Is $30 dollars worth starting bitcoin? - page 8.

akuntester1

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 AM

What do you think about my advised to him?

For someone who just wants to start trying to invest in Bitcoin, of course, $30 I don't think is wrong. I think for some people in countries that have a lower fiat value, $ 30 is quite large.
But you are right if we only expect $30 of course it will take a very long time to get a big profit for investing in Bitcoin.
Maybe if he is interested and wants to continue you should be able to encourage and help him to introduce more knowledge about Bitcoins. Even though there is a high risk, in my opinion we should be able to see good opportunities and follow existing developments such as investing in Bitcoin.
The most important thing, in my opinion, is that he can increase his previous knowledge about investing in Bitcoin, for the matter of investing capital it can be improved over time.
Indirectly he already knows Bitcoin through your explanation, even though he still knows a little about Bitcoin I only hope that in the future he will not be among those who regret it like most people who already know Bitcoin but don't immediately invest in it and it turns out that Bitcoin increases in value over time.

panganib999

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In my opinion, yes. And I know a lot of people will agree with me. A good amount of people in this forum started with "laughable" amounts of savings when we started investing in bitcoin. It only boiled down on how long we're willing to hold the coin for a better profit potential, as well as how much are we willing to put into our initial investment to further increase our potential profits. Honestly speaking, $30 dollars in today's bitcoin economy wouldn't really do you much, so you're better off learning about DCA (Dollar Cost Averaging) to maximize your profit potential. It's not that hard to learn anyway. And DCA, when done on a coin with a positive uptrend like bitcoin, will always guarantee you bigger profits.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

It is true that 30 dollar is a small amount for investing on bitcoin but I think it is still worthable. In my opinion I think for the beginning of trading or testing I think 10 dollar usd can be also worth . But in this case if anyone invest that much amount on Bitcoin then the profit will also come as the value very likely so small. But for those who are new to trading, my suggestion would be to start with a small amount of investment Since there can be a lot of mistakes from the beginning, it is better not to go for the first big fund investment, but if one wants to make a bitcoin investment for the purpose of earning good profit, then he must raise the fund.

drwhobox

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Quote from: nimogsm on April 19, 2023, 04:31:14 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.

I don't think it is enough but it is good for starting investing in bitcoin. Later the amount can be increased time to time but if you really want to start with bitcoin any amount is good unless you can cover the fees of transaction.

Rigon

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

A $30 bitcoin investment is huge for a newbie. If he starts investing with many dollars of Bitcoin in the first place and if he loses there, his confidence in his investment will be lost and hatred will come. Even though his small $30 investment won't bring any profit, I'd say this $30 investment to learn will teach him a much bigger investment lesson. But I applaud his decision. He should invest slowly from here and become a very big investor.

nimogsm

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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.

Cryptomiles1

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First, as a bitcoiner who teaches people about bitcoin, if you had such question the best you could answer them is to say "Yes" because to me whatever investment you make or do is subjected to what the results may be. Let say for instance, if someone invested with a sum of $30 @27k per bitcoin and the price increases to $50k per bitcoin.
This is to say:-
$30 BTC at $27k is ~0.0011BTC
Then bitcoin increases to $50k x 0.0011 = $55 (~0.00203BTC) which is ~25 percent profits of his investment, the increase is very much encouraging and is worth investing depending on the risk level of the individuals. Meaning if they could accepts the risk to invest more than that then the could get the increase as well when the markets seems to be good.

Frankolala

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You can invest on bitcoin with any amount,you don't need to be rich or have so much before you can invest. $30 is a good start to use for the purchase of bitcoin. I hope that you told him the basic concept of bitcoin and that it is not a get rich quick investment. I guess you didn't, you only told him about making profit and that was why he asked you this question.

The purpose of bitcoin is to be used as an alternative method of payment, for it to bypass authorities by using P2P payment system. Making profit from bitcoin shouldn't be what we are to tell newbies because they might be mislead with the anxiety of making big money from bitcoin,which they might end up being disappointed at the end of the day.

Tell him he can invest with $30 but he needs to keep on buying more bitcoin regular if he can,and if he can't let him not border about the profit and think on how to keep his investment for a long term. What matters is that he will have bitcoin investment,which has made him part of the bitcoin community.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

Very bad advise in my opinion. You can buy as little as you want, you're pretty much scaring your friend away from bitcoin, that's really the worst thing to can do to someone. It would have been way better explain how bitcoin works and telling him to buy a small amount to get used to all the process involved: exchange registration, how to withdraw, how to save the seed, what wallet to use, etc etc.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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 say this is a perfect amount to start with especially for a beginner. It is low risk and to me sounds like an amount that someone can afford to lose and not get troubled over. I am glad that you pointed out that two possibilities - Bull and bear market. So the person is going into the bitcoin with the right mindset. I was hoping to read that you also explained the part of how he should keep his coins secured after purchase by using a secure digital wallet. Well, I guess you'd still bring that up with him.

aryana42

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That is too little amount to profit from bitcoin. I mean, you can still invest 30$ in bitcoin because there is no limit to invest in bitcoin. But don't expect to make big profits with that little money. If you want big profit with small capital then think shitcoin, but the risk is you can lose that $30 too.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 AM

So also when the market is down to some extent, the person with $30 may likely loss more because of the money is small.

In terms of percentage, when the market goes down 10%, a person with $300,000 and a person with $30 will both lose 10%. People with lower portfolios will not lose a larger or lesser percentage.

Quote from: Godlovesyou on April 19, 2023, 01:15:09 AM

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.

