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

[Crakryptvest]

I can't really say the ascertain amount that i can keep to start up my bitcoin investment but one thing that is sure is that my discretionary income determine what i should keep for my bitcoin investment and also my discretionary income determine my constant buying and when to buy.

You gave a good answer because there's no stipulated amount we're are ask to have before we can invest in Bitcoin, discreationary income is what it is, investors should think straight and stop trying to misled themselves, Bitcoin investment is not for the rich alone, it is for everyone that is ready with their discreationary income, some people don't know that even though the are low income earners, they can still get a discreationary income out of there, we don't have to save to invest in Bitcoin, if we have where we can be getting money to save, we can actually invest it into Bitcoin directly as far as it is out discreationary income,  the take home here is that we don't have to wait to get a certain amount to invest in Bitcoin.

[Son Of Blockchain (SOB)]

You gave a good answer because there's no stipulated amount we're are ask to have before we can invest in Bitcoin, discreationary income is what it is, investors should think straight and stop trying to misled themselves, Bitcoin investment is not for the rich alone, it is for everyone that is ready with their discreationary income, some people don't know that even though the are low income earners, they can still get a discreationary income out of there, we don't have to save to invest in Bitcoin, if we have where we can be getting money to save, we can actually invest it into Bitcoin directly as far as it is out discreationary income,  the take home here is that we don't have to wait to get a certain amount to invest in Bitcoin.

The best amount is to have a source of income that is stable. A fixed amount is one time investment, what will happen in the long term. Money used for bitcoin investment is not an amount that is saved. The process of saving should have been used to accumulated bitcoin little by little. An investor need a source of income that is stable and a factual discretionary income to invest with.

Since the investor has a target and wasn't to invest consistently for a long period then a steady income should be the most important thing cause with that the investor would have a steady supply of discretionionary funds to meet up investing consistently, so far the supply for discretionary funds is intact it would ensure the investor is consistent.
 Also, every investors discretionary funds varies and it should be according to what the earn as income, two investors earning different figures can't have similar amount for discretionary cause their expenses varies.

[Crytohillss]

You gave a good answer because there's no stipulated amount we're are ask to have before we can invest in Bitcoin, discreationary income is what it is, investors should think straight and stop trying to misled themselves, Bitcoin investment is not for the rich alone, it is for everyone that is ready with their discreationary income, some people don't know that even though the are low income earners, they can still get a discreationary income out of there, we don't have to save to invest in Bitcoin, if we have where we can be getting money to save, we can actually invest it into Bitcoin directly as far as it is out discreationary income,  the take home here is that we don't have to wait to get a certain amount to invest in Bitcoin.

The best amount is to have a source of income that is stable. A fixed amount is one time investment, what will happen in the long term. Money used for bitcoin investment is not an amount that is saved. The process of saving should have been used to accumulated bitcoin little by little. An investor need a source of income that is stable and a factual discretionary income to invest with.

Since the investor has a target and wasn't to invest consistently for a long period then a steady income should be the most important thing cause with that the investor would have a steady supply of discretionionary funds to meet up investing consistently, so far the supply for discretionary funds is intact it would ensure the investor is consistent.
 Also, every investors discretionary funds varies and it should be according to what the earn as income, two investors earning different figures can't have similar amount for discretionary cause their expenses varies.

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

[ASloveapg]

You gave a good answer because there's no stipulated amount we're are ask to have before we can invest in Bitcoin, discreationary income is what it is, investors should think straight and stop trying to misled themselves, Bitcoin investment is not for the rich alone, it is for everyone that is ready with their discreationary income, some people don't know that even though the are low income earners, they can still get a discreationary income out of there, we don't have to save to invest in Bitcoin, if we have where we can be getting money to save, we can actually invest it into Bitcoin directly as far as it is out discreationary income,  the take home here is that we don't have to wait to get a certain amount to invest in Bitcoin.

