Quote from: Kelward on Today at 07:59:35 AM

Quote from: AirtelBuzz on Today at 05:40:11 AM

Quote from: Obim34 on October 17, 2024, 12:11:29 PM

Imagine if an average earner wants to get involved in Bitcoin and prefers to trade instead of purchasing and holding through his DCA plans, what will be your advise? clearly he has more vulnerability of losing than earning. Anyone starting his Bitcoin journey should consider every possible options of investing and holding instead of trading, aside new investors, it is more profitable holding due to certain scenario's that can lead to loses if trading is prefered.

If an investor wants to get involved in bitcoin investing and trading instead of buying bitcoin continuously through DCA then my advice is to invest instead of trading. Had the person understood the difference between trading and investing, he might have opted for investing. Trading involves high risk, moreover you must acquire a lot of skills and have a lot of market analysis ability to get success from trading. On the other hand if you start investing with DCA strategy then you can start with little knowledge which will increase with time. This method is also applicable for inexperienced investors.

Most people get success from investing because investing is long-term. So I think being an investor is better than being a trader. The few big bitcoin holders in the world so far are investors, not traders. They have been able to achieve such success by investing in Bitcoin regularly.

For the average person that wants to venture into Bitcoin as a business and doesn't have much technical knowledge about cryptocurrency, it's always better to go into investment. Due to the volatile nature of cryptocurrency it makes trading to be risky and without diligently learning the technical and fundamental analysis it'll become gambling. Bitcoin invest is quite easy to start, it basically requires you to understand it's circles and how to secure your wallet from scams and hacks. DCA method is highly recommend, especially for income earners to grow their investment capital and increase their ROI on the long term.

Yes, of course in this case it comes back to knowledge and indeed for people who don't have extensive knowledge in trading, it would certainly be better to invest long term in BTC. because indeed by investing in BTC for the long term, according to my experience, of course, in terms of the mentality of investing for the long term in BTC, it is certainly more secure because of course you don't have to look at the market all the time and also when there is a small decline, you are not surprised because of course BTC, even though it is volatile, is Of course, the price of BTC has the potential to be higher in the future.

Yes, it is true that trading BTC is certainly not easy because the price fluctuations will certainly make it difficult for some people, especially those who don't have the knowledge, to predict the right price when entering and the right time when selling. But honestly, in my opinion, it is possible to trade in BTC as long as you have large capital plus sufficient knowledge.

Yes, it is true that investing in BTC for the long term is of course very easy and using the DCA system is of course a good way. Yes, it's true that we also have to be careful when saving BTC and of course we have to know the BTC cycle and others, but what is certain is that before investing in BTC, we have to be prepared for the risks of investing in BTC and to be honest, I personally have also felt the many benefits of long-term investment in BTC. btc. But of course everyone has different desires, but of course in any case, knowledge must be prioritized and of course trading is also not a problem as long as you have extensive knowledge.