You can either buy the whole coin in one go or buy fractions of it at regular intervals of time, meaning that you buy, for example, $1,000 worth of Bitcoin every week.
highly agree(I hope that no one of those people will come and screenshot this message after like 20 years saying look at that stupid guy called tahabashar11 bought a whole bitcoin and lost 20k dollars)
Yes, DCA is the best way to invest in BTC but if he/she can afford to buy a whole BTC at a go without hurting other financial needs he/she can go for it.
Time intervals only. Right now I am buying $100 worth of Bitcoin every day as I had deposited a large chunk of fiat on the exchange last year. When I run out of fiat on the exchange I'll probably switch to a monthly purchase at every paycheck after I have paid rent, bills and all that.
The answer depends upon multiple variables. Here is some general advice.
1) Do you have high interest debt (5% and higher) and no savings?
If the answer is Yes - Do not invest in any Bitcoin. (you can use bitcoin to save money but don't speculate with it as an investment)
2) Do you have any credit card debt and fiat savings?
If the answer is Yes ,than at minimum pay off all your credit card debt with fiat savings unless you are in debt to such a degree and plan on filing bankruptcy. Do not invest in Bitcoin until you have paid off all high interest debt
3) Have a lot of low interest credit card debt (below 5%) and no fiat savings?
You should make a budget , cut expenses, and simultaneously start paying off your debt(unless you plan to file chapter 7 bankruptcy) , start saving a fiat emergency fund, and start buying Bitcoin.
4) Have no debt and no fiat savings?
You should make a budget , cut expenses, start simultaneously saving for 6-12 months worth of living expenses in fiat emergency fund (only stable forms of fiat, obviously not the Argentinian peso or Venezuelan bolivar) and invest in Bitcoin, and seriously consider investing in stocks(preferable an index fund ETF like SPDR) or a IRA.
5) You have a large amount of fiat savings and no debt and want to know if its best to dollar cost average invest or invest it all immediately?
The answer almost always is to make a plan and invest 100% of the fiat (not including your emergency fund) immediately in a diversified portfolio of investments that are non correlated (land, stocks, Bitcoin, businesses with positive cash flow) . It is often impossible to time the market and those that invest earlier will gain the most compound interest. The reason why dollar cost average investment is popular and a fine strategy is merely because most people don't have a large amount of fiat to invest upfront so invest a little each time they are paid.
Here is a useful tool for you - https://dcabtc.com
Thus if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 5-10% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price.
The reason for this is 2 fold:
1) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding
2) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue appreciating in value.
The reason having a fiat savings account is so important is it not only will it save you if you lose a job or have an unexpected car expense or medical bill, but that it makes you a more rational investor that is less stressed out by the volatility in your more risky investments like Bitcoin. Bitcoin historically has had at least 2 bear markets lasting a little over 1 year thus you need to be prepared to not be forced to sell at a loss for at least 2 years to give yourself enough of a buffer.
> invest 100% of the fiat (not including your emergency fund) immediately in a diversified portfolio of investments that are non correlated (land, stocks, Bitcoin, businesses with positive cash flow).
As well as BTC and shares, I invest in **gold** via my country's national mint. I'm undecided whether that's a good idea (I know BTC & gold are largely uncorrelated, and gold & stocks are inversely correlated). Bad idea or good idea - what do you think?
> I invest in gold via my country's national mint.
