New to Bitcoin, is this a good way to start?

[tabas]

When I first invested in Bitcoin, my biggest mistake was that I did not increase the amount of Bitcoin investment over time, even though the investment was long-term. I invest Bitcoin according to the DCA method, I continue to invest in Bitcoin weekly. But in the past, I invested $ 70 to $ 80 in Bitcoin every week, and for several months I have been increasing the amount of Bitcoin investment purchased weekly. And this was my mistake.
If I had added some more money to Bitcoin in the past and purchased more Bitcoins, my portfolio would be much larger today. And I would have taken the opportunity to be more profitable, but if you add more money to Bitcoin purchases weekly in addition to investing, you will be able to grow your portfolio.

From those mistakes we did in the past, we learn from those. But I don't think that's a mistake to say that you haven't increased when you have done DCA in the past. There could be some reasons behind that and you were not able to do it. Although the important part is that you still invest in Bitcoin and you continued to do it. While we can only look at the flash backs of these what ifs if we've done it in the past. We have to continue moving forward and try to do it in the present time so if we recall it somewhere in the future, at least we've corrected what we think is wrong in our strategy.

[Ayebabara]

For anyone is a beginner, at the very first beginning one must e confusing on how to go about the whole thing of Bitcoin and crypto currency and it because one lack the complete knowledge of the subject Bitcoin. At this point beginners will be having many different thoughts in mind thinking about which way to go and where to start.

Every beginner have this phobia but  with time, one will understand the scope and have many ideas about it. Now for it to be a good way for you, one must have a tutor or an expert in it to guide you and gives one directions.
Bitcoin is not just something one just jumped in on his or her own and began talking of becoming a billionaire over night, it is a system that requires proper nurture and constant practices in patient to gain full knowledge of it.

When I first started, fear of missing out (FOMO) was about to ruined everything for me. So many a times I even speaks without addressing anyone because I was always gazing and deep in contemplations, I lack knowledge of investing especially in the DCA method, I keep making same mistakes until I decide to work as an assistant to one of my friend who have been in the digital marketing or system for some years.
From the previous years, I have learned a lot and now I am independent. Bitcoin is never and ever a bad choice for anyone because it is a modern system in which I really urged everyone to learn at this youthful age and if you are a father, please teach your children about Bitcoin and binary trading it is so advanced to the new generation.

[Pandu Geddon]

For anyone is a beginner, at the very first beginning one must e confusing on how to go about the whole thing of Bitcoin and crypto currency and it because one lack the complete knowledge of the subject Bitcoin. At this point beginners will be having many different thoughts in mind thinking about which way to go and where to start.

Everything will depend on how interested beginners are in Bitcoin. Because if they do not have enough interest, all that will happen is thinking about the risks and eventually being afraid to get involved. Only those who have an interest will eventually be motivated to find out and try to learn more about Bitcoin. Although currently we may see more interest from beginners in trading or investing, rather than in the technology it brings.

[Orpichukwu]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

[summonerrk]

Bitcoin is under pressure right now, but I think it's attractive to buy even now..The US is actively selling on the spot. Spot Bitcoin ETF: 6 consecutive outflow sessions (~$1.26 billion).
Strategy is preparing the market for the fact that they will have to sell BTC. Sentiment has once again descended into the fear zone . The paradox: BTC is stable at the same time. The market is in a "visible calm on structural risks" mode. The crypto underwent a sell-off last week, with stock indexes rising, as its main narrative - "Trump-friendly Fed cuts" - completely crumbled.
We are waiting for new narratives and drivers. They will definitely appear soon.

[MusaPk]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

[Cgrexp]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

Time and planning are important for success. No matter the price, if there is excessive frustration or panic, many people get scared and exit the market. However, those who have been able to hold on for a long time with patience are the ones who have benefited the most. Courage is needed in investing, but this courage comes only when someone invests with extra money and is not afraid or panicked about losing money. Bitcoin can never change one's fate overnight. Ultimately, to achieve success, knowledge, patience and risk management are needed along with courage.

[Ayers]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.  

How is bitcoin going to make you rich when it can no longer do x100 or x1000 like before, and you are investing with only a small amount of capital? How can you make millions of dollars and become rich with just $10k or even $100k?

The reality is, at this stage, Bitcoin is no longer a tool for getting rich quick and can no longer help us become wealthy. What it can offer today is primarily asset preservation, against inflation, and helping our asset grow steadily over time

If we want to become wealthy, we need to increase our income, improve our skills…not just rely on Bitcoin or any other investment. Let's be realistic.

