Bitcoin Forum

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

If you are ok with using a centralised exchange, like Binance, Kraken etc, they all support automatic buys and withdrawals, so you can set an order to be executed monthly.
It will, essentially, automatically buy BTC (spending a specific amount in your fiat currency) and then automatically withdraw the BTC at a specific address that you want.
The latter can be used with a threshold as well, meaning that you can say "if it reaches 0.01 btc, then withdraw, else keep accumulating".
As far as the extra payments at the dips are concerned, you can do them manually very easily.

If you are not ok with centralised exchanges, things are more complicated, but more private. You gain privacy, but you lose convenience.

Never forget one thing: Reminder: do not keep your money in online accounts (https://bitcointalk.org/index.php?topic=5421039.new#new)

Your post means you are going to do your investment with Dollar Cost Averaging aka. DCA strategy, and the DCA frequency is weekly.

Another bold part in your post likely does not express your opinion correctly, as buying dips is taking risk but at the same time believing that it can help you improve your finance, enrich your money, not protect it.

"Don't invest what you afford to lose" is a famous saying about risk and risk management in any investment. Bitcoin investment is risky but it's worth to do because chance of getting good profit is high if Bitcoin history repeats itself in future years and future market cycles.

Two example guides from Binance and OKX.

• How to Grow Your Crypto Portfolio: A Guide to Binance's Recurring Buy (https://www.binance.com/en/blog/fiat/how-to-grow-your-crypto-portfolio-a-guide-to-binances-recurring-buy-421499824684903346)
• How do I set up a recurring buy plan? (https://www.okx.com/help/how-do-i-set-up-a-recurring-buy-plan)

You should first of all check your income and make total expenses of your monthly needs and expenses, take it out from your income, if there's extra, that's the money that you should use to invest in bitcoin. Don't use money for your important needs to invest but only with your extra cash.

After that, it's good that you set up an account with any reputable exchange in your country, where you can buy bitcoin with whatever method that is suitable to you, but I prefer using p2p method. Try your best to always use part of that your extra cash to invest in bitcoin whenever you receive your income overtime. If possible have a bitcoin accumulation target.

As your DCA is ongoing, it's good that you use some part of your extra cash, which means it will be nice that you share your extra cash into two part and use one to keep your DCA ongoing, while the other part to start building up an emergency funds of at least three months of your monthly income. When investing in bitcoin for long term, you need an emergency funds to be a back up to your bitcoin investment, so that when some unforeseen circumstances play around that you didn't expect, you can use your emergency funds take care of a real emergency.

Lastly, after setting up an emergency funds, you still need to set up a reserve funds by channeling the money that yiu were using to build your emergency funds initially, into building your reserve funds after that, you can DCA aggressively based on your discretionary income. Your reserve funds is what you can use to buy bitcoin when there's a dip but you don't have to stop your weekly /monthly ongoing DCA.

DCA is the answer and I believe others would have done justice to what DCA is  all about and then when you noticed the market has gotten a correction that you want to take advantage of then you can add to your bag by buying more. You can do your DCA in both ways and that's buying after receiving your paycheck and also when the market has a correction. Since you're not in a rush to invest that means this strategy of investing is going to work perfectly for you. Just examine your finances to know how much you can risk comfortably and not getting into financial crisis. The investment should be for both your monthly DCA and also the correction DCA that'll come occasionally and must not be on a month basis.

I have some suggestions here for you to start with.

DCA Bitcoin
https://dcabtc.com/

The use of this method or strategy to say is very important for long term investors, whereby you buy upon every dip in which the market go through and you keep on holding, i also want you to read through the use of this investment strategy before starting, i will in addition recommend the speculation thread for you to read up on what other members are discussing there in other to learn more.

Speculation thread
https://bitcointalk.org/index.php?board=57.0

Buy the DIP, and HODL!
https://bitcointalk.org/index.php?topic=5132720.0

Who are asking how you will DCA. It is simple and you understand the theory. But I am little more concerned that you mentioned weekly and also emphasized that you will buy when prices dip in order to grab extra and protect your money. Dollar Cost Averaging method of investment doesn't work that way. If you are to buy only when there is dip, it means you have to closely monitor the market everytime and you will not be able to automate your investment. This is not how DCA work. In DCA you buy consistently when the price dips, bulls or is consolidating. Consistency is the key to achieving success in DCA.

Also, I will advise that you set an amount you are able to invest weekly. Don't set too high amount that will make you to start skipping weeks. Set a realistic amount based on your income. Thanks.

When someone new wants to enter the investment, my first advice to him is to have a long-term attitude towards investment and hold the investment for a long time. I especially advise a new investor to invest in the DCA strategy.

Read about the DCA strategy: Dollar Cost Averaging Bitcoin (https://dcabtc.com/)

Even in addition to investing in the DCA strategy, you need to be more educated about investment and to increase your knowledge, you need to take more ideas about investment.

