1$ per day crypto investment plan any good ? - page 7.

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Quote from: so98nn on March 26, 2023, 03:08:02 PM

So how exactly this strategy will work anyways? Are you expecting that $1 every day will grow into something big some other day? I am not sure about the methodology behind this because it’s really tiny amount and seems to be hard to grow big in coming days. I don’t have doubt about the bitcoins growth but I believe the volatility is so high for bitcoin that it could not compete the growth ratio if taken in literal sense.

Let's simplify the plan to a span of 30 days. $1 per day will be $30 in a month, OP can invest in bitcoin for that $30, and in the next 12 months he has $360 as his investment budget. The growth is indeed very low mainly due to price volatility, but it is a simple method that may be useful to anyone who is consistent.

I can imagine that someone who consistently saves $1 per day as an investment will reap the rewards in the long term. In bitcoin, hard things may become easy in the future, but there is always a risk.

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Quote from: aylabadia05 on March 21, 2023, 12:04:05 PM

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.

so98nn

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So how exactly this strategy will work anyways? Are you expecting that $1 every day will grow into something big some other day? I am not sure about the methodology behind this because it’s really tiny amount and seems to be hard to grow big in coming days. I don’t have doubt about the bitcoins growth but I believe the volatility is so high for bitcoin that it could not compete the growth ratio if taken in literal sense.

How about you increase the amount of investment and do it biweekly or something or at times when bitcoin hits the low. This will help you get a lower BEP and in long years it could just make you enough profits that you won’t regret.

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It all depends on the volatility here. If you invest $1 a day, the volatility is not too noticeable. And the whole question is when you invest. Maybe this altcoin has already peaked. When investing small amounts, risk management is usually not followed.

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Quote from: aylabadia05 on March 21, 2023, 12:04:05 PM

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.

I do agree. investing by buying one by one with $1 will not be enough. Because this will be lost in the fee daily for transactions. But this will be different if the people are accumulating 1$ per day and after 30 days, it will be around $30. This will be a good amount to start and become consistent for investing.
But, this is also wise enough to invest even a small amount if he or she is only able to do that amount. At least, he is not forcing himself to invest ore than he can afford. But he needs indeed to accumulate first the money. himself

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Quote from: Asuspawer09 on March 24, 2023, 12:20:42 AM

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Quote from: Maliceprime on March 17, 2022, 03:57:26 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 you already see my topic about Investing 1$ every day in bitcoin over the last five years you can see that investing 1$ will easily be a profit in the future and it's probably enough I think if your not a big spender, it just minimizes your risk on your investment as well.

The problem might just be the platform your gonna need to use since probably buying bitcoin cashing in etc, would have a little fee for sure, if you're going to do an investment of 1$ every day the fees could easily add up, so, in my opinion, the best way to invest your money is just to save up at first then probably when you save like a 100$ then you can buy bitcoin. Or just continue to save and then wait until big deep in the market, in that way you could minimize the risk of your bitcoin because it usually bounces back plus additional profit in the future.

I mean bitcoin is always the best option compared to other cryptocurrencies so I would say yes.

1$ per day in my country is good enough if we are in stage of newbie and still learning a lot of things . And also 1 dollar is equivalent to 57 bucks in my country and a lot of things I got if I spend 1$. So if I'm gonna invest that in 1 day in in the end of the year I got a lot of money and it's around in 18k so investing a day with 1$ is good but I don't think so in other countries may be 1$ is still small from them. And I think this amount is based on where we live in.

You have a point, in my country, 1 $ is also around 55-60pesos so 1$ is already not that cheap, So I guess 1$ would already be a good investment daily if you put it in your country's currency, but still, I would recommend saving your 1$ first before investing just because of the fees that could add up on multiple transactions of buying bitcoin daily compared to just buying bitcoin monthly, but you could also depend on the movement of the market, I mean there is a lot of opportunity of deep on the market price of bitcoin so if you think its a good timing for the investment you should right at that moment for a bit more profit, you might also want to minimize your buying when the market price continues to pump then maybe increase it when the market price continues to drop and should add a lot more profit to your investment.

