Bitcoin Investing - DCA

[Poker Player]

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

You seem to be doing well. Cash in the bank should be no more than 6 months of expenses for unforeseen arises.

Apart from that you can have sinking funds, for example if you plan to change your car or take a trip, save for that.

And then the rest to invest. Obviously in this part of the forum we are inclined to have it all in Bitcoin or most of it and forget about shitcoins. But another thing you can do is diversify out of the crypto market, for example by contributing £50 a week to a good index fund like the S&P 500. Anyway, you seem to be doing well.

[Ale88]

Buy now with all the money you have that you do not need instead of investing in altcoin, waiting for it to pump and trying to buy Bitcoin. The price may currently be high, but it will inevitably be much lower than what the price will be in the coming months, so investing now in Bitcoin may not be a high-risk investment. Compared to 4.75% interest

Thanks for the reply - in your opinion would it be beneficial for me to split between the two coins or just invest 100% of the spare funds into BTC? i'm a newbie obviously but from what i have read so far it can't be too bad of an idea?

If I were you, I would do 75-80% BTC and 20-25% ETH, more or less those are the percentages. I read that some people would buy only bitcoin, and I understand that, but you also need to consider that at the current values it's easier for ETH to do a 5x rather than for bitcoin. It's just an example but during a bull run many altcoins have a better return than bitcoin, of course oftentimes it's not easy to buy the right ones, but I wouldn't worry about ETH.

That is something i'm certainly considering, but will build up my BTC for a couple of weeks I think before reducing the % slightly to accommodate the purchases of ETH. I just don't want to start purchasing other coins following the hype, as I did previously.

That is a good choice if you don't want to take risks. Of course, as I said before, there is a very good chance that several altcoins will outperform bitcoin, but in that case you would need to buy several altcoins, some will do good, others don't, and at the end you also need to stay in top of many of them. I would buy some altcoins only when I actually have some extra money that I can, in a certain way, throw away without any consequence. Otherwise I just try to get more satoshis.

[Bartello]

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

You seem to be doing well. Cash in the bank should be no more than 6 months of expenses for unforeseen arises.

Apart from that you can have sinking funds, for example if you plan to change your car or take a trip, save for that.

And then the rest to invest. Obviously in this part of the forum we are inclined to have it all in Bitcoin or most of it and forget about shitcoins. But another thing you can do is diversify out of the crypto market, for example by contributing £50 a week to a good index fund like the S&P 500. Anyway, you seem to be doing well.

Good morning. Thanks for the suggestion.

I believe I'm doing fairly well in terms of taking responsibility for my finances. I have searched on the platform i use and S&P 500 is called SPX500 or SPDR S&P 500 ETF? I have browsed through the app to check on what else is available for investment and will certainly put this into consideration - but like anything I do, I will research it thoroughly.

I'm constantly looking at and amending my budget sheet to highlight ways of utilising my money better - When I first set up my budget I was gobsmacked at how much money I wasted on sites like Uber Eats, Amazon, Ebay and just stuff I purchased because I could   but nowadays, that money I myself consider wasted gets invested in other areas that could build a comfortable or at least a less stressful future for me financially. I view my cutbacks as short term sacrifices for long term gains - I don't go without, but choose more budget friendly options &  I no longer smoke, or drink alcohol which saves me 100's each month.

Thanks for taking the time to contribute to my thread, and have a blessed day.

[EluguHcman]

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?.

There is always some bit gambling at some edges of businesses, so at this nature, I would advice your channel most of your Invests towards the best reliable and most profitable source which is Bitcoin you can then have some  to other desired.
Also, of you have got this capital (money) currently at hand, then I can tell that logically, you don't need to buy your coins on the weekly structured basis and you thought about. The strategy of sequential purchase in Bitcoin or AltCoins is either considered of the investing fund for a capital or accumulating of the coins is either not available yet or that the Bitcoin investors is looking up to the volatility nature of the market to flop and then can Invest to accumulate or invests .
I am to say that the market price is encouragingly appreciating impressively so I would suggest you go ahead and pump your fund there in purchasing of your Bitcoin and take advantageous chances about her current bullishness of the coin Bitcoin else your weekly target May have you some sorts of regrets why you never bought and accumulated more now that the markets price values was roaring high. So no need of the weekly purchase. If the ETH is approved then the flop of the Bitcoin price is not going to come today's not tomorrow.
This why the stair step price values is consolidated awareness because the market demands and supplies of cryptos is sentimentally in a comparison of its investors action.
You can look at the Coin market cap to track the Cryptos prices. https://coinmarketcap.com/currencies/bitcoin/#markets

[traderethereum]

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

It is a good decision to use 70% of your remaining salary. But you have to recalculate before you actually use it so that there are no mistakes. Moreover, you still have to prepare some money for something unexpected.
Most people don't expect anything unexpected or they would use a lot of money to invest in bitcoin. They think they can make huge profits in the future.
It's true that they think like that, but they also have to estimate how much money they need to survive and meet their daily needs.
If you are ready with everything, including having allocated funds for each need, then you can use the money to invest in bitcoin.