[justdimin]

For anyone is a beginner, at the very first beginning one must e confusing on how to go about the whole thing of Bitcoin and crypto currency and it because one lack the complete knowledge of the subject Bitcoin. At this point beginners will be having many different thoughts in mind thinking about which way to go and where to start.

Everything will depend on how interested beginners are in Bitcoin. Because if they do not have enough interest, all that will happen is thinking about the risks and eventually being afraid to get involved. Only those who have an interest will eventually be motivated to find out and try to learn more about Bitcoin. Although currently we may see more interest from beginners in trading or investing, rather than in the technology it brings.

There are people who are "too" excited on this and we should not be really expecting it to be something that would be all that much interesting if you are not studying and doing the boring bit. I know that it is boring but you have to do the boring bit before you can do the exciting bit. If you end up just focusing on how to make profit then you are not going to get this.

This is why there is nothing you can do as a newbie that would be trading or anything that kind of deal, you are not going to do leverage, and if you do them then you are going to lose money. But if you end up with learning, studying, and researching, all of which are very boring stuff, then you are going to get a lot better return and should not be considering this as a bad deal at all.

[Comeacross]

So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

The smartest way to start is to invest the money you can afford to lose which you already know. But it's not also wrong if you can target the perfect moment but the problem is do you know the perfect moment? Since you don't know the perfect moment, you should buy at your own convenience with amount you can afford to lose. Easier way to go about it is to a have a plan and a goal for your investment. Study bitcoin as if your life depends on it to understand what you're investing in. Do not just invest based on what people are saying, find it out yourself to know whether it worth it.

[Popkon6]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

If you want to invest in Bitcoin, you must remember the continuity of investment, even if you are new, invest in Bitcoin. Slowly you will learn all kinds of information and about Bitcoin, because as long as you are not participating in Bitcoin investment, you are away from Bitcoin investment. So participating in Bitcoin investment is the most important thing, in addition to investing, you can learn about Bitcoin and know more and follow the strategy of investing in Bitcoin.
So your idea is good. You can move forward in the future like this, and you can increase the amount of purchase in addition to investing in Bitcoin weekly and monthly.