The best amount is to have a source of income that is stable. A fixed amount is one time investment, what will happen in the long term. Money used for bitcoin investment is not an amount that is saved. The process of saving should have been used to accumulated bitcoin little by little. An investor need a source of income that is stable and a factual discretionary income to invest with.

Since the investor has a target and wasn't to invest consistently for a long period then a steady income should be the most important thing cause with that the investor would have a steady supply of discretionionary funds to meet up investing consistently, so far the supply for discretionary funds is intact it would ensure the investor is consistent.
 Also, every investors discretionary funds varies and it should be according to what the earn as income, two investors earning different figures can't have similar amount for discretionary cause their expenses varies.

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

Actually we need to have proper financial management and control ourselves. In reality, we see many examples where despite having a good income, we cannot build any savings, and there are also people who despite having a low income can move forward regularly and planned, and can build a savings, no matter how small it is. Therefore, the main thing is proper management and mindset. In fact, discipline is something that whether your income is low or high, this will not allow you to be careless in terms of spending. so if we can control the expenses in a well-planned and controlled way with discipline, then we can also manage an investment, it is not impossible.

[Miles2006]

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

You’re right, a good management plan determines one bitcoin investment either the ability to build a good portfolio for a long period of time and it depends totally on an investor target, management plan differs though each month reason why our discretionary funds change from time to time. In terms of struggling to keep investing is not new yet you just have to plan accordingly and then use the leftover to accumulate bitcoin not minding how little the amount might be reason why dca strategy is available, there’s no fixed amount when Bitcoin investment is concern except an investor who is well discipline to keep up a single amount regardless of the market price or budget.

[Achalugo BTC]

Actually we need to have proper financial management and control ourselves. In reality, we see many examples where despite having a good income, we cannot build any savings, and there are also people who despite having a low income can move forward regularly and planned, and can build a savings, no matter how small it is. Therefore, the main thing is proper management and mindset. In fact, discipline is something that whether your income is low or high, this will not allow you to be careless in terms of spending. so if we can control the expenses in a well-planned and controlled way with discipline, then we can also manage an investment, it is not impossible.

Absolutely right, having the right mindset of how important management is will helps them to handle pressure properly by being in charge of their emotions. Which is why they are to first of all being able to practice discipline or self control, as it will builds a bridge of not doing things in the wrong way and will help them in making informed decisions that will benefit them in their journey and support them in achieving their goals and makes them profitable as well.

[Obulis]

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.

Paying attention to or trying to understand the crypto ecosystem might trigger the temptation to trade. The best thing is focus on DCAing towards your Bitcoin accumulation target and undermine shitcoins.
Aside increasing DCA amount, increasing source of income will also help in some other ways, it help increase the standard of living as required and will become protective by increasing emergency funds. Another joy of increasing income is to have the capacity for aggressive buying when it's time.

[Achalugo BTC]

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

Its good for one to build up the habit as you said, before one can now stays free and focus on what they are meant to do, because indiscipline as cause so many people to the things in the wrong way, which makes them not to achieve their purposes, that is to say they have to stop their journey due to one issue or the other. But, if they choose to build up self-control or discipline first, they can find it easy to navigate through any challenges and get what they want in life.

[JayJuanGee]

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

Its good for one to build up the habit as you said, before one can now stays free and focus on what they are meant to do, because indiscipline as cause so many people to the things in the wrong way, which makes them not to achieve their purposes, that is to say they have to stop their journey due to one issue or the other. But, if they choose to build up self-control or discipline first, they can find it easy to navigate through any challenges and get what they want in life.

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

[The Founding Titan]

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.

Paying attention to or trying to understand the crypto ecosystem might trigger the temptation to trade. The best thing is focus on DCAing towards your Bitcoin accumulation target and undermine shitcoins.
Aside increasing DCA amount, increasing source of income will also help in some other ways, it help increase the standard of living as required and will become protective by increasing emergency funds. Another joy of increasing income is to have the capacity for aggressive buying when it's time.