The minimum amount you need is to cover network fees, which are generally less than $0.5-$1 even with medium-high network activity nowadays. Yes, it might be difficult to make progress in terms of market value. That is not the purpose of Bitcoin though. The purpose is to store value and to be able to send instantly, anywhere, any time.

Quote from: Godlovesyou on April 19, 2023, 01:15:09 AM

What do you think about my advised to him?

You should be encouraging to buy small amounts that are within his means constantly as an alternative to depositing money into a savings account or a traditional investment like stocks, rather than talking about the market and hinting that "you need more to make more". Focus more about education and purpose rather than the market. The market only validates Bitcoin's value over time, it shouldn't be the sole reason that someone purchases Bitcoin.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

Starting with bitcoin with 30$ is not a bad start, but to get bigger profits and make more money in the future, you need to find a way to replenish your capital. And if you only invest once with only 30$ and want to become rich, then I recommend you give up that intention in the first place. Bitcoin is neither a get-rich-quick tool nor a tool that can get you rich with just a small amount of money. If you want to get rich with just $30, think memecoins, shitcoins.

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In my opinion $30 is not enough to invest in Bitcoin. I would suggest using this amount to try transactions and become familiar with setting up fees and other stuffs related to your bitcoin for testing purposes. However, it is not enough of money that would generate a a decent profit in the future. Bitcoin's current price is already around $30k, which is x1000 times the amount your friend intends to invest. Therefore, investing such a small amount would not result in a substantial return on investment in the long run.

I would like to say that even if Bitcoin's price were to increase a lot, let's say to $60k, your friend would only make a profit of $30, which is not a lot to be honest, so just let him think of it like that... I would suggest advising your friend to buy Bitcoin regularly, maybe every week or every 2-weeks. By doing this, he can potentially make a decent profit over the course of a year or more. It's a good idea to allocate a small percentage of his salary for this purpose.

1. You won't feel it a lot (as there's no impact in your day to day life)
2. Over time, the investment can hugely grow and you'll be surprised of how much money you'll make from this investment in couple years (only if he's patient and not touching them)

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Quote from: Oneandpure on April 19, 2023, 07:13:49 AM

Correct me if wrong, seems $30 is not really worth for investing in Bitcoin on current price because need more higher price later in want earn much profit from OP amount investment. I think $30 is worth for investing in shit coins, however today and last day have hype with ArbDoge coins pump drastically more than 300% without one week.

Today have another coins hype with PEPE coin but not really recommended investing right now on both coins because have reached higher price, I don't recommended without risk when investing in shit coins but have worth and faster profit returning than you invest in Bitcoin with amount $30, its not mistake starting invest in Bitcoin with 30$ but need more patience waiting more than longer time to get profit than investing in shit coins.

It is better to invest in bitcoin with a long time than with shitcoin, why do you suggest this? This shitcoin has been pumped very high if he enters by investing $ 30 for example then it is the same as suicide because shitcoin will eventually fall and will not get back up, the OP is asking this because he wants to start it so there is no need to suggest on shitcoin you plunged into the wrong coin.

A coin that is being hyped means it is being pumped massively there is a possibility that behind the increase is the manipulation of the people behind so as to attract other investors, and typing high prices and then being dumped then it is a painful thing so don't be tempted because get rich quick in time this instant does not exist purely because after all the investment needs a process.

But if the OP's friend starts on bitcoin then the risk is very low than shitcoin, and he can also accumulate his investment every time when there is extra money.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

As long you can afford to lose that amount in the first place then go for it. There is no ideal amount that you can buy and hold Bitcoin even for just 5 bucks.

Just like in my previous posts, we are not financial or investment advisors here. You just disclose to him that Bitcoin does not offer any promises or astronomical guaranteed returns as the market movement is decided by the buyers and sellers.

The price is very unpredictable and it can go up or down at any moment without warning.

ethereumhunter

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Starting investing in bitcoin using $30 is enough for a beginner while he learns more about bitcoin. And it will be even better if he doesn't stop investing and keeps buying more bitcoins in every correction because it will increase his bitcoin amount.

Investing in bitcoin is long-term, so if he can consistently use $30 to invest and do it regularly, that should be enough for him. He could earn huge profits in the future.

suzanne5223

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amount invested in Bitcoin now that don't worthwhile especially now that the market is yet to reach a new ATH price. Like you said the market-wide and it's also a roller coaster either. The advice you give the person could push him off the edge if the person doesn't know about the use of DCA.
The market doesn't have a minimum amount you can invest, it was the CEX and some DEX that introduce the minimum amount for their own selfish reason.
In the meantime, you need to teach the person how to secure his/her investment.

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Quote from: Godlovesyou on April 19, 2023, 01:15:09 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?

Starting of $30 is good though but you can't stop with $30 forever, the investment should be periodic and consistent so let's say someone invest $30 every month on Bitcoin then they can potentially reach the status called rich in long term. But you can't withdraw $30 everytime from exchange cause the withdrawal fee itself will be around 20 to 25 so yoy just have to go with exchange wallet only or else do it via p2p.

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It's a very good start, if this is all he can afford from time to time it's a very good beginning, and in a matter of time your bag will grow, remember that a little drop of water can make a mighty ocean, it will take time but it's doable.

He needs to start learning while accumulating Bitcoin all the way, he also needs to have lots of patience, lower your expectations too because with 30$ investment on Bitcoin, it will look like you aren't getting anywhere.

If Bitcoin becomes double right now you will have 60$ worth of Bitcoin, it's going to take time to start seeing impressive gains so work more on adding the 30$ maybe in every two weeks or so.

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