I have been putting 100% of what is left from my outgoings directly into a savings account for like 5 months, so I have a decent chunk saved at the moment and quite literally sit down each week and plug in the numbers into a spreadsheet I made to work out my budget for the following week (my take home varies depending on how many hours I work), so now I plan to split as above. My thinking behind this is that my BTC investment is for the long term, but my savings are for the mid-long term that I can withdraw from etc - It may be true that in the long term the % gained from BTC could surpass that of my bank savings, but I want to be disciplined with both and give myself options and not struggle day to day.

That's great if you want to spread your investments over the medium and long term. Many investors also do this so they can increase their investment amount.
What you have to think about is finding other investments or you are already interested in investing in altcoins and I see you have already invested in XRP. It is a good choice but you have to be calm because the movements of altcoins are more unpredictable because they follow the movements of bitcoin.
Having several investments for the medium and long term can provide its own benefits. Often these medium term investments can exceed long term investments but that depends on the coin you choose.
And you can be disciplined in what you do so you will be able to get maximum profits in the future.

[retreat]

It depends on you how you split your investment, whether 50/50 or 60/40. But my personal advice is that I prefer to invest more in Bitcoin compared to Altcoins, maybe 80/20 would be better. But that's my personal way, every investor has a different view on investing and maybe you have a different view and just believe in what you want to do. The most important thing is how you can manage your investment and understand the risks of investing in crypto.

[Bartello]

For now, I will stick to using 70% of the money I have left over from my salary to purchase BTC and put 30% into bank savings to use if something unforeseen arises.

It is a good decision to use 70% of your remaining salary. But you have to recalculate before you actually use it so that there are no mistakes. Moreover, you still have to prepare some money for something unexpected.
Most people don't expect anything unexpected or they would use a lot of money to invest in bitcoin. They think they can make huge profits in the future.
It's true that they think like that, but they also have to estimate how much money they need to survive and meet their daily needs.
If you are ready with everything, including having allocated funds for each need, then you can use the money to invest in bitcoin.

I have been putting 100% of what is left from my outgoings directly into a savings account for like 5 months, so I have a decent chunk saved at the moment and quite literally sit down each week and plug in the numbers into a spreadsheet I made to work out my budget for the following week (my take home varies depending on how many hours I work), so now I plan to split as above. My thinking behind this is that my BTC investment is for the long term, but my savings are for the mid-long term that I can withdraw from etc - It may be true that in the long term the % gained from BTC could surpass that of my bank savings, but I want to be disciplined with both and give myself options and not struggle day to day.

That's great if you want to spread your investments over the medium and long term. Many investors also do this so they can increase their investment amount.
What you have to think about is finding other investments or you are already interested in investing in altcoins and I see you have already invested in XRP. It is a good choice but you have to be calm because the movements of altcoins are more unpredictable because they follow the movements of bitcoin.
Having several investments for the medium and long term can provide its own benefits. Often these medium term investments can exceed long term investments but that depends on the coin you choose.
And you can be disciplined in what you do so you will be able to get maximum profits in the future.

By nature, I'm very risk-averse so always ensure I research to the point it becomes an obsession lol, but I've wasted so much money over the years that I wished I had put to better use, but we can't regret the past, can we? Anyhow, it's about what I do now moving forward, which I want to make count. I have sat and amended my budget sheet to go over the numbers and make sure I'm not leaving my self short, as I really want to remain disciplined with my investments and not withdraw ANY funds over the short term, unless of course something unforeseen happens in my life that exceeds the money I have in my bank savings.

Another poster suggested looking into the S&P 500 as a form of diversification, which again I will research before committing myself, but I also have a plan to purchase some alts whenever some extra cash becomes available (my working week usually ends between 50-55hrs which my budget works from, but during busy periods can often exceed 60+ hours, so I will treat myself as a reward and put the remaining money into investments.

[Inwestour]

That is a good choice if you don't want to take risks. Of course, as I said before, there is a very good chance that several altcoins will outperform bitcoin, but in that case you would need to buy several altcoins, some will do good, others don't, and at the end you also need to stay in top of many of them. I would buy some altcoins only when I actually have some extra money that I can, in a certain way, throw away without any consequence. Otherwise I just try to get more satoshis.

You will never be able to decide to invest as much money in altcoins as you invest in Bitcoin, because Bitcoin is the most reliable investment that you will not have to worry about. You can allocate some amount to altcoins, in the end you will divide it into several parts and buy different altcoins, some of them will grow better than Bitcoin, some will grow worse, but if among these altcoins there is not one that will show super growth, then this idea will not work sense. Altcoins are a lottery of sorts, you may or may not get lucky.

