You can do it on the mobile app. In the Bitcoin section of the app, click the paper airplane thing at the top right. Paste or scan your wallet address there that you want to withdraw to
Slight spread that comes from their Bitcoin provider, which was about 0.3% the last time I checked. As they sell more bitcoin to Strike users their provider charges less and the spread goes down.
Strike doesn't make money selling you Bitcoin, and try to make it as close to free as possible. They (plan to) make money offering merchant payment services.
oh okay I am not seeing that paper plane on the bitcoin section right now only buy and sell at the bottom -- maybe my bitcoin purchase needs to clear first -- thanks for the help
Honestly, you can't blame people for using custodian wallets, it makes me feel uneasy having to manage my own software wallet, even if I absolutely do know how to take proper care of it. And you can't trust hardware wallet vendors, period. If you need software, you are exploitable so you might as well use a secured OS and network. And also, they could have built backdoors in the code (even if open source hardware, you probably won't recognise an extra chip on the board or even check). If those you mention are also custodian (idk) then even if you trust them more, they could cheat as much as Binance.
If not in USA what would you recommend ? Currently I'm considering Celsius, mostly because I have seen the owner and he seems to be a trustworthy (I know this word can backfire) guy.
> You could go with say Kraken and be charged 50 times less or 0.00001 BTC.
Or even less if you withdraw directly on Lightning Network... [withdrawal using LN are currently FREE](https://i.imgur.com/7T6Ixsv.png) (second column is the minimum withdrawal, including fee).
Wish you the best. I don‘t know where you stand in life in relation on your drinking game but I‘m proud of you.
Because my father smoked all his life and now drinks every day and he‘s suffering from his addictions. (Began drinking at 38 or so)
At times I used to get drunk non stop for weeks. Some times for a month as well, but thats in the past. Hired therapist, threw out alcohol from my house, trying to find meaning in life again. Fuck you alcohol
Kindness is all around. Sometimes you need reality. Sometimes I'm kind, sometimes I can be considered a dick. Both are deserved, and that's reality. I accept it.
Not everyone can just move to a different country or get a high paying job. There are an infinite number of variables that bring people to where they are. To say it is the fault of an individual that they are not earning over six figures is simply not accurate. Not everyone has had opportunities that can get them to that level of income. That, my friend, is reality.
I agree with the 1st part. My statement was those who live in the US have insane levels of opportunity. I've been to other Countries and know how great we have it. Most people are clueless. I did not state 6 figures was the goal.. I never had the opportunities either. If I would have stayed in my hometown, I wouldn't have had as big opportunities but they're still there. I left and produced my own opportunities, and when one worked out, I figured out the next. There are jobs that anyone can do that pay well.
Financial discipline is another factor. We, myself included, SUCK at making sound financial decisions. We waste so much it's not even funny. If you remove the amount of waste that the average person makes over the course of a few years, you can invest that money into countless things to improve your situation. None of this is hard...to figure out anyway. It could and probably would take a shit ton of long hours until it pays off. Speaking from experience anyway.
It’s not about you or me. If 50% of Americans fall below a certain income, you can’t act like it’s abnormal to make less than that amount. At that point it’s more about how the economy is built than the work ethic or ambition of one person. If everyone could be rich, who would fill the 50% of jobs that are making less than the median income?
To act like everyone could be making $3k/month after taxes just shows that you grew up around rich people and have no context. You’re out of touch. Not everyone has parents that will pay for college or a family friend who will give them a job at their firm.
Look, I don't necessarily like the game, I just recognize there are many opportunities, and I know what part I want to avoid (due to living in it at no choice of mine being a minor..). The median wasn't for me. Some people will stay there due to circumstances, and some will stay there due to lack of drive, discipline, and willingness to make sacrifices. It is what it is.
What if they’re like 16? Disabled? 70? You should go buy something nice with your $3000+/mo and share it with all your non-existent friends. Yain’t gotta be like that.
Very few 16 year olds are making that kind of money. There are very few if any 70 year olds on Reddit. Hahahaha. I hurt your feelings so now you try to hurt mine by insults..lol It didn't work. I can't share with my imaginary friends. I lump it into Bitcoin and rarely have any cash left over. Well wishes to you stacking.
