Balancing Financial security and Bitcoin Accumulation

[Abelly]

"(most of this dudes might be new to the forum but may likely not be new in bitcoin investment and moreover they might have read some articles or books and even read more on the internet.)"
To exclude those that might not be new to Bitcoin investment. But as for just reading an article, book and so on, they are more or less like some if not most of the writers they have read from who capture news, writes about Bitcoin but haven't invested before and some or most of their readers just read without practice so coming on such ground to this forum means new to Bitcoin entirely.
Because out of memory after reading someone can write with technical terms even though they have no practical which is a different thing altogether in this matter.

Those who have come to this group have come with a spiritual knowledge. Which is different from reading books and the internet. So if you want to do something, you have to invest in real experience. Using something without real experience does not prove it to be effective!

[Different patterns]

There is actually a close relationship between investment and savings. However, when someone invests in Bitcoin in the hope of capital growth for a long time. However, it can also be seen as a type of savings. Because its purpose is the same. Building wealth for the future!

But the only difference is that savings. Generally stable (bank savings) can be said to be. And both investment risks are possible. However, with time, you will understand the matter more clearly or better!

Saving and investing are not the same bro, they are totally different because in saving of our fiat currency, you money will not add up on it own, even though the bank rewards you of some interest for saving your money in a stipulated timeframe, just check well, inflation might have reduced the value of that money or eaten into it, but with Bitcoin or any other asset that appreciate in value overtime once you can hold it for long, their is a higher probability that you can make something huge out of it, because investment is way more better and rewarding than saving your money instead of putting it into work by investing in Bitcoin with it.

You are right, and I understand your statement. Let me just add to what you said: saving and investing are not at the same level. While both involve setting money aside for future use, they serve different directions. The reason why I say so is that saving serves as money you keep aside in a secure place, something like a savings account, or you will use it for the short term as an emergency need. The money you save in your savings account can only offer you a very low return; that's what makes it different.

If you are expecting something huge in return, the advice is to invest it in Bitcoin instead of saving it, because investing is like you are committing money to an asset, with the expectation of generating profit as a return. When you invest long-term, it can make your wealth grow, not like saving. We know that investing comes with high risk, but it also offers the potential for higher returns. Investment and saving both have different directions; they are not the same.

[liasbaa]

Bitcoin is an asset that people find interest to invest because of it's potentials, this investment has to do with your discretionary income, so when you say, people invest in Bitcoin as a means of savings gets me really interested, maybe investment can as well come in as savings too, though am still learning and haven't really grasped how the saving part works

There is actually a close relationship between investment and savings. However, when someone invests in Bitcoin in the hope of capital growth for a long time. However, it can also be seen as a type of savings. Because its purpose is the same. Building wealth for the future!

But the only difference is that savings. Generally stable (bank savings) can be said to be. And both investment risks are possible. However, with time, you will understand the matter more clearly or better!

If your saving,then you're not building any wealth for yourself in the future.  Depositing into Bitcoin isn't savings anymore, Rather it is an investment. Whatever assets that appreciate in value overtime is an investment asset and once you start depositing funds into any of such assets,it means you are investing to make profits. Generational wealth isn't build from savings rather it is built from early investments in profitable assets.

Bitcoin is not for saving money but it is an investment, I think savings is called that which never decreases, that is, the amount of money you keep saving will never decrease, but its value will decrease due to inflation, But on the other hand, in the case of Bitcoin, it is a long-term investment and there is always a potential risk here, but the main thing is that in the long term, although Bitcoin has risks, the potential return is much higher, and it can bring you much more success than savings, but since there will be risks, you have to accept this risk and decide to invest.

Every investment has risks. In the case of Bitcoin investment, it does not carry a separate meaning. It is possible to reduce the investment amount by accumulation Bitcoin for the long term. Long term plan that you will adopt by deposit Bitcoin through discretionary income will reduce your risk level a lot under this plan because you are accumulation Bitcoin at regular basis and that is of the any price. Investors who can accumulate Bitcoin regularly during the possible price decline and rise in the market can expect high returns. In this situation as the price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy additional Bitcoin fractions. Since most investors are not in a risk averse state it is always a good strategy to use discretionary income in Bitcoin investment.

[Proty]

... price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy ....

There is no time that isn't good to buy bitcoin whether there is a decline or not. The most important thing is if the discretionary income is there and them we are good to go. So it is wrong to say that it is good to buy bitcoin when the price of Bitcoin is declining. This will only make you to think waiting for bitcoin to dip before you start buying since you already have this mindset that it is better to buy when there is a dip.you can buy bitcoin at any price using DCA strategy and still buy the dips as long as there is extra cash to do so

[Sally9256]

Just came across this post and I am really impressed with the tips you have shared. It's really not easy to build emergency fund and accumulate Bitcoin simultaneously. A lot of people have tried and failed and there is me on the other hand that wants save and invest but struggling to manage finances properly.

