I only have 0.001 Bitcoin is that okay?

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

for me it's still a little, if you have more money then you have to add to your bitcoin asset portfolio...

you can buy bitcoin slowly if you don't have big capital directly, imitate how el salvador or michael saylor buy bitcoin, they only buy bitcoin when the market dips and it's a great trick.

Rufsilf

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There's really no shame at all in having or holding small fractions of cryptocurrencies like bitcoin. And there's no need to be proud of it publicly because it's your private asset, you wouldn't want someone either to know your holding bitcoins or any kind of cryptocurrencies, just be humble and be proud of it privately.
Just hold it, or invest small fractions again if you have some spare funds. Just make sure to secure it in a safe place and wallet to recover it when you need it in the future, who knows, that small fraction will be worth at thousands of dollars in the future.

michellee

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Maybe 0.001 btc now is equal to $47 because of the drops of the bitcoin price but who knows, in the next 5 years later, 0.001 btc can become $470 or even higher so I think that is enough for you to have 0.001 btc at the moment. But you should try to have more and keep it in your wallet and not sell if the price does not jump higher. If you want to use bitcoin as your investment, you should know the risk behind bitcoin so you can calculate how much money you will use for the investment and do not use the money you can not accept to lose.

lenovop-70

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It doesn't matter how much you hold, as long as it's cold cash and no plans to use it any time soon, I think it's legit.
One investment recipe is to use cold money, where if you keep it at home you will not be very rich, and if you lose your investment you will not become poor, I think that principle is enough to start investing in the crypto world.

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Quote from: marilynmanson21 on December 04, 2021, 08:38:34 AM

Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

whatever how much bitcoin you have it is the result of you saving. all owners of many bitcoins are also the same as you buy with a small value and then hold / in the tube so that it reaches 1 btc and sell it when they have made a profit of 100x from their initial capital,

If we want to save Bitcoin, there is no rule that requires us to have 1 BTC, we do have to buy Bitcoin in accordance with the financial capabilities that
each of us has. So if our financial ability is only able to buy 0.001 BTC, it is not a problem. In fact, many investors have Bitcoin under 0.001 BTC.
Bitcoin is a high risk asset. so use the money that we can afford to lose to buy Bitcoin. Whatever amount of Bitcoin we have, if we are able to hold it
in the long term, of course it will generate profit. Because the price of Bitcoin does continue to rise every year, so don't be discouraged if we haven't
been able to own 1 BTC.

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

A 0.001 BTC is so much better than having 0 BTC at all.
There are some people out there who doesn't have the guts, the initiative and the courage to buy Bitcoin for some reasons. One is they are afraid to lose their money that they used to buy Bitcoin. Another one is that they don't have the money to use.

I still remember the time when I got a thousand Satoshis way back 2017 and I was happy because I got that from faucets. I started from faucets, saving all the Bitcoins from it while learning the basics. Now I'm holding Bitcoins and will hold for some time. If that is what you can afford only then there is nothing wrong with it but if you can accumulate more then it would be better. Keep a percentage of your salary or your money and use it to buy BTC

. Good Luck.

decodx

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Yeah, that's fine. It's good to feel like you're at least part of the community. The way to join the community is to have at least some Bitcoins. You have to keep that in mind.

Fun fact, all of us here have had exactly 0 BTC at some point! Cheesy

marilynmanson21

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

whatever how much bitcoin you have it is the result of you saving. all owners of many bitcoins are also the same as you buy with a small value and then hold / in the tube so that it reaches 1 btc and sell it when they have made a profit of 100x from their initial capital,

ultrloa

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

If that all you can afford then that's totally fine and you can make it grow by investing it around but make sure you didn't put your money in hyip's since you will lost all of the amount you invested in, Also most of us start from small so there's no need to worry about thinking that you can only afford small amount since if you study crypto well and learn how to trade then possibly you can multiply your 0.001 bitcoin into 0.01 or even more bigger than that.

Issa56

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If you are investing always have it in mind that no amount is to small nobody know ls what 0.001btc will turn in the nearest future you just need to have the ability of holding if you can hold then that's nice and also if you can still acquire more then you can still buy more but if you think you can't bag more just hold the one you are having already and I believe in the nearest future you will never regret holding.

Fredomago

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We are all started having that small amount buddy , i remember the first bitcoin i have wayback is 0.1 , that time the amount is really peanut but after a long years? look how much the value now.
this same reason why you must wait for that to increase in future, meaning HOLDING is what you must do, and add some when there is a chances .
take more and more while the price is cheaper now, look at the market it is in dumping position meaning you can purchase more cheaper.

btc78

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Who cares about how much you are holding? because i dont ..

We are all not required to how much we must have but at least the amount in our possession must be the amount we can afford to lose.

no matter how much is that yet you need to treasure that amount.

in 10 years that 0.001BTC will be enough to buy a car or a house .

