Is $30 dollars worth starting bitcoin? - page 3.

Altryist

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Quote from: summonerrk on April 29, 2023, 03:42:28 AM

As a percentage, increasing $30 per dollar per day is a lot. That's three percent a day. It is better to earn at least another hundred dollars on the forum, and then try to increase this amount as a percentage.
There is a golden rule that small amounts need to be increased by arithmetic progression (just adding money by earning fiat, on the forum, etc.), but large amounts - by geometric progression (trading, deposits, and everything that increases the amount multiplied by a percentage). Then it all makes the most sense.

There is a formula by which you can calculate for what period the invested amount will double, if you know at what percentage per annum you want to invest your money, it is called rule 70, you need to divide 70 by a percentage, let's say let it be 5%, in this case your amount will double in 14 years, but you know, in the case of fiat money, inflation will eat up their value. I was once very interested in this topic with compound interest, but it can work in a period when there are no crises and inflation is not high, times are changing and now it is better to find more effective use of your money.

amihada

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if you want to get big profits, do it with big capital, if the capital is small, the profits are also small, you can't invest in bitcoin, even if it's only $ 30, but it would be nice if you have a capital of $ 30, choose to invest in alcoins, you will get more profit because alcoins can go up drastically and the profits also more, it's just a suggestion.

Shenzou

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Quote from: Godlovesyou on April 19, 2023, 02:15:09 AM

Someone ask me a question after introducing bitcoin to him, if he can start up with $30 and grow with it but I told him bitcoin is wide and high in volume, price and market, that's means whatever you're starting with determine the outcome of the market like for example; if you start with $30 and eventually the market goes up to a little increase of $32 can not be compared with someone who started same time with you, at the rate $100.

So also when the market is down to some extent, the person with $30 may likely loss more because of the money is small. Blockchain has the minimum amount one can invest if am not mistaken but if your amount is too small may be difficult to make easy progress.

What do you think about my advised to him?

I think that investing any amount in bitcoin should be based on several things, first and foremost is that you should never be investing money that you can't afford to lose, meaning don't go about taking loans and credits just to invest, because it is a risky business and you might lose it, second of all what is you goal and what are you trying to get out of investing, are looking for long term investment or short term, and if you are just looking to actively trade it or just invest and leave it, in my experience if you are going to invest a small amount like 30$ you would have to be actively trading it , because lets say you bought it now and bitcoin goes up to 100k , you would only have made 70$, but lets say if you invested 30$ and sold and bought based on market prices you could grow that amount.

FahriZah

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Oops It’s Totally Wrong With $30 Dollar starting in bitcoin and change your life at the moments it’s not possible because now 1 BTC Up-To $30k usd that means $30 value is penny and not possible gain with btc in future i suggest with $30 can buy penny alts coin is better.

Little_Sister

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Quote from: goldkingcoiner on April 19, 2023, 07:03:40 AM

That depends. Does the person with 30 dollars want to make more money in the near future or does he need the 30 dollars right now for something important, like paying his bills or buying food?

If the 30 dollars are completely unneeded and can be invested then he is wasting time by not buying Bitcoin and letting that Bitcoin sit in his wallet for at least a few years.

Realistically he could see that 30 dollars become 300 dollars within a couple of years. Maybe even less, depending on how well the market is doing and what kind of adoption rate Bitcoin is experiencing.

Either way, not investing in Bitcoin is definitely a lost opportunity, from my perspective. 30 Dollars definitely is not below the minimum amount you can invest.

You are right, the investment amount of $30 is not below the minimum value for beginners who want to invest in bitcoin, because it is useless for you to invest $1000 even higher if you do not have a strategy and knowledge of market performance, so make sure the investment money is not money needed for shopping and other needs , So make sure $30 amount for long term investment for high profit and you have to be patient enough to buy BTC at lower price during market correction so you will get higher profit in future.

