Why Not Just Buy BTC? - page 5. | Bitcointalksearch.org

Inwestour

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Quote from: Taskford on July 04, 2023, 08:21:02 AM

But the problem with that is you are limiting yourself for the opportunities available in the market. But if you can't afford to have this because you can't trust the altcoins in the market then this is fine being bitcoin maximalist can save you up from many stress that can bring up by some altcoins.
Bitcoin still has a big potential but you need to wait for maybe more longer times before you can see a great changes unto your holdings because bitcoin is meant to be a long term investment if you want to see some great results.

Not only are these possible prospects, altcoins also hold the potential danger, that instead of making money you will be worried about how the price of the altcoin continues to fall while bitcoin continues to rise. I don’t know if this seems promising to some, or maybe there are those who think that big risks will give the opportunity for bigger profits, but I don’t think so. Bitcoin is doing well, that's enough for me, I don't want to worry about altcoins.

Taskford

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Quote from: Inwestour on July 04, 2023, 03:06:28 AM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Buying bitcoin is a great idea. You don't have to worry about looking for some "promising" altcoins that may not bring anything in the end, you just buy bitcoin and wait for the bull market. I don't know about the whole market, but I'm confident in bitcoin, it will be a reliable investment that will bring profit. Now bitcoin looks good, but pay attention that it has been growing since the beginning of the year, take this into account, after such growth a correction may follow, remember this and do not deviate from your original strategy.

But the problem with that is you are limiting yourself for the opportunities available in the market. But if you can't afford to have this because you can't trust the altcoins in the market then this is fine being bitcoin maximalist can save you up from many stress that can bring up by some altcoins.
Bitcoin still has a big potential but you need to wait for maybe more longer times before you can see a great changes unto your holdings because bitcoin is meant to be a long term investment if you want to see some great results.

Inwestour

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Buying bitcoin is a great idea. You don't have to worry about looking for some "promising" altcoins that may not bring anything in the end, you just buy bitcoin and wait for the bull market. I don't know about the whole market, but I'm confident in bitcoin, it will be a reliable investment that will bring profit. Now bitcoin looks good, but pay attention that it has been growing since the beginning of the year, take this into account, after such growth a correction may follow, remember this and do not deviate from your original strategy.

Just think about storing your bitcoin not on an exchange, take care of safe storage from the very beginning, study hardware wallets. Everything ingenious is simple.

barisbilgili

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Quote from: GreatArkansas on July 04, 2023, 12:37:57 AM

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

(....)
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

This is 100% effective. Because for me, the only reason why there are a lot of people who are a fan of altcoins are because of the ROI, they tend to see some altcoins that are just making huge gains in just a day, like x2 or more than in just a short period of time while on Bitcoin, you will not see that anymore.
But on the side of that, there's a big risk involved when you are into altcoins compared on the Bitcoin.

The big risk is proportional to the possible profit you will get, if you choose Bitcoin it is indeed quite promising in the future but with small capital we will not be able to get big profits.
If you have enough capital, then buying Bitcoin is great but if you don't have a lot of capital, I think taking big risks on altcoins is not a bad choice.

GreatArkansas

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

(....)
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

This is 100% effective. Because for me, the only reason why there are a lot of people who are a fan of altcoins are because of the ROI, they tend to see some altcoins that are just making huge gains in just a day, like x2 or more than in just a short period of time while on Bitcoin, you will not see that anymore.
But on the side of that, there's a big risk involved when you are into altcoins compared on the Bitcoin.

macson

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

the strategy that you are using is a long-term investment, have you set at what price you will immediately sell the bitcoin that you hold, this is very important so that you really make a profit ^{(not just buy, then leave it in your wallet in a long time)}

but if you plan to become a long-term trader, you must also determine at what price you will stop-loss and at what price you will take-profit. find a strategy that makes you comfortable, and don't be easily motivated by other traders even though the strategy doesn't match your habits.

SOKO-DEKE

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.

Yes, this is what a lot of people are expecting to happen next year as a result of the halving events that have been happening every four years. So, based on Bitcoin's history to far, a bull run is currently anticipated following the halves phase.

Quote

The platform I use is Coinbase.