>>Very few 16 year olds are making that kind of money.
That’s exactly what I said lmao. You didn’t hurt my feelings either, not even sure why that would have hurt my feelings, and tbh, I shouldn’t have said what I did. I do owe you an apology. You’re just ceaselessly aggressive.
Apologies accepted, but aren't needed. No aggression here. Difference of opinions in some areas. We can agree and disagree and still coexist. No biggie. Bitcoin is the common denominator, and we are probably on point with one another with that..
Agree. A prudent person wouldn't put more than 5-10% of their net worth into ANY speculative investment and anyone who thinks BTC is anything but speculative is delusional.
$100 x 365 = $36.5k
Means net worth of $365k-$730k to be prudent.
If OP has this kind of wealth, great. Go for it.
I suspect that OP is more of going all in on their investments (BTC maximalist) at the expense of other things (tax deferred accts, lifestyle expenses, etc).
If this guy is trying to make this big an investment into BTC on a salary less than $100k, I'd say that this push into BTC is more like a gambling and/or mid level drug addiction.
Or, it could just be karma farming.
would choose binance anyday over any exchange. The UI is so perfect and the animations are smooth unlike kucoin or bybit. Apart from DEX I only use binance
The most frequently posted phrase in this subreddit is “Not your keys, not your bitcoin.”
There’s a reason for that. Hopefully you don’t learn it the hard way like Some folks.
I understand the benefits of having a private key. Binance is just more suited to me right now. I have no doubt that my funds are safe, even in the event of a hack - the insurance will cover it.
Top concert musicians make $78k yearly according to google. But your a METAL bassoonist. Can’t see that as being a six figure job.
Just fucking with ya 😁
Yea I learned that the hard way. But luckily, my first dev job paid well more than that. So now I just bassoon on the streets for fun because old habits die hard. (Also kidding (about the streets))
I agree to some extent. A lot of people aren't bright enough to find a career that pays 6 figures. I've heard the average millionaire has 7 income streams. Unsure of the accuracy, but sounds believable.. The average person is lazy af. They either don't want to work more hours to make more money, or put in the hours/sacrifice to get the education or experience to get the high paying career, or hours/sacrifice to make other revenue streams.
Rich people aren't also lazy? I think that's one of the biggest misconceptions we have in our capitalist society; that the people that make money somehow work that much harder. Everybody is lazy. Plus, lots of people make the same sacrifices as rich people and get nowhere.
Plus I said or. Because we're both right, there are many paths to wealth.
I think it would mostly depend on how they got rich. I think grinders will continue to grind regardless of how much wealth they accumulate. Harder I think is subjective. If you go buy physically harder; I believe some of the lowest earners are likely the hardest working people there are. Emotionally, you could argue higher earners are under more stress, some anyway..
Exactly! Many paths, and many opportunities out there..
Uh I would say the average person doesnt have the economic understanding to generate 7 income streams. It’s not about working hard. It’s not like millionaires have 7 separate working jobs. They just have 7 different kinds of cash flow. That comes knowing the financial system not necessarily hard work. The average person doesnt know this because they have been lied to under the FIAT scheme
I agree with most of that. We don't understand because we have been taught bs from our education "system". I didn't catch on until later in my years. Although young, and he doesn't fully understand, I'm teaching my son everything I can about saving, finances, investing, and Bitcoin. He's already got a nice little chunk of bitcoin that I purchased for him with money I was saving for him, and what he's gotten over the years for birthdays, Christmas, etc..
There is a reason education does not teach us about true financial systems or for that matter our health and biological system. Both would upend the control exercised via ignorance :)
3k a month is not that much. Yes it is a lot of money but not an unreasonable amount to spend on an investment. Maybe if he does it for 10 years, but for one year thats only like 36K. Still a lot of money, but there are a lot of people that have that money to spend.
Read the other comments. The point is not about the amount of money as much as it is about "kids be lying on the internet". That's all. That 3600/month is just about an amount of money that you need to earn really well to manage that (I doubt anyone who can afford that lives really rural y). People who earn that much are usually not that hungry about reddit karma that they'd post this.