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Pmalek

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Whatever amount you feel comfortable with investing is the final amount you should purchase at that given time. No investment should cause you financial burden like not being able to pay regular bills, heating, medicine, or put food on the table. All that is far more important than Bitcoin, gold, fiat or any other value, physical or digital.

Quote from: Bitcoin_Arena on December 03, 2021, 06:49:16 PM

It's more that Ok if that's what you can afford. Unlike some fiat currencies, you can buy, sell or hold or transfer a fraction of 1 Bitcoin without any problem.

You can do that with fiat as well. $1 isn't the largest unit. You have coins of 1, 5, 10, 25, and 50 cents.

Joshapat

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Of course it's not enough, if the current bitcoin price is around $48k you only hold $48, I suggest to keep adding and now is the best time to buy, I've invested around $390 to buy bitcoin and hope the market recovers soon.

akar87

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Quote from: bounceback on December 04, 2021, 01:14:21 AM

Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Investing in bitcoin for the long term does not require us to buy bitcoin units, because we can still invest with the number of bitcoin fractions you currently have, but my advice if you currently have cold money you should buy more bitcoin fractions, because today the price of bitcoin is undergoing a correction and this is the right time to buy it.

Today the price of bitcoin is experiencing a slight correction and if we look at the data from CMC the lowest price of bitcoin today was at $42k and the highest price was $57k, so now we have to take advantage of this decline to increase our portfolio by buying more bitcoins at low prices and hold it for the long term.

yohananaomi

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Quote from: bounceback on December 04, 2021, 01:14:21 AM

Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Investing in bitcoin for the long term does not require us to buy bitcoin units, because we can still invest with the number of bitcoin fractions you currently have, but my advice if you currently have cold money you should buy more bitcoin fractions, because today the price of bitcoin is undergoing a correction and this is the right time to buy it.

yes, no matter how much you can collect if it will also be clear later it will also have an impact. it's true what the colleague said above that you don't have to have bitcoins in units, but in any form if you always keep doing and saving it can be sure that quite a lot will be collected, especially now that bitcoin is being corrected, there is always a chance to get the best at the right time. do not give up on what you are doing as long as it will indeed make good too.

bounceback

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Investing in bitcoin for the long term does not require us to buy bitcoin units, because we can still invest with the number of bitcoin fractions you currently have, but my advice if you currently have cold money you should buy more bitcoin fractions, because today the price of bitcoin is undergoing a correction and this is the right time to buy it.

kanayaTabitha

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

There's nothing wrong with it, investment is an art of savings a little of our money regularly and we will enjoy the result in the future.
So i think as long as you use your free money to invest in bitcoin or other cryptocurrencies it's okay no matter how much you could spent for it because the return will be the same in percent compared to people who spend more.
Just don't use a money from lending or money that you have to use it in near future to invest in crypto because that's too high risk

Dr.Osh

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there is no minimum in holding bitcoin buddy. as long as you believe in it. in fact, it's good enough for your initial move. You can add to it in the future, or you can hold it until the price reaches $100k. if the price has reached the price of $100k, then you already have $100. however, I'm sure the price of your bitcoins will continue to grow. Next, you just need to think about the next strategy, don't stop at one point and get satisfied quickly.

so98nn

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Definitely you are more richer in crypto space as compared to those who does not even hold fraction of bitcoin or those who does not even know what bitcoin is. So it’s not about the amount you have, it’s all about you have started with something. Possession of bitcoin is amazing thing, if you can afford only this much then no issues you can always grow them by means of sell high buy low formula if you wanna risk trading.

I am getting few bits now and then through different works, however I only keep few hundred bucks on the wallet in bitcoin form and most of them in USDT.

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

It is better to have at least a small part of Bitcoin than not to have it at all, but actually, you should enlarge your portfolio. Try to invest 10% of your salary every month and this way you will have more Bitcoins within time. Also you can try some other methods of working on crypto market so as to increase your capital and then part of it invest in more conservative bitcoin while the rest of your capital you will be able to invest in something more risky.

famososMuertos

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With due respect for your participation, but what are you asking, if you are affirming it in your same question.

If it's all you can afford, then don't steal or invest what you don't have, so "okay" well done.

In short, try to add funds every time you can and that new amount will be the new one, this okay.

Dave1

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

Of course it's better to have more bitcoin in your wallet and hold it for the next couple of years.

But if you have that much then who we are to judge you? Maybe a advise is that it's not really hard to have bitcoin. I mean you can continue to stack sats from time to time. It doesn't mean you have to buy .001 in just one go, maybe .0001 per month will do it for you.

So best of luck and hopefully you can accumulate more.

traderethereum

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I am sure that it is okay to have 0.001 BTC at first but you can try to have more than that if you want because there is no minimum of bitcoin you should have but I suggest you have many bitcoins.
While you are holding 0.001 BTC and still doing your daily activities, you can try to save your money and buy bitcoin so you can increase the amount of bitcoin you have.
I also tried with small money but at that time, the bitcoin price was not higher as today but still, that is a low bitcoin amount that I have.
Who knows, by still holding your 0.001 BTC for more than 5-10 years, the bitcoin price can soar to the high price so your 0.001 BTC will be worth more than just $5.

tranthidung

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It is what you started with and good enough. At least you are bitcoiner and not Bitcoin outsider.