Read about Bitcoin investment ideas: JJG's Bitcoin Investment Ideas (Sustainable Withdrawal / Portfolio (https://bitcointalk.org/index.php?topic=5475347.0)

Even in order to survive in the long term in investment, you should have a deep knowledge of investment management and risk management. Even you should be aware of the real problems of investment.

Read about investment management:  Buy the DIP, and HODL! (https://bitcointalk.org/index.php?topic=5132720.0)
                                                       Buy Buy Buy or Sell Sell Sell? (https://bitcointalk.org/index.php?topic=5487753.0)

Threads have been shared only you can give yourself the best of what you want, access the thread try to understand all it is inside, anywhere you find less comprehensible, use your search options, and if you don't get a clear understanding, you can talk about it in the forum.

First thing you consider your channel of income, will it keep flowing continuously as you don't want to miss out since you prefer to DCA and purchase dips at the same time, you need enough cash to DCA and still get a good amount to capture dips, dips won't happen that often so you take the big opportunity as soon you face it.

If you are indeed someone who is new to investing, maybe you are not familiar with the term DCA or Dollar Cost Averaging, try to learn how to do DCA. I think this method can be used to be able to take additional money when the price drops, and protect your finances, in my opinion this method can really grow or increase your profits for the long term when investing, especially in Bitcoin.

Maybe you can start DCA with funds that you can allocate for investing, do it like 1 time a week, or maybe 1 time a month consistently, so that if there is market volatility, your finances will not be affected too much compared to you putting the money that you want to be invested massively.

For reference, try reading and studying here: Kraken - How to DCA crypto (https://www.kraken.com/learn/finance/dollar-cost-averaging)

It's good to see you are interested in investing in Bitcoin. Before jumping into investing, you should learn a lot about Bitcoin. Since you joined the forum, you are in the right place. You can take lessons from this forum; just use the search button when you need to know anything. Otherwise, you can raise a thread if you aren't satisfied with the search result.

Simply search for what is the DCA strategy on the web, and start accumulating in the DCA strategy. I will advise to buy a hardware wallet that is open source, like Trezor. Otherwise at least use a non-custodial wallet to store your funds instead of trusting a centralised wallet or exchange. So less chance of losing your funds.

I recommend evaluating yourself first before taking up the investment. Look into some factors like how much do you have as discretionary income, look into your expensive and so many others as everyone has different problems and issues to fix so you have to fix your personal issues and also prepare your mind for the volatile nature of bitcoin to be on the safer side and also consider the amount you're investing to be one that you can do with out and hence you can cope with the bitcoin investment this are my first steps to balance my investments.

Nowadays, crypto exchanges have trading bots. One feature they have is spot DCA, where you can set the percentage when it triggers to buy, but doing this, you need a stable coin like USDT.
Binance exchange also has recurring buy, where you can automate a buy with your local currency. The only problem with these features is that, including spot DCA, you can not buy on the dip, but it will help you buy at a cheap if the percentage you set is triggered.

For me, don't do this in an automated if you want to hunt the dip do it manually with a bit of technical analysis, buy only when the price hits the demand zone combining it with DCA is profitable because you are buying always in the cheap price, or you can use an RSI and stochastic for oversold area 1hr time frame enough in my case to DCA everytime the price hit oversold area.
Because, without the help of indicators or a bit of analysis, you might end up buying BTC an expensive price. Not good if you do it in the long term, you can gain much better if you follow those indicators or analysis to buy BTC at a cheaper price.

A more useful website for DCA calculation because it has exchange fee % and % profit/ loss of each DCA investment that can help you to have more detailed plan for your DCA as well as better figures for your investment portfolio with DCA by knowing results of separated DCA investments. Generally DCA is meaningful for your whole portfolio so if one DCA investment round has % loss, it is not too important for your whole portfolio.

Dollar Cost Averaging with costavg.com include exchange fee. (https://bitcointalk.org/index.php?topic=5471532.0)
https://costavg.com/

Since you didn't care about your privacy then i wouldn't mind telling you to locate that trading platform (exchange) that are more friendly with your country to avoid being delayed. But with what you said there are possibility to regularly refill your bags when the market is dip, but storing your bitcoin in a personal wallets this requires you to keep moving your funds from place to place that is the value of the bitcoin is reducing due to constant moving in/out.

Most exchanges now already have this ability called DCA bot, where you can set your preference like how frequently you buy, how much worth in $ you want to buy, and until when you want this bot or automation to buy for you in the background, without worrying about forgetting it.

Well its always up to your budget mate. Buying bitcoin weekly is good as long as you have some funds or extra to support your investment. Using extra money is always the best to take. Dont use money that you need or use on your daily life. Its a risky volatile asset that needs caution too. Even many users trust bitcoin, still you need to be so careful on it.

