Hello guys, I’m new to the thread and I want to understand more about buy buy or sell sell , I want to know more about buying and accumulating Bitcoin, I will be glad if you guys can help and reply or give answers to my questions
Thank you .
You should provide some information about yourself and your goals and perhaps you can provide that information without getting into too many specifics.. perhaps talk in terms of hypotheticals or maybe percentages.
Have you bought any bitcoin?
Do you have other investments? how about debts and expenses?
Do you have a steady income? Are you expecting your income to change? Do you know your discretionary income? is it steady or does it vary?
Do you have emergency funds? or other kinds of back up funds?
What are your thoughts about bitcoin as compared with other places where you might invest?
What is your investment timeline?
It is hard to treat you like an investor if you have less than a 5 year investment timeline, and you did not say that the reason for such a short investment timeline was because of either health and/or age.
Initially I thought five years timeline will be okay but with your statement I have come to realize that five years will not be tangible to accumulate a good amount of btc, and of course I’m bearly 25years Entrepreneur which means I still have a long way to go , I have a plan of increasing my timeline from 5 years to 15 years or probably 20years since I’m still young and I’m not old neither do I have any health issue .
It is hard to treat your ideas of investing into bitcoin seriously if you cannot establish a longer timeline... and so you are merely wanting to get into bitcoin and then get out of bitcoin with some dollar profits, and you will likely miss out on a likely compounding value that comes from holding bitcoin longer (such as for a lifetime and then potentially converting into sustainable withdrawal at some later point).
I’m not actually trying to get in and out of bitcoin with some dollar profit , just that I’m new to the Bitcoin investment and I never knew long timeline will be more profitable than short timeline but with this conversation I have come to understand that investing in Bitcoin in a long timeline is better than short timeline, i wIll try my best to invest Bitcoin in a long timeline .
How do you expect any of us to help you with figuring out strategies that you might be able to apply, if you are merely planning to trade in and out of bitcoin?
All I needed was to be enlightened since I’m new into Bitcoin ,I never had in mind to trade in and out of Bitcoin , And I’m not planning to trade but to invest and accumulate a good amount , I have come to realize , and I now have a good knowledge of 10 to 15years investment and the benefits , so I expect everyone to assist and guid me right so I won’t make a mistake that is all .
What are you doing to make sure that your able to invest into bitcoin for the long term? You do not need to give your specifics, but you could still describe if you have started investing into bitcoin and it you are establishing back up funds and maybe
outline some of your individual particulars without necessarily describing your exact circumstances.
There are ways to ask questions without necessarily describing too many individual circumstances, and sometimes we might present hypothetical persons too that may or may not have similar circumstances as ourselves.
In our previous discussion I talked about how I have other investment that I make profit from, I would have like to describe in detail but since you said that I do not need to give my specifics, I think there would be no need to describe it any more for safety purpose since everything remain private here, I wouldn't want to describe any of my circumstances. At first I was finding it difficult to invest into Bitcoin since I don't have a good knowledge about Bitcoin, but Last week I invested $10 with the help of my brother, I plan to increase my investment to $20 and above as time goes on, but for now since I am new to Bitcoin and don't know much on how to buy bitcoin myself I will be learning on how to buy Bitcoin from exchange and send to private wallet, to get started with to avoid revealing my safety to a third party, I am just being careful to avoid mistakes.
Knowing how to buy or accumulate Bitcoin is one of the first thing you should know when starting Bitcoin investment because it is very necessary and buying from exchange and sending to your private wallet will cost you some unnecessary fees and so to avoid or prevent that you should meet someone that can teach you how to go about it, you can only reveal your private details to someone if you showed the person your device while login and to avoid revealing it, you can login before meeting the person or the person can still use his or her exchange to teach you how to do it.
In as much as I will love to say the money you are using is small, I will also want to congratulate you for starting first at least and I want to believe this $10 is what you can afford to let go and $10 means that your sources of income is very small but it doesn't matter how small you start what matters is how you will end, your consistency.
Yeah I know how important it is to know how to buy or accumulate bitcoin by myself, because anything investment one should be very careful and also source for help and knowledge that is the main reason why my brother is helping me out by teaching me how to go about it .
The money maybe too small but it’s for a start I’m on the training process , just as I said with time I will increase my investment, it could be weekly or monthly, what matter most is consistency and determination, what I started with shouldn’t be a problem to you , Also saying that $10 is what I can afford let go is totally not an investor mindset , investment is not a gamble where you put what you can afford to lose , investment is a positive mindset and having a desire goal with a target , starting with $10 doesn’t necessarily mean my income is too small , it’s a gradual process , I’m learning how to do it by myself, I will increase it overly as time goes on .
The most important things are to invest and to continue accumulating as well, now it depends on your income rate and the amount of discretionary funds to be able to continue and be consistent in accumulation, it is not mostly important for you to be aggressive in accumulation, rather you want to front load your bitcoin, for a low coiner and and someone with low income focusing on accumulating little by little on a weekly basis or monthly Basis depending your income and discretionary funds, just keep investing and accumulating and hold, Till whenever we can be able to accumulate aggressively and front load as well. But
righright now it is mandatory for me to keep accumulating gradually and little by little till I can achieve my goal.