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Topic: Set a Bitcoin purchase reminder. (Read 445 times)

SuperBitMan (OP)

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Set a Bitcoin purchase reminder.

June 09, 2025, 08:58:24 AM

Sometimes because of too many activities or things to use money for we forget we need to accumulate Bitcoin for that week or month.
The reason why I'm bringing this up is because it has happened to me many times and I believe it has happened to some set of people too in this forum especially those who are using the DCA strategy to accumulate weekly or monthly.
For me how I was able to overcome it and remain consistent in my accumulation is setting a Google reminder so as soon as I receive my salary I get reminded that I need to buy Bitcoin, this has been so helpful to me in my Bitcoin accumulation journey.
The reason why some people are not consistent in their accumulation is because they sometimes forget to accumulate because of many issues going on in their life so setting a reminder is very important as an investor.

If this can't be effective enough for you then you can use automated transfer so that as soon as you receive your salary some percentage of it will be sent to your wallet exchange directly however this is only possible in countries that support it.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 09:30:03 AM

This has not happened to me before. If I want to buy bitcoin, that is what will be on my mind all the time until I buy it. So immediately I receive the money, I will buy bitcoin immediately or I can it anytime that I have planned before to buy it.

But this is also good. I do not know what you mean as Google reminder but I prefer to set an alarm on my phone which can remind me. I think this is enough for me to remember but for things that I can not remember, you know the alarm do not have what you write as description, so I will advice people to use their device reminder instead which can make them write what the reminder should remind them of. This is available on Android and iOS.

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Aanuoluwatofunmi

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 09:36:27 AM

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

Take it from this angle also, that what is of importance to you will not easily escaped your mind, because it will definitely be part of your priority list, that is why we have scale of preference and opportunity cost.

Also, if you think you're that busy to engage on doing other things and may not have enough time being online speculating and checking the candles, then you may as well place an order and set a limit to it, once the market gets there, it will automatically confirms your sell or buy while you're not even online, everything in crypto has been made simplified for our suitability.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 09:42:55 AM

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

-snip-

If this can't be effective enough for you then you can use automated transfer so that as soon as you receive your salary some percentage of it will be sent to your wallet exchange directly however this is only possible in countries that support it.

To mention a few apps that let you facilitate the process even more:

Strike: from my understanding (and I could be wrong), you need to deposit, and then... they would deduct from that over time (depending on your preferences).

Or with Kraken: https://www.kraken.com/features/dollar-cost-averaging
You could even do it with your card (it says other payment methods supported) so that they deduct the money automatically from the card.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 09:44:44 AM

A bitcoin purchase reminder wouldn't be bad for those that for one reason or another fail to remember they have a plan on hand for a bitcoin accumulation. But It's surprising to me tho that people could remember to settle all of their financial bills weekly or monthly as they surface after receiving their paycheck but wouldn't remember to maintain a steady bitcoin accumulation that they have already kick-started as a future investment.

Do people actually forget they have a bitcoin accumulation plan on ground or it's just about their paycheck not sufficient to cover their bills and leaving an extra funds for their constant bitcoin accumulation?

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 10:02:53 AM

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

Some people who do DCA dont have a set or regular time of purchase. Rather they tend to wait for the price to go down and that is when they take the opportunity to buy bitcoin. But as you said, if you are busy and doing something else then you might not be able to buy at proper time or check the market. I usually have notifications on from different platforms to alert me of bitcoins price. It helps without me needing to be glued to my screen.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 10:49:17 AM

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

For me how I was able to overcome it and remain consistent in my accumulation is setting a Google reminder so as soon as I receive my salary I get reminded that I need to buy Bitcoin,

Would the act of receiving your salary not be a reminder in itself to use a portion of it to but Bitcoin?

This has been my approach ever since I started with Bitcoin, not every week but certainly about twice
per month I would buy Bitcoin as soon as I got my weekly salary, sometimes I couldnt wait for funds
to land in order to buy so I never needed a reminder.