Coinbase is a good exchange to buy bitcoins, but you should never leave your Bitcoin there once you've done so. Instead, move them to a personal wallet to ensure that they are properly secured.Just be aware that if you leave your coins in a centralized exchange's care, you are not the only one in charge of It,so If you want to be in complete control of your money, you should use a decentralized exchange.

Quote

I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

The best way to make a profit from a Bitcoin investment is to purchase it while the price is still low and sell when the high.so if I may add, this is also the right time to buy in aim of good profit target. However, since no one can accurately predict what will happen to the price of Bitcoin in the few months before halving, I may say the best strategy to use is dollar cost average (DCA), which refers to a gradual process of accumulation.

irhact

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Many investors believe since altcoins has lesser price value than Bitcoin that it'll be better to buy altcoins and make money profits than buying Bitcoin. But they fail to make their research as if they have research properly they'll find out that although altcoins gives more profits but they don't last in the market. Ignore all the altcoins topping coinmarketcap, excluding stablecoin many of them won't be in those positions after next bull market.

Only Bitcoin can be in the list and maybe Ethereum as well but the rest has a high possibility of not making the list and that's because they'll stop getting hyped and investors will move on to the newest thing also some might collapse as other altcoins has done so in the past.

Mame89

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

The most appropriate strategy to buy Bitcoin is to use DCA, Which you say is not wrong, in fact more than a dozen websites believe bitcoin will skyrocket in the coming year. Advice for those of you who do buy bitcoin for the long term, it would be wise not to save bitcoin on an exchange later for fear of unwanted things happening like Coinbase, Binance and others. because if you do not fully control the exchange. it's better to save in a soft wallet that uses the key phrase, even better in a hard wallet.

Apart from that, you need to avoid if you want to hold bitcoin in the medium term, when bitcoin is profitable but not sold and hopes to go up but bitcoin keeps falling so profits are lost. Here it is important to stay away from greed, learn to be grateful for the advantages that already exist.

Plaguedeath

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Because many people are still greedy and hope they will earn high short term profit using shitcoins.

Well if you don't mind with KYC, you could use Coinbase to buy and sell your coins, but sometime this exchange is suck and stricter than other exchanges.

You must hold your coins on a cold storage since you're looking for long term investment, you can use Trezor or Bitbox, those are good hardware wallets. Holding your coins in a centralized exchange is a worst decision.

bitzizzix

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

To invest in bitcoin, the method is very easy, even easier than investing in other assets. It is not only easy but also safe to store your purchased bitcoins in a private wallet where only you know the private key, and don't leave your bitcoins on exchanges as it is dangerous.
how to buy bitcoin at a low price and hold it for the long term is the best choice and also very profitable, and also your DCA strategy is to only make purchases periodically or at the time you have set and the goal is the same for the long term. And that second way is the best way as long as you do it for bitcoin in the long term and it will definitely give you very good returns, as long as you have to be patient and believe that the bitcoin price will skyrocket.

abel1337

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

That's true. In fact, I believe that majority of the forum members here believes that bitcoin sill skyrocket in the upcomming years. Even me, I believe that bitcoin will bloom into a value that we have never seen before. Though people do trading and investing into other tokens because the possible profit they can get from those is much larger if they buy and hold bitcoin until the bull market. People are trying to utilize their funds in order to grow it and make big profits from it. You can still make profit on bitcoin but investing on altcoins can possibly make your profit tenfolds. Although, the risk is much higher compared in holding bitcoin.

MFahad

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This strategy is very successful and I think everyone will prefer this strategy. You should know and identify the timing of holding because timing for holding matters a lot.

Try to save your bitcoin in your wallet and make sure that it is secure. Bitcoin will soon rise and will enhance in price but some people buy bitcoin and never wait properly for the accurate timing so patience is also require for benefit just buying is not necessary.

