A large number of people think they are late when they first come to bitcoin, yet since there is no way to turn back the clock, each person has to decide whether and if so how to invest into bitcoin based on coming to bitcoin today rather than fantasizing about having had been able to come to bitcoin earlier.
The advice to get started as soon as possible is going to continue to apply, so hopefully anyone coming to bitcoin can figure out how to get started and just start plow away at accumulating bitcoin, since it can take a long time, such as 4-10 years or longer just to build up a meaningful bitcoin investment portfolio, unless they might be able to front load their investment...and surely taking loans does not sound like a great way to get started, since any of us should be starting with easy and more basic techniques prior to jumping into more sophisticated ways of getting bitcoin.. and more sophisticated is not necessarily better, especially if you have not first gotten your cashflow management in order.
That’s totally right. I hear a lot of people complaining and saying it’s too late to invest in Bitcoin now that the price is pretty expensive, and it’s pitiful to see some Bitcoin enthusiasts think that way. The honest truth is that, it’s never too late to join the Bitcoin party, it’s never too late to get started and join the moving train. I also advise such a person to focus on the opportunities that they see today and what they can make of it, rather than dwelling on the past and what could’ve been.
Of course it is never too late, yet anyone getting in sooner rather than later are likely going to be better off than the continued procrastinators and the deniers.
The advice to get started ASAP is sharp for real, because some people would wanna have a lot of money to lump sum into Bitcoin, or have several sources of income that brings them so much income by the end of the day, but achieving this might take a lot of time, considering that there’s a lot of thing to get done, saving that much cash for investment might take a life time and so it is with building several sources of income, I could take years, and that’s how you’re missing out on certain opportunities.
Almost all investments work best with DCA, since an overwhelming majority of the population don't already have investments, and so they have to build, and the building is best done with DCA, since the money and wealth is not going to just appear out of thin air.
Of course, with any investment that includes DCA, it is better if the asset is generally trending up and likely to continue to trend up, even though in the short-term it may be trending down. In other words, I am suggesting that DCA works with assets that have strong fundamentals.. and so not shitcoins.. ..and so yeah, DCA is great for bitcoin to the extent that you are not able to frontload and/or lump sum invest into it.
iIt’s really not about investing lots of cash first, every little bit that you invest counts and as long as ahoy apply consistency, patience and discipline.
I consider DCA as a way to invest as much as you can as soon as you can, and sure if someone has more money available when they start, then they have more optiions to consider if they want to put it in right away or if they want to defer based on time (DCA) or defer based on price (buy dips), and sure the deferring based on price might not end up happening, so it is risky.
Yeah, building a very solid Bitcoin Portfolio may take a lot time, which is more reason that patience is key and never rush into anything, especially those things that’ll make you uncomfortable, start with what you’ve got and then expand your portfolio.
I see people say Bitcoin investment is very complicated, especially when you’re about to start, but that doesn’t have to be the case because you can start with the basics, like you dedicate time in learning and understanding how Bitcoin really works first, then move further to setting up your wallet, and then next thing is to learn about different investment/accumulation strategies, identify your financial goals and targets and then choose a strategy that aligns pretty well with your goals and then get started. It’s just as easy as that.
I agree that hardly anything need to be known from the start, except knowing whether or not you have any discretionary in which you can get started. The rest can be learned along the way and the bitcoin accumulation (buying) approach can become more aggressive with the learning of the things that you mentioned above.. and sure there can be a lot to learn with bitcoin, but not too much is needed to be known or suspected about bitcoin in the very beginning beyond some kind of suspicion (or hunch) that number tends to go up...even though it might not go up in the short term.
Yeah, I also think that taking loans simply because you wanna invest a sizable amount in Bitcoin is absolutely not the right way to go about this. Rather thinking of taking up loans for the sake of investing, it’s better to first set your financial foundation in order, as well as your financial backups and then you can start to explore more advanced strategies and techniques to invest.
No problem if guys want to add more advanced strategies, if they first start out with the basics, and then assess for themselves that they want to employ more advance strategies (that do not tend to be necessary in bitcoin anyhow.. but still people like to gamble).
And lastly, have your own pace and never compare or measure your pace and progress with someone else who may have already started their journey pretty much earlier, even if it’s someone you started the journey together, it’s still not idea to compare yourself, became every investor have their own pace and their journey. So focusing on yours would give you more insight and ideas on how to improve and advance, and no matter how small you think your achievements are, it’s best to celebrate them and work towards further growth.
Yep.. we should attempt to tailor to
our own individual factors and if we measure against anything, we measure against versions of ourselves.