Best piece of advice to anyone going into bitcoin

[batang_bitcoin]

In fact, the DCA model will indeed prevent you from panic selling, but additional capital is also very necessary, otherwise how can we consistently accumulate every drop of BTC if we don't have sufficient funds as you mentioned above.

When you are focused on DCA, that will make you not think of any panic selling. Because your sole game is to just accumulate whenever you have money and you won't mind the price. And that's even going to give you that happy vibe when you see the prices go low because it's more Bitcoins for you.

Regarding profits in BTC, it will show itself because I am sure that everyone can record it, even if they only buy $20 using the DCA technique, regardless of the price increase or decrease.

There will be profits on it for sure but the logic here is that the lower capital you have this time, the lower profit you'll get as well. So it will reflect to how much you have been accumulating and as long as your goal is to accumulate as many as you can or even at least 1 BTC over time, you don't have to think of one time profits until you haven't reached that yet.

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[tygeade]

Bitcoin is obviously an expensive investment, most especially if you are trying to accumulate the whole piece of it. But if you are trying to do dollar cost average regardless of the amount, you will not feel the expensive price anymore as you are only investing every now and then the amount that you can afford to lose.

However, the only thing that you should worry is that if you are not patient enough to hold for that long term. DCA will be useless if you suddenly resort into panic selling everytime the market is crashed due to market price correction.

In fact, the DCA model will indeed prevent you from panic selling, but additional capital is also very necessary, otherwise how can we consistently accumulate every drop of BTC if we don't have sufficient funds as you mentioned above.

Regarding profits in BTC, it will show itself because I am sure that everyone can record it, even if they only buy $20 using the DCA technique, regardless of the price increase or decrease.

Many people make too many mistakes and DCA would allow people to have a sense. The biggest issue in the bitcoin world is that when the price is going down, way too many people are selling, the whole reason why it keeps going down is people keep selling, so when you get to start doing DCA, that means you are going to buy when it goes down. It basically prevents the whole drop thing, because when price goes down, instead of selling and losing money, you are buying and making profit later on.

This is why it's such a great method and I do suggest every newbie to do it. I have been buying for years, and sometimes I sell because I need the money, but rarely have I ever made a loss, it's been like once or twice at most, rest of the time, even though I urgently needed the money, I was always in profit. That shows you that DCA is such a good method that even at times when you shouldn't sell, it may actually still be a profit for you and that's a great thing.

[majeed]

Bitcoin is obviously an expensive investment, most especially if you are trying to accumulate the whole piece of it. But if you are trying to do dollar cost average regardless of the amount, you will not feel the expensive price anymore as you are only investing every now and then the amount that you can afford to lose.

However, the only thing that you should worry is that if you are not patient enough to hold for that long term. DCA will be useless if you suddenly resort into panic selling everytime the market is crashed due to market price correction.

In fact, the DCA model will indeed prevent you from panic selling, but additional capital is also very necessary, otherwise how can we consistently accumulate every drop of BTC if we don't have sufficient funds as you mentioned above.

Regarding profits in BTC, it will show itself because I am sure that everyone can record it, even if they only buy $20 using the DCA technique, regardless of the price increase or decrease.

Many people make too many mistakes and DCA would allow people to have a sense. The biggest issue in the bitcoin world is that when the price is going down, way too many people are selling, the whole reason why it keeps going down is people keep selling, so when you get to start doing DCA, that means you are going to buy when it goes down. It basically prevents the whole drop thing, because when price goes down, instead of selling and losing money, you are buying and making profit later on.

This is why it's such a great method and I do suggest every newbie to do it. I have been buying for years, and sometimes I sell because I need the money, but rarely have I ever made a loss, it's been like once or twice at most, rest of the time, even though I urgently needed the money, I was always in profit. That shows you that DCA is such a good method that even at times when you shouldn't sell, it may actually still be a profit for you and that's a great thing.

