The First bitcoin investment in my life.
I started the first investment of my life today, it's a new experience for me. Although it is much less in amount, but I will continue it regularly, and thus hopefully one day my portfolio will be much bigger. I have high hopes for Bitcoin's potential and its future. So I will now convert this investment into a long term plan and invest regularly on a monthly basis. I have learned about DCA, and I am proceeding through this DCA from now on. For newbies like me, I say, research properly and keep yourself updated and go ahead with a long term plan with faith in Bitcoin, hope everyone can succeed in this journey one day.
First of all, congratulations to you for making the right investment decision. To start investing in bitcoin, you don't need to have a lot of capital, with a little capital you can also do it just by using the strategy you are currently using, namely the dca strategy. Because if done consistently, your portfolio will continue to grow. Moreover, your goal is to invest for the long term, of course this indirectly means you are building assets for a brighter future.I started the first investment of my life today, it's a new experience for me. Although it is much less in amount, but I will continue it regularly, and thus hopefully one day my portfolio will be much bigger. I have high hopes for Bitcoin's potential and its future. So I will now convert this investment into a long term plan and invest regularly on a monthly basis. I have learned about DCA, and I am proceeding through this DCA from now on. For newbies like me, I say, research properly and keep yourself updated and go ahead with a long term plan with faith in Bitcoin, hope everyone can succeed in this journey one day.
What is certain is that in holding bitcoin in the long term you will encounter many fluctuating markets and that will test your emotions, you must have confidence that market movements will continue to increase and even if the price drops it is only temporary and that is normal so you don't need to panic. You have to wait and be patient and when it reaches the price you planned, gradual profit taking can also be done. What you need to instill in your mind is not to expect to get rich overnight in cryptocurrency investments,especially in bitcoin because getting rich is not that easy, it takes patience and precision. This advice may be stale, but it's okay if advice continues to be repeated so that we remember our investment goals. Good luck.
You have just started investing and now you need to make your target much bigger. Like all other investors you must take care that you do not get lost in the consistency of investment. Think of investing as always investing. If you approach a job as professionally as you treat it as fun, then the job will seem much easier for you. If investing is stressful for you then I suggest you take a break and think about your future and start again. If you can think about investing in this way then surely you will find consistency in your investment. Based on what is your source of income and how much money you can get from it monthly, you plan to invest consistently with the money left after excluding your total expenses and other incidental savings. If this is how you plan your investment then surely you are successful.
Like you said, he just started his bitcoin investment, and it is wrong to tell him that he needs to make his target bigger because it will only put pressure on him, and he might get stuck trying to increase his monthly DCA money. You don't know if he has a shitty source of income; just allow him to continue with what he has for now; maybe that is what his discretionary funds could allow him to invest in bitcoin with. You sound as if investing in bitcoin is the same thing as someone lifting weights, but I want you to know that no stress comes with investing your money in bitcoin. You can invest in bitcoin even when you are traveling; you just need your phone and access to the Internet to be able to invest in bitcoin. And let's mind the choice of words we use here so that newbies will not get the wrong impression about bitcoin that will make them lose hope in starting their bitcoin investment.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.
Even though the DCA strategy is the perfect strategy for a newbie to start with his bitcoin investment, which he has adopted, I think it is not right to advise inearth not to learn about other methods of accumulating bitcoin because there is a need for him to do so. Because at some point, he might want to lump sum on bitcoin so that he can increase the size of his bitcoin and still maintain his DCA strategy. The DCA strategy is very simple and easy to use, and learning about other strategies will not get him confused.