Post
Topic
Board Economics
Merits 1 from 1 user
Re: Is there a formula for Bitcoin starters?
by
boty
on 27/10/2023, 10:24:50 UTC
⭐ Merited by fillippone (1)
The money used for investing in Bitcoin should be different from the money used to maintain a standard of living. If you feel your income is not enough for you and when you use them to invest you will be broke then it is not advisable to start investing yet. Before thinking about allocating money for investment you should consider paying your bills, sorting all necessary things including food and little expenses even to the extend of keeping some money for your emergency fund.
It would be better before we decide to make an investment, we must first think about whether our needs have all been met and if not then we cannot make the investment we want. If we have been able to meet the needs we need and also have savings and idle money then we can decide to make the investment we want and also we have studied it well so that we don't make the wrong decision in investing so we don't experience losses in investing.

Yes there is a way to gradually accumulate Bitcoin with low amount and it is risk free and good for starters. The method is DCA. It is easy all you need to do is decide if you want to DCA weekly or monthly then you choose a specific percentage of your income and allocate that amount consistently for a period of time. The DCA method is slow to accumulate but it is the safest method because Bitcoin is highly volatile and other strategies can be affected by the volatility of Bitcoin.
I agree with you, using the DCA method in making investments is very good if we have a steady income. We can use part of the income we have to make investments and buy them consistently so that we can get a profit from the investments we make.