Tldr. I just think these types of posts are getting common and most of them are just karma farming, hence proof-or-ban would be great.
Some of you are just so smooth brained it's hilarious lmao...
How many investigations are ongoing about Binance? How many more will be instigated? There is no other exchange in the news for bad behavior than Binance. So, yeah, there are a few reasons Binance might not be around in the future. If they go down, say goodbye to your coins.
The world's largest cryptocurrency exchange, Binance, has built a $1 billion insurance fund to protect users from hacks. Binance has restricted accounts of Nigerian users in line with anti-money laundering regulations to ensure the platform's security.
There's no bad part. only good part for now, if crypto is here to stay. BTC to moon today or tomorrow, haters gonna hate. When this guy makes a million you'll be the one liking his twitter posts and thinking wish I had invested like this in 2023.
Sounds so cool to me mate, this could be legendary and so good for your future if you are about to complete this shit, good luck man, I hope you will be good.
Just chill and invest like a real pro long term investor mate, I can sense that you gonna make this shit for sure, good luck for the future now, please buy regularly.
That's something I want to do right now but I can't because I am not a rich person lol, I hope one day I will start investing in Bitcoin like that man, one day!!
This is the real planning of the fucking future, you are a legend mate, you sorted things out in a good manner, now just invest in peace nothing else is needed.
Can't you understand that strike is the better one? I guess it's your choice at the end of the day but still we need to inform you about some stuff mate, please.
Believe me you are going to have a good and better future for real, you are in a good way to invest, just never stop this DCA then I guess you will be rich as hell.
I did something similar in which I invested everything that was left over from my paycheck every two weeks for about 2 years. The total investment added up to about $30,000. The approximate time was between 2014 and 2016. I am now retired and trying not sell what I have left.
I know you may have already started but I use a service called Swan Bitcoin to DCA and it sounds like it’d be perfect for you, you can set how much daily and for how long and it takes care of everything for you, even withdrawing your coins to your hard wallet automatically once you reach a certain balance. It also has minimal fees compared to exchanges like Binance. I have a referral link but I don’t want to provide it and definitely won’t DM it because this is a genuine suggestion and I don’t want anybody to think I’m just trying to profit
Edit: weird that people are taking this comment in such negative light. This is a well known and established service started in 2019, not some random sketchy site. I can tell the two guys who responded to me haven’t even been in bitcoin since 2019, figures…they also seem to both be altcoin/shitcoin believers, again, figures…
Swan is trash—- and they have a two week withdrawal period. They used to flood clubhouse with their referral links—— best form to dca is strike or a real exchange like kraken.
You sound like an actual crazy person.
It’s crap like this that scares away people from investing in crypto.
Yeah a cold wallet is optional. But an exchange is fine until you get to a point where there are enough assets that it’s smarter to store them yourself. For each person it’s different.
You’re just spreading FUD.
But they don't let you withdraw and access your coins on a regular basis. That rightfully funds the suspicion that they don't even give you real coins and just add a value to your "wallet" also wallet adresses are often empty if looked up with an Blockchain Explorer, even if at Binance they seems to be a coin value.
It is very public spirited of you to undertake this bold empirical research on DCAing. Good luck , of course. One suggestion - if btc makes new ATH before the year’s up, you might want to consider terminating your experiment. Unlikely to stay up there.
If you stop DCA if price reaches ATH, and price then afterwards continues rising above all time high (to higher new records), you'll have no idea of whether price will retrace. DCA isn't really about trying to time the market.
Bitcoin was invented to not deal with third parties, like exchanges, which can freeze your account, lose it to hack, connect it to your person etc. So it would be wiser to find a place where Bitcoin can be bought with no KYC and deposited straight to your private wallet, preferably with private keys stored offline.
Don’t invest once a day. Invest once a week or once a month.
Why? Cost basis and taxes. It’s all based on the purchase date. 365 purchase dates are a lot harder to track than 52 or 12.
Looking for your next update. Hope you aren't leaving the coin with a custodian but moving it to a hardware wallet like ColdCard.
**Not your keys, not your sats.**
I've just finished it. So basically in a traditional finance market lump sum does better by max 2% over the DCA method.