Keep away from shitcoins if you want to have any good chance at success, most often than not people who tangle with shitcoins end up regretting their decision. It's better to just stick to bitcoin.
Being aggressive isn't dependent on how much income you make, it's depends entirely on your discretionary income so regardless of whether your are making more or less you can still be aggressive if your discretionary income allows it, most people think that in order to be more aggressive they need to earn more but that assumption makes it look like you are investing directly with what you earn meaning if you earn more you invest more and if you earn less you invest less, if you have discretionary income to spare then you can be more aggressive, if you don't then you can't but it's not the smartest decision to be aggressive to the point of investing all of your discretionary income.

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

Its good for one to build up the habit as you said, before one can now stays free and focus on what they are meant to do, because indiscipline as cause so many people to the things in the wrong way, which makes them not to achieve their purposes, that is to say they have to stop their journey due to one issue or the other. But, if they choose to build up self-control or discipline first, they can find it easy to navigate through any challenges and get what they want in life.

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

As long as they have discretionary income then they can definitely start accumulating bitcoin, what they need is to get their priorities right.

[TokenTikas]

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

If someone has extra funds then they can go ahead and start. Self-control and discipline are not the same but they support each other. The only way to build them is through action, so waiting to be fully prepared before starting bitcoin or any other investment is not really realistic. However, once you begin, it is wise to continue in a disciplined and consistent way.

Normal way, I would say that starting is necessary to build self-control and discipline. You do not need to be fully disciplined before you begin but if you want to stay on the right path after starting, then you must maintain at least a basic level of discipline. So discipline may not be required to start but it is very important if you want to keep going.

[ZeroVinsonN]

I can't really say the ascertain amount that i can keep to start up my bitcoin investment but one thing that is sure is that my discretionary income determine what i should keep for my bitcoin investment and also my discretionary income determine my constant buying and when to buy.

You gave a good answer because there's no stipulated amount we're are ask to have before we can invest in Bitcoin, discreationary income is what it is, investors should think straight and stop trying to misled themselves, Bitcoin investment is not for the rich alone, it is for everyone that is ready with their discreationary income, some people don't know that even though the are low income earners, they can still get a discreationary income out of there, we don't have to save to invest in Bitcoin, if we have where we can be getting money to save, we can actually invest it into Bitcoin directly as far as it is out discreationary income,  the take home here is that we don't have to wait to get a certain amount to invest in Bitcoin.

Discretionary income is what it is and we invest in bitcoin using it, all of our backup funds also come from our discretionary income along side our discretionary spendings so while we do invest in bitcoin using our discretionary income, that's not the only thing we do with our discretionary income so anyone who is generating discretionary income will have to decide how much of it they want to use to invest in bitcoin and this decision is what's determines whether or not they are going to be aggressive in hoe they accumulate bitcoin, if all of their backup funds have already been settled they can channel someone of the discretionary income that was funding them into their investment thereby increasing how aggressively they buy bitcoin.

[Achalugo BTC]

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

Well, I don't really mean that people who have discretionary funds available should restrain themselves from investing just because they are not confident that they've built the discipline and self control they really need to get started. All I'm trying to say is that anyone with discretionary income can go ahead to start from wherever point they are and improve later on as they proceed, which they are not to dispute the fact that discipline and self-control plays a crucial role for them to sustain investing in Bitcoin despite how volatile the market can be.

So, when I said discipline should be built, which can help one to be able navigate through any weak spot or challenge they may encounter, especially when they had to sell due to the pressure of how the market prices dips or buying when the price is high, which they had to also work on themselves.

[Queen uloma]

I call it the accumulation principle. Any amount is good to start with as long as we stay consistent. Even as low as $10 one will be shocked if they stay devoted to that amount for a period of 10 years steadily buying at every slightest opportunity and increasing the amount when the tend to have something bigger. This time interval mustn't be fixed it can be randomized like making it a duty when ever we have money left with us. The future has no mercy it is only kind to those who sacrificed and invested.