[EarnOnVictor]

Hi All,

I currently have between £300 - £400 left over each week from my salary in which i have been transferring in to a savings account with 4.75% interest, but recently i began to invest small weekly amounts into the popular alt coins (£50-£100) as i'm a fairly risk averse person by nature. I have recently sold those coins in my portfolio at break even or at best with small gains and re-invested the money into BTC & ETH.

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

i currently hold 0.096* ETH & 0.0057* BTC and have been seriously considering investing more but not sure if the amounts i have available make this worth while?

It's a good thing you're doing dca in Bitcoin and ETH. It's sure that if you do it every week, your savings will grow a lot when the halving comes, and after the halving, it's a bull run for sure. Keep doing what you are doing. I hope I'm like you, who earns that amount.

But I hope you also see other cryptocurrencies that have potential, like ETH and Bitcoin, increase in the market and can also give you profit in the coming times, especially during the bull run.

It's all about investments, we should be proactive about it and find the best means that will not only earn us money but also be the best practices for us. I love the DCA approach really, it has helped me not to miss out on my investment in Bitcoin and others. If not for this, I would have missed out because I didn't start the investment so accurately, and when I eventually started, Bitcoin was selling at the time last year, however, this didn't stop me, I was just pumping the money on a weekly and monthly basis due to the time of the certain DCA I used. This is why I started with the "best practice" remarks, you might have 2-3 or more DCA plans on the same investment package, it doesn't matter. What I did was to have one with a weekly injection of the money, while another is a monthly injection and the last one is being done randomly.

With these, I was able to have a sizable amount of Bitcoin in my wallet and as been nice with the way the asset is behaving so far. However, the next style I would do now is just to inject money into Bitcoin without strict adherence to the DCA plan. How do I do this? I will do it simply by sending all my spare money into my wallets and I will make this frequent, but this will not go to Bitcoin alone but to other cryptocurrencies I own as well. This means that I will not be saving as much money in my bank account as I used to do and any spare money must enter my wallet regardless of the price of the coins/tokens I am buying and I will keep this working for over a year. This might sound crazy but I have a big trust in cryptocurrency within a year. We should know that without risks, there can't be gains.

[Bartello]

Hi All,

I currently have between £300 - £400 left over each week from my salary in which i have been transferring in to a savings account with 4.75% interest, but recently i began to invest small weekly amounts into the popular alt coins (£50-£100) as i'm a fairly risk averse person by nature. I have recently sold those coins in my portfolio at break even or at best with small gains and re-invested the money into BTC & ETH.

My plan moving forward is to use £150 of the money available to me to purchase BTC & ETH every week with the long game in mind, but was looking for advice really on how i should split the money % wise between the two assets? 50 / 50?

i currently hold 0.096* ETH & 0.0057* BTC and have been seriously considering investing more but not sure if the amounts i have available make this worth while?

It's a good thing you're doing dca in Bitcoin and ETH. It's sure that if you do it every week, your savings will grow a lot when the halving comes, and after the halving, it's a bull run for sure. Keep doing what you are doing. I hope I'm like you, who earns that amount.

But I hope you also see other cryptocurrencies that have potential, like ETH and Bitcoin, increase in the market and can also give you profit in the coming times, especially during the bull run.

It's all about investments, we should be proactive about it and find the best means that will not only earn us money but also be the best practices for us. I love the DCA approach really, it has helped me not to miss out on my investment in Bitcoin and others. If not for this, I would have missed out because I didn't start the investment so accurately, and when I eventually started, Bitcoin was selling at the time last year, however, this didn't stop me, I was just pumping the money on a weekly and monthly basis due to the time of the certain DCA I used. This is why I started with the "best practice" remarks, you might have 2-3 or more DCA plans on the same investment package, it doesn't matter. What I did was to have one with a weekly injection of the money, while another is a monthly injection and the last one is being done randomly.

With these, I was able to have a sizable amount of Bitcoin in my wallet and as been nice with the way the asset is behaving so far. However, the next style I would do now is just to inject money into Bitcoin without strict adherence to the DCA plan. How do I do this? I will do it simply by sending all my spare money into my wallets and I will make this frequent, but this will not go to Bitcoin alone but to other cryptocurrencies I own as well. This means that I will not be saving as much money in my bank account as I used to do and any spare money must enter my wallet regardless of the price of the coins/tokens I am buying and I will keep this working for over a year. This might sound crazy but I have a big trust in cryptocurrency within a year. We should know that without risks, there can't be gains.

Makes sense, and i believe as time goes on i will adjust my numbers to allow myself to invest more into other areas other than my bank savings.

 My bank has a feature that rounds up the change from card payments with a multiplier, so I've setup what is called a pocket in the app for this very reason - every time I make a purchase it rounds up the change to the next £1 with a x2 multiplier along with any cash back and daily interest from my savings account goes into the pocket which then goes towards purchasing extra BTC.