That only you will know because we don't know how much your salary and expenses in a month. You need to calculate all things between your salary and expenses so you will know how much money left and that is free to use for anything. You can use that some of free money amount to invest in Bitcoin using DCA method while you still have more money that is free for anything.

You can grab the free money for anything that is left to buy more when the prices dip. You can determine how much money you will use to buy additional Bitcoin that the prices dip.

You are right that those automatic tools that buy when price goes down by certain amount or that buy crypto for you regularly with your local money are easy to use if you want to buy crypto over time without doing it yourself. But like you said they are not very good at buying specifically when price has dropped suddenly. While they might buy at lower price sometimes they do not make sure you are buying when price is really low and might go back up soon.
Idea of buying manually by looking at charts to find good times to buy makes much sense if you want to try and buy at best times. If you combine this with DCA it will make more money in long run.

When you call yourself as investor or more impressively like long term investor and you are a fan of DCA strategy and you are applying it for your investment, I am pretty sure that you don't expect quick profit.

So if price dips, you buy either manually or automatically, you never expect price will bounce back quickly and strongly for short term profit. As a long term investor and a DCA applicant, your mindset will be wide and very long term.

If you want to buy dips but wait for quick profit, you are more similar to speculators and traders.

It looks like you already have a paying job? Because this should be the most important thing here before you start learning how to buy Bitcoin, this is the only way that things will be easier for you.

I am a bit lost where you said to protect your money, at first I thought this is about you keeping your Bitcoin in a safer Bitcoin wallet but I think this is not the case, it sound like you are trying to protect your fund from the dips.

You don't need to worry about price deep, because you plan to invest every week, price won't be the same every week, sometimes it will be higher and some times it will be lower.

thanks everyone who posted message here, i already got my answer :)

The amount you earn, will depends on the amount you will set aside to be investing in Bitcoin for long term. Is it weekly or monthly, your income will say to that on how your investment in Bitcoin will be. But remember, invest with what you can afford to lose through a DCA means. You will be fine at profits, if you set your target well. That is, you buy at low price and sell at high price.

Lock your post thread then, to avoid further advice.

I will suggest the DCA method, the most workable strategy for beginners. Not only beginners, but many experienced investors also use it for better profits. The strategy is more beneficial because you will be free from emotions, and you can invest money every week regardless of price action, making your journey go smoothly. If you can do one more thing additionally, keep some extra funds with yourself so whenever you see a dip in the price, you can buy more than you usually would with the DCA method. This is called DCA PLUS DIP. When the price is low, add some additional funds, but remember to use money that you won't need for 5 or more years, because this is a long term process. Initially, target BTC and Ethereum coins because they are less risky, and when you gain experience, you can explore other coins.

Increase your source of income so that aside that you can put a good amount on bitcoin regularly, you can also make extra earnings that you can use whenever you want to maximize your purchase in times of btc dips. This is not just time management, but money management as well. After all, all your hard work and efforts these days will paid off in the long run, that is if you have the patience to hold your investment and only sell it when there are visible impressive profits.

Yes, I think increase source of income also another solution to secure finances when investing in Bitcoin, so for example if Bitcoin experiences a decrease in value, you don't need to sell some of your assets for any purpose, in fact you can allocate it to invest in Bitcoin, and do compounding, so you can focus on doing DCA consistently and without any obstacles. So that in the long term you can enjoy the results of the hard work you have done so far, we know that the process will not betray the results.

The only way I think you will enjoy investing regularly in bitcoin is by using the DCA method of investing in bitcoin. People who set some certain amount to invest in bitcoin, whether weekly or monthly, regardless of the time you set for yourself, use DCA to invest in bitcoin since it's the easiest way to do that also the easiest way for beginners who are new to bitcoin investment, and also it will be easy for you to know how the market works for you. When you are at a loss, you will know easily, and when you are in profit, you will know easily as well.

Know your financial status first and set an amount that you can afford to lose. While DCA can be a great start, but the more stable your income is, then there is more guarantee that you can buy bitcoin at a regular basis.

However, if you think your income right now might not be enough, add more side hustles to gain more income. That way, you will have bigger opportunity to increase your bitcoin portfolio as time goes by.

There is such a thing as a DCA strategy. This strategy can be a solution to the money you have with regular purchase targets without having to worry.
As long as you are not forced to invest, I think using the DCA strategy is best.
If I may suggest, first fulfill your needs and cold money that is not touched or earmarked for investment, that's all you use so that it doesn't become a burden.

DCA is your answer. Or in plain text, Dollar Cost Average.
Set aside amount of money you can each week/month and then purchase on a regular basis. Some exchanges offer this as a free service, you link your card and each X amount of days, it will buy at the lowest price.
Or if you don't like automation, load an exchange with funds, and set up buy orders at the price you feel comfortable, and just wait

That means you need adequate learning of market analysis before you start trading or investing in cryptocurrency.
Centralized exchanges are the best place to have such price movement plans. In your investment strategy, you need exchanges like Binance and so on that are very good and reputable to place such investments. All you need is a stablecoin like USDT or USDC in your exchange wallet, select the coin you want to buy, and place several orders at different prices of your choice. If these prices are achieved, your orders will be filled successfully without you coming online to monitor the price or even buy the coin at that moment.

