DCA NA THE BEST STRATEGY FOR NEWBIE IN ACCUMULATING BITCOIN

[Lida93]

you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.

If you no get emergency funds, then e go Dey difficult to hold bitcoin for long time be that now, because if problem happen, if emergency money no Dey, you no go get choice than to sell your bitcoin, and use money solve problem wey Dey, but if emergency funds Dey, then we no go even think about the investment wey we get incase if problem Dey.

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

[Hardyrobust]

you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.

If you no get emergency funds, then e go Dey difficult to hold bitcoin for long time be that now, because if problem happen, if emergency money no Dey, you no go get choice than to sell your bitcoin, and use money solve problem wey Dey, but if emergency funds Dey, then we no go even think about the investment wey we get incase if problem Dey.

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency  fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

[Lida93]

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency  fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

All of these details you don elucidate about nah something wey normally I get full awareness of but you it seem you never get the point I dey try to make with my question. As I talk for the first comment say I no dey doubt the place of emergency funds for long time investment but my question be say, base on adoption of bitcoin way we the clamour about, but don't we think that this idea of having emergency funds aside for those wey their source of income (salary) for the month fit only reach to take start building their portfolio and also feed from it but no fit manage reach to keep small part as emergency funds. Won't this context be a discouragement for them to go on with bitcoin accumulation ?

[Callido]

you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.

If you no get emergency funds, then e go Dey difficult to hold bitcoin for long time be that now, because if problem happen, if emergency money no Dey, you no go get choice than to sell your bitcoin, and use money solve problem wey Dey, but if emergency funds Dey, then we no go even think about the investment wey we get incase if problem Dey.

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency  fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

This your explanation really make sense, emergency funds na bettter back up plan when investor decide to invest inside Bitcoin. While the investor go chose to follow the DCA pattern na first to watch out him income and how him go use allocate monthly or household expenditures. Any investor wey choose to pattern with DCA suppose monitor him monthly expenses then decide how much go dey available to use they buy at that interval, e no dey extremely compulsory to allocate 30,000 according to your example because we all know how the economy dey, if alone no be big salary earners we no say even 50% no go reach us feed family so we fit just put am between 10%,15% or 20% on a normal standard when be say we really appreciate the effort to build our portfolio inside of Bitcoin.

[Yucky]

DCA no be new thing for the crypto space wey people dey use to take gather bitcoin for forum. Na very nice starter wey dey help investors to take gather plenty bitcoin and keep while them wait for the big bull run to come for them to take cash out from their investment or keep for a longer time to increase their long term profit. Newbies wey wan accumulate bitcoin and get the idea of DCA, e go better make them stick to am because na only that method be the sure way wey go help you gather bitcoin whether your funds small or large for a start. DCA na general term for this forum now and almost everyone knows and sabi how them take they utilise am to gather bitcoin.

True DCA is a common method that you use to accumulate Bitcoin and it's for the long run. Personally, it is helpful because I just put my mind out that every month this is the money I'm putting into Bitcoin, and I just remove my eye from what is going on in the market, whether it's dipping or not. I just keep accumulating Bitcoin over seven seven months to one year till I see a stable profitable market price or something like that if I wish to trade. This method helps me to eliminate the anxiety of the market dip and stuff. When you have a price you want to buy bitcoin at, let's say, $500 and you break it apart, $50 every week, it now becomes easy to pay.

So it makes it easier to accumulate Bitcoin and  It removes that fear of 'it's expensive, I can't afford it' By the time you keep putting in $50 or  $100 every week before you know it, you've gotten to the price that you want. So it eases tension in accumulating Bitcoin. It helps you not, budget your income allocation properly and grow in your Bitcoin investment. So yeah, we hear the word DCA very well from the forum, and it's an advisable strategy to try.

[laijsica]

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency  fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

All of these details you don elucidate about nah something wey normally I get full awareness of but you it seem you never get the point I dey try to make with my question. As I talk for the first comment say I no dey doubt the place of emergency funds for long time investment but my question be say, base on adoption of bitcoin way we the clamour about, but don't we think that this idea of having emergency funds aside for those wey their source of income (salary) for the month fit only reach to take start building their portfolio and also feed from it but no fit manage reach to keep small part as emergency funds. Won't this context be a discouragement for them to go on with bitcoin accumulation ?

Yes there may be some confusion among the investors about the emergency fund but while investing he should remember that he should keep this fund only for real emergency needs as almost every people may have this fund even before investing. Experts advise that the purpose of having an emergency fund is to keep you more secure while investing and to encourage you to save more.

Another positive aspect of increasing the amount of emergency fund is that if you get bearish time for correction while doing Bitcoin DCA regularly, you can buy a lump sum of Bitcoins with floating cash which will increase your holdings. Also, each savings strengthens your underlying holdings and tends to reap multiple profits through patience during price rises.

