Foxy1 (OP)
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January 30, 2021, 08:30:36 PM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc *Vary from btc into alt coins *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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tinopener
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January 30, 2021, 08:38:20 PM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc *Vary from btc into alt coins *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Buy at least a few other asset classes to hedge your bets e.g. shares, bonds, commodities, property....... vintage wine, fine art etc ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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CarnagexD
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January 30, 2021, 08:59:21 PM |
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One thing I did in the past which clearly worked for me but was very hard to keep in check for is DCA (Dollar Cost Averaging). This strat literally helps you do all the things that you want in your investment journey, but you would need to follow and study the market religiously to make the most out of the strat. Nevertheless at a major point in my investment journey it made the stress bearable considering I gain huge amounts, but now that bitcoin is at a safe spot, I just hodl and buy some coins, that's it.
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█▀▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄▄ | | . Stake.com | | ▀▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄▄█ | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | █▀▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄▄ | | . PLAY NOW | | ▀▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄▄█ |
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tinopener
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January 30, 2021, 09:14:52 PM |
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One thing I did in the past which clearly worked for me but was very hard to keep in check for is DCA (Dollar Cost Averaging). This strat literally helps you do all the things that you want in your investment journey, but you would need to follow and study the market religiously to make the most out of the strat. Nevertheless at a major point in my investment journey it made the stress bearable considering I gain huge amounts, but now that bitcoin is at a safe spot, I just hodl and buy some coins, that's it.
Yep, cost averaging always good especially if you can automate it i.e. a regular buy on a specific day once a month. Either that or at least make sure you buy according to known market trends. For example, I think twice about buying shares on a Friday afternoon as people tend to be in a good mood, and prefer to buy on Monday morning when the dread of the upcoming week has set in ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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verita1
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January 30, 2021, 09:58:31 PM |
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"Don't borrow to buy btc."
There are different opinions on this. It is always good to buy when the price is low and if you can take all the risks. Also this year is different from every bitcoin year. It has reached its maturity and a great expectation has been created that we will probably never see the price of bitcoin at its lowest levels again.
As we look at the other side of the coin. If risks are not taken there are no rewards.
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DannyHamilton
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January 31, 2021, 12:13:36 AM |
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*Never invest into Bitcoin more than you can afford to lose
That's good advice. I prefer, "Never hold more value in Bitcoin than you could lose without feeling devastated." Some people might be able to financially "afford" to lose a few thousand dollars, but emotionally they may become overwhelmed and devastated from a loss of a few hundred. Some people might be able to financially "afford" to lose a few hundred dollars, but emotionally they may become overwhelmed and devastated from a loss of a few dozen. Some people might be able to financially "afford" to lose a few dozen dollars, but emotionally they may become overwhelmed and devastated from a loss of a few dollars. If you're going to feel "overwhelmed and devastated" if you lose it, then you've got too much value in bitcoin. It isn't worth the risk to your health and wellbeing. *Don't borrow to buy btc
Like the previous one, this really depends. How low is the interest rate? How low are the payments? If the bitcoin were to disappear, how would you feel about the need to continue to pay off the debt? How would that debt burden effect you financially AND emotionally? *Vary from btc into alt coins
Nonsense and bull$h1t. You are already taking on significant risk and volatility with Bitcoin. There's no good reason to support altcoin trash. *Buy and trade btc in a trusted and legit platform
Trust no one. Who decides what is "legit"? How do you know it's "legit". Even if it seems "legit" today, there is no guarantee that it will still be "legit" tomorrow (or even later today). Be careful regardless of where you but or sell your bitcoins. When buying, get them out of the exchange and into your own wallet so quickly as possible. When selling, don't transfer to the exchange until you're ready to sell. Is the exchange well known? Are there any recent reports of issues? Are they regulated and/or audited? Are they insured? How is good their user security? Don't hold any more value at any one moment on any exchange than you could lose without significant concern. binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Eh. I'm not thrilled with them.
