Start with the little you have, you don't need millions of dollars to own BTC. - page 3.

Eternad

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Quote from: Promocodeudo on November 17, 2023, 04:08:51 AM

the only excuse an intending investor will tender that could make him or her not to invest in bitcoin, could just be income less than 10$ and more responsibilities, which I know that, this is not possible with people from the developed world, this excuses are mostly found in people who doesn't have much interest initially, the trust DCA is the best strategy to go gradually, this has helped many to achieve a lot in this industry.

Not all people has the guts to invest on volatile assets especially if they already have the job that secure their life financially. Only people that accepts volatility and live with are those who can afford investing on this kind asset since they knew what’s the possible consequence.

We can’t blame those who can’t invest on Bitcoin despite they are financially capable because that’s their choice of financial independence by relying only to their salary from work. We can’t convert the rest of non-Bitcoin investors to invest that’s why we are lucky to be here and enjoy the benefits of Bitcoin because we are not afraid on volatility.

Lida93

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Quote from: Silberman on November 16, 2023, 05:55:58 PM

Quote from: Gormicsta on November 16, 2023, 05:10:55 PM

Quote from: Lida93 on November 16, 2023, 04:43:12 PM

DCAing demands whatever amount you can use to add to your investment it mustn't be specific amount as in $100 each of the week or month as the case may be, but rather any amount ranging from $10,, $15, $20, $19, $30 on and on.

The concept of DCA couldn't be simplified any further than this, most people find it hard to DCA simply because they set a high weekly limits for themselves and along the line they realize that they're unable to maintain that set limit, and this might discourage them or probably make them just quite.
I always tell people who want to DCA to see it as saving up for something, getting a piggyvest/piggybank and throw in your savings there every day, week or month depending on how your income flow and plans are. It's really not difficult if you visualize it this way, rather than setting a high and specific DCA limit that you might likely not keep to. If you see it as saving up for an event you might just be surprised how much you've been able to realize in such a short period and before you know it, you've accumulated a quite quantity of Bitcoin in your investment.

What those people do not see is that maybe they could be able to maintain those high savings for a few weeks, but after that it is impossible to maintain such rhythm, in a way this is very similar to what we see when people want to lose weight, they set themselves impossible goals by trying to exercise every single day for a few hours while eating almost nothing, and while this could be done for a time, at some point your body will break and demand rest and a good nutrition, making impossible for them to achieve the goals they set for themselves.

Those that sets a high DCA limit for their Investment do so relying on their source of income flow their resolve is strong that they can meet up with the limit for as long as it takes but in the midway uncertainty may strike with circumstances beyond their control affecting their income flow making it impossible for them to muster up with the DCA limit they have set for their self.

And this can be discouraging especially when you have set a standard for yourself but can't meet up anymore, that's the more reason why we shouldn't set a limit as we start to DCA in accumulating bitcoin, just any amount available to use is fine, big or small amount isn't what's important, what's important is your dexterity to continuing DCA with any amount you can afford.
A little drops of water makes an ocean

KiaKia

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The problem is the transaction fee right now, right now it takes up to $7 as the minimal fee for Bitcoin transaction and we are not even in a bull market yet, so ridiculous. The best thing for those who can only afford $10 invest on Bitcoin is to save up the money first and when they money is up to $100 they can proceed and buy Bitcoin, at least there are still some time left, that's ten rounds of saving $10 to get to $100, that's not impossible.

I passed the same message to someone who contacted me online about Bitcoin investment and complained about the transaction fee, I also told him to keep an eye on mempool to know when the transaction fee gets cheaper, it's possible it will still become cheaper before the bull market gets back on again.

Since the value of Bitcoin increases any time it makes sense to invest when you have the money even if it seem small to your eye, remember that the $500 you held on waiting for it to get to $1000 before you invest can turn into $1000 if you just invest the $500 today, do not wait.

Sim_card

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This is what most newbies don't understand that they must not wait till thy have a big amount before they can start their bitcoin journey. The moment you can afford to budget 10% from your income and it wouldn't affect your daily expenses, you can start investing into bitcoin and buy regular with DCA method to help you expand your bitcoin portfolio. It should also be noted that you must be on a long term bitcoin accumulation goal to enable you make good profit from your bitcoin investment. As people in this present world with high rate of inflation and the depreciation of fiat, bitcoin investment is necessary for all, so that in the future we can have what to fall back to.

Quote from: Lida93 on November 16, 2023, 04:43:12 PM

Sticking to a specific amount before DCAing can make an investor miss the dip in the market that before he can make up to the specific amount the market price would have rised above the dip as it were

You don't need to wait to pile up a certain amount before you can use to DCA, it is good that you use the amount that will not affect your income to DCA regularly, so that even during the dip, you are still buying with that same amount, and I don't think that anyone using method will miss out during the dip, because your are buying irrespective of the price regularly.