When you do invest in Bitcoin, you will love it and won't leave it. There are gamblers join and go but they will come back. If you are real investor, not gambler, you will stay in Bitcoin market.

You can do Dollar Cost Averaging (DCA) when you have more spare money for investment. Check this website to estimate your outcome from DCA
https://dcabtc.com/

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

That's okay, and you are one of the better people of those who ignore it and you do it to the best of your ability without pushing circumstances or sacrificing anything of value to do so.
And who knows one day you might get an unexpected windfall and intend to increase your holdings after prioritizing your needs and putting the rest into bitcoins without coercion, and doing it for the long term and who knows in the future your holdings become very valuable.

The Cryptovator

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As a beginner, the amount you are holding is fine as long as you can afford it. It doesn't matter how much amount you are holding, the matter is understanding Bitcoin technology and related stuff. Since you are holding the amount it would be worth more than your expectation once a day. But you have to learn to properly store it and how to handle Bitcoin properly. A good practice would help you to prevent unwanted incidents.

I will suggest using a non-custodial wallet. If you aren't aware of it please use search the forum button. Not only for that, for anything you need to know use the forum search button. If you failed to find the desired answer just ask the community.

Darker45

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Yes, it is. It is always fine, in fact, admirable, to only have as much as you can afford. That means a whole lot of things. That means Bitcoin is available in any amount. Many are saying they have come to know Bitcoin too late as it is already very expensive. Well, Bitcoin is so divisible. That also means you are only buying what you can. That's in contrast to others who took loans, sold properties, postponed bills payments, and so on just to buy more Bitcoin. That would be imprudent. That also means you are buying regardless of how much you have at the moment. Others are putting off buying because they're still saving for a much bigger purchase. I don't think it's necessary. Time is running.

Beparanf

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Quote from: GOCrazy on December 03, 2021, 06:32:49 PM

Is it fine to only have that much because that's all I can afford.

As you stated already, That's what you can only afford.You should invest only what you can afford on any investment opportunity you are entering because you don't need to extend your budget to the things that has a risk involved. You can always accumulate more once you have a budget and also there's no minimum invesent to be consider when buying Bitcoin so don't be pressured and FOMO if ever Bitcoin is increasing price. Remember that you are investing to gain money and not to chase maximum profit.

Obito

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It's fine as long as you plan to invest more in the future and hopefully you plan to add more to it. It's a good start actually especially with how high the price is right now, I think that it's best to have some bitcoins in your possession just so you have something to pull out just in case.

breathlessz

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I think if the asset is cold money then there is no problem, so you will be calmer in holding it, you can even ignore it and a few years later you can open it again, and at that time maybe the value will be better than you put it in the bank

TimeTeller

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Quote from: Vaskiy on December 03, 2021, 06:56:31 PM

What you keep hold is now valued $5.3, it has got some value. We don't know what'll be the market of bitcoin in the future. Hope for the better future, and you try to accumulate little by little on a non custodial wallet. As the plan is long term holding this could get you better return. Small droplets make Ocean, so never think it is small. Do the best you can and increase your holding.

Anyone can start from small amount. It is up to him how he will increase this initial amount.
What the OP can do is find ways how to increase his satoshis or portfolio.
Try looking under services section because someone may need his skills or expertise.
There are so many ways how to get a hold of crypto. Some are even collecting from faucets, which is time consuming, and yet they are collecting.

Vaskiy

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What you keep hold is now valued $5.3, it has got some value. We don't know what'll be the market of bitcoin in the future. Hope for the better future, and you try to accumulate little by little on a non custodial wallet. As the plan is long term holding this could get you better return. Small droplets make Ocean, so never think it is small. Do the best you can and increase your holding.

dothebeats

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There's really not a minimum bitcoins you need to hold in order to be ready in the future. You may only have that much today, but you can still work for the money and buy coins as much as you like, as long as it's within your means and your finances are not greatly affected. It may not amount to much today, but who knows how much it will be in the future? For now, keep it as if you're keeping thousands of bitcoins -- it is your gateway to crypto.

Bitcoin_Arena

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It's more that Ok if that's what you can afford. Unlike some fiat currencies, you can buy, sell or hold or transfer a fraction of 1 Bitcoin without any problem Some time last year 0.0001 BTC was worth $5, today it's worth $53. Tomorrow it could be worth more.

BitMaxz

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There is no problem holding it and maybe it could be worth $100k or more in the future.

But the only problem is if what wallet are you using? If you are using a custodial wallet you don't have control of that wallet. So always use a non-custodial wallet that generates you a seed phrase that you can use for future recovery.

GOCrazy

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Is it fine to only have that much because that's all I can afford.

Topic: I only have 0.001 Bitcoin is that okay? (Read 259 times)