Quote from: Mayor of ogba on April 12, 2024, 02:39:01 PM

Quote from: Hallroom on April 11, 2024, 11:12:02 PM

You can deposit bitcoins using DCA method but have you ever thought that you need a strong wallet. Bitcoin storage should never be deposited in a light wallet, because you can never ignore Bitcoin, Bitcoin is a valuable asset. So the best way to save Bitcoin DCA method and even better way is to use strong wallet.

The DCA strategy is used to accumulate bitcoin, not to deposit bitcoin in the non-custodial bitcoin wallet. After getting a good non-custodial bitcoin wallet, you need to protect your wallet's private key or seed phrase from people and back it up in two different locations that only you know. If someone gets hold of your wallet private key or seed phrase, he or she can initiate a transaction and move your bitcoin to a another non-custodial bitcoin wallet.

Even though you are correct, some folks get confused by the term "non-custodial," and yeah, "non-custodial" means the same as self-custodial, and I personally think it is much more clear to use the term self-custodial in order that fewer people will be confused.

I am not sure who came up with such dumb term "non-custodial" that is confusing as fuck, yet everyone should be able to figure out what "self-custodial" is.

When possible, it is better to use more clear language in order to lessen the likelihood of confusion, especially when newbies are sometimes trying to figure out what they need to do.. or what they need to learn about, yet they might not even understand the terms that are being used, especially when the terms are ambiguous and potentially purposefully meant to mislead people.

In regards to custodial wallets, it is likely better to describe those as third-party custodial in order to clarify that they are wallets in which someone else controls the keys or that there might not be certainty in terms of the exclusivity of the wallet.. such as exchanges and other services that people use and they do not hold the keys, so those wallets are called custodial wallets, yet for clarity they are third-party custodial, so that should emphasize the point that someone else has the keys (or potentially can block the person from being able to withdraw the money from those kinds of third party custodial wallets).

Quote from: Uhwuchukwu53 on April 12, 2024, 04:14:56 PM

Quote from: Mayor of ogba on April 12, 2024, 02:39:01 PM

Quote from: Hallroom on April 11, 2024, 11:12:02 PM

You can deposit bitcoins using DCA method but have you ever thought that you need a strong wallet. Bitcoin storage should never be deposited in a light wallet, because you can never ignore Bitcoin, Bitcoin is a valuable asset. So the best way to save Bitcoin DCA method and even better way is to use strong wallet.

The DCA strategy is used to accumulate bitcoin, not to deposit bitcoin in the non-custodial bitcoin wallet. After getting a good non-custodial bitcoin wallet, you need to protect your wallet's private key or seed phrase from people and back it up in two different locations that only you know. If someone gets hold of your wallet private key or seed phrase, he or she can initiate a transaction and move your bitcoin to a another non-custodial bitcoin wallet.

I think this should be a primary thing in which anyone intending to hold BTC with whichever strategies must first put in place mostly when it involves valuable currency like BTC and holding for a long time no matter how small the investment should be a safe Wallet with private and strong security is meant to have been put in place. I think the custodial wallet has been announced severally on the forum even other wallet having similar feather and capable of holding BTC and give holder privacy as regards to security is there for holding.

That is part of the confusion, since "custodial" does sound safe, but it should be made clear that custodial is the same as someone else holding your coins rather than you holding your own coins, which causes me to suggest that it is better to use more descriptive terms in order to describe custodial wallets as "third party custodial" as opposed to self-custodial. Self-custodial is more under your own control; however, there is a problem that people have to be responsible when using self-custodial wallets, since no one is going to save them if they lose their password. A third-party custodial may well provide recovery of wallet advantages, so sometimes there can be confusion about the advantages and disadvantages and the level of responsibility that a person might need to make sure that they have when they control their own private keys... and it can be scary for people to be their own bank and to be in charge of their own keys and that they have to make sure that they are able to recover their coins in case something goes wrong with their self-custodial wallet.

Quote from: Uhwuchukwu53 on April 12, 2024, 04:14:56 PM

I think knowledge in general is necessary and security as well this wallet is necessary because while adopting DCA as way if long time using wallet that give this security and confidence is very necessary I supported your point of view.

Fair enough. Yes. There are needs for balancing in regards to where you keep your coins and what kinds of trade offs there might be in terms of how much value you are keeping in any one location and whether or not you control the keys or if the keys are controlled by a third party, and also there are likely varying kinds of security trade-offs depending on what service you are using (if we are referring to a third-party custodian) versus what kinds of features might exist (including also security tradeoffs and even variance in ease of use) in regards to various self-custodial wallet solutions that are available.

Quote from: cxtreenal on Today at 12:55:23 AM

Quote from: I_Anime on April 12, 2024, 08:13:56 PM

[edited out]

When the market price andcapitalization is red, the tendency to buy bitcoins means you are literally making more money. If you have enough money you can set aside for dips and DCA you should be encouraged to run at the same time. To become a good and successful investor you need to experience buying and selling from all kinds of markets. If the original red letters encourage you to buy more, the green letters can encourage you to sell more these trends can be a hindrance to depositing bitcoins. So I would say that your habit of buying bitcoins at all prices (regular buying) is one of the signs of your trading success.

You must be lost, cxtreenal. We are not talking about selling in this thread or trading, so the mere fact that some of us are talking about buying on the dip, does not mean that we are also talking about selling, since one of the main ideas of the thread attempting various ways to accumulate bitcoin and selling is not one that we are discussing in this thread.. nor trading... those are topics and/or techniques for other threads.