How much think should be keep in mind when starting a Bitcoin investment ?

[Sim_card]

Understanding of Crypto tends abd also ecosystem helps allot . And taking about our hardware wallets that our security measures with 2FA it what to also consider. Making sure on staying updated on tech upgrade and most importantly beware of scammers thanks for this ur opinion Ninja

A long-term bitcoin investor don't need to understand crypto ecosystem because you don't have any business with that and I don't see how it will help you in growing your bitcoin portfolio since crypto means all the coins (bitcoin + shitcoins). You should only focus on buying bitcoin regularly and increasing your portfolio overtime so that you don't lose focus on reaching your bitcoin target.

A new investor should only keep learning more about bitcoin and his cash inflow so that he can tailor his weekly DCA based on his discretionary income and also look for ways to increase his income to enable him have more discretionary income in order for him to increase his DCA amount and continue buying weekly consistently and persistently for 4-10 years and above.

[Jubilee58]

You have really made good points here , with your knowledge of bitcoin investment, you can kick start your bitcoin Journey successfully.
While you are fully involved in the bitcoin investment, one thing you shouldn't forget is to keep yourself updated about the market trends, as a bitcoin investor, it is important you monitor your investment from time to time to enable you take the write decision and make necessary adjustment if their is any.

When it comes to security, choosing the right wallet is very necessary, but it doesn't end there, ensure your key phrase is safe and intact and more also avoid disclosing your bitcoin investment to friends and untrusted people, because it can lead to envy and attack on the investor.

[Jubilee58]

The truth is that, every one does not have thesame capacity when it comes to investing. While some will start big others will start small depending on investors financial strength. Sometimes some people will prefer buying Bitcoin once and store for a long time while some other person's will prefer  accumulating bitcoin little by little depending on investors financial strength and strategy.
On the whole, the profit you make as a Bitcoin investor doesn't only rely on the amount used for the investment, but a combination of amount of money, patience and strategy. When you deploy the right method of investing, your money will surely yield good profit in the long run.

[yixichloro2xx]

The truth is that, every one does not have thesame capacity when it comes to investing. While some will start big others will start small depending on investors financial strength. Sometimes some people will prefer buying Bitcoin once and store for a long time while some other person's will prefer  accumulating bitcoin little by little depending on investors financial strength and strategy.
On the whole, the profit you make as a Bitcoin investor doesn't only rely on the amount used for the investment, but a combination of amount of money, patience and strategy. When you deploy the right method of investing, your money will surely yield good profit in the long run.

I understand your point, but still I feel steady accumulation is better than buy once and hold. Lets take an example, if JB buys $5000 worth of Bitcoin at  the price of $50,000 and the price drop to $40000 that means they lose almost 20% of their money. But if you implement DCA approach through weekly buy, let's say Freddy invest  $200 weekly at different prices ranges like $60k, $50k, $40k, and $30k for 4 or more years, their average cost becomes lower. This reduce risk, unnecessary panicking due to price swings, and put Freddy in a better position and hold more Bitcoin than JB.

[Uhwuchukwu53]

As a beginner or newbie the level of knowledge or research you have made is enough to start engaging in Bitcoin investment because knowledge is built and never ending you starting from here can improve and advanced to higher stage of knowledge, one thing is certain provided you investment is on Bitcoin one thing I always maintain is weather your mindset is Long time holding never neglect information because it help in building strong mind and having some assurance and maturity as the happening in the market will makes you know more how the system works. Bitcoin knowledge is good as some investor is always confused with some changes in the market but resounding knowledge curve the shake or fear always.

[Xackie]

As a beginner or newbie the level of knowledge or research you have made is enough to start engaging in Bitcoin investment because knowledge is built and never ending you starting from here can improve and advanced to higher stage of knowledge, one thing is certain provided you investment is on Bitcoin one thing I always maintain is weather your mindset is Long time holding never neglect information because it help in building strong mind and having some assurance and maturity as the happening in the market will makes you know more how the system works. Bitcoin knowledge is good as some investor is always confused with some changes in the market but resounding knowledge curve the shake or fear always.

