1$ per day crypto investment plan any good ? - page 13.

NeuroticFish

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Quote from: Maliceprime on March 17, 2022, 02:57:26 AM

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

It's clearly better than nothing. "Enough" really depends from person to person and from country to country.

Also be aware that you probably won't deposit each $ separately, won't buy BTC for each $ separately and the withdrawals to your own wallet are not cheap, hence you'll have to check all the fees involved and plan accordingly. For such small amounts the fees can be a big problem, especially if you are not super-careful.

TheNineClub

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Quote from: Maliceprime on March 17, 2022, 02:57:26 AM

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

It really depends in what you invest. And for how long do you plan on holding on to that investment. So without knowing your specific goals and plans it's really hard to know if 1$ per day is good or bad. On paper it seems like a small amount, but just for clarification, if you invested 1$ a day during a period of 2 years in a bear market into let's say BTC or ETH, and then reap the rewards when the bull market starts, then that doesn't really seem that small of an investment.

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Quote from: Maliceprime on March 17, 2022, 02:57:26 AM

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

If currently that's what you can afford, then that's better than having no plan of investing. It's a good start with that amount and my suggestion is that don't do it daily but rather save that up to a week and then buy it when the price seems to be down if you're going to buy bitcoin.

It's better that you have this initiative than have nothing at all. You can imagine this like as your savings but with a better choice because you'll be putting that bitcoin. And if you have any means of increasing your income soon, do not hesitate to add up that % from your daily income.

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10% of your income is a fairly responsible amount in my view, so I'd say go with it. Just remember that with that amount, you're likely to not get rich with bitcoin, but it could definitely help boost your earnings by a good amount if things go fine.

Also quick reminder that you should be frequently looking for more ways to increase your current income or look for more income sources.

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Quote from: Maliceprime on March 17, 2022, 02:57:26 AM

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

$1 investment into Bitcoin or any other cryptocurrency? I am aware of a $1 investment daily in Bitcoin for 5 years which can earn you a profit of roughly $20,405. It has been already discussed here - https://bitcointalksearch.org/topic/investing-1-every-day-in-bitcoin-over-the-last-five-years-5222895

If any other cryptocurrency then which one would you invest in?

Maliceprime

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Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

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