Furthermore, you can be using the DCA method to buy maybe monthly or weekly, or you can choose some time frame to buy your coin; you can as well be monitoring the market so that you can buy when the price goes down in order to cover for some losses that might have occurred as the market is going down.

And DCA is one of the best and common ways to make investment very easy for you to be part of something great, and most people even go to the extent of what DCA can do, so there is a need for understanding, and beginners need to have knowledge of this this thing before they even start because you need to be ready to learn so that you will be able to showcase whatever ever you have learnt because you have to even know what DCA and how it works, and when you invest weekly, you are more advantage because since you can not afford to buy at once, then you can buy gradually till your goal is met especially when the market is red, then you can also take advantage of the market to buy more because there wont be enough reasons if you miss opportunities like this and experience is the best tearcher.

Since you're considering buying at every dip on a weekly basis, then DCA is the best strategy for investors in this category like you, it also helps make investment more suitable to do without having any uncomfortable approach investing, this also ensures that the market is best placed as to increase the chances for making more profits while reducing the risk at investing on loss, because you buy on the dip the more and hold as the market pumps you earn more.

This kind of strategy is we called DCA which you make an investment with the bitcoin through out if you have a budget now this could be profitable?, could be yes and no depends on how you will look it, no because possible the market might get crash and no one are happy on that seeing their investment value getting down, now that's the frustration comes in but on the other hand if you are seeing your investment for a long term you didn't care at all with the current price and you are looking forward for the long term investment yes this kind of strategy can be worth it if the bitcoin makes another price pump from the previous trends. Also I consider as a pre-requisite to understand how does the market move like learning basic trading and technical analysis so you wont get loss with your investment journey.

Before doing anything, we should know that there is merit and demerit for that thing, same applies to bitcoin investment, if someone talking to us that there is no risk, them its all a complete lie, but when we know much about the bitcoin network, know about scam, security, wallets and how to safely invest, then we may not find it difficult to cope in the use of bitcoin, learning bitcoin is a principal thing which everyone must know and understand the reason why they must comply first on this before investment decision on bitcoin, if we don't want to afford making mistakes causing loss.

Investment in Bitcoin is not complex, what you need is knowledge of it's circles and how to protect your wallet, then you buy and hold for the long term. As a salary earner the best method of accumulating is DCA strategy, ofcourse you have heard it from experienced members in the forum, it keeps you focused on your goal of stashing enough Bitcoin into the future. So far you are on steady income it is not necessary to wait till dip before you buy, something can else can take the money before then. Buy when you have the fund and from from your salary, Bitcoin price will always reach ATH and the value of your coins will always yeild profit for you.

OP should also know the good amount to allocate in buying Bitcoin every week. he should also have savings as a backup money besides allocating for Bitcoin investment. The goal is simple so that the investment made is not affected when he has emergency needs that require larger funds.
If the amount owned every week is not good enough to make a purchase, it would be better to collect it first. It can be every two weeks or maybe every month. If done routinely, the development is also good.
Do not force the increase in investment assets owned while finances become chaotic.

Do it with DCA. It will reduce the pressure compared to putting your funds all at once. And also, understand your investment risk so you won’t get bothered with price volatility and price crash, bitcoin is certainly like that. As long as you know what investment you are entering, and you chose to invest regularly through DCA, the long term outcome will be worth the wait when it start to paid off.

This type of investment is called DCA (Dollar-Cost Averaging), according to which you will buy BTC weekly for a certain amount. To do this, you will need a steady income that you can allocate to purchases that should not run out in a few weeks because you have run out of money.

Take your chance in the market each time it presents it discounted price regions, as a newbie to investment you need to make sure you k ly buy cheap and and sell high to be able to remain at a level where your young growing bitcoin investment, it a journey that requires an approach which is called

DCA approach, this way you put aside some amount to regularly purchase bitcoin.

Then he needs an income every week in order to be able to allocate every week at least $10... even if it's once a month it doesn't matter if doing it every week is too hard, because some people feel that only every month they receive their salary then they can set it aside.
While there is still an additional job that earns money every week then do DCA every week then the portfolio will grow big.

That is dollar average cost (DCA) strategy you are planning to use in your investment by buying bitcoin weekly and hold for long term,  it will create potential opportunity for you to achieve a lot of income from your investment, I think you have the knowledge of this strategy you want to apply in your investment because you have to hold your coins in a safe wallet to enable you to achieve your goal from the long term.

You're wrong. The strategy where purchases are made at every drop in the market is called BAD (Buy the Dip) and its difference from DCA is that with DCA purchases are made regularly for the same amount regardless of the current price.

