Hi guys, I'm reading your posts for a while already, and I just registered myself in order to ask an easy question for you. I don't want to disturb you if it's a typical one but, I didn't read it here in this topic, which is the only one I'm following.
What is your practical strategy to DCA? I mean, what platforms do you use? Are you using exchanges? Are you using the Ledger purchasing options to buy? Are you using private P2P transactions? Where?
Thank you in advance.
Welcome to the forum.
You can run your DCA buying weekly, biweekly or monthly. It all depends on when you get your paid. You should only use your discretionary income to invest into bitcoin so that you can continue buying with that amount every week/month regularly, consistently and persistently for 4-10 years and above to build and grow your bitcoin investment to the target of your choice.
I use exchange to buy my weekly bitcoin via p2p trade as the amount of bitcoin that you paid for will be sent to your exchange account and making payment. It's also good that you leave your bitcoin in the exchange until you have accumulated up to $500 and above before you send it to your self custody wallet.
Emergency funds is very essential when you are investing in bitcoin because your emergency funds is a backup to your bitcoin investment so that when real emergency arises, you can get rid of it instead of selling your bitcoin to solve an emergency. It's 1 he good that you set up your emergency funds along side as you have started your bitcoin investment.
You can share your discretionary income into two parts, as you have started investing into bitcoin, you use one part to build and grow your bitcoin investment and use the other part to build your emergency funds of at least three months of your monthly income. Learning and investing at the same time is good because it will help you grow and build both your investment and your knowledge in bitcoin simultaneously.
It's better that you get started immediately without wasting time if your discretionary income and available because you can start with as little as $10.