Consistency and determination is the key to every successful investor, and investing in Bitcoin doesn't matter how much one have but what is more important and useful is how consistent they are in their accumulation journey, and its good for one to have other alternatives in which they can be earning and helps to takes off pressure, while they  are achieving their goals for long-term run and should not also ignore the importance of research.

Consistency and determination is the best approach of any successful investor, especially when it comes to bitcoin. It is not all  about how much you started with that matters, but how steady you have accumulated over time. Someone might invest with Big money, but if the person is not always consistent, they won’t go far. Meanwhile, someone that invests only with a small money regularly can build something strong in the long run. I agree with you, that having other alternatives in which someone can be earning from is a big advantage and it helps to reduce pressure so when market goes down, you won’t panic and sell. This will make You have peace of mind to hold your investment. The truth fact still remains that, consistency doesn’t mean that you should overdo. Everything you do needs to be balanced. Don’t use  money meant for your daily basic needs and emergency needs to invest.

[PremiumcryptoHub]

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

If someone has extra funds then they can go ahead and start. Self-control and discipline are not the same but they support each other. The only way to build them is through action, so waiting to be fully prepared before starting bitcoin or any other investment is not really realistic. However, once you begin, it is wise to continue in a disciplined and consistent way.

Normal way, I would say that starting is necessary to build self-control and discipline. You do not need to be fully disciplined before you begin but if you want to stay on the right path after starting, then you must maintain at least a basic level of discipline. So discipline may not be required to start but it is very important if you want to keep going.

You are treating discretionary and extra funds as the same thing, in fact almost all of us here know that these are two different concepts of financial management. Anyway if you have a certain amount of Naira for a few months then it may be extra fund but the amount of Naira you have left after all your maintenance is discretionary funds. Even if you have discretionary income, a person can start from his current situation because this amount of naira is enough to start investing in Bitcoin and some basic knowledge is enough, even self-control and discipline are essential in Bitcoin investment but we should ignore these excuses and start from the current situation.

[WhoYouCantKill]

Consistency and determination is the best approach of any successful investor, especially when it comes to bitcoin. It is not all  about how much you started with that matters, but how steady you have accumulated over time. Someone might invest with Big money, but if the person is not always consistent, they won’t go far. Meanwhile, someone that invests only with a small money regularly can build something strong in the long run. I agree with you, that having other alternatives in which someone can be earning from is a big advantage and it helps to reduce pressure so when market goes down, you won’t panic and sell. This will make You have peace of mind to hold your investment. The truth fact still remains that, consistency doesn’t mean that you should overdo. Everything you do needs to be balanced. Don’t use  money meant for your daily basic needs and emergency needs to invest.

That’s correct. And having several streams of income also gives you the flexibility to tweak your accumulation schedule the way you want while still maintaining the base line of your investment. This reduces the financial burdens, as well as the dependence on your investment.

Although while it’s true that consistency and determination is key to a successful investment, let’s not also forget that discipline also plays a more vital role in, else all your years of consistency and commitment could turn to a fruitless pursuit.

[Mr_Brilliant$]

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

You’re right, a good management plan determines one bitcoin investment either the ability to build a good portfolio for a long period of time and it depends totally on an investor target, management plan differs though each month reason why our discretionary funds change from time to time. In terms of struggling to keep investing is not new yet you just have to plan accordingly and then use the leftover to accumulate bitcoin not minding how little the amount might be reason why dca strategy is available, there’s no fixed amount when Bitcoin investment is concern except an investor who is well discipline to keep up a single amount regardless of the market price or budget.

I get your point… everything still boils down to planning and knowing your level..  Nor be everybody fit keep same amount every time, life dey always change things…

And for sure the DCA part make sense normally, because na consistency matter pass the amount..  Even if na small small, as long as person dey steady, e go still build something meaningful with time…

At the end na discipline plus clear target be the real game, not just how much you dey put..

