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

[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.

You are right. There is no specific minimum amount when we invest. You can start with a small amount of discretionary income, understanding your financial capacity. So I think the question when we invest is not how much, but how and with what mentality we are investing, which is the most important.

We need to be aware of our cash flow. Many of us start investing right away but do not keep track of monthly income and expenses. Since Bitcoin is a highly volatile asset, we should buy it with money that we will not need in the short term. Otherwise, there is a risk of panic selling when the market falls. Which can defeat the long-term strategy.

We should invest consistently according to our capacity + long-term perspective + risk control. Together, these can be our real basis for building a sustainable portfolio.

As long as you have discretionary income you can start buying bitcoin, saying we should buy with the income that we won't need in a short time still shows that we can't afford to loss the money and it's gambling let it be money that you can afford to loss totally without continue murmuring about it if things doesn't work as plan use money that if even BTC goes down you will just move on because you use money that even though anything happens to bitcoin it won't get you affect, same thing to bet gambling too i also stake with money that i can let go if i loss.

[Cgrexp]

[edited out]

I’ve been wanting to ask this question, is it possible for investors to go into mutual funds investments in chin bitcoin?

Paper bitcoin are not the same as real bitcoin... so it is good to keep that in mind whenever you are dealing with paper bitcoin products.

I tend to try to suggest that if guys are going to fuck around with trading, shitcoins, keeping some bitcoin on exchanges, and/or other variations of paper bitcoin products, that they should try to figure out limitations on those various products.. even though surely some folks get blinded by the various perks of something like paper bitcoin that might offer yield, tax benefits and/or also acceptability by the powers that be that see you as using their officially endorsed fake bitcoin.
So, yeah, each of us has to figure out our balances, and hopefully we are holding a sufficient amount of actual bitcoin rather than getting lured into inferior and frequently fake bitcoin products that may or may not be backed up by actual bitcoin as well as other shenanigans that the custodians of those various fake products engage in to manipulate bitcoin prices with various fake products... so, yeah, how much does any of us want to participate in such fake products that are used to manipulate bitcoin prices and to also track and control us and to try to dissuade us from being able to employ actual self-sovereignty (and financial sovereignty) with the value that we had worked hard to obtain and/or to hang onto once we acquired it..

Everyone has to decide their own financial balance but it's worth being trueful about the trade offs if the aim is sovereignty then custody matters a lot . If the objective is speculations short term convenience that's a conversational, I get what your be opinion loud and clear convenience and regulations definitely making some of these products look attractive at first glance at the of the day there is a big difference between exposure to price and actually holding your own businesses.

It is important to balance your theory with your practice when investing in Bitcoin. It can take years to develop consistent buying and strong cash flow management, which gives you the ability to put your ideas into practice and argue. Those who practice consistently will be able to balance their strategies and competitive interests reasonably, considering their personal budget, time, and constraints.

[kanftka]

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.
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‎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.

Exactly, DCA is not about forcing one fixed amount every single time like it is a law.  Real life does not work like that. Income do fluctuate, unexpected expenses can even show up, sometimes you earn more, sometimes less.  So adjusting your DCA based on what you actually earn makes sense.

And yes I also think the real strength of DCA is the consistency, even if one week you do 150%, next week 75%, it might slow things yes, but as long as you’re consistent with that, without it affecting you then you’re good. The whole idea is to remove overthinking and market timing.

[Hypnotizer]

Exactly, DCA is not about forcing one fixed amount every single time like it is a law.  Real life does not work like that. Income do fluctuate, unexpected expenses can even show up, sometimes you earn more, sometimes less.  So adjusting your DCA based on what you actually earn makes sense.

That’s what every newbie starting or planing to start DCA NCA is supposed to keep in mind but I’m sure most people mistake this…and instead they think it must be a fix amount and when anything happens and the money isn’t up to the amount they set, they might even refuse to invest for that week or month and start postponing it eventually losing the real focus and consistency in their investment.

And yes I also think the real strength of DCA is the consistency, even if one week you do 150%, next week 75%, it might slow things yes, but as long as you’re consistent with that, without it affecting you then you’re good. The whole idea is to remove overthinking and market timing.

That’s the basics…It’s all about consistency, the amount doesn’t matter much but the consistency to always turn up and invest with certain interval does..

[Grace333]

Exactly, DCA is not about forcing one fixed amount every single time like it is a law.  Real life does not work like that. Income do fluctuate, unexpected expenses can even show up, sometimes you earn more, sometimes less.  So adjusting your DCA based on what you actually earn makes sense.