‎I agree with you on that. You don't need to know everything before you decide to invest in Bitcoin. Bitcoin is a neverending topic, more and more info comes up about it every time. So you will just be wasting your precious time by trying to learn everything, when you could have start investing right away. But there are some important things that a newbie should know like how wallets works, risk management, security (how keep their wallet phrase safe), volatility , how to figure out their DCA etc these are just basic knowledge that they should have at the back of their mind. Then when you begin your investment journey, you can start learning new information along the way. Long term holding is easier when you truly understand what you own. Information reduces fear because you know why price moves happen.

[JayJuanGee]

The truth is that, every one does not have thesame capacity when it comes to investing. While some will start big others will start small depending on investors financial strength. Sometimes some people will prefer buying Bitcoin once and store for a long time while some other person's will prefer  accumulating bitcoin little by little depending on investors financial strength and strategy.
On the whole, the profit you make as a Bitcoin investor doesn't only rely on the amount used for the investment, but a combination of amount of money, patience and strategy. When you deploy the right method of investing, your money will surely yield good profit in the long run.

I understand your point, but still I feel steady accumulation is better than buy once and hold. Lets take an example, if JB buys $5000 worth of Bitcoin at  the price of $50,000 and the price drop to $40000 that means they lose almost 20% of their money. But if you implement DCA approach through weekly buy, let's say Freddy invest  $200 weekly at different prices ranges like $60k, $50k, $40k, and $30k for 4 or more years, their average cost becomes lower. This reduce risk, unnecessary panicking due to price swings, and put Freddy in a better position and hold more Bitcoin than JB.

Let's be more specific in our example, and compare JB onetime buy (JB1) with JB DCA (JB2).  They both make about $30k per year, and they both started investing in BTC at a pretty reasonably good time about 2.5 years ago (around September 1, 2023).

JB1 (2023) bought $5k of bitcoin at $26.3k, and so he accumulated about 0.19 BTC.

JB2 (2023) bought $3k of BTC at $26.3k, and so he accumulated 0.114 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $13k into bitcoin, and he accumulated 0.2 BTC additional.  So, his total invested amount is $16k and he has 0.314 BTC.

Which of the guys would you rather be?

Right now, the results might not seem to be very different, yet with the passage of time, even after a couple of cycles, the results tend to add up to quite a bit of a difference.

What if we take them both back to 2019 and say that they were investing for nearly 7 years starting on May 1, 2019?

JB1(2019) bought $5.5k of bitcoin at $5.5k, and so he accumulated 1 BTC.

JB2(2019) bought $3.5k of BTC at $5.5k, and so he accumulated 0.6364 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $35.6k into bitcoin, and he accumulated 1.6 BTC additional.  So, his total invested amount is $39.1k and he has 2.2364 BTC.

Which of these 2019 guys would you rather be?

[yixichloro2xx]

The truth is that, every one does not have thesame capacity when it comes to investing. While some will start big others will start small depending on investors financial strength. Sometimes some people will prefer buying Bitcoin once and store for a long time while some other person's will prefer  accumulating bitcoin little by little depending on investors financial strength and strategy.
On the whole, the profit you make as a Bitcoin investor doesn't only rely on the amount used for the investment, but a combination of amount of money, patience and strategy. When you deploy the right method of investing, your money will surely yield good profit in the long run.

I understand your point, but still I feel steady accumulation is better than buy once and hold. Lets take an example, if JB buys $5000 worth of Bitcoin at  the price of $50,000 and the price drop to $40000 that means they lose almost 20% of their money. But if you implement DCA approach through weekly buy, let's say Freddy invest  $200 weekly at different prices ranges like $60k, $50k, $40k, and $30k for 4 or more years, their average cost becomes lower. This reduce risk, unnecessary panicking due to price swings, and put Freddy in a better position and hold more Bitcoin than JB.

Let's be more specific in our example, and compare JB onetime buy (JB1) with JB DCA (JB2).  They both make about $30k per year, and they both started investing in BTC at a pretty reasonably good time about 2.5 years ago (around September 1, 2023).

