Bitcoin Deposit Strategy for Beginners!

[Marykeller]

As we can have this called DCA ways of investment, which seems to be the best way to accumulate Bitcoin for the long term, let's keep in mind that this DCA strategy can be put a stop to or increased depending on one finances. But if one manages to be consistent and sees to the end of their long term plan of investing in Bitcoin through the DCA strategy, the profits that they are to make, are always mind-blowing that they will love to share with others how they invested with the little amount they have, and stick to that for years

[Solosanz]

How quickly do people age in your country? And what about the fact that after five years a person becomes a professional, and his experience begins to be worth more than it was at the initial stages? I am more inclined to believe in this than the fact that people become unclaimed after five years. It is also strange to see that you allocate most of your money to buying bitcoins. May I ask, what do you live on? If you have parents, then in this case, I do not welcome living at their expense. I do not see the value in standard in terms of price investments in bitcoins. We are all living people, and our needs grow at different times in different ways. In the same way, being too frugal to make a profit in the future is also not entirely correct. Live so that at the end of life you can remember without regret that everything you have accumulated did not spoil your health or your dreams.

It's quick compared to other countries.

Here, most companies only accept <30 years people to work, if you're hit 30 years old, you're high unlikely can work in white collar jobs. Most companies will fire their employees at 40 years old due to low performance, while there are many young unemployment can work better and willing to receive less salary.

Having 5 years work experience doesn't always mean your skill are still relevant with the current demand. Average graphic designer is the example, instead of hiring them, people choose to use AI to create average artwork for them.

I live alone, my parents live in their house, I pay my own rent, maintenance, food, that's.

I can't say I'm too frugal, but I'm comfortable with the way I live. If other people having a dinner at restaurant every week, buy new clothes every month, changing their phone every 6 months, changing new car every year.

While I'm cooking for myself everyday, still using the same clothes which I bought 2 years ago, still using the same phone which I bought 4 years ago, still using the same motorbike which I bought 10 years ago.

[Kelward]

This method of accumulating bitcoin is called Dollar Cost Average (DCA), and you can use it to buy bitcoin weekly, bi-weekly or monthly overtime. It is an effective method of increasing your bitcoin if you can be consistent with buying always to keep your bitcoin accumulation ongoing. I think if you can use $20 for every week, which is $80 or more weekly, you will have double that amount in 5 years. However, you use only use your discretionary income to invest to avoid loss.

DCA method is no doubt the most effective method to accumulate and grow your Bitcoin investment, if you're disciplined and focused on achieving long term ROI. Most low and average income earners who don't have the funds to do one time huge accumulation, can gradually grow their bags and within some years they will accumulate a huge amount of Bitcoin. Although the best time to accumulate Bitcoin is during bear run, but why wait till bear run when you have the money to accumulate during bull run. If your goal is hodl for many years, you won't worry much about the present price, you'll know that it'll still give you high ROI in the future.

[Hatchy]

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating.  If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

[AirtelBuzz]

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.



If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

The Bitcoin deposit strategy for beginners that you've discussed extensively is called the Dollar Cost Averaging (DCA) method. Through this method any investor can buy and deposit any amount of Bitcoins as per his ability. Using the DCA strategy, an investor can purchase $10, $20, or even $50 or more to invest in Bitcoin on a weekly, monthly, or quarterly basis. Basically this method is most effective for those who cannot afford to buy large amounts of bitcoins at once.

Moreover, if you adopt the DCA strategy, you don't have to wait for the market to be dip all the time, Before investing using this strategy you need to ensure a fixed source of income through which you can continue to invest consistently.

[laijsica]

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating.  If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

I totally agree with you. DCA is a simple method for depositing Bitcoins and can be an effective method for investors of any level. If a person has a reliable source of income and discretionary income at the end of the week he can run any size deposit and with long term management an investor can get a decent sized portfolio. Having a reliable source of income is very important for an investor because if his source of income and discretionary income are comparatively less then the process of starting investment should be delayed.

Another thing to keep in mind when investing in Bitcoin is to create a backup fund that can meet the emergency needs of the long-term investment without withdrawing the invested capital for the fund investor. Investing in Bitcoin should stick to a long-term investment plan to minimize investment risk.