Promocodeudo

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Bitcoin has made itself available for individuals to invest in it, is just that some people has failed to understand the strategy in which this digital currency exist, this different investment strategy has made me to know that bitcoin was carefully designed to be like that, so that it can accommodate the larger population of the world, the only excuse an intending investor will tender that could make him or her not to invest in bitcoin, could just be income less than 10$ and more responsibilities, which I know that, this is not possible with people from the developed world, this excuses are mostly found in people who doesn't have much interest initially, the trust DCA is the best strategy to go gradually, this has helped many to achieve a lot in this industry.

Strongkored

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Quote from: Franctoshi on November 16, 2023, 03:17:34 PM

Bitcoin is created in such a way that you can invest even with as little as $10.

Withdrawal fees from exchanges may be an obstacle when you want to implement this, start saving Bitcoin with small amounts because withdrawal fees from exchanges are quite high at the moment, and if you choose to save them on an exchange then you must remember Not your keys, not your coins, So the choice is quite difficult because for small investors it is impossible to buy 1 Bitcoin or a Bitcoin fraction larger than just $10 or wait until you can buy a larger amount because the opportunity to buy at a cheap price can be missed.
If there are investors who still want to buy small amounts, always pay attention to network density because usually when the network is not too congested the network fees will be cheaper, and buying it using the P2P system can be an option to avoid withdrawal fees from the exchange but you have to choose carefully so as not to be scammed.

Assface16678

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Quote from: bayu7adi on November 16, 2023, 11:12:50 PM

Accumulation can also be referred to as DCA ... however, I'm a bit skeptical about newcomers entering Bitcoin just because they see their friends making significant profits and are eager to buy Bitcoin. Newcomers usually don't understand that investing in Bitcoin requires patience; sometimes, it takes more than 6 months to truly see profits, or even several years. The mindset of instant profits should be kept away from those who are new to learning about Bitcoin; it's truly a poison that affects their emotions and only makes them frustrated because the price movements don't align with their expectations.

They should start learning that Bitcoin can be an alternative savings method, meaning every day they can save $5 or $10 according to their ability. After accumulating a significant amount, they can evaluate whether their savings have grown or remained the same. I believe that if this is done over an extended period, their savings will grow due to the increase in the BTC price.

That's what we called hype riders, meaning they want to enter an industry that they don't know or that is new to them just because they see its value or because a lot of people earn from it. I think many people invested and got interested in bitcoin or other crypto coins when the NFT's were popular. I will not say the specific game, but in my country, that crypto game became too popular because of the earnings you could get, and I noticed that many non-crypto people started to invest in it. A little while later, the game started to lose its value, and still many people in my country became crypto wannabe enthusiasts.

What I've learned is that many people will enter into something that they don't know because of its opportunity to earn, and nothing is wrong with that. What's wrong is that they think things are easy. Many borrow or load money, or some sell properties just to have capital they can use in bitcoin or other crypto currencies. Little do they know that the best way to earn is to start with a little amount, and then it's up to you and your ability to make your money grow. That's when you will know that you have a future in that industry or in the crypto world.

kotajikikox

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Not sure why people keeps seeking to buy Bitcoin in Whole i mean a Piece when we can just buy the lowest we can but will consider us as investors are already .
If I remember it right , have only bought small amount as 20 dollars and that is my starting capital but eventually buying up to now.
this made me investor and also a HODLER , we must always consider buying when there is available fund but can be willing to risk .

Quote from: EluguHcman on November 16, 2023, 06:47:11 PM

The reality truth and advice is that it offers you a better profit if you can invest with the least Capita at hand which could generate you gradual incomes while you strives to top up your trading Bitcoin wallet to your benefitted amount that tends to profer you the huge income as dreamt else, other times could be a wasted one because you ignorantically failed to take advantage and make your unreadiness a productive time (s).

that is why Bitcoin is the perfect investment because surely you can generate passive income depending to how much you invest on it.
so yes small capital is better that keep looking for high capital but cannot make it through .

Kakmakr

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I also started out buying like that, with every single cent that I could spare, but that is not neccesarilly the best way to do it. I changed my strategy slightly by hoarding the "cash" until the price is favorable to buy more bitcoins.