JB1 (2023) bought $5k of bitcoin at $26.3k, and so he accumulated about 0.19 BTC.

JB2 (2023) bought $3k of BTC at $26.3k, and so he accumulated 0.114 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $13k into bitcoin, and he accumulated 0.2 BTC additional.  So, his total invested amount is $16k and he has 0.314 BTC.

Which of the guys would you rather be?

Right now, the results might not seem to be very different, yet with the passage of time, even after a couple of cycles, the results tend to add up to quite a bit of a difference.

What if we take them both back to 2019 and say that they were investing for nearly 7 years starting on May 1, 2019?

JB1(2019) bought $5.5k of bitcoin at $5.5k, and so he accumulated 1 BTC.

JB2(2019) bought $3.5k of BTC at $5.5k, and so he accumulated 0.6364 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $35.6k into bitcoin, and he accumulated 1.6 BTC additional.  So, his total invested amount is $39.1k and he has 2.2364 BTC.

Which of these 2019 guys would you rather be?

JB 1 buy looks good in the eye , but still I would choose jb2. Yes JB 2 spent extra $35.6k to accumulate an extra 1.6Btc for 7 years (using 2019) , but if we look at it, he only used a small part of his salary which makes him avoid timing the market for dips, risks, volatility, and he won't be concerned about dips for 7 good years. But if JB 1 decides to accumulate that same 1.6Btc again as a one time buy depending on Bitcoin price, he would be spending over  $35k, which put him in a great risk  given his salary , so he won't be able to accumulate much Bitcoin (especially when BTC prices were over $40k) as that of JB 2. So JB1 was lucky to buy at a very cheap price then. But I would love to hear your own insight.

[Jubilee58]

The truth is that, every one does not have thesame capacity when it comes to investing. While some will start big others will start small depending on investors financial strength. Sometimes some people will prefer buying Bitcoin once and store for a long time while some other person's will prefer  accumulating bitcoin little by little depending on investors financial strength and strategy.
On the whole, the profit you make as a Bitcoin investor doesn't only rely on the amount used for the investment, but a combination of amount of money, patience and strategy. When you deploy the right method of investing, your money will surely yield good profit in the long run.

I understand your point, but still I feel steady accumulation is better than buy once and hold. Lets take an example, if JB buys $5000 worth of Bitcoin at  the price of $50,000 and the price drop to $40000 that means they lose almost 20% of their money. But if you implement DCA approach through weekly buy, let's say Freddy invest  $200 weekly at different prices ranges like $60k, $50k, $40k, and $30k for 4 or more years, their average cost becomes lower. This reduce risk, unnecessary panicking due to price swings, and put Freddy in a better position and hold more Bitcoin than JB.

Let's be more specific in our example, and compare JB onetime buy (JB1) with JB DCA (JB2).  They both make about $30k per year, and they both started investing in BTC at a pretty reasonably good time about 2.5 years ago (around September 1, 2023).

JB1 (2023) bought $5k of bitcoin at $26.3k, and so he accumulated about 0.19 BTC.

JB2 (2023) bought $3k of BTC at $26.3k, and so he accumulated 0.114 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $13k into bitcoin, and he accumulated 0.2 BTC additional.  So, his total invested amount is $16k and he has 0.314 BTC.

Which of the guys would you rather be?

Right now, the results might not seem to be very different, yet with the passage of time, even after a couple of cycles, the results tend to add up to quite a bit of a difference.

What if we take them both back to 2019 and say that they were investing for nearly 7 years starting on May 1, 2019?

JB1(2019) bought $5.5k of bitcoin at $5.5k, and so he accumulated 1 BTC.

JB2(2019) bought $3.5k of BTC at $5.5k, and so he accumulated 0.6364 BTC, and he also began to invest $100 per week into bitcoin, and so he invested an additional $35.6k into bitcoin, and he accumulated 1.6 BTC additional.  So, his total invested amount is $39.1k and he has 2.2364 BTC.

Which of these 2019 guys would you rather be?

