Quote from: Barikui1 on Today at 07:07:32 AM

Quote from: Mayor of ogba on Today at 06:47:37 AM

Quote from: Gallar on Today at 04:10:06 AM

If for example Viktor Winer did DCA with a small amount of money, I also agree that the right action is to store his bitcoins on the exchange first so that the bitcoins increase and after they have collected more, then the bitcoins are sent to a personal wallet.

The purpose of investors storing their bitcoin on a centralized exchange during their accumulation process is not for the bitcoin to increase in value in the centralized exchange but for them to actually accumulate enough bitcoin so that they can withdraw it at once to their personal non-custodial wallet and also pay for the centralized exchange withdrawal fees at once too, rather than withdrawing their bitcoin on several occasions when they have not even accumulate bitcoin that is worth $500-$1000 and end up paying for the centralized exchange withdrawal fees anytime they withdraw their small bitcoin to their personal non-custodial wallet, which will make them waste a lot of money paying for centralized exchange withdrawal fees.

I still sees it as a terrible decision leaving your Bitcoin in a centralized exchange regardless of what so ever because if anything happens to that exchange in question like hacking or internal theft your Bitcoin is good as gone, but in this case where you are using it to buy Bitcoin through the DCA accumulating strategy, and the fraction of the Bitcoin is too small to be moving out anytime you make a purchase, in my own opinion, I would rather wait and be withdrawing it to my self custodian wallet on my second purchase, and it must be weekly, like every two weeks, keeping it for a month is too risky, so I will be moving my two weeks purchase to my self custodian wallet every two weeks, anything more than that is too risky , it's better for me to pay the higher transaction fee and my Bitcoin is safe, than to be greedy and be risking my Bitcoin by leaving it in an exchange for longer duration.

You sound like someone with a large discretionary income, because if you have a small discretionary income and you want to be buying bitcoin every week and send it to your wallet after the second purchase, you will end up using the money that you are suppose to be using to build and grow your bitcoin investment to pay for transaction fees. If you are spending $100 to your self custody wallet from an exchange with someone sending $1000 is the same fee when transferring from an exchange.

Imagine that the transaction fee to send bitcoin from an exchange is $5 and you are buying bitcoin worth of $50 every week. In one month, you will have tranfer $200 an additional transaction fee of $10 which makes it $210 or you receive $190 without extra funds in your exchange account. Do you know how much Bitcoin $10 will get for you in 4 years time. How will your save your investment from high transaction fee in future is what you should also consider.

As long as you are a pleb bitcoin investor using DCA consistently and persistently to grow your bitcoin stash, you cannot do without leaving your bitcoin in an exchange or with a third-party for the period of time that you are accumulating it into a reasonable amount before moving it to your self custody wallet. This is what I always do, because whatever funds that I have sent to my self custody wallet cannot be tampered with till I have accumulated more than enough Bitcoin.

Quote from: Cryptohygenic on Today at 11:30:08 AM

Mainly reason being why holders having their funds on the Centralized exchange is for quick execution of transactions such as quick trading and exchange of coins before market prices takes a U-turn against invest plans. That also has to do with considering transaction fees which could be more expensive if initially was stored in the non custodial wallets.
You should agree with me that most short term holders stores their bitcoin in the centralized exchanges to carry on their quick transactions

These set of people are not holders but traders because a long-term bitcoin holder does not convert his bitcoin to USDT for no reason even when the price of bitcoin is at the bottom line of the dip. You are sounding like a trader who is also into shitcoin. Invest in bitcoin for a long-term and you will be happy that you took the bold step now.

Quote from: Mayor of ogba on Today at 06:47:37 AM

The purpose of investors storing their bitcoin on a centralized exchange during their accumulation process is not for the bitcoin to increase in value in the centralized exchange but for them to actually accumulate enough bitcoin so that they can withdraw it at once to their personal self custody wallet.

You are saying the same thing, because while to you are buying more bitcoin to the one you already have, the value also increases.

Quote from: GiftedMAN on Today at 01:45:23 PM

People should have general knowledge of Bitcoin investment even though they are yet to invest it helps them to differentiate between good and bad information when they come across one and it gives them an edge over scammers when they encounter them.

When you don't have any bitcoin how will a scammer scam you and what are you protecting. Is just like if someone without any bitcoin has a clipboard malware, he doesn’t have any funds to transfer to anywhere. Therefore, he wouldn't know if he has clipboard malware since he will not paste any wallet address to send funds. Anyone who believes in bitcoin who definitely look for a means to invest in bitcoin by looking for a means of income with a discretionary income.