Three best ways to hold bitcoin combined.

[Zackz5000]

I'm happy for a thread like this where people are sharing their experience-based opinion. This solves one of the argument I had with a friend late last year, he was insisting that altcoin season was going to happen this year and he even listed some altcoins he believed had potentials. Charles-Tim have settled the argument with his experience in Filecoin and beautiful explanation of what it means to DCA in altcoins which is outright gambling.

The DCA method is a beautiful method but when it is applied in the wrong asset that is doomed to fail, it will not produce the desired result. Hence it is important to apply the DCA method strictly for Bitcoin accumulation, that is the way that guarantees that the investmemt will not go to ruins.

The DCA strategy is only apply to Bitcoin that's Bitcoin long time investment, those who are investing in altcoins are just gambling because they are investing in a pump and dump coin that is untrustworthy, those who can't invest in a trusted coin like Bitcoin and chooses altcoins should invest only 5% of there income and the DCA strategy shouldn't be apply to altcoins unless you are ready to throw away your money into the well where you can't get it back apply DCA strategy in Bitcoin long time investment by gradually accumulating Bitcoin and hodl.

[I_Anime]

Have you heard about DCA which is not something that is new? Buying bitcoin like every week or every month. This is a good strategy to buy and hold bitcoin in a way you will not think of bitcoin price falling.

The second one is to average buy buying the dip. When bitcoin price fall to like $100000, you can buy bitcoin. When the price fall to like $90000, you can buy more bitcoin and do on.

The third one is lump sum when you think that bitcoin price has fallen very well, you can use the remaining part of your money to buy bitcoin.

How it works
From your 100% money you earn weekly, set 30% aside to buy bitcoin
From the 30% use just 10% from it to DCA
Use 10% to average
Use the remaining 10% which you have saved up for months to buy lump sum if bitcoin fall to like $70000.

I do not know if bitcoin will fall to $70000, but if it does not fall to that price or the price you want to lump sum, that means you still invest 20% of you money on bitcoin.

This is the just the best way to survive the market , by planning properly . These are the three method one can use to accumulate bitcoin effectively. And they can literally work together , folk can choose to start their bitcoin accumulation with lumpsum just to get some good heads start in their accumulation.

Before engaging in dcaing to accumulate and build their stack while saving some percentage of their earning as back up funds (different from their emergency funds ), for buying the dip during any .

[leonair]

I'm happy for a thread like this where people are sharing their experience-based opinion. This solves one of the argument I had with a friend late last year, he was insisting that altcoin season was going to happen this year and he even listed some altcoins he believed had potentials. Charles-Tim have settled the argument with his experience in Filecoin and beautiful explanation of what it means to DCA in altcoins which is outright gambling.

The DCA method is a beautiful method but when it is applied in the wrong asset that is doomed to fail, it will not produce the desired result. Hence it is important to apply the DCA method strictly for Bitcoin accumulation, that is the way that guarantees that the investmemt will not go to ruins.

The DCA strategy is only apply to Bitcoin that's Bitcoin long time investment, those who are investing in altcoins are just gambling because they are investing in a pump and dump coin that is untrustworthy, those who can't invest in a trusted coin like Bitcoin and chooses altcoins should invest only 5% of there income and the DCA strategy shouldn't be apply to altcoins unless you are ready to throw away your money into the well where you can't get it back apply DCA strategy in Bitcoin long time investment by gradually accumulating Bitcoin and hodl.

Bitcoin is volatile, but no matter how much the price of Bitcoin goes down, it recovers and this is granted, but there is no guarantee for other coins that those coins will recover again after going down. Therefore, no matter how much investment is made in Bitcoin, they are completely safe. So if someone has the opportunity, he can invest 100% of his income in Bitcoin, it will not be bad for him, but of course it is important to follow DCA, so that you can stay away from panic. No matter how much the price of Bitcoin goes down after the first investment, why is the price set at a very low price when DCA is done, which helps to keep away from panic and generate very good profits.