DCA is good. Buy low, sell high, consistency matters. Well, steady wins the race. But it's not universal. Yes, it works for many, but don't exaggerate. Markets are unpredictable animals. It stops the "whole drip thing"? No way. Risk is reduced, but it's not a cure. Easy to preach "hold, hold, hold" but real life? Messy. It's okay to require cash. Balance is vital. You did great, congratulations. Not everyone plays with the same hand. Some people don't have a safety net; they're walking on thin ice. Every choice is crucial for them.
For beginners, DCA is a good strategy, but it's not enough. More than a currency, Bitcoin is a movement. Take charge, be your own bank. But power brings accountability, right? No approach is invincible, so educate yourself, recognize the risks, and remember. Keep humble, smart, and most importantly, your goals. Bitcoin represents a decentralized future, not just an investment. Friends, that's priceless.

[SmartCharpa]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Purchasing bitcoin with a small amount of money is a great strategy. We shouldn't assume that this will be sufficient for us to begin investing in bitcoin, as we can profit from it as well. Some people get upset when they can't afford to hold even one bitcoin, believing that this is the minimum amount required to become an investor. However, with the little we do have, we can always start with something different. Some newbie still struggle to understand how they can begin investing with just $10 at this stage. However, if we are patient, we can certainly begin with any amount we can afford, we just need to have faith because many successful investors began as small investors.

It will be best to start our investment we hope to make someday rather than waiting till we have a lot of money. If we wait, we might be wasting our opportunity because time waits for no one. Instead of wasting money on unnecessary things or other expenses that we cannot need.

[tbterryboy]

While I agree that doing DCA is a good way to accumulate Bitcoin over time, I don't think that a person can become a multi-millionaire by investing $10 or less in a week even if they do it for 10 years. I did the math, one will roughly accumulate $5,142 worth of Bitcoin in 10 years if they invest $10 every week. Considering that the price of Bitcoin will keep going up during this time, the amount of Bitcoin will keep getting smaller over time compared to the starting amounts.

And, for one to become a multi-millionaire or even a millionaire, Bitcoin will have to reach the price of around $1m, and even after that, a person holding $5,142 worth of Bitcoin wouldn't become a millionaire but they will roughly have a few hundred thousand dollars. So, what you said isn't logical unless a person is investing a lot of money every week or month.

[Hewlet]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

maybe you could put it this way.

"Instead of saving a particular amount of money from your salary after receiving your pay, why not use the amount you've assigned for your savings in buying Bitcoin such that anytime you salary comes in, you can just send the stipulated amount for the purchase of bitcoin so that way, instead of your money remaining dormant in the bank, it yields returns on a regular bases."

If you give someone that's into monthly or weekly savings this kind of advice, it would be easier for the oerOj to opt into bitcoin investment.

[Y3shot]

This is good if someone has a sustainable source of income and where the day-to-day expenses are not way too higher than the income.
Secondly, this requires a patient and a discipline mind to be able to achieve this goal. DCA is easier to say than done because of financial challenges we might face along the line and sometimes would be reluctant to buy Bitcoin because of this unexpected problem that would arise, or sometimes we may even lose our jobs and be tempted to sell our Bitcoin to solve our problems, So we must have a good plan on ground for funds to achieve this goal.

One of the Challenge people go through when investing bitcoin is low income,  some people have interest of investing bitcoin but the low income is a huge limitations to invest. The best way to be be able to meet up investment in bitcoin is to get another source of income because with the daily problems which money is needed to solve it, it can be very difficult meet up to invest bitcoin but if their is another source which money comes in I think it won't be that difficult to invest bitcoin.

[lizarder]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Any advice will be useful when someone knows what Bitcoin is and how they can run it. Life in this world is not just about investing and even though Bitcoin is one of the best investments, not everyone can get involved in it. This speaks to how someone familiar with Bitcoin knows how to utilize it and the DCA pattern you are referring to will probably be used as the easiest way for people to accumulate purchases on a regular basis.

But back to individuals who intend to get involved in investing and most importantly know how to be responsible when involved in it and don't rush into investing before understanding the correct method. Increase your knowledge and try to invest responsibly and it will be much better than taking the opportunity to purchase a much larger amount.

[Ndabagi01]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Bitcoin does not impose any restrictions on what you can or cannot buy, or on how much you can buy. But, if you can, try to hold for a long time in order to reap the benefits later. It is possible to become a millionaire in bitcoin investment after 10 years, but if you are greedy and allow it to enter you, you will lose a lot of money in this space. Bitcoin is viewed as a safe haven investment by many; if you've done your research and believe so, you can get in now while it's still early.