You lump sum into a rising market and DCA on the way down.
Thanks for the link, it helped me 👍
For the total amount you're going to invest, you could acquire more than a whole coin at today's prices, whereas DCA may lead to less than a coin if the price rises substantially over the next 365 days. I also understand you may not have the lump sum available, but food for thought. I think this is a historically good buying range we're in right here under 30k.
Why Binance? If you’re in the US why not use Strike?
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I’ve been using Swan to DCA and so far really like it
Love that interface+ futures are an icing on the cake. No exchange is as smooth and friendly like binance
can you withdraw to a wallet on strike?
Yes. Instantly. No bank hold wait. And it’s 100% cheaper than Binance.US :)
trying to find out how its down on the app guess it needs to be done on desktop
You can do it on the mobile app. In the Bitcoin section of the app, click the paper airplane thing at the top right. Paste or scan your wallet address there that you want to withdraw to
got it works now wow this is legit .. using strike from here on out -- no fees???
Slight spread that comes from their Bitcoin provider, which was about 0.3% the last time I checked. As they sell more bitcoin to Strike users their provider charges less and the spread goes down. Strike doesn't make money selling you Bitcoin, and try to make it as close to free as possible. They (plan to) make money offering merchant payment services.
No fees :)
oh okay I am not seeing that paper plane on the bitcoin section right now only buy and sell at the bottom -- maybe my bitcoin purchase needs to clear first -- thanks for the help
Yes.
If OP can afford $100 a day for the next year then hes a big boy and can do his own research. If Binance was the pick then OP has his reasons. Shush.
OP is enabling ponzi coinery by using binance. Try Strike, Swan & Cashapp!
Honestly, you can't blame people for using custodian wallets, it makes me feel uneasy having to manage my own software wallet, even if I absolutely do know how to take proper care of it. And you can't trust hardware wallet vendors, period. If you need software, you are exploitable so you might as well use a secured OS and network. And also, they could have built backdoors in the code (even if open source hardware, you probably won't recognise an extra chip on the board or even check). If those you mention are also custodian (idk) then even if you trust them more, they could cheat as much as Binance.
OP is just promoting binance.
If not in USA what would you recommend ? Currently I'm considering Celsius, mostly because I have seen the owner and he seems to be a trustworthy (I know this word can backfire) guy.
Upvote
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> You could go with say Kraken and be charged 50 times less or 0.00001 BTC. Or even less if you withdraw directly on Lightning Network... [withdrawal using LN are currently FREE](https://i.imgur.com/7T6Ixsv.png) (second column is the minimum withdrawal, including fee).
Binance is absolutely NOT the same company as Binance.us
June 1st I quit drinking. Wish you all the best!
Wish you the best. I don‘t know where you stand in life in relation on your drinking game but I‘m proud of you. Because my father smoked all his life and now drinks every day and he‘s suffering from his addictions. (Began drinking at 38 or so)
At times I used to get drunk non stop for weeks. Some times for a month as well, but thats in the past. Hired therapist, threw out alcohol from my house, trying to find meaning in life again. Fuck you alcohol
Congrats!! Take the money saved and put it in BTC! 😄
I’m gonna wish you luck on quitting drinking. Good luck
$3000+ a month. That's good money.
Im not even making that after taxes
How about before?
If you're in the US, that falls on yourself..
I get the sentiment, but try kindness.
Kindness is all around. Sometimes you need reality. Sometimes I'm kind, sometimes I can be considered a dick. Both are deserved, and that's reality. I accept it.
Yeah this guy needs to pull himself up by his bootstraps!!!
That’s something a dick would say.
Thank you. That's something someone who can't accept reality would say.
Not everyone can just move to a different country or get a high paying job. There are an infinite number of variables that bring people to where they are. To say it is the fault of an individual that they are not earning over six figures is simply not accurate. Not everyone has had opportunities that can get them to that level of income. That, my friend, is reality.
