Three best ways to hold bitcoin combined.

[Hardyrobust]

I don’t think there’s any need to be worrying about making profit if truly your goal is to hold long term. And besides, just because you’re holding bitcoin for long does not mean that profit is guaranteed for you even though we might have expectations of it, it is rather better for you to focus more on how to stay locked in with your investment than for you to be obsessing over profit. You might as well just go and do trading instead… since you’re looking for profit that is not guaranteed rather than hiding under the guise of being an investor.

Every investor's number 1 goal is making profit. I don't see why one should not think about profit or expect his investment to appreciate in value over time. The only thing is the person should not over expect the profit to come, as it can't be guaranteed or predicted when exactly you will see it, trading which you are also recommending is like gambling and requires great knowledge even as that the risk associated with it is high compared to just holding bitcoin over long period of time.

There’s really no guarantee that we who invest in Bitcoin will make a profit, but that’s exactly what everyone who invests hopes for. If there wasn’t that hope, no one would put their money into buying Bitcoin. We can plan how long we’ll manage our investments, but sometimes the market moments don’t go according to our plans. So when the profit is enough, some investors sell off their investments based on the target price, not how long they’ve held them.

Profit isn't the only reason why most people invest in bitcoin. Bitcoin has proven it's worth as a good store of value and this is also part of the reason why people that want to store up value for there next generation do invest in bitcoin. Also bitcoin bitcoin is decentralised in nature and this is also the reason why some people invest in bitcoin because of the freedom it offers. So it is wrong to think that people are only investing in bitcoin because they want to make profit.

[Shineup]

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.

Funny how this strategy actually played out. Bitcoin is already below $70,000. Time to use your saved lump sum to buy Bitcoin. You see why I will always recommend this platform to my friends. Always giving valuable insights on how to go about investing rightly in Bitcoin. No sugarcoating. Just pure knowledge at it's peak and ready to share it to people who are willing to take instructions. GOOD JOB OP.

That's buying the dip and not Lump sum as lump sum doesn't prioritize time entry instead the availability of the money and the the investor decision to just buy Bitcoin without any special consideration of the time of market entry, Lump sum could be used at anytime but when you talk about bitcoin being below the $70k price you are buying the dip and not Lump sum. As for recommending this platform to friends that's just perfect as this place is actually one of the best place Bitcoin investment is talk about exhaustively and alot can  actually be learnt no doubt.

[Merit.s]

Every investor's number 1 goal is making profit. I don't see why one should not think about profit or expect his investment to appreciate in value over time . The only thing is the person should not over expect the profit to come, as it can't be guaranteed or predicted when exactly you will see it, trading which you are also recommending is like gambling and requires great knowledge even as that the risk associated with it is high compared to just holding bitcoin over long period of time.

Do you think that the wealthy people are investing into bitcoin to make profit, I doubt that it's everyone that's investing for the sole purpose of making profit from their bitcoin investment. Some folks are investing into bitcoin to preserve their wealth from depreciating in value overtime since Fiat loses its purchasing power overtime and Bitcoin is a store of value overtime.

The government that are buying bitcoin or created bitcoin reserve isn't doing that for profit but to preserve the value of the State/Country funds from losing value overtime. If you put profit first, you might end up selling your bitcoin too soon when you see a drastic pump in price without accumulating enough. This is why you shouldn't put profit at the back of your mind as you are investing but focus on consistent and persistent accumulation of bitcoin for 4-10 years or more in order for you to reach your bitcoin target and don't get distracted with the profit in your bitcoin portfolio.

[PhilosopherKing]

Every investor's number 1 goal is making profit.

We have over billions of investors in the world today, and what makes you think you know what every person intentions are huh?  Profits isn't guaranteed so it will be very dumb for person to make profit their number 1 goal because the person can get disappointed if Bitcoin doesn't behave like it do in the past.

Bitcoin is part of the best investment that we have, and there are different reasons why this is so.  And it is because of this reason that some persons ongoingly invest. Bitcoin can preserve the value of your money when person keep on investing it for long time.  And this can be reasons why some person invest. Some also use bitcoin to diversify and hedge against inflation .

[Odohu]

Every investor's number 1 goal is making profit.

Bitcoin is part of the best investment that we have, and there are different reasons why this is so.  And it is because of this reason that some persons ongoingly invest. Bitcoin can preserve the value of your money when person keep on investing it for long time.  And this can be reasons why some person invest. Some also use bitcoin to diversify and hedge against inflation .