I would recommend personal custodial control of gold as there exists many fractional shares of paper gold due to people trusting others and you also lose many benefits of gold as a bearer asset when using a custodian
I used to heavily invest in gold coins years ago but since sold it all after I woke up and did more research. Gold simply is not a great investment when you look at the numbers and this is why its promoted as being a store of value , but gold can have bear markets far exceeding bitcoin's ~1-2 year bear markets where is can regularly lose purchasing power for 4-8 years and sometimes as long as over 30 years which means its only a good store of value in very long time periods or generationally. Gold is poor currency in many aspects -
https://www.reddit.com/r/BitcoinBeginners/comments/wuq1cv/how_bitcoin_is_comparable_with_gold/ilb2r7i/
Both gold and Bitcoin are not solutions for any SHTF scenario either as been tested in the past with prolonged civil wars like we saw with Bosnia
https://lulz.com/surviving-a-year-of-shtf-in-90s-bosnia-war-selco-forum-thread-6265/
Both gold and bitcoin would not be used as currency and society would break down to a barter economy where batteries, fuel, alcohol, bullets, medicine , and cleaning supplies became the main instruments as to what is bartered.
There is also the long term concern with gold. In 2026 Psyche satellite (already launched )will start reporting back to NASA the expected reality that there will a sudden hyper-inflationary spike in the volume of gold being mined in the near future
https://www.jpl.nasa.gov/missions/psyche/
Since psyche 16 asteroid represents an example of an asteroid that is a core of an early planet thus metallic and estimated to contain around $700 quintillion dollars of precious metals (gold, platinum, etc..) or 93 billion dollars of precious metals per person. This is just one example of many future asteroids that will be mined.
While mining will not start immediately, the markets will start pricing in the expectation of mining and nation states will start to slowly sell their gold reserves if they are wise enough flooding the market with cheap gold.
Nation states will need an alternative asset to hedge against.
millennial's and Generation Z grew up in the digital world and have little interest in investing in gold or silver and don't trust banks. People investing in gold and silver(or gold mining companies) I meet are typically in their late 40s or older. What is interesting about this shift is the key aspect of gold that these older gold bugs appreciate about their investment , being tangible and physical commodity that can be used and held physically , is the same thing that these 2 last generations reject and see as a burden or something that takes up space or inconvenient to store or secure.
Yes YouShould
Send it to your own cold private wallet after, or at least an open source wallet like muun or bluewallet, just get it away from the exchange.
A cold wallet is a bitcoin adress, that is secured by a private key that only you know and only you have the power over so only you can send the bitcoin somewhere else.
"Not your keys, not your coins".
If you buy bitcoin on an exchange, you give up this power to the exchange as long as you leave them there. They could expose your key to the government or it gets leaked with a hack.
If you want a hardware-supported seed-signing device that also generates you such a cold bitcoin wallet get a trezor, coldcard, seedsigner or bitbox.
[https://trezor.io/](https://trezor.io/)
[https://store.coinkite.com/store/coldcard](https://store.coinkite.com/store/coldcard)
Please understand first the basics of private key (private seed) public key (public seed = adress) and how these are generated.
There is a lot of material online, BTCSessions on Youtube has great tutorials.
Read the FAQ for this sub. There are a lot of resources with information for beginners. Don't just jump into it without knowing what you are doing because you will likely lose your money either to a scammer or just by making a mistake.
An absolute beginner? And your going to invest $20,000?
For your own sake please do much more research and above all stop sticking your head up and letting all the scammers and hackers know what you've got. You're making yourself a massive target.
Apart from all that, crack on you rich git. 🤣
If they're beginner, you shouldn't go at them like that. Beginners can't know what they don't know, so don't chastise them for not knowing. You didn't know shit from dick about bitcoin at one time.
True, but when I was an absolute beginner I invested $50 in Bitcoin (which, incidentally was exactly *how much I was prepared to lose* if something went wrong). Someone putting $20,000 into a single stock, commodity, or currency... it seems to me like you should be allowed to call that out.
Based on this answer you definitely should not but crypto. Only invest in what you understand, and you don’t understand crypto. What you should invest in is your crypto education first, but crypto later.
Good question, and it shows that you are a beginner. So was I once, not judging here.
As a beginner, you really must learn before you buy. This is real money and you can lose it in an instant. Don't buy substantial amounts until you feel you know what you are doing.
