Quote from: ginsan on October 16, 2024, 09:09:11 PM

Quote from: bigmanik on October 16, 2024, 04:46:51 PM

You proposed that it would be advisable to have 2 wallets one meant for spending and one meant for holding but what is the need of converting that money to Bitcoin if you know you are going to spend it
I'm just saying if you are in need of that money when Bitcoin is in a deep you will end up running at a lose why not just keep the money in your local currency where its worth won't depreciate when it's needed and only buy Bitcoin that you intend to invest ?
Well this is just my opinion by the way

Actually, an idea like that is not good and we should invest with money that we have prepared, for example 10% and it will not interfere with our daily expenses because we still have cash that we have because we only divert 10% to invest in bitcoin. Don't use a strategy that is wrapped in a wrap that makes you even more dizzy in making decisions, run me in a simple way and that's better.

Not just an actual 10% of what we earn, it could be more or just less depending on our level of accounting for paid expenses and bills, savings and reserved funds including every other minor fees. The whole concept should be investing at ease, and not above budget putting the investor at risk of going shot from what he has left. All strategies are unique, either using any we still get profits from using them, the only avoidance is not spending much or aggressively entering the market which will definitely have a regretful impact in our proceedings.

Quote from: ginsan on October 17, 2024, 09:10:06 PM

Yes, today you are trying to buy the first BTC with your plan for long-term investment, you have a strong mentality and I hope you can apply the DCA strategy with follow-up purchases until you reach your accumulation target. Keep your idea of DCA and never be tempted by other methods that can confuse you with the situation in the investment you are making.

It is great seeing someone starting up his investment this way, a great start and deserves some level of encouragement which i can see some users already following up. While we can suggest the use of DCA approach which many investors already find convenient using we are not supposed to flush out the test of every other strategies out from his journey, at this beginning stage we can only advise to stick with the DCA but as time goes, i think it becomes more easy and approachable trying out other options because in a satisfying pattern they can all be put together to get a desired portfolio.