Getting into bitcoin with only $25 - page 3.

Realist247

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Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

If you intend to speculate with such a small amount of money stick to altcoins for a few reasons:

1) Altcoins have given MUCH higher returns than has BTC in the past 12 months. To double your money BTC needs to go to $20K. This is not taking into consideration the high probability of a large correction on the current price. People who push you to buy something at the top care only about their own greed and not the fact that the odds being against you in your timing.

2) You can't spend $25 worth of BTC without losing up to half of it in fees. If you need to buy something for whatever reason, you only have about $12-15 in spending power.

3) BTC is not a safe haven. It's purely a speculative instrument that can fall to $0 just as easily as the top 20 altcoins. What reason would motivate you to have a BTC reserve anyway?

pooya87

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considering the fees for buying and receiving,... you will receive about 0.0024BTC with current price. you could have received 0.0025-0.0026BTC if you bought it yesterday. the biggest issue you are going to have is to buy with such small amount of money. some exchanges have minimum amount of deposit and fiat deposits are expensive.

but it is no problem after you get the bitcoins. you can start trading with that much and if you know the tricks you may even be able to turn it into a much bigger amount. in fact it is a better idea to start with this kind of low amounts so that you don't lose much in case you made a mistake.

crzy

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That's a small amount but I still believe that you can still earn money from that. But you still have to learn more about this great technology, spend more time on reading here and forum, save money as you can and for sure big profit will come.

rjbtc2017

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Quote from: daweller on November 28, 2017, 09:54:24 PM

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Just find a Bitcoin ATM, buy $25 worth of Bitcoin, then hold ( hodl ) it for 5 years.

Nope, This is not recommended and not advisable. Apparently, Bitcoin is rising and price dip is highly possible and it may result into your loss, This move have high risk. As for me, I recommend and suggest that you can grow your $25 by trading altcoins, it may take time but surely Altcoins will grow specially to the altcoins that can easily be affected by Bitcoin's price, there are lot of Altcoins that have low prices, you can buy them but make sure you study everything on that coin and also make sure to know the risks of it.

mathiaslivis

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You can do it as long as you stick to it. I'm also starting to invest $300, and now it's about 2000 dollars. We have so little money to try not to buy bitcoins as much as we can, because they won't get too much of the money or dig out some potential other encrypted currencies.

sazon84

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I think the main thing to start. Even with such a small amount. But in order to raise capital, of course you need every month to add more the amount you can. You can just buy bitcoin (when he's even slightly on the correction), it still will grow.

A.Delaney

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The problem I see is fees. You need to trade for free. I use limit orders on GDAX and there is no fee. However it’s harder for me to trade with limit orders since you are predicting where the price will go. Market orders are much easier because you can sit there with your finger on the trigger waiting for the drop or rise to hit. The fee usually kills what profit I would get though.

samcrypto

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Vave.com - Crypto Casino

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Be more patient just buy bitcoin for now and hold it for good. Time will come that your account will rank up and for sure you can earn big money. Just read more about this forum and the bitcoin, and money will come for sure.

SummonKing2

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Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Only $ 25 is a small investment. Of course, the so-called whales will only eat it. So if you have a big money then use it as your investment. Because you can simply recover your losses because your money is big enough. Believe me that it will only quickly feed on price drops.

dinofelis

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It will cost you ~20% of your fiat amount to pay the transaction fee to get your coins (independent of exchange fee). In as much as bitcoin's price rises, if the fees rise proportionally, you will also have to pay 20% again whenever you want to use them. If the fees rise more than proportionally (that is, if the amount of satoshis per byte increases for the average fee), you might even hold an amount of coins that drops below the transaction fee (that is to say, unmovable coin dust). At which point you are the proud owner of some unmovable dust on the bitcoin block chain.
In other words, if the fees remain proportional, you will be able to get your full $25,- out of bitcoin again by the time that bitcoin has doubled its value. If the fees rise more than proportionally, you might lose them forever.