DCA is best suited for anyone who is new to Bitcoin and don't want to take any risk. Those who are new to Bitcoin must spend some time in understanding what DCA is and what's the advantage of accumulating Bitcoin through DCA methodology. We have historic data of Bitcoin available and we can easily see through different tools what profit Bitcoin has given if we accumulate Bitcoin using DCA for a specific duration. The results are amazing even if you invest 10$ per week but for longer duration like 5 years or more. Not only new commers but most experienced Bitcoin investors also prefer DCA over other techniques.

As far as you are planning to buy weekly, that is the DCA method of accumulating Bitcoin. The DCA method, whether buying weekly or monthly, helps investors acquire Bitcoin at different price levels, as Bitcoin is volatile by nature. With DCA, you can limit your risk in Bitcoin. For example, when Bitcoin’s price is dropping, you won’t lose as much because you are buying at different price ranges compared to those who bought Bitcoin all at once.Even for a newbie, the best method to accumulate Bitcoin is using the DCA method. However, you should also be prepared to hold onto your Bitcoin for a long period of time, as that is the only way to profit from Bitcoin.

Additionally, my advice to you is to only invest what you can afford to lose. Also, try to maintain a separate emergency account so that you won’t be tempted to sell your Bitcoin when problems arise in the future. This emergency fund should be money set aside to solve unexpected issues. Without an emergency fund, if a problem arises when Bitcoin’s price is low, you might be forced to sell at a loss.

That should be the main highlight when a newbie asks about BTC investing. They should invest only the amount they can afford to lose. And if they have already bought it, I agree to what you've said that they also need to prepare cash for themselves. So, if ever some unfortunate situation, they're in need of money. They won't resort into selling those acquired Bitcoins that they have. It'll only put into waste after acquiring and then they'll sell it at that time when they need some cash because they don't have emergency funds and they don't have any other source for it to sustain or solve that problem.

DCA is the Best answer to your question. Before investing in Bitcoin you must check your level of income if it can withstand your day to day expenses. To start Bitcoin investment is fine but how consistent you are will determine how far you can go.  If you have a steady source of income and a good discretion fund then you are capable to invest. All you just have to do is to make sure that any time you receive money, you will have to set aside some amount for family usage, set aside for Bitcoin investment and also for emergency. Don't invest aggressively in a way that it will affect you by selling your Bitcoin without meeting up your time frame of investment.

Invest weekly or monthly with the amount you can afford to lose through DCA.

Supposed to be this is the first thing to consider on earliest part of their earliest part of exploring on Bitcoin since for sure that they experience lots of challenges that might cost them something especially that they are prone to commit a mistake in that situation.

They should not forget that they also need to learn more about Bitcoin so that they would understand more about it and redirected to the best investment option that they could choose especially for picking going long term with Bitcoin. They won't succeed if their knowledge is limited that's why they need to  learn good information about it and with that I think they are good to start if they already gained good experience dealing with their Bitcoin investment. For me DCA is always the best strategy to used and best to HODL Bitcoin since this would give more decent result to investors.

You should answer the question yourself, the amount you are early will determine the amount you will be using to invest and other things, but before you start thinking of the money that you will be using to grab some bitcoin whenever their is a dip in the market, then first make sure you having a emergency funds.

If you are investing in bitcoin, then the best strategy is to use DCA strategy, and if you are making use of DCA strategy, I don’t think you need to have any money which you will be using whenever their is a dip in the market the strategy which you are using will cover up for that, what you should be fighting for is emergency funds, because if you don’t have emergency funds, then you won’t be able to hold your bitcoin for a long period of time. If their is any emergency and you don’t have emergency funds to solve the problem, then you will end up selling your bitcoin that you are planning to sold just to solve the problem you having.

Emergency funds left aside (we all should have at least a minimum extra money that allows us to live for some time without income), and warning the OP that it is really difficult to time the market, if not simply gambling, perhaps instead of allocating all that extra money he's willing to invest to DCA, he could consider saving a part, at least when he feels that he's buying the top, and invest it when he thinks he's witnessing a dip. But this shouldn't be seen as financial advice, because what you think could be the top can become a new support, and what you think that is the dip could become a new resistance. I'm afraid that there is no foolproof method to this.

I guess this applies to all of us here, regardless of our position. The very basic rule, invest what you can afford to lose. Set a budget intended for your investment, and stick to it. That way, you can apply DCA then and accumulate bitcoin regardless of its current price. However, if you want to maximize your purchase in every dips, I suggest increase your source of income by creating another side hustle so that you can accumulate a bigger amount of bitcoin portfolio then.

Having known that bitcoin is still in the beta software, which was one of the reasons it was advised to invest only what you are able to lose coupled with volatility.
With the present mass adoption of bitcoin, the capitalization and the price, is it still okay to advise people to invest only what they are able to lose.
Is bitcoin still that risky?
I believe someone understands me...

