Hi all,

Background

I was introduced to Bitcoin in 2011. I remember my roommates in college explaining this weird dark web currency. I didn't understand the allure then. I bought my first crypto through Robinhood around 2015 I believe? I bought a bit of BTC and ETH. I still didn't understand the technology, was not sold on its application long-term. I saw it as an opportunity to trade and make a quick buck. I went in and out of that trade fast. Around 2017-2018 I got a Coinbase account. I got some free crypto and did minor trading. I then discovered leveraged trading sites that allowed for short selling with leverage. This whole time, I knew about crypto and its function, but I did not believe in it. Ultimately I thought it was something that got pumped occasionally but had little or obscure value. I lost maybe $500-700 in the leveraged trading thing.

That's the background. I got back into it these past few months. I think the crypto community has come a tremendous length from where it was in 2011 2015 or 2018. I think as we saw chatGPT explode into the scene and see AI coming down the pipeline, things are becoming clearer to me. I researched a ton this month and have understood this on a whole deeper level and can finally see the whole ecosystem and how it comes together in the future and will live on long-term.

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Belief in BTC

I see BTC as the hegemon by consensus. The other cryptos do more cool stuff like ETH and all other smaller tokens. But BTC has consensus as the digital currency, it can continue to improve its security, it's decentralized, and it's finite. I don't see any other coin being able to overtake BTC in worldwide consensus in our lifetime. That is why in my mind BTC will always serve as the crypto "index" fund. As AI apps grow, and AI becomes more a part of our economy, I believe all digital transactions will be based on BTC. I believe BTC will continue to grow based on our digital WORLDWIDE economy just as the SP500 has consistently grown based on the US physical economy since 1900.

So now that we have established the background and the reason I believe in BTC long-term, let's move on to the next points: how to invest, how to store, best methods.

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Buy & Store

Trading is too hard. I think the best method to shield myself from market swings is DCA. I am planning on doing a DCA once a month. Is it better to do DCA once a week and just dump the funds to the buy account once a month instead?

My income is not high, and I plan to DCA only a few hundred dollars a month, but to just commit to being consistent the rest of my working life. Therefore, it's paramount to get the "best bang for my buck."

I have researched and seems like the Strike APP is a good place to source and buy my BTC being that they have no fees at any amount.

- Is that what you guys would suggest or is there a better place to source the BTC keeping in mind the least amount of fees possible?

For storing, I am planning on buying the Ledger hardware wallet.

- Does it matter to have the USB or Bluetooth Ledger wallet? Do you guys think it's necessary for multiple wallets? I plan to have this as a HODL wallet that does not get touched until I retire. There will only be deposits.

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Cautions

So a summary of my plan is:

1. Every month, deposit a portion of my income into Strike APP
2. Set up a recurring buy of BTC (either weekly or monthly)
3. Should I wait till I have a specific amount of BTC in my Strike APP before sending it to Ledger cold wallet or transfer it every time a purchase is made?
4. Store long-term in my Ledger wallet for the rest of my working years.

With that in mind, what are any cautionary things I should be aware of as a newbie to keep my ongoing investment of BTC stored in a Ledger cold wallet safe?