Is $30 dollars worth starting bitcoin? - page 7.

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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?

If this is not the last $30, with which he hopes to improve his financial situation through bitcoin, but just a small amount that he does not mind spending out of interest, then it is quite normal to start with such a small amount. When it's not just an abstract bitcoin, but some amount of satoshi in your own address, learning about bitcoin becomes much more exciting. More expectations that he will understand this in more depth and detail. So I think it's a great start: on the one hand, he won't be too upset when a bearish trend, and on the other hand, it's enough to generate interest.

livingfree

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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?

Do not be confused with investing in bitcoin and saying that one has a minimum amount to invest in blockchain. We can invest in bitcoin but blockchain is tech behind bitcoin. Although technically speaking we're also investing in blockchain as bitcoin per se but IMHO, it's better to separate the two.

It's okay to start small, everyone started small until it became bigger. As a newbie, $30 is a worth it investment for him and that's a good initiative and start already.

Let him enjoy the ride and let him decide if he's up to the challenge of bitcoin's volatility and have him want more eventually.

bakasabo

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I think it does not matter what is the amount of investment in the start, because an investment is already a huge step towards profit. I think that the smaller investment is, the easier it will be to hold it. A person wont be worried much about price changes during first years. Small investment only can cause small difficulties, such as transaction fees. For example if a person buy $5 Bitcoin on an exchange or directly in a wallet, transaction fee can take half of his investment.

humanvelocity

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You could totally get started with just 30$ or even as little as 5$, I think majority of us here have all started with less than 100$ at somepoint. What is important though is don’t get discouraged when your 30$ don’t turn into 30000$ overnight. Bitcoin few years ago was so different and versatile compared to what it is today. Goodluck and wish you the very to get started

Shan85

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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.

If you are investing a small amount of $30 in Bitcoin your chances of gains profit might be limited as compared to someone who invests more $100. Also if the market goes down you lose more money with a smaller investment. The blockchain platforms may have minimum investment requirements so it could be challenging to make effective progress with a very small amount of money. It is important to understand the risks and limitations of investing in Bitcoin with a small amount of money. but overall you get an experience by investing in bitcoin.

inthelongrun

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$30 is not a lot of money although it's not bad for a starting capital for a newbie that is still learning. Sooner or later, that person will be knowledgeable enough and knows what is next for him. Is he going to add little by little or is it better to start a simple business in real life with a small capital?

But if that person only has $30 as his only savings, then better to tell him to start looking for another source of income because $30 is not going to make him rich. Maybe you can tell him the potential earning of leverage trading and he might get interested and study thoroughly how to profit from it. But it is indeed very very risky, especially for a newbie.

bayu7adi

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

What do you think about my advised to him?

If someone decides to buy Bitcoin with a small amount like $30, it is advisable to guide them in learning how Bitcoin works. This way, they will know how to gain profits when the market is bullish without worrying too much about losing the $30. In addition, some important lessons like financial management, risk management, investment strategies, and other financial knowledge should also be learned by an investor. To avoid overwhelming the mind, the knowledge can be given little by little.

Aside from understanding how Bitcoin works and its technology, learning technical and fundamental analysis is also crucial to maximizing profits when investing in Bitcoin. From these lessons, people will start thinking about how they can invest with a larger capital and whether Bitcoin is suitable for them or not.

borovichok

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Quote from: 348Judah on April 20, 2023, 01:33:58 AM

We can start bitcoin investment at any level base on our financial strength or capacity, we should also be mindful that it doesn't ended with investing alone, but we must safeguard our asset against any form of attacks to help us prevent loss, we also need to take caution with how we handles the security of our assets, the exchange we use and wallet type that help store our bitcoin whenever we are holding them for long.

Determination and discipline is what keeps me going in the market, I've encountered several losses but always get back to my heel before I have a target I need to achieved. There are traders that believe that they need hugh funds before they can be successful in trading, but the main factor is to start small, and watch our accounts flipped to bigger size. $30 can be flipped into a grand depending on the trading strategy used and we ought to know the basis of the market before trading. We should take preventive measures inother to escape any sort of losses, because the market always goes against our mapping and if there's no presence of tight stop loss, liquidation occurs.

riantolie

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Quote from: Kakmakr on April 20, 2023, 01:28:01 AM

People do not actually "invest" in Bitcoin.... but they rather buy some Bitcoin to "use" or to hoard until the price increase and then to sell at a profit. It is a lot like "cash" ...with the difference that it is not widely accepted yet, but that can change soon.

You can buy any amount of Bitcoin, depending on what exchange you use, because many of these exchanges have minimum deposit limits, but if you can buy from someone else, then you can basically buy $1 worth of Bitcoin.... but the fees will not make it worth it. (If you want to buy lower amounts, I will suggest that you use the Lightning Network) Wink

You still might call that investment, it mostly depends on what exactly a person wants to do with Bitcoin. Especially if, as you said, to sell it at a profit.