That’s what every newbie starting or planing to start DCA NCA is supposed to keep in mind but I’m sure most people mistake this…and instead they think it must be a fix amount and when anything happens and the money isn’t up to the amount they set, they might even refuse to invest for that week or month and start postponing it eventually losing the real focus and consistency in their investment.

Provided they set their minds on long term investment goal consistency should be their focus and just like kanftka said, irrespective of how much they earn maybe due to fluctuating salary they still should figure our how much is left as discretionary and invest from there, the major idea there is never give up the process. There is a saying that nothing good comes in handy, the discouragement of having to invest smaller amount when you earn small might kick in but never forget that accumulation bitcoin should be at your own pace and convenience, and the DCA strategy helps you to achieve that.

[Cgrexp]

Provided they set their minds on long term investment goal consistency should be their focus and just like kanftka said, irrespective of how much they earn maybe due to fluctuating salary they still should figure our how much is left as discretionary and invest from there, the major idea there is never give up the process. There is a saying that nothing good comes in handy, the discouragement of having to invest smaller amount when you earn small might kick in but never forget that accumulation bitcoin should be at your own pace and convenience, and the DCA strategy helps you to achieve that.

It is important to maintain consistency when investing for the long term, but a person can maintain it for the long term only when he can determine a realistic amount of investment considering his income and at the same time meet all his needs normally. The most important thing in the long term is to continue the process consistently, the investment amount is not the main thing here. We all know that even if it is only $ 10, anyone can invest in Bitcoin. So it is not right to look down on small amounts of money, everyone can invest comfortably from their own place according to their ability.

[Xackie]

Provided they set their minds on long term investment goal consistency should be their focus and just like kanftka said, irrespective of how much they earn maybe due to fluctuating salary they still should figure our how much is left as discretionary and invest from there, the major idea there is never give up the process. There is a saying that nothing good comes in handy, the discouragement of having to invest smaller amount when you earn small might kick in but never forget that accumulation bitcoin should be at your own pace and convenience, and the DCA strategy helps you to achieve that.

It is important to maintain consistency when investing for the long term, but a person can maintain it for the long term only when he can determine a realistic amount of investment considering his income and at the same time meet all his needs normally. The most important thing in the long term is to continue the process consistently, the investment amount is not the main thing here. We all know that even if it is only $ 10, anyone can invest in Bitcoin. So it is not right to look down on small amounts of money, everyone can invest comfortably from their own place according to their ability.

That consistency is where most investors fails, it could be as a result of laziness, lack of funds due to improper planning and weak conviction. If someone wants to be consistent in their accumulation,  they must understand that the process takes time and your funds that are to be used for accumulating shouldn't be from money meant for daily needs. Many people start with excitement, but after some time the motivation fades, especially when the price isn't moving in the direction they expected. That's what separate a serious investor from a casual participant who loses interest and stop accumulating

[Cossyblack]

That consistency is where most investors fails, it could be as a result of laziness, lack of funds due to improper planning and weak conviction. If someone wants to be consistent in their accumulation,  they must understand that the process takes time and your funds that are to be used for accumulating shouldn't be from money meant for daily needs. Many people start with excitement, but after some time the motivation fades, especially when the price isn't moving in the direction they expected. That's what separate a serious investor from a casual participant who loses interest and stop accumulating

I think what results to lack of consistency is lack of discretionary income. If an investor wants to be consistent with their accumulation, they shouldn't stay idle they must look for something that would earn them money no matter how small. Why it is important for them to have a reliable source of income is because they can figure out discretionary income to invest consistently in bitcoin. If they're idle and without any means of making money, they would be setbacks in their accumulation and they can't be consistently and persistently accumulate bitcoin.

[L E G E N D A R Y]

It doesn't matter how much one has in hand to start investing in Bitcoin but how prepared one is to navigate their way of serving in the journey, as most people are not concerned to get knowledge of investment before deciding to start, which makes a lot of them to make mistake that will ruin their plans. Which is why it is better for one to get the basic understanding before acting on their decision.

[JayJuanGee]

It doesn't matter how much one has in hand to start investing in Bitcoin but how prepared one is to navigate their way of serving in the journey, as most people are not concerned to get knowledge of investment before deciding to start, which makes a lot of them to make mistake that will ruin their plans. Which is why it is better for one to get the basic understanding before acting on their decision.

