new to investing in btc

[Ruttoshi]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

You do not need to stress yourself about balancing your investment. Just have a specific amount you will be injecting into your wallet weekly. Be consistent with it and pay less attention to the price fluctuations. Whether the price of Bitcoin increases or decreases, maintain the same amount consistently. That is what DCA is all about; investing consistently while ignoring what the price of Bitcoin might be at the moment. This is the method I follow, and I highly recommend it. However, if you wish to increase or decrease the amount as the price of Bitcoin fluctuates, it's still up to you.

Of course, it's an easy and simple method to stash up your bitcoin portfolio overtime provided that you are consistent and persistent with your DCA buying. It just like when ww were smal, we had a saving box that whenever anyone maybe, friends, family, visitors and relatives gives us money as a gift we put it into the saving box. Gradually, you see the money piling up and after three years when we believe that there's enough money in the box, we break it open. Honestly, we are always surprised at the huge amount of money we do see.

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

[batang_bitcoin]

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

[Tungbulu]

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

[batang_bitcoin]

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

[Tungbulu]

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

It is one thing to endure tough time, and it's another to endure or overlook emergency or critical situations. When such situations occur and there are no reserved funds or money set aside to tackle them, the only option would be to dip into your investment in order to sort out that situation. Not all hard times could be ensured, let's say for example, a man with family, if he fails to put the needs of his family before his investment, it'll become a problem because he's no longer the only one involved, it might be easier for him to endure those difficult situations by himself, but it hits differently when there are family involved.

[justinlamode]

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

If it is gambling, then it would be right to say that one must put only what he can afford to lose but for investing, especially in credible assets like Bitcoin, it is not correct to say one should invest what they can afford to lose. That statement suggesting that Bitcoin have so much risk involved which is not true. If you buy Bitcoin and hold, you will definitely make profits if you are willing and able to hold on to it for a couple of years. This, to me, is not risky as I don't see it leading to loss of money.

[Tungbulu]

You're right.
It is always best to purchase bitcoin with one's discretionary income. That is money that's leftover after taking care of other major expenses or needs, then whatever funds that's left could be used to purchase Bitcoin, reasons because since that's leftover money, there's literally no plans for that money and so it'll be hard to want to turn to that funds after already making your purchase.
Another thing is making sure you've got an available or solid emergency fund to deal with future emergencies.

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

If it is gambling, then it would be right to say that one must put only what he can afford to lose but for investing, especially in credible assets like Bitcoin, it is not correct to say one should invest what they can afford to lose. That statement suggesting that Bitcoin have so much risk involved which is not true. If you buy Bitcoin and hold, you will definitely make profits if you are willing and able to hold on to it for a couple of years. This, to me, is not risky as I don't see it leading to loss of money.

I don't quite agree with you mate. Yes, inasmuch as Bitcoin is substantial and credible as you put it, it still doesn't elude the fact that it carries its own risks too, regardless of the the amount of assurance and surety an asset (even Bitcoin) offers, there are still risks of losses and there are no 100% guarantees that you'll get back your funds.

I understand what you're trying to say here but the best way to approach any kind of investment, regardless of the amount of assurance it offers is to invest with your disposal income, in other words, funds or money you have absolutely no plans for, and this isn't only because Bitcoin isn't reliable, but because it'll help you more to remove your attention or focus on your bitcoin portfolio because you initially had no plans for that money in the first place.

[Maslate]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

This type of investment is called DCA (Dollar-Cost Averaging), according to which you will buy BTC weekly for a certain amount. To do this, you will need a steady income that you can allocate to purchases that should not run out in a few weeks because you have run out of money.

Then he needs an income every week in order to be able to allocate every week at least $10... even if it's once a month it doesn't matter if doing it every week is too hard, because some people feel that only every month they receive their salary then they can set it aside.
While there is still an additional job that earns money every week then do DCA every week then the portfolio will grow big.

You are right there, buying bitcoin isn’t really a must that you will do it every week, even once a month is fine as long as you do it on a regular basis. The key here is consistency, and as long as you are spending on the amount that won’t compromise your own allowance for survival, that will be very fine. And if you can add another source of income that will increase your budget for bitcoin accumulation, then the outcome in the future will be very great.

[Makus]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Op firstly I want to congratulate you for taking the bold step to investing in bitcoin, then my advice start from you securing a steady paying job to sustain your accumulation journey. One of the mistakes most newbies make is investing with the last bankroll they have and expect the market to go bullish under their estimated time so they can withdraw their investment and profit. Well it's possible but those who have tried it before only end up regretting not continuing their investment by getting a Job and invest from their spare cash after basic needs have been taken care of. I recommend you go for long term investment which is the best investment strategy that has been proven  profitable right from the Genesis block till date, however there is a high probability that history will repeat itself and we'll experience more ATH.