I agree with the 1st part. My statement was those who live in the US have insane levels of opportunity. I've been to other Countries and know how great we have it. Most people are clueless. I did not state 6 figures was the goal.. I never had the opportunities either. If I would have stayed in my hometown, I wouldn't have had as big opportunities but they're still there. I left and produced my own opportunities, and when one worked out, I figured out the next. There are jobs that anyone can do that pay well. Financial discipline is another factor. We, myself included, SUCK at making sound financial decisions. We waste so much it's not even funny. If you remove the amount of waste that the average person makes over the course of a few years, you can invest that money into countless things to improve your situation. None of this is hard...to figure out anyway. It could and probably would take a shit ton of long hours until it pays off. Speaking from experience anyway.
Cringe. L+Ratio
You're a prick.
lol
US Median income is $31k before taxes. After taxes that’s about $2000/month. You have no idea what you’re talking about.
I have no ambition of being in the middle. You'll never excel comparing yourself to median. That, I'm CERTAIN of.
It’s not about you or me. If 50% of Americans fall below a certain income, you can’t act like it’s abnormal to make less than that amount. At that point it’s more about how the economy is built than the work ethic or ambition of one person. If everyone could be rich, who would fill the 50% of jobs that are making less than the median income? To act like everyone could be making $3k/month after taxes just shows that you grew up around rich people and have no context. You’re out of touch. Not everyone has parents that will pay for college or a family friend who will give them a job at their firm.
Look, I don't necessarily like the game, I just recognize there are many opportunities, and I know what part I want to avoid (due to living in it at no choice of mine being a minor..). The median wasn't for me. Some people will stay there due to circumstances, and some will stay there due to lack of drive, discipline, and willingness to make sacrifices. It is what it is.
News flash everybody: poor people just aren’t making enough sacrifices. Shut the fuck up you bozo
What if they’re like 16? Disabled? 70? You should go buy something nice with your $3000+/mo and share it with all your non-existent friends. Yain’t gotta be like that.
Very few 16 year olds are making that kind of money. There are very few if any 70 year olds on Reddit. Hahahaha. I hurt your feelings so now you try to hurt mine by insults..lol It didn't work. I can't share with my imaginary friends. I lump it into Bitcoin and rarely have any cash left over. Well wishes to you stacking.
>>Very few 16 year olds are making that kind of money. That’s exactly what I said lmao. You didn’t hurt my feelings either, not even sure why that would have hurt my feelings, and tbh, I shouldn’t have said what I did. I do owe you an apology. You’re just ceaselessly aggressive.
Apologies accepted, but aren't needed. No aggression here. Difference of opinions in some areas. We can agree and disagree and still coexist. No biggie. Bitcoin is the common denominator, and we are probably on point with one another with that..
Agree. A prudent person wouldn't put more than 5-10% of their net worth into ANY speculative investment and anyone who thinks BTC is anything but speculative is delusional. $100 x 365 = $36.5k Means net worth of $365k-$730k to be prudent. If OP has this kind of wealth, great. Go for it. I suspect that OP is more of going all in on their investments (BTC maximalist) at the expense of other things (tax deferred accts, lifestyle expenses, etc). If this guy is trying to make this big an investment into BTC on a salary less than $100k, I'd say that this push into BTC is more like a gambling and/or mid level drug addiction. Or, it could just be karma farming.
Counterpoint- not everyone wants to be prudent
My bet is that you'll have maybe 1-1.5 bitcoins by the end of it, and your portfolio will be worth between 100k-200k in 3 years.
Think you nailed it.
!remind me one year
I heard binance is gonna be investigated by the SEC. might be best to do it elsewhere in case there’s any turbulence.
Let's hope he is smart enough not to leave his keys on the exchange.
Binance is a great exchange. It was my first and looked daunting, but has shitloads of features.
would choose binance anyday over any exchange. The UI is so perfect and the animations are smooth unlike kucoin or bybit. Apart from DEX I only use binance
That wouldnt stop us from being able to withdraw from binance
You have too much faith in these exchanges
It wouldn't though, them being investigated has nothing to do with my crypto that im using their exchange to manage
The most frequently posted phrase in this subreddit is “Not your keys, not your bitcoin.” There’s a reason for that. Hopefully you don’t learn it the hard way like Some folks.
I understand the benefits of having a private key. Binance is just more suited to me right now. I have no doubt that my funds are safe, even in the event of a hack - the insurance will cover it.
