Topic: Starting up a Bitcoin account (Read 626 times)

In your first line of comment, you might be mistaken about bitcoin trading and bitcoin savings. That's, by the way, one can buy as small units of bitcoin as they can afford, but not all amounts are recommended to use and buy bitcoin due to exchange buy limit withdrawal limit and fee rate too.
 
The person doesn't also need to wait until they can afford a whole bitcoin before they can start with as little as $10 and above for those that will use a centralised exchange to start buying is enough for them to start with, and for whichever means that don't have a limit to any amount, which if you remove the withdrawal fee, you will still be left with something tangible that is worth it too.

From the way the OP posted, it’s obvious that the OP is still new to crypto space, you asked the OP not to start trading with bitcoin, because bitcoin is not really volatile in nature, and you recommending the OP to start trading altcoins, which means coins that are highly volatile, don’t you really think that’s wrong, I don’t really think it’s advisable to recommend to newbies to trade coin’s that are highly volatile in nature, the chances of them losing their money is so high, any slight mistake, then their money will be gone which is really a bad one.

If I will be advising any newbie to trade, then I will recommend they trade with a little amount of money, and they should focus on coins that are less volatile, even if they will be switching to coins with high volatility later in the future, then they should start with coins with low volatility, so I will say trading bitcoin and investing in bitcoin is still the best to me, because the chances of losing money are less.

I know everyone’s opinion is different, but I always prefer when newbies invest in bitcoin rather than trading it. Some people do think they won’t be making much money if they hold, but I don’t really agree with that, just imagine the profits that people who bought bitcoin when it dumps to around $15k will make if they are still holding up till now, so I do recommend people hold.

Starting a Bitcoin investment with the little amount is acceptable Mate: especially if your still in Newbie’s that the best idea for you, because our can help you to grow up your knowledge more effectively that even you come invest with the big amount of money you won’t have too much issues, that’s why some of the members here always recommended advice that if you want to start Bitcoin investment we should start with the any amount of money that we can afford to lose.

Because there’s some people that right from their initial of their investment they will go and start with the amount that they can’t know afford to lose, what if after invest a big amount of money in the Bitcoin and later lose everything; the person will nearly run mad to be honest.

It's great that you're asking questions and getting positive feedback to help you get started. Some newbies miss out on investing in Bitcoin because they think they need a lot of capital to start. But the truth is, you can start with what you have, from where you are, and build up over time.

The key is to remember that Bitcoin is a long-term investment. You can't expect to invest today and see returns in just two months. Some people have been holding Bitcoin for 10 years, and now they're reaping the profits.

Don't be discouraged if you only have a small amount to invest. You can start with what you have and leave it to grow over time. Some people get discouraged and invest in other memecoins or shitcoins, only to lose their investment. But if they had just invested in Bitcoin, they would be sitting on profits today.

So, make your choice, but know that you can start with what you have.

I don't really know your points of view, but it seems that what you're emphasizing to, but from my perspective it seems of that you're asking if is possible to start Bitcoin with little or available funds, already I know that if you have your fund's at hand you can start purchasing your bitcoin and hold, and any value you purchase in bitcoin is reasonable one at the moment, because if bitcoin increases the value will not remain the same, so is encouraging to purchase bitcoin with little you have, since you have the passion on it.

Bitcoin is all about hope whether you are finding a cross-border transaction solution.
Whether you looking for the store of value,
Whether you are looking for something to explore in the financial sector.
Whether you are looking for a gem is going to hit crazy and hard in the coming few years.

keep in mind

So start DCA now, if you are still waiting for the 80k or 60k where were you when it was at 57k 56k and even in back in time 30k anyway, according to my journey its never too late if you are not running after some short term gains.

Definitely starting now is not too late, in terms of profit making starting now requires enough time and patient meanwhile the little can be referred as the discretionary income. Investors don’t struggle to invest and it’s important you invest what you can afford to lose, investors who had a better price range investing earlier are so lucky even if this is not the best price now probably you might never meet this price again so buy now and hold. I don’t know what op expects from bitcoin market but, I will consider the fact every investor expectation seems high as usual. As a newbie i don’t think it’s right expecting anything in return now just buy consistent with the amount available.

Sure; Bitcoin is a digital currency that you can trade with as low money as possible, it is not an asset that you have to buy one, you can be buying Bitcoin with as little amount as possible using DCA method so that you can maximize your Bitcoin savings not until you have huge money before you starts to buy your Bitcoin.
DCA method is the best method for people to bag Bitcoin.

This is a good question, because many are been discouraged, because some folks kept saying one need a certain huge amount of money before they can start their bitcoin investment which is not true , because there's no fixed amount of money one need to have before they can go into Bitcoin investment, aslong you have some discretionary funds you be able to start your Bitcoin investment.

So you can find any buying method that suits, but the most highly recommend method is DCAing, which is more easier to use and all that , with this method with time you be able to build a nice Bitcoin investment as time goes on .

In my view, there is nothing impossible or improbable in carrying out activities on Bitcoin, whether it is done by investing, trading and so on, starting now is not a reason that is impossible to do, You will focus on the next five years, yes if you look at the current price of Bitcoin it is high, but you will look again in the next five years the price of Bitcoin.