[Natalim]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Make sure you have a consistent source of income that will make it possible for your investment to grow. And while DCA could be very helpful, but regardless if you do it weekly or monthly, the key here is that you never stop adding more bitcoin into your portfolio from time to time. That’s the secret to slowly increase your bitcoin, as long as you have a consistent flow of income.

[Smartvirus]

That's right, because there are investors that are spending the money that they cannot afford to lose to invest. If they do that, it is no use that they invest and they're just making themselves play with the money that they have. It's not ideal at all but there are investors that despite their tough situation, they're still investing in Bitcoin. And they are enduring the tough life that they have and able to make it in the end. It's about sacrifice, endurance and being consistent in investing and that's why.

Though I’m not into the idea of having to invest what you wouldn’t be okay loosing, I don’t really break my head over people who do this when it comes to Bitcoin. With Bitcoin, you just know your investment is relatively very safe and all you need is just some good hodling plan to go with it.

New to Bitcoin investment wouldn’t be much of an issue if you know where to buy, how to buy and how to secure your bought coins. If you don’t really know how to ensure security of them coins, then there isn’t any reason why you should be buying until you’ve learnt that.

[taufik123]

-snip-
Though I’m not into the idea of having to invest what you wouldn’t be okay loosing, I don’t really break my head over people who do this when it comes to Bitcoin. With Bitcoin, you just know your investment is relatively very safe and all you need is just some good hodling plan to go with it.

Not only about a good and safe storage plan, but how is everyone's psychology in investing in bitcoin because we know Bitcoin or crypto it is a digital currency that has high volatility with rapid price fluctuations.
This can affect their psychology, which will then make everything they hold on to then sell just like that as prices keep falling without knowing the rise will be even crazier.

The need for education from the beginning to get into bitcoin and know how this crypto market works,
so that the investment they have is not in vain and already has a price target that needs to be achieved without fear of losing its value.

[Cityhunter34]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

First of all you need to know that Bitcoin investment is not a get rich quick scheme it required time and patience. So as a new beginner in Bitcoin investment is always good to have the besic knowledge first before thinking of investing in Bitcoin. Because investing in Bitcoin is very easy but how to hold for future purposes is the problem most new beginners are having, while because they always have this feeling that Bitcoin is get rich quick without realizing that Bitcoin is all about setting up a good source of income. Because that is the only way you can hold your Bitcoin without panicking.

[cxtreenal]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Make sure you have a consistent source of income that will make it possible for your investment to grow. And while DCA could be very helpful, but regardless if you do it weekly or monthly, the key here is that you never stop adding more bitcoin into your portfolio from time to time. That’s the secret to slowly increase your bitcoin, as long as you have a consistent flow of income.

You said it well. Dollar cost averaging (DCA) is the best way to accumulate Bitcoin when you have a consistent income stream. You should increase and maintain continuity in your sources of income. Both income streams and steady Bitcoin savings should be part of your plan. This approach can lead to a large holding after a few years (4-10 years). Long-term savings result in unit worth in your portfolio falling and more profitable opportunities.

[Hewlet]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Like every other person, getting started in your investment is not something to rush over, you don't need to do everything at the same time even though you have all the theoretical knowledge knowledge on all the investment strategies like buying using the lump sum method and buying the DIP while also trying to DCA.

It's best to stick first to accumulating with the DCA method and even if it won't be a perfect DCA method that works on a set out day and with a set out amount, just buying till you're comfortable with the market is for me the best way to get started. Except the resource is in abundance such that you can afford to DCA and still keep some aside for buying the DIP then you can actually do a combination of the different buying approach if not, it's better to get started with a single method at the start and in the long run, trying other things will then come into play.

[Zanab247]

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

There are investors that are confused about this and you're right. That if someone wants to do DCA or invest in Bitcoin, they should invest with the money that won't be problematic to them after purchasing Bitcoin. It's not for immediate use and if some emergency happens, it won't be pulled rightaway. This matter is very important because I have seen a lot of investors that have to pull their BTCs off when they're in need financially and there is no other outlet for them but to dump and sell the dear Bitcoins that they have said which is good for long term holding.

If there is, i guess they must be some newbies because majority of investors know how this DCA method work to bring out a suitable profits. Any money that will not allow you to stay long in the DCA method before you can sell your BTC, don't use such money to buy BTC, because we have heard about the down fall of some investors that borrowed money to invest that led them to frustration.