We are in the same country and 1 dollar is big enough so 56 per day is enough to invest in the crypto world I think not just lateral we buy Bitcoin every day the best option is when we have our money and then keep it until we reach the specific amount which means we set our mind to save 7 dollars per week or 30 dollars per month then we buy crypto because when we buy everyday there's a time that the price is higher so it's better to have a plan before we invest.

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It really comes down to how comfortable you are with risk. If you're okay with potentially taking some big hits, then you might want to consider investing with a larger sum of money. But if you're not so keen on losing big, then starting small might be a better bet. Of course, this is just my two cents based on my own personal experiences. At the end of the day, everyone has their own unique perspective on investing, so it's important to do your own research and figure out what works best for you.

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Quote from: Maliceprime on March 17, 2022, 03:57:26 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?

Investing $1 in cryptocurrency everyday is way better than not investing anything at all. Since that is the least you can invest. But if you can afford more that that and it will not affect your other business or you wont be tempted to sell it off it will be perfect because it will increase your profit in years to come.
Secondly, it also depends on how patient you are to wait for a longer period, and since it is $1 investment you need to be consistent. No amount of investment is too small. The success of every investment lies in your consistency and your strategies.

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Quote from: Cookdata on March 24, 2023, 05:40:44 AM

Quote from: leonair on March 20, 2023, 03:20:01 AM

Quote from: Maliceprime on March 17, 2022, 03:57:26 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?

Investment depends on individual ability. Because investing $1 per day is $30 per month. And in this case many earn only 100 to 150 dollars per month how can that person invest 30 dollars for every month where in every country it costs 150 to 200 dollars to run a family every month. So if you can do that then surely it is enough. Because if you invest one dollar per day it becomes $365 in one year and if you can continue it for 10 years it will be $3,650 and if it is bitcoin investment then you will get about 10-20x profit from here in 10 years. So after ten years you can earn approximately 50K to 100K dollars by investing one dollar per day. It's just an idea there is no guarantee that this will actually happen. So invest based on your own research

If I understood the OP's quote properly, he emphasized responsibilities and, by that, I think he meant bills rather than being married and having kids, From his earnings, it is clear that he is single and that his income justifies everything. If you are not living beyond your means and trying to impress others, you can actually save $30 for investments each month. Just keep in mind that sacrifice and discipline are crucial if you want to invest; if you lack either, you might end up spending the money you set aside for the future. Also, you projected his investments to 10 years so quickly that I don't think that OP will earn an average of $10 each day for 10 years consequetively.

He may be single or he may be married but he has multiple sources of income so he earns a lot of money every month. And from there he can save 1 dollar per day means 30 dollars monthly and he wants to save this savings in Bitcoin. This is a good decision but the op must be aware of the risks of investing in Bitcoin. He must use a secure non-custodial wallet or hardware wallet where he can store bitcoins for 10 years. So expect op to get a higher amount after 10 years from this savings strategy.

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Quote from: leonair on March 20, 2023, 03:20:01 AM

Quote from: Maliceprime on March 17, 2022, 03:57:26 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?

Investment depends on individual ability. Because investing $1 per day is $30 per month. And in this case many earn only 100 to 150 dollars per month how can that person invest 30 dollars for every month where in every country it costs 150 to 200 dollars to run a family every month. So if you can do that then surely it is enough. Because if you invest one dollar per day it becomes $365 in one year and if you can continue it for 10 years it will be $3,650 and if it is bitcoin investment then you will get about 10-20x profit from here in 10 years. So after ten years you can earn approximately 50K to 100K dollars by investing one dollar per day. It's just an idea there is no guarantee that this will actually happen. So invest based on your own research

If I understood the OP's quote properly, he emphasized responsibilities and, by that, I think he meant bills rather than being married and having kids, From his earnings, it is clear that he is single and that his income justifies everything. If you are not living beyond your means and trying to impress others, you can actually save $30 for investments each month. Just keep in mind that sacrifice and discipline are crucial if you want to invest; if you lack either, you might end up spending the money you set aside for the future. Also, you projected his investments to 10 years so quickly that I don't think that OP will earn an average of $10 each day for 10 years consequetively.

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Quote from: Maliceprime on March 17, 2022, 03:57:26 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?

what you do is very precise, set aside 10% of your salary to invest in bitcoin. you are walking in a safe zone in investing, not too risky, slowly but surely.
as the saying goes a little - a little longer - it takes a long time to become a hill.
I hope your investment goes smoothly, friend.

