Topic: Is $30 dollars worth starting bitcoin? - page 6. (Read 1227 times)

This is a pretty good point, actually it doesn't really matter how much you can afford to invest, but the bigger the investment, the more likely the condition is that the bigger the profit you will get.
But in this case for beginners it seems quite clear that being at the starting point where to start is quite good because the first thing you see is not the advantages but experience and of course with that you can have something new to learn further.

I have come and cross these questions from my friends that I told about Bitcoin investment and trading and other alt-coins, which is simply means the higher the amount of money you invest and the higher of the profits return, like wise the anticlockwise part, that of the market after buying and the market dip, that is how the lost. Therefore entry point matter a lot in cryptocurrency trading or investment.

Your advice is good but you need to consider his level of understanding as regarding cryptocurrency and Blockchain, this is to avoid loosing beyond what he can afford as a newbie. First time investors tend to fomo when the price is going down. Starting with a money he can afford to loose can put him on the part to understanding the concept, working mechanism and the dynamism of the crypto market. As first time investor, his goal should not be profit oriented. From point of view, I suggest he start that amount of money to learn, after gaining knowledge he can proceed to invest with hundreds to thousands of money. 

What you need to remember friends is that you don't have to be rich to invest in Bitcoin or other digital assets. As a decentralized type of asset, Bitcoin gives your friends from various backgrounds the opportunity to participate regardless of their capital. However, it is important to remember that investing in Bitcoin, like investing in any other type of asset, carries risks and must be undertaken with caution. With a capital of $ 30 I think it's good to do with DCA ie pay in installments every week or month if he has more capital.

Because Bitcoin was not designed for get-rich-quick investment purposes. Instead, the main purpose of Bitcoin is as a decentralized and secure alternative payment method. However, investing in Bitcoin can provide significant profit potential in the long term, especially if your friend is willing to stick with his investment for a long period of time.

So, to answer your friend's question about investing in Bitcoin with small capital, I would advise him to consider factors such as risk and investment goals before deciding to invest in Bitcoin. In addition, I will emphasize the importance of conducting research and developments regarding Bitcoin, as well as investment strategies that can help increase the chances of long-term profits.

Initially, the amount of your investment isn't crucial, even if it's less than $30. Becoming a Bitcoin investor doesn't require a specific amount to be invested. The key point is that investing a small amount can enable you to gain knowledge about Bitcoin. Once you understand how Bitcoin works and how effortless it is to transfer funds without a third party, you may feel inspired. If someone asks you about Bitcoin, it's advisable to encourage them to learn more about it.

Well, @OP had stated that his friend won't get a huge profit from his investment unless he allocated bigger funds.  But for a starter, a $30 as initial amount to buy Bitcoin isn't a bad move especially when the plan is to accumulate or DCA Bitcoin while waiting for the market to surge or planning to buy Bitcoin continuously for two halving events.


The thing is Bitcoin market is cyclical, so it is a waste to take advantage of the Bitcoin market opportunity when it opens a window for market entry.  Aside from that, although Bitcoin is a hot thing, its market and industry is still young and has a lot of room to grow.  Saying that, ignoring Bitcoin because it is currently a hot thing is like wasting profitable opportunity.  I can get your point but Bitcoin market is very different from shitcoin market.  Shitcoin market tends to get hot then dump to oblivion.  Bitcoin market is not like that.

The simple answer is yes.
One can start his or her cryptocurrency or maybe Bitcoin journey with relatively a very small capital as low as 5 dollar on centralized exchanges but I don't think that will be possible on decentralized wallets that might require upto 10 or be 20 dollars inclusive of the transaction fees and maybe some hidden charges but he shouldn't be expecting to make same profits as that of someone with a much more higher profit.

I agree with the more profit but I think someone with a relatively small capital might easily get liquidated than some with a much more higher capital if the price drops.

Well, you are wrong, and this is because your advice is not clear enough, and also not exactly the truth.

And simple, yet a straight forward self explanatory advice would have been "the more money invested, the more profit you make if you assets increased in price, likewise, the more money you are likely to lose if the price of the asset drops", but also remember that even if the asset price drops, you are not in lose, until you sell, this simply means that, as long as you keep holding, there is always a chance that the asset price will recover and yield profit for the holdler.

More money invested in bitcoin will mean more supposed loss, if the price of bitcoin drops,
So also, more money invested in bitcoin will mean more profit, if the price of bitcoin increases.

Is this a serious question? Cmon guys, bitcoin is a hot thing right now with a huge market capitalization, how can one expect to see dramatic gains via such a small amount of money? It's not 2010, it's not 2016, it's 2023. Even the 2020 year was nothing special for bitcoin in terms of % gains and with such a huge market capitalization and with such a huge price, I hope your friend doesn't think that he will turn his $30 into $30 000 with the help of bitcoin.
Never chase a hot thing, once something gets super popular, that's not that much profitable anymore! Altcoins have potential, for example coin called Matic had a dramatic progress in 2020, it easily gained more than 100x of it's first price.

I don't think this is right. Anyone can start their journey at any amount of money with Bitcoin. But they need to have the will to hodl for a long time. Yes, the market is facing some tough time. But it will be back to its former glory again. If they have the right mindset to think like this, then they are good to go with any amount of money. Also they can add to the investment little by little.
So I guess you need to know a bit too. This is just what I think. You can have your own opinion. And I respect that too. But you need to start your journey. And many advice that you start low and work your way up to the leaderboard. So your advice has some flaws.