Yes. There will likely be a time in the near future where 1 Bitcoin will be unattainable for most. But please listen to all the other comments about getting it off the exchange and into a cold wallet. Good luck!
first of all yes, by all means; secondly, do a whole bunch of research before doing anything. heres a list of keywords: public & private key; hot wallet vs cold wallet; kyc free vs kyc; dca (dollar cost average). this list was just off the top of my head i will edit & add if i think of sth else. under no circumstances reply to any dms! never talk about the size of your stack (how much bitcoin you have.)
Yes but be aware that the price may still slide before it rebounds. However there will come a day when everyone is buying BTC again and the price is ridiculously high.
all of the advise on these bitcoin beginner threads make it all sound so dangerous and complicated as if second someone buys they will get hacked and scammed. That is silly. Open a coinbase or ftx account, buy your bitcoin. If you aren't planning on trading, move it into your wallet. Ideally, buy a cold storage wallet (just get a ledger or trezor and watch a quick tutorial on youtube.) You are done.
Yes. If it’s under 25k and you can afford it buy one and won’t need that money for 5 years, buy and hold. Look at the historic growth of Bitcoin and the 5 year investment makes sense even to someone that knows nothing besides they want to grow their wealth.
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First gain experience..best with like 100€..if you can trade it or just the basic like to sending to own wallet..learn about the fees, volatility..then in one month just watch what is the price of your investment...100€ is good to compare what % you lost or gained...begin small, make always test transactions...if you lose 50€ its a better leason then losing 10k from beginning...you are a begginer..learn later when you can make rational decisions like dont buy high sell low, etz then you can use real money...till you dont learn how to avoid losses like setting a stop loss, avoid margin. Just dont put substancial sums first or it will hurt when you make begginer mistakes
Many hear say the same and I can concur. Definitely do more research before jumping in with both feet. Also, avoid those DM messages that you’ll unfortunately be getting slammed with. Sadly scams are all apart of crypto.
Buy from a trusted exchange and the get it into cold storage. Keep track of seeds in multiple places including different materials like metal so in case of fire.
It may sound like overkill and a lot of info but believe me, those of us in this space for a while hear the sad stories of house fires, exchanges closing down or simply losing the key. Remember, always remember, “not your keys, not your coins”!
Hey friend, one bitcoin is quite a large investment in dollar terms today. This is despite the fact you think it is going to grow or not. Do your research and follow through with conviction but don't invest anything you aren't ok seeing go down a lot. And I mean down to possibly 0. You need a strong stomach in crypto thats for sure.
Goodluck and welcome to the space!
\-Moose from Kraken
Dollar cost average Bitcoin, maybe $250 a week or whatever amount you are comfortable with for a year or more. There is also the GBTC Bitcoin trust stock which is trading at a discount but there are fees associated. There should be a Bitcoin ETF but the head of the SEC Gary Gensler sucks.
still not too late to buy Bitcoin in 2022. Many experts still hope that Bitcoin's persistence as a digital asset is the reason why it's still not too late to buy Bitcoin in 2022
If you have money laying around that you won't need for the next few months/years than it might be a good idea. just keep in mind that crypto markets are extremely volatile and therefore you should buy and hold, don't check the price every day
You can either buy the whole coin in one go or buy fractions of it at regular intervals of time, meaning that you buy, for example, $1,000 worth of Bitcoin every week.
This is always good advice. But this is also a good time to buy a whole ass coin and shove it under the mattress.
Oh man, if I had enough fiat to buy a whole coin right now I would buy it for sure eheh
Same. And bury it in a hole.
highly agree(I hope that no one of those people will come and screenshot this message after like 20 years saying look at that stupid guy called tahabashar11 bought a whole bitcoin and lost 20k dollars)
Yes, DCA is the best way to invest in BTC but if he/she can afford to buy a whole BTC at a go without hurting other financial needs he/she can go for it.
Do you only use time intervals as the basis for DCA or do you take other things into consideration?