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Quote from: Shamm on March 23, 2023, 10:31:48 AM

Quote from: Asuspawer09 on March 22, 2023, 08:52:09 PM

Quote from: Maliceprime on March 17, 2022, 03:57:26 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 you already see my topic about Investing 1$ every day in bitcoin over the last five years you can see that investing 1$ will easily be a profit in the future and it's probably enough I think if your not a big spender, it just minimizes your risk on your investment as well.

The problem might just be the platform your gonna need to use since probably buying bitcoin cashing in etc, would have a little fee for sure, if you're going to do an investment of 1$ every day the fees could easily add up, so, in my opinion, the best way to invest your money is just to save up at first then probably when you save like a 100$ then you can buy bitcoin. Or just continue to save and then wait until big deep in the market, in that way you could minimize the risk of your bitcoin because it usually bounces back plus additional profit in the future.

I mean bitcoin is always the best option compared to other cryptocurrencies so I would say yes.

1$ per day in my country is good enough if we are in stage of newbie and still learning a lot of things . And also 1 dollar is equivalent to 57 bucks in my country and a lot of things I got if I spend 1$. So if I'm gonna invest that in 1 day in in the end of the year I got a lot of money and it's around in 18k so investing a day with 1$ is good but I don't think so in other countries maybe 1$ is still small from them. And I think this amount is based on where we live in.

You have a point, in my country, 1 $ is also around 55-60pesos so 1$ is already not that cheap, So I guess 1$ would already be a good investment daily if you put it in your country's currency, but still, I would still recommend saving your 1$ first before investing just because of the fees that could add up on multiple transactions of buying bitcoin daily compared to just buying bitcoin monthly, but you could also depend on the movement of the market, I mean there is a lot of opportunity of deep on the market price of bitcoin so if you think its a good timing for the investment you should right at that moment for a bit more profit, you might also want to minimize your buying when the market price continues to pump then maybe increase it when the market price continues to drop and should add a lot more profit to your investment.

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Quote from: Asuspawer09 on March 22, 2023, 08:52:09 PM

Quote from: Maliceprime on March 17, 2022, 03:57:26 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 you already see my topic about Investing 1$ every day in bitcoin over the last five years you can see that investing 1$ will easily be a profit in the future and it's probably enough I think if your not a big spender, it just minimizes your risk on your investment as well.

The problem might just be the platform your gonna need to use since probably buying bitcoin cashing in etc, would have a little fee for sure, if you're going to do an investment of 1$ every day the fees could easily add up, so, in my opinion, the best way to invest your money is just to save up at first then probably when you save like a 100$ then you can buy bitcoin. Or just continue to save and then wait until big deep in the market, in that way you could minimize the risk of your bitcoin because it usually bounces back plus additional profit in the future.

I mean bitcoin is always the best option compared to other cryptocurrencies so I would say yes.

1$ per day in my country is good enough if we are in stage of newbie and still learning a lot of things . And also 1 dollar is equivalent to 57 bucks in my country and a lot of things I got if I spend 1$. So if I'm gonna invest that in 1 day in in the end of the year I got a lot of money and it's around in 18k so investing a day with 1$ is good but I don't think so in other countries maybe 1$ is still small from them. And I think this amount is based on where we live in.

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Quote from: Maliceprime on March 17, 2022, 03:57:26 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?

For starters, this is very good, you manage to save 10% of your income. In the future, when you can earn more, the amount will increase and in addition, you can certainly save more than 20 or 30%.

The most important thing is stability, try to be consistent in this, develop the habit of doing this on a regular basis. I have always been saving, since childhood, when my grandparents gave me money, or when they gave me pocket money, I always set it aside, no one taught me this, I just always liked the feeling when I have my own savings.

When I got older and learned from my friend about trading, I already had the savings to trade, and I also had the funds to buy some bitcoin. It was my first investment, I remember that moment I was very excited because I believed that one day it would make me rich. Now I also try to buy bitcoin when I have such an opportunity, I don’t have a stable job yet, but for some time I will have to put up with it, it will be evening or night work, there is not much money, but I can save something.