Josefjix

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Quote from: bettercrypto on April 25, 2023, 06:16:52 PM

Of course it is possible for a start, and if you can make it grow by at least 1$ a day or more because the trading fee is also small and it depends on the exchange you use. it means you are good at trading activity and you have knowledge of cryptocurrency.

Just don't take a risk if you know how to avoid wasting the money you put in there, because whether your capital is small or large,
we should appreciate it.

Taking risks has become a daily practice for consistent traders, and some even go so far as to increase their lotsize in order to quadruple their trading money. Generating money in trading is simple if you follow 80% accurate fundamental or technical analysis. Trading is risky; even professional traders lose money. $30 is a fair amount to begin trading bitcoin; however, considering it is a cryptocurrency, one must exercise extreme caution when placing trades. Risk management is another component that contributes to effective support for traders and decreases trading account liquidation.

Easteregg69

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Make it 60 per month. If you can afford it. 60 on ADA and 60 on BTC. Ada for purchases. BTC for store of value. Your pension fund.

Trevon says 10 dollars per week if you don't want to work next year.

summonerrk

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Quote from: bettercrypto on April 25, 2023, 06:16:52 PM

Of course it is possible for a start, and if you can make it grow by at least 1$ a day or more because the trading fee is also small and it depends on the exchange you use. it means you are good at trading activity and you have knowledge of cryptocurrency.

Just don't take a risk if you know how to avoid wasting the money you put in there, because whether your capital is small or large,
we should appreciate it.

As a percentage, increasing $30 per dollar per day is a lot. That's three percent a day. It is better to earn at least another hundred dollars on the forum, and then try to increase this amount as a percentage.
There is a golden rule that small amounts need to be increased by arithmetic progression (just adding money by earning fiat, on the forum, etc.), but large amounts - by geometric progression (trading, deposits, and everything that increases the amount multiplied by a percentage). Then it all makes the most sense.

nullama

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Quote from: bettercrypto on April 25, 2023, 06:16:52 PM

Of course it is possible for a start, and if you can make it grow by at least 1$ a day or more because the trading fee is also small and it depends on the exchange you use. it means you are good at trading activity and you have knowledge of cryptocurrency.

Just don't take a risk if you know how to avoid wasting the money you put in there, because whether your capital is small or large,
we should appreciate it.

Selling Bitcoin for fiat doesn't make too much sense to me, unless you're using fiat as an intermediary to buy something "real", like a house, etc.

Fiat itself is not a great form of money, so it would be better to just keep it as Bitcoin until you need it.

bettercrypto

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Of course it is possible for a start, and if you can make it grow by at least 1$ a day or more because the trading fee is also small and it depends on the exchange you use. it means you are good at trading activity and you have knowledge of cryptocurrency.

Just don't take a risk if you know how to avoid wasting the money you put in there, because whether your capital is small or large,
we should appreciate it.

ZAINmalik75

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Quote from: Renampun on April 25, 2023, 06:25:06 AM

I see your suggestion is good. people who start investing in Bitcoin with small capital will only get small profits too, conversely, those who invest with large capital will get big profits too, but you don't explain that Bitcoin won't make someone rich in 1 night. btw, I'm already wary of giving advice to people who only invest small money in bitcoin, most of them hope to make 1 million dollars by just buying $50 worth of bitcoin LOL

I have believed every one having his own view and mindset because for me still investing $30 in bitcoin is good because if we keep going with our predictions and have sometime for checking charts this can go better in few months with the view of bitcoin nature is unpredictable but if someone wants to invest for long time this is still good idea even it's not making him rich but still can give better profit which can solve his issues and also can help in real life for many other problems as well.

Bitcoin is future no one having doubt about this all with the latest updates and technology things looking much better and surely these small investments will also have worth for investors but still I will recommend if someone wants to investment he needs to read all plus and negative points of bitcoin and its investments as well.