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

[Gost ms]

Every investor's number 1 goal is making profit.

Bitcoin is part of the best investment that we have, and there are different reasons why this is so.  And it is because of this reason that some persons ongoingly invest. Bitcoin can preserve the value of your money when person keep on investing it for long time.  And this can be reasons why some person invest. Some also use bitcoin to diversify and hedge against inflation .

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

Yes I completely agree with you. Especially for my country, Bitcoin is a blessing. Because my country's inflation has increased so much that it is beyond anyone's imagination. If everyone had kept all their money in Bitcoin from the beginning, then everyone would have benefited a lot. Some people have been heard saying that the product that was available for 100 Naira in 2020 is not available for 200 Naira now. Bitcoin is the only means that can save us from this danger and save us from being poor.

If the inflation rate starts increasing like this, then everyone will gradually start facing a worse situation. So one of the most reliable means to save from this danger is Bitcoin

[Halifat]

Every investor's number 1 goal is making profit.

Bitcoin is part of the best investment that we have, and there are different reasons why this is so.  And it is because of this reason that some persons ongoingly invest. Bitcoin can preserve the value of your money when person keep on investing it for long time.  And this can be reasons why some person invest. Some also use bitcoin to diversify and hedge against inflation .

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

In general it will be a very big disappointment if you decided to go to hold cash, because just as you said it will look huge in numbers but in terms of covering the expenses it's actually don't go anywhere, because it has been finished by inflation and that is why we should always invest instead of holding cash, a lot of people face the challenges you said, they have the money but in that process it was devalue which affected so many people.

Honestly bitcoin is a bless for us and it is not possible for us to compare holding Bitcoin and cash, when you are holding Bitcoin it will continue to grow and instead of cash to increase in value, it will continue to devalue because inflation and other things comes up.

[Soldroplet]

[Edited Out]

[Edited Out]

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

Yes I completely agree with you. Especially for my country, Bitcoin is a blessing. Because my country's inflation has increased so much that it is beyond anyone's imagination. If everyone had kept all their money in Bitcoin from the beginning, then everyone would have benefited a lot. Some people have been heard saying that the product that was available for 100 Naira in 2020 is not available for 200 Naira now. Bitcoin is the only means that can save us from this danger and save us from being poor.

If the inflation rate starts increasing like this, then everyone will gradually start facing a worse situation. So one of the most reliable means to save from this danger is Bitcoin

I disagree with your statement-"Bitcoin is the only way to save us from this danger and from becoming poor"  . Because Bitcoin can provide strong protection against inflation in the long run. However, I would not call it the only way to get out of poverty, because if someone does not have a regular income, proper management and backup funds, then he may be forced to sell Bitcoin if necessary. Therefore, it is equally important to build a strong financial foundation in addition to investing in Bitcoin. It is not that you will not profit by investing in Bitcoin, but Bitcoin does not guarantee you any profit. "If everyone had put all their money in Bitcoin from the beginning, then everyone would have profited a lot" - your sentence can be very confusing for beginners. I am not in favor of investing all their money in Bitcoin. No one knows for sure about the future, so I think it is risky to invest all their money in one asset. We need to invest in Bitcoin in such a way that our daily expenses, emergency fund and backup fund are intact. In my opinion, the smartest and best strategy is to invest in DCA method
with consistent discretionary income over the long term. For example, let’s say a person has a monthly income of 1,000$. After setting aside 900$ for all essential expenses and an emergency fund, he has 100$ in discretionary income. If he wants, he can regularly invest about 10$, 20$, or 50$ in DCA method (the number of investments is given as an example only). And it is much safer to adopt this method than investing all the money at once.

[ruykeri]

I do advise that when we are holding our Bitcoin, you should not allow what is happening around the internet serves as destruction to us, all we should concentrate more on is the target we are aiming, because it is always rewarding if we can continue in holding, all the fear of uncertainty demands are not what to be given attention to, knowing that when we hold, we stand to make more profit by so doing.

I don’t think there’s any need to be worrying about making profit if truly your goal is to hold long term. And besides, just because you’re holding bitcoin for long does not mean that profit is guaranteed for you even though we might have expectations of it, it is rather better for you to focus more on how to stay locked in with your investment than for you to be obsessing over profit. You might as well just go and do trading instead… since you’re looking for profit that is not guaranteed rather than hiding under the guise of being an investor.