Basic understanding of what?

How to count if they have an extra $100 or $10 in their pocket that they can spare to get started and to buy bitcoin with it?

What else does the beginner need to know in order to get started?

Think about it. One thing is getting started, and another thing is continuing.  Those might be different questions.

Let's say that he has a $30k income per year ($2,500 per month) with $1,500 basic expenses.  That leaves $1k per month in discretionary income.

Is the guy able to decide what he wants to do with his discretionary funds?

Do you want to presume some other numbers?  Or you want to presume that he does not know his discretionary funds?

Or maybe you are saying that there is something specifically that he needs to know about bitcoin?

I would suggest that if he hardly knows shit about bitcoin, then maybe he starts out with $10 rather than $100, but in the example that I just gave, he has $1k available, no?

[Sim_card]

I would suggest that if he hardly knows shit about bitcoin, then maybe he starts out with $10 rather than $100, but in the example that I just gave, he has $1k available, no?

I think it will be very unserious of him to start out very whimpily in accumulating with $10 because it will take him nowhere, since he has a big discretionary income of $1k. I think if he wants to start investing because he only has the basic knowledge of bitcoin and lacks confidence in bitcoin, he can start out with $100 in his first year or more while he builds his confidence in bitcoin.

He can be putting $600 into building his emergency funds and $300 for his discretionary consumption. As time passes by and he has gained confidence in bitcoin, he can increase his DCA purchases to $450 and put $400 and $150 into discretionary consumption till he is done in building his emergency funds. He can increase his DCA amount and invest aggressively.

[Alonso_]

You don’t need to have a specific amount in mind before you can start buying bitcoin, all you can do is after paying for your bills and expenses, then you realize you have a discretionary income you can start buying little by little instead of wanting to buy with all your money, you’re only meant to buy bitcoin when you’ve a discretionary income. However if you have figured out all your expenses and you know that you have a particular amount of money that is left for you to keep buying bitcoin, I believe you should use that leftover money to keep buying bitcoins either on a weekly basis or on monthly basis depending when you have availability of discretionary income and when your cashflow comes then you can keep buying and accumulating bitcoin.

[Yablee0]

What else does the beginner need to know in order to get started?

If the beginner is waiting or expecting to know it all before investing in Bitcoin then it's actually a long story because learning has always been a continuous process and not something that will just happen within a short period of time. As a newbie or a new investor all you need to get started is just your discretionary funds, it doesn't matter how huge or small it's so far as it's what is being figured out after every expensive is being settled you hundred percent cool.

However these are some of the perceptions that has hinder so many people from investing because they always want to believe that since they are not that conversant with Bitcoin and it dealings they can't make it but little did they know that Bitcoin is not a die hard game that you must know to it core before investing, perhaps with just with your discretionary funds and with little discipline you're there.

[ZeroVinsonN]

It doesn't matter how much one has in hand to start investing in Bitcoin but how prepared one is to navigate their way of serving in the journey, as most people are not concerned to get knowledge of investment before deciding to start, which makes a lot of them to make mistake that will ruin their plans. Which is why it is better for one to get the basic understanding before acting on their decision.

Harrison Ford is a movie legend today but once upon a time he was a carpenter, what's funny was that he was working right from the manuals with no formal training before hand, he was learning as he was working and his big break in the movie industry probably came from one of the connections he made from there, the point is that you don't need to know every to start bitcoin investment, you can learn along the way and that's why you invest with your discretionary income, you can afford to lose it if something goes wrong, start small and with more knowledge you can increase how much you invest.

[ejikeme24]

What else does the beginner need to know in order to get started?

However these are some of the perceptions that has hinder so many people from investing because they always want to believe that since they are not that conversant with Bitcoin and it dealings they can't make it but little did they know that Bitcoin is not a die hard game that you must know to it core before investing, perhaps with just with your discretionary funds and with little discipline you're there.

Yes, this feeling is very common among beginners some beginners might be thinking that the basic knowledge is not enough for them to get started and then they will be waiting to get the full knowledge about bitcoin before getting started, I feel that they are just being extra careful to avoid making unnecessary mistake but the problem is there's no way they can learn everything about bitcoin investment unless they get started so to avoid wasting our time in trying to learn everything the basic knowledge is suppose to be enough for us then as time goes on or as we keep accumulating bitcoin that's the more we are learning new things.

