Buy the DIP, and HODL!

[jossiel]

so we shouldn't get distracted or confuse ourselves with things that is/are not suppose to

On this market, it is brutal to everybody. But you choose what's going to make you confused or not bothered at all. Many are very confused not just ourselves but also to the news that are coming out. With some movements of huge funds from A to B, they're already shaking and thinking that the market is going down.

You remind me so much of when I was focusing on trading because these were our line of thought that the market has no mercy for anyone. Well, if you chose to put yourself in the line of fire by trying to predict every move of the market as traders do, the market will indeed be brutal to you. It takes just the decision to change from trading into holding to come out of the torture that comes from such situation of being dealt with by the market on daily basis.

That is why every trader needs to take time before making decisions and for this, I don't want to put the hassle on myself so it's best to HODL.

I found my peace the day I transitioned from being a trader to a holder. It was really a big relief because I never experienced peace of mind then like I do now and the growth I have seen in my finances is massive and totally different from the stagnation and frustration I was facing trying to predict the market.

Nice.

You don't have to be worried about the market actions and will not be problematic anymore about FUD that are being scattered through the media.

Therefore, the market is not brutal to me now, I have peace and I appreciate the market dynamics because I take advantage of everything the market gives. I buy the dip and HODL.

Well done.

Accumulate and HODL. 

[Taskford]

Your forgot to mention 'patience' because it is also one of the criteria that will enable you to be able to withstand the tough times when you feel like giving up due to some unforseen events that might occur in the future. Yes, as a beginner you shouldn't wait to acquire all the necessary knowledge before you start investing in Bitcoin because you may not actually understand the dynamics of investment until you have invested then you can seek the complete knowledge gradually however, a beginner should not only depend on the information they hear or come across online or just follow people that feels they are experts as there is need to DYOR so that you can have a backup with the information gotten from other people or sources. It is also good to know that investments are risky, therefore acquaint yourself with the right knowledge that will guide you through your accumulating stages but that should come after you must have started making your investments in Bitcoin.

Patience is habit, trait an investor will learn by himself which cannot be acquired as Knowledge concerning Bitcoin investment.  I know it's in the nature of Man to fret,give up, panic when there expectations isn't met.. such investor hasn't accepted the risk involved and also still lacks Discipline and not necessarily Patience (note am not undervaluing patience.. but Acceptance of Risk is what makes the difference and not being patient when you know you made the wrong move in the Bitcoin Market).

I don't understand your last paragraph; You saying a Bitcoiner should acquaint himself with the right knowledge that will guide him during the accumulation stages but it should come after he must have started making investments in Bitcoin is it that he should invest without any information first..? Then he can acquire the knowledge as he invests.
What are you implying?

I believe a newbie can learn overtime about Bitcoin Ecosystem as he invests in Bitcoin also can still acquire the necessary knowledge even before investing, but he shouldn't expect to learn everything before investing because it's waste of time,the knowledge can always be acquired along the line, but it doesn't mean he should be totally ignorant before risking his Money.

Don't misunderstand me, I didn't say an investor should not have knowledge of investment while starting but what am implying is that a beginner don't need to get all the necessary knowledge before making investments but after he must have made his investments then he can still get the right knowledge and the right approach to follow up his investments so by that time he has already invested. When I say accumulating stages am still talking about the periods of his investments so don't get it twisted. Normally, any investor must have a literal knowledge and understanding about the investment they want to venture into but more knowledge will be required when investment has been made already.

Exactly, you can not know everything about a particular project or investment before you dive into it but rather it's required I mean it is necessary to know the basic part of  those things before..., Besides most people who called themselves old investors etc was once a novice and I believed they didn't know all concerning Bitcoin before they venture into it but it was along the line they started getting more insights I mean Knowing more about Bitcoin and so they have to restructure themselves and the path they were not getting right. Moreover learning doesn't end, it's a continuous process the further one go the more he or she learn.

Actually people don't need to learn more technical information about bitcoin since anytime even with zero or less knowledge they could able to start their accumulation journey. They will just somehow waste their time if they do more exaggerated research because they afraid to commit mistake.

They could learn all of it on process especially when they already have money invested on bitcoin since frequent researching is needed and by that they could able to learn all things they needed and they can locate those valid arguments that able to help them learn. Learning Bitcoin is never ending process so they make sure that aside from researching they should accumulate since your research made will became nothing if you decide not to accumulate because you think research is important first before doing that actions or decision.

