment well be protected if we know how to manage well our finances.

We should know that its not all about investment but also how to protect ourselves from any potential problems so try to think about creating good plans since this will provably determine our success in future. Bitcoin investment is no doubt one of the best we should take, but we need to acknowledge the risk to know to do counter action if we face those unwanted situations.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

It will be good to do proper planning before using the DCA method in investing in Bitcoin. You should consider if $30 will be enough for you to pay your bills and set aside emergency funds. This is important because some investors have forcefully liquidated their investments because they had an unexpected need. Also, take note that you shouldn't expect to make a fortune with a $10 weekly investment if you intend to sell it by next year. My advice is that you consider DCAing for another four years and sell it in the next bull run.

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It is difficult to start a real investment with $10 per week, so it is better to invest monthly so that you can reduce the withdrawal fees to a minimum. Investing in Bitcoin at the present time may be profitable, but if you have money that you do not need, invest it all, otherwise 10% of your income is enough, especially if your income is very low.

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Quote from: Pandorak on October 25, 2024, 01:45:43 AM

Quote from: asarfiar on October 25, 2024, 01:35:42 AM

We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

There's no doubt that bitcoin has stood the test of time in the market, even if bitcoin goes through a long bear, it will rise again sometime & even make new ATH from time to time. Allocating part of your weekly or monthly income will be a good plan to create a good financial portfolio in the future, from your post i found the value of 25% of income to be invested in bitcoin. You know, i even allocate more than half of my weekly or monthly income only for bitcoin. Because i believe bitcoin can help me in the future.

You said well, but I think if you live in a village, or where financial luxury dares you to invest more than half of your income. Suppose you live with your family in a splendid environment, the basic needs of the family are food, clothing, housing, medical and education, in that case maybe 25% investment in Bitcoin is fine, I think.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Using the past to say what will happen in future is very risky, it can be correct or inaccurate. Despite of good growth history, Bitcoin is a volatile asset and invest in Bitcoin contains somewhat risky for your capital.

Future market cycles will be different than past cycles, like less ROIs or even we can reach to cycle that a new cycle will only enough to bring Bitcoin back to all time high of a previous cycle. Or we will come to a time like a new all time high will only be made after 2 cycles, it's about future with lot of uncertainty.

Quote

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

If you can make savings from your income, rather than save it in banks, you can invest it in Bitcoin. It's good investment strategy as Dollar Cost Averaging weekly and it can help you in long run.

https://dcabtc.com/
https://costavg.com/

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

Well as long that $10 is not a burden on your part then go. The thinf about investment mindset is, only put money you dont need for your every day used. Cause theres a chance that your dca or weekly buying could on downside, market never promise gain when you do this so you should also consider the chance of losing your money not just the good part of profit.

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Think twice about it. Is 25% of your weekly income an amount you can afford to lose? If you proceed with this plan and an emergency suddenly arises, would you not be forced to liquidate your Bitcoin profitable or otherwise? Is your job even stable? If you lose it, will you be able to survive for several months looking for a new one while keeping your portfolio intact?

I hope you've carefully weighed the possibilities before you decided on this. There are some who are too hot, too eager to jump into the bandwagon only to end up frustrated after waiting for months or years to make a good profit. They're mostly the ones who will sell at a loss.

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Quote from: asarfiar on October 25, 2024, 01:35:42 AM

We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

There's no doubt that bitcoin has stood the test of time in the market, even if bitcoin goes through a long bear, it will rise again sometime & even make new ATH from time to time. Allocating part of your weekly or monthly income will be a good plan to create a good financial portfolio in the future, from your post i found the value of 25% of income to be invested in bitcoin. You know, i even allocate more than half of my weekly or monthly income only for bitcoin. Because i believe bitcoin can help me in the future.

asarfiar

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We have seen various Bitcoin market systems in the past which despite being very volatile, Bitcoin continues to move forward with its momentum. Despite the various ups and downs of the market system, Bitcoin continues to walk the cryptocurrency world in an unforgettable way day after day. Those who have invested in Bitcoin in the past are likely to get good returns as the global economy is expected to be good in 2025.

Yes you can make good profit, but if you have a portion of income per week like $40 per week you can invest $10 in bitcoins. This will reduce your financial risk which is much more bearable than months.

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