Many Ways To Make Money in Cryptocurrency

[Dr.Bitcoin_Strange]

As far as I know, something that is forced will not be able to provide beautiful memories or produce something profitable. In this life, if we work for real but are full of coercion, the results will certainly not be satisfying. For investing in Bitcoin, we also cannot force it with the funds we have and I also don't want to force myself to force buying Bitcoin for investment.

Aggressive accumulation of Bitcoin could have disastrous effects on one's financial security as well as your financial goals, especially when the money you're using to invest was initially meant for something else or intended for short term use.

Bitcoin accumulation is well done with your discretionary income, because when you invest with your discretionary income, you can rest assured that you've attempted to other things that needs attention and thereby do not have to worry about investing with money meant for something else. And of course like I emphasized earlier, having a solid financial backup is also very important, it's just as important as the investment itself.

So yes, Bitcoin accumulation isn't something you rush into, it's something you plan for and put several things into adequate consideration too before beginning your accumulation journey because that's a long term journey and should be adequately prepared for.

[Report]

As far as I know, DCA is also used by investors for long-term investment so that for investment in Bitcoin with the DCA system, everyone must know what the risks are.

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I usually recommend dca to anyone who is just starting their BTC journey,
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Besides Bitcoin, does this DCA also apply to Ethereum coin purchases? This is just a comparison.

Unfortunately, to use this DCA system requires a stable income and this is very difficult for me because I only work as a private laborer whose daily income is uneven or uncertain. Unless maybe my job is stable and I get a flat salary every month then I can definitely do DCA to buy Bitcoin. It's also hard now because getting free Bitcoin is not easy and may be very different from a few years ago when Bitcoin was still cheap, with a nominal of 10 dollars you can get 10 Bitcoin.

Nowadays, there's no such thing as "free lunch" already. What I'm saying is, there's no such thing as "free Bitcoin" right now because we're not in the years where faucets are big enough for us to get free tokens.

Your story is exactly like what is happening in my current life. Nothing is free and even to sleep we have to pay unless maybe I become homeless on the streets.

DCA is really hard for somebody that doesn't have a stable income "UNLESS" his income despite being unstable is more than enough to cover your monthly expenses plus you have spare money that you can use to invest into Bitcoin but aside from that, you will be having a hard time doing this strategy. If you really want to invest into Bitcoin, I guess this is the time for you to find a more stable job instead of being a private laborer. I'm not saying that your job isn't good especially if it feeds your family, but if your desire to buy Bitcoin is way bigger then maybe find a more stable job, or you can also stay as a private laborer, but find another income source.
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That's true, it seems like it would be very difficult for me to do DCA every month, let alone every week. Unless maybe I get an inheritance from my parents worth hundreds of thousands of dollars but unfortunately my parents are not from the rich family either.

And there is one more thing, which is finding treasure, maybe when I walk in the forest and find 1kg of gold then if that happens I will definitely keep 1/2 of the gold and the other 1/2 I will buy Bitcoin. This is only my imaginations.

As far as I know, something that is forced will not be able to provide beautiful memories or produce something profitable. In this life, if we work for real but are full of coercion, the results will certainly not be satisfying. For investing in Bitcoin, we also cannot force it with the funds we have and I also don't want to force myself to force buying Bitcoin for investment.

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So yes, Bitcoin accumulation isn't something you rush into, it's something you plan for and put several things into adequate consideration too before beginning your accumulation journey because that's a long term journey and should be adequately prepared for.

I also think the same because investment must be with a calm mind and a wise soul because once the price of the BTC I bought goes down, the USD estimate will also go down. While for daily needs, the price goes up. DCA for the long term in Bitcoin is not easy because it must be done with a mature mind.

[vegasus]

So yes, Bitcoin accumulation isn't something you rush into, it's something you plan for and put several things into adequate consideration too before beginning your accumulation journey because that's a long term journey and should be adequately prepared for.

Actually accumulating Bitcoin is very much in Crypto and this is precisely the most dominating in Crypto Space related to investment. It's just possible for the method used so as not to make stress or depressed so much great because of the desire for this accumulation. And moreover, the accumulation of bitcoin at a time that might not be right can also be able to go on a few things. To be sure, the accumulation of bitcoin can be done by applying DCA consistently, that is if indeed we can really spend the funds free for Bitcoin investment.

[Z-tight]

To be sure, the accumulation of bitcoin can be done by applying DCA consistently, that is if indeed we can really spend the funds free for Bitcoin investment.

People should simply choose what works for them, based on their realities in real life. As for BTC, it has its utilities and you are sure that it is not a pump and dump coin, so you can buy with any strategy you like, just be patient and ready to hold your coins for the long term, and you are certainly going to make returns.

[LogitechMouse]

DCA is really hard for somebody that doesn't have a stable income "UNLESS" his income despite being unstable is more than enough to cover your monthly expenses plus you have spare money that you can use to invest into Bitcoin but aside from that, you will be having a hard time doing this strategy. If you really want to invest into Bitcoin, I guess this is the time for you to find a more stable job instead of being a private laborer. I'm not saying that your job isn't good especially if it feeds your family, but if your desire to buy Bitcoin is way bigger then maybe find a more stable job, or you can also stay as a private laborer, but find another income source.
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That's true, it seems like it would be very difficult for me to do DCA every month, let alone every week. Unless maybe I get an inheritance from my parents worth hundreds of thousands of dollars but unfortunately my parents are not from the rich family either.

