Personally, I believe that attempting to invest $10 per week into bitcoin would be much more of a practical idea than investing $1 per day in terms of fees, attempting to be a bit more pragmatic about the whole situation of managing your time and perhaps trying to strategize, learn and frontload the BTC investment by going above and beyond the minimum $1 per day psychological goal that initially gets set. I am not poo pooing the idea of making sure to achieve an average of $1 per day, but a wee bit of a supplement to that idea.
Let me attempt to explain.
Of course, part of the ease of the suggestion of investing $1 per day is that it allows a bit of a speculation that a large number of people (even poor people) are going to be able to handle $1 per day, and likely would be able to invest $1 per day without even missing that $1 per day, even if s/he comes from a relatively poor location.
Therefore, I completely agree with the concept that almost anyone should be able to get to a point to be able get their finances in order to such a degree that they are able to average invest $1 per day into bitcoin and to maintain his/her standard of living (I recognize that there are exceptions to this idea too, in terms of really impoverished people who are NOT able to save anything and also who are considerably in debt or they have not figured out ways that they can assure that their income is greater than their expenses - that would allow to be able to save).
Part of the problem continues to be that a dollar is hardly even worth anything (even though it does add up on a daily basis). The dollar has been going down in value forever.
Sure, going down in value is a kind of philosophical way that money had been created (or at least used in modern times) (although relatively speaking the dollar has held its value quite a bit better than a considerable number of other fiat currencies), the dollar continues to go down in value and it is almost inevitably going to continue to go down in value.
In my thinking, it seems much better to attempt to manage a bit of a higher amount (not just $7 per week, but $10 per week - a nice round number that gives some extra learning cushion to both make sure to invest an average of a dollar per day and to learn along the way how to attempt to satisfy gambling desires and/or self constraint with the extra budget).
Of course, many of us likely recognize some practicality difficulties with unbanked or quasi-unbanked people is that they might have some difficulties finding ways to actually accomplish small daily or weekly investment amounts. They have to find a way to do it. Some kind of an exchange, so it could be quite possible that they might need to establish some kind of an account and then deposit some kind of higher amount, such as $100 and then to just draw from that amount on a daily or preferably weekly basis in order to achieve their investment goals and then replenish the account from time to time (and maybe even withdrawing some of the value from time to time, too in order to learn how to manage their private keys rather than keeping their coins on an exchange that might exit scam them).
Of course, I personally like the idea of a minimum investment timeline that is at least 4 years, which is the time of the halvening periods in bitcoin, and of course, a bit of a longer of an investment timeline that is anywhere between 5-10 years or even longer would be even better - while, of course, attempting to preserve a vast amount of discretionary aspects and control for the individual to override his/her prior decision to invest by choosing to liquidate at any time that s/he wants to; however, part of the discipline of investing is to make sure and to ensure that the investor gets his/her financial house in order before s/he is even able to invest.
For anyone investing, such investing goals should create an incentive to organize ones finances, and such organizing of ones own finances is likely empowering in and of itself. Once your finances are in order and you are able to assure yourself that you are able to invest $1 per day or $10 per week or whatever happens to be your chosen amount, then if any emergency comes about, you should have already made a plan to ensure that you have funds and resources that you can draw from somewhere else, and you should not have to draw from your bitcoin investment, even if you run into an emergency. The only time that you should draw from your bitcoin investment would be at a time that is completely of your own choosing - rather than NOT being adequately prepared for an emergency.
By the way, many of us should appreciate that emergencies are almost inevitable, and emergencies become even more inevitable if your finances are not adequately in order before investing in anything, whether bitcoin or other investments. So, making sure that your cash flow and finances are in order remains a very important thing to accomplish before investing in bitcoin or anything else.
So, we can see from the DCAbtc website that a
$1 per day DCA for the past 5 years did not look very different from a
$10 per week DCA for the past 5 years.
You can see from the graphs, that both of those approaches would have completely outperformed gold and the stock market during that period.
$1 per day produced the accumulation of 1.35 BTC and achieved a 661% (about 6.6x returns)
$10 per week produced the accumulation of 1.95 BTC and achieved a 669% (about 6.7x returns)
I am suggesting that the $10 per week provides more cushion - because there could be ways to just invest $7 per week no matter what, and then to attempt to be strategic with the remaining $3 by choosing either to invest that $3 right way or to carry over the $3 to subsequent weeks - and in that regard, developing a bit of an extra cash reserve that could be used for buying on dips.
So, for example, maybe every week you would decide that you are going to buy your BTC on a certain day of the week (some services will allow you to accomplish that automatically, or you can manually perform such BTC buy every week, if you were to choose), and you want to kind of watch the BTC price in order to strategically buy some more with the extra $3 per week that is in your budget, and maybe after 4-6 weeks you have not used the extra $3 per week to buy BTC, and you end up having an extra $12 to $18 that you can strategically attempt to buy BTC with at a later date, if a BTC price dip were to come.. or for some other reason that you had used that money as a kind of way to attempt to monitor the BTC price movements and attempt to learn about such movements and to learn about yourself, which could take several years to get some ideas about how to feel more comfortable managing the base portion that is invested every week no matter what and the other portion of your value that is attempted to buy BTC on dips - or some other strategic approach to use with the extra amount that you had determined is in your budget.
the current price of bitcoin is not that bad to start investing, In fact that is a long free ride for everyone that wants to own a bitcoin.