I have learned a lot reading this post and this looks achievable but with discipline and patience. I can't go through the whole pages but I have already learned so much reading a few. This knowledge will finally help me manage my finances properly.

[GIF-JOBS]

... price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy ....

There is no time that isn't good to buy bitcoin whether there is a decline or not. The most important thing is if the discretionary income is there and them we are good to go. So it is wrong to say that it is good to buy bitcoin when the price of Bitcoin is declining. This will only make you to think waiting for bitcoin to dip before you start buying since you already have this mindset that it is better to buy when there is a dip.you can buy bitcoin at any price using DCA strategy and still buy the dips as long as there is extra cash to do so

Those who just wait for the price to drop to buy Bitcoin can never buy correctly, waiting for the price to drop to buy is never the right decision, the most correct, convenient and long-term strategy for buying Bitcoin is the DCA strategy, the real power of Bitcoin is its long-term potential, so expecting short-term returns from Bitcoin investment can be a failure for you, because it will not fluctuate as you expect, due to which you will never be able to buy or sell as expected, and as a result you will be a victim of failure in this strategy most of the time. Therefore, investing regularly (in the DCA strategy) is the most effective way, so far those who have been investing through DCA for the last 4-5 years are definitely profitable now, so continue to invest for the future through this strategy, then you will have the highest chance of success from it, which you may never be able to do through short-term trading.

[Futurexxx]

Every investment has risks. In the case of Bitcoin investment, it does not carry a separate meaning. It is possible to reduce the investment amount by accumulation Bitcoin for the long term. Long term plan that you will adopt by deposit Bitcoin through discretionary income will reduce your risk level a lot under this plan because you are accumulation Bitcoin at regular basis and that is of the any price. Investors who can accumulate Bitcoin regularly during the possible price decline and rise in the market can expect high returns. In this situation as the price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy additional Bitcoin fractions. Since most investors are not in a risk averse state it is always a good strategy to use discretionary income in Bitcoin investment.

You are right, their is no investment out there that is risk free, all investment is risky including Bitcoin, just that the risk attached to Bitcoin investment can be reduced or mitigated if held for a very long time, but those that bought and held for a very short time hoping to sell at a profit are the ones feeling most of the effect of the risk attached to Bitcoin, not long term holder, so my candid advice to all investors that wants to gets into Bitcoin investment is that they should invest with the intention of doing it for a very long time, so that they can reap the whole benefits of investing in Bitcoin, unlike those that just bought and sold off for a very short period of time.

[Joeboy]

There is no time that isn't good to buy bitcoin whether there is a decline or not.

The bolded out part only applies when an investor is DCAing. This is coz the whole idea behind DCA is to keep buying irrespective of the price level or market conditions. One lovely thing about the DCA strategy is that it removes that burden of  chasing or timing that perfect entry point to enter intoo Bitcoin. For DCA Investor,  every time is a good time to invest in Bitcoinn.

however, for one for one who doesn't practice DCA, and only buys during the dip, timing will matter a whole lot. Infact ehn every time for those sets of investors who buy the dip isn't a good time to invest.......

[GIF-JOBS]

Every investment has risks. In the case of Bitcoin investment, it does not carry a separate meaning. It is possible to reduce the investment amount by accumulation Bitcoin for the long term. Long term plan that you will adopt by deposit Bitcoin through discretionary income will reduce your risk level a lot under this plan because you are accumulation Bitcoin at regular basis and that is of the any price. Investors who can accumulate Bitcoin regularly during the possible price decline and rise in the market can expect high returns. In this situation as the price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy additional Bitcoin fractions. Since most investors are not in a risk averse state it is always a good strategy to use discretionary income in Bitcoin investment.

You are right, their is no investment out there that is risk free, all investment is risky including Bitcoin, just that the risk attached to Bitcoin investment can be reduced or mitigated if held for a very long time, but those that bought and held for a very short time hoping to sell at a profit are the ones feeling most of the effect of the risk attached to Bitcoin, not long term holder, so my candid advice to all investors that wants to gets into Bitcoin investment is that they should invest with the intention of doing it for a very long time, so that they can reap the whole benefits of investing in Bitcoin, unlike those that just bought and sold off for a very short period of time.

