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?
I will accept the plan you have made but I want to know from you how many days or years you want to invest. If you invest for a fixed time period of 10 years or 20 years then I would definitely support that it is better. But of course you will convert 1 dollar per day to Bitcoin. After 10 years or 20 years, you will see that you have a huge amount of money from here. Many people save for future plans but the decision you take to invest is a good one so I definitely support it 
Topic: 1$ per day crypto investment plan any good ? - page 6. (Read 1905 times)
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?
Making at least $1from crypto trading is a lots of money if we can be doing that consistently without any loses. There are some traders in the cryptocurrency market thqt can make up to $1000 in a trade and lose like $1500 in the other trade. This is a big lose in case we don't know. This kind of traders will keep making profits and losing it at the next trade. We need to understand what we are doing and make appropriate calculations before we think that we are making profits when we are not . Trading needs risk management which many traders donnot really care about. Our risk management is what will determine whether we are going to be making profits or loses.
1$ is too low but according to the basic rule "" don't invest more than you can afford to lose" i think its very good because monthly your investment will be 30$. here i will give advice that instead of adding 1$ daily, it will be good option to add 30$ monthly. if you buy with credit card, it will cost you daily. if you choose monthly deposit then you have to pay only one time fee for depositing.
Buffett would not agree with you, because he invests very large sums, but at the same time he is definitely not ready to lose them. We create savings and invest them, for many of us this is a lot of money, especially if we are talking about a long investment time, which can take several years.To begin with, these will not be very large amounts, but over time we can increase them when our income grows. Therefore, investments will always be those amounts that we cannot afford to lose. You need to take care of their safe hold, and think about diversification when investments reach large values.
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,
1$ is too low but according to the basic rule "" don't invest more than you can afford to lose" i think its very good because monthly your investment will be 30$. here i will give advice that instead of adding 1$ daily, it will be good option to add 30$ monthly. if you buy with credit card, it will cost you daily. if you choose monthly deposit then you have to pay only one time fee for depositing.Quote
also is BTC the best option with this 1$ per day?
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 looks small but that's already better than people who have more income than you but have no investment at all or never planning an investment.This will not make you rich, but you will have investments that a few years later, if done regularly, will benefit you, and you can use the results of these investments to start a business that can increase your finances and make your life better.
If you feel the need to add a percentage of the investment, it is better to increase your income than forcing it to increase with the same income because when you are pressed it is very possible to sell it at a loss, so that your investment becomes a failure.
Thats a total of $365 in a year; this is better than telling yourself to invest on a monthly basis, but you ain't doing it. By the way, what cryptocurrency are you planning to invest in? Also, are you not going to get tired of depositing it on a daily basis? I think it is better to accumulate it over the month and then deposit it on a monthly basis because I am not sure of the fees on this and also not sure what platform you are using, as others won't accept if you are just depositing $1.
This seems to me like a good idea but not everybody can be consistent and disciplined in achieving this, not even me. The best I could do is every month and I also do find it difficult to be stable in it due to responsibilities and all. My life could be stressful but I still see bitcoin as my escape plan from these hard times.
The only thing that you'll be worried on this strategy is the fee. Transaction fees, makers fee and other types of fees when you're already in the exchange.
It's discouraging if you're going to calculate it but since you just want to be consistent on it, nothing matters as long as you're eager to do what you've planned.
We'll get more bitcoins in terms of satoshis and that's much better than having nothing. You don't know how each bitcoiner is struggling to make ends meet and if someone is doing something for his own portfolio, it should be acknowledge any strategy he does.
It's discouraging if you're going to calculate it but since you just want to be consistent on it, nothing matters as long as you're eager to do what you've planned.
We'll get more bitcoins in terms of satoshis and that's much better than having nothing. You don't know how each bitcoiner is struggling to make ends meet and if someone is doing something for his own portfolio, it should be acknowledge any strategy he does.
In fact, the plan may not be effective because transaction fees and other types of costs will indeed be a challenge for OP if implementing this strategy.
But you are right, everyone has their own way of owning Bitcoin whether it's by trading or investing or whatever way they have Bitcoin and of course each person will have a different nominal amount that will be used, the most important thing is that it must be adjusted to their abilities and it's better if they already have the desire to get started rather than have no plans to start at all.
But here what I'm focusing on is the OP's intention to want to start even with a low nominal, this is an intention that we must appreciate.