And there is one more thing, which is finding treasure, maybe when I walk in the forest and find 1kg of gold then if that happens I will definitely keep 1/2 of the gold and the other 1/2 I will buy Bitcoin. This is only my imaginations.

Always think that we are living in a cruel world where nobody will help you except you yourself. If you will not do everything, you will not get what you wanted. Don't imagine something that you don't even have in real life.

Inheritance? You already said that you're family aren't rich as well. Finding treasure? Going to the forest and find 1KG of Gold? Your chances of getting that would be higher if you will go to a river and do what gold miners are doing there. Imaginations will remain as imaginations unless you do something. This might be harsh on your part, but I would suggest that you should get another income source. That's for your own sake as well if you really want to do DCA with Bitcoin.

[Dr.Bitcoin_Strange]

I also think the same because investment must be with a calm mind and a wise soul because once the price of the BTC I bought goes down, the USD estimate will also go down. While for daily needs, the price goes up. DCA for the long term in Bitcoin is not easy because it must be done with a mature mind.

That’s very true, and that’s the exact reason why people must always prepare for it adequately. It’s just like starting a long term project, like building a house or maybe a new business in a totally new location, it requires lots of adequate planning, patience and consistency in order to achieve success, and this is something that requires a mature mind as you’ve rightly said.

With the right preparation and the right mindset, DCA is very much achievable in most easiest ways, you just need to know what to do, when to do it and how to do it, and every other thing becomes secondary

[Z-tight]

This might be harsh on your part, but I would suggest that you should get another income source. That's for your own sake as well if you really want to do DCA with Bitcoin.

Some people may consider it to be harsh, but i think it is just the truth and sometimes people find the truth bitter or harsh. To accumulate BTC, one must have a source of income or a certain skill they can offer to people and get paid in BTC. It is not as simple as saying you want to accumulate BTC, do you have the wherewithal to do so?

[Report]

DCA is really hard for somebody that doesn't have a stable income "UNLESS" his income despite being unstable is more than enough to cover your monthly expenses plus you have spare money that you can use to invest into Bitcoin but aside from that, you will be having a hard time doing this strategy. If you really want to invest into Bitcoin, I guess this is the time for you to find a more stable job instead of being a private laborer. I'm not saying that your job isn't good especially if it feeds your family, but if your desire to buy Bitcoin is way bigger then maybe find a more stable job, or you can also stay as a private laborer, but find another income source.
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That's true, it seems like it would be very difficult for me to do DCA every month, let alone every week. Unless maybe I get an inheritance from my parents worth hundreds of thousands of dollars but unfortunately my parents are not from the rich family either.

And there is one more thing, which is finding treasure, maybe when I walk in the forest and find 1kg of gold then if that happens I will definitely keep 1/2 of the gold and the other 1/2 I will buy Bitcoin. This is only my imaginations.

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Inheritance? You already said that you're family aren't rich as well.

That's why I said that I was in a difficult position to use the DCA method to buy Bitcoin from inheritance.

Finding treasure? Going to the forest and find 1KG of Gold? Your chances of getting that would be higher if you will go to a river and do what gold miners are doing there.

*https://www.youtube.com/results?search_query=find+gold+from+river* , Maybe that's how it will be because your advice could make me determined to find gold in the river. I saw the video on Youtube that it seems very easy to find gold in the river.

Imaginations will remain as imaginations unless you do something. This might be harsh on your part, but I would suggest that you should get another income source.
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No problem my friend, I prefer to get advice from people who are experienced in various fields including in buying Bitcoin. Unfortunately I only focus on finding capital to buy Bitcoin, if only I had a lot of money I would have gradually bought Bitcoin easily.

I also think the same because investment must be with a calm mind and a wise soul because once the price of the BTC I bought goes down, the USD estimate will also go down. While for daily needs, the price goes up. DCA for the long term in Bitcoin is not easy because it must be done with a mature mind.

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With the right preparation and the right mindset, DCA is very much achievable in most easiest ways, you just need to know what to do, when to do it and how to do it, and every other thing becomes secondary

Unfortunately, I keep focusing on my capital problem because I don't have a fixed income every month. I also feel that DCA is suitable for me if I want to invest in Bitcoin because I pay it in installments every week or month but unfortunately I don't have the funds. My focus now is to find the funds because with the funds I can use the DCA method to buy Bitcoin.

[taufik123]

When I say Emergency Fund, I'm talking about funds kept aside for emergency buys or unexpected dips (if that's what you're insinuating) I'm talking about money kept aside, not for investing or buying more Coin, but kept specifically to take care of real life emergencies, like paying for hospital bills, car repairs and other unexpected turn of events that may require immediate financial attention to avoid using money from your investment to sort out those emergencies, thereby providing back up for your investment. That's what I mean by backup or emergency fund.