I have never used the automated transfer for buying Bitcoin, I would rather be in full control of how
much and how often I buy because it changed every week.

I can however understand that some people would need to use a reminder, maybe if they are not actively
watching the markets as often as others and that investing in Bitcoin is more sporadic and not a regular
activity or if there are financial pressures taking your attention.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 11:03:22 AM

Maybe yes maybe no, from my observation people usually not consistent in doing DCA because they have emergency funds, the money they set aside already used for something instead of investing.

If someone buy Bitcoin every month, notification is no longer needed.

Quote from: kotajikikox on June 09, 2025, 10:02:53 AM

Some people who do DCA dont have a set or regular time of purchase. Rather they tend to wait for the price to go down and that is when they take the opportunity to buy bitcoin.

That's not DCA, but buy the dip.

Real DCA doesn't care how much the Bitcoin price at the time they buy.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 11:10:38 AM

So many exchanges support automated or scheduled buying of bitcoin. You will not have to forget if you receive your salary through an exchange and if you also receive it as bitcoin. This is why bitcoiners who are paid in bitcoin are more consistent in DCA. Take for example the signature campaign participants, you could just submit your DCA wallet address as the campaign address. The money is paid directly to there and you can then withdraw the excess.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 11:13:09 AM

#10

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

The reason why some people are not consistent in their accumulation is because they sometimes forget to accumulate because of many issues going on in their life so setting a reminder is very important as an investor.

Commitment is what is very necessary for every investor to possess. If an investor who has set a reminder but lacks commitment gets the reminder to invest, they can always choose to ignore it because of the lack and absence of commitment.

Commitment to investing is what would prompt an investor to never miss an opportunity to invest some amount of money into their portfolio. Commitment is not just commitment to self but commitment to your future because you know that investment today has a very good chance of making the future tomorrow brighter.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 12:59:56 PM

#11

This sounds kind of crazy to me. Forgetting to buy Bitcoin? Haha. Do I need to think that buying it is mandatory for me? Buying it automatically? This is another of the more stupid methods. OP, don't make a religion out of investing. No normal person forgets something really important to them. If they forget, it is not a priority, or the person just needs medical attention.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 01:31:12 PM

#12

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

If this can't be effective enough for you then you can use automated transfer so that as soon as you receive your salary some percentage of it will be sent to your wallet exchange directly however this is only possible in countries that support it.

Dont do this, never bind your card to most of this exchanges is usually eats into your funds unnecessarily. For me I think it is very easy to actually remember that you want to accumulate bitcoin if youre DCAing either weekly or monthly base on your wages or salary. The only period I think you will be having problems with is when youre not DCAing but buying the dip at certain market prices and thats when I will say such prices might have triggered without once notice. But if it is DCA, I hardly forget, because it so important that once I get my funds I simply know part of it is for Bitcoin accumulation.

Quote from: kotajikikox on June 09, 2025, 10:02:53 AM

When you wait for the market actually go down before you buy then youre actually buying the dip but DCA are people buying at certain periods of time regardless of what the price of the market is. Buying the dip can sometimes be risky because you can simply miss some targets due to been busy, thats where people even setup limit orders on exchanges which is a bad idea to me because you might need to leave your crypto in such exchange

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 03:33:01 PM

#13

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

If you have to set an alarm to remind you to invest in Bitcoin, it means you are not ready to invest, or perhaps Bitcoin investment is not important because of other things you need to prioritize first. Investing in gambling is very easy; you don't have to struggle to meet Bitcoin investment because of other expenses you have at hand. You can just invest with the amount you can afford and use the DCA method to accumulate Bitcoin over time.