If done consistently it is good because it will build a good consistent habit of investing, while OP starts investing in small amounts he has to learn more to find more effective ways before increasing the nominal amount to be used to invest.
Though this is actually a small amount of money to start with in case you are looking for higher returns, however, since it something that I see you're comfortable with risking and investing should anything goes wrong it still a nice strategy than you staying on the sideline and waiting until you get biger amount of money, you could missed the opportunity of Buying Bitcoin while the price is still cheap , plus if your source of income isn't that enough to enable you put more money than $1.
Is 1$ 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?
Doesnt matter on what amount you would be putting up, the important thing on here is that you do able to invest on the amount which you can afford to lose and we do know that we do have different priorities in life on which it is really just that right that we do give out importance or really that focus into that.Its understandable that each one of us does have that kind of target or goal on having that financially freedom and this is why we do dive in into investment things but of course it isnt something that simple that someone could end up positively.This is why it would really be just that right that you should be aware on what are the accompanied risks into it.
Honestly if you make about 10 bucks a day, and want to invest 10% of that, it is definitely good. Remember, this dude might be investing 30 bucks a month but he is also making 300 bucks a month as a whole as well.
So in month 10, he would have a whole salary saved up, which means he would have 13 salaries and that would be amazing for most people in the world, it would literally solve all your problems, I would be literally paying off my entire debt and would be living like I am the king if I got a whole another salary on top of my salary. So I believe what this person is doing could be considered as amazing as it gets and should be supported like the best thing there is for that person.
So in month 10, he would have a whole salary saved up, which means he would have 13 salaries and that would be amazing for most people in the world, it would literally solve all your problems, I would be literally paying off my entire debt and would be living like I am the king if I got a whole another salary on top of my salary. So I believe what this person is doing could be considered as amazing as it gets and should be supported like the best thing there is for that person.
It is a great idea if you could keep it up,
But also remember that this is an investment not a quick rich scheme like most of newbie's expect it to be.
For me it is better this way because you are constantly investing for your future and it doesn't feel heavy on your end of course for those who are earning enough.
But also remember that this is an investment not a quick rich scheme like most of newbie's expect it to be.
For me it is better this way because you are constantly investing for your future and it doesn't feel heavy on your end of course for those who are earning enough.
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Investing $1 per day in bitcoin is a great idea, this is a very good investment strategy I believe that not very many people are away of, with this strategy, one can easily, comfortably and conveniently invest in crypto without struggling financially.
Though I already have my investment in bitcoin, but I think this is a strategy I will try with another coin, I will look for a good altcoin and invest a dollar per day in it for 365 days at first, let me see what the outcome would be.
Though I already have my investment in bitcoin, but I think this is a strategy I will try with another coin, I will look for a good altcoin and invest a dollar per day in it for 365 days at first, let me see what the outcome would be.
Is 1$ 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?
I think the feasibility of any investment should be measured by its ROI, not by the invested amount, so the revenue should be the metric that decides if your investment plan was a good one, and compare it with other types of investments. On the other hand, even small amounts can pay off in crypto, so don't underestimate any amount, as 1$ invested in some projects in the previous cycle resulted in $100, which means, in your case, you were saving $100 every day. Generally, altcoins always generate higher returns, but there're thousands of them, and you have to choose wisely with prior due diligence. Another point, I agree with you regarding the percentage of your earned money which you put in crypto, as %10 is the reasonable one, and it looks affordable for most people, and at the same time, might pay off good amount if invested wisely. Moreover, your investment will generate more return if the bear market lasted longer than expected, because you have a longer period to buy cheaply.
Is 1$ 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?
I can say, $1 per day takes you closer to your dream.I am excited for you because I feel that you have set a smart goal. It is clear. It is specific. It is something than can be achieve and within your means. There is no pressure whatsover on it.
This is worthy of emulation, and I encourage every other person who thinks they need to have a huge sum of money to invest in bitcoin to give it a trial.
That's what I mean guys. $1 will not be enough to make an investment because each exchange may impose a minimum limit on each deposit which may be above $1.
And that's why he can collect it on his own and then until he reaches the minimum amount for deposit and exchange it on bitcoin. For if it will take around 10 days to complete the $10 less fee, he has to plan it well and make sure that he's doing it rightfully so that the savings that he's got won't just be taken into fees. There have been altcoins that seem to be cheap but in terms of their network fees, they're eating a lot of money from all of their users and investors. That's why if someone is still doing this strategy of DCAing for $1 daily, you save it first and then deposit it all at once like when it's big enough for the minimum deposit.It's discouraging if you're going to calculate it but since you just want to be consistent on it, nothing matters as long as you're eager to do what you've planned.