There is no such investment or path to success that is risk-free, everything has risks involved, and when you try to invest in something, you first need to know all the general aspects of that investment, so that there is no confusion after the investment. If you have an idea about the risks of Bitcoin at the beginning of the investment, then you will not panic during the volatility, which will greatly reduce the risk of your investment failing. Those who mainly enter with the hope of quick profits are the ones who suffer the most losses, because they get very scared during every ups and downs, due to which they are not able to hold on for the long term. But those who know this volatility very well and can ignore it, can easily keep themselves stable even during the volatility.

[Gost ms]

price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy ....

Every time is a good time to buy Bitcoin. If a person waits for a good time to buy Bitcoin, he may never be able to invest. Because Bitcoin is very volatile. Suppose the price of Bitcoin is currently at $100, within 5 minutes the price of Bitcoin may become $80. So I think there is no right time to buy Bitcoin. If you have money to invest, keep buying continuously, it will be best.

Keeping money aside for the fall or keeping money aside to buy aggressively during the fall, this does not seem very good to me. Because no one can tell when the fall will happen. So it is foolish to save money for the unknown future. If you have money to invest, then buy immediately, it will be good for you.

[Abelly]

Just came across this post and I am really impressed with the tips you have shared. It's really not easy to build emergency fund and accumulate Bitcoin simultaneously. A lot of people have tried and failed and there is me on the other hand that wants save and invest but struggling to manage finances properly.

I have learned a lot reading this post and this looks achievable but with discipline and patience. I can't go through the whole pages but I have already learned so much reading a few. This knowledge will finally help me manage my finances properly.

Thank you. Your words are very beautiful. Actually, creating financial discipline is not as easy as we think. But if you try slowly, it will definitely be possible. You are on the right track. The desire to learn in life is the biggest step. But if you make small progress regularlyyou will see big changes in life !

But many people do not understand that. Savings. Investments. Emergency fund. How challenging it is to run these three things together, but you are trying to learn. This is a very important aspect. And if you are patient, you will see that everything has become easier !

And although it is difficult, it is not impossible. Patience and discipline are the real keys. It really feels good that you are learning !

[JayJuanGee]

Every investment has risks. In the case of Bitcoin investment, it does not carry a separate meaning. It is possible to reduce the investment amount by accumulation Bitcoin for the long term. Long term plan that you will adopt by deposit Bitcoin through discretionary income will reduce your risk level a lot under this plan because you are accumulation Bitcoin at regular basis and that is of the any price. Investors who can accumulate Bitcoin regularly during the possible price decline and rise in the market can expect high returns. In this situation as the price of Bitcoin is currently going through a decline, if you have excess funds, it is a better time to buy additional Bitcoin fractions. Since most investors are not in a risk averse state it is always a good strategy to use discretionary income in Bitcoin investment.

You are right, their is no investment out there that is risk free, all investment is risky including Bitcoin, just that the risk attached to Bitcoin investment can be reduced or mitigated if held for a very long time, but those that bought and held for a very short time hoping to sell at a profit are the ones feeling most of the effect of the risk attached to Bitcoin, not long term holder, so my candid advice to all investors that wants to gets into Bitcoin investment is that they should invest with the intention of doing it for a very long time, so that they can reap the whole benefits of investing in Bitcoin, unlike those that just bought and sold off for a very short period of time.

There is no such investment or path to success that is risk-free, everything has risks involved, and when you try to invest in something, you first need to know all the general aspects of that investment, so that there is no confusion after the investment. If you have an idea about the risks of Bitcoin at the beginning of the investment, then you will not panic during the volatility, which will greatly reduce the risk of your investment failing. Those who mainly enter with the hope of quick profits are the ones who suffer the most losses, because they get very scared during every ups and downs, due to which they are not able to hold on for the long term. But those who know this volatility very well and can ignore it, can easily keep themselves stable even during the volatility.

One of the great things about bitcoin is that there is no minimum quantity requirement in order to get started and there is no gate-keeper.

Sure, some exchanges might have minimum orders of $5 or something like that, yet anyone can get started in bitcoin with fairly low quantities of value.. so in that regard, there is no need to know everything in order to get started... so in that regard, any of us can choose our position size based on our level of knowledge and/or our confidence level and we can increase and/or decrease our position (exposure) based on our increasing or decreasing confidence level  and/or our increasing/decreasing knowledge level.

Accordingly, the main thing that we need to know in order to get started in bitcoin is whether or not we have discretionary income, and investments should be made from discretionary income.  I don't agree with the idea of trading bitcoin, even though surely some folks will come to bitcoin with the idea of trading it or flipping it, and some of those people might convert into bitcoin investors afte studying bitcoin and becoming more familiar with it.