Post
Topic
Board Beginners & Help
Re: I hope I'm doing the right thing.
by
Mayor of ogba
on 15/06/2024, 08:49:29 UTC
How did you guys invest in bitcoin as beginners. What was your experience with the market volatility? A lot of people talk how investing in Bitcoin is good but risky, i don't want to rush to invest  bitcoin. I need to be very sure of what I'm planning to go into. I don't know if I am making the right decision or I'm too sluggish to invest. I'm not really convinced maybe because I don't know much. Do you think this delay is good for me? I believe it is good for one to be  sure and understand anything that involves money.
As a newbie, I started my bitcoin investment with the DCA strategy, where I was accumulating bitcoin every month any time my money was readily available. Before I started my bitcoin investment, I studied bitcoin for a while, and I saw the price movement in the coinmarketcap. So when I started my bitcoin investment and the price dropped, I was not worried because I was already aware of the volatile nature of bitcoin. All businesses in the world involve risk, so bitcoin is not excluded. That is why you should always invest what you can afford to lose in case something goes wrong in the way you can be able to handle it. One important thing you should know about bitcoin is that it isn't a quick-to-get-rich-soon thing, and before you start your bitcoin investment, you should have a good income source that can cover your living expenses so that you will not depend on your bitcoin investment to solve them. You do not need to have a wide knowledge of bitcoin before you start accumulating it; the delay is not good for you. If your money is readily available, you can start accumulating bitcoin with the DCA strategy, either weekly or monthly.