Waiting for perfect financial condition can delay Bitcoin journey

[stadus]

It does not only delay your bitcoin journey, but it also deprived you from the possible profit opportunities that you could have experienced if you enter bitcoin investment early, or if you trust more your personal knowledge and capabilities, than doubting your current financial condition.

Bitcoin investment isn't made for rich or poor only. It provides equal opportunities for everyone. Now that's up to you how you will chase that opportunity. Having perfect financial condition does not give you an advantage either, because what matters in the long run is patience, consistency and resilience. And having sufficient amount of funds cannot guarantee all of these.

[Barikui1]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin.

It's not just waiting for a perfect financial situation that makes newbies delay their Bitcoin investment journey, procrastination also does, because some investor will be thinking that they need to know it all before starting their Bitcoin investment journey, but that is a wrong approach, because if they are unable to get all their desired information very quickly, they might get discouraged or they will starting procrastinating and postponing it, which will later result in not starting at all, so starting right away once your discretionary income is available is the best way to avoid procrastination, because every other things can be learnt while accumulating consistently.

[Arenga pinnata]

It does not only delay your bitcoin journey, but it also deprived you from the possible profit opportunities that you could have experienced if you enter bitcoin investment early, or if you trust more your personal knowledge and capabilities, than doubting your current financial condition.

Bitcoin investment isn't made for rich or poor only. It provides equal opportunities for everyone. Now that's up to you how you will chase that opportunity. Having perfect financial condition does not give you an advantage either, because what matters in the long run is patience, consistency and resilience. And having sufficient amount of funds cannot guarantee all of these.

Well, that’s how it should be. After all, the real reason we invest in Bitcoin is to try to improve our financial situation and make it more secure in the future. So if someone puts off investing just because their finances aren’t yet in order, that’s just an excuse. because in reality, they could start investing even with just a few dollars a week or a month. Unless, of course, someone has a very tight budget where the money they earn is exactly balanced against their needs or the money they typically spend on basic necessities. In that case, yes, that person isn’t ready to invest. So the most important thing is to generate additional income so that this extra money can be saved and invested, part of it for an emergency fund and part for investments. However, if our lifestyle is fairly luxurious and there’s always money left over each month after all our needs are met, then that person is actually ready to invest. But in reality, there are still many who procrastinate and end up starting only when the market is hyped and prices are at an all-time high. And clearly, that’s an unwise move if the motivation is driven by FOMO. In a bear market, they seem unprepared to start, but strangely, it’s only in a bull market that they finally begin. 

[LastKiss]

It does not only delay your bitcoin journey, but it also deprived you from the possible profit opportunities that you could have experienced if you enter bitcoin investment early, or if you trust more your personal knowledge and capabilities, than doubting your current financial condition.

Bitcoin investment isn't made for rich or poor only. It provides equal opportunities for everyone. Now that's up to you how you will chase that opportunity. Having perfect financial condition does not give you an advantage either, because what matters in the long run is patience, consistency and resilience. And having sufficient amount of funds cannot guarantee all of these.

Yup waiting for perfect financial condition is wasting of time but we should know that prepared is better than nothing, maybe someone will think that having lots of funds for emergency before investing will make their investement journey looks perfect but in reality, no one knows that funds will be enough or not when the emergency case comes up.

That's why investment always comes up with words "Always use money that you can afford to lose" so as long as we can afford to lose our money we can start our journey right away, not waiting for perfect preparation or condition. If a person still didn't start their investment journey so they might be afraid to lose their money, taking risk is important to change someone future.

[Jostern]

Everyone have reasons why they want to be financially stable before they can start investing in bitcoin, I’m not saying that you need to be financially stable before you start investing in bitcoin, however if a newbies have made up his mind to start investing in bitcoin, then they have an opportunity with a discretionary income, we see financial freedom as a leverage to be more comfortable with our investment, if I have a source of income and when you get your cashflow you figure out your basic needs, seeking for a financial condition that would enable us buy and accumulate more is okay, we can start small small, and increase our income along the line to have more access to more bitcoin into our portfolio, getting started immediately is very important, assuming I have some left over money to buy bitcoin now I will buy bitcoin immediately and then working on different strategy to increase my discretionary income, by increasing my cashflow.