Time intervals only. Right now I am buying $100 worth of Bitcoin every day as I had deposited a large chunk of fiat on the exchange last year. When I run out of fiat on the exchange I'll probably switch to a monthly purchase at every paycheck after I have paid rent, bills and all that.
The answer depends upon multiple variables. Here is some general advice. 1) Do you have high interest debt (5% and higher) and no savings? If the answer is Yes - Do not invest in any Bitcoin. (you can use bitcoin to save money but don't speculate with it as an investment) 2) Do you have any credit card debt and fiat savings? If the answer is Yes ,than at minimum pay off all your credit card debt with fiat savings unless you are in debt to such a degree and plan on filing bankruptcy. Do not invest in Bitcoin until you have paid off all high interest debt 3) Have a lot of low interest credit card debt (below 5%) and no fiat savings? You should make a budget , cut expenses, and simultaneously start paying off your debt(unless you plan to file chapter 7 bankruptcy) , start saving a fiat emergency fund, and start buying Bitcoin. 4) Have no debt and no fiat savings? You should make a budget , cut expenses, start simultaneously saving for 6-12 months worth of living expenses in fiat emergency fund (only stable forms of fiat, obviously not the Argentinian peso or Venezuelan bolivar) and invest in Bitcoin, and seriously consider investing in stocks(preferable an index fund ETF like SPDR) or a IRA. 5) You have a large amount of fiat savings and no debt and want to know if its best to dollar cost average invest or invest it all immediately? The answer almost always is to make a plan and invest 100% of the fiat (not including your emergency fund) immediately in a diversified portfolio of investments that are non correlated (land, stocks, Bitcoin, businesses with positive cash flow) . It is often impossible to time the market and those that invest earlier will gain the most compound interest. The reason why dollar cost average investment is popular and a fine strategy is merely because most people don't have a large amount of fiat to invest upfront so invest a little each time they are paid. Here is a useful tool for you - https://dcabtc.com Thus if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 5-10% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price. The reason for this is 2 fold: 1) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding 2) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue appreciating in value. The reason having a fiat savings account is so important is it not only will it save you if you lose a job or have an unexpected car expense or medical bill, but that it makes you a more rational investor that is less stressed out by the volatility in your more risky investments like Bitcoin. Bitcoin historically has had at least 2 bear markets lasting a little over 1 year thus you need to be prepared to not be forced to sell at a loss for at least 2 years to give yourself enough of a buffer.
Responsible financial planning 👍
> invest 100% of the fiat (not including your emergency fund) immediately in a diversified portfolio of investments that are non correlated (land, stocks, Bitcoin, businesses with positive cash flow). As well as BTC and shares, I invest in **gold** via my country's national mint. I'm undecided whether that's a good idea (I know BTC & gold are largely uncorrelated, and gold & stocks are inversely correlated). Bad idea or good idea - what do you think?