I equally understand the direction you are going and based on your illustration here, I will rather choose to be JB2, because after the initial investment and purchase, JB2 continued with regular accummulation of bitcoin , spending $100 weekly and has better investment strategy than JB1. I also admit that periodic accummulation of bitcoin is a better strategy than buying once because when you  buy Bitcoin periodically, you buy both when the market is high and when the price is low , enabling you to balance your investment.

[ruykeri]

As a beginner or newbie the level of knowledge or research you have made is enough to start engaging in Bitcoin investment because knowledge is built and never ending you starting from here can improve and advanced to higher stage of knowledge, one thing is certain provided you investment is on Bitcoin one thing I always maintain is weather your mindset is Long time holding never neglect information because it help in building strong mind and having some assurance and maturity as the happening in the market will makes you know more how the system works. Bitcoin knowledge is good as some investor is always confused with some changes in the market but resounding knowledge curve the shake or fear always.

To start investing in Bitcoin, you must have the ability to know and have discretionary income. It is not possible to gain complete knowledge. Because the more you go deeper into knowing something, the more you will find the largest scope of knowledge. And it is important to start investing in Bitcoin through discretionary funds. If you continue to do DCA, your knowledge and experience will increase with time. Because knowledge develops gradually and there is no end to it. Starting from here, you can gradually gain higher level knowledge. In the future, you will be able to make the right decisions with time.

[JayJuanGee]

[edited out]

JB 1 buy looks good in the eye , but still I would choose jb2. Yes JB 2 spent extra $35.6k to accumulate an extra 1.6Btc for 7 years (using 2019) , but if we look at it, he only used a small part of his salary which makes him avoid timing the market for dips, risks, volatility, and he won't be concerned about dips for 7 good years. But if JB 1 decides to accumulate that same 1.6Btc again as a one time buy depending on Bitcoin price, he would be spending over  $35k, which put him in a great risk  given his salary , so he won't be able to accumulate much Bitcoin (especially when BTC prices were over $40k) as that of JB 2. So JB1 was lucky to buy at a very cheap price then. But I would love to hear your own insight.

I am always advocating for the ongoing accumulation of bitcoin, yet guys still have to figure out when they got enough bitcoin or if they think that there are reasons for them to modify their buying approach, which surely, even a guy who invests $100 per week, he might have some weeks that he might not be able to buy bitcoin and perhaps other weeks where he might be able to buy $500 or $1k worth of bitcoin.  There should be a goal to get to overaccumulation status, event though it could take 10 years or more for some guys.

[edited out]

I equally understand the direction you are going and based on your illustration here, I will rather choose to be JB2, because after the initial investment and purchase, JB2 continued with regular accummulation of bitcoin , spending $100 weekly and has better investment strategy than JB1. I also admit that periodic accummulation of bitcoin is a better strategy than buying once because when you  buy Bitcoin periodically, you buy both when the market is high and when the price is low , enabling you to balance your investment.

I doubt that there is a goal to balance the investment, even though I think that there should be a goal to make sure that the investment is balanced with the amount of money that is available each week.  In the examples, I used $100 per week just to make it easier to calculate.

[Umulala-alala]

If you have know that you have a discretionary income to invest you can invest because i can't say mentioned any amount of money that someone need to have before they can start investing in BTC, i believe that people invest in bitcoin base on their financial strength, the most important thing is that you are buying bitcoin even though you can buying in a smaller unit doing that consistently and persistently for a longer years will give you a good bitcoin portfolio in the future.

[Yablee0]

If you have know that you have a discretionary income to invest you can invest because i can't say mentioned any amount of money that someone need to have before they can start investing in BTC, i believe that people invest in bitcoin base on their financial strength, the most important thing is that you are buying bitcoin even though you can buying in a smaller unit doing that consistently and persistently for a longer years will give you a good bitcoin portfolio in the future.

You are there bro, you don't need to keep waiting  till you have got every money in the world before investing in Bitcoin, no specific amount is required perhaps with just with the little at hand you can make it work and start building something meaningful. However bitcoin investment has proven to be more easy and accommodating to every investor regardless your financial strength.