Renampun

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Quote from: Godlovesyou on April 19, 2023, 02:15:09 AM

Someone ask me a question after introducing bitcoin to him, if he can start up with $30 and grow with it but I told him bitcoin is wide and high in volume, price and market, that's means whatever you're starting with determine the outcome of the market like for example; if you start with $30 and eventually the market goes up to a little increase of $32 can not be compared with someone who started same time with you, at the rate $100.

So also when the market is down to some extent, the person with $30 may likely loss more because of the money is small. Blockchain has the minimum amount one can invest if am not mistaken but if your amount is too small may be difficult to make easy progress.

What do you think about my advised to him?

I see your suggestion is good. people who start investing in Bitcoin with small capital will only get small profits too, conversely, those who invest with large capital will get big profits too, but you don't explain that Bitcoin won't make someone rich in 1 night. btw, I'm already wary of giving advice to people who only invest small money in bitcoin, most of them hope to make 1 million dollars by just buying $50 worth of bitcoin LOL

Twentyonepaylots

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Quote from: DeathAngel on April 24, 2023, 05:02:11 PM

$30 isn’t going to make him rich, investing in bitcoin. It’s 2023 now, not 2010.

Investing $30 in bitcoin is better than leaving $30 in his fiat bank savings account with 1% interest or whatever crap rates they offer these days.

$30 is a very small amount but it’s a start I guess. Tell him to dollar cost average into bitcoin every month he gets paid, it’ll soon build up.

Indeed. You have to start somewhere or in this case, starting with certain amount that is regardless of whether it is small, it is still a step forward on having investment in bitcoin. As long as that amount of money is the one you are willing to risk, then do so, it is still better for it to be invested into something rather than be stuck on a bank account yielding to almost nothing in return. At least, with this investment you can see that it has potential to grow and would motivate you to invest more that is within your risk tolerance in regards with your money.

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Quote from: DeathAngel on April 24, 2023, 05:02:11 PM

$30 isn’t going to make him rich, investing in bitcoin. It’s 2023 now, not 2010.

Investing $30 in bitcoin is better than leaving $30 in his fiat bank savings account with 1% interest or whatever crap rates they offer these days.

$30 is a very small amount but it’s a start I guess. Tell him to dollar cost average into bitcoin every month he gets paid, it’ll soon build up.

All great things started small. It's better to keep that $30 in bitcoin rather than in a bank. There are cases wherein the bank charges you for maintenance fees and all that stuff that they should have paid for themselves. I once lost $100+ to fees that I paid to the bank without me knowing what those fees are for. Tried asking them to cancel those but just told me that those cannot be overturned because it has been a few months since those charges appeared. While there are banks that do not do these, I know that most would, in a heartbeat.

It's like robbery in daylight, except that the robbers are legally allowed to take what you have. At least in bitcoin, the fluctuations may sometimes be in your favor, and it will always be as long as you do not try and sell at a loss.

imamusma

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Quote from: Reatim on April 25, 2023, 02:57:13 AM

i cannot deny the fact that I even start investing in crypto(not bitcoin specifically because altcoin is my first coin) amounting small amount lol as much as 20$ that time if I am not mistaken.
but now look at how much I am holding, that my coins are valuing enough for my family needs in case there is a big problem happens in future.
so let it be guys, invest the smallest amount you can afford to lose.

I honestly don't know what country you're from, I mean do you know what the $20 exchange rate is if you convert it to my country's official fiat? $20 is IDR 296,900 which is probably quite a fair amount to cover 1-2 days of needs for non-formal workers. That to me is a decent amount of money to invest into bitcoin to start with, and when they have a bigger budget then of course you can accumulate more whenever you want.

It doesn't matter what budget you have because investing is not always about how much you have but sometimes how consistently you do it when you want to earn something in the long term. It's better to start with a small budget to be big than to start with a large budget to be small.