[Crytohillss]

It doesn't matter how much one has in hand to start investing in Bitcoin but how prepared one is to navigate their way of serving in the journey, as most people are not concerned to get knowledge of investment before deciding to start, which makes a lot of them to make mistake that will ruin their plans. Which is why it is better for one to get the basic understanding before acting on their decision.

Basic understanding of what?

How to count if they have an extra $100 or $10 in their pocket that they can spare to get started and to buy bitcoin with it?

What else does the beginner need to know in order to get started?

Think about it. One thing is getting started, and another thing is continuing.  Those might be different questions.

Let's say that he has a $30k income per year ($2,500 per month) with $1,500 basic expenses.  That leaves $1k per month in discretionary income.

Is the guy able to decide what he wants to do with his discretionary funds?

Do you want to presume some other numbers?  Or you want to presume that he does not know his discretionary funds?

Or maybe you are saying that there is something specifically that he needs to know about bitcoin?

I would suggest that if he hardly knows shit about bitcoin, then maybe he starts out with $10 rather than $100, but in the example that I just gave, he has $1k available, no?

Getting started with Bitcoin investment isn't really about the actual  amount it's about  knowing what you are getting into if people barley knows anything about it , beginning with $10 actually makes sense it removes the pressure while  they learn how wallets work how purchasing and sending works and how volatile the price can be, once  people are comfortable they can gradually increase the amount of anyone truly has $1k in discretionary income like your example then even getting a little percentage of that into Bitcoin regularly wouldn't hurt , is not jumping in blindly but taking time to learn and only investing what you are comfortable leaving untouched for a while.

[JayJuanGee]

I would suggest that if he hardly knows shit about bitcoin, then maybe he starts out with $10 rather than $100, but in the example that I just gave, he has $1k available, no?

I think it will be very unserious of him to start out very whimpily in accumulating with $10 because it will take him nowhere, since he has a big discretionary income of $1k.

Of course, you are not wrong in proclaiming that $10 would be whimpy giving the size of the discretionary funds that are available, yet it seems to me that our ongoing push for guys to get the fuck started should not get in the way of their ability to choose their level of aggressiveness (or whimpiness), and surely I personally would like to leave way more latitude for guys to get started and even to get started in a whimpy way, since it seems to me that once they put systems in place, then at least at that point they have options and they can choose their level .. and my own assertion that guys should attempt to be as aggressive as they are able to be without overdoing it is not trying to tell them what to do, even though I am making a recommendation regarding what I believe to be a preferable approach, especially with something like bitcoin.

Another thing is that levels of whimpiness and/or aggressive can have a lot of personal reasons for changing, and surely guys have ongoing competing interest that can reasonably cause them to change their priorities - yet if they have at least gotten started, and maybe even if they invest in bitcoin for a few months, and then just leave it there, they still may end up in a decent place, as long as they don't end up cashing out... and just let their bitcoin ride, even if they end up losing focus and getting distracted into other matters... accordingly, there are levels to the kinds of errors that guys can end up making in regards to their ongoing choices about how aggressive they think that they need to ongoingly be in regards to their bitcoin holdings based on changes in their personal circumstances, that includes assessments about the size of their bitcoin and their assessments if they have enough or not (which they could end up concluding wrong, but if they had at least started, then at least they have systems in place and some level of familiarity with bitcoin rather than the status of many no coiners who have no fucking clue about bitcoin, even though they still might have some opinions about it (that are likely to be wrong).

I think if he wants to start investing because he only has the basic knowledge of bitcoin and lacks confidence in bitcoin, he can start out with $100 in his first year or more while he builds his confidence in bitcoin.

Sure.  That would be completely reasonable given the facts (the hypothetical), yet it remains my own personal position that there is a wide-range of reasonable that exists between each of us, and each of us needs to figure out our level of reasonable, even if we might get it wrong from time to time. 

If I met the person in real life, then maybe I could assess if such person needs more help, such if the person were to be real young and immature, or if the person might be mentally challenged, but I am not going to presume anyone to be lacking in common sense.. so I need to presume common sense to exist within at least 97% of the adult population, even if they might need to practice their common sense and put their common sense into practice, which my pointing out to them to get the fuck started seems to be enough, and they have to take responsibility over how aggressive they choose to be or not, and surely if they choose whimpy and then adapt into more aggressive, then there is nothing wrong with that, yet surely there are some folks that will never advance out of their chosen whimpy status, and surely they will have to suffer down the road, when they are not able to repeat their previous 10 years.

