Why Not Just Buy BTC? - page 7. | Bitcointalksearch.org

electronicash

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Quote from: famososMuertos on July 02, 2023, 12:47:33 PM

Well, there is no advanced strategy in what you mention, it is simply using the mentioned pair to buy, if it is necessary to mention that part of the trading strategy is to protect the BTC in a dex wallet, since apparently it is only interested in "just buying" bitcoins today.

Trading strategies vary according to what you want in the short, medium and long term, in any case as long as your strategy is only to buy, DCA works.

i don't think he is a trader. for someone who writes just those sentences, you can already tell all he wants to do is hold.

withdrawing your coin from coinbase as well will be a good idea. you don't wanna wait for them to ask for your SS ID as part of KYC, while they still are not doing that, withdraw your coin after buying. buying just BTC and keeping it in a wallet is often the strategy of every investor.

famososMuertos

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Well, there is no advanced strategy in what you mention, it is simply using the mentioned pair to buy, if it is necessary to mention that part of the trading strategy is to protect the BTC in a dex wallet, since apparently it is only interested in "just buying" bitcoins today.

Trading strategies vary according to what you want in the short, medium and long term, in any case as long as your strategy is only to buy, DCA works.

CarnagexD

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Quote from: CupCakeHugs007 on July 02, 2023, 12:11:20 PM

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?

Yes, it is true. It is very easy to buy. But holding it until you get to the desired price to take profit is what makes it difficult. Not all people have the mental capacity to handle drawdowns and see their funds melt down to negative. They become afraid and instead of holding or buying more, they sell it. Because when you are euphoric it is very easy to buy, when you are fearful, it is very easy to sell your position. They don't have realistic timelines and expectations. They don't have a plan for when to average down on their position.

Just buying btc and holding it is not a strategy. A strategy consists of managing risk, psychology, and your position. Getting in the move is the easiest.

Nrcewker

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Quote from: CupCakeHugs007 on July 02, 2023, 12:11:20 PM

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?

This strategy has been followed by millions of people for many years. The people who believe in Bitcoins know the true value of Bitcoins. So whatever amount is possible, they just buy it and do this at frequent intervals. Then they hold the coin until the price just skyrockets, and hence they sell it for high profits. They know that Bitcoins are limited in numbers; that is, no more Bitcoins can be created or discovered; hence, a time will come when there will be a scarcity to buy the coins, and people will sell the Bitcoins at high prices.

Cantsay

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Quote from: CupCakeHugs007 on July 02, 2023, 12:11:20 PM

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?

Just as the post above mine stated, it will be best if you carry out DCA that way you won't have to bother yourself about buying at the wrong time, although it is a boring strategy and doesn't need an expert to carry it out all you need is discipline.

I will also add that you should look for a secure wallet to keep your coins once you have successfully purchased them. Wallet like Electrum should be able to do the trick is you're able to create an Air gapped Wallet, as it will give you same security as a hardware wallet since you're going for a long term investment it's very important to choose the right wallet for your holdings.
Note: never leave your coin in an exchange.

Oshosondy

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You can use Coinbase to buy, but know that you do not have privacy. If you are aware of that and you still want to use a centralized exchange that requires KYC before you can do anything on the exchange, then you can make use of it.

But for better way of buying and protecting your privacy, use Bisq. Bisq may be inconvenient and some people will prefer centralized exchanges for the convenience after getting verified. Traders too prefer to just use centralized exchanges to buy.

But if you buy bitcoin using Coinbase, send it to your noncustodial wallet. That is very important because you do not have your keys on coinbase.com, it is not even a wallet but an account.

You can use DCA to buy bitcoin. Buying now is good because all-time-high may be next year or next two years. Months after halving will favour bitcoin.

CupCakeHugs007

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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?

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