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Quote from: drwhobox on March 22, 2023, 07:46:37 PM

After reading the post, I have a similar idea about investing in crypto, It is ok OP can only invest 1$ per day in bitcoin which means in a month his investment will grow into 30$. OP also can buy bitcoin after 30 days and invest them so he doesn't have to pay more fees.

I saw a thread that someone invested in bitcoin 1$ a day for 5 years and his profit was 20k+$ after 5 years.

such a step requires consistency. and the results you will get depend on how consistent you are with the investment planning you are doing.
because planning like this is for the long term, we still don't know how the market conditions and the price of Bitcoin will be in the future when you will make a fiat withdrawal. just focus on the quantity of your Bitcoin assets. never care about the fiat value of the Bitcoin that you have.

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Quote from: Maliceprime on March 17, 2022, 03:57:26 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 you already see my topic about Investing 1$ every day in bitcoin over the last five years you can see that investing 1$ will easily be a profit in the future and it's probably enough I think if your not a big spender, it just minimizes your risk on your investment as well.

The problem might just be the platform your gonna need to use since probably buying bitcoin cashing in etc, would have a little fee for sure, if you're going to do an investment of 1$ every day the fees could easily add up, so, in my opinion, the best way to invest your money is just to save up at first then probably when you save like a 100$ then you can buy bitcoin. Or just continue to save and then wait until big deep in the market, in that way you could minimize the risk of your bitcoin because it usually bounces back plus additional profit in the future.

I mean bitcoin is always the best option compared to other cryptocurrencies so I would say yes.

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Quote from: Crypt0Gore on March 21, 2023, 08:14:10 AM

You will have to wait for 11 days to be able to withdraw your Bitcoin back into your wallet if you are storing the 1$ on a top crypto exchange, this is not a safe practice, because anything can happen to any exchange no matter how big they are, it is better to safe your money up to 11$ or 12$ before using it to buy crypto, for example when I am using Binance I can't withdraw anything less than 10$ on the exchange, I can't even buy anything with 9$, Huobi exchange has to follow the same step too.

*Wait till you have up to 12$ to buy so you can withdraw instantly.

*Avoid storing your daily 1$ on any exchange, they are safer in your bank account until you are ready.

After reading the post, I have a similar idea about investing in crypto, It is ok OP can only invest 1$ per day in bitcoin which means in a month his investment will grow into 30$. OP also can buy bitcoin after 30 days and invest them so he doesn't have to pay more fees.

I saw a thread that someone invested in bitcoin 1$ a day for 5 years and his profit was 20k+$ after 5 years.

StormHawk

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It's a good way to start but it's a bad way to gain financial freedom, it's likely never going to happen, because to make big money investing in crypto you also need money, if you can invest 5000$ in Bitcoin you will make better gains, unlike investing 360$. With 5000$ on Bitcoin and we see a BTC for 120k in 2025 you could be having like 25,000$ or more, if 360$ is all I can get then I won't bother with Bitcoin.

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Investing $1 per day in cryptocurrency is a good way to start building a long-term investment portfolio, especially if you don't want to commit a lot of money upfront. However, it's important to remember that cryptocurrency is a volatile and high-risk investment, so you should be prepared for potential fluctuations in the value of your investment.

As for whether Bitcoin (BTC) is the best option for your $1 per day investment, it depends on your investment goals and risk tolerance. Bitcoin is the most well-known and established cryptocurrency, and many investors believe it has the potential for long-term growth. However, there are many other cryptocurrencies with different characteristics and potential for growth, so it's important to do your own research and consider diversifying your investments across multiple cryptocurrencies

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Quote from: Luzin on March 21, 2023, 11:32:51 AM

The best thing is to set aside it in fiat form and then convert it to the desired coin, it seems that it is more effective. Remember every transaction has a fee, the minimum transaction so it seems difficult to get 1$ in fiat converted directly to crypto coins.
Even in 2015 I started trading no more than $50. But I agree with you, there is no need to force to invest in crypto. You don't have to force $1 every day if it makes it difficult for you to meet basic needs.

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.
For example, one of my local exchanges sets a minimum amount for each deposit of about $4 when exchanged for USD. For this deposit if I make it with an e-Wallet payment method.

It would be great if the $1 was collected first as you said.
This means that when the desire is there, there are many ways to achieve it.

Topic: 1$ per day crypto investment plan any good ? - page 7. (Read 1905 times)