[nara1892]

Essentially, consistency in your investment strategy is crucial because it maximizes your potential returns. In other words, having a stable financial situation is ideal for starting to invest especially in Bitcoin and particularly when you use the DCA method for each purchase. However, if your finances are unstable, that doesn’t mean it’s too early to start; you can make occasional purchases, but buying consistently can be more profitable in the long run.

So our task is to increase our income such as by taking on a second job, for example—with the sole goal of stabilizing our income so we can accumulate Bitcoin using the DCA method. The bottom line is: get your finances in order first.

[NewRevelation]

First is to identify interest, and if this is solved, then it's your income. Income here doesn't lay any emphasis on the size of the income, nope. We already know that investments should only be done with our discretionary. So, getting a Discretionary income is another major need to start your investment.  Your discretionary could be big or small, but that doesn't matter. The main point is to get started, and thank goodness for the DCA strategy, which makes little amounts accumulation easy and accessible.

It's not even advisable that a brand new investor kick starts his investment career with bigger buys. He is only new to it, and it's much more bettee to start little while he gets used to it and also create some room for necessary adjustments that may be needed. Waiting for bigger money before starting is a sign of u seriousness, not ready, not Bitcoin enthusiast, laziness, procrastination, etc, and trust me, your starting is far from now. Start with what you have, that's the esence of the DCA.

[Bright0515]

A lot of people keep on saying that they are going to invest in Bitcoin when they finally become financially stable but it's been years and they are still saying the same thing with no plans whatsoever. There is no perfect time to invest in Bitcoin, as long as you have a source of income you can start investing in it using any strategy of your choice that your find easier. It is more preferable to use DCA if you don't have the huge capital you intend to start with.

Giving excuses won't take you anywhere, as a matter of fact you might end up giving excuses till you end up not investing in Bitcoin at all because it might be too late. If you have a stable income you can start investing and then as you make progress you can gradually increase your investment.

[Issa56]

It's not just waiting for a perfect financial situation that makes newbies delay their Bitcoin investment journey, procrastination also does, because some investor will be thinking that they need to know it all before starting their Bitcoin investment journey,

If you want to know everything before you start your bitcoin investment journey, then you are not ready to embark on the journey, because you cant know everything about bitcoin. If you want to invest in bitcoin, you should just take your time to properly learn about the basics of bitcoin, then you can start your investment journey, then with time you can just keep on increasing your knowledge about bitcoin investment.

If you are a new investor, and you are scared to invest in bitcoin, you can just start small, and you can be making use of DCA strategy, they more you keep on understanding things, you can be increasing the amount you are investing with, but trying to know everything without making any attempt to invest isn’t so cool.

[Natalim]

Why wait when you can start investing small and stick with minimal amount of purchase first and increase only when initial profits are gained. You know, if you have this kind of mindset wherein you have to start only when everything is in place, then what's the essence of starting anyway? Investing in bitcoin does not need to be huge and perfect, but even if you start from scratch, as long as you decide to start now, then expect to see small profits and progress.

Procrastination will only delay the goal or purpose, and most of those who procrastinate do not even reach their peak of success because they become more greedy in the middle of their investment, while those who started from scratch and focus on their ultimate goal of stacking massive amount of bitcoin, they don't get easily tempted with greed, but they use their greed instead to achieve the reason why they are investing in bitcoin in the first place.

[Brizi5000]

There’s a difference between starting to invest in bitcoin and continuing to maintain the bitcoin investment to enable you achieve your long term goal. No doubt, starting bitcoin investment doesn’t cost much, it doesn’t request that we must be in a perfect financial position before we can buy bitcoin and hold. People can buy bitcoin no matter their financial position while also working on how to improve their  financial position to enable the continuity of the bitcoin accumulation. Remember, setting out for a long term investment there’s more to just buying bitcoin as there’s also need to make plans to set out various back up and emergency funds to sustain the investment for long term. To be able to do all this one needs some level of financial position.

[uchegod-21]

When it involves investing in bitcoin, it is not all forms of advice that one should accept. It is not wrong to wait for the perfect condition before investing. What Mr A considers a perfect financial condition may not be what Mr B considers as a perfect financial condition. What is important is that, that financial condition allows them the opportunity to DCA consistently. DCA approach works with consistency. That is why we say, do not quit your job because you are investing in bitcoin. You still need that money to invest and still sort out bills.

