DCA, the most convenient way to increase your bitcoin as an investor.

[Iamgoat]

Becoming a member in this forum has really helped me a lot in my bitcoin investment especially this thread because I was able to learn a lot from you and other regular posters on this thread and I am pleased with the quantity of bitcoin that I have accumulated since then till date, and I am still accumulating regularly every week which I intend to keep doing for a very long time. I started buying bitcoin at $21k price in late January 2023.

I am happy that I am using the DCA method because there is power in it because it is small but mighty overtime.

Lately I've been participating in a lot of crypto airdops and patiently accumulating funds from there whenever they are finally listed. But unlike many who will sell of their allocated airdrops and use it to do something else , I sell my airdops and instead use the funds to accumulate my Bitcoin gradually with the intention of DCAing.

Is this a good idea at all please?

[JayJuanGee]

From when did you miss out on investing into BTC, Sim_card?  And from when did you start getting serious?  or more serious about investing into bitcoin?

Ahh..JJG, you are very early to bitcoin since you started your investment journey since 2013. I first heard about bitcoin 2017 and in 2018, I decided to know about bitcoin and I made research but couldn't get any encouraging information on how to go about my bitcoin investment because I never knew that I could start with very little amount. I got discouraged when I thought it was only through trading one can make profit from bitcoin because I know that it will be very complex and how will I go about it since I was working, so I erased the passion of knowing more about bitcoin or how to have bitcoin from my head because at that time down here in my country, it was difficult to know how to go about buying bitcoin.

hahahahaha.. Surely a lot of people have those kinds of erroneous thoughts, and really cannot really blame you for thinking like that, and surely each of us have had those kinds of mistakes in our thinking, and frequently we cannot realize the mistakes while we are making such mistakes.  Surely one of the great things is after we learn from our mistakes, then we become way more enlightened to not ONLY see a better direction, yet to see why we had been thinking wrongly in previous times, including abilities to empathize with others who may well be going through similar kinds of erroneous thinking.  Another thing many of us likely realize that we have to come to some of that enlightenment through our own passage of time, and sometimes it might help for others to show us how we are going wrong in our thinking, yet each of us still has to be ready, willing and able to accept such information... and perhaps also to change our practices, which surely is part of the power of DCA in terms of our changing our practices ends up changing our previous erroneous ways of thinking about how investments tend to work.

In 2019, a friend of mine introduced me into altcoins but I told him that I needed bitcoin if possible and he deceived me that all cryptocurrency are the same and I fell for it and run at loss after the project crashed. It was in 2021, during the bull run that I got more attracted to bitcoin and made all necessary researches which through someone I understand how to buy bitcoin and I bought my first bitcoin then but couldn't hodli because I lack the proper knowledge on how to go about my bitcoin investment journey.

Wow!!!.. you have several examples of learning experiences.. which I suppose that the more examples that you have the more you would have had learned along the way (hopefully learning the right things), and surely sometimes it can take a while to figure things out, since sometimes we will end up investing through poor sources of information, end up building up bad habits, and then psychologically we might have trouble getting out of those situations based on some psychological problems, such as sunk cost fallacies or even overwhelming desires to try to make up for our previous mistakes, which tend to be forms of gambling practices that are not so likely to work out well.

I understand and accept that  we have to try to learn from our own experiences, but yeah, we can sometimes end up with problematic mental frameworks, and Bitcoin is risky enough.. Adding on other kinds of risks that come with shitcoins that might be somewhat reliant on bitcoin's performance for them to perform, and we might never really know how or when to get out of such shitcoins, even though the scammers who are building and/or promoting those shitcoins might have better information regarding when to get in and/or out of them.

And from when did you start getting serious?  or more serious about investing into bitcoin?