[Btcdeybodi]

Exchange is the first place a new investor needs to store his bitcoin in the beginning because it is from exchange that he will buy his bitcoin from and because he is new in bitcoin and have the money to start buying immediately, he will leave his coins in an exchange and gradually when his bitcoin size is increasing due to regular DCA purchases, he can learn on which wallet that he can use to keep his bitcoin safe. You should also know that since he is a new investor and getting started immediately is the best no matter how little the amount is, he needs to pile up his bitcoin in an exchange so that it can get up to $500 and above before he can send it to his self custody wallet that is best for him.

If not for high transactions fees I see no reason why you should buy and accumulate Bitcoin in an exchange because it can become vulnerable to hacks, we should know that exchanges is not the best place to store our Bitcoin no matter how little it is because the security of our Bitcoin should be taken at utmost priority. I know that $500 may not appear too big for you but to some people it is especially when they think of the amount in Fiat they used to buy such quantity of Bitcoin so there is no amount that is too small to lose but as for me, so far as I have long term hodling targets, i will prefer to move my Bitcoins to self custodial wallets immediately after making the purchase. Exchanges are risky to keep one's bitcoin and leave till you have accumulated enough, don't forget that there were previous cases of exchanges crashing and a lot of people that had assets in those exchanges lost everything so we ought to give our assets maximum protection which is to seek for self custody wallets even though the asset may be very little, it's better to lose part of your assets as transaction fees than lose everything to exchange platforms.

Your idea of wtihdrawing your Bitcoin from an exchange to a self custody wallets is not bad but your reasoning ability looks a bit childish because how can you buy a small unit of Bitcoin and then you immediately withdraw it from an exchange to a self custody wallet? Isn't that stressful like making withdrawals all the time and considering the fact that someone who is using the DCA strategy will need to be buying Bitcoin at regular intervals which means if we are to buy your idea then Everytime we DCA we also withdraw it from the exchange it was bought from and transfer to a non custody wallets. Accumulating upto $500 to $1000 in an exchange isn't that too risky even though the amount may appear risky for you to leave in an exchange but it also depends on the amount you DCA that will tell how long it will take you to accumulate up to $1000 before moving it out of the exchange wallet to a non custody wallets.

Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

[Hewlet]

so we shouldn't get distracted or confuse ourselves with things that is/are not suppose to

On this market, it is brutal to everybody. But you choose what's going to make you confused or not bothered at all. Many are very confused not just ourselves but also to the news that are coming out. With some movements of huge funds from A to B, they're already shaking and thinking that the market is going down.

You remind me so much of when I was focusing on trading because these were our line of thought that the market has no mercy for anyone. Well, if you chose to put yourself in the line of fire by trying to predict every move of the market as traders do, the market will indeed be brutal to you. It takes just the decision to change from trading into holding to come out of the torture that comes from such situation of being dealt with by the market on daily basis.

That is why every trader needs to take time before making decisions and for this, I don't want to put the hassle on myself so it's best to HODL.

why take time to gamble with your investment when you can just buy and HODL? Sometimes in a bit to play too smart we end up shooting ourselves on the foot when we can just do the simple things that's less stressful. Buying your Bitcoin and HODling is something you can do while you're still doing your regular jobs and it will have zero effect on your job so why stress yourself trying to time the market and taking your time not to make any mistake and eventually making the mistake and losing all your funds or part of it in the process while you could have just bought your Bitcoin and never get bothered about price sentiment?

I found my peace the day I transitioned from being a trader to a holder. It was really a big relief because I never experienced peace of mind then like I do now and the growth I have seen in my finances is massive and totally different from the stagnation and frustration I was facing trying to predict the market.

Nice.

You don't have to be worried about the market actions and will not be problematic anymore about FUD that are being scattered through the media.

That's obviously the sweet thing.
All you need is to know that I'm buying my Bitcoin at a set-out day of the week if you're doing a weekly DCA or at a set-out day of the month if it's a monthly DCA and ensure that your funds are always available for your routine accumulation and that settles it all. When those trading are sad during the DIP, you're happy because the market has presented an opportunity for you to even buy more at a lower cost which all plays out to your own advantage.

[Kliss]

so we shouldn't get distracted or confuse ourselves with things that is/are not suppose to

On this market, it is brutal to everybody. But you choose what's going to make you confused or not bothered at all. Many are very confused not just ourselves but also to the news that are coming out. With some movements of huge funds from A to B, they're already shaking and thinking that the market is going down.

You remind me so much of when I was focusing on trading because these were our line of thought that the market has no mercy for anyone. Well, if you chose to put yourself in the line of fire by trying to predict every move of the market as traders do, the market will indeed be brutal to you. It takes just the decision to change from trading into holding to come out of the torture that comes from such situation of being dealt with by the market on daily basis.