Or if that schedule cannot be done, it's best to invest on any period of the day where they're free to use that money for investing. DCA is the key for most that are into this kind of situation. We can be investors at any moment we wish to if we've got some money ready. Don't wait too long because if the dip don't arrive, everyone who's waiting for so long are going to buy at that increased price. And any money invested to Bitcoin, think of that as money that they can no longer use for a very long time, only if they know how to accept that mindset.

Many new investors only invest because they've seen the others do it and when it's already on them, they think that it's enough not knowing more about Bitcoin. But that should be the first rule of investing, know what you're investing.

Investments in BTC is openly for everybody both the newbie’s and the and that has been a experts about it for a long periods of time, but why a lot of people’s mostly tag on a newbie’s when they see them putting their interest in the invest in BTC is that not every of them can has the attitude to invest in the cryptocurrency.

But I think the best and simplest way for a anyone who has interest to invest in the BTC is by using the DCA method, because I can said that this DCA is the one of the best key that save most of the people who find themselves in this kind of the situation; and that’s why a lot of the members here always people to invest with the amount of money that they can afford to lose.

Good you find this forum, and also good that you're looking into investment that will last for years unlike some newbie Investor who only care about the immediate profit they will make. I always advice getting a good understanding of the basics of Bitcoin and how it works beforec diving into it investment or to go about your crypto journey.

However, you don't need to wait to buy on the dips, start with a DCA strategy and ride it with time.

This method has been used for a little less than 100 years and is used not only by ordinary investors, but also by institutional investors. Thanks to DCA, investors not only get a good average asset value, but also do not affect the price if large players such as Strategy make large purchases.

The first thing that you have to do is to secure a consistent flow of income (e.g. regular working employee, etc.). From that reckoning point, you should at least designate 5-15% of your total income for your investments. Generally, it is recommended that you diversify your portfolio by investing into multiple platforms and instruments (e.g. real estate, stocks, precious metals, crypto, etc.).

Once you have established a solid framework for your investments, you should be able to devise a plan on how you would treat them. Let's take cryptocurrency as an example- generally, most people choose to HODL and invest for long-term in order to fully maximize halvings that happen once every four (4) years. If you plan on taking the other route, then going short-term may be risky (e.g. day trading).

You are right, both small investors and institutional investors alike use this method to increase their holdings on a regular basis and their buying target regularly. Investors portfolios can show nice price declines at the end of the cycle. Continuing to accumulate Bitcoin in a regular DCA strategy and increasing the cycle will result in more average prices going down. Despite the vast differences between the holding strategies of institutional holders and those of small investors like us, the DCA method has become a popular accumulation strategy and every investors accepted it as well their own way.

You do not need to stress yourself about balancing your investment. Just have a specific amount you will be injecting into your wallet weekly. Be consistent with it and pay less attention to the price fluctuations. Whether the price of Bitcoin increases or decreases, maintain the same amount consistently. That is what DCA is all about; investing consistently while ignoring what the price of Bitcoin might be at the moment. This is the method I follow, and I highly recommend it. However, if you wish to increase or decrease the amount as the price of Bitcoin fluctuates, it's still up to you.

If you are new to investing in bitcoin,  your best approach us to use the DCA method us very simple and reliable method and it also help you discipline yourself not to act irrationally.  But you must think long term of holding such as 5 years and above and storing the coins in a self custodian wallet which you control the private keysit entirely.

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Of course, it's an easy and simple method to stash up your bitcoin portfolio overtime provided that you are consistent and persistent with your DCA buying. It just like when ww were smal, we had a saving box that whenever anyone maybe, friends, family, visitors and relatives gives us money as a gift we put it into the saving box. Gradually, you see the money piling up and after three years when we believe that there's enough money in the box, we break it open. Honestly, we are always surprised at the huge amount of money we do see.

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

It is one thing to endure tough time, and it's another to endure or overlook emergency or critical situations. When such situations occur and there are no reserved funds or money set aside to tackle them, the only option would be to dip into your investment in order to sort out that situation. Not all hard times could be ensured, let's say for example, a man with family, if he fails to put the needs of his family before his investment, it'll become a problem because he's no longer the only one involved, it might be easier for him to endure those difficult situations by himself, but it hits differently when there are family involved.

If it is gambling, then it would be right to say that one must put only what he can afford to lose but for investing, especially in credible assets like Bitcoin, it is not correct to say one should invest what they can afford to lose. That statement suggesting that Bitcoin have so much risk involved which is not true. If you buy Bitcoin and hold, you will definitely make profits if you are willing and able to hold on to it for a couple of years. This, to me, is not risky as I don't see it leading to loss of money.

I don't quite agree with you mate. Yes, inasmuch as Bitcoin is substantial and credible as you put it, it still doesn't elude the fact that it carries its own risks too, regardless of the the amount of assurance and surety an asset (even Bitcoin) offers, there are still risks of losses and there are no 100% guarantees that you'll get back your funds.