So why should you be forced to buy at a high price, if you can keep the cash and then when there are a drop in the price... buy more bitcoins. The timing of these buys are crucial and you should never buy in a Bull market..... rather wait it out and buy when it drops. Tongue

Die_empty

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Quote from: jeraldskie11 on November 16, 2023, 06:53:17 PM

If you only have a small funds, you can also be called investor if you invested in Bitcoin. You have to think twice before you make a decision since it's only a little amount. If you don't have knowledge in investing or in trading, it's not the best idea to use your funds since it only increases the risks of losing money. You have to gain knowledge first, learn how to analyze the market, and back test so that you can gain confident that your plan will work.

After researching and learning about Investing in Bitcoin I always advise newbies to Invest a small amount at the beginning of the investment. This will enable them to make less costly mistakes as embark on the journey towards mastering the Bitcoin system. Understanding and mastering wallets, privacy, security, and other important aspects of Bitcoin investment is vital before putting large sums into the system.

Quote from: jeraldskie11 on November 16, 2023, 06:53:17 PM

Also avoid checking the chart from time to time as it will generate negative emotions that affect your decisions. Always stick to your plan and trust the process, you will get what you want soon.

FUD is an issue that makes some investors dump their plans and sell off what they have invested prematurely. Looking at the charts consistently is one way to generate fear and listening to or reading information from social media and some untrusted media houses also infuse the feeling of uncertainty. Some of these platforms are specialists in spreading FUD and as such we need to avoid them. My advice to newbies is to always follow their investment plans and verify every information that interests them.

Quote from: bayu7adi on November 16, 2023, 11:12:50 PM

They should start learning that Bitcoin can be an alternative savings method, meaning every day they can save $5 or $10 according to their ability. After accumulating a significant amount, they can evaluate whether their savings have grown or remained the same. I believe that if this is done over an extended period, their savings will grow due to the increase in the BTC price.

Just as we keep money in savings accounts, keeping a small amount of Bitcoin consistently could lead to a handsome profit in a few years. But the problem is that most beginners are not patient to keep saving because they have been brainwashed by some altcoin developers and promoters that the crypto space is a get-rich-quick industry.

bayu7adi

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Accumulation can also be referred to as DCA ... however, I'm a bit skeptical about newcomers entering Bitcoin just because they see their friends making significant profits and are eager to buy Bitcoin. Newcomers usually don't understand that investing in Bitcoin requires patience; sometimes, it takes more than 6 months to truly see profits, or even several years. The mindset of instant profits should be kept away from those who are new to learning about Bitcoin; it's truly a poison that affects their emotions and only makes them frustrated because the price movements don't align with their expectations.

They should start learning that Bitcoin can be an alternative savings method, meaning every day they can save $5 or $10 according to their ability. After accumulating a significant amount, they can evaluate whether their savings have grown or remained the same. I believe that if this is done over an extended period, their savings will grow due to the increase in the BTC price.

michellee

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The method provided can be tried by people who want to start investing in Bitcoin. They don't need to buy Bitcoin in full but can buy it little by little. The important thing is that they can regularly invest in Bitcoin for a certain period, for example, 1 or 2 years or even for the long term.

Setting aside money like @OP could give them the opportunity to invest in Bitcoin. This investing routine is like saving in a bank account. But the difference is that we save in Bitcoin and we are the bank. The current price of Bitcoin is still low compared to the possibility of Bitcoin price increases in the future.

So don't waste time now to start investing in Bitcoin regularly. The method used by @OP is called the DCA method, which many people have used. The important thing is that before starting to invest in Bitcoin, they can learn about it first so they don't panic.

Poker Player

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This does not happen only with Bitcoin. One of the good things that digitalization has brought is a democratization of the ability to acquire financial assets. Today it is possible to acquire investment funds for small amounts as well, or fractions of shares. This means that, together with Bitcoin, which is what we are talking about, people with modest incomes can acquire financial assets to the extent of their possibilities and start on the road to wealth. Let's remember that if you want to get rich what you have to do is to allocate a percentage of your income to acquire assets, perhaps the best being the Bitcoin, and for this, DCA strategies, as mentioned above, are very useful.

barisbilgili

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Quote from: EluguHcman on November 16, 2023, 06:47:11 PM

The reality truth and advice is that it offers you a better profit if you can invest with the least Capita at hand which could generate you gradual incomes while you strives to top up your trading Bitcoin wallet to your benefitted amount that tends to profer you the huge income as dreamt else, other times could be a wasted one because you ignorantically failed to take advantage and make your unreadiness a productive time (s).

If we can see an opportunity to make a profit from investing or trading and don't take advantage of that opportunity, of course we will be very sorry when we see that other people can make a profit from the investment they made, because we could have started. with whatever amount we can afford and we also have to be able to do it regularly to be able to get a profit from the investment we make.