Buying bitcoin this time is profitable so when next year halving occur you will take your profit easily but if unfortunately it does not occur then you have to wait more for some years as getting profit needs years.

waONE

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Quote from: lovesmayfamilis on July 03, 2023, 08:36:52 AM

Buying is the surest move a newbie can make. But in order to buy, you also need knowledge, namely, in which wallet you will store your bitcoins, whether you know how to properly store your seed phrase, and whether you have the necessary patience not to sell at the moment when the market will fall.
However, for beginners, there is a great opportunity to learn and, at the same time, get practice by regularly investing some funds in Bitcoins. Don't be fooled by stories of quick profits from altcoins; after gaining some experience, you will see that only Bitcoins can be trusted.

These things are certainly part of knowledge which is usually not noticed,
it's also important to know about it,
what is clear is that beginners have a lot to learn and it is better to focus on that than chasing profits.

michellee

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The right strategy is to use the DCA strategy to prepare to have a lot of Bitcoin. This strategy has been done by many people, especially those who don't have a lot of money or can't buy large amounts of Bitcoin at once.

We here also always recommend using DCA for people or investors who want to join Bitcoin, which has been going on for a long time. But not many can really succeed in getting big profits because after owning Bitcoin, they must have strong hands to hold it until its price goes up.

And you can buy Bitcoins, leave them as you like, and not bother watching the market. This will make it easier for you to hold Bitcoin because you won't see the price go up and down and buy according to the schedule you make.

lovesmayfamilis

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Buying is the surest move a newbie can make. But in order to buy, you also need knowledge, namely, in which wallet you will store your bitcoins, whether you know how to properly store your seed phrase, and whether you have the necessary patience not to sell at the moment when the market will fall.
However, for beginners, there is a great opportunity to learn and, at the same time, get practice by regularly investing some funds in Bitcoins. Don't be fooled by stories of quick profits from altcoins; after gaining some experience, you will see that only Bitcoins can be trusted.

Merit.s

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As a newbie who wants to invest,you should only use coinbase to buy your btc and transfer it into your noncustodial wallet. Before buying your bitcoin make sure that you have created your noncustodial wallet. Don't leave your coins in coinbase because it is not safe. You can download an electrum wallet and use that for a start as a newbie because it is easy to understand. Holding for long is the best strategy that will enable you have a good profit if you can. We are still expecting to see bitcoin price pump higher because they halving is close at hand.

Mpamaegbu

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.

But of course, those sites making FOMO of Bitcoin; no doubt, would be making such declaration having looked at or followed Bitcoin precedence for years. It's true and everyone who's into Bitcoin will tell you that the market is expectant of a bull rally in a few months to come.

Quote

Any thoughts on this strategy?

Buy all you want to now that price is fairly cheap but don't leave it on Coinbase. Move whatever you've bought to a private wallet, except you're buying to trade. If you're buying to hodl, move it out once you buy. Centralized exchanges aren't a good place to store coins because you don't have the private key to your coin if you leave it on an exchange.

Lucius

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.

I know it's not easy not to fall under the influence of all the so-called experts and their clickbait titles, but don't let them shape your opinion on what and when to invest in. Until you understand what you are actually investing in and how to properly secure your investment, you come out with an increased risk of making some kind of mistake that can cost you dearly.

Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

In general, the strategy of keeping BTC on exchange is not desirable, especially if you are going to keep them for a long time - so although this company has been on the market for a long time and has a certain reputation, it might be a good idea to check what happened in the past with Mt.Gox, Quadriga or FTX.

However, it should be emphasized that even when you transfer your BTC to a non-custodial wallet, you can't consider that you can relax and be sure that nothing bad can happen. Any person who is not aware of the dangers and risks can become a victim of clipboard malware, fake wallet updates or sophisticated phishing, along with countless other dangers that are found online.

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Quote from: CupCakeHugs007 on July 02, 2023, 11:11:20 AM

I've seen over one dozen websites believing that BTC will skyrocket in the upcoming years.
The platform I use is Coinbase.
I'm thinking of just buying BTC-USD and just leaving it be.
Any thoughts on this strategy?

Buying BTC-USD using the dollar cost averaging method is still very relevant to do, but don't let BTC be stored on the buying and selling platform.
Whatever platform you are going to use to buy Bitcoins and choose to just leave it on the buying and selling platform without moving it to a trusted wallet, then that is not a positive strategy but a strategy of handing over the safe keys to robbers to take your money.

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