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fadhilz123
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January 31, 2021, 12:37:51 AM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc *Vary from btc into alt coins *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Number1 and number2 are connected to each other. Invest only you can afford to lose its mean use your money and never borrow to buy Bitcoin. For no3 actually is not needed, even if you all in your money into BTC, don't worry this is safe for long-term investment. And no4, this is very important, because some people see the price of the coin is cheaper and interested to buy on the exchanges. Please dont affected by cheap price
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Alucard1
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January 31, 2021, 01:14:23 AM |
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I already read this advice from many experts and yes that should be what investors should be in their mind when investing, it is a risky way of earning money so you have to accept that it is not always a win-win situation because there is still a good chance that you may lose your money from it.
Loaning money for investment is such a noob idea, you should not ever do that because just like what I have said there is no assurance that you may win so if ever that you have loaned and then lost it all then it would be a problem for you.
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Genemind
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January 31, 2021, 01:32:24 AM |
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Invest only what you can afford to lose. Recently I've been seeing a lot of posts on social media who have gone all-in with their savings due to FOMO. The Crypto market is not as friend as it may seem, it can multiply your money in a short period, but it can also lead to bankruptcy. If you have bought your BTC or any coin really cheap, the up and down movement of the market will not give you stress and pressure a lot. Don't be too greedy, set an amount when you are you going to take profit.
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Darker45
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January 31, 2021, 02:08:20 AM |
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In other words, you don't get into it without a plan. You cannot just buy Bitcoin in whatever amount and then cry over it for losing funds intended for something else more important. You cannot just buy Bitcoin without being fully aware that tomorrow your funds might lose half of its value.
So there is only one way to really make Bitcoin investment less stressful, in fact stress-free, and that is to be fully aware of what you are getting into. And by fully aware that means not just the fundamentals of Bitcoin and the benefits of Bitcoin but also the risks of Bitcoin.
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marcbitcoins
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January 31, 2021, 02:51:38 AM Last edit: February 12, 2021, 02:20:10 PM by marcbitcoins |
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*Never invest into Bitcoin more than you can afford to lose
This is one of the golden rules. Make sure you already have secured savings, retirement, and insurances then invest money that you can afford to lose. Everyone can try to be a genius at investing but no one has the magic wand. Even Warren Buffet, the world's best investor, loses money sometimes. So yes invest money that won't damage you financially but do it with your risk appetite.
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Trinx01
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January 31, 2021, 03:58:09 AM |
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Thank you for this advice, I know how risky to invest with bitcoin so I only invest the amount of money that I can afford to lose, it is the saved money that I have, instead of spending it on some other things, I'll drop it for investment. I never borrow money for investment as well cause I know how risky it is, it is better to work, earn money, save money and invest it in bitcoin than borrowing it from other people.
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Wexnident
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January 31, 2021, 04:27:52 AM |
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Can we add Not investing into Bitcoin? Kidding aside, simple terms, just don't chew off more than what you can. Always set a limit. Try to find your limit, and then set your limit even below that, so you have room to spare. Feeling that it's a bit too low? That's okay imo, winning and losing are two sides of a coin, you can lose just as much as you can think you win, and most people tend to look at the optimistic/bright side which really tends to cloud your mind.
Even in the case of borrowing money, as long as a plan was carefully set up, it's rather easy to manage it. Most people who go into debt and can't repay it are simply people who don't plan ahead, only carelessly borrowing money since they want to "see" money in their hands as quick as they can.
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Lorence.xD
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January 31, 2021, 04:35:21 AM |
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"Don't borrow to buy btc."
Makes sense in any aspect of life, do not borrow for investment unless you are part of the 1%. There are different opinions on this. It is always good to buy when the price is low and if you can take all the risks. Also this year is different from every bitcoin year. It has reached its maturity and a great expectation has been created that we will probably never see the price of bitcoin at its lowest levels again.
There will be a bear market, and we will see downs in the prices, bitcoin market is as volatile as it was in the first place so no sense that we disregard that but I agree buying at low price is the best time to buy bitcoin. As we look at the other side of the coin. If risks are not taken there are no rewards.
You can still play safe, not taking risks does not mean that you will not reap rewards, you should just know how the game works and it is up to you on how you will find a smooth riding path. My strategy for making bitcoin investing less stressful is to not think about it all the time, consider your investment as a work, you do not take work when you are having personal time, you leave it there for another day.