[freedomgo]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Bitcoin is a high risk and expensive asset. So one really finds it hard to buy the whole bitcoin because of its highly expensive value. Hence, buying it in a small scale basis is more advisable so you won't feel the burden of buying or investing all in. You can do it weekly or monthly, it depends as to when your income comes in your wallet. But one thing is certain, through DCA, you will achieve a single whole bitcoin in time. That works for me and might work for others as well.

Save so you can invest. That's the basic rule prior to investing. And always do what is right, invest on an amount that you are comfortable of losing.

[eightdots]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Bitcoin is a high risk and expensive asset. So one really finds it hard to buy the whole bitcoin because of its highly expensive value. Hence, buying it in a small scale basis is more advisable so you won't feel the burden of buying or investing all in. You can do it weekly or monthly, it depends as to when your income comes in your wallet. But one thing is certain, through DCA, you will achieve a single whole bitcoin in time. That works for me and might work for others as well.

Save so you can invest. That's the basic rule prior to investing. And always do what is right, invest on an amount that you are comfortable of losing.

We need to save to invest. Many people still spend unnecessarily and miss investment opportunities. Buying things you don't need prevents you from saving, and when you don't save, you won't be able to see opportunities such as investment. First of all, those who are deficient in this regard need to change their behavior.

The DCA method, which is generally applied, has made many people happy in investing. Among the recommendations to be given, it is a method that an investor can apply without difficulty. After a certain period of time, the importance of this method becomes more apparent.

[Silver005]

I think the best piece of advice for anyone going into Bitcoin is to do their research and to learn as much as possible about the technology and the ecosystem. It's important to understand how Bitcoin works, the potential risks and rewards, and to make an informed decision before investing any money. I would also recommend talking to people who are already involved in the space and learning from their experiences. Finally, it's important to remember that Bitcoin is still a relatively new and emerging technology, and there is still a lot of uncertainty and risk involved. So it's best to approach it with caution and to not invest more than you can afford to lose...

To elaborate further, I think it's important to understand the basic concepts of Bitcoin, such as the blockchain, cryptography, and decentralization. It's also important to understand the potential risks, such as volatility, regulation, and security. In addition, I think it's important to be aware of the scams and fraudulent activity that is prevalent in the cryptocurrency space. Finally, I think it's important to understand the potential rewards, such as the potential for long-term growth and the ability to control your own money without relying on banks or other third parties. All of these factors should be taken into consideration when deciding whether or not to invest in Bitcoin....

[Orpichukwu]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

This pattern could have been helpful; in fact, it was helpful over the weeks ago, not until the ordina madness started again and the fee has seen its all-time high again.
 
If the amount you mentioned is to be bought at any time, the fee alone to cover up that transaction is going to take the whole purchase unless the person has decided to be accumulating his bitcoins using a centralised exchange, and when the amount is big enough to cover the fee, he won’t feel the $2-$10 fee that will be deducted from the amount being withdrawn.
 
If not for the main time, unless my money is up to $50-$100, I don't think I can still consider buying bitcoin using the DCA method and still be withdrawing it down to my private wallet on a daily basis.

[Winterfrost]

In fact, the DCA model will indeed prevent you from panic selling, but additional capital is also very necessary, otherwise how can we consistently accumulate every drop of BTC if we don't have sufficient funds as you mentioned above.

When you are focused on DCA, that will make you not think of any panic selling. Because your sole game is to just accumulate whenever you have money and you won't mind the price. And that's even going to give you that happy vibe when you see the prices go low because it's more Bitcoins for you.

I believe you were trying to say that when one is focused on DCA, it won't make the person panic and sell their Bitcoin. Yes, that is true. With DCA, an investor is free from thinking about the current prices of Bitcoin. No fear of volatility but peace and calmness in their strategy. You don't have to look at the price often unless there is an intention to sell. An investor who is Dcaing does not have the mindset of selling so soon. Its either he is holding for two or three years or a decades because I know that there are some who are holding for a very long time.