[Bd officer]

Bitcoin is volatile, but no matter how much the price of Bitcoin goes down, it recovers and this is granted, but there is no guarantee for other coins that those coins will recover again after going down. Therefore, no matter how much investment is made in Bitcoin, they are completely safe. So if someone has the opportunity, he can invest 100% of his income in Bitcoin, it will not be bad for him, but of course it is important to follow DCA, so that you can stay away from panic. No matter how much the price of Bitcoin goes down after the first investment, why is the price set at a very low price when DCA is done, which helps to keep away from panic and generate very good profits.

I think investing 100% of income is not a good decision. Because if you plan to invest 100% of income then how will you meet your household expenses? Like how will you pay house rent and electricity bills? So no one should invest 100% of income. If you invest 100% of your income then it will not be possible to keep your investment for a long time. So everyone should try to invest with discretionary income. And nothing is completely safe, of course there is some risk involved, so we have to learn to deal with risk. And you should focus on your emergency fund.

[Karl_3000]

I think investing 100% of income is not a good decision. Because if you plan to invest 100% of income then how will you meet your household expenses? Like how will you pay house rent and electricity bills? So no one should invest 100% of income. If you invest 100% of your income then it will not be possible to keep your investment for a long time. So everyone should try to invest with discretionary income. And nothing is completely safe, of course there is some risk involved, so we have to learn to deal with risk.

Probably he could be talking about discretionary income.

And you should focus on your emergency fund.

I have experimented saving emergency income in bitcoin before and the result turned our very  blossoming. Bitcoin gave me the money that fiat can not give even if it is giving me APR. But someone has to be wise about it and convert it to bitcoin at the right time.

[coinrifft]

Bitcoin is volatile, but no matter how much the price of Bitcoin goes down, it recovers and this is granted, but there is no guarantee for other coins that those coins will recover again after going down. Therefore, no matter how much investment is made in Bitcoin, they are completely safe. So if someone has the opportunity, he can invest 100% of his income in Bitcoin, it will not be bad for him, but of course it is important to follow DCA, so that you can stay away from panic. No matter how much the price of Bitcoin goes down after the first investment, why is the price set at a very low price when DCA is done, which helps to keep away from panic and generate very good profits.

I think investing 100% of income is not a good decision. Because if you plan to invest 100% of income then how will you meet your household expenses? Like how will you pay house rent and electricity bills? So no one should invest 100% of income. If you invest 100% of your income then it will not be possible to keep your investment for a long time. So everyone should try to invest with discretionary income. And nothing is completely safe, of course there is some risk involved, so we have to learn to deal with risk. And you should focus on your emergency fund.

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.

So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

[SquallLeonhart]

All strategies are good but it depends on how you use them. DCA helps to grow your bitcoin portfolio faster and very good for a new investor to start with even though, it good for both old and new investors to use in accumulating bitcoin until, they reach their bitcoin target.

One thing I don't like in buy the dip is if it's the only buying strategy that you are using to accumulate bitcoin because it keeps you waiting for no reason and miss out a lot of opportunities in the market because no one knows when the dip will come. Some investors waiting for the dip ends up not buying because bitcoin didn't dip to their expected price.

It's good to mix all three strategies. You have reserve funds to buy at the dip as your DCA is ongoing and lump sum whenever, you have extra funds that you didn't plan for.

DCA is good for newbies, but it's also very easy and simple for the veterans too. I have bene here for over a decade, and I have to say that DCA is still the one I love the most, like really really love. Because you literally do nothing, if you do have some money saved, you buy some bitcoin, and do that whenever you save some money aside and that's it, that's the whole strategy you do nothing else.

It's so simple and yet if you do it long enough, it provides you with profit without anything else. How could you not love anything like that, it has no scare, no stress, no panic, you just keep on buying whenever you can and you keep doing that for as long as you can, that's the whole entire strategy, so simple and profitable.