I can recall way back when I was newly in the game I once asked this same question by the Op (how much did you need before investing), which I was properly addressed and by doing what I was told, today by his Grace am doing better in my investment journey .

[Berry2d]

If you have know that you have a discretionary income to invest you can invest because i can't say mentioned any amount of money that someone need to have before they can start investing in BTC, i believe that people invest in bitcoin base on their financial strength, the most important thing is that you are buying bitcoin even though you can buying in a smaller unit doing that consistently and persistently for a longer years will give you a good bitcoin portfolio in the future.

You are there bro, you don't need to keep waiting  till you have got every money in the world before investing in Bitcoin, no specific amount is required perhaps with just with the little at hand you can make it work and start building something meaningful. However bitcoin investment has proven to be more easy and accommodating to every investor regardless your financial strength.

I can recall way back when I was newly in the game I once asked this same question by the Op (how much did you need before investing), which I was properly addressed and by doing what I was told, today by his Grace am doing better in my investment journey .

Yes I agree to that there is no specific amount recognised for bitcoin investment but depends heavily on financial capability,  mine financial strength may  not be same as yours and yours different from mine so the best investment approach is investing when you think it time for you to do so. In bitcoin investment it is better to invest with what you think is okay by you and not wait as instructed by someone else because know one knows what its price would be tomorrow.  Some invested earlier this year when its dropped price with hope its price may have increased by now yet its price is still reducing, who knows if after investing today what will become the outcome tomorrow,  so to be on safer side the best approach is to invest with the little you have and not wait for tomorrow.

[Agbe]

There is no specific amount of money that is required to keep aside when buying bitcoin, bitcoin investments is about having a discretionary income, then you have a discretionary income you can start buying bitcoin immediately as little as the money available, you can always buy bitcoin little by little and if maybe you have a large amount of discretionary income then you can start buying bitcoin, possibly you can still be buying bitcoin with $50 cents maybe on a weekly basis considering what you have available after paying for your weekly or monthly basic expenses.

I absolutely agree with you, there is no fixed amount required the most important thing is your plan or budget, you can even use the DCA method as you suggested to accumulate your investment, it's all about starting from somewhere. A lot of people think that they cannot invest until they have a large amount of money and they more they keep on waiting they end up not investing anything at all.

[Don Saga]

There is no specific amount of money that is required to keep aside when buying bitcoin, bitcoin investments is about having a discretionary income, then you have a discretionary income you can start buying bitcoin immediately as little as the money available, you can always buy bitcoin little by little and if maybe you have a large amount of discretionary income then you can start buying bitcoin, possibly you can still be buying bitcoin with $50 cents maybe on a weekly basis considering what you have available after paying for your weekly or monthly basic expenses.

I absolutely agree with you, there is no fixed amount required the most important thing is your plan or budget, you can even use the DCA method as you suggested to accumulate your investment, it's all about starting from somewhere. A lot of people think that they cannot invest until they have a large amount of money and they more they keep on waiting they end up not investing anything at all.

It's not always as easy as we say, not everyone has a stable income that makes DCA method easy, so it becomes a bit inconsistent and over time the zeal and passion for investment dies off. We can all agree DCA method is the best method for long term investment but we cannot totally rule out the aspect of consistency in investments.

[Alonso_]

You don’t need to have a specific amount in mind like the way you put it right now, what you just need is having a discretionary income, mind you, you’re not investing from your savings or money meant for your expenses, which is why you might not have a specific amount in mind, instead what you need is a discretionary amount, considering that you have a discretionary amount available for yourself, you can then be buying bitcoin on a consistent and regular basis, so for example after paying for all your bills and expenses let me assume that you have a discretionary income in the amount of whatever leftover that is where you should be buying bitcoin from instead of thinking of a specific amount to buy bitcoin from, you buy immediately when you have available amount of discretionary income.