[Lucius]

~snip~
While I'm cooking for myself everyday, still using the same clothes which I bought 2 years ago, still using the same phone which I bought 4 years ago, still using the same motorbike which I bought 10 years ago.

I don't see anything wrong with all of this, and regardless of what I can afford maybe more than others, I still have a smartphone that I bought 4-5 years ago, I cook at home and I don't buy clothes just to have drawers full of unnecessary things. I think that we simply very easily fell into the trap of consumerism, which is not only good for our finances, but has a disastrous effect on our entire planet.

If people knew how many resources are needed to produce one pair of pants or a T-shirt, they might stop and think about whether they want to follow fashion or live healthier than they do today. Instead of spending on unnecessary things, everyone should consider investing their money more wisely - I'm not saying that Bitcoin is the only thing to invest in, but it is certainly one of the options that should be considered.

[Perfectbaby]

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating.  If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

That is why it's always advisable to used an amount that won't affect their overlife performance, were they would have to go to an extent of putting themselves in a very wrong and tight corner just in the name of making investment, although it's actually cool adopt to the technology on time but holding some Satoshi's but then it there should be a stable income that would financed the whole process be it DCA, one time off or any other strategy that would be implemented to bitcoin investment.

[Odohu]

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

This is the right strategy to follow but then what if the person is not working how would they apply this methods?
The truth is whatever amount the person has decided to use and invest is the right choice for the person because everyone must not have the same investment capacity were they would go as dip as using what they can't afford to invest in bitcoin, or even though someone is under paid and he decided to invest in bitcoin with his money can also lead to another problems were he would have to borrow till the month runs, but again another thing to consider as well is that what if he's salary wasn't increased.

This is the question many people are not asking because without a stable source of income, it is a lost battle trying to accumulate Bitcoin. Even of the investor manages to buy Bitcoin but do not have the cashflow to protect the investment, there are high chances that the investment will be liquidated. As much as buying Bitcoin sounds so interesting and motivating, we have to put effort to tell people that they need to fix their finances first so they will have the part they can set aside for investment in Bitcoin. DCA method is a wonderful method but it is best for those who have regular income like those in business or earning from paid employment. These are the people that can systematically work out what part of their income they can invest in Bitcoin without being under financial pressures that can make them sell their investment when they did not plan to.

[Peanutswar]

This is one of the common strategies right now for people doing a DCA which is to invest with the current price of the bitcoin and just wait for the long term like ATH to make a withdrawal which is a good strategy for the people who don't actively check the market and don't get carried away with their emotions with the market volatility. I recommend at the same time having this strategy, but if you want to get more active with your gains and grab the market volatility do some squeeze with the market like buy low and sell high, and next once you are now getting more knowledge and skills with that strategy you can try with the futures trading this you can earn a lot more depends on how much you will risk with the capital and leverage.

[liasbaa]

Clearly it's the DCA method that the op didn't mention in his post. Yes investors of every level from newbies can deposit bitcoins easily with this method. However, if the investor can manage his reliable income ratio regularly, he can profit a lot. My question is if one does not have excess discretionary income should one withdraw from investing or depositing bitcoins? I think there is no good system for poor people to own bitcoins.

But I also think that if the poor man has the inclination to start with $2 a week and gradually increase his deposit, he should not be discouraged. Later on he may run more DCA deposits of bitcoins and grow more over time.

[Z_MBFM]

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible

This strategy definitely good but However, not everyone has the ability to follow such a routine investment. Because at the current rate of inflation and the cost of everything going up at a massive rate, it is very difficult to save from a job while earning a salary.  But if someone can do it then surely it will be good for him. and the rate at which the price of Bitcoin is going up will make it more expensive in the future then Bitcoin will move out of our realm. so those who continue to invest in Bitcoins following DCA will make incredibly good profits in the future. So I definitely supported strategy

[Roseline492]

Bitcoin investment opportunity can be more fruitful for the newbie if he can adopt proper strategy like setting aside a portion of his income every week and keep it as small as $10-$20 per week. Also if this amount is not possible it can be $5-$10 and the deposit amount can be increased every year with increase in salary. Let's say if he can add another $10 or more every year then his deposit will continue to grow and if he decides to keep depositing bitcoins for at least a 5 year cycle then he will be a normal level holder if not a huge amount. possible You can get a more clear idea through a column below.

