Quote from: Sim_card on July 30, 2024, 09:55:40 PM

Quote from: SATWAT on July 30, 2024, 09:40:26 PM

Quote from: Antonil on July 30, 2024, 06:25:41 PM

Quote from: cryptoWODL on July 30, 2024, 06:05:01 AM

This method is especially useful for those who cannot afford to buy a large amount of bitcoins at once but are willing to invest in bitcoins. Only they can invest in this method and buy bitcoins in small amounts and hold it according to their specific goals.

The DCA method is not only for those who want to buy Bitcoins but cannot buy them all at once due to lack of funds. The DCA method is for anyone who wants to invest in Bitcoin. Everyone knows that Bitcoin market is the most volatile market. If you are a true investor, you definitely don't want your money to be lost after investing. To catch up with what you said I would have had to go back another 8,9 months and invest when bitcoin was $35k,$36k. But now the price has reached $70k! Now what if someone invests a large sum of money at once, and 2 days later the price of Bitcoin drops to $40k? Have you thought about that? I think no investor can think like that.

I read few time here about this method DCA, but I am never having anything related about this as I am currently trying to invest in bitcoin for long term I need some updates and information about this if you can give link or related materials this could be great because I am not able to invest huge amount but now having strategy to invest in bitcoin small amounts which will help me and my kids in long run.

It is good that you want to use the DCA method to invest in bitcoin for a long term as a new beginner, I don't have any chart for that but I will advise you to always come to this thread and read about the contributions of other members so that it can guide you along your bitcoin investment journey.

Firstly, you need to calculate how much money that you have left after you have taken care of your monthly expenses and family needs, which you will not need for or or that you can save for long without a problem of spending it so that you can continue buying bitcoin with such amount. From that amount that is left, you can share it into two part and use one part to buy bitcoin every week or month continuously without skipping any week or month.

Next is for you to set up an emergency funds that will be a back up to your bitcoin investment that you are buying and building for a long period of time, so that whatever financial challenges that may come your way during investing, you can use your emergency funds to tackle if when a real emergency happens. That will make you not sell your bitcoin when it is not at your own will. The second part of your discretionary income can be used to build your emergency funds for 3-6 months and above and it is good that you build your emergency funds simultaneously with your bitcoin investment.

After your emergency funds is built up, you can channel that money for building a reserve funds to be a back up to your emergency funds. If you have your emergency funds, reserve funds and float in place, it is your choice to buy bitcoin aggressively so that you can buy more Bitcoin to cover up that time that you were using to build your emergency funds and reserve funds, so that you can accumulate more bitcoin.

I really appreciate your reply with details because now I am trying to read and following few things most chances I will go ahead with my weekly option because currently this is suitable for me and I can accumulate every week which will help me for having long term profit.
But here now I have one problem I never want to stock them on any exchange and having this in my Electrum wallet has never been easy because this need good fees for withdrawing from exchange site hopefully I will do something about this as well because some time back I have nearly 1 bitcoin in cryptophia, but It's never came back into my pocket after this exchange disappear.