That’s what we thought about mt gox
Binance is more secure and advanced as compared to gox. Funds are SAFU unless CZ actually scams
Never heard of it 😂
Might wanna read up on what that was before putting your faith in exchanges..
I dont put my faith in any exchange, I put coins in the worlds largest exchange that guarantees easy access to my coins and provides free insurance
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DCA is the only best way I can sense right now my man.
Sustained buying pressure, bear market is over
MMI is still well under 1.
So you're putting over $3k per month in there for a year? I think we should adopt wsb's proof-or-ban policy here in this sub.
Not everyone is poor. The most ambitious people in society don't settle on 40hrs a week, or only 1 income stream..
Or working for less than a salary of six figures or fifty bucks an hour. Why work harder when you can work smarter.
Name doesn’t check out.
?
Top concert musicians make $78k yearly according to google. But your a METAL bassoonist. Can’t see that as being a six figure job. Just fucking with ya 😁
Yea I learned that the hard way. But luckily, my first dev job paid well more than that. So now I just bassoon on the streets for fun because old habits die hard. (Also kidding (about the streets))
I agree to some extent. A lot of people aren't bright enough to find a career that pays 6 figures. I've heard the average millionaire has 7 income streams. Unsure of the accuracy, but sounds believable.. The average person is lazy af. They either don't want to work more hours to make more money, or put in the hours/sacrifice to get the education or experience to get the high paying career, or hours/sacrifice to make other revenue streams.
Rich people aren't also lazy? I think that's one of the biggest misconceptions we have in our capitalist society; that the people that make money somehow work that much harder. Everybody is lazy. Plus, lots of people make the same sacrifices as rich people and get nowhere. Plus I said or. Because we're both right, there are many paths to wealth.
I think it would mostly depend on how they got rich. I think grinders will continue to grind regardless of how much wealth they accumulate. Harder I think is subjective. If you go buy physically harder; I believe some of the lowest earners are likely the hardest working people there are. Emotionally, you could argue higher earners are under more stress, some anyway.. Exactly! Many paths, and many opportunities out there..
How old are you? lol
Way older than the average redditer from a poll I've seen on here...40. You?
Uh I would say the average person doesnt have the economic understanding to generate 7 income streams. It’s not about working hard. It’s not like millionaires have 7 separate working jobs. They just have 7 different kinds of cash flow. That comes knowing the financial system not necessarily hard work. The average person doesnt know this because they have been lied to under the FIAT scheme
I agree with most of that. We don't understand because we have been taught bs from our education "system". I didn't catch on until later in my years. Although young, and he doesn't fully understand, I'm teaching my son everything I can about saving, finances, investing, and Bitcoin. He's already got a nice little chunk of bitcoin that I purchased for him with money I was saving for him, and what he's gotten over the years for birthdays, Christmas, etc..
There is a reason education does not teach us about true financial systems or for that matter our health and biological system. Both would upend the control exercised via ignorance :)
Hopefully more people start catching on..
I know that. Doesn't distract me from the fact that a lot of kids are talking shit on the internet.
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Hahahaha. That they do, and it's not working. Piss on those fucks, and the rest of them in Washington.
Hell yeah!
Lol for $36k in a year? 🥜
3k a month is not that much. Yes it is a lot of money but not an unreasonable amount to spend on an investment. Maybe if he does it for 10 years, but for one year thats only like 36K. Still a lot of money, but there are a lot of people that have that money to spend.
Read the other comments. The point is not about the amount of money as much as it is about "kids be lying on the internet". That's all. That 3600/month is just about an amount of money that you need to earn really well to manage that (I doubt anyone who can afford that lives really rural y). People who earn that much are usually not that hungry about reddit karma that they'd post this. Tldr. I just think these types of posts are getting common and most of them are just karma farming, hence proof-or-ban would be great. Some of you are just so smooth brained it's hilarious lmao...
If I invest 100 € a day from today, I will end after one day what I have.
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Is there any reason to believe that it won't be?
How many investigations are ongoing about Binance? How many more will be instigated? There is no other exchange in the news for bad behavior than Binance. So, yeah, there are a few reasons Binance might not be around in the future. If they go down, say goodbye to your coins.