[Awaklara]

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.

So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

Investing everything is indeed bad. Even when we have divided our money into several needs, including routinely investing in Bitcoin, we cannot ignore the emergency fund. This is the money you can use when you have sudden needs. So you have your own savings for situations like that. In the process, the Bitcoin investment you hold will not have planning problems. Although it is acceptable to withdraw our Bitcoin investment funds for urgent purposes.

[Merit.s]

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.

So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

Don't forget to set up an emergency funds of at least three months of your monthly expenses along side with growing your bitcoin investment to avoid premature sales of your bitcoin when it's not of your will.

Your emergency funds will be used to take care of any real life emergency that pops up as you are investing in bitcoin. Other backup funds are also good to set up. It's not all about buying and buying without making provision to safeguard your bitcoin investment from unforeseen circumstances. You can share your discretionary income into three parts as a brand new investor. One part for you weekly DCA, the second part for building your emergency funds at the last for your discretionary consumption.

[Crytohillss]

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.
So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

Putting all your cash into Bitcoin investment especially some thing as volatile as cryptocurrency can leave you exposed when real life expenses pop up, having an emergency funds gives One that breathing room so people are not forced to sell your investment at the wrong period yes about flexibility you can tap into Bitcoin if things get urgency but it's definitely better when that's not your first option planning ahead of time with seperate fund's just makes everything more stable and Less stressful in the long term investment.

[Umulala-alala]

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.
So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

Putting all your cash into Bitcoin investment especially some thing as volatile as cryptocurrency can leave you exposed when real life expenses pop up, having an emergency funds gives One that breathing room so people are not forced to sell your investment at the wrong period yes about flexibility you can tap into Bitcoin if things get urgency but it's definitely better when that's not your first option planning ahead of time with seperate fund's just makes everything more stable and Less stressful in the long term investment.

Putting all your money in BTC is sucider and such person is gambling with his money when the price dip he may panic and sell so he can recover small money from his bitcoin investment without losing everything because he never invested with money he can afford to lose.
The volatility of bitcoin and other coins are not the same so be more specific on the particular coin and don't use cryptocurrency so that some newbies won't believe that bitcoin and shitcoin or altcoin are the same so you can either call bitcoin or altcoin so there can be a difference and not for you to mention cryptocurrency.

[DanWalker]

Putting all your money in BTC is sucider and such person is gambling with his money when the price dip he may panic and sell so he can recover small money from his bitcoin investment without losing everything because he never invested with money he can afford to lose.

This applies not only to Bitcoin but to all investment. Because all investment involve risk and volatility, not just Bitcoin or crypto.
Dont put all your eggs in one basket, and always having a contingency fund is a golden rule that any investor must follow if they want to survive in the market.

The volatility of bitcoin and other coins are not the same so be more specific on the particular coin and don't use cryptocurrency so that some newbies won't believe that bitcoin and shitcoin or altcoin are the same so you can either call bitcoin or altcoin so there can be a difference and not for you to mention cryptocurrency.

We need to clearly distinguish between bitcoin and altcoin, not because of volatility, that is not the most important thing.

We need to make a clear distinction because altcoins carry more risks, like gambling. Meanwhile, Bitcoin is on a different level, its safer and more reliable.

[Joeboy]

~snip~

I think investing 100% of income is not a good decision. Because if you plan to invest 100% of income then how will you meet your household expenses? Like how will you pay house rent and electricity bills? So no one should invest 100% of income. If you invest 100% of your income then it will not be possible to keep your investment for a long time. So everyone should try to invest with discretionary income. And nothing is completely safe, of course there is some risk involved, so we have to learn to deal with risk. And you should focus on your emergency fund.