That is why every trader needs to take time before making decisions and for this, I don't want to put the hassle on myself so it's best to HODL.

why take time to gamble with your investment when you can just buy and HODL? Sometimes in a bit to play too smart we end up shooting ourselves on the foot when we can just do the simple things that's less stressful. Buying your Bitcoin and HODling is something you can do while you're still doing your regular jobs and it will have zero effect on your job so why stress yourself trying to time the market and taking your time not to make any mistake and eventually making the mistake and losing all your funds or part of it in the process while you could have just bought your Bitcoin and never get bothered about price sentiment?

I found my peace the day I transitioned from being a trader to a holder. It was really a big relief because I never experienced peace of mind then like I do now and the growth I have seen in my finances is massive and totally different from the stagnation and frustration I was facing trying to predict the market.

Nice.

You don't have to be worried about the market actions and will not be problematic anymore about FUD that are being scattered through the media.

That's obviously the sweet thing.
All you need is to know that I'm buying my Bitcoin at a set-out day of the week if you're doing a weekly DCA or at a set-out day of the month if it's a monthly DCA and ensure that your funds are always available for your routine accumulation and that settles it all. When those trading are sad during the DIP, you're happy because the market has presented an opportunity for you to even buy more at a lower cost which all plays out to your own advantage.

Buying and HODLing bitcoin is very stressless, compared to the stress  involved in trading. In my own perspective There's no need to gamble your resources in trading when you can just buy and accumulate bitcoin at your comfort using a DCA strategy which is stress free, in accumulating Bitcoin without the pressure of timing the market. Holding Bitcoin can be helpful and stress free for folks who engage in other jobs or working class individuals, it can help avoid the stress that comes with trading such as Analysing the market frequently, making fast decisions and potential loss of money. Doing other job or working and being a trader can be a very difficult task which can result in attention divided causing lack of balance between work and trading but HODLing bitcoin is stress free especially when DCAing, all you have to do is just setting aside funds weekly or Monthly consistently to buy bitcoin on a regular basis to grow your bitcoin holdings steadily without  monitoring the market. It's more safe and relaxed than trading.

[Agbamoni]

That is why every trader needs to take time before making decisions and for this, I don't want to put the hassle on myself so it's best to HODL.

Trading is not an option for people who want to achieve a good investment. Waiting for a price drop and buying and waiting for a price high then selling at some point is going to feel better as you make those quick little gains. But am going to say this there we be a time when an investment is supposed to kick the saddle and make some inclined decisions on his investment. Hodlnig is better any day, and it is comfortable for both new and old investors. The only knowledge required for hodling is to ensure that your Bitcoin is safe after you've known how to buy. On the other side, trading requires a deeper understanding which to some extent can be limited to a few persons who might end up successful in it. So why risk it all in trading instead of holding as an investor?

Buying and HODLing bitcoin is very stressless,

I understand the peace when we just buy and hold bitcoin for long term. But at the same time, we have seen what happen when there is a bear market and price dips. People begin to panic a start selling off, and also don't forget how life even can occur, when it throws a curve ball that may make someone tap into their investment. Honestly there is less stress and less room for mistake if only an investor can just maintain absolute discipline and tolerance. Which we know that many humans find it hard to have tolerance.

[Justbillywitt]

Exchange is the first place a new investor needs to store his bitcoin in the beginning because it is from exchange that he will buy his bitcoin from and because he is new in bitcoin and have the money to start buying immediately, he will leave his coins in an exchange and gradually when his bitcoin size is increasing due to regular DCA purchases, he can learn on which wallet that he can use to keep his bitcoin safe. You should also know that since he is a new investor and getting started immediately is the best no matter how little the amount is, he needs to pile up his bitcoin in an exchange so that it can get up to $500 and above before he can send it to his self custody wallet that is best for him.

If not for high transactions fees I see no reason why you should buy and accumulate Bitcoin in an exchange because it can become vulnerable to hacks, we should know that exchanges is not the best place to store our Bitcoin no matter how little it is because the security of our Bitcoin should be taken at utmost priority. I know that $500 may not appear too big for you but to some people it is especially when they think of the amount in Fiat they used to buy such quantity of Bitcoin so there is no amount that is too small to lose but as for me, so far as I have long term hodling targets, i will prefer to move my Bitcoins to self custodial wallets immediately after making the purchase. Exchanges are risky to keep one's bitcoin and leave till you have accumulated enough, don't forget that there were previous cases of exchanges crashing and a lot of people that had assets in those exchanges lost everything so we ought to give our assets maximum protection which is to seek for self custody wallets even though the asset may be very little, it's better to lose part of your assets as transaction fees than lose everything to exchange platforms.