By the way, I know some otherwise quite intelligent people who have been saving up to buy a house for 20 years.. perhaps even longer.  So they have 100s of thousands of dollars in cash (some kind of an interest bearing bond), and they are ongoingly losing money on their bond because the money is debased faster than they can add to their funds.. which really seems retarded.. and people do really dumb things sometimes, yet they have to be responsible for their level of dumb... especially if we might have had done our part and said to them, "have you thought about looking into bitcoin?"  I doubt that I have much of a further obligation, even though I feel bad for such people that surely exist.. but they have to figure out their allocations...even if they are seeming to be ongoingly concluding based on faulty presumptions.

He can be putting $600 into building his emergency funds and $300 for his discretionary consumption. As time passes by and he has gained confidence in bitcoin, he can increase his DCA purchases to $450 and put $400 and $150 into discretionary consumption till he is done in building his emergency funds. He can increase his DCA amount and invest aggressively.

Of course, what you say seems way smarter, and sure I might make such a suggestion to such a guy, too.. but the guy has to figure out his own level of aggressiveness (or whimpiness) and be able to stick with whatever plan he makes (and whatever actions he chooses to take as a result of his plan).

By the way, one of the points that I was trying to emphasize with my $10 example was that there certainly should be an amount that any of us should be able to start investing into bitcoin without giving too many shits about it and without having much if any knowledge at all.  So that example was to point out an amount that was not zero and also it could be increased in accordance with the level of knowledge and/or comfort increasing. Guys come to bitcoin with all kinds of levels of knowledge and experiences, and they may well come with absolutely nothing or very little, so they have to build up their knowledge and their experiences... Other guys might have experiences in cashflow management, but no experiences in bitcoin, and even other people might have had already been studying bitcoin and bitcoin related matters without considering investing in it, yet perhaps all of a sudden they might consider that maybe they should invest in it... ..

[Dzwaafu11]

As a newbie, your writing maturity is a bit more organized and seems to be as experienced as the older members. However, you have discussed almost everything about emergency funds, discretionary income, hedge funds. Not only that, you have also discussed backup plans and diversification, that is, you need to have other income sources or jobs instead of relying on a single source of Bitcoin. In short, you have mentioned everything about investing fairly completely and thoroughly, leaving nothing for us. So, if you put into practice what has been said and what has been discussed here, it is possible to become a good investor.

Na wetin just they bedat. The op don already talk wetin any other person go fit talk, nothing really remain again, na to just add up somethings base on say na newbie the guy still be, him go still need some knowledge about wetin him they try learn.

However, I they sure say the way him take explain everything he be like who already understand any way wey him fit follow to be successful for Bitcoin investment, I just hope say him go work with wetin him write na the most important thing bedat.

[Kryptonite788]

What else does the beginner need to know in order to get started?

However these are some of the perceptions that has hinder so many people from investing because they always want to believe that since they are not that conversant with Bitcoin and it dealings they can't make it but little did they know that Bitcoin is not a die hard game that you must know to it core before investing, perhaps with just with your discretionary funds and with little discipline you're there.

Yes, this feeling is very common among beginners some beginners might be thinking that the basic knowledge is not enough for them to get started and then they will be waiting to get the full knowledge about bitcoin before getting started, I feel that they are just being extra careful to avoid making unnecessary mistake but the problem is there's no way they can learn everything about bitcoin investment unless they get started so to avoid wasting our time in trying to learn everything the basic knowledge is suppose to be enough for us then as time goes on or as we keep accumulating bitcoin that's the more we are learning new things.

If beginner fear of making mistakes it can help to start with smaller figures as $5 even if more discretionary income is there.
Small figures removes pressure and help feel more comfortable to learn and understand other things to learn about Bitcoin.
If done learning what needs to be learnt the figure should be progressively increased.

[POPOLUV]

I vividly understand the fact that an investors that doesn't plan very well at the beginning of his investment end up failing within the middle or at the very initial investment, so it is not bad idea for beginners to have plan on the exactly amount as a discretionary income to be used when ever he wants to invest with, so that he pull out his investment in time of difficulties and if there is any need of increasing your discretionary income over time, you will than not having a plan on that you can invest for years without having it mind of pulling it out anytime soon and even as DCA strategy has make it very easy for all beginniners and old investors to be investing small small through DCA strategy yet the need of planing is very important and necessary as far as Bitcoin investments is concern to avoid making use of short term investment which will lead you to gambling.