[skarais]

~~~

If you want to invest in Bitcoin, you must remember the continuity of investment, even if you are new, invest in Bitcoin. Slowly you will learn all kinds of information and about Bitcoin, because as long as you are not participating in Bitcoin investment, you are away from Bitcoin investment. So participating in Bitcoin investment is the most important thing, in addition to investing, you can learn about Bitcoin and know more and follow the strategy of investing in Bitcoin.
So your idea is good. You can move forward in the future like this, and you can increase the amount of purchase in addition to investing in Bitcoin weekly and monthly.

An investor may hold various different assets within their portfolio, this is flexible and never mandatory.
If you only focus on investing in Bitcoin and continue to accumulate it, you may miss out on other opportunities in different investment assets. In fact, one will not indefinitely generate substantial profits from the same asset, there are times when those profits will be realized from a different asset.

Anyone who has invested in Bitcoin and various other assets has, in fact realized substantial returns thus far. I would cite gold as one such investment asset, one of the many assets that have yielded returns for those who invested in them.

[Alpen]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Take a look at a real-world fact. The most famous and biggest DCA strategist in the crypto market is Michael Saylor. By buying Bitcoin in chunks over the last 6 years, he accumulated nearly 5% of the total supply. But what are his actual returns? Zero.

Are you ready to invest for six years straight just to make zero profit? If you think his numbers were much better last year, you're mistaken—his annual yield was just 5%.

And do you know what price he bought his first batch of Bitcoin at? $11K. But averaging up completely ate away his profits over the years

[Leahized]

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

Yes, investing in Bitcoin requires taking bold steps and being aware of important factors. However, if you invest while the price of Bitcoin is at its peak, you may face some losses, but if you are patient, you may profit in the future. However, it is currently at 73.5k If you want to invest at this time, you can get a lot of returns because it can come down to 73k as resistance. Moreover, if you are lucky, investing a large amount of money in a short period of time can make you quite profitable and save a lot for the future. But it is always better to take action according to the situation.

[Orpichukwu]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

That does not add up, how exactly are we to monitor the market and know the exact right time to buy bitcoin that will give us that rich making profit, or is the price supposed to dump down to $10k before someone who aim to get rich with bitcoin can buy? To get rich out of being poor from Bitcoin currently seems impossible. Even when you hold for the long term, what you can make is a decent profit and not enough in such a way that a man struggling with $1k will turn into a millionaire overnight.

[Razmirraz]

You are starting on the right foot, which is good, not like many who see Bitcoin as a place to make quick money first before later realising such is not that easy. With this mindset, you just have to make good plans which can protect your finances. As time goes on, you can be accumulating more and more till you get to a certain target or till you are satisfied; then you can focus on learning more about the protocol while observing your funds grow in value.

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

I think, your income "it is impossible to get good profits from Bitcoin" if you don't buy when it drops is wrong because there are other strategies that are better than buying Bitcoin when the price drops, after all we will never know when that moment will happen. Instead of guessing the right time, it is better to use the DCA strategy to reduce the risk of loss. Building wealth with Bitcoin is not a get-rich-quick scheme, based on historical patterns, significant value growth takes years to occur through various market cycles.
I agree with the statement, "Patience is the key in Bitcoin investment." What often leads to losses for many investors is entering during FOMO and then exiting in a panic.

[noormcs5]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Well, I don't know how much know-how you have about bitcoin, wallets , private keys etc ? While you may want to invest in bitcoin not at once but by buying in small amounts (DCA) and use extra money that you do not need immediately but if you aren't aware of how to keep your bitcoin save , then that's asking for trouble. If you are that basic, better learn how bitcoin Blockchain works and how to use and protect wallets and then you may start accumulating bitcoin.

[Proty]

I have been reading more about Bitcoin lately, and as a beginner I keep feeling interested, but also a bit confused about the best way to start. I am not trying to get rich fast, and I do not want to throw money in just because of hype, I am thinking more about starting small, learning as I go, and treating it like a long term thing. What makes Bitcoin interesting to me is that it seems different from most other things people invest in, but at the same time, the price moves a lot, and for someone new that can be a bit intimidating .So my idea was something simple, buy small amounts over time instead of trying to guess the perfect moment, and only use money I can afford to leave there for a while. Does that sound like a smart way to begin, or do you guys think a beginner should learn more first before buying any BTC at all. Also, what was the biggest mistake you made when you first got into Bitcoin?

Well, I don't know how much know-how you have about bitcoin, wallets , private keys etc ? While you may want to invest in bitcoin not at once but by buying in small amounts (DCA) and use extra money that you do not need immediately but if you aren't aware of how to keep your bitcoin save , then that's asking for trouble. If you are that basic, better learn how bitcoin Blockchain works and how to use and protect wallets and then you may start accumulating bitcoin.

The most important thing before anyone can start accumulating bitcoin is the ability for them to figure out if they have discretionary income to invest with. Then once they have figured out the availability of discretionary income then they are good to start accumlating bitcoin. Therefore, they must not know how bitcoin Blockchains works or about private keys before they can get started. For starting the ability of being able to figure out discretionary income that's what matters most.

[Itz-prisigold]

If someone really want to become rich with Bitcoin then he has to take bold steps like buying Bitcoin when price is down. Without taking such bold steps it won't be possible to get good profit from Bitcoin. Despite huge price of Bitcoin there is still potential in Bitcoin that can make us rich, all we need is to identify that potential. Don't think that you can make a fortune with Bitcoin in short duration because it takes time with Bitcoin to change your financial status. Patience is the key here in Bitcoin investment.   

The problem I always have with this kind of mindset is that, it makes Bitcoin accumulation sound like a way to “get rich,” tools that just depends on taking a bold risk.  But the truth is that, most investors always fail in Bitcoin because they are only focused on profit and taking unnecessary risks instead of trying to have a sustainable accumulation plan.

Purchasing Bitcoin when the market price is down is not actually about being bold,  It is about having proper cashflow management, knowing when discretionary income is available, and knowing that you have the ability to keep buying without putting yourself under financial pressure.

And you should know this that, not every investors is thinking about becoming rich.  To so many investors, they are investing in Bitcoin because they want to protect purchase power and slowly increase exposure to a scarce asset overtime. If you want a long term success, then you have to be discipline and be consistent in your Bitcoin accumulation rather than looking for quick profit.

[Callido]

The most important thing before anyone can start accumulating bitcoin is the ability for them to figure out if they have discretionary income to invest with. Then once they have figured out the availability of discretionary income then they are good to start accumlating bitcoin. Therefore, they must not know how bitcoin Blockchains works or about private keys before they can get started. For starting the ability of being able to figure out discretionary income that's what matters most.

Everyone will give their own important advise to which is the first to look out for, it doesn't need to be the first, there are lots of what to consider before accumulating Bitcoin. It involves the basics, if possible learn more than just the basics, it will save you from mistakes caused by ignorance. All investment are studied before investing, Bitcoin is nothing different.