Your idea of wtihdrawing your Bitcoin from an exchange to a self custody wallets is not bad but your reasoning ability looks a bit childish because how can you buy a small unit of Bitcoin and then you immediately withdraw it from an exchange to a self custody wallet? Isn't that stressful like making withdrawals all the time and considering the fact that someone who is using the DCA strategy will need to be buying Bitcoin at regular intervals which means if we are to buy your idea then Everytime we DCA we also withdraw it from the exchange it was bought from and transfer to a non custody wallets. Accumulating upto $500 to $1000 in an exchange isn't that too risky even though the amount may appear risky for you to leave in an exchange but it also depends on the amount you DCA that will tell how long it will take you to accumulate up to $1000 before moving it out of the exchange wallet to a non custody wallets.

Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

It all depends on the amount of money you are using to DCA. If it's someone that's buying up to $200 and above at once I will suggest you move it to non custodian wallet immediately after each purchases. But if it's someone that's buying with smaller amount, you can accumulate it till it gets to the region of $200 maximum then you can withdraw to your wallet. Another solution to this is that when you are making your budget to buy your bitcoin, you have to make provisions for withdrawal fees, since you are aware that exchanges requires withdrawal fees.

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

[Wind_FURY]

While you're being scared, smart money is doubling down.

That’s because this dip is nothing new.

As you can see, Bitcoin goes to a new all-time-high every 4 years:

2012: Bitcoin goes from $12 to $1000 = ~9,000% increase
2016: Bitcoin goes from $650 to $19K = ~3,000% increase
2020: Bitcoin goes from $8K to $69K = ~1,200% increase
2024: ?

Notice how, in every consecutive cycle, the #Bitcoin    returns get smaller by about ~60%.

That would imply a 450% price increase this cycle, putting Bitcoin at ~$330,000 per coin.
here
Thoughts?



An investor will fully understand how to invest from here, because once you buy the dip it will hit the highest level in the next bull market. So it is proven that once an investor invests and if he buys DCA method or regular dip then he will definitely get success. And this figure proves the success of investors.

That post of yours reminded me of something like this meme about the Bitcoin doubters and the haters.



I may sound like a broken record again for asking this question and using as a basis for a debate why are doubters being doubters, and why haters are being haters.

- How long must the network chug along and prove itself before they accept Bitcoin as a new asset class?

Note, every one must not and cannot accept Bitcoin as a new asset class as it is normal while others will be ignorant of it  others will as well be taken advantage of it's benefits, it has really shown and have proven beyond every reasonable doubt to have a solid foundation which alot of people I consider to be sighted, indecisive, refusing and failing to see the potentials that Bitcoin holds. Historically it is very much evidenced and vivid enough not to be doubted or hated,(anti Bitcoin). However, everyone is at liberty to do whatever they like.

In two or three decades, there will probably two different types of investors and it will be obvious merely by looking at their portfolio,

- Those who bought the DIP/DCA and who HODLs Bitcoin
- Those who have dismissed Bitcoin entirely, and it's performing relatively poorly for it

¯\_(ツ)_/¯

[chigo]

Actually people don't need to learn more technical information about bitcoin since anytime even with zero or less knowledge they could able to start their accumulation journey. They will just somehow waste their time if they do more exaggerated research because they afraid to commit mistake.

They could learn all of it on process especially when they already have money invested on bitcoin since frequent researching is needed and by that they could able to learn all things they needed and they can locate those valid arguments that able to help them learn. Learning Bitcoin is never ending process so they make sure that aside from researching they should accumulate since your research made will became nothing if you decide not to accumulate because you think research is important first before doing that actions or decision.

It's like someone who is constantly learning but never applies what they learn, like that is someone who is interested in Bitcoin and continues to do research and study, but never dares to enter the market just because they think they are not ready for it.

If someone continues to think that they are not ready to invest in bitcoin just because they think they are not ready, that is a mistake. A person must be able to learn and accumulate at the same time, and from this they will be able to see how investing in Bitcoin really is and how the knowledge they have accumulated is applied directly to their investment.

And later they will also be able to gain experience from this, and that is much more important than the knowledge they have.

[Tmoonz]

If you are a new investor then surely this investment strategy will work for you. You just continue to invest in this strategy consistently and at some point you will realize for yourself how positive this strategy has been for you. When you look at your total investment after a long period of time, you will be amazed at how much you have invested even with small investments.

Not only new investors but also many experienced or old investors are now increasing their investments by adopting DCA regularly.