Is not their wish just that they feel selling off their BTC is the best solution for them to settle their financial crisis, because they lack the orientation of DCA method.  If you have a potential orientation of DCA method, there is nothing will make you to sell or trade all  your BTC in a short period of time.

[maydna]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Make sure you have a consistent source of income that will make it possible for your investment to grow. And while DCA could be very helpful, but regardless if you do it weekly or monthly, the key here is that you never stop adding more bitcoin into your portfolio from time to time. That’s the secret to slowly increase your bitcoin, as long as you have a consistent flow of income.

You said it well. Dollar cost averaging (DCA) is the best way to accumulate Bitcoin when you have a consistent income stream. You should increase and maintain continuity in your sources of income. Both income streams and steady Bitcoin savings should be part of your plan. This approach can lead to a large holding after a few years (4-10 years). Long-term savings result in unit worth in your portfolio falling and more profitable opportunities.

No doubt that DCA is the best way to accumulate Bitcoin especially if he have a stable income weekly or monthly. He only need to focus on buying Bitcoin weekly or monthly without thinking about the price moves. He doesn't have to feel confuse if the price is down and can let it go without hesitate.

As long as he can buy Bitcoin constantly without stopping with the right allocation money, he will grow his Bitcoin amount. Discipline will be needed in this matter so he must be able to continue investing in Bitcoin. Many of us prefer to invest in Bitcoin for a long term.

[CryptopreneurBrainboss]

Make sure you have a consistent source of income that will make it possible for your investment to grow. And while DCA could be very helpful, but regardless if you do it weekly or monthly, the key here is that you never stop adding more bitcoin into your portfolio from time to time. That’s the secret to slowly increase your bitcoin, as long as you have a consistent flow of income.

I'll say more monthly than weekly so you don't have to miss it and stay consistent. Saying weekly, might results to some weeks that you won't have the funds to stack up more Bitcoin. Having a stable income has to be emphasize more because most new newcomer consider investing in Bitcoin to be like a job meanwhile what they should be doing is having a stable job and then investing in Bitcoin. For those that wants to make use of the market as their main source of income, it might be impossible for them because of how the market is structures so the best strategy should be, you having something that you're doing that gives you money constantly then set aside the percentage that you'll put into Bitcoin. Do this for some few years and you would have accumulate lots of Bitcoin before you realize.

[Floxynice]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

You do not need to stress yourself about balancing your investment. Just have a specific amount you will be injecting into your wallet weekly. Be consistent with it and pay less attention to the price fluctuations. Whether the price of Bitcoin increases or decreases, maintain the same amount consistently. That is what DCA is all about; investing consistently while ignoring what the price of Bitcoin might be at the moment. This is the method I follow, and I highly recommend it. However, if you wish to increase or decrease the amount as the price of Bitcoin fluctuates, it's still up to you.

Of course, it's an easy and simple method to stash up your bitcoin portfolio overtime provided that you are consistent and persistent with your DCA buying. It just like when ww were smal, we had a saving box that whenever anyone maybe, friends, family, visitors and relatives gives us money as a gift we put it into the saving box. Gradually, you see the money piling up and after three years when we believe that there's enough money in the box, we break it open. Honestly, we are always surprised at the huge amount of money we do see.

DCA is like that, you don't invest with stress but with ease and you can still involve yourself in other financial deals.

Many people already have this concept in their heads, but the major problem they face with this idea is consistently buying Bitcoin even when the price is high. I think this is where OP got all the confusion from and is trying hard to balance his investment. Well, there is no such thing as balancing as far as DCA is concerned, just keep buying. I know that, as convenient as this method may seem, some newbies will not feel comfortable buying Bitcoin when the price is on the higher side.

Investment methods are a choice, they can simply buy a lump sum when Bitcoin's price is low and hold until they reach their investment goals. Both methods require patience, and the goal is still the same: to maximize profits.

[Obari]

As someone new to investing, how can I balance regularly putting in a set amount each week with grabbing extra when prices dip to protect my money and grow it smartly over the next few years?

Logically you’re trying to make sure you don’t make any loss which might be a very focused task to do and this is in some ways a form of trading if reasoned logically.
If you’re trying to buy bitcoin periodically, then the DCA method should be best for you but this methods doesn’t pay any attention to the price of bitcoin but rather focuses on the need for you to buy at every given opportunity we have funds we can risk. The DCA method is always intended for long term investors who look to build their portfolio over the period without having to over stress themselves and not wanting to sell Everytime the market dips.

Just as the first responder on your post said, I think it wouldn’t be a bad idea if you don’t mind using centralized exchanges like binance specifically, they offer you the opportunity to auto buy and auto sell at your preferred prices.