[ASloveapg]

Absolutely, discretionary funds will always differ from time to time your income level and expenses definitely shape how much one can realistically set aside it is truly about creating habit that fits your condition  and sticking to it but I don't think it's the most important issues discipline matters just as much if not more. Somebody can earn a steady income and yet struggle to invest consistently if they don't manage their self well.

You’re right, a good management plan determines one bitcoin investment either the ability to build a good portfolio for a long period of time and it depends totally on an investor target, management plan differs though each month reason why our discretionary funds change from time to time. In terms of struggling to keep investing is not new yet you just have to plan accordingly and then use the leftover to accumulate bitcoin not minding how little the amount might be reason why dca strategy is available, there’s no fixed amount when Bitcoin investment is concern except an investor who is well discipline to keep up a single amount regardless of the market price or budget.

I get your point… everything still boils down to planning and knowing your level..  Nor be everybody fit keep same amount every time, life dey always change things…

And for sure the DCA part make sense normally, because na consistency matter pass the amount..  Even if na small small, as long as person dey steady, e go still build something meaningful with time…

At the end na discipline plus clear target be the real game, not just how much you dey put..

Yes, I agree with you, in fact, if we maintain consistency in an investment, then we will have much better chances and this journey will become better and easier in maintaining it for the long term. Because a one-time investment of a large amount will create a lot of emotion, fear or uncertainty in us during times of market volatility, which is why we need to maintain consistency in our investments. It is safe to move forward through small steps, even if it is a small amount, if someone can continue with discipline for years, then that can produce very big results. Whereas if we think aggressively, then it will create more instability in us.

[The Founding Titan]

When you proclaim that "self-control" and "discipline" need to be built first, are you proclaiming that self-control and discipline need to be built prior to starting to invest in bitcoin? Can't a person start from wherever they are at, as long as they have discretionary funds?

If someone has extra funds then they can go ahead and start. Self-control and discipline are not the same but they support each other. The only way to build them is through action, so waiting to be fully prepared before starting bitcoin or any other investment is not really realistic. However, once you begin, it is wise to continue in a disciplined and consistent way.

Normal way, I would say that starting is necessary to build self-control and discipline. You do not need to be fully disciplined before you begin but if you want to stay on the right path after starting, then you must maintain at least a basic level of discipline. So discipline may not be required to start but it is very important if you want to keep going.

You are treating discretionary and extra funds as the same thing, in fact almost all of us here know that these are two different concepts of financial management. Anyway if you have a certain amount of Naira for a few months then it may be extra fund but the amount of Naira you have left after all your maintenance is discretionary funds. Even if you have discretionary income, a person can start from his current situation because this amount of naira is enough to start investing in Bitcoin and some basic knowledge is enough, even self-control and discipline are essential in Bitcoin investment but we should ignore these excuses and start from the current situation.

Discretionary income is extra funds, most people seem to think that if it's a reasonably large amount of money it automatically cannot be classified as discretionary income but that's wrong, as long as you can settle all of your bills without it then it's considered discretionary regardless of how much it is, let's say a gambler won a good amount of money from gambling, this is discretionary income of he could still pay his bills without it, maybe his expenses might increase because of that much extra cash but that's because he wants to spend more, the increase in his expenses wasn't automatic simply because he won that money, his expense increased because he wanted it to, maybe now no longer using the regular public transport, paying for higher subscriptions, these are not necessities incthe sense that he could very well still live without them as he was before hitting jackpot so the extra is essentially discretionary income until he decides that his basic expenses need a raise.

[Mocha Gilmore]

I can't really say the ascertain amount that i can keep to start up my bitcoin investment but one thing that is sure is that my discretionary income determine what i should keep for my bitcoin investment and also my discretionary income determine my constant buying and when to buy.

There is no fix amount to save before you begin to invest in bitcoin. You can begin with whatever amount you can figure out as discretionary income even if it small. What is important is your source of discretionary income. If your discretionary income that is figure out is little after covering for all your basic expenses,stop expenses on non essentials to increase the size of your discretionary income.