Growing both your Bitcoin and backup funds.

[Catenaccio]

There have been swings in the Bitcoin price of late, and it could rally later this month or in October, according to some experts.

Experts on media have opposite predictions about the market too. You have to believe one of two expert types, who are bullish and who are bearish, who make calls for break-out and who make calls for correction.

Yet, with the Federal Reserve poised to cut the rates of interest anytime soon, it is causing even more fluctuations.

People can see it as bullish news or as bearish news if they see it is early signal of recession in the USA. and the world.

In that aspect, while much as I would love to have both Bitcoin balanced and backup funds, let us be prepared for a drop in price. So, it makes sense to build a safety net.

If we have capital for investment and are experienced to wait for dips, with good discipline for waiting time, dips are great opportunities for purchases. Dips can help our investment with DCA strategy works better, with cheaper entry prices that will increase our profit in future.

Dollar Cost Averaging with costavg.com include exchange fee

[Kelward]

To effectively hodl Bitcoin on the long term requires strategy so that the holder can become more focused on the long term investment. Before talking about accumulating Bitcoin and having emergency funds on ground it's important to understand that your income must first cover your basic or primary needs first. If what you're earning is not enough to support your feeding, rent and basic amenities like water and electricity then you should postpone the idea of any investments unit you increase your income. When these basic needs are met then you can conveniently do your DCA method and from money that is put aside for miscellaneous expenses can cater for emergency funds.

[GideonGono]

This is why I am putting all of my excess money into crypto, rather than letting it sleep in my bank account it is better to let it grow or make money for me.
Stake it or just hold it to let the price go higher.
Of course you should also have an emergency funds in fiat so that if any unforeseen event occurs, your crypto funds wouldn't be affected.

[Rockstarguy]

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

If you are investing in Bitcoin you also have to plan to grow your backup funds because every other money that you have should be your backup funds that you use for other things. You should already have a source of income that should be the main source of your funding for your investment. When you invest in Bitcoin without considering if you can be capable of maintaining your standard of living without selling your Bitcoin, you are not going to be capable of holding for a very long time. Do not think that you have to put all your money into Bitcoin without thinking about other parts of your life. You can decide to get more jobs if you want to invest more money into Bitcoin or decide to learn how to trade very well then you can be trading to get money. With the addition of trading and your other sources of income, you should be capable to having enough money to use for anything that you need.

Having a source of income is the first thing one must think about before proceeding to make investment because it is a source of income that keeps an investment going. Sometimes having a source of income is not just enough to keep an investment going because an understanding of management of income is needed,  when people don't understand how to manage money it Normally affects one's investment. There should be good management of money to know how much one can afford to invest and how much will be just as back up fund. Being calculative on how money should be spent sustain investment and makes it to be productive.

Having a a source of income and good understanding of how money should be spent is just the secret why every investment will bring a productive result at the end.

[Onyeeze]

This is why I am putting all of my excess money into crypto, rather than letting it sleep in my bank account it is better to let it grow or make money for me.
Stake it or just hold it to let the price go higher.
Of course you should also have an emergency funds in fiat so that if any unforeseen event occurs, your crypto funds wouldn't be affected.

is not that good to put all you have in cryptocurrency because you may have Internet failure or you have issues in your wallet you invested your bitcoin, bitcoin investment is something you can do gradually not to the extent of using everything you have to invest or put in, in cryptocurrency, I'm seeing that cryptocurrency is a side hustle that we don't need to use it as a first class source of income, because its a technology and it can disappoint

[letteredhub]

The logic behind this is wrong, because nearly all of your money shouldn't be in BTC, for the rest of it to be called a 'backup' fund. There are other investments and assets you can purchase, gold, real estate, and many more you can find; your funds should be well diversified into different assets like these, alongside BTC. However, like you said, it is important to always have liquid asset, so you can live and solve necessary problems without liquidating your long term assets.

It's with this investment logic that a lot of investors have to miss other opportunities they could have benefited from in other assets. No matter how much a particular asset may be recognizable it doesn't close doors to investing into other class of assets. If as an investor you get so confident about one asset them maybe you can leave one-third of your funds there while diversifying the rest funds to other lucrative and potential assets as doing this will help reduce the overall risk of ones total portfolio.

[terrific]

is not that good to put all you have in cryptocurrency because you may have Internet failure or you have issues in your wallet you invested your bitcoin

There is no problem for me if I go 100% in Bitcoin. Internet failures are quite easy problems with multiple internet providers for all of us, that's not even an issue. And as for the wallets, I don't think that's also a problem, retrieving wallets are easy as long as you have the private keys or recover phrases.

bitcoin investment is something you can do gradually not to the extent of using everything you have to invest or put in, in cryptocurrency, I'm seeing that cryptocurrency is a side hustle that we don't need to use it as a first class source of income, because its a technology and it can disappoint

Those that have adapted and chose to source their income with crypto as their main source, they've survived all along. And at the same time, they've got holdings that are ready to be sold when the bull run approaches near to its peak. Once taken some profits, that's how you manage your fund that you won't have to rely solely to crypto anymore but as long as it works, why settle for less and leave it?