In reality, an investor will invest in Bitcoin with the intention of making a profit. He will spend so much money and invest it for a long time without thinking about the profit. This is not realistic in any way. You can say that by holding Bitcoin for a long time, the amount of profit is more likely to be higher than by thinking about short-term profit and not making a decision to sell Bitcoin in short time price movement . Even after holding for a long time, there is no guarantee of profit. This is because nothing in Bitcoin gives a 100% guarantee. But if you compare the price of Bitcoin with the past, it is at least understood that Bitcoin has always been in a good position in the long term. Those who have held it patiently have been successful. So it should not be said that newbies are afraid to invest in Bitcoin. You may think that Bitcoin does not guarantee long-term profit. But many people believe that Bitcoin will provide them with financial security in the future. Therefore, in order to hold it for a long time, it is necessary to invest from discretionary income so that the Bitcoin holding does not have to be sold for personal needs.

[Merit.s]

For example, let’s say a person has a monthly income of 1,000$. After setting aside 900$ for all essential expenses and an emergency fund, he has 100$ in discretionary income. If he wants, he can regularly invest about 10$, 20$, or 50$ in DCA method (the number of investments is given as an example only). And it is much safer to adopt this method than investing all the money at once.

Don't make the mistake to share your income into three parts which is money for your basic needs and monthly expenses, emergency funds and discretionary income. That's not how to do the sharing formula. You are to only focus on taking care of your basic needs and monthly expenses first, any leftover is called your discretionary income which is from where you will get your discretionary income from.

As a brand new investor without any form of backup funds on ground. You are to share your discretionary income into three equal parts. 1/3 for your your weekly DCA, 1/3 for building your emergency funds and 1/3 for your discretionary consumption. DCA is more effective in ongoingly accumulation of bitcoin for a better experience and good investment growth overtime because you are always in the market buying and hodli.

[adultcrypto]

As a brand new investor without any form of backup funds on ground. You are to share your discretionary income into three equal parts. 1/3 for your your weekly DCA, 1/3 for building your emergency funds and 1/3 for your discretionary consumption. DCA is more effective in ongoingly accumulation of bitcoin for a better experience and good investment growth overtime because you are always in the market buying and hodli.

I don't know how you came to this division of the discretionary income into three parts for a new investor, as for me, I don't like too many rules to avoid information overload.  As long as a newbie has a discretionary income, what he only need to set up from there after investing some of it into bitcoin is the emergency funds. Gradually he can add more protective funds and even backup funds. I know your intentions of recommending that 3 parts division is genuine but adopting something that will later confuse the newbie is something that is totally not fine. You know that a lot of things can go wrong if the newbie is not careful with the type of information they process and implement. As long as they are using the DCA method and also set up emergency funds, then most of the problems that newbies face would have been solved.

[Proty]

As a brand new investor without any form of backup funds on ground. You are to share your discretionary income into three equal parts. 1/3 for your your weekly DCA, 1/3 for building your emergency funds and 1/3 for your discretionary consumption. DCA is more effective in ongoingly accumulation of bitcoin for a better experience and good investment growth overtime because you are always in the market buying and hodli.

I don't know how you came to this division of the discretionary income into three parts for a new investor, as for me, I don't like too many rules to avoid information overload.  As long as a newbie has a discretionary income, what he only need to set up from there after investing some of it into bitcoin is the emergency funds. Gradually he can add more protective funds and even backup funds. I know your intentions of recommending that 3 parts division is genuine but adopting something that will later confuse the newbie is something that is totally not fine. You know that a lot of things can go wrong if the newbie is not careful with the type of information they process and implement. As long as they are using the DCA method and also set up emergency funds, then most of the problems that newbies face would have been solved.

I don't think it is a must that a New investor or beginners must divide there discretionary income into three part before they can start accumulating bitcoin. However, it is not a wise decision if they decide to invest all there discretionary income into bitcoin because they need to set up an emergency funds that they can used to protect there investment during emergency.They can decide to share it in whatever ratio or way that is suitable to there financial situation. If dividing it into three equal parts is okay with the investor then there is nothing wrong with that

[JayJuanGee]

As a brand new investor without any form of backup funds on ground. You are to share your discretionary income into three equal parts. 1/3 for your your weekly DCA, 1/3 for building your emergency funds and 1/3 for your discretionary consumption. DCA is more effective in ongoingly accumulation of bitcoin for a better experience and good investment growth overtime because you are always in the market buying and hodli.

