Quote from: Ruttoshi on June 10, 2024, 02:35:44 PM

Quote from: Fuso.hp on June 10, 2024, 07:14:36 AM

Quote from: Kliss on June 09, 2024, 02:20:36 PM

Quote from: Dorkylickjj on June 09, 2024, 11:08:36 AM

You don't need to have a stable income before you start investing into bitcoin, you can start with what ever amount you have, waiting to stabilise before investing in Bitcoin is not the right thign to do cause you can start while you put yourself in a better position by looking for a stable source of income, let's assume a guy that receives 100$ as a birthday gift and wants to buy bitcoin, although it's it's a steady income he can decide to invest up to 50$ into bitcoin or less depending on his expenses and what matters most is taht he has already started and when he has another money he can buy again and by the time he is stable he might already have some money invested into bitcoin, besides it's a long term approach so he has time to fix himself as he accumulates bitcoin.

Having a stable source of income is crucial for consistent Bitcoin accumulation while also meeting personal needs. investing money you have at the moment without having a steble source of income can impact negatively and hinder your Bitcoin investment growth. Bitcoin investment requires one to be engaged in something that brings earnings or wages either weekly or monthly so that certain percentage can be allocated to your Bitcoin investment no matter how little it may be and also doing it consistently, whether weekly or monthly, to ensure steady growth in your investments. Consistency is key in building your Bitcoin portfolio while balancing your financial responsibilities. It's all about finding that balance and staying committed to your investment goals.

Investors are generally advised to build funds and then start investing to ensure consistency in their investments. It is applicable only to those investors who are very serious about their investment and who do not want to disturb the continuity of investment in any way. But I think that an investor can continue to invest properly as long as he doesn't feel too much pressure on his investment. Whenever an investor feels investment pressure he will not be satisfied with his investment and will feel that he should sell this investment. So the investor will invest according to his ability and when he gets time to invest he will invest so that even if the investment is not continuous he can hold his investment for a long time.

I don't think that it is right for any new investor that wants to start his bitcoin journey to build up funds before venturing into bitcoin investment and that will be a waste of time because you can get started immediately with the little funds that you have on you instead of saving and building it up in fiat before investing into bitcoin. Since that investor is a no coiner, he needs to start buying bitcoin using DCA strategy whereby he can buy bitcoin weekly or monthly with his discretionary income for 4-10 years and above.

That is better, because if he starts saving money to reach a big amount before buying, he will not be able to have a good bitcoin size in 10yrs time compared to when he starts putting the money that he is saving in fiat into bitcoin. Imagine that you have a ten years bitcoin investment plan and you used one year to pile up $2600 which you have being saving $50 weekly, and he used that money to lump sum the next year. Imagine that if he didn't wait to pile up that money and he started right away, he has the advantage to buy bitcoin at different price level every week at $50 through DCA. In one year time he would have accumulated more that $2600 worth of bitcoin, because he bought right away and might even buy at a more cheaper price compared to the guy was was saving his money before buying.

The guy that saved his money might not be able to buy with all his $2600 because there might be some challenges that will come around that will make him use part of the money that he is saving to buy bitcoin. Another thing is that what if bitcoin price is very high during when he has gotten the bulk money, will he start waiting for the dip before buying, he will miss a lot of buying opportunities in the market within that one year that he was busy piling up fiat. Fiat depreciates, so it is better to start keeping the value of your money in bitcoin. I just used one 1 year for for my explaining, to give a fast understanding. Bitcoin investment should be on a long-term goal and start right away because time waits for no one, bitcoin price increases as time passes on and waits for nobody.

There is one mistake people do when they want to start up their Bitcoin investment and the mistake is trying to accumulate enough Fiat before investing though it is not bad to accumulate large amounts in Fiat and use it to by Bitcoin at a go but in most cases it is difficult to maintain because you can be accumulating Fiat and using part of it to solve immediate problems before you know you must have used up a higher percentage of your Fiat that you intend to use and buy Bitcoin.

I personally, I have two sources of income so what I do is that I leave one part of my income in Fiat just to take care of some real life expenditures and the other part of my income to accumulate bitcoin using the DCA so it makes me to feel so relaxed because i know nothing will interfere between the money am using DCA because i already have Fiat to attend to any of my needs so starting up an investment doesn't mean you should have a huge amount of money before making a step and if you even have that mentality of saving a huge amount before you buy Bitcoin, it's either you will buy at a high price when you could have bought at a low price if you started accumulating by DCA or you can even lose interest not to buy if you discover that the price is very high because you will now consider the price when you started accumulating Fiat to buy Bitcoin and the price when you finally gotten the amount you want to start with so it may discourage you not to even start at all and you could even begin to reason about investing on real life projects thereby your aim to accumulate Bitcoin will be halted.

Accumulating little by little using the DCA is a sure way to own a huge portfolio. Most people who own huge portfolio today started very little and now they are proud they took the bold step. There are times when we feel that our investments is too little but by consistency the investment begins to grow with time but if you decide to meet a target before you start accumulating, you may end up with nothing or not accumulating at all.