I understand what you're trying to say here but the best way to approach any kind of investment, regardless of the amount of assurance it offers is to invest with your disposal income, in other words, funds or money you have absolutely no plans for, and this isn't only because Bitcoin isn't reliable, but because it'll help you more to remove your attention or focus on your bitcoin portfolio because you initially had no plans for that money in the first place.

You are right there, buying bitcoin isn’t really a must that you will do it every week, even once a month is fine as long as you do it on a regular basis. The key here is consistency, and as long as you are spending on the amount that won’t compromise your own allowance for survival, that will be very fine. And if you can add another source of income that will increase your budget for bitcoin accumulation, then the outcome in the future will be very great.

Op firstly I want to congratulate you for taking the bold step to investing in bitcoin, then my advice start from you securing a steady paying job to sustain your accumulation journey. One of the mistakes most newbies make is investing with the last bankroll they have and expect the market to go bullish under their estimated time so they can withdraw their investment and profit. Well it's possible but those who have tried it before only end up regretting not continuing their investment by getting a Job and invest from their spare cash after basic needs have been taken care of. I recommend you go for long term investment which is the best investment strategy that has been proven  profitable right from the Genesis block till date, however there is a high probability that history will repeat itself and we'll experience more ATH.

Make sure you have a consistent source of income that will make it possible for your investment to grow. And while DCA could be very helpful, but regardless if you do it weekly or monthly, the key here is that you never stop adding more bitcoin into your portfolio from time to time. That’s the secret to slowly increase your bitcoin, as long as you have a consistent flow of income.

Though I’m not into the idea of having to invest what you wouldn’t be okay loosing, I don’t really break my head over people who do this when it comes to Bitcoin. With Bitcoin, you just know your investment is relatively very safe and all you need is just some good hodling plan to go with it.

New to Bitcoin investment wouldn’t be much of an issue if you know where to buy, how to buy and how to secure your bought coins. If you don’t really know how to ensure security of them coins, then there isn’t any reason why you should be buying until you’ve learnt that.

Not only about a good and safe storage plan, but how is everyone's psychology in investing in bitcoin because we know Bitcoin or crypto it is a digital currency that has high volatility with rapid price fluctuations.
This can affect their psychology, which will then make everything they hold on to then sell just like that as prices keep falling without knowing the rise will be even crazier.

The need for education from the beginning to get into bitcoin and know how this crypto market works,
so that the investment they have is not in vain and already has a price target that needs to be achieved without fear of losing its value.

First of all you need to know that Bitcoin investment is not a get rich quick scheme it required time and patience. So as a new beginner in Bitcoin investment is always good to have the besic knowledge first before thinking of investing in Bitcoin. Because investing in Bitcoin is very easy but how to hold for future purposes is the problem most new beginners are having, while because they always have this feeling that Bitcoin is get rich quick without realizing that Bitcoin is all about setting up a good source of income. Because that is the only way you can hold your Bitcoin without panicking.

You said it well. Dollar cost averaging (DCA) is the best way to accumulate Bitcoin when you have a consistent income stream. You should increase and maintain continuity in your sources of income. Both income streams and steady Bitcoin savings should be part of your plan. This approach can lead to a large holding after a few years (4-10 years). Long-term savings result in unit worth in your portfolio falling and more profitable opportunities.

Like every other person, getting started in your investment is not something to rush over, you don't need to do everything at the same time even though you have all the theoretical knowledge knowledge on all the investment strategies like buying using the lump sum method and buying the DIP while also trying to DCA.

It's best to stick first to accumulating with the DCA method and even if it won't be a perfect DCA method that works on a set out day and with a set out amount, just buying till you're comfortable with the market is for me the best way to get started. Except the resource is in abundance such that you can afford to DCA and still keep some aside for buying the DIP then you can actually do a combination of the different buying approach if not, it's better to get started with a single method at the start and in the long run, trying other things will then come into play.

If there is, i guess they must be some newbies because majority of investors know how this DCA method work to bring out a suitable profits. Any money that will not allow you to stay long in the DCA method before you can sell your BTC, don't use such money to buy BTC, because we have heard about the down fall of some investors that borrowed money to invest that led them to frustration.

Is not their wish just that they feel selling off their BTC is the best solution for them to settle their financial crisis, because they lack the orientation of DCA method.  If you have a potential orientation of DCA method, there is nothing will make you to sell or trade all  your BTC in a short period of time.

No doubt that DCA is the best way to accumulate Bitcoin especially if he have a stable income weekly or monthly. He only need to focus on buying Bitcoin weekly or monthly without thinking about the price moves. He doesn't have to feel confuse if the price is down and can let it go without hesitate.

As long as he can buy Bitcoin constantly without stopping with the right allocation money, he will grow his Bitcoin amount. Discipline will be needed in this matter so he must be able to continue investing in Bitcoin. Many of us prefer to invest in Bitcoin for a long term.