Dollar cost averaging is a progressive and balanced investment strategy. One of our goals in investing in this way is to lower the average cost and even aim for better returns over the long term. Those who have sufficient capacity may not invest in this method, but those who do not have sufficient capacity and even if they are willing to invest, if they invest using this method, it becomes easier for them to invest. Because by adopting this method you will be able to invest even in small scale. Buy Bitcoins with the same amount of money every week or month using DCA regardless of whether the price of Bitcoin goes up or down. I read in the pages of the book that small grains of sand form continents. Similarly, if you invest in the dollar cost averaging method, your small investment will eventually turn into a large one.

The DCA strategy is a powerful packaged strategy which shouldn't only be prioritized it usage or talked about in terms of those that do not have sufficient money, but it is a strategy that is being used by any kind of investor irrespective of financial capacity because of it's tremendous benefits. However, just as we have always be saying that every investor must tailor down his or her choice of strategy or strategies to suit his or her, psychology, risk assessment level, financial capacity, investment goals and objectives, yeah one can have so much money and can decide to come into Bitcoin investment with the DCA strategy because that might be what suits him or her in terms of psychology or risk assessment level which differs from one another while the money can is there. Moreso, am not completely of the opinion that the DCA amount must be a fixed or the same amount, one can increase or decrease the DCA amount based on how much of your disposable income considering the fact that expenses can varies in weeks or months, but if you have it all figured out on how your DCA amount can be fixed without affecting your other living expenses negatively it can as well be good, my point is that your DCA amount shouldn't be seen as a burden because you want to meet up your specific dca amount.

[Salahmu]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

Well I understand your points but however from your explanation don't you think the investor will lose a lot of money as a fee? Or being affected financially? Because for an investor to choose investing $50 on a weekly basis means that he cannot afford any other amounts higher than what he had budgeted for the Bitcoin accumulation on the weekly basis, so perhaps advising him to add extra $5 could indirectly be regarded as aggressive investment because is very certain is going to affect him on the process which is why in as much as we are always positive we should also consider some challenges that could possibly occurred if taking a certain decisions because having that mindset always guide us very well on our Bitcoin journey.

So actually after considering all this fact I think the best way is to utilized the Consolidate method of investment which simply means that instead of accumulation and withdrawing your accumulated Bitcoin from the Cex you could possibly give it months interval and by then you have gotten a huge amount of Bitcoin that you can possibly withdraw at ones into your custodian wallet and by then the amount you would have use as a fee will be very smaller compare to withdrawing on weekly basis.

[rachael9385]

Well, your points are not actually bad but the most important knowledge that a new Bitcoin investor needs before applying security to his holdings is how to buy. If an investor knows how to buy he can also know how to secure his Bitcoin, at that moment he believes that it is his asset because he exchanged his fiat for Bitcoin through p2p, at this first point when he has purchased Bitcoin he doesn't care if he has make profits or not, the next step is for him to send the Bitcoin to the wallet he will use for holding. Which means after buying, the other important step is sending.
As a newbie to Bitcoin investment, you also need to calculate the figures of Bitcoin you have, so that while sending from the exchange you bought Bitcoin from to the wallet that you will use for holding you can be able to figure out the fees for your transactions so that you will know the figures of Bitcoin that you will receive.

Personally I feel a newbie should learn about a secure wallet and method to implement

You have said well but there is also something I want you to understand, as a newbie to Bitcoin investment, learning about a secured wallet when you have not yet buy any Bitcoin is not a good move,
 the important thing is buy the Bitcoin first before any other thing, while waiting to know a good and reputable wallet to hold your Bitcoin you might have missed some good opportunities that won't come back again. Now let's say you wanted to buy $200 worth of Bitcoin, and you are still waiting because you are contemplating about a more secured wallet, you might miss the dip (if you are also the type that want to buy during dip period) and you might still end up not buying at all because you haven't seen any wallet that's suitable for you. Am only saying that you should buy first before making any other move that's why buying is the most important knowledge a new Bitcoin investor needs to know.

Before learning how to * or sell.

You are still getting it wrong, as a new Bitcoin investor you don't need to sell yet because you haven't achieved anything (unless you are not investing for long term).
Long term investment is the goal and a new Bitcoin investor who has applied DCA method should not think of selling his/her Bitcoin anytime soon because holding BTC for long term is not about sell and buying again (only traders does that), you only need to buy, buy and buy until 5 or 10 years of investment. Dipping your hands into your investment won't profit you anything rather it will make you not achieve a good portfolio.