If that's what you mean by an emergency fund, then the funds should not be used for investments and only for emergencies in your life.

I said that reserve funds are only limited to investment and I distinguish between money for investment and money for living needs.

Good management will manage everything and an investment will not interfere with finances for real life.
But there are still many people who have no limits and end up using emergency funds to enter coins as investments, but the need for their lives is ignored, this will make the investment not go as planned when the needs of life are very urgent.

[Dr.Bitcoin_Strange]

Unfortunately, I keep focusing on my capital problem because I don't have a fixed income every month. I also feel that DCA is suitable for me if I want to invest in Bitcoin because I pay it in installments every week or month but unfortunately I don't have the funds. My focus now is to find the funds because with the funds I can use the DCA method to buy Bitcoin.

It can indeed be rather overwhelming to invest in Bitcoin using the DCA or any other strategy without an Income source (fixed or not) or a sustainable alternative, since it’ll require you to regularly invest or buy a specific amount at a particular interval and especially when you’re still focusing on your capital problem or undergoing some sort of financial emergency. You’re right to want to first adequately prepare yourself before embarking on your accumulation journey because this should be like your future investment, so requires adequate planning in order to sustain it for the long term as intended.

[Report]

Unfortunately, I keep focusing on my capital problem because I don't have a fixed income every month. I also feel that DCA is suitable for me if I want to invest in Bitcoin because I pay it in installments every week or month but unfortunately I don't have the funds. My focus now is to find the funds because with the funds I can use the DCA method to buy Bitcoin.

It can indeed be rather overwhelming to invest in Bitcoin using the DCA or any other strategy without an Income source (fixed or not) or a sustainable alternative,
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Unless maybe I work as an office worker or I have a job in the government which usually in my place I work like that I get a salary every month. With that monthly salary I definitely have the opportunity to use the DCA method, maybe I will take 5% of my total salary to buy Bitcoin. The rest of the 5% of my total salary I will deposit into the local market to buy Bitcoin and I also have to be careful because the market in my local area is very extreme and many are not trusted.

[Dr.Bitcoin_Strange]

Unless maybe I work as an office worker or I have a job in the government which usually in my place I work like that I get a salary every month. With that monthly salary I definitely have the opportunity to use the DCA method, maybe I will take 5% of my total salary to buy Bitcoin. The rest of the 5% of my total salary I will deposit into the local market to buy Bitcoin and I also have to be careful because the market in my local area is very extreme and many are not trusted.

Rather going to your local market to buy the bitcoin, you can just consider doing so from a reputable exchange, there are lots of reputable exchanges where you can make use of their P2P services or even buy with your bank card, depending on the country you’re from and how the regulations there apply to Bitcoin purchase and trading. But if your country supports bitcoin then surely you can easily buy bitcoin with your bank card through a reputable exchange. I believe that would be a lot more convenient and more secure than going to your local market to do so.

[BitMaxz]

I also have to be careful because the market in my local area is very extreme and many are not trusted.

If you don't trust anyone in your local area to buy Bitcoin then avoid them I'm sure it's not the only option to buy BTC in your area how about Bitcoin ATM? We have a map for BTC ATM here https://coinatmradar.com/
Try to check it and maybe there's a Bitcoin ATM near your area.

Optional: If it is possible to buy BTC with a bank, that is also a good option because if you buy BTC from an untrustworthy BTC seller in your area, I believe you can request a dispute and reverse the transaction if the seller scams.

[Tribalchief]

~snip

Rather going to your local market to buy the bitcoin, you can just consider doing so from a reputable exchange, there are lots of reputable exchanges where you can make use of their P2P services or even buy with your bank card, depending on the country you’re from and how the regulations there apply to Bitcoin purchase and trading. But if your country supports bitcoin then surely you can easily buy bitcoin with your bank card through a reputable exchange. I believe that would be a lot more convenient and more secure than going to your local market to do so.

I was wondering what he meant by local market until I read through your reply above. Personally, I am not a fan of local market/physical trading. It's quite risky if you ask me. In my country, making crypto payment to banks can be very difficult because if they happen to find out, your account might get frozen. But we've managed to learn ways to avoid such problems, so I believe that whatever laws that's on ground against Bitcoin in @Report's country, there should be a way out, or rather an alternative. A simple use of p2p on exchanges from the comfort his home is for his own safety.

[Gurujebs]

Some people may consider it to be harsh, but i think it is just the truth and sometimes people find the truth bitter or harsh. To accumulate BTC, one must have a source of income or a certain skill they can offer to people and get paid in BTC. It is not as simple as saying you want to accumulate BTC, do you have the wherewithal to do so?

The truth is bitter because that shit hit differently. Everybody want buy and hold Bitcoin but not everyone has the means to do so. There is no way you can hold Bitcoin if you don't have a source of income and even if you do have a source of income and you buy, if your problem is bigger than your source of income, you will sell it when there is need for money.

There are many challenges been a Bitcoin holder, you may even have the means to buy it and not having the problem that will result to selling it but you might not be a diamond hand, a small market correction can trigger you to selling it.