[uswa56]

To effectively hodl Bitcoin on the long term requires strategy so that the holder can become more focused on the long term investment. Before talking about accumulating Bitcoin and having emergency funds on ground it's important to understand that your income must first cover your basic or primary needs first. If what you're earning is not enough to support your feeding, rent and basic amenities like water and electricity then you should postpone the idea of any investments unit you increase your income. When these basic needs are met then you can conveniently do your DCA method and from money that is put aside for miscellaneous expenses can cater for emergency funds.

You are right, first having an income that can meet their primary needs is of course very important for anyone who is going to invest in the long term because it will be very unlikely that someone will be able to carry out their investment in the long term when they have not been able to meet their primary needs and I agree with what you said to be able to postpone their investment first when they are not able to meet their primary needs and I think They must first focus on increasing their income by working harder so that they can realize their desire to invest and will also be able to survive in the long term according to their desired investment targets.

[Easteregg69]

I do monthly savings on that one. 60% goes in ETF's and 40&% in cash.

It's from last month.

Stop deleting my posts!

I bet it's nutcase Luke Jr.

[kotajikikox]

they pause there Bitcoin accumulation and start building there back up funds also known as emergency, reserve and/or float funds and is okay, but one can still be building his Bitcoin investment and also his back up funds at same time, the only thing he needs to do is cut the percentage he was investing on his Bitcoin and then channel some to his back up funds.

What I think is that no matter what kind of investment you are going to dip your feet into, you should not always put all of your money into a single investment.

Diversification has been a concept well known among the community but people need to understand the actual importance of it. I always tend to cut my money into 50.50. 50% for investing 50% for saving.

From the 50% of the investment, I will then distribute it into different investments

[Belarge]

This is why I am putting all of my excess money into crypto, rather than letting it sleep in my bank account it is better to let it grow or make money for me.
Stake it or just hold it to let the price go higher.
Of course you should also have an emergency funds in fiat so that if any unforeseen event occurs, your crypto funds wouldn't be affected.

Patience is the strictly the answer to growing of portfolio in the market. Ready to hits top profits? The market is open for everyone, we choose profits that are profitable for us and they have good road map in the system. We have alternatives to explore in the market but on a second thought, we ought to be extremely careful with the market, because it's filled with volatility and nobody likes to end up on the losing side.

We grow bitcoin in several ways, one can easily be mining bitcoin, or simply be buying them and keeping stored in his or her portfolio. That's also consider safer because the market we know is growing when it comes to extension and also becoming popular in the world today. Crypto have saved a lot of life's out there in the real world. We know how dangerous and cruel life have been for the common man, so it's always advisable to plan before one invest, atleast to know the seasonal bull and bear changes in the market.

[Adbitco]

Does one really need to kill himself or herself over investment? Well, to me I will say no because targeting your investment to a well know asset such as gold or real estate to have peace of mind if you think Bitcoin is extremely volatile. Besides there are people who makes investment on a target of short time like when there profits is reached they sell off there investment to have their profits this could be in bitcoin or in real estate.

[retreat]

Well, having a backup is a good strategy when it comes to Bitcoin investment. you just didn't emphasize on it the way I had expect you to. You don't necessarily have to divide your Bitcoin investment to create your backup fund. What you should be dividing is your source of investments, like your salary or earnings. Then you continue investing using the dollar cost average (dca) method. Your back up fund is just like a spare money you are saving on a separate account, to cover up any emergency. This is separate from your expense funds that you use to cover up bills and maintenance. It's just only needed when there's an urgency for funds.

What you said is much easier to understand than what he said. Since the most important thing in investment is money management, one can build his Bitcoin portfolio and at the same time set aside money as an emergency fund. In this way, one can use the emergency fund when the situation is urgent and they will not disturb the Bitcoin investment that they have planned before. This is a wiser and more appropriate way for someone who wants to invest in Bitcoin, because they can minimize the chances of selling their Bitcoin assets at the wrong position and at the same time they can get emergency funds to cover their lives or for other needs.

[Orpichukwu]

What I think is that no matter what kind of investment you are going to dip your feet into, you should not always put all of your money into a single investment.

Diversification has been a concept well known among the community but people need to understand the actual importance of it. I always tend to cut my money into 50.50. 50% for investing 50% for saving.

From the 50% of the investment, I will then distribute it into different investments

In every form of investment, no matter how safe it appears, it's important to always play your own safety too, knowing fully well that nothing is entirely certain, so the 50% savings is not actually bad since we can run back to that whenever the person needs cash, but for me, I won't save up to 50% of my funds instead I will rather invest in something I can make a profit on a regular business while I diversify the rest of the funds to other things, not just digital.