I kind of not agree with your perspective on newbies not learning about a secured wallet first before starting their investment, in fact, this should even be the very first thing to do because we are talking about where you are going to store your funds here and should be taking with priority, So to me, I believe it quite a very good move and even a wise thing to do for every beginner out there as this is one of the basic stuff we need know before kick-starting of any investment in the digital/crypto world.

Well, the truth is that if it's about Bitcoin investment the person need to start as soon as possible because every time waisted Bitcoin will either go down or goes up and if Bitcoin dips during the time the person haven't buy Bitcoin it will take a long time for Bitcoin to dip again. IMO if one has bought Bitcoin already, how to secure it will not be a problem, that's why I said earlier that the first knowledge a new Bitcoin investor needs is to know how to buy Bitcoin before learning how to secure it.
If you haven't own an asset and you are learning how to secure an asset what will you secure after learning it?
Learning how to secure your bitcoin before learning how to buy bitcoin makes no sense. If you already bought Bitcoin from an exchange, while learning how to secure it you might learn more things (is like using one stone to kill two birds), while learning how to secure your Bitcoin after buying Bitcoin you will also notice the price fluctuations, so it's not bad to learn how to buy Bitcoin before learning how to secure what you have bought.

Buying and HODLing bitcoin is very stressless,

I understand the peace when we just buy and hold bitcoin for long term. But at the same time, we have seen what happen when there is a bear market and price dips. People begin to panic a start selling off, and also don't forget how life even can occur,

Using DCA method to invest on Bitcoin is the best option because it gives us the peace of investing at our own comfort, and it doesn't put us in to the pressure of investing.
However, the truth is that only people who are not disciplined to invest on Bitcoin for long terms only panics when Bitcoin is dipping because their don't see the dip as an opportunity to invest more. They only want Bitcoin to skyrocket within a specific time of there's so that they could sell off and make profits on their own. But they should try and understand that Bitcoin is not a get rich quick scheme and they should also understand that for them to profit well on Bitcoin, they have to invest for long term.

[Samlucky O]

Well, your points are not actually bad but the most important knowledge that a new Bitcoin investor needs before applying security to his holdings is how to buy. If an investor knows how to buy he can also know how to secure his Bitcoin, at that moment he believes that it is his asset because he exchanged his fiat for Bitcoin through p2p, at this first point when he has purchased Bitcoin he doesn't care if he has make profits or not, the next step is for him to send the Bitcoin to the wallet he will use for holding. Which means after buying, the other important step is sending.
As a newbie to Bitcoin investment, you also need to calculate the figures of Bitcoin you have, so that while sending from the exchange you bought Bitcoin from to the wallet that you will use for holding you can be able to figure out the fees for your transactions so that you will know the figures of Bitcoin that you will receive.

Not quite
In Engineering there's a saying in my side that before learning how to switch ON a machine learn how to switch it Off first
There are people, I mean lots of people that can buy and sell Bitcoin but few of the majority can really secure their holdings
Like we normally say if it ain't your keys, it ain't your coins.
What am saying is even if you can buy and sell Bitcoin with no prior knowledge on how to secure it
Good wallets to use among other security measures
It's the same as placing your money in an empty pockets
The importance of security is quite underrated
Personally I feel a newbie should learn about a secure wallet and method to implement
Before learning how to buy or sell.

For me I would say it is important to study about security measures before investing in Bitcoin, but it doesn't mean that one should apply for online or offline course to only study much about security measures and how to buy and sell bitcoin before starting to invest. As far as I know we all here learnt it in one way or the other, most people learnt it online and practice it, while some learnt it here in this forum through regular conversation and creating of thread. Any newbie that want to lean will learn, I don't see much deal or grammar in leaning how to invest in bitcoin it's simply, buy from a centralized exchange like binance, kucoin, bybit, bitget or any other centralised exchange supported by your country, and send to decentralized or self custodial wallet like metamask, electrun wallet or truswallet, for the specific period of time of accumulation of maybe 4-10 year or above and make sure you keep your 12 or 24 key pass phrase safe from people or avoid saving it in your mobile device to avoid hack, that's just all.

[Odohu]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee.

I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So like I said before, instead of this, a weekly DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximize the opportunities while cutting down the cost of doing that.

[BITCOIN4X]

~Snip

I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So lile I said before, instead of this, a weeklg DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximise the opportunities while cutting down the cost of doing that.

I think your suggestion would be good for those on a low budget, say $50 per week. They can withdraw their bitcoins to their wallet within a month or after they accumulate more bitcoins to save on withdrawal fees instead of withdrawing every week. Of course they can choose a trusted and reputable centralized market to avoid many unwanted risks, but they can also choose which step they want most.