Becoming a member in this forum has really helped me a lot in my bitcoin investment especially this thread because I was able to learn a lot from you and other regular posters on this thread and I am pleased with the quantity of bitcoin that I have accumulated since then till date, and I am still accumulating regularly every week which I intend to keep doing for a very long time. I started buying bitcoin at $21k price in late January 2023.

I am happy that I am using the DCA method because there is power in it because it is small but mighty overtime.

It seems that each of us are constantly learning, even though surely we can likely see points in which we have greater improvements, and still getting through a whole cycle is likely going to continue to contribute to your learnings.   I frequently tell people that they are mostly spoiled if they come into bitcoin and the trend has mostly been up (which has been the case since early 2023), so figuring out how to get through a crash (if one comes in a cyclic basis) will be part of the challenge to figure out if you have some kinds of systems in place in order to make it through such crash.. .. but yeah getting through a whole cycle and including a crash may well put us at a cycle and a half, to see where your situation might be in 2028 and/or 2029... and yeah you likely may well also be wanting to assess where you are at in the beginning of 2027 too..  Of course we don't know where bitcoin is going to be for sure at any of those points of time either, even though we might hypothesize that the trend should continue to be upwards, even though there may well be a decent number of trying times (of ups and downs) within the whole process.

[Cryptoprincess101]

From when did you miss out on investing into BTC, Sim_card?  And from when did you start getting serious?  or more serious about investing into bitcoin?

Ahh..JJG, you are very early to bitcoin since you started your investment journey since 2013. I first heard about bitcoin 2017 and in 2018, I decided to know about bitcoin and I made research but couldn't get any encouraging information on how to go about my bitcoin investment because I never knew that I could start with very little amount. I got discouraged when I thought it was only through trading one can make profit from bitcoin because I know that it will be very complex and how will I go about it since I was working, so I erased the passion of knowing more about bitcoin or how to have bitcoin from my head because at that time down here in my country, it was difficult to know how to go about buying bitcoin.

hahahahaha.. Surely a lot of people have those kinds of erroneous thoughts, and really cannot really blame you for thinking like that, and surely each of us have had those kinds of mistakes in our thinking, and frequently we cannot realize the mistakes while we are making such mistakes.  Surely one of the great things is after we learn from our mistakes, then we become way more enlightened to not ONLY see a better direction, yet to see why we had been thinking wrongly in previous times, including abilities to empathize with others who may well be going through similar kinds of erroneous thinking.  Another thing many of us likely realize that we have to come to some of that enlightenment through our own passage of time, and sometimes it might help for others to show us how we are going wrong in our thinking, yet each of us still has to be ready, willing and able to accept such information... and perhaps also to change our practices, which surely is part of the power of DCA in terms of our changing our practices ends up changing our previous erroneous ways of thinking about how investments tend to work.

One of the things that causes this kind of situation is basically as a result of lack of interest because if @Sim_card developed interest when he got to know about it, he would have come across knowing that he can buy Bitcoin with any disposable income and not necessarily buying a whole Bitcoin. There are people who started investing with little amount and before they knew it they have already gotten a whole Bitcoin and even more but just like you said, we cannot blame anyone who knew about Bitcoin in the past and not convinced to invest because those days Bitcoin was still in the dark as the awareness wasn't the way it is now and only few people got the confidence to invest and now they are part of the millionaires in Bitcoin. As days goes that's how our knowledge in Bitcoin increases and there is no need for wishful thinking anymore as the opportunity of buying with the DCA has made investment in Bitcoin become as easy as it is.

[Zackz5000]

The DCA strategy has been one of the convenient method of accumulating Bitcoin expecially for investor who's plan is for a long time purpose, it's purpose is to help an investor accumulate Bitcoin steadily little by little and hodl without thinking much of the market conditions or Bitcoin price. With the DCA strategy an investor can accumulate more Bitcoin irrespective of the price level weather dip or high and continue to hodl after setting aside his/her discretionary income so he/she won't sell out his/her Bitcoin hodling since your Bitcoin investment plan is for long term purpose.