It is very much unlikely, but yet again we shouldn't also neglect the fact that folks could have multiple sources of incomes which is very much separate from their main income sources.... And if that's the case, then using 100% of your main income isn't a bad approach, if such an amount is their Discretionary income...My point exactly is that folks are entitled to choose whatever percentage/or amount that they feel comfortable to invest with, but when doing so they have to ensure that it is their discretionary income that is being used, and not the money that is meant for their essentials, so that the process of one's investment remains sustainable without any room for interference that could lead to forcing one to sell their Bitcoin at a possibly wrong time...

[I_Anime]

It's bad because you will have to withdraw at some point on your Bitcoin investment. So I would rather have (a), pay all my bills first, (b), money left is going to be invested on Bitcoin, (c) keep repeating the process.
So its like very paycheck, it could be every week or every other 2 weeks. And then just continue with that process as long as you can. The best is that if you can keep going for at least 4 years or a full cycle and see how it goes for you.

Putting all your cash into Bitcoin investment especially some thing as volatile as cryptocurrency can leave you exposed when real life expenses pop up, having an emergency funds gives One that breathing room so people are not forced to sell your investment at the wrong period yes about flexibility you can tap into Bitcoin if things get urgency but it's definitely better when that's not your first option planning ahead of time with seperate fund's just makes everything more stable and Less stressful in the long term investment.

Going all in , in bitcoin is like making Bitcoin your emergency funds or your funds for handling expenses. Because if you focus most of your percentage bitcoin in the form of being over aggressive, you will only setting your self to point of always running to that investment in order to handle expenses.

So if you are investing, invest properly make sure you allocating your earning well using the right percentage, in order to balance your investments funds and emergency funds same time handling your expenses.

[Bushdark]

All strategies are good but it depends on how you use them. DCA helps to grow your bitcoin portfolio faster and very good for a new investor to start with even though, it good for both old and new investors to use in accumulating bitcoin until, they reach their bitcoin target.

One thing I don't like in buy the dip is if it's the only buying strategy that you are using to accumulate bitcoin because it keeps you waiting for no reason and miss out a lot of opportunities in the market because no one knows when the dip will come. Some investors waiting for the dip ends up not buying because bitcoin didn't dip to their expected price.

It's good to mix all three strategies. You have reserve funds to buy at the dip as your DCA is ongoing and lump sum whenever, you have extra funds that you didn't plan for.

DCA is good for newbies, but it's also very easy and simple for the veterans too. I have bene here for over a decade, and I have to say that DCA is still the one I love the most, like really really love. Because you literally do nothing, if you do have some money saved, you buy some bitcoin, and do that whenever you save some money aside and that's it, that's the whole strategy you do nothing else.

It's so simple and yet if you do it long enough, it provides you with profit without anything else. How could you not love anything like that, it has no scare, no stress, no panic, you just keep on buying whenever you can and you keep doing that for as long as you can, that's the whole entire strategy, so simple and profitable.

The simplicity of the DCA strategy is what makes it unique. It allow you to buy Bitcoin effortlessly without looking at the chart before you decide when and what price you have to buy Bitcoin. It reduces the greed in investors especially the newbies when making plans to use part of their money to invest in Bitcoin. You just don't invest in Bitcoin, you are allow to invest up to 30% of your income so that the rest can be use for others things that will not allow you to touch your investment because you are in a big problem wheee you needed money.

Once the DCA has been understood there will be less panic about the market whether Bitcoin price is going up or the price is going down.
Traders and investors that like taking advantage of the market are the ones that will be looking at price charts before investing in Bitcoin.
If an investor has the plan to hold for long, the DCA will be a good alternative.

[Tetu100]

Good advice starts with DCA, buying on average up to a lump sum.
DCA is the standard method I use, and many others still adhere to it when investing in Bitcoin.
This method is timeless and always relevant to any situation, especially financial ones.