[PremiumcryptoHub]

DCA no be new thing for the crypto space wey people dey use to take gather bitcoin for forum. Na very nice starter wey dey help investors to take gather plenty bitcoin and keep while them wait for the big bull run to come for them to take cash out from their investment or keep for a longer time to increase their long term profit. Newbies wey wan accumulate bitcoin and get the idea of DCA, e go better make them stick to am because na only that method be the sure way wey go help you gather bitcoin whether your funds small or large for a start. DCA na general term for this forum now and almost everyone knows and sabi how them take they utilise am to gather bitcoin.

There are various strategies to invest Bitcoin in cryptospace but DCA is considered to be the best strategy among them. I say this method is the best because now even low income people can invest through DCA method only if they have a proper plan. With proper planning, not all of the money you earn is used for household expenses. Some money is saved thinking about the future. We can freely invest with that extra money i.e. saved money. If we continue to invest in this way, it will be seen that after a long time the money that we used to deposit as FIAT is giving us more profit in Bitcoin investment. Since investing can be started by purchasing a small amount of Bitcoins through DCA, it is definitely possible to prolong the investment if there is a source of income for the investment, proper initiative and planning.

[Proty]

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency  fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

All of these details you don elucidate about nah something wey normally I get full awareness of but you it seem you never get the point I dey try to make with my question. As I talk for the first comment say I no dey doubt the place of emergency funds for long time investment but my question be say, base on adoption of bitcoin way we the clamour about, but don't we think that this idea of having emergency funds aside for those wey their source of income (salary) for the month fit only reach to take start building their portfolio and also feed from it but no fit manage reach to keep small part as emergency funds. Won't this context be a discouragement for them to go on with bitcoin accumulation ?

I understand wating hardyrobust they explain give you, na if u want use #50 start ur investment in bitcoin and e happen say na only this #50 be ur last card, out of this #50 u fit use #20 start ur investment and put the remaining one for emergency fund. Some weeks u fit still skip to buy bitcoin and to refill ur emergency fund. so this emergency fund no fit be discouragement to anybody wey want invest in bitcoin be it low salary earn. Even if na #20 u dey  earn and u done use #15 feed ur self and other expenses, the remaining #5 no invest all for bitcoin , u fit use #2 and put #3 for ur emergency fund.so any money wey remain with u after u done do all ur expenses no go put all for ur bitcoins, divide the money and put some for bitcoin them the remaining one for emergency fund.

[SuperBitMan]

The DCA strategy is a very nice strategy it helps to accumulate gradually, when I started Bitcoin investment I didn't know about DCA strategy I got to know about the strategy when I joined this forum and it has been really helpful to me, DCA strategy is very much useful when you are into a long term Bitcoin investment and not when you are into a short term Bitcoin investment the reason why I said so is because in DCA strategy is all about Accumulating little by little is not like lump sum strategy where you use a huge amount of money to buy Bitcoin and then hold I know very well that some people uses good amount of money to purchase Bitcoin weekly or monthly in the DCA strategy but is best for a long term Bitcoin investment.
Some people wait for a dip so they can accumulate with less price but that's not good at all because you may be waiting for a dip and no dip happens or it takes years before it happens so is best you accumulate using the DCA strategy.

[MainIbem]

The DCA strategy is a very nice strategy it helps to accumulate gradually, when I started Bitcoin investment I didn't know about DCA strategy I got to know about the strategy when I joined this forum and it has been really helpful to me, DCA strategy is very much useful when you are into a long term Bitcoin investment and not when you are into a short term Bitcoin investment the reason why I said so is because in DCA strategy is all about Accumulating little by little is not like lump sum strategy where you use a huge amount of money to buy Bitcoin and then hold I know very well that some people uses good amount of money to purchase Bitcoin weekly or monthly in the DCA strategy but is best for a long term Bitcoin investment.
Some people wait for a dip so they can accumulate with less price but that's not good at all because you may be waiting for a dip and no dip happens or it takes years before it happens so is best you accumulate using the DCA strategy.

Any anyone that still has doubts about the DCA method is not ready for Bitcoin investment because at some point on their investment journey, they'll definitely need to implement that strategy to help them recover lose overtime. I'm glad you've come to realize the benefits of this forum, I'm pretty sure lots of us never knew the DCA not until we learnt about it here and that's one good thing about this space there's lots to learn about Bitcoin and Cryptocurrency at large. Some investors might think it's better to wait for the dip to accumulate Bitcoin maybe due to fear of price drop but anyone who's used the DCA method in accumulating would understand that the dip is not a barrier to it and they'll definitely recover their lose so far the DCA is involved and they have stable income to keep up and moreover investors never can tell how much they would've accumulated while in the process of playing the waiting game so instead of waiting for something that might take a long period to occur it's best to buy at any entry and use a good method like the DCA to minimise lose.