There is no pressure to withdraw every purchase or withdraw after a few purchases, it really depends on how they do it. The bottom line is, bitcoin should not be held on an exchange for the long term because of the risks.

[Sim_card]

Exchange is the first place a new investor needs to store his bitcoin in the beginning because it is from exchange that he will buy his bitcoin from and because he is new in bitcoin and have the money to start buying immediately, he will leave his coins in an exchange and gradually when his bitcoin size is increasing due to regular DCA purchases, he can learn on which wallet that he can use to keep his bitcoin safe. You should also know that since he is a new investor and getting started immediately is the best no matter how little the amount is, he needs to pile up his bitcoin in an exchange so that it can get up to $500 and above before he can send it to his self custody wallet that is best for him.

If not for high transactions fees I see no reason why you should buy and accumulate Bitcoin in an exchange because it can become vulnerable to hacks, we should know that exchanges is not the best place to store our Bitcoin no matter how little it is because the security of our Bitcoin should be taken at utmost priority. I know that $500 may not appear too big for you but to some people it is especially when they think of the amount in Fiat they used to buy such quantity of Bitcoin so there is no amount that is too small to lose but as for me, so far as I have long term hodling targets, i will prefer to move my Bitcoins to self custodial wallets immediately after making the purchase. Exchanges are risky to keep one's bitcoin and leave till you have accumulated enough, don't forget that there were previous cases of exchanges crashing and a lot of people that had assets in those exchanges lost everything so we ought to give our assets maximum protection which is to seek for self custody wallets even though the asset may be very little, it's better to lose part of your assets as transaction fees than lose everything to exchange platforms.

Your idea of wtihdrawing your Bitcoin from an exchange to a self custody wallets is not bad but your reasoning ability looks a bit childish because how can you buy a small unit of Bitcoin and then you immediately withdraw it from an exchange to a self custody wallet? Isn't that stressful like making withdrawals all the time and considering the fact that someone who is using the DCA strategy will need to be buying Bitcoin at regular intervals which means if we are to buy your idea then Everytime we DCA we also withdraw it from the exchange it was bought from and transfer to a non custody wallets. Accumulating upto $500 to $1000 in an exchange isn't that too risky even though the amount may appear risky for you to leave in an exchange but it also depends on the amount you DCA that will tell how long it will take you to accumulate up to $1000 before moving it out of the exchange wallet to a non custody wallets.

Okay just consider the transaction fees it will take each time you try to withdraw a small unit of Bitcoin from your exchange to a non custody wallets, so it looks unprofessional even if a newbie may not understand this but it is still important for them to know because those amount that would be lost as transaction fees can still be retained if you consider accumulating a larger amount before withdrawing out from an exchange.

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee. Before you can accumulate up to $200, you will have $220 worth of bitcoin and when you are withdrawing your asset, the fees won't be much of a concern to you because you have already made provision for it. You can't take because of withdrawal fee and expose your asset to possible risk. If the exchange get hacked you will regret and would have preferred paying the withdrawal fees that would have been more lesser than losing your entire assets. Little fees shouldn't make us fall victim rather let's plan ourselves to accommodate the withdrawal fees from onset.

I don't think that it is a wise decision because you will end up spending carelessly on transaction fee that is not your priority because you feel that you have enough to waste. I will say that is a poor financial management system on accumulating bitcoin. Your priority should be buying and building your bitcoin investment in the best way that it will not affect your profit from your bitcoin investment in future.

You should also know that it is not everybody that can afford 5usd for only fee and some new investors might only have $10 or $20 as their discretionary income will you say that this new investor should not start his bitcoin journey because he cannot afford 10% for every bitcoin he purchases weekly because he should not keep his coins in an exchange temporarily. I don't think you are right, let's not see keeping our newly purchased bitcoin in an exchange for it to reach a good amount before transferring it from an exchange as a big problem if not it will become an unnecessary problem that might prevent new investors to get started immediately or it can also slower the rate  at which will reach our bitcoin target.

Have you also considered future transaction fee when you want to transfer your bitcoin when the right time comes in future. Those your many small inputs will make all your sacrifice and consistent DCAing to achieve that amount of bitcoin you accumulated overtime a waste of time and resources because your transaction fee will be fucking high and can consume majority of your profit due to improper withdrawal plan in future. It is not just by buying and accumulating but also you consider the challenges in future of your investment so that you don't end up in regrets for investing in bitcoin.

Do you mean that if bitcoin blockchain is congested due to those garbage inject in the blockchain, you will still be able to be buying bitcoin weekly and transferring to your private wallet constantly, I doubt. Which makes your idea not cool for me to digest.