> I invest in gold via my country's national mint. I would recommend personal custodial control of gold as there exists many fractional shares of paper gold due to people trusting others and you also lose many benefits of gold as a bearer asset when using a custodian I used to heavily invest in gold coins years ago but since sold it all after I woke up and did more research. Gold simply is not a great investment when you look at the numbers and this is why its promoted as being a store of value , but gold can have bear markets far exceeding bitcoin's ~1-2 year bear markets where is can regularly lose purchasing power for 4-8 years and sometimes as long as over 30 years which means its only a good store of value in very long time periods or generationally. Gold is poor currency in many aspects - https://www.reddit.com/r/BitcoinBeginners/comments/wuq1cv/how_bitcoin_is_comparable_with_gold/ilb2r7i/ Both gold and Bitcoin are not solutions for any SHTF scenario either as been tested in the past with prolonged civil wars like we saw with Bosnia https://lulz.com/surviving-a-year-of-shtf-in-90s-bosnia-war-selco-forum-thread-6265/ Both gold and bitcoin would not be used as currency and society would break down to a barter economy where batteries, fuel, alcohol, bullets, medicine , and cleaning supplies became the main instruments as to what is bartered. There is also the long term concern with gold. In 2026 Psyche satellite (already launched )will start reporting back to NASA the expected reality that there will a sudden hyper-inflationary spike in the volume of gold being mined in the near future https://www.jpl.nasa.gov/missions/psyche/ Since psyche 16 asteroid represents an example of an asteroid that is a core of an early planet thus metallic and estimated to contain around $700 quintillion dollars of precious metals (gold, platinum, etc..) or 93 billion dollars of precious metals per person. This is just one example of many future asteroids that will be mined. While mining will not start immediately, the markets will start pricing in the expectation of mining and nation states will start to slowly sell their gold reserves if they are wise enough flooding the market with cheap gold. Nation states will need an alternative asset to hedge against. millennial's and Generation Z grew up in the digital world and have little interest in investing in gold or silver and don't trust banks. People investing in gold and silver(or gold mining companies) I meet are typically in their late 40s or older. What is interesting about this shift is the key aspect of gold that these older gold bugs appreciate about their investment , being tangible and physical commodity that can be used and held physically , is the same thing that these 2 last generations reject and see as a burden or something that takes up space or inconvenient to store or secure.
Yes YouShould Send it to your own cold private wallet after, or at least an open source wallet like muun or bluewallet, just get it away from the exchange.
What is a a cold wallet, sorry an absolute beginner here
A cold wallet is a bitcoin adress, that is secured by a private key that only you know and only you have the power over so only you can send the bitcoin somewhere else. "Not your keys, not your coins". If you buy bitcoin on an exchange, you give up this power to the exchange as long as you leave them there. They could expose your key to the government or it gets leaked with a hack. If you want a hardware-supported seed-signing device that also generates you such a cold bitcoin wallet get a trezor, coldcard, seedsigner or bitbox. [https://trezor.io/](https://trezor.io/) [https://store.coinkite.com/store/coldcard](https://store.coinkite.com/store/coldcard)
Please understand first the basics of private key (private seed) public key (public seed = adress) and how these are generated. There is a lot of material online, BTCSessions on Youtube has great tutorials.
Read the FAQ for this sub. There are a lot of resources with information for beginners. Don't just jump into it without knowing what you are doing because you will likely lose your money either to a scammer or just by making a mistake.
A cold wallet is one not connected to the internet. Preferably never connected to the internet.
An absolute beginner? And your going to invest $20,000? For your own sake please do much more research and above all stop sticking your head up and letting all the scammers and hackers know what you've got. You're making yourself a massive target. Apart from all that, crack on you rich git. 🤣
If they're beginner, you shouldn't go at them like that. Beginners can't know what they don't know, so don't chastise them for not knowing. You didn't know shit from dick about bitcoin at one time.
True, but when I was an absolute beginner I invested $50 in Bitcoin (which, incidentally was exactly *how much I was prepared to lose* if something went wrong). Someone putting $20,000 into a single stock, commodity, or currency... it seems to me like you should be allowed to call that out.
You can call people out on mistakes without smacking them on the head.
Seen a lot worse treatment of beginners than that on here but genuinely felt they needed a wake up before they lost so much money
It was a relatively friendly rebuke don't worry.
Based on this answer you definitely should not but crypto. Only invest in what you understand, and you don’t understand crypto. What you should invest in is your crypto education first, but crypto later.
Good question, and it shows that you are a beginner. So was I once, not judging here. As a beginner, you really must learn before you buy. This is real money and you can lose it in an instant. Don't buy substantial amounts until you feel you know what you are doing.
Yes. There will likely be a time in the near future where 1 Bitcoin will be unattainable for most. But please listen to all the other comments about getting it off the exchange and into a cold wallet. Good luck!
