This is my plan.

[Z_MBFM]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

This is a very good plan. But it's even better to hear that even if your salary is $300, it only costs you $100 per month to live in your country. In this case, about two-thirds of your money is saved. So in this case keeping $50 per month in crypto will not be a problem for you. on the other hand DCA strategy will also be adopted. If you implement this plan it will bring you a better future.
But before investing in crypto the first thing you must have a good understanding of is choosing a good secure wallet. Which will allow you to hold crypto without any fear. In this case Electrum can be a good choice

[Ale88]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Right now bitcoin price is at a very good level, maybe it will go down a little further but, in my opinion, any purchase below $30k is great. Regarding Electrum, that would be a hot wallet, you must be very careful, if I were you after a little while, when you have purchased more bitcoins, I would make the effort to buy a cold wallet, in that way you are safer. Best of luck with the DCA!

[so98nn]

Looks good but you have to be very consistent. Well, Bitcoin is a world where peeps get started with huge motivation, sometimes from valid sources and sometimes out of thin air. They really think they would go and lock Bitcoin for the next 5 years but usually, many break apart when they see Volatility is a real bitch in the world of Bitcoin. Peeps start selling off below their buying price, and some start FOMO actions during a hyped market.

I hope your plan does add up all these events. You should clearly make plans about what would be your reaction to such crazy events. Specially look after halving. It's coming next year and things gonna get either ugly or beautiful. The fact that we have no idea what would happen makes it a more fun investment in terms of Bitcoin. Anyways, be long-term holder, good luck for making millions.

[Cookdata]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Is that a mistake or you don't mean the latter where you said you don't want to rush or you are confuse?

I will assume you want to start investing in bitcoin and it's a great decision that you know how bad is to keep your bitcoin in centralized exchanges, don't ever do that because not your keys, the bitcoin is never yours. The best is to get a hardware wallet but I'm not sure if you can afford that though but it's more safe if you keep your bitcoin in a hardware wallaet. Alternatively, electrum is not a bad idea, download your electrum from the official website and set up the wallet and generate seed phrase, make sure you back up the seed phrase in a safe place you can always remember. Generate a wallet address, copy it and be sending any bitcoin you buy monthly, with time you will be accumulate more of it.

Just some Tips:
-Don't keep your bitcoin on any exchange for any reason.
-Don't share your private keys or seed phrase with any one.
-Make sure the wallet is encrypted with a password so that no can access it incase they have access to your device or PC.

[tjtonmoy]

I think if you can afford to put $50 through DCA, then you can obviously afford a hardware wallet. Electrum is the most reputable wallet in the market or crypto world for saving Bitcoin, but if you want the maximum security, then I would always recommend a hardware wallet. As you have said that your monthly income is $300, and you are willing to put $50 every month through DCA I really like that idea but if you ever face any difficulty putting $50 in your monthly investment then you can always lower it because in Bitcoin investment there is no minimum or maximum limit. Make sure to take care of your personal stuff first and then put your money into Bitcoin. As you have already said that Bitcoin is not overnight quick money scheme, so you know it well. That's why if your target is a long-term investment plan, then you can always put less amount. But that's up to you. If you can manage your daily life and then put $50 in investment, then I am sure in the long run you will make a great profit.
Only few months left for the next bull run. You are doing a great job accumulating Bitcoin through DCA. So good luck to you. Not a professional financial advisor, so make sure to do your own research before investing. If you think you are good with your plan, then you should carry on.

[CryptopreneurBrainboss]

while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things.

The plan you just explained is not a bad plan, $50 from your $300 salary to invest in Bitcoin is about 16.67% of your salary and I don't see that as too much to invest monthly in Bitcoin. But while you plan to invest that amount, make sure you're comfortable investing that amount without it affecting you expenses. It isn't about how much you invest in Bitcoin but make sure you're comfortable investing that amount and it's your spare money that won't unstable your expenses if the market doesn't give you profits instantly. Now is the perfect time to start investing if you haven't started already because we're still in a bear market and the price of Bitcoin is still very affordable.

I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

For long term investment, hardware wallets are the most recommended but your choice of using electrum wallet isn't bad provided you're still a beginner and not investing too much into the market and can also take precautions measures to ensure that the device you'll be using don't get compromised. Electrum tick all the box for an ideal bitcoin wallet for holding except it isn't a hardware wallet and that's what you'll need for storing your Bitcoin offline and putting the security of your coins in your hands. You don't need to update us when you buy your Bitcoin, prioritize your privacy because we don't know who's online watching you.