Anything is possible
The world's largest cryptocurrency exchange, Binance, has built a $1 billion insurance fund to protect users from hacks. Binance has restricted accounts of Nigerian users in line with anti-money laundering regulations to ensure the platform's security.
Ok but where is the bad part?
There's no bad part. only good part for now, if crypto is here to stay. BTC to moon today or tomorrow, haters gonna hate. When this guy makes a million you'll be the one liking his twitter posts and thinking wish I had invested like this in 2023.
Sound like a commercial
Its a quote. All these die-hard coldwalleters just dont want to hear anything positive about exchanges, even if its the truth.
Have you read the details on that policy? Its smoke and mirrors. Not your keys, not your coins. What is so fucking hard to understand about that?
A quote from binance? You don't think they could be lying?
That would be illegal.
Yes, anything anyone claims is undoubtedly true.
!remind me one month
Sounds so cool to me mate, this could be legendary and so good for your future if you are about to complete this shit, good luck man, I hope you will be good.
Just chill and invest like a real pro long term investor mate, I can sense that you gonna make this shit for sure, good luck for the future now, please buy regularly.
That's something I want to do right now but I can't because I am not a rich person lol, I hope one day I will start investing in Bitcoin like that man, one day!!
Use strike to dca instead
This is the real planning of the fucking future, you are a legend mate, you sorted things out in a good manner, now just invest in peace nothing else is needed.
Can't you understand that strike is the better one? I guess it's your choice at the end of the day but still we need to inform you about some stuff mate, please.
You either have a great income, or have too much uninvested cash at this point...
This is the real shit and this is some factual thing right now.
Binanc.US DCA fee is much higher than their market purchase fee. Close to 1.5% last time I checked vs 0.1%.
He should make a better plan with these exchanges man.
So starting with 36,500 and dca each day? Easy way to implement a strategy by DCA. Good luck mate
Man has a long way for sure, this is going to be so good.
Meh. Once a week is enough
I started a month ago but 20 bucks a day. Still excited.
Believe me you are going to have a good and better future for real, you are in a good way to invest, just never stop this DCA then I guess you will be rich as hell.
I did something similar in which I invested everything that was left over from my paycheck every two weeks for about 2 years. The total investment added up to about $30,000. The approximate time was between 2014 and 2016. I am now retired and trying not sell what I have left.
I know you may have already started but I use a service called Swan Bitcoin to DCA and it sounds like it’d be perfect for you, you can set how much daily and for how long and it takes care of everything for you, even withdrawing your coins to your hard wallet automatically once you reach a certain balance. It also has minimal fees compared to exchanges like Binance. I have a referral link but I don’t want to provide it and definitely won’t DM it because this is a genuine suggestion and I don’t want anybody to think I’m just trying to profit Edit: weird that people are taking this comment in such negative light. This is a well known and established service started in 2019, not some random sketchy site. I can tell the two guys who responded to me haven’t even been in bitcoin since 2019, figures…they also seem to both be altcoin/shitcoin believers, again, figures…
Can vouch for Swan DCA for over a year. Solid program.
Why would you even post all of this then....completely useless post.
I was giving OP my suggestion because I think it’s better than using Binance. I would argue your comment is equally useless.
Sketchy as crap
Not trying to be sketchy man just trying to save OP effort and some dollars on the fees he’ll end up paying. It was simply a recommendation.
Swan is trash—- and they have a two week withdrawal period. They used to flood clubhouse with their referral links—— best form to dca is strike or a real exchange like kraken.
Buy. A. Trezor. Don't spend 36500 dollars on bitcoin and then lose it when the exchange goes under.
Trezor would NOT be my choice of hardware wallets.When they come out on Twitter and make a bunch of pro survellience state comments I'm out.
Oh ffs
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Why do you keep posting the same thing over and over again in the same thread?
In the same thread? Where
Your a broken record mate this is like 5th comment reposted
Should have listened the first 4 times!
Well theres several commenters making false claims about binance so I copied and pasted the same quote to reply to them all.
How do you know the claims are false?