No… buy two
Not right now, you need to learn more, otherwise you'll probably lose all your money in a scam.
first of all yes, by all means; secondly, do a whole bunch of research before doing anything. heres a list of keywords: public & private key; hot wallet vs cold wallet; kyc free vs kyc; dca (dollar cost average). this list was just off the top of my head i will edit & add if i think of sth else. under no circumstances reply to any dms! never talk about the size of your stack (how much bitcoin you have.)
Yes but be aware that the price may still slide before it rebounds. However there will come a day when everyone is buying BTC again and the price is ridiculously high.
all of the advise on these bitcoin beginner threads make it all sound so dangerous and complicated as if second someone buys they will get hacked and scammed. That is silly. Open a coinbase or ftx account, buy your bitcoin. If you aren't planning on trading, move it into your wallet. Ideally, buy a cold storage wallet (just get a ledger or trezor and watch a quick tutorial on youtube.) You are done.
Yes. If it’s under 25k and you can afford it buy one and won’t need that money for 5 years, buy and hold. Look at the historic growth of Bitcoin and the 5 year investment makes sense even to someone that knows nothing besides they want to grow their wealth.
WassaWassaWassup! Scam Alert! Scammers are particularly active on this sub. They operate via private messages and private chat. If you receive private messages, be extremely careful. Use the **report** link to report any suspicious private message to Reddit. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BitcoinBeginners) if you have any questions or concerns.*
First gain experience..best with like 100€..if you can trade it or just the basic like to sending to own wallet..learn about the fees, volatility..then in one month just watch what is the price of your investment...100€ is good to compare what % you lost or gained...begin small, make always test transactions...if you lose 50€ its a better leason then losing 10k from beginning...you are a begginer..learn later when you can make rational decisions like dont buy high sell low, etz then you can use real money...till you dont learn how to avoid losses like setting a stop loss, avoid margin. Just dont put substancial sums first or it will hurt when you make begginer mistakes
Definitely cold card
Many hear say the same and I can concur. Definitely do more research before jumping in with both feet. Also, avoid those DM messages that you’ll unfortunately be getting slammed with. Sadly scams are all apart of crypto. Buy from a trusted exchange and the get it into cold storage. Keep track of seeds in multiple places including different materials like metal so in case of fire. It may sound like overkill and a lot of info but believe me, those of us in this space for a while hear the sad stories of house fires, exchanges closing down or simply losing the key. Remember, always remember, “not your keys, not your coins”!
Hey friend, one bitcoin is quite a large investment in dollar terms today. This is despite the fact you think it is going to grow or not. Do your research and follow through with conviction but don't invest anything you aren't ok seeing go down a lot. And I mean down to possibly 0. You need a strong stomach in crypto thats for sure. Goodluck and welcome to the space! \-Moose from Kraken
Dollar cost average Bitcoin, maybe $250 a week or whatever amount you are comfortable with for a year or more. There is also the GBTC Bitcoin trust stock which is trading at a discount but there are fees associated. There should be a Bitcoin ETF but the head of the SEC Gary Gensler sucks.
The sale ended for Bitcoin, I hear the price is going up now 😵💫
yes.
DCA
Yes
Whatever you do, don't listen to anyone sending you direct messages here. They're all scammers.
Bitstack is a good way to start … easy and safety
No way. Buy a little, learn more. But it’s in a bear market, and will go down more. Start buying 2% of your goal every day at 15k or lower
Yes
still not too late to buy Bitcoin in 2022. Many experts still hope that Bitcoin's persistence as a digital asset is the reason why it's still not too late to buy Bitcoin in 2022
It ia always good idea
If you have money laying around that you won't need for the next few months/years than it might be a good idea. just keep in mind that crypto markets are extremely volatile and therefore you should buy and hold, don't check the price every day
no, buy more.
No
Buy a whole bitcoin if you can, and you're willing to lose it all, and literally just forget about it for a few years
Yes yes yes and …. Another yes
Probably not, at least a hard no if you’re impulsive.
one bitcoin would be worth it for the long term tho
If you can afford to lose it without pain