[UchihaSarada]

The DCA strategy has been one of the convenient method of accumulating Bitcoin expecially for investor who's plan is for a long time purpose, it's purpose is to help an investor accumulate Bitcoin steadily little by little and hodl without thinking much of the market conditions or Bitcoin price

DCA investors need to be very clear with their own plans on how to apply DCA method and how to attribute their money for their life spending for many necessary things and investment in Bitcoin. They also need to have very clear idea on how long will they plan to hold bitcoins.

The HODL camp map can help them to have some idea. It suggests to hold bitcoin for 5 years and 1 month to have profit.
https://hodl.camp/

[Versatile_choice]

Yeah, DCA can be very convenient for both rich and poor but I think it's not really the most convenient way to increase ones Bitcoin but rather it depends on the investor's capacity or level of income. Those investors who uses the long sum strategy may/can not consider this strategy because DCA is a gradual way of acculturating Bitcoin therefore a lot of consistency and discipline is required or needed in other to achieve the goal.

[Odohu]

Becoming a member in this forum has really helped me a lot in my bitcoin investment especially this thread because I was able to learn a lot from you and other regular posters on this thread and I am pleased with the quantity of bitcoin that I have accumulated since then till date, and I am still accumulating regularly every week which I intend to keep doing for a very long time. I started buying bitcoin at $21k price in late January 2023.

I am happy that I am using the DCA method because there is power in it because it is small but mighty overtime.

Lately I've been participating in a lot of crypto airdops and patiently accumulating funds from there whenever they are finally listed. But unlike many who will sell of their allocated airdrops and use it to do something else , I sell my airdops and instead use the funds to accumulate my Bitcoin gradually with the intention of DCAing.

Is this a good idea at all please?

Just be careful about the airdrops so you don't fall for phishing or other forms of scam or things that might lead to you losing something of value. While airdrop can be good if it pays you, I don't not think that planning to invest in Bitcoin with money you are expecting from airdrops is something sustainable because those are shitcoins that you can not predict if they will pay you or not and when they will pay you. When we discuss the DCA method of buying Bitcoin, it actually mean something more sustainable and measurable. By this I mean, getting a reliable source of income that you can rely on or predict the cash flow. Besides, you still need to set aside some funds for emergencies if you want to be able to hold the investment for a long period of time.

[avp2306]

Lately I've been participating in a lot of crypto airdops and patiently accumulating funds from there whenever they are finally listed. But unlike many who will sell of their allocated airdrops and use it to do something else , I sell my airdops and instead use the funds to accumulate my Bitcoin gradually with the intention of DCAing.

Is this a good idea at all please?

Just be careful about the airdrops so you don't fall for phishing or other forms of scam or things that might lead to you losing something of value. While airdrop can be good if it pays you, I don't not think that planning to invest in Bitcoin with money you are expecting from airdrops is something sustainable because those are shitcoins that you can not predict if they will pay you or not and when they will pay you. When we discuss the DCA method of buying Bitcoin, it actually mean something more sustainable and measurable. By this I mean, getting a reliable source of income that you can rely on or predict the cash flow. Besides, you still need to set aside some funds for emergencies if you want to be able to hold the investment for a long period of time.

Awareness about the potential risk is important so that all of our efforts done will not be wasted. Also what action he has done is good since he manage to earn thru airdrops then use his gains to invest on other more valuable asset like bitcoin. What I can only add up is they should not feel comfortable to deal with those shitcoins since we already know what usually the trajectory of those project and better avoid to hold it since there's huge chance that those shitcoins would go zero in value.

Also people should know that it always be a good idea to invest with bitcoin if they are looking for quality and known coin to invest. Since so far there's no shitcoins would able to surpass it and usually those tokens are only for short term so they should not fall on traps set by devs since they are the one who get a lot of benefits from their projects. Invest with bitcoin then do DCA is more ideal than spending our money on nonsense things.