The essence of being financially ready to invest in bitcoin is so that you can be emotionally fit to ignore panics and FUD. Reports has it that most of the people who panicked are those investors who do not have enough capital, but invested what they cannot afford to lose.

The best advice to give anyone who wishes to invest in bitcoin is that they should invest when they are emotionally and financially ready. This is different from procrastination. When someone is just procrastinating, we know.

[jossiel]

Remember, setting out for a long term investment there’s more to just buying bitcoin as there’s also need to make plans to set out various back up and emergency funds to sustain the investment for long term. To be able to do all this one needs some level of financial position.

I agree, there's more to it and it's not only about buying for the long term. You'll have to overcome the things that are coming to you and as well as for Bitcoin.

So having that preparation includes the emergency funds and if the time you are in need of money.

You don't put it as a choice that you're going to sell what you're holding. Because if you do, it means that you're in a desperate situation and you have no other choice and it's up to you if you think that you have wasted time for holding.

[Nanga Parbat]

Everyone wants to enter by his own way, but financial situations are also important because emergencies can happen. This could be needed to manage before entry; few have enough resources to manage, but it's not for everyone. Many are living on edge; this could be a big cause for their late entry.  Always stay alert about a few things because life has never been easy.

Starting a journey in bitcoin is a dream for many, but their sources never allowed them to do this, as they needed to. Even a few started with a low range, but this also needed to be enough to keep things in balance. Many, after their good entry, faced problems. This made their decision chaotic. The recent introduction of DCA is doing good for newbies because they can start with this. Newbies always feel some pressure due to volatility and fear factor, but they need to have good knowledge before their journey this will always help them and give them better satisfaction.

[Japinat]

Sometimes, its better to delay it than to experience nothing at all. Bitcoin investment isn't a race, there will always be profits waiting ahead as long as you know how to work on your investment well.

But the thing here, if it only cost a small amount to avoid delays, then why chose to delay. Investing in bitcoin does not need to have a perfect initial capital. It only needs the knowledge and the courage to start with. But if you don't have that, then do no enter bitcoin yet, but study first and familiarize bitcoin investment, and you can do that while saving for a good amount of capital.

[#CapsLOck]

It does not only delay your bitcoin journey, but it also deprived you from the possible profit opportunities that you could have experienced if you enter bitcoin investment early, or if you trust more your personal knowledge and capabilities, than doubting your current financial condition.

Bitcoin investment isn't made for rich or poor only. It provides equal opportunities for everyone. Now that's up to you how you will chase that opportunity. Having perfect financial condition does not give you an advantage either, because what matters in the long run is patience, consistency and resilience. And having sufficient amount of funds cannot guarantee all of these.

Well, that’s how it should be. After all, the real reason we invest in Bitcoin is to try to improve our financial situation and make it more secure in the future. So if someone puts off investing just because their finances aren’t yet in order, that’s just an excuse. because in reality, they could start investing even with just a few dollars a week or a month. Unless, of course, someone has a very tight budget where the money they earn is exactly balanced against their needs or the money they typically spend on basic necessities. In that case, yes, that person isn’t ready to invest. So the most important thing is to generate additional income so that this extra money can be saved and invested, part of it for an emergency fund and part for investments. However, if our lifestyle is fairly luxurious and there’s always money left over each month after all our needs are met, then that person is actually ready to invest. But in reality, there are still many who procrastinate and end up starting only when the market is hyped and prices are at an all-time high. And clearly, that’s an unwise move if the motivation is driven by FOMO. In a bear market, they seem unprepared to start, but strangely, it’s only in a bull market that they finally begin. 

I can see how one might end up procrastinating while waiting for ideal financial conditions. It doesn't take much to start off with Bitcoin. And even small amounts invested regularly can help create a sense of discipline. Basic needs. Bills debt and emergency fund will come before investing of course. However. If they have more funds to spare than they need to live off of. It may be just a delay until the ideal time. What's more interesting to me is that many people go on avoiding Bitcoin when it's a bear. And then become interested when it's bull. And everyone is talking about profits. This type of FOMO can result in wrong choices. Small steps. steady progress and a long term vision appear to make a lot more sense.