[Zanab247]

It's easy to plan like this but to make it reality is the problem OP. you can start saving that $50 per month through out the year but at the end when you are about to use the money to invest in BTC and the price is high in a way you can't try to buy BTC from the market than to wait for the price to depreciate before you can buy,and something happen that will make you to spend all the money. Don't wait until you gather all the money before you can invest in BTC, but you can start using that $50 or $100 to buy BTC to test yourself to know if you will be able to hold long or not before you will plan to increase the capital when the price is low, and that is the best time many BTC users prefer to buy and continue holding till the price of BTC reach $80k before they can sell to make profits.

[tabas]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

That seems to be a credible plan but can you afford to live with the remaining funds out of those investments that you're planning to do? $50 from a $300 monthly salary is around 16% of the entirety. It seems not high for most but with your wage, it's quite high. Well, I think you have already assessed your way of living and this is really an affordable plan that you can do. You have also given the other plans you're about to do and that's commendable to you. I am looking forward to your first purchase and that's just the start of your journey, you haven't officially started but if you will follow this plan, we're all on this journey and we all going to make it even if the market is sometimes brutal to everyone.

[aylabadia05]

[snip]
I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Making this bitcointalk forum a medium for finding out about Bitcoin, I think you are in the right place. Investing in Bitcoin will always be a good thing to do even if you are still planning to invest in Bitcoin the way you want to do it. Choosing Bitcoin to invest in is a choice and not a compulsion.

By trying to learn Bitcoin along with learning to know where to store Bitcoin, which is called a wallet, is a basic thing that anyone should do before immediately jumping into investment activities.
Electrum is the best Bitcoin storage wallet for you to use after receiving Bitcoin from your purchases.
Also learn more seriously about how to use a wallet properly and correctly, even if the Electrum wallet you use is good, it can cause Bitcoin to be lost due to hacking.

[rachael9385]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

The plans you have to invest in Bitcoin are good plans. I am happy to see you do as you just said whenever you are ready to invest in Bitcoin. However, since you are using an electrum wallet, it is a kind of saving wallet for you to hold your coins as long you are not storing millions of BTC in it.

$50 from your $300 will remain just $250. Can you make good use of the remaining balance ($250)? Well, I believe that before you came up with this plan you had already set everything in place. However, if
You constantly save $50 every month, and if you keep accumulating for more years, like 5 to 10 years, you will get big profits. Although it is not an easy task, I believe you can do it if you keep to your word.

[lalabotax]

Basically, the better our knowledge about Bitcoin or crypto as a whole, the better our preparation will be when we enter the world or the crypto business. because there are many things that are high risk in the crypto business, not only in how or what coins we invest but also where we should store them, how to buy them, and what they should be like so that we avoid scammers or various frauds that very often occur in crypto world. equipping ourselves with good knowledge from reading various news information, knowledge from various sources and learning from various existing experiences both from ourselves and others and then collaborating within ourselves will be much better for our preparation. so at least we have equipped ourselves. However, our main awareness is to invest in Bitcoin. At least we understand that Bitcoin is much better than investing in altcoins which still have a higher risk.

Bitcoin is indeed the best for investment, both long and short term, especially when we want to accumulate Bitcoin for long time holding, in my opinion that is a very good decision. as long as we can still manage all the risks and can face whatever obstacles come our way.

[D ltr]

If a plan has been prepared, it is better to implement it immediately. because sometimes it's just a plan but in reality it doesn't come to fruition, I'm proud that you can live on 100$ every month because in my country that kind of money is not enough to make ends meet, especially if you have a family.
Investing $50 in crypto is also quite big, especially now that BTC has a low value, for hardware wallet problems, like the others, Electrum could be a good choice.

[Mr.suevie]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Right now bitcoin price is at a very good level, maybe it will go down a little further but, in my opinion, any purchase below $30k is great. Regarding Electrum, that would be a hot wallet, you must be very careful, if I were you after a little while, when you have purchased more bitcoins, I would make the effort to buy a cold wallet, in that way you are safer. Best of luck with the DCA!