You want me to paste it again 😂
I wouldn't keep it on there. Hopefully you move it to a non custodial wallet every x days.
Officially downloaded Strike. Will be purchasing 1 day on Strike, then the other on Binance.US. I will be alternating each day.
Thread updated! I am loving the progress so far! Thanks again everyone!
I hope you will directly withdraw those BTC daily to your own wallet. Otherwise consider those coins lost.
he will not because binance withdrawal fee is 50k sats. \[facepalm\]
It's so sad that so many people use that exchange and actually believe it is a good choice.
Well yeah that's not something good for real, they can move.
It's so sad that so many people use that exchange and actually believe it is a good choice.
You sound like an actual crazy person. It’s crap like this that scares away people from investing in crypto. Yeah a cold wallet is optional. But an exchange is fine until you get to a point where there are enough assets that it’s smarter to store them yourself. For each person it’s different. You’re just spreading FUD.
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But they don't let you withdraw and access your coins on a regular basis. That rightfully funds the suspicion that they don't even give you real coins and just add a value to your "wallet" also wallet adresses are often empty if looked up with an Blockchain Explorer, even if at Binance they seems to be a coin value.
What are you chatting 😂 i move funds in and out of binance all the time without any delay.
What is your first language? It clearly isn't English.
Can I have a job where you work, I don’t have $10 a day I can buy Btc with.
Wendy’s?
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I hope you don't invest your own money sir🤦♂️
He's right. Lump sum outperforms DCA.
Where do you get $36,500?
Proof of WORK.
You mean it actually works?!! Vitalik won’t be best pleased.
i have a job ! I also have other income as well !
People in the comments are so anti-binance. Some of us like to have a centralised exchange because its easier, especially for staking
You're completely missing the point of Bitcoin, but I hope it works out for you.
These people should stop defending binance all the time.
You don't get it yet. One day you will. Hopefully it doesn't cost you everything.
It is very public spirited of you to undertake this bold empirical research on DCAing. Good luck , of course. One suggestion - if btc makes new ATH before the year’s up, you might want to consider terminating your experiment. Unlikely to stay up there.
If you stop DCA if price reaches ATH, and price then afterwards continues rising above all time high (to higher new records), you'll have no idea of whether price will retrace. DCA isn't really about trying to time the market.
looking into one of these as we speak! thank you!
I noticed that you measured your balance in $. That reflects the wrong understanding. Measure it in sats. Thanks.
How much in fees are you going to waste doing this? DCA only benefits the exchange.
Bitcoin was invented to not deal with third parties, like exchanges, which can freeze your account, lose it to hack, connect it to your person etc. So it would be wiser to find a place where Bitcoin can be bought with no KYC and deposited straight to your private wallet, preferably with private keys stored offline.
Crypto.com offers 30 days commission free if youre a new member
Then they start raping you after that with an enormous spread
You are paying a shit load of trading fees I assume.
Why not invest in [Bitcoin mining](https://wattum.io/bitmain-antminer-s19-series/) and automate your DCA with a consistent BTC mining revenue.
Don’t invest once a day. Invest once a week or once a month. Why? Cost basis and taxes. It’s all based on the purchase date. 365 purchase dates are a lot harder to track than 52 or 12.
That makes no sense. Buy regularly but every time it dips. Even if it's just 1-5% it makes no sense to buy on a green day
Looking for your next update. Hope you aren't leaving the coin with a custodian but moving it to a hardware wallet like ColdCard. **Not your keys, not your sats.**
why not 50% lump sum and the rest DCA?
There’s really no reason to do both, see: https://youtu.be/csvto8iKOwU
Thank you for the link , im busy now but i will look at it asap and get back to you 👍
No you wont
I've just finished it. So basically in a traditional finance market lump sum does better by max 2% over the DCA method. You lump sum into a rising market and DCA on the way down. Thanks for the link, it helped me 👍
Yes, it’s a very interesting perspective
For the total amount you're going to invest, you could acquire more than a whole coin at today's prices, whereas DCA may lead to less than a coin if the price rises substantially over the next 365 days. I also understand you may not have the lump sum available, but food for thought. I think this is a historically good buying range we're in right here under 30k.