I have decided to invest in Bitcoin, I know about DCA and DCA's feasibility, and I have gained a rough understanding of Bitcoin and Crypto. But I still don't know much about them. But I decided to start investing in Bitcoin. And in DCA I will continue to invest and slowly learn everything about crypto. Hopefully I can move forward in this way.
Just to invest in Bitcoin, we don't need to have complete knowledge about Bitcoin, we can start investing only if we know the basics.
Preliminary planning is always very important before starting a new investment. A novice should take firm decision before starting investment, he should not think about profit, his plan should always be long term. If a new investor makes a proper plan and believes in the future potential of Bitcoin and buys Bitcoin for a long period of time, then he can definitely make a profit in the future.
But before you start investing, you must pay attention to your financial management. You need to create a strong source of income.
There are times in our life when our monthly expenses are higher than usual, i.e. during inflation, our expenses will increase due to inflation or extra expenses, at this time, you will reduce the amount you use to buy bitcoins in that particular month. But you have to keep in mind that time so that your investment does not stop at once. You need to continue investing, if your cost is low, you can increase the amount of Bitcoin investment, and if the cost increases, you can reduce the investment amount, but in no way can you stop investing in DCA.
And I think an investor must have a reserve fund and emergency fund before starting investment, so that his investment does not stop in any way.
That is, in any unexpected situation, you can handle that situation with that emergency fund.
Definitely plan DCA long term, if you manage DCA properly we can slowly build our bitcoin stash. A "hodley" or long-term investment attitude is the key to success from DCA.