[Jewan420]

Just be careful about the airdrops so you don't fall for phishing or other forms of scam or things that might lead to you losing something of value. While airdrop can be good if it pays you, I don't not think that planning to invest in Bitcoin with money you are expecting from airdrops is something sustainable because those are shitcoins that you can not predict if they will pay you or not and when they will pay you. When we discuss the DCA method of buying Bitcoin, it actually mean something more sustainable and measurable. By this I mean, getting a reliable source of income that you can rely on or predict the cash flow. Besides, you still need to set aside some funds for emergencies if you want to be able to hold the investment for a long period of time.

We adopt different approaches to make investments successful. One of the happiest moments for an investor is to see his investment succeed. To make general investments successful we take care of three things, (1) Reliable source of income. (2) To ensure protection of investment funds. (3) Future planning around investment.

In any method to start investing or to continue investing, having a source of income is the most important. Especially in DCA method if you want to start investing you must first have a reliable source of income. If not then you will be considered ineligible for investment. Your unemployment situation will make you uninvestable.

When you enter investing as an investee, an important task for you will be to create an investment protection system. For this you will use a secure device and secure wallet that will only be used for your investment. It is best to use a hardware wallet. There is very little chance of your money being stolen or stolen. If you are investing in a digital wallet instead of using a hardware wallet, keep your device disconnected from the internet. The most important security measure is not to exchange wallet keys with anyone.

After starting to invest successfully you need to plan to maintain your investment successfully for a long time. It would not be wrong to say that the first condition of investing in Bitcoin is long-term investment. We can keep a fund ready as a future plan to hold the investment for a long time. Which can be used in times of danger to keep the investment intact. There are many other ways that a person can take depending on their situation.

[asarfiar]

Everybody can use dollar cost averaging (DCA) to invest in bitcoin, not only newbies but even professionals, because with this method, you will be able to be investing gradually before you know it. You will accumulate more bitcoin than you think, and if you use this method, you won’t worry about the price movement like when you use the other method of investment.

However, I think all investors will like to use DCA for their investment as it will be suitable for them, and one reason why I like this method is that you will just set aside some amount of money that you will be using to invest in bitcoin, whether monthly or weekly, so you can see that this method is very important and applicable to all bitcoin investors, not only newcomers investors.

DCA is a strategy that invests a fixed amount of assets at regular intervals. The advantage of using this DCA is that it can reduce the risk of large investments, and if you invest small amounts over a period of time, you are less likely to lose significantly if the market shows a sudden downturn.
The advantage of the DCA method over single investments and large sums of money at once is that if the market is bullish, you have the potential for higher returns.

Dollar-Cost Averaging (DCA) A time-tested investment strategy, this strategy allows an investor to periodically spread an aggregate amount of money in an attempt to reduce the effect of volatility on the aggregate purchase of a target asset.

For example let's say you want to invest $200 in Bitcoin, instead of buying all $200 BTC you can buy $20 worth of BTC every week for ten consecutive weeks.

The main advantage of the DCA method is that it takes the emotion out of investing because you buy a fixed dollar amount of assets on a regular schedule and are less likely to make emotional decisions that could damage your investment portfolio.

[tvplus006]

Lately I've been participating in a lot of crypto airdops and patiently accumulating funds from there whenever they are finally listed. But unlike many who will sell of their allocated airdrops and use it to do something else , I sell my airdops and instead use the funds to accumulate my Bitcoin gradually with the intention of DCAing.

Is this a good idea at all please?

I think that this strategy is followed by many traders who trade altcoins, and the resulting profit is directed to the purchase of Bitcoins. Of course, this method of accumulating BTC should not be called DCA, but it is also acceptable to increase your deposit.