Bitcoin's beauty lies in its ability to allow you to purchase some sats, regardless of how much one BTC is worth. but when it comes to the term of investment strategy, it is challenging to earn significant profits unless you acquire a considerable amount of BTC especially as the current price of BTC is so high, it may be difficult for an average person to afford it.

What I will advise your friend to do is that, he should try and increase the money to $100 even if he is not financially capable, it may be too small for some people but I think that is reasonable enough for some good profits when Bitcoin goes up in value and since BTC is more safer than altcoins, I will prefer he sticks to Bitcoin with his small amount and gains something tomorrow than lose everything on shitcoins.

For 30$ he can start trading in crypto. It's just that the process of its growth takes a long time and it depends on the idea and knowledge that he has for it.

Unless he is deeply experienced in this crypto trading dude, but if this is a newbie, maybe that is good as an introduction and training in trading here. Because you know that trading in this field is not really that easy to say that you can grow your capital immediately, of course, that is not the case because the market here is unpredictable and that is because of volatility.

you probably didn’t understand what I wrote. I wrote further that he needs to replenish his wallet further and not continue to keep the same amount. It’s also clear that if you have only $ 30, then in two years his balance will not grow much .Therefore, you need to replenish by more significant amounts, if possible, in order to increase your capital.

As with people who are trying to make investment turnover at relatively low numbers some of them are looking for investment knowledge and experience, starting with $ 30 is indeed a good start and more appropriate later they can continue to put aside a little to try to increase and this may be a follow-up when he has started to invest, although in a small quantity we feel is a good start for him to start with.

No, I think you took it wrong, in the loss scenario because when you enter the market with less money you book profit and loss according to the volume of your capital money, Unlike you said, "the person with $30 may likely loss more". For your convenience, let's take an example if you or your friend invested $30 dollars in BTC for the long term (bought at current price) which makes your BTC of around. 0.0010 BTC. Let's say in the long run BTC touches ATH of $100,000 in a few months then your friend will make a profit of $70 dollars on $30 dollars (total $100 dollars). Which i think is just too less because i am not seeing BTC to touch its ATH in this year, maybe it will set its ATH in the next 4 years' cycle halving maybe.

While, let's say BTC went to $10,000 dollars in the month then your friend will take a loss of $20 dollars, but still, one thing is confirmed in spot trading of BTC, That your friend will not lose his/her all capital because chances of going BTC to 10,000$ are so impossible But this is crypto which is the name of volatility. I will advise him to use those $30 dollars in future trading but I personally do not perform future trading and also do not recommend others because it's so risky, But he can start spot trading (day trading or swing trading) by making an entry in the market when the right time will come. Like, he should wait for the right time, even if he has to wait for days, because without a future, and less money only the right time strategy will do the work.

Depending on the circumstance, I will either reply yes or no. If you only have $30, are a full-time student, have no other income, or make a meager $50 per month, I wouldn't recommend investing in bitcoin because you won't see a good return. Better still, put that money toward developing new skills that will help you land a better career. I don't think it makes sense to bet $30 that you'll get a high return because you have to pay withdrawal and trading fees.

You don't make too much sense. If Bitcoin drops by 10%, you lose 10% of the value of your coins, so despite the amount you're holding, $100, you lose $10 in value. How does that alter when the amount is different? Same thing goes for when it rises in value. It's actually the opposite of what you said—you don't actually lose much on small amounts, but you can't gain much in profit either. There's no reason to have a minimum limit on blockchain purchases; nor is it possible; exchanges already have a minimum purchase. Starting small is fine, but you can't expect to achieve great results by acquiring $30 worth of bitcoin every month.

There is no problem with starting with small amount of money but make sure that you will have an average level of expectation because there are some beginners out there who thinking what they will buy in the future after they make profit from their $20 investment. This is the kind of situtation that we should avoid, there is no problem on starting a money $100 or below and the only problem that I saw is high expectation of the people from their small investment. Remember that in investing world, you are using your money to create more money meaning that the rewards that you have depends on what you put.

My suggestion is start small, build slowly with consistency then if you have spare money put it in your investment wallet if you want to reap the rewards in the future. In this way you can build your portfolio and you can maximize the rewards because your capital is increasing. Also be aware that you should manage your risk very well and always check your psychology because it is the one who helps you to make decision that can help you to achieve your financial goals.

Your advice seems reasonable. It is important to understand that the cryptocurrency market is highly volatile and unpredictable, and the amount of money you invest can greatly affect your potential gains or losses.

Starting with a small amount like $30 may limit your ability to make significant progress, but it is still possible to invest in cryptocurrency with a small amount of money. It is important to do your research and understand the risks involved before investing any amount of money in cryptocurrency.

If he plans to invest in bitcoin using $30 each time, that is a good plan, especially if he can regularly invest once a week, fortnightly or once a month.
It will increase the number of bitcoins every time he buys bitcoins at a time of price decline or correction and he can also get a decent profit when the bitcoin price increases.
But if he only buys bitcoins for $ 30 and that's just one time, I think the profit will not be too big compared to the method above.
You can advise him to buy bitcoins at every price correction because the price decreases and every purchase can get him more.