I don't know how you came to this division of the discretionary income into three parts for a new investor, as for me, I don't like too many rules to avoid information overload.  As long as a newbie has a discretionary income, what he only need to set up from there after investing some of it into bitcoin is the emergency funds. Gradually he can add more protective funds and even backup funds. I know your intentions of recommending that 3 parts division is genuine but adopting something that will later confuse the newbie is something that is totally not fine. You know that a lot of things can go wrong if the newbie is not careful with the type of information they process and implement. As long as they are using the DCA method and also set up emergency funds, then most of the problems that newbies face would have been solved.

I don't think it is a must that a New investor or beginners must divide there discretionary income into three part before they can start accumulating bitcoin.

If any newbie decides to invest into bitcoin, then they are already dividing their discretionary income into three parts, whether they think about it or not.  There are ONLY three ways that they can use their discretionary funds (invest, save and/or discretionarily consume).

However, it is not a wise decision if they decide to invest all there discretionary income into bitcoin because they need to set up an emergency funds that they can used to protect there investment during emergency.They can decide to share it in whatever ratio or way that is suitable to there financial situation. If dividing it into three equal parts is okay with the investor then there is nothing wrong with that

Of course, newbies can divide their proportions however the fuck they like. It does not have to be equal.  There is personal choice involved, especially when "discretionary" is already in the name.  Look up the word "discretionary." It means having the ability to choose and to use one's own judgement. 

I think that many times the 1/3 in each category is mentioned as an easy way for a newbie to decide how much to put into each category, yet in the end each person is likely way better off if they use their own actual brain (if they have one?) to pick amounts of their discretionary funds that are comfortable for their personal and specific situation and also allows them to not end up overdoing their allocation in one category or another.

[Finebone]

Don't make the mistake to share your income into three parts which is money for your basic needs and monthly expenses, emergency funds and discretionary income. That's not how to do the sharing formula. You are to only focus on taking care of your basic needs and monthly expenses first, any leftover is called your discretionary income which is from where you will get your discretionary income from.

Most newbies make this mistake of sharing their net income into different part without even taking care of their basic needs first, which Should be a priority, and after investing with part of it, they will later discover that they will need to sell some part of the Bitcoin already accumulated, so that they can address the pressing basic needs at hand. So in other to avoid the problem of miscalculation of our basic needs, addressing our basic needs first should be a priority, so that anything that is left, which is our discretionary income is what we should be investing with, so I agree with your sentiment about this because you are spot on with everything you said here.

[Rockson1]

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

This comparison is the reason why many people see Bitcoin as a very good investment, if anyone decides to hodl fiat perhaps in the bank or some of those savings apps that promised them of a particular interest rate for the time being that they want to hodl, I don't think that it is worth it because there is nothing interesting about that, fiat can only add value when it is been invested in Bitcoin and hodl for a long-term, it seems some people forget that fiat is inflationary in nature, so if anyone decides to go ahead with hodling it, it loses it value as inflation rises which will make it to lose it's purchasing strength, but no matter how Bitcoin prices dips, at some point it will rise even more than expected in the future, I'm one of those that agree with what you have said so far.

[Cossyblack]

When I compare holding Bitcoin to holding money in fiat especially my local currency, it becomes obvious that Bitcoin is such a blessing to us than we can imagine. If I take few years analysis, then someone who held Bitcoin those few years would have realized more than x10 of the value of their money if they held in Bitcoin because within few years, our currency depreciated so badly that many people who were above poverty line became poor and struggling to even meat basic needs. Anyone still doubting this blessing called Bitcoin at this point is definitely living in ignorance because with Bitcoin, you don't have to do anything, just hold and watch your money grow.

This is one of main reasons why people invest in bitcoin because they want to preserve the value of their wealth. Bitcoin is a store of value which is why some investors are holding bitcoin in order keep their wealth from depreciating in value overtime. However it is not a  breaking news that fiat currency has failed but bitcoin wouldn't not. Bitcoin is the best store of value it is the only reliable hedge against inflation that is why countries are diversifying into bitcoin. Investors are diversifying into bitcoin and holding it not because they are after profits but because they want to protect their wealth against inflation.

[Hardyrobust]

Don't make the mistake to share your income into three parts which is money for your basic needs and monthly expenses, emergency funds and discretionary income. That's not how to do the sharing formula. You are to only focus on taking care of your basic needs and monthly expenses first, any leftover is called your discretionary income which is from where you will get your discretionary income from.