[CryptopreneurBrainboss]

True DCA is a common method that you use to accumulate Bitcoin and it's for the long run. Personally, it is helpful because I just put my mind out that every month this is the money I'm putting into Bitcoin, and I just remove my eye from what is going on in the market, whether it's dipping or not. I just keep accumulating Bitcoin over seven seven months to one year till I see a stable profitable market price or something like that if I wish to trade. This method helps me to eliminate the anxiety of the market dip and stuff. When you have a price you want to buy bitcoin at, let's say, $500 and you break it apart, $50 every week, it now becomes easy to pay.

You have broken everything down to how it becomes easy to understand. DCA no be do or die affair. The least $10 self fit be you accumulating capital weekly/Monthly depending on wetin you fit afford.

Before you accumulate, make sure say you no dey use money wey be say you go need anytime soon. If.you go use pressure go carry people money or the one you go need tomorrow go say you dey invest, before you know you no go get anything for savings again.

You fit no get job too and still dey accumulate based on the small small money wey you dey get from wetin you dey do but e go well pass to get a job before you begin start to dey accumulate.

For people wey no get job, you fit still invest by buying when you get better money instead of deciding to accumulate because accumulation needs a stable income first wey go fund the strategy.

[Mayor of ogba]

The DCA strategy was not only designed for newbies but for everyone interested in accumulating bitcoin for the long term; sometimes newbies can even lump sum on bitcoin to increase the size of their bitcoin even when they are consistent with the DCA strategy. All the strategies for accumulating bitcoin are good, but one of the reasons why most people adopt the DCA strategy in accumulating bitcoin is that it helps to control the emotions of investors. For instance, if you buy bitcoin and the price dips, you will not be worried or think that you have accumulated bitcoin at the wrong time or regret that you would have waited for the price to drop before you would have accumulated it because the DCA strategy has you covered and it will still allow you to accumulate bitcoin in the dip, which will make you not be concerned about buying the dip if you don't have enough money to do that.

[laijsica]

The DCA strategy was not only designed for newbies but for everyone interested in accumulating bitcoin for the long term; sometimes newbies can even lump sum on bitcoin to increase the size of their bitcoin even when they are consistent with the DCA strategy. All the strategies for accumulating bitcoin are good, but one of the reasons why most people adopt the DCA strategy in accumulating bitcoin is that it helps to control the emotions of investors. For instance, if you buy bitcoin and the price dips, you will not be worried or think that you have accumulated bitcoin at the wrong time or regret that you would have waited for the price to drop before you would have accumulated it because the DCA strategy has you covered and it will still allow you to accumulate bitcoin in the dip, which will make you not be concerned about buying the dip if you don't have enough money to do that.

DCA depositors tend not to feel the need to wait for dips in price as they tend to continue depositing bitcoins from discretionary income regardless of price. It is a universal method that is the ideal investment vehicle for people of any income rich or poor. Yes, with this strategy Bitcoin investors can avoid getting too emotional during price rises because they invest with the goal of accumulating for the long term. One of the advantages of the DCA strategy is that it will show an average price over a combination of different purchase prices if your portfolio is consistently accumulated potentially yielding higher profits as your stash grows.

As a long-term Bitcoin investor it is important for you to keep a backup fund while continuing to deposit Bitcoins with the DCA strategy as this fund will protect your valuable investment in case of any emergency and can lead to a large holding in the long run.

[Cryptokuus]

DCA Na the best strategy for newbie to be able to accumulate enough bitcoin. As newbie wey never get idea about bitcoin, this method is less stressful compare to other method. In this method you no need to time the market before you  buy, all you need Na to ready your money ,make plans how you want take dey invest your money, weda Na weekly or monthly basis. Depending on how your income take they come. You go also plan how long u want hold the bitcoin bcos this method no be watin u want do for months, Na year matter be this, like 5_yrs or more depending on ur plan.
 DCA no be for people wey want make quick gain , so if u no fit get patience this method is not for you. why I said this method is best for newbie, be say as a newbie wey never get much idea about bitcoin to go do lump sum fear go dey your body  as newbie but with DCA you will be buying the bitcoin small, small until u done get enough for ur portfolio. this strategy go give u enough confidence, you can buy bitcoin at any time, even the price is up or down. so as a newbie u don't have to wait for the price of bitcoin to go down (DIP) before u start your bitcoin investment, DCA is there for u. lastly, in order for not to trade ur bitcoin at the early stage of your investment, you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.

I have really learnt a lot about the dca strategy  and am going to adopt this strategy in accumulating Bitcoin just like u said op that it involves gradual accumulation  of Bitcoin, this strategy i think is good for low salary earner since dey dont  need to start with huge amount of money.also this method is not for traders as they may not likely make enough profit from this strategy.