We'll get more bitcoins in terms of satoshis and that's much better than having nothing. You don't know how each bitcoiner is struggling to make ends meet and if someone is doing something for his own portfolio, it should be acknowledge any strategy he does.
In fact, the plan may not be effective because transaction fees and other types of costs will indeed be a challenge for OP if implementing this strategy.
But you are right, everyone has their own way of owning Bitcoin whether it's by trading or investing or whatever way they have Bitcoin and of course each person will have a different nominal amount that will be used, the most important thing is that it must be adjusted to their abilities and it's better if they already have the desire to get started rather than have no plans to start at all.
But here what I'm focusing on is the OP's intention to want to start even with a low nominal, this is an intention that we must appreciate.
If done consistently it is good because it will build a good consistent habit of investing, while OP starts investing in small amounts he has to learn more to find more effective ways before increasing the nominal amount to be used to invest.
That's what I mean guys. $1 will not be enough to make an investment because each exchange may impose a minimum limit on each deposit which may be above $1.
And that's why he can collect it on his own and then until he reaches the minimum amount for deposit and exchange it on bitcoin. For if it will take around 10 days to complete the $10 less fee, he has to plan it well and make sure that he's doing it rightfully so that the savings that he's got won't just be taken into fees. There have been altcoins that seem to be cheap but in terms of their network fees, they're eating a lot of money from all of their users and investors. That's why if someone is still doing this strategy of DCAing for $1 daily, you save it first and then deposit it all at once like when it's big enough for the minimum deposit.It's discouraging if you're going to calculate it but since you just want to be consistent on it, nothing matters as long as you're eager to do what you've planned.
We'll get more bitcoins in terms of satoshis and that's much better than having nothing. You don't know how each bitcoiner is struggling to make ends meet and if someone is doing something for his own portfolio, it should be acknowledge any strategy he does.
That's what I mean guys. $1 will not be enough to make an investment because each exchange may impose a minimum limit on each deposit which may be above $1.
And that's why he can collect it on his own and then until he reaches the minimum amount for deposit and exchange it on bitcoin. For if it will take around 10 days to complete the $10 less fee, he has to plan it well and make sure that he's doing it rightfully so that the savings that he's got won't just be taken into fees. There have been altcoins that seem to be cheap but in terms of their network fees, they're eating a lot of money from all of their users and investors. That's why if someone is still doing this strategy of DCAing for $1 daily, you save it first and then deposit it all at once like when it's big enough for the minimum deposit.The intention is good but the execution always have risk, imagine you will convert $1 a day which entitle to pay for your conversion fee, if you can take that risk and you are willing to move forward then you can check it out after a year, if you are lucky and the timing is right then you might see growth in dollar value.
But on the other hand, if the timing is not right, if you bought during bull season then the market fell then expect that you will see the other side of this investment.
Need to work more with how you execute your plan strategy before trying the risk on it.
That's what I mean guys. $1 will not be enough to make an investment because each exchange may impose a minimum limit on each deposit which may be above $1.
And that's why he can collect it on his own and then until he reaches the minimum amount for deposit and exchange it on bitcoin. For if it will take around 10 days to complete the $10 less fee, he has to plan it well and make sure that he's doing it rightfully so that the savings that he's got won't just be taken into fees. There have been altcoins that seem to be cheap but in terms of their network fees, they're eating a lot of money from all of their users and investors. That's why if someone is still doing this strategy of DCAing for $1 daily, you save it first and then deposit it all at once like when it's big enough for the minimum deposit.
Is 1$ 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?
That would be 360 USD per year. It doesn't look big IMO but it's better than nothing. Just don't expect great returns and you will be just fine but I think there is a better way of doing it than investing 1 USD daily. Why not invest only after a week or two?Because there might be fees and it will mostly eat your dollar, leaving you almost a dust in your wallet or you can not buy at all if you are buying from a centralized exchange because they have minimum orders. Doing it is also not a hassle. There are cryptos other than BTC which will give you more coins from your dollar but they aren't really guaranteed to grow so its better to focus on quality, not quantity.
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