Most newbies make this mistake of sharing their net income into different part without even taking care of their basic needs first, which Should be a priority, and after investing with part of it, they will later discover that they will need to sell some part of the Bitcoin already accumulated, so that they can address the pressing basic needs at hand. So in other to avoid the problem of miscalculation of our basic needs, addressing our basic needs first should be a priority, so that anything that is left, which is our discretionary income is what we should be investing with, so I agree with your sentiment about this because you are spot on with everything you said here.

it is a good thing for an investor to attend to there basic needs first before they invest in bitcoin because it will be a mistake if they mistakenly use money that is supposed to be used for there basic needs and then invest it in bitcoin. So before anyone can said this is there discretionary income, it must be left over cash after they have attended to there basic needs. Some people may end up making the mistake that there basic needs is always constant which may not be true. The best solution is to meet ones need, then whatever we have left can be use for buying bitcoin.

[Stalker22]

Don't make the mistake to share your income into three parts which is money for your basic needs and monthly expenses, emergency funds and discretionary income. That's not how to do the sharing formula. You are to only focus on taking care of your basic needs and monthly expenses first, any leftover is called your discretionary income which is from where you will get your discretionary income from.

Most newbies make this mistake of sharing their net income into different part without even taking care of their basic needs first, which Should be a priority, and after investing with part of it, they will later discover that they will need to sell some part of the Bitcoin already accumulated, so that they can address the pressing basic needs at hand. So in other to avoid the problem of miscalculation of our basic needs, addressing our basic needs first should be a priority, so that anything that is left, which is our discretionary income is what we should be investing with, so I agree with your sentiment about this because you are spot on with everything you said here.

Well, I do not agree.  Prioritizing basic needs sounds like common sense, but your approach is exactly why most people stay trapped in a paycheck-to-paycheck loop and never actually build wealth.  What I mean is - If you wait until you are comfortable to invest in Bitcoin, you will be waiting forever.

Instead of your model, the actual solution I personally prefer is "Paying Yourself First".  Here is how it works: The moment your paycheck hits your account, a fixed percentage (say, 10%) should automatically be swept into Bitcoin before you even look at your bills.  This means that you treat your investment like a non-negotiable bill.  This forces you to adapt, cut the fat, and manage your basic needs using only the remaining 85% to 90% of your income.

[Ojima-ojo]

For example, let’s say a person has a monthly income of 1,000$. After setting aside 900$ for all essential expenses and an emergency fund, he has 100$ in discretionary income. If he wants, he can regularly invest about 10$, 20$, or 50$ in DCA method (the number of investments is given as an example only). And it is much safer to adopt this method than investing all the money at once.

Don't make the mistake to share your income into three parts which is money for your basic needs and monthly expenses, emergency funds and discretionary income. That's not how to do the sharing formula. You are to only focus on taking care of your basic needs and monthly expenses first, any leftover is called your discretionary income which is from where you will get your discretionary income from.

As a brand new investor without any form of backup funds on ground. You are to share your discretionary income into three equal parts. 1/3 for your your weekly DCA, 1/3 for building your emergency funds and 1/3 for your discretionary consumption. DCA is more effective in ongoingly accumulation of bitcoin for a better experience and good investment growth overtime because you are always in the market buying and hodli.

Depending on the level of the urgency in the mind of the investor, that make them to set aside whatever amount they feels fall between they available funds that can be put into Bitcoin investment.


With my personal experience when I as a new investor years ago, what did was to declare emergency on my Bitcoin accumulation infact did not allocate any percentage of how much I invest into Bitcoin, sometimes I put in all my income without looking back and it worked out for me in the end.

[Stalker22]

~
With my personal experience when I as a new investor years ago, what did was to declare emergency on my Bitcoin accumulation infact did not allocate any percentage of how much I invest into Bitcoin, sometimes I put in all my income without looking back and it worked out for me in the end.

Thats awesome that it worked out for you, but honestly?  You got incredibly lucky.  Going "all in" like that is basically playing financial Russian roulette.

Most newbies who throw their entire paycheck into Bitcoin end up panicking and selling at a massive loss the second the market dips and rent is due.

Dont get me wrong, I was in that exact same headspace when I first got into this.  But looking back, I can admit it was pure financial recklessness and I would not recommend it at all.