[Odohu]

Yeah, DCA can be very convenient for both rich and poor but I think it's not really the most convenient way to increase ones Bitcoin but rather it depends on the investor's capacity or level of income. Those investors who uses the long sum strategy may/can not consider this strategy because DCA is a gradual way of acculturating Bitcoin therefore a lot of consistency and discipline is required or needed in other to achieve the goal.

I disagree with you completely because you are viewing the DCA method as something meant for only low income people even though you started your statement correctly. DCA is all about the convenience it offers, not putting the investor under pressure or FOMO, not putting the investor in any anxiety as it does not care about the entry price and most importantly, it does not create the urge for quick sell off because it makes one think more about buying than selling. Big players like MicroStrategy used the DCA method to collect large quantity of Bitcoin to earn them the position of a whale, so why would you think that the DCA method is not a convenient way to increase the quantity of Bitcoin at ones portfolio?

[Jewan420]

Yeah, DCA can be very convenient for both rich and poor but I think it's not really the most convenient way to increase ones Bitcoin but rather it depends on the investor's capacity or level of income. Those investors who uses the long sum strategy may/can not consider this strategy because DCA is a gradual way of acculturating Bitcoin therefore a lot of consistency and discipline is required or needed in other to achieve the goal.

You should change your negative thinking about DCA procedure.

One of the biggest benefits of investing in the DCA method is to minimize the volatility of the Bitcoin price and try to stabilize it. Although it is not possible to completely stabilize, most unstable conditions are reduced. There is a clear understanding in your words, where you try to say that the DCA system is more favorable to the poor. But you will be surprised to know that some of the most popular companies in the world invest in Bitcoin through the DCA method. One of the best companies in the world, MicroStrategy, Tesla, Square, Galaxy Digital and many other companies invest in Bitcoin using the DCA method. They have become whale investors by adopting the DCA method. The DCA method is equally beneficial for both the rich and the poor and it would not be wrong to consider this method as the best method for growing Bitcoins as well.

[Outhue]

Yeah, DCA can be very convenient for both rich and poor but I think it's not really the most convenient way to increase ones Bitcoin but rather it depends on the investor's capacity or level of income. Those investors who uses the long sum strategy may/can not consider this strategy because DCA is a gradual way of acculturating Bitcoin therefore a lot of consistency and discipline is required or needed in other to achieve the goal.

At times DCA feels like someone just trying to have some Bitcoin, to them it feels better to have some Bitcoin rather than none, but for me it is different, because every Bitcoin counts.

Either rich or poor you still need to apply some common sense when using DCA strategy, if you don't know about charts, like stochastic RSI, weekly candles and closes, etc you aren't getting the best benefit of DCA strategy.

If you keep using DCA strategy when there is some corrections in the movement of Bitcoin you will end up with more satoshi, and if you are rich and you can afford 1BTC on your every DCA days you can make an extra 1BTC easily if your entry is always on correction level. My point is it is still dumb to buy Bitcoin when it is skyrocketing, you are simply cutting some SATs off all in the name of you want Bitcoin now.

[Moreno233]

Either rich or poor you still need to apply some common sense when using DCA strategy, if you don't know about charts, like stochastic RSI, weekly candles and closes, etc you aren't getting the best benefit of DCA strategy.

This is another wrong thing too because all you have said pertains to technical analysis that seek to know the price and trend before entering the market. DCA does not care about the price of Bitcoin at the point of entry. If you want to apply the DCA, it does not matter if market is overbought or oversold which is what the RSI and stochastic indicates, your concern is just to enter the market with the amount you budgeted within the period you decided previously that you will be executing your orders.

If you keep using DCA strategy when there is some corrections in the movement of Bitcoin you will end up with more satoshi, and if you are rich and you can afford 1BTC on your every DCA days you can make an extra 1BTC easily if your entry is always on correction level.

You are obviously mistaking the DCA method for something else because those are not the things that defines the DCA method. I will advice you to do some refining on your knowledge of the DCA method of Bitcoin accumulation so you don't make mistakes in its implementation.