[Woodie]

Secret to these crypto investments is going in slow and steady, I know we all want to catch that big spike in price that can happen any time but unfortunately the first investors of Bitcoin caught that and can't use same strategy ..and also we need to consider proper risk management because market's will not always go our way.

And besides you don't have to be aggressive investing in crypto with a huge portion from your salary, that is why we have strategies like DCA to manage this FOMO feeling...slow and steady wins the race, don't be side tracked with what you see or read online..we all get there eventually

[Zlantann]

Does one really need to kill himself or herself over investment? Well, to me I will say no because targeting your investment to a well know asset such as gold or real estate to have peace of mind if you think Bitcoin is extremely volatile. Besides there are people who makes investment on a target of short time like when there profits is reached they sell off there investment to have their profits this could be in bitcoin or in real estate.

With the rate of increase in natural disasters and conflict, even real estate investments are no longer safe havens. There was a conflict in my location and people were forced to sell their houses at a giveaway rate to flee violence. However, real estate and gold have lesser risk than Bitcoin.   

In every form of investment, no matter how safe it appears, it's important to always play your own safety too, knowing fully well that nothing is entirely certain, so the 50% savings is not actually bad since we can run back to that whenever the person needs cash, but for me, I won't save up to 50% of my funds instead I will rather invest in something I can make a profit on a regular business while I diversify the rest of the funds to other things, not just digital.

Diversification is important because it spreads the risks on investments. Some people prefer diversification of their crypto holding by buying Bitcoin and altcoins. But for me, I prefer to invest in Bitcoin and other ventures outside the crypto market. This is because Bitcoin practically influences the price of altcoins.

[Dzwaafu11]

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Exactly. Also, if you are not earning enough money that will even make it comfortable to meet your needs, then I will advise such investors to slow down with bitcoin investment because there is a lot going on in the market and it will require a very long time, so you won’t be able to leave your funds in there for a very long time. Also, don’t borrow money to invest, and don’t use the only money you have in your wallet to invest. Although there are many things to consider while making an investment plan,. 

[BITCOIN4X]

~Snip

Exactly. Also, if you are not earning enough money that will even make it comfortable to meet your needs, then I will advise such investors to slow down with bitcoin investment because there is a lot going on in the market and it will require a very long time, so you won’t be able to leave your funds in there for a very long time. Also, don’t borrow money to invest, and don’t use the only money you have in your wallet to invest. Although there are many things to consider while making an investment plan,.

Borrowing funds as primary capital to invest in bitcoin is never recommended, but some investors may have done so. Bitcoin price volatility could slow down their loan repayment, especially if the price falls. The recommended budget to invest is unused budget or saved money for the long term, they can buy bitcoin instead of holding fiat. But having a budget reserve is always something to consider so they can make some adjustments when the market is not what they expect.

[AYOBA]

If you want to make an investment in bitcoin, there are things in which you need to consider first before anything, the kind of investment you're going into, its duration, the source of fund to use for the investment and so on, if you can't afford to use money from what you have earned or the fund that belongs to you, then you don't have to force yourself in making an investment, money for your daily expenses shouldn't be included as part of your investment.

Yeah that’s just the facts about the Bitcoins investment anyone who really wants to invest in Bitcoins most have enough capital, and the Bitcoin investment is not about taken a loan or borrowing form friends is better to invest what you can afford to lose then go take a loan just to invest in Bitcoins; that’s is the very wrong idea before a person should start a investment better the a person to have *three three of what he wanted to start a investment with, so that it will know have any problems in futures everything will be moving forward smoothly that’s all about the Bitcoins investment.

[Reatim]

There have been swings in the Bitcoin price of late, and it could rally later this month or in October, according to some experts.

Experts on media have opposite predictions about the market too. You have to believe one of two expert types, who are bullish and who are bearish, who make calls for break-out and who make calls for correction.

You have to check on these "experts" and who seem much more credibility when making predictions about the market. I have seen some people brand social media influencers as crypto experts just because they make content about crypto but that is not true at all. A lot of them did not really spend time learning and getting to know the market to make the most accurate prediction possible.

Anyway, I don't think we should depend on what the media is saying that much because there will always be a difference of opinions between two sides. Just because one expert thinks this way doesn't mean his prediction is right. People will believe what they want to believe in.

If we have capital for investment and are experienced to wait for dips, with good discipline for waiting time, dips are great opportunities for purchases. Dips can help our investment with DCA strategy works better, with cheaper entry prices that will increase our profit in future.

Traditional DCA has no regard for prices. Its aim is to regularly accumulate coins over a regular period of time and eliminating any impulsive move due to emotional factors. But you can also DCA when the prices are low or at least as low as you can afford it.