Ptb73

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You can start investing with any amount, it's not a problem. It's just that the more you invest, the more profit you can get.
I think it's okay to start with a small amount in order to gain more experience and knowledge. Perhaps in the future this person will have more free funds and he will already understand crypto.

Reatim

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Quote from: YUriy1991 on April 25, 2023, 02:23:19 AM

Quote from: siedemtrzy on April 19, 2023, 03:25:41 AM

I think if you want you can start investing in Bitcoin $30 is a good start, I invested around $50 for the first time. If someone can't buy much DCA is the best strategy IMO.

Of course! It is always a smart move to start small is always a wise choice, and investing $30 in Bitcoin can be a good way to jump in the water. Investing $50 like you did can also be a great start. Dollar cost averaging (DCA) is a great strategy for those who can't afford to invest large amounts of money at one time.

I think this is also good because it is one of those strategies where one invests a fixed amount at regular intervals to smooth out the ups and downs of the market and if one does have some other cold money that doesn't interfere with daily spending it can be used as an additional investment.

i cannot deny the fact that I even start investing in crypto(not bitcoin specifically because altcoin is my first coin) amounting small amount lol as much as 20$ that time if I am not mistaken.
but now look at how much I am holding, that my coins are valuing enough for my family needs in case there is a big problem happens in future.
so let it be guys, invest the smallest amount you can afford to lose.

peter0425

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Quote from: Godlovesyou on April 19, 2023, 02:15:09 AM

What do you think about my advised to him?

You have already told him enough mate because you have pointed what is important for him to understand that there is no certainties here in crypto investments specially
in bitcoin that is very volatile and also the target of all FUD .
but if you wanted to extend your advises?
then better to tell him that He must be ready to keep that Bitcoin for long term instead of short term.
since he is only depositing 30 dollars meaning this is just a start up right?
or at least dry running of His plans inc rypto world.

understand and learn the graphs and he will find how it goes

YUriy1991

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Quote from: siedemtrzy on April 19, 2023, 03:25:41 AM

I think if you want you can start investing in Bitcoin $30 is a good start, I invested around $50 for the first time. If someone can't buy much DCA is the best strategy IMO.

Of course! It is always a smart move to start small is always a wise choice, and investing $30 in Bitcoin can be a good way to jump in the water. Investing $50 like you did can also be a great start. Dollar cost averaging (DCA) is a great strategy for those who can't afford to invest large amounts of money at one time.

I think this is also good because it is one of those strategies where one invests a fixed amount at regular intervals to smooth out the ups and downs of the market and if one does have some other cold money that doesn't interfere with daily spending it can be used as an additional investment.

Nheer

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Quote from: Godlovesyou on April 19, 2023, 02:15:09 AM

Someone ask me a question after introducing bitcoin to him, if he can start up with $30 and grow with it but I told him bitcoin is wide and high in volume, price and market, that's means whatever you're starting with determine the outcome of the market like for example; if you start with $30 and eventually the market goes up to a little increase of $32 can not be compared with someone who started same time with you, at the rate $100.

We have seen cases where people start with little investment and were able to make good profits from it, so its not dependent on the amount you start with but the most important thing is you are in possession of bitcoin (the future). There is popular saying that goes “Don’t invest what you can’t afford to loose”. A starter might not want to invest big from the beginning but as time goes on and as his knowledge about bitcoin widens he would want to invest more and the best part is he can always invest more and more anytime he feels the need and gradually his investment will grow. DCA is ideal for folks who are hesitant to make large investments at once.

The amount you begin investing impacts both the percentage of profit you make when the market is rising as well as the percentage of your loss when the market is falling.

Quote from: Godlovesyou on April 19, 2023, 02:15:09 AM

What do you think about my advised to him?

I suggest you just let him invest an amount the seems right for him so he won’t end up thinking about his investment and always checking charts of bitcoin price. He can always start small and after some time he can keep topping up his investment.

Topic: Is $30 dollars worth starting bitcoin? - page 3. (Read 1178 times)