[Zanab247]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee.

I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So lile I said before, instead of this, a weeklg DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximise the opportunities while cutting down the cost of doing that.

Well, there are some people who don't care about the fee in their withdrawal as long they are going to achieve something in their weekly withdrawal, but the profit will not be big compare to people that withdraw monthly to reduce the gas fee to accumulate profit.  I don't know why some people are very comfortable with weekly or monthly withdrawal in the industry because it will not help to achieve your target on time base on the high fee involved but if you can continue accumulating your portfolio for a long period of years, it will help you to earn plenty profit and reduce your gas fee.

But making it a long period of years before withdrawal, it will make it more better for you not to be charging big money on gas fee because you know you are about to withdraw plenty, so that it will bring big money no matter the gas fee that will occur in the cause of the transaction.

[Stable090]

For me I would say it is important to study about security measures before investing in Bitcoin, but it doesn't mean that one should apply for online or offline course to only study much about security measures and how to buy and sell bitcoin before starting to invest.

If you don’t learn about wallet security before investing, then don’t be surprised that you will end up losing your bitcoin. Wallet security is one of the things we are not supposed to joke with when investing, because it’s really going to be bad losing bitcoin after holding for a while, so we shouldn’t joke with that.
 
Also, if you are learning about wallet security from anyone, make sure you don’t use the wallet that was used to guide you in storing your bitcoin. Don’t trust anyone, the person might have secretly stolen your seed phrase and will be waiting patiently for you to store bitcoin before stealing from you. So the best thing to do is, after learning, create a separate wallet for storing your bitcoin and properly store your seed phrase.
 
When storing seed phrase, it should be completely stored in a place where there is no internet connection, it should be completely stored offline. If you leave your seed phrase in a place where there is an internet connection, you are at risk of losing your bitcoin at any moment.

[Justbillywitt]

Let's say your weekly DCA is $50 and you know that withdrawal fee will be needed you can make it $55 and use the $5 to cover the fee.

I don't think it is a smart move to use 10% of your capital as withdrawal fee, that is too high for me. Instead of doing that, you could buy weekly but withdraw monthly, this way you will be cutting down the fee to 2.5% of your capital. If you continue to spend $5 as withdrawal fee for a $50 weekly DCA, that will amount to $260 annually as fee which is too high for such a low capital. So lile I said before, instead of this, a weeklg DCA and monthly withdrawal will be better.

What I'm suggesting to you is also what I'm doing because we have to maximise the opportunities while cutting down the cost of doing that.

If you read my post carefully you will understand that I said the $5 addition is just something you are adding up to make up for your withdrawal fee and I also made mention that you shouldn't withdrawal weekly unless you are buying up to $200 and above. If you buy $50 weekly you have to leave it till it gets to like $200 which is up to 4 weeks making it a month. So if you are adding the $5 for that 4 weeks you are likely going to have $220 so when you are withdrawing the withdrawal fees will be charged from the extra money you added to your initial weekly allowance for DCA, the fee might not get to the $20 depending on the exchange and their charges, there is every possibility that the extra $20 won't be exhausted on the withdrawal fees so the rest will still go to your holding. The essence of this is to make sure that your weekly DCA target is not shorten because of exchange fees. The choice of how many times to withdraw to a non custodian wallet solely lies with the investor, if he chooses to do it weekly if he can afford the fees that's fine, but if he can't he can do it monthly as you have stated above. But the most important thing is to get our assets off custodian wallets. We can't take because of withdrawal fees and lose our bitcoin.

[Ruttoshi]

it will help you to earn plenty profit and reduce your gas fee.

It is called transaction fee and not gas fee. Etherum is gas fee.

weekly or monthly withdrawal in the industry because it will not help to achieve your target on time base on the high fee involved

It depends on the amount of bitcoin that you are buying, if you are using lump sum from $500 and above, you can transfer it to your exchange immediately and that is when the transaction fee is normal and not super high. But if you are using little amount just keep stacking it in an exchange till it get up to $500 before transferring to your private wallet.

But making it a long period of years before withdrawal, it will make it more better for you not to be charging big money on gas fee because you know you are about to withdraw plenty, so that it will bring big money no matter the gas fee that will occur in the cause of the transaction.

You are getting it wrong mate, we are talking about how to prevent you spending too much on transaction fee in future due to too many small input made during your accumulation phase  by keeping your coins for a short period of time for it get to a certain amount before transferring it to your exchange and not using an exchange as your wallet for long term because it is not safe to do that. This is because exchanges are in charge of your keys and when your funds are in exchange, it is not yet yours until you have withdrawn it.