Bitcoin has moved out of the "pay-for-your-coffee" era (before you could buy coffee with it in most places). Bitcoin is now "gold" for larger investors. Look at other coins if you want to do stuff with small amounts of money. Consider for instance Litecoin (or any other "big" altcoin that isn't a clear ICO scam).

https://bitinfocharts.com/comparison/transactionfees-btc-ltc.html#log

For $0.1 you do a litecoin transaction, while you're around $5-$6 for a bitcoin transaction.

shesheboy

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Quote from: daweller on November 28, 2017, 09:54:24 PM

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Just find a Bitcoin ATM, buy $25 worth of Bitcoin, then hold ( hodl ) it for 5 years.

that was a hard task to find a bitcoin atm thesedays, knowing that bitcoin is not verry popular on some areas. he can just buy that 25$ directly on an online exchange sites to save himself from a hustle. though 25$ is way to small to start trading on altcoins, so i suggest to op is to put that first on bitcoin and hold it for some time in order to get a high return on his invested capital while making a profit at the same time.

Layonk

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Quote from: daweller on November 28, 2017, 09:54:24 PM

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Just find a Bitcoin ATM, buy $25 worth of Bitcoin, then hold ( hodl ) it for 5 years.

May i know in which country is the bitcoin ATM? I am curious.
Small amount is not always bad. For beginner its good to start with small amount.

whoisyourking

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Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Small or big amount you can invest in bitcoin as long as you know what you are doing and what you are into. This is a good practice that you can start investing in small amount and make it big later this will give you a small risk but you can learn from it.

Sahyadri

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It's good that you are aware of Bitcoin and trying to get involved in it. Although $25 is surely a small amount since BTC has reached $10500 now but there are ways through which you will be able to earn more from crypto. Just follow the forum and look around for opportunities and I am sure you will find many good opportunities to earn Bitcoin and other cryptos.

Rashid555

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I don’t think so that with this small amount you can start trading bitcoin such a expensive currency. First you need to make some money through services if you are a graphics designer and want to make some good designs and logos for the users and managers. If you have $25 just you should wait for the time to collect some more money or you can take a loan amount from your friend to start trading.

chiggz

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You can start trading with $25 but I wouldn’t suggest. You won’t see any profits and the chances of losing money are also high. Unless you have invested in a right coin at the right time and it’s shoots up.

As the other user mentioned you are better off buying an altcoin that has potential to reach higher value before end of 2018. Altcoins like IOTA or NEO. Just my two cents.

mk4

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If that's last of the money you have left, then I suggest that you don't go with bitcoin. You might need your fiat more than you need the bitcoins. If your goal is to use that $25 to daytrade altcoins as a beginner, then you're going to have a very bad time. Trust me. You're better of holding them than daytrading.

Cherylstar86

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Quote from: groundcontrol67 on November 28, 2017, 09:56:33 PM

Quote from: daweller on November 28, 2017, 09:54:24 PM

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Just find a Bitcoin ATM, buy $25 worth of Bitcoin, then hold ( hodl ) it for 5 years.

I would advise against this, sure it may turn in to something like $500 but that's your cap. If you are able to trade successfully you could turn it in to way more than $500. You can start that small for sure there's no reason you can't.

Maybe it could happen reaching that value, but I don't think smaller capital to start will gain at faster returns because you will have to wait for another uprising price. Small investments could not generate bigger profit within a short period of time you will encounter more struggles prior reaching your goals in order to control your decisions. Don't panic and if ever you have another excess money you should have an additional investments in order to make your capital increase also.

groundcontrol67

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Quote from: daweller on November 28, 2017, 09:54:24 PM

Quote from: bustun101 on November 28, 2017, 09:49:02 PM

I scraped together the little money I have and dove into bitcoin. My ambition is to make money trading altcoins and keep a bitcoin reserve. Can I even make it anywhere starting with such a small amount of money?

Just find a Bitcoin ATM, buy $25 worth of Bitcoin, then hold ( hodl ) it for 5 years.

I would advise against this, sure it may turn in to something like $500 but that's your cap. If you are able to trade successfully you could turn it in to way more than $500. You can start that small for sure there's no reason you can't.

lazygin001

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Doesn't matter if it is only 25 dollars. Buy it with the money you got and Hodl it for the next couple of years. It will be doubled, even tripled.

Topic: Getting into bitcoin with only $25 - page 3. (Read 1088 times)