I think with the basic plan start up I actually think electrum would be ok and it's seem that particular wallet is all the rage here in the forum and many users have come to have faith in it. DCA is best because it's very simple to carry out and it helps you accumulate without being stressed of thinking what going to happen if you don't actually have something to survive on because before ever you think of DCA you might have structure out what you are going to and how to go about yourself with expenses and your DCA planning strategy.

[gunhell16]

I don't see anything wrong with what you're planning; it's fine, and if you can start it now, that's great. If I look at your salary of $300 a month, it can be said that when you do that, you have something called self-discipline.

And I also noticed that you think in advance about your future; at this point, this attitude that you also show is a good quality in an investor. Just continue the DCA that you think about Bitcoin, and for sure, two years from now, you will reap good from the accumulation that you can do when the bull run season itself arrives.

[Sexylizzy2813]

I don't see anything wrong with what you're planning; it's fine, and if you can start it now, that's great. If I look at your salary of $300 a month, it can be said that when you do that, you have something called self-discipline.

OP has a better plan and a direct one at that, but can he put his self discipline to test? One thing is to say something and another is to do it. And all he said seem like he hasn't decided if he wants to start up this journey or not. With the way the market is I think is best to make a move rather than having a shakey decision making, with that $300 per month I feel he should go for it already.

[TribalBob]

You already have a plan, you just have to be self-disciplined and your commitment to implementing your plan is finalized, because the future now has to be thought about early, and your decision to invest in BTC is very correct. By purchasing at a cheap price during the bull run, you can get a profit from your previous investment.

[Ultegra134]

The OP's plan seems decent enough. He's both saving for emergencies, a must in our everyday world, and investing at the same time. $50 per month may not seem much now, but you might be able to pull off a higher amount in the future. I don't know where you're from, but I'm understanding that $50 is quite a fair amount of money. You're making a reasonable start in cryptocurrencies that you can advance through this forum. You're still new; however, if you stick to it, rank up, and contribute, you'll have fair chances of entering a signature campaign and having a significant flow of extra income.

[CryptoHeadlineNews]

I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin,

That's a good plan you have got mate, because instead of keeping money in banks that will depreciate in value with time, it's far more better you save your funds in Bitcoin which is likely to appreciate in time, and if only you could be disciplined enough to save just $50 monthly, in 2years time, you are sure of having $50×24= $2400, which is quite a good sum of money, and unfortunately if the price of Bitcoin happens to skyrocket higher after next halving, I assure you of likely making almost double that price.

[oktana]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Without commitment you won’t start, without consistency you won’t finish. Great idea and quite enlightening as I developed ideas for my own self too. However, please ensure to have emergency funds as this is one of the challenges that most investor have. They invest in Bitcoin and when something comes calling, they are forced to sell which greatly affects their consistency, hence ruining the whole plan. I know you mapped out some percent to handle your needs, make provisions for unforeseen needs.

[adzino]

I am still here to gather little knowledge about Bitcoin, I don't need enough knowledge, I can invest while learning Bitcoin, but the thing there is I am shuffling my self, so I will not be tangled while I am accumulating Bitcoin, I have come up with a plan of using the DCA method to accumulate a $50 monthly, my monthly payment from my job is $300, if my expenses will collect up $100 then $50 can be kept in crypto (Bitcoin) and another $100 for emergency funds then the remaining $50 can also be kept for personal things. Now is the best time to buy Bitcoin, I am not in a hurry to start investing Bitcoin, when the time comes for me to invest nothing will stop me to invest in BTC, as Bitcoin is not something I will start today and get rich tomorrow that is why I don't want to rush in to it. I will use electrum Bitcoin wallet to save my coins because I have learned so far that the electrum wallet is a safe wallet for any investors that what to hold Bitcoin for long, so I will be using it to hold my coins when I buy some Bitcoin, I will update when I buy my first BTC.

Few points based on what you said:

1. Yes, you can investing while "learning" about bitcoin, but make sure you know what you are doing. You don't need to learn about the stuffs like cryptography or how blockchain works, but you need to know how to use a wallet, back backup and keeping it safe. If you don't know these, chances are high that you will end up losing your coins.

2. Sure, $50 a month isn't bad, but since your average salary is like $300, you might want to think again. But as long as you think it is find to put 20% of your total income in bitcoin, then sure go ahead.

3. You should stop thinking about getting rich in few days. You are definitely not getting "rich tomorrow" even if you start today.