When ever I got plans in accumulating some bitcoin in my portfolio, the dca methed is just the best I deem fit for that purpose. Because it very convinence, it don't require you going through the stress of monitoring the market movement and all that, it's more safe in all aspect, in fact I will say is just the best method to accumulate as long as bitcoin is concern.  Though buy the dip is also cool but it can delay you of an opportunity when available all in the sake of waiting for the dip to come, and that isn't healthy especially for newbies that's just stating up.

[@nn@_pen9]

Bitcoin is the only good coin that I know, I don't know about any other good coins that you are talking about and I wouldn't buy the idea of advising anyone to be trading as a source of income, some newbies can be mislead with this to be thinking that trading is some kind of easy way to make money while it is very hard and involves high risk, if your advice is on diversification then people have to get into other investments or business that are not related to bitcoin after investing in Bitcoin.

If you have a small amount of money, will investing in bitcoins be very profitable? i know bitcoin is the best coin but if you have less money you can invest in altcoin. And you need to be careful enough to select good coins. For this enter CMC and you can see the top ranking coins but it is completely personal matter of who to invest in which coin. And new investors will never get confused if they have an understanding of the market.

Whether you have a lot of money or not, if you invest in Bitcoin in the long term it will certainly be profitable for you. Every investor certainly has their own style in terms of investment or in seeing each asset that they want to invest in and that is profitable for them, that is the choice of each investor. I personally would definitely prioritize or have a much larger percentage of Bitcoin in my investments and altcoins would only be a few percent of my discretionary income.

[Karl_3000]

Whether you have a lot of money or not, if you invest in Bitcoin in the long term it will certainly be profitable for you. Every investor certainly has their own style in terms of investment or in seeing each asset that they want to invest in and that is profitable for them, that is the choice of each investor. I personally would definitely prioritize or have a much larger percentage of Bitcoin in my investments and altcoins would only be a few percent of my discretionary income.

Yes, it is good to invest high amount of money on bitcoin and hold it for a long period of time, but I can not use my discretionary income to invest in altcoins in a long period of time. Altcoins are pump and dump and later the price might rise but not in a way they will get to their highest price they got to in the past which will be disappointing.

Not all altcoins are like this, but out of millions of coins that are existing now, just very few may not be shit coins. But the dangerous thing is that the one you thought are not shit coins sometimes will become big shit coins.

[Yablee0]

but I can not use my discretionary income to invest in altcoins in a long period of time. Altcoins are pump and dump and later the price might rise but not in a way they will get to their highest price they got to in the past which will be disappointing.

Investing in alt coin is definitely the last thing on my mind since it's something that is not to be trusted and seem more of a gamble to me. However I prefer investing in Bitcoin investment and hold it as long as a please than risking on some alt that am not sure of, though everybody with their  different decision in  investment choice but from what I know about alt coin and what history has recorded so far, I don't think I will ever look towas that direction even till tomorrow.

[obuoma]

Whether you have a lot of money or not, if you invest in Bitcoin in the long term it will certainly be profitable for you.

You don't need a lot of money to start investing in Bitcoin, you just need to be able to have some balance after settling your basic needs, get started. Investment method like the DCA method allows you to do that successfully and that is what everyone that aim to incorporate  because it seems more organised and easier to use than any other method iut there.

Every investor certainly has their own style in terms of investment or in seeing each asset that they want to invest in and that is profitable for them, that is the choice of each investor. I personally would definitely prioritize or have a much larger percentage of Bitcoin in my investments and altcoins would only be a few percent of my discretionary income.

This statement is misleading especially to new investors because it might send the signal that they are free to find their supposed Holy grey which we all know will lead them straight to searching for quick profits, trading and even investing in shitcoins. What we should do now is to insist on what is right, share our experiences so that others can learn and not create that impression that we have not figured out the right way to go about investing in Bitcoin. The advantages and disadvantages of the various methods of accumulating Bitcoin have been explained and we could see that the DCA method seems to be one of the most convenient method for all income classes, hence people should be encouraged to adopt it.