Basically every crypto user who dives into the crypto market and starts to get to know Bitcoin will be afraid, but over time all that will be overcome and they will understand the real journey of Bitcoin, so don't be afraid to start even if you start with any amount of money.

If i may ask how do you mean or what do you mean by is there a hope of starting up a bitcoin with little cash. do you mean to just invest with little money and stop investing and leaving it till bitcoin skyrocket or do you mean investing into bitcoin little by little maybe weekly, monthly or yearly. however, if you mean investing little by little of course there is a hope that you are going to grow your holding or perhaps your investment but remember this will be possible if you are consistent with your accumulation because consistency is one of the key to success in bitcoin investment. lastly, the amount one uses to accumulate will determine how fast there holding will grow and the return they are likely to have in years to come. 

Not sure about you guys but for me, there is nothing wrong or odd with it. @sunsilk it is a concern of him first because why will he come here anyways? And then secondly you and @betswift is also concerned with this because why will you guys make a reply here at the first place? You guys are even concerned of the term he used there.

To @OP; yes, there is a hope mate. Didn't you know that by the time you have created a thread here, the hope have started already? Also when you just think about it or before you created it. You already did the first or second step and the next one would be is to start buying and hodling it. Yes, a little cash is not a problem, since we can be able to buy BTC at a smaller portion depending on how much we can only afford.

Not financial advice, but yeah, you can start with a little cash, but not directly with Bitcoin because BTC is not that volatile, and from the current market price, it can only give 1.5x to 2x in the upcoming year. Therefore you have to make some profits by trading in alts and once you make good money, then you can invest them in BTC for more profits.

Besides, you can even invest $10 in BTC it all depends on what you want to achieve here with your investment. I have a cousin who is new to the field and he said he made 270$ with just $50 but he did not traded in BTC I don't know if he is telling truth too but I saw the trades on his phone plus the total profit too. If he can do that you can do that too. NFA so DYOR

That was some kind of wisdom that you just said. I could see and agree with your point of view, indeed not all people know about Bitcoin, mostly older generation. We should consider ourselves lucky that we found out Bitcoin and understand about Investment, at least the very basic knowledge of it. The number of people who doesn't know Bitcoin and even don't understand of how Investment work are even greater in various third world country.

For that reason, it is better to be late than say sorry, it is still better to have at least something eventho we see it as very little, compared than having nothing when all countries already utilizing Bitcoin.

Counting yourself lucky to have met Bitcoin where you did decide to be worth anything investing in is what you should be doing now. That’s in a way to tell you that, you’re not late to the party. Majority of the world’s population haven’t taken advantage of the Bitcoin initiate just yet and Bitcoin hasn't  fully acclimatized to a particular price. Will it ever do that? I can’t say, wouldn’t want to predict on it either but, the volatility now is what would ensure it’s enough for majority of the world’s population. Your few dollars today is going to count more in profit for you than you would have hoped.

It easy to start , even with a little cash as you've asked but put you must understand  that the fraction of Bitcoin you will get with that little cash will be low compared to when Bitcoin was below 50k and the  higher the price the less amount that little cash will be able to purchase.

Hence, you can't purchase little and expect to see a  high yield, you will see  a return according to your investment.. and if you wish to increase your portfolio overtime without stressing it, you can adopt the DCA strategy, some comment already explained that a little so there's no need for repetition, just that if you are planning on investing you need to be able to hold for a long term to see a good return on your investment

Obviously, Yes. So long as, your intention is for long term investment plan, not for short term. You can go ahead to invest with little amount you have, and hodl till when you see profits in Bitcoin you bought with little money. But have in mind, that the little money you invested in Bitcoin wouldn't give you as many profits because of the high price of Bitcoin currently. It will really take many years for you to see many profits that will entice you to think of selling your Bitcoin. But if you aim at big profits, you can apply a DCA strategy of monthly or weekly investment plan of Bitcoin with still the same little money you have.

You can start up your Bitcoin journey as small as 10$ provided you have a means of funding your exchange account, maybe if your country are not that strict with regulations issues you can then buy with your master debit card directly to your exchange account. Although you can also used through p2p provided if you don't want to use direct exchange to buy bitcoin, this is for those who do much cares about their privacies.

That is one of the advantages of Bitcoin over other types of investment like Gold, Real Estate etc. With as little as $5 or less, you can own a piece of bitcoin. And if you decide to be on an investment streak with the little $5 weekly, by the end of one circle, ie 4yrs, you could own a good fraction of bitcoin. Maybe the best thing to do is to give it a trial and see how it goes. Don't go all in, just go with the amount of money you can afford to lose.

No time is too late to invest into Bitcoin but the best time is now that is if the money is available, it is also important when investing to invest the amount of money you can afford to loss or Money you won't need for a longer period of time which could be from 4-10 and more because bitcoin investment is best sighted when the investment purpose is for a longer time, with the DCA strategy of accumulating Bitcoin you can start accumulating Bitcoin gradually either weekly or monthly regardless of it's price and still continue hodling and for you to be able to HODL your bitcoin for long you need to make provision for your discretionary income, emergency fund and also reserve fund from your discretionary income you can be accumulating Bitcoin you won't also sell out your bitcoin hodling when an unforeseen circumstances occur then you can easily sort yourself out from your emergency fund without tempering your Bitcoin investment.