Your strategy is okay but however I would have suggested that you target on one year and if after the one year you realize that you were very consistent on the amount you were using on the weekly basis then you can think about using the amount you intend to use on the second year pending on how the salary is coming because not everybody that can even meet up with $10 weekly even if they have the intention of using such amount in a week because finance will always be the problem, so actually I have consider the idea of just investing and if I'm short of funds I will hold on a bit and continue when I have refilled again and any amount of Bitcoin I was able to achieve within a year I will be happy and continue investing.

[CryptoHeadlineNews]

If you can run this process for another 5 years it is possible to at least double the amount of Bitcoin holding growth and if you are able to deposit regularly. Over time your skills will increase and so will your salary thereby increasing your Bitcoin accumulation.

Yes, this is a very good Bitcoin investment strategy, as you stand the chance to benefit more than if that same money kept in fiat currency, because due to the constant depreciation of our local fiat currencies, it's a wise decision to keep funds in Bitcoin, where you stand the chance to gain more if it's price skyrocket. But however, if a user could be consistent to invests $10 weekly in 5yrs, in a month (i.e 4wks) he/she should be having $40, and likewise in a year (52wks) he/she should be having roughly $520. Then in 5yrs, that should be roughly $2600, of which you still stand the chance of earning higher if the price skyrocket.

[Jewan420]

I don't want to set any fixed amount for investing in DCA. Because I use the entire amount of money left over after meeting my needs for investment. It is normal that one month's investment amount will be lower or higher than another month's. I think in this method of investment an investor gets full freedom to decide his investment amount. But the chart you have shown can be useful for a newbie investor. But this amount of investment should be determined depending on his income or depending on his situation.

[Cryptohygenic]

That is a good analysis but in a simple term regarding beginners Investing on bitcoin, you can always invest with affordable amount to loose and when you think you have some spare funds such as ones you have to spend on leisure outdoors, you can minimize those liability expenses and have some invested on bitcoin.
Keeping hoping you would make it big in a long time as you invests on bitcoin. Probably by the ways you can employ some accumulating strategies when youisg have built a solid emotion that bitcoin is worth investing on with an expectation of making profit out of it when realized it is Worth a asset.

[Altryist]

 The table simply takes into account how much money will be invested in bitcoin, but if this is carried out over several years, then most likely this strategy will affect both bear and bull markets, I mean that after the purchase, the price of bitcoin can fall and for a beginner this can be a difficult period. In general, a good example of how to start, but I think that over time, interest can grow and the investment amounts will also grow, the main thing in this matter is discipline.

[CryptopreneurBrainboss]

There's no method of accumulating BTC that doesn't involve using money. The DCA is one of the easiest method to accumulate Bitcoin as you don't need to always wait for the market to dip which we know as another strategy of accumulating.  If one doesn't have a good source of income, the be thing is to use the little you have to take care of yourself. Bitcoin investment and profits is based on long term. You shouldn't rush into investing when you have no stable source of income of which you might now get back to using your investment capital..

There are other methods of acquiring an assets like Bitcoin that doesn't involve money but most of the method are always time consuming and you'll be exchanging your time for the asset.

You can teach and get paid in Bitcoin, those you're impacting the knowledge on will pay you in Bitcoin and you can be accumulating that way. You can also work and be paid in Bitcoin.

I know there are some works that still pay in Bitcoin. I remember working for a project that once paid me in their token and that was one way I was using to accumulate the tokens but it turned out to be worthwhile at the end. So imagine if that as Bitcoin that I was receiving, I would have saved up a large quantity.

You can do micro tasks online too and get rewarded (something like signature/bounties, Airdrop etc). You mightn't necessary receive Bitcoin but provided the reward you received can be converted to cash, you can use that to purchase Bitcoin.