I'll say more monthly than weekly so you don't have to miss it and stay consistent. Saying weekly, might results to some weeks that you won't have the funds to stack up more Bitcoin. Having a stable income has to be emphasize more because most new newcomer consider investing in Bitcoin to be like a job meanwhile what they should be doing is having a stable job and then investing in Bitcoin. For those that wants to make use of the market as their main source of income, it might be impossible for them because of how the market is structures so the best strategy should be, you having something that you're doing that gives you money constantly then set aside the percentage that you'll put into Bitcoin. Do this for some few years and you would have accumulate lots of Bitcoin before you realize.

Many people already have this concept in their heads, but the major problem they face with this idea is consistently buying Bitcoin even when the price is high. I think this is where OP got all the confusion from and is trying hard to balance his investment. Well, there is no such thing as balancing as far as DCA is concerned, just keep buying. I know that, as convenient as this method may seem, some newbies will not feel comfortable buying Bitcoin when the price is on the higher side.

Investment methods are a choice, they can simply buy a lump sum when Bitcoin's price is low and hold until they reach their investment goals. Both methods require patience, and the goal is still the same: to maximize profits.

Logically you’re trying to make sure you don’t make any loss which might be a very focused task to do and this is in some ways a form of trading if reasoned logically.
If you’re trying to buy bitcoin periodically, then the DCA method should be best for you but this methods doesn’t pay any attention to the price of bitcoin but rather focuses on the need for you to buy at every given opportunity we have funds we can risk. The DCA method is always intended for long term investors who look to build their portfolio over the period without having to over stress themselves and not wanting to sell Everytime the market dips.

Just as the first responder on your post said, I think it wouldn’t be a bad idea if you don’t mind using centralized exchanges like binance specifically, they offer you the opportunity to auto buy and auto sell at your preferred prices.

You have two options: either you buy heavily when the price dips and hodl that lump sum for a long period of time, or you buy the same amount of Bitcoin weekly or monthly (according to your capacity), irrespective of the dip or pump at the time of buying. Investing in Bitcoin should not be complicated.  Bitcoin is volatile, so that balance may not be necessary. Just make plans for a long term journey.

Firstly,I wish you a successful accumulation journey in your bitcoin investment,hope you know bitcoin is not a get quick scheme, it's an investment for the long term.So many bitcoiners have mentioned the preferred strategy a beginner should start with,which is the DCA strategy,there are three strategies for accumulating bitcoin;
1.DCA strategy:This strategy gives an investor the ease to invest on a fixed amount at a regular interval, irrespective of the price.
2.Lump sum:Lump sum is the opposite of DCA, this strategy involves investing your funds on an asset at once.For example,if a person has $2000 and decides to put all that amount into Bitcoin at once that's called lump sum strategy.
3.Buying the dip:This strategy involves buying an asset when there's a price decline.This strategy is only common amongst volatile assets like Bitcoin.

According to the day of registration of your account on this forum, you don't look to be a newbie because your account was registered here for over 7 years now, and I think you should be familiar with everything here and have some knowledge when investing. Moreover, you didn't mention the type of investment you are going to make, because everyone has a different investment thinking, some prefer short-term investments, and some like investing in Bitcoin for a long time.

However, before I give my suggestions, make sure you are financially okay before you make any investments. If you invest in Bitcoin, you are going to have less worry about your investment when the market price changes since you cannot lose money. Avoid altcoins because you can lose money before you even close your eyes. So, regardless of market price, Bitcoin is a safe investment to make continuously, either weekly or monthly.

Each person has it own investment method, but what I want to let you is that we need to know that during investment you will be one that will decide on how you will invest on bitcoin without having a much load by your side, so I believe that anyone that want to be investing gradually it's the person's business, because I know that investment is something we have to know very well, if you can be dropping small amount of your investment and with a gradual process and with the small you invest within 6 months you have accumulate a lot.

The first way will be difficult for a beginner because of course with large funds it will certainly make him panic if there is a decline, because even if we buy when the price drops, bitcoin can drop again, we cannot predict how much the price will drop. As a beginner, of course emotions and specifications are not yet stable, so the second step may be more appropriate, by buying periodically with small money for the long term.

Bitcoin investment, although very safe from other assets, especially for the long term, we must start with small capital so that this will also train us to control emotions and so on because the price of bitcoin is very volatile. Over time, we will also slowly learn the characteristics of the market and then slowly start with larger funds. Everything, especially if you are still a beginner, it is better to start with small funds.

It is very important to research Bitcoin thoroughly, however, Bitcoin is a digital currency, since Bitcoin is not controlled by any central government or bank, it provides freedom to users, the price of Bitcoin also fluctuates, in Bitcoin you can see profits as well as dumping, so you need to gain enough expertise in investing otherwise you will panic.