Mr.suevie

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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?

There is always an advice on any investment which is always invest what you can afford or what your hands can get you. Bitcoin investment doesn't need to start with huge capitals like 1000 $ or more but its good if one can start with such because that will determine the capital you are going to get if actually the starts to pump but if its a 30$ investment you can always top it up with DCA investment strategy because it will reduce the stress of calculating how to get huge capital, you can easily just buy whenever there is little money to add up the investment capital and before you will realise the capital investment will have grown enough to be satisfied with.

348Judah

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We can start bitcoin investment at any level base on our financial strength or capacity, we should also be mindful that it doesn't ended with investing alone, but we must safeguard our asset against any form of attacks to help us prevent loss, we also need to take caution with how we handles the security of our assets, the exchange we use and wallet type that help store our bitcoin whenever we are holding them for long.

Kakmakr

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People do not actually "invest" in Bitcoin.... but they rather buy some Bitcoin to "use" or to hoard until the price increase and then to sell at a profit. It is a lot like "cash" ...with the difference that it is not widely accepted yet, but that can change soon.

You can buy any amount of Bitcoin, depending on what exchange you use, because many of these exchanges have minimum deposit limits, but if you can buy from someone else, then you can basically buy $1 worth of Bitcoin.... but the fees will not make it worth it. (If you want to buy lower amounts, I will suggest that you use the Lightning Network) Wink

Patrol69

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An initial investment of $30 can be a good start. It is especially useful for learning. Any investment is always good. Now you can afford to invest with 30 dollars so I don't see any backtracking here you can go ahead with your investment.

Investing is not just about getting information, investing must be put into action. Now start investing with $30 then increase your investment amount little by little. When you have more money, you invest that money directly in bitcoins. Thus, if you invest from the beginning and add investments periodically with that initial investment, you will eventually see that your investment amount has increased a lot. Welcome to this small start.

blue Snow

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

What do you think about my advised to him?

Good, but you forget to tell him about a patient. I am not sure he can't survive if the Bitcoin price dump suddenly and make his investment from $30 to $15. yes, it's happened to me with my brother when direct him to buy bitcoin on 2021, he was very enthusiastic before and bought Bitcoin with his savings. but in November 2022 he was panic after his investment down significantly to 50% and sold all bitcoin at the same time. Today he very regrets, and with his experience, he doesn't want to buy bitcoin again.

Iranus

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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?

When we first start investing, we don't need too much money, and 30$ for me is enough for a beginner. Let's start with the minimum capital to limit risk as well as use it to experience the market. But if you want to make more profit, want to become rich, you need some capital more than that $30 many times over. I mean, buy more bitcoins whenever you have more finance to invest. That way, and if you can accumulate bitcoins for a long time, your bitcoin holdings will increase significantly, and your profits will also be huge.

crypticj

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Of course. Any amount of money is a good beginning. If you want to succeed just keep investing USD in bitcoin in small parts periodically (DCA) and someday you will have a lot of money in BTC. Consistency is very important here.

And remember, don't invest more than you can afford to lose.

BitDane

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

What do you think about my advised to him?

It does not help him much instead you made him think to invest huge amount in one go. It is ok to start with $30 and accumulate from there. You should have mentioned the term dollar cost averaging or DCA in order for him not to misinterpret your suggestion as persuading him to invest huge amount of money.

Accumulating and buying Bitcoin regularly can help minimize the strain of buying BTC. Even though with little amount, the accumulation done in long term will end up in bigger stash of BTC with less financial pressure. Just like how a drop of water fill a huge container as time pass by.

Party24*7

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Quote from: nimogsm on April 19, 2023, 05:31:14 PM

Why not? This amount is enough to learn how to use Bitcoin at least in wallets. Learn how to create transactions and move your Satoshi. And a little later, you can systematically replenish your wallet and continue to make savings, and in a year or two the result will pleasantly surprise you, I have no doubts about this.

If you use it to learn how to use bitcoin then I think it's a perfect fit. But for only $30, and you expect the unexpected to happen in 2 years is the paranoia that I will tell you that will never happen. Even if you keep it for 10 years or more, $30 is just a small amount, and you can't expect to get rich with such a small amount.

nullama

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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?

Bitcoin is more of a way of life.

Think about it as savings, is it worth saving $30 today? If yes, then Bitcoin would be a better instrument to store that value than just the cash.

nesty

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A $30 can be use for starting up Bitcoin specially to the people who are new in investing. They could use to gain and learn more experience to see the market flow. With this $30 they could experience the volatility of the market it's either they will gain or loss. They are lucky if they will gain immediately and if that happens they should sell it on a high price and then invest again at a lower price. With that experience they will realize that the $30 investment is not enough to earn more profits.

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