I know there are some newbie thinking what to do to hold bitcoin, first, if you save money in your bank account, you can use the money to buy bitcoins and hold which is the wish of many holders in the community, secondly, if you grow your bitcointalk.org account to full member above and apply for signature campaign, and if you are accepted in that campaign, you can hold bitcoin which is the easiest way many people use to hold bitcoin, thirdly, you can sell you land and property to hold bitcoin, which I have see someone on television some years ago, sharing his wealth secret to people, how he sold the land he inherited from his father to buy bitcoins and hold for long term before he sold to make money that turned him to millionaires in the country. What are the other ways people can hold bitcoin.
Inorder for you have a good investment and steady continuity in actually hoarding Bitcoin there are just simple basic things you need to know and also do which are
As a newbie to crypto currency, there are many few important things a crypto newbie need to know before he or she starts to invest in Bitcoin.
- having a steady flow of Income so even if you have started hoarding Bitcoin, you won't be tempted to go and sell off your coins because of other expensive
A steady source of income is the most important thing before investing on Bitcoin. Having a steady source of income gives you more and more money to always buy the dip, there was a trend I see some days back and it about a guy who was saying he is buying the dip and it keeps dipping. This is also an example that will help us to know that source of income is the most important thing in investment, when you have the money you also gets more opportunities to buy the dip, when you don't have money you can't buy the dip.
- having a whole lot of patience too, because so many people are of the opinion that Bitcoin investment is some kind of get rich scheme
Yeah it's good to have patience when we are investing in Bitcoin, one other reason why some people are into trading is because they don't have a lot of patience to invest in Bitcoin. You know that feelings when you see your capital reducing without making even a little profit, so they choosed to trade than to invest because as they are trading why monitor the market price so that they can know the perfect time to cashout by selling their Bitcoin.
For starters this principle are the basics you can possibly not fail to have if you are serious about patience hoarding Bitcoin and of course the DCA STRATEGY is well prepared as it helps you even you are not financial stable to acquire huge chunk of Bitcoin at once.
Without a good source of income one can not DCA on Bitcoin because DCA method is a method that gives us the privilege to buy Bitcoin daily weekly or monthly basis. And when one doesn't have a source of income he or she can not invest in Bitcoin because he doesn't have what it takes to buy Bitcoin. However, no matter the kind of strategy an investor is using to invest on Bitcoin, if he doesn't have a source of incomes his investment plans won't last long.