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█▀▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄▄ | | . Stake.com | | ▀▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄▄█ | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | █▀▀▀▀▀ █ █ █ █ █ █ █ █ █ █ █ █▄▄▄▄▄ | | . PLAY NOW | | ▀▀▀▀▀█ █ █ █ █ █ █ █ █ █ █ █ ▄▄▄▄▄█ |
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hatshepsut93
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January 31, 2021, 04:58:18 AM |
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*Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc
Your second point is included in your first point, because you can't afford to lose what you have borrowed, obviously. *Vary from btc into alt coins
This is one of the worsts advises you can give to someone in crypto. Altcoins have horrible long term performance, if you're holding them for years, you're going to either lose money or miss out on profits compared to BTC. *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Storing your coins on exchange is never a good idea, only keep a small amount there, and if you're daytrading, you'll use leverage anyway. The rest of your coins should be in cold storage.
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yazher
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January 31, 2021, 05:17:42 AM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc *Vary from btc into alt coins *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It depends on how much BTC you invest because some people have invested almost all of their assets and most of the people who invested know how the market works. It is not stressful when you used to it because that's how the market works in the first place. you need to know how quickly it changes and you need to be fast when you are about to sell your BTC, no time to waste. Most of the investors prefer to hodl it for a long time and there is the one who doesn't really care about the current situation of the market if it's not going well.
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maydna
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January 31, 2021, 06:40:23 AM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose *Don't borrow to buy btc *Vary from btc into alt coins *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I agree with what you are saying. Controlling the money to be used for the crypto investment will be necessary for every person. But sometimes, we forgot about that, and we try to break the limit that we set it up before because we think that we see the chance for us to make a bigger profit. A simple example will be people borrow money from others because they see bitcoin price jumps to the very highest price, and they think that the price will increase more after that. But the fact is the price will not just increase after hit the highest price, but it will adjust to the lower price, and sometimes, the price will not stay at that price for a long time. We already see what happened in 2017-2018 when the bitcoin price hit the ATH, and people think it will jump higher, but it is not.
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LogitechMouse
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January 31, 2021, 07:48:28 AM |
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*Never invest into Bitcoin more than you can afford to lose
Unfortunately, not all investors realize this and investors are still doing this kind of mistake. I remember a tweet that I saw in Facebook a while ago saying that he has liquidated from Doge Shorts Trading and he lost $10,000 from that recent pump. Now he is in complete regret, disappointment, and depression because he gambled on that trade and now he lost it all. Not Bitcoin though but it is the same concept as this. *Don't borrow to buy btc
TBH, this isn't a good idea because having a loan just by buying a speculative asset like Bitcoin can give you losses in some time especially if it isn't go into your way but on the other hand it isn't illegal though or prohibited. In the end it will depend on the risk of the person. *Vary from btc into alt coins
![Grin](https://bitcointalk.org/Smileys/default/grin.gif) *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I might consider this but also make a research into where can you buy Bitcoin at a lowest fee as possible. The withdrawal fees in Binance is quite high compare to others. There are many exchanges/ways to buy BTC. Its just that you need to find them ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) .
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Haunebu
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January 31, 2021, 08:01:00 AM |
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I agree with all of your points except for the altcoin diversification part. Diversifying your portfolio by investing into multiple altcoins is a decent strategy, but not as great as it was in the past due to the fall of the altcoin market.
If you still insist on investing, I suggest investing only in the top tier altcoins like Litecoin, Xrp etc and avoid less popular altcoins.
Apart from this strategy, the best way to invest in BTC in my opinion is long-term HODLING all the way. This method literally guarantees low stress as long as you stay patient and optimistic for a long period.
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Reatim
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January 31, 2021, 08:26:56 AM |
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We've been in a bull run but investing in crypto isn't that easy,it can be damn stressful..most of us are usually obsessed I.e, checking our crypto wallets every half an hour if not minutes Few ways to remove your emotion from investment *Never invest into Bitcoin more than you can afford to lose
The Ultimate Advise that i have read here in forum for thousand times i guess? or more than Lol. *Don't borrow to buy btc
The advise i Kept on telling everyone , because borrowing funds in a risky investment like Bitcoin or crypto is a double dead situation if failing . *Vary from btc into alt coins
That's a perfect trading advise , having other option is the best way to Invest. *Buy and trade btc in a trusted and legit platform i.e, binance.. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Lol Not just in Exchange but also in our Safekeeping of our currencies.
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