[Solokan]

yes, the dca system is a good way to collect bitcoins and of course only money that is ready to be lost is worth putting in bitcoins, in my opinion op we can become millionaires by buying btc as long as we save it for the future for example investing in btc for more than 10 years But of course you have to be prepared for the risks posed by BTC. because usually the crypto world is always full of drama. but in my opinion, in dca it would be better to buy at least $100 because remembering that the cost of Bitcoin has been expensive lately, such as from the wallet to the exchange, so in my opinion it would be better to at least buy btc with $100 because with big money of course the profits will also be big and of course if you invest In BTC, if you use big money, you will get big profits and of course we won't think about transfer fees from the wallet to theexchange because the profits we get are big. But of course in this case the decision is in their own hands. and in my opinion dca is not the only way to buy btc because there are still other ways, for example buying btc when there is a price drop.

[bettercrypto]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

You can only start buying Bitcoin on the exchange starting at 10 dollars, not below this amount. That's what I know. But the advice I can give is that 5 years from now, it's better that we save Bitcoin, so at least it's sure that at that time you will have savings accumulated because of Bitcoin.

Then, after 5 years, you will gradually save Bitcoin again, or if you have extra money, you can also buy another cryptocurrency besides the Bitcoin you are saving. That's how prudent people are: just save as long as you have the opportunity to do such things.

[fredericktaylor]

It's a good strategy to buy bitcoins regularly because I think it's better to collect the money you earn every week and buy it every month. Because the Bitcoin transaction fee for buying now is very high now, so if you buy every week, the transaction fee amount will be much higher.  And if you buy $100 or $200 worth of bitcoins once a month, the transaction fee will be lower than every week. The best way is to deposit bitcoins regularly, this way will help the investor but the current moment is not favorable for regular investors due to high transaction fees.

[boty]

Buy a little bit of bitcoin every week don't care if it's a $1, $5, $10, $100, figure out what you can afford every week and buy it, get rid of unnecessary expenses or whatever you can think of getting rid of and spend it on bitcoin
5 to 10 years if you buy some every week you will be a multi millionaire

Bitcoin does not impose any restrictions on what you can or cannot buy, or on how much you can buy. But, if you can, try to hold for a long time in order to reap the benefits later. It is possible to become a millionaire in bitcoin investment after 10 years, but if you are greedy and allow it to enter you, you will lose a lot of money in this space. Bitcoin is viewed as a safe haven investment by many; if you've done your research and believe so, you can get in now while it's still early.

We can invest whatever amount we can afford in Bitcoin and if we can do it consistently of course this is very good because we cannot know for sure when the price of Bitcoin will be high. It would be better if we could hold it for a long period of time to be able to get advantage, when someone chooses to invest in Bitcoin of course they have to really understand it well because if they don't understand it of course we won't be able to take advantage of the right moment to be able to buy in the amount we can afford.

[JunaidAzizi]

We can invest whatever amount we can afford in Bitcoin and if we can do it consistently of course this is very good because we cannot know for sure when the price of Bitcoin will be high. It would be better if we could hold it for a long period of time to be able to get advantage, when someone chooses to invest in Bitcoin of course they have to really understand it well because if they don't understand it of course we won't be able to take advantage of the right moment to be able to buy in the amount we can afford.

This method is very effective for everyone and special for the beginner. If you don't know what to do then just come and start the DCA method it will give you more profits and experience with time.  We see many people in our daily lives hold misconceptions about bitcoin that if its price is high then it's a time waste for the poor person because its price is high and poor people can't afford it. Bitcoin is that thing that everyone can hold but still, many people are engaged with it and the reason is this DCA method.  It's not a bad thing that you are poor but remaining in this situation is bad and if you are working on yourself investing a small money you can afford per week or month and earning profits it will change your life day.  So don't be afraid and start DCA now if you want a better life.

[Shamm]

Do you think it's a good idea to invest $100 a month in bitcoin? Because the price is high and I'm afraid I won't get enough results... 

If $100 is too big for you then you can minimize it by slowing or lesser the amount of your  investment which is the best thing is you can invest your existing money. even though the price is too high for now but still it's a good time to buy cause there's a chance that the price will go up higher and higher for this upcoming weeks.  In short this Tim is not yet ended so we can make more profits by buying some Bitcoin's.