Quote from: jeraldskie11 on November 16, 2023, 06:53:17 PM

If you only have a small funds, you can also be called investor if you invested in Bitcoin. You have to think twice before you make a decision since it's only a little amount. If you don't have knowledge in investing or in trading, it's not the best idea to use your funds since it only increases the risks of losing money. You have to gain knowledge first, learn how to analyze the market, and back test so that you can gain confident that your plan will work. Also avoid checking the chart from time to time as it will generate negative emotions that affects your decisions. Always stick to your plan and trust the process, you will get what you want soon.

In my opinion, there is nothing wrong with having small funds to be able to collect Bitcoins, because if we can buy them consistently then we will be able to make a profit from the Bitcoins we collect.
If we can't understand it well then we need to be able to study it well before choosing to buy it, but if we still choose to buy it and study it well, of course this will be very profitable for us and it is also very important for us to be able to understand it well. control our emotions in trading because if we cannot do this we will make inappropriate decisions in the trading we do.

Darker45

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I agree. One has to start buying the moment they understand Bitcoin. If not for starting to build a Bitcoin portfolio, it's for them to try making Bitcoin transactions. Learning Bitcoin includes learning to receive and send Bitcoin. Creating a wallet, storing backup, getting the public address, and so on are exciting things for somebody who's still in the learning process.

In terms of investing, the advantage of buying in small amounts is that you could have a lower buying price average. And there's also the tendency that once you start buying, you will continue doing it. You couldn't get enough of it. And that's how your portfolio grows. Keeping your money for that perfect time and price could either mean you won't buy anymore because the price has already risen or you have spent your savings on something else.

LogitechMouse

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Quote

Re: Start with the little you have, you don't need millions of dollars to own BTC.

There are some reasons why people don't really buy or at least own Bitcoin.
- They have little to no knowledge about Bitcoin. They are afraid to lose their money.
- They have no spare money to start with.
- They have no interest in investing in it.

Yes, starting even with a small amount of money is already a good start, but it's just that, not all people who are capable of buying even a single Bitcoin are interested in buying it. It always comes back to how knowledgeable you are regarding Bitcoin because you will make better decisions if you have the knowledge. It doesn't matter how little your money is as long as you know what you're doing.

cryptoaddictchie

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Quote from: DeathAngel on November 16, 2023, 03:29:07 PM

It doesn’t matter if you are a low net worth, low earning individual. You still want to avoid losing purchasing power of your savings don’t you. There is no better hedge than bitcoin so like you say OP, you can invest very little. If you are able to DCA for a number of years & be very patient, your money will do much better in bitcoin than it will sitting in the bank suffering from annual inflation.

Thats right. Even with retailers who are lack of funds wanted to have btc they purchased btc with their mightiest buying power. Not all are capable of buying and recently the investment option for everyone tend to point to crypto which means that this industry are reaching them out through a lot of tongues. Adoption is either socially hype or business incorporated.

jeraldskie11

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If you only have a small funds, you can also be called investor if you invested in Bitcoin. You have to think twice before you make a decision since it's only a little amount. If you don't have knowledge in investing or in trading, it's not the best idea to use your funds since it only increases the risks of losing money. You have to gain knowledge first, learn how to analyze the market, and back test so that you can gain confident that your plan will work. Also avoid checking the chart from time to time as it will generate negative emotions that affects your decisions. Always stick to your plan and trust the process, you will get what you want soon.

passwordnow

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While I agree with the whole thing about what OP has said but we need to consider the current situation if we're just going to buy with $10, $20 or $50 because of the fees. The highest priority will charge us with $11 or 227 sats/vB and that's a lot for the little investors if that's what they're going to do right now.

I am not discouraging to invest with the little that you have but save that money first and wait until the fees drop off and be back to 1 sat/vB. It's going to take a while but it won't be that long as we wait for it to drop. But it's true that you don't buy the whole thing when investing in Bitcoin because that's the wrong idea of many that sees towards it.

It's not forcing you people to invest on it and buy the 1 Bitcoin and that's why the fractions that you can invest with, just focus there and aim to have at least a few decimals of it if you ever started to like buying and investing bitcoin. This isn't just all about liking it but understanding that it's best to have it during these times because of the inflation, crises, etc.

EluguHcman

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The reality truth and advice is that it offers you a better profit if you can invest with the least Capita at hand which could generate you gradual incomes while you strives to top up your trading Bitcoin wallet to your benefitted amount that tends to profer you the huge income as dreamt else, other times could be a wasted one because you ignorantically failed to take advantage and make your unreadiness a productive time (s).

Topic: Start with the little you have, you don't need millions of dollars to own BTC. - page 3. (Read 742 times)