Post
Topic
Board Nigeria (Naija)
Re: DCA NA THE BEST STRATEGY FOR NEWBIE IN ACCUMULATING BITCOIN
by
Cryptokuus
on 16/10/2024, 07:52:02 UTC
DCA Na the best strategy for newbie to be able to accumulate enough bitcoin. As newbie wey never get idea about bitcoin, this method is less stressful compare to other method. In this method you no need to time the market before you  buy, all you need Na to ready your money ,make plans how you want take dey invest your money, weda Na weekly or monthly basis. Depending on how your income take they come. You go also plan how long u want hold the bitcoin bcos this method no be watin u want do for months, Na year matter be this, like 5_yrs or more depending on ur plan.
 DCA no be for people wey want make quick gain , so if u no fit get patience this method is not for you. why I said this method is best for newbie, be say as a newbie wey never get much idea about bitcoin to go do lump sum fear go dey your body  as newbie but with DCA you will be buying the bitcoin small, small until u done get enough for ur portfolio. this strategy go give u enough confidence, you can buy bitcoin at any time, even the price is up or down. so as a newbie u don't have to wait for the price of bitcoin to go down (DIP) before u start your bitcoin investment, DCA is there for u. lastly, in order for not to trade ur bitcoin at the early stage of your investment, you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.
I have really learnt a lot about the dca strategy  and am going to adopt this strategy in accumulating Bitcoin just like u said op that it involves gradual accumulation  of Bitcoin, this strategy i think is good for low salary earner since dey dont  need to start with huge amount of money.