[LogitechMouse]

I think the reason why many newbies delay investing in Bitcoin is because they wait for the perfect financial situation. They may think that the income will be high, the backup fund will be fully prepared, there will be no debt, the monthly expenses will be completely stable, and then they will think about starting Bitcoin accumulation . But people's lives may never be perfect. And there is no rule that you have to invest a very large amount from the first day when investing in Bitcoin. It is possible to regularly DCA in Bitcoin with a small amount according to discretionary income and cash flow.
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One thing that I've learned throughout the years of investing in different assets is that there's no such thing as "perfect financial situation", and if there is something that investors believe it will be, it differs from one investor to another.

For some, it could be when they have a specific amount of savings. For some, it could be if they already built a few months of emergency funds. it isn't perfect of course, but I have this kind of thinking where if you have the spare money, prioritize investing AT ALL COSTS. Whether it's $5 or $10. Those could build your portfolio in the long term. Investing for me is all about consistency. DCA is the safest and most effective way of investing and when I say safest, it doesn't mean that you will not lose money entirely, but if the price goes down, you still have an opportunity to buy it at much lower price instead of going all-in on one single price.

Please if you have spare money, invest it whether it's on Bitcoin or stock market or wherever you confident you will be making money with. Putting some buckos even it's just a small amount might build your future when your old already. Who knows? Those $10 worth of Bitcoin your buying in the next 20-30 years could be your retirement fund already.

[M47AK16]

When it involves investing in bitcoin, it is not all forms of advice that one should accept. It is not wrong to wait for the perfect condition before investing. What Mr A considers a perfect financial condition may not be what Mr B considers as a perfect financial condition. What is important is that, that financial condition allows them the opportunity to DCA consistently. DCA approach works with consistency. That is why we say, do not quit your job because you are investing in bitcoin. You still need that money to invest and still sort out bills.

The essence of being financially ready to invest in bitcoin is so that you can be emotionally fit to ignore panics and FUD. Reports has it that most of the people who panicked are those investors who do not have enough capital, but invested what they cannot afford to lose.

The best advice to give anyone who wishes to invest in bitcoin is that they should invest when they are emotionally and financially ready. This is different from procrastination. When someone is just procrastinating, we know.

It is not "perfect condition" of the market; it is the perfect condition of the person that matters. If you do have some money on the side and you can invest with it, then you should, doesn't matter anything else. If you have some money on the side, and you do not need it, and have no debt or anything coming soon, then you should be able to invest in this and not be worried about it.

If you do not do that, and you are wondering why things go wrong because you have to sell as soon as it goes down due to you needing money, that is bad. What if the price drops, but you do not have money? What if it goes up and you do have money and wait, and then you end up spending it somewhere else? Just make sure that you are investing whenever you have money, and that is enough. Sometimes it means you buy very low; sometimes it means you buy a lot higher. As long as you keep waiting for it, there won't be any need for anything else and you should be feeling better because having bitcoin, no matter at what price, is great, as long as you can wait for it to go up and give you profit.

[Leahized]

But the thing here, if it only cost a small amount to avoid delays, then why chose to delay. Investing in bitcoin does not need to have a perfect initial capital. It only needs the knowledge and the courage to start with. But if you don't have that, then do no enter bitcoin yet, but study first and familiarize bitcoin investment, and you can do that while saving for a good amount of capital.

Yes, your point is reasonable. First of all investing means dealing with risk. And literally new investors can never avoid other problems. Investing is not about making a profit, now there is financial risk attached to it. When someone start investing with small capital and the market goes down a bit, lose yourself in horror. In particular, when the fund falls to 50%, then  it will not intend to do DCA.

The point is, wherever one invests, one has to acquire detailed information and knowledge about it. Which protects him from any critical situation or disappointment. And acquiring all the knowledge about Bitcoin is a must. In being realistic, it is better not to invest in Bitcoin unless you have enough money saved up.

[Itz-prisigold]

One thing that I've learned throughout the years of investing in different assets is that there's no such thing as "perfect financial situation", and if there is something that investors believe it will be, it differs from one investor to another.

I totally agree with the your point. One thing about this life is that, what looks like a perfect financial situation to me, might not even be a perfect financial situation for another person.  Because our incomes are different, the same with responsibility and our goals in life, so an amount that look huges and comfortable to me, might not do anything for another person.

That is why it's not advisable to compare your situation with what another investor is doing. Another investor might be comfortable investing $1000 monthly into Bitcoin while all what you can afford is only $100, both of you is making progress in your own possible way.  So instead delaying your investment just because you're waiting for things to become perfect, what matter more is just to understand your situation and invest only what you can afford.