[Xackie]

There is no specific amount of money that is required to keep aside when buying bitcoin, bitcoin investments is about having a discretionary income, then you have a discretionary income you can start buying bitcoin immediately as little as the money available, you can always buy bitcoin little by little and if maybe you have a large amount of discretionary income then you can start buying bitcoin, possibly you can still be buying bitcoin with $50 cents maybe on a weekly basis considering what you have available after paying for your weekly or monthly basic expenses.

I absolutely agree with you, there is no fixed amount required the most important thing is your plan or budget, you can even use the DCA method as you suggested to accumulate your investment, it's all about starting from somewhere. A lot of people think that they cannot invest until they have a large amount of money and they more they keep on waiting they end up not investing anything at all.

It's not always as easy as we say, not everyone has a stable income that makes DCA method easy, so it becomes a bit inconsistent and over time the zeal and passion for investment dies off. We can all agree DCA method is the best method for long term investment but we cannot totally rule out the aspect of consistency in investments.

Well thats true, not everyone that usually have stable income. But do you know that one of the power of DCA is it's flexibility. You can adjust the DCA to match your cash flow. Maybe you initial plan was to do weekly or monthly accumulation but since you don't stable income you can go bi weekly or bi monthly. Invest only after you receive income, not before.
‎
‎You should also set a percentage on whatever you earn, like 5%-10% (if your income is small) instead of a fixed amount. With that when your income is high you invest more, and when it’s low you invest less.

[ZeroVinsonN]

There is no specific amount of money that is required to keep aside when buying bitcoin, bitcoin investments is about having a discretionary income, then you have a discretionary income you can start buying bitcoin immediately as little as the money available, you can always buy bitcoin little by little and if maybe you have a large amount of discretionary income then you can start buying bitcoin, possibly you can still be buying bitcoin with $50 cents maybe on a weekly basis considering what you have available after paying for your weekly or monthly basic expenses.

I absolutely agree with you, there is no fixed amount required the most important thing is your plan or budget, you can even use the DCA method as you suggested to accumulate your investment, it's all about starting from somewhere. A lot of people think that they cannot invest until they have a large amount of money and they more they keep on waiting they end up not investing anything at all.

It's not always as easy as we say, not everyone has a stable income that makes DCA method easy, so it becomes a bit inconsistent and over time the zeal and passion for investment dies off. We can all agree DCA method is the best method for long term investment but we cannot totally rule out the aspect of consistency in investments.

Well thats true, not everyone that usually have stable income. But do you know that one of the power of DCA is it's flexibility. You can adjust the DCA to match your cash flow. Maybe you initial plan was to do weekly or monthly accumulation but since you don't stable income you can go bi weekly or bi monthly. Invest only after you receive income, not before.
‎
‎You should also set a percentage on whatever you earn, like 5%-10% (if your income is small) instead of a fixed amount. With that when your income is high you invest more, and when it’s low you invest less.

The amount of money s person needs to DCA with doesn't necessarily have to be steady, it's all dependent on how much you are earning as a person, what you earn determines how much of it goes to discretionary which determines what you are able to invest in bitcoin with. If you are investing weekly then depending on how much your earn you can invest a particular amount in the first week and then invest 150% of it in the second week and then do 75% of it the third week, what matters is that you have the funds to invest with available and you can invest it.

[Sim_card]

It's not always as easy as we say, not everyone has a stable income that makes DCA method easy, so it becomes a bit inconsistent and over time the zeal and passion for investment dies off. We can all agree DCA method is the best method for long term investment but we cannot totally rule out the aspect of consistency in investments.

I see it as the opposite for a serious investor who understands that bitcoin is a store of value overtime and is ready to accumulate to increase his bitcoin portfolio overtime. If you don't have a consistent discretionary income is because you are not financially buoyant. Therefore, the investor will continue looking for a second means of income as he has started his bitcoin investment, so that he can be able to use the funds from his second means of income as his discretionary income and invest consistently with DCA for 4-10 years and above till he reaches his bitcoin goal.

Only an unserious investor will get discouraged to continue his bitcoin investment because he is not buying consistently instead of looking for a means to increase his income. He will end up staying poor even at old age.