Topic: Start with the little you have, you don't need millions of dollars to own BTC. - page 5. (Read 742 times)

If someone is able to buy bitcoins in large portions due to their financial capabilities - then I don't expect it to be a wrong action. But of course - buying with a lump sum is not always good because the price of bitcoin can fluctuate sharply and can be lower than the previous purchase price. The DCA strategy is supposed to help them buy at a lower average price - but even if they want a lump sum then that's not a mistake.

I understand the point of this thread - of course one doesn't have to have million of dollars to start investing in bitcoin, but even with $10 they can start. If I can afford $50/week, then I won't push to buy $100 or more - but buying as much as we can afford without interfering with other priority needs will be fine compared to holding fiat.

It's not "your" funds if they are being held by a third party. But as I mentioned finding a balance that works is the best option. Leaving them on an exchange up until it will not be too expensive to transfer out, this is my opinion is when the cost of the transaction is less than 10% of the transaction amount. This could means for a period of 2-6 months you will be totally deoendent on the third party.

The downside of this is users get complacent and decide to just leave the funds on the exchange, pointing out that it has been safe during the period they left them there.

It's more like what we call DCAing (dollar cost averaging) which means buying regularly a portion of Bitcoin which is largely supported by many members of this forum there are other method one can consider when investing on Bitcoin which are listed by JayJuanGee in his thread
But your method though still supports buying in a whole because saving in a box before buying will still end up trying to buy in a whole which is not what anyone should be advised it better to buy regular because time matters if you don't buy at a point which you have the money something more important than saving might rag off your savings like health issues that is why we more support DCAing.

 Bitcoin investment does not require a huge amount for you to be able to make an initial investment. Just start with a small amount at first, an amount that you are comfortable of losing. And by doing DCA, you will continue to increase the volume of your investment throughout the years. That's the easiest way so you will find your bitcoin investment grows despite of your little cash onhand.

 This is the reason why bitcoin investment is not only limited to rich but even poor and average individuals are free to invest. As long as you know the type of investment you are entering and you know how it works through long term hodling, then I guess your money will be safe as long as you don't resort into panicking and selling your coins at a wrong timing.

i believe that's one hurdle if you are buying small amount of btc from the exchange and you want it to transfer to your own wallet as the fees are quite expensive. but if you will store it first to the exchange, and just transfer later on, make sure the exchange is at least reputable and has insurance. because it is quite risky leaving your funds in third party platforms.
but the idea of buying small fractions is i guess actually being done by a lot of crypto enthusiasts already, particularly those who have tight budget but are strong believers on this market.

After reading this your post, many still won't buy as they'll consider the money they have at hand not big enough to buy some Bitcoin. Human beings are used to buying something's at whole instead of fractions and that just happens subconsciously. One thing people's are yet to understand is that you're better off dollar cost averaging than buying at a go because you buy more quantity f Bitcoin when you DCA. Don't wait until you have the amount you feel it's big enough to buy Bitcoin before you start buying, just buy and hodl.

Smart investor's don't wait to buy, they buy to hodl and the good thing about Bitcoin is that there's no limitation on the amount you can buy unless you're making use of a platform that sets a limit so they can make gains from commission (like trading fees on exchanges). You can always create a request on the forum and someone from you localized will be willing to sell Bitcoin for you and you pay with your local fiat.

The more you wait, the more you miss out on the opportunity to acquire Bitcoin at this price because this meant just be the last time we see Bitcoin trading this low again. Your investment capital should be that, that won't break your bank and you won't panic if the market doesn't go exactly as you expected in the short term so while you Invest make sure you're not over doing it or you won't be able to hodl to benefit.

You have said my physical campaign awareness on bitcoin to people. A lady met me one day and Sid someone told her that for her to own a bitcoin she has to purchase it with the minimum of $4,000 USD and immediately I have to reconciled that mentality from her and told that she can invest with any form from $5 US dollar and that should be depends on the current dollar exchange rate and after the orientation she was very happy and took my number so she can call me to start the investment.

Yes many people have that misconception that it is only big amount can be used to invest in bitcoin but that is not true. In my country of you have #4000 which is equivalent to $5. Though I don't blame them because they are ignorant of the ecosystem.

It is actually called the DCA strategy; in this strategy, you don't need to invest a large amount. It doesn't matter if you aren't rich; if you have good intentions to invest and hold, then any amount you can buy. If we don't have a large amount and can't afford to lose, then the DCA strategy is best for us. We can invest a portion of our savings and hold it tight until we have good profits. If you are looking for a bottom, then you may not find it because Bitcoin is unpredictable anyway.

The core concept of this post is correct. Bitcoin is divisible to the eight decimal, which is lower than a dollar, making it possible to invest with what you have at a point in time and not move to altcoins with zero value.

But investing $10 is not very practical with the fees attached to it, except you choose to store them on a exchange which is not recommended. New investors would try to achieve a balance between investing with what you have, maximizing profits and hang optimal security.

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.

If you are in dam need to invest in Bitcoin, you can buy with as little as $10 and above. Bitcoin is divisible, meaning you can own some fractions, and not a must you will buy the whole of it.
I was inspired to write this topic seeing some of my close friends who had shown interest in buying some Bitcoin some time ago, talk about how they want to invest a significant amount of money, one of them even told me that the little he can start with is $200, and which he missed the opportunity to buy BTC when the price was around $25k in the process of waiting to buy when he has up to $200.

So I guess we have plenty of people who are interested in investing in Bitcoin today but have this kind of mindset, and they want to start investing only with a huge sum amount of money and in the end, the money never gets completed the way they want it and these make them keep missing out on buying opportunities at this cheap price we have for a year plus now.

Bitcoin is created in such a way that you can invest even with as little as $10.
If You face this challenge, you can try out this method to achieve your investment goal in Bitcoin, which is saving some money in a Box and which some people found yielding positive results in the end, and believe me, with time, your goal will be met too if you properly apply this method of saving.

For instance, back then, There was a time when I wanted to save money for something crucial, so I gave myself a six-month target to achieve that, I started cutting down those unnecessary expenses of mine and started saving those side changes in a box, and after that duration of six months, guess what? I marveled at the amount of money that I saved in that box.

So what does that tell you?, it tells you that if you want to invest in Bitcoin but don't have that Big amount of money, give yourself a target and start buying with the little you have $10, $20, 30, $50 and above depending on what that suits your income, I promise you from my experience you would be amazed in the end with the amount of BTC you would accumulate for that 3 months, 6 months or even in 1 year you would give yourself.

The bottom line is that it is better to start buying now with the little money you have than waiting and the time passes by.
Bitcoin is still fucking cheap right now to compare the price it would be in the future.

Hope this can encourage someone who may find him or herself in such a situation.