However, if it is still difficult for you, that means you need to find a way to increase your income, as sometimes low income can be a limitation for Bitcoin investment.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 05:40:42 PM

#14

Quote from: lovesmayfamilis on June 09, 2025, 12:59:56 PM

It's extremely laughable the way the alarm sound in my ear remind me back then in school when one don't want to study, one will feel that alarm will be a motivator and wake one during sleep, buying Bitcoin don't need alarm because just as many set alarm without been ready to study in school so is a person that is not ready because the alarm will even ring or rang without the person waking to study, continuous buying of Bitcoin is a thing of the mind, knowledge, experience and unwavering decision that persuade the investor at any given period provided what it takes to buy is available and even to increase the buying without seeking external Force before been motivated.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 05:48:55 PM

#15

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

We basically get our salary every month so setting a reminder on a specific date is not a bad plan. Because investing in Bitcoin according to our ability every month and saving them will be the best decision because in the future Bitcoin will be so expensive that it will not be possible for us to buy a good amount of Bitcoin then. So those who are slowly saving Bitcoin from now on are definitely much smarter because they know how much Bitcoin has potential for the future and saving Bitcoin now will increase their funds several times in the future which no other investment can give them such amount. so i support to set a reminder to invest on Bitcoin every month according to ability

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 07:08:56 PM

#16

I think Investing in Bitcoin does not require a reminder to be able to invest. No matter the day to day activities one must know their top and less priority. Setting google reminder each time you recieve salary sound lame to me because your salary alone is a reminder that will help you to accumulate or invest every week or month, depending on the time of salary expectation. the impression of setting a reminder doesn't sound nice to me. An investor should know when to invest or not and not by a reminder or something.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 07:22:34 PM

#17

Reinvesting in Bitcoin, through either dollar cost averaging method or any other methods requires discipline, and as such setting a reminder on your device to enable you remember when your salary might have arrived is literally not a bad idea, only if you will be dedicated. Because the truth of the fact here is that an individual who always procrastinate will still do so if he/she doesn't take action into buying and investing his desired amount into Bitcoin. Because one common strategy I always do that has been quite helpful to enable me always forget about reinvesting in Bitcoin is by placing the icon of your bank app together with your Bitcoin wallet, so that whenever you wishes to purchase anything via your bank app, you will always see your Bitcoin wallet next to it, which might create a reminder for you to invest.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 07:49:12 PM

#18

Quote from: kotajikikox on June 09, 2025, 10:02:53 AM

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

Waiting for the Bitcoin price to drop before buying is not a DCA strategy. DCA is buying consistently regardless of the price at a given time. Sometimes waiting for the price to drop before you purchase might not be appropriate since you might never know when the price has gone really low. Regarding setting reminders about buying Bitcoin, it's not a bad idea since one can be carried away due to several reasons. I have a monthly budget that I have judiciously followed for a long time. I don't think I would ever forget buying Bitcoin every month.

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 08:19:30 PM

#19

You have to set a goal for yourself, for example, you can say that you will invest 500 dollars every month. When your salary comes in, you should send that 500 dollars directly to a separate account and act as if that money does not exist and use the rest of your salary for your daily needs. Otherwise, at the end of the month, you will not have money in your pocket, you will definitely do something with that money and you will lose your money.

Buying bitcoins on a certain day of the month, like paying off credit card debt, is also a good idea. if you buy them on the same day every month, it will be harder to forget. after a few years you will have made a very good investment

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Re: Set a Bitcoin purchase reminder.

June 09, 2025, 08:54:59 PM

#20

Quote from: SuperBitMan on June 09, 2025, 08:58:24 AM

Setting up a ringing bell in reminder of our investment obligations on Dcaing maybe nice but I think we need more of disciplines and dedication so that we can always watch out on our expenses in order not to get engaged on expenditures that may absorb our funds if not, we may be stranded getting our plans including savings obstructed.
Remember may not really be the solution when we find sticking to our investment plans as a challenge but how to maintain that investment posture because sometimes we just intentionally skip to buy at the stipulated times due to additional expenses we must have been engaged with.

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