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.

Yes of course with tons of projects right there like NFT and airdrops you can accumulate profit somehow in those no investment requirements to participate, as start-up you can use those earnings to invest in Bitcoin, its not too late as of now after the halving and bullrun comes out people grab the opportunity to make gains in just a small time. You can still join with the bitcoin, still consider whats is your goal for long term or short term which is I recommend if you are totally a newbie to avoid getting frustrated what your investment.

It depends on your difenition of hope here. Dont expect manners to fall from heaven there is hope if you ve started your Bitcoin investment. Being a beginner is not the problem because a forest was not built in a day. Every single penny invested in a fraction of Bitcoin will someday compound into hadfull of stacked Bitcoin. Consistent is the ultimate key, many might start but not all end up.

If it comes to hope there is hope but without work your hope is pointless. PUt effort to accumulate based on how much you can afford from time to time and watch your portfolio balance grow with time.

You must not wait till you have big amount of money to invest in bitcoin, because bitcoin can be bought in Satoshi. Bitcoin invest is for all, both the rich and poor. With DCA method, you can buy bitcoin with little amount of money consistently every week or month overtime, and before you know it, you will be surprised with the amount of bitcoin that you have accumulated. However, if you can increase the money for DCA if your discretionary income has increased.

Yes even the tiniest amount can buy bitcoin. Its not favorable to buy now since its going strong since last month but of course, if youll do a dca proper you could average your buy in within the market price. The bitcoin price is always on discovery so expect some more volatility. Buying bitcoin can never hurt you in the long run.

Yes, you can start BTC investment with a little capital, but make sure you have the knowledge of BTC before investing the small money because there are bull market and bear market which investors use to take advantage of them to earn profit from the investment, which you can also earn profit if you know what you are doing. As a newbie in the industry, invest what you can afford to lose in BTC investment, Incase your plan get bad or fail you because BTC is unpredictable but there is no how you will invest in the bear market, you will not earn profits from  bull market.

Hope you are not buying BTC now? And if you look at the market price at today, you will know that bull run is still on ground, because the price of BTC have pump higher to favour those who are selling their BTC.

This question is most often asked by novice investors, so the answer is "yes", Bitcoin can be purchased in very small fractions "Satoshi" which is the smallest unit of Bitcoin, if formulated then the amount is equal to 0.00000001 Bitcoin, so you can buy Bitcoin depending on the amount of money you are ready to invest. Basically, newbie investors need to start investing with small capital, the goal is to be able to learn and adapt to the highly volatile crypto market and you can also manage the risk of loss better.

Instead of investing in other coins, it is better to start buying Bitcoin regularly depending on the amount of money you are ready to invest. The reason I suggest choosing Bitcoin is because since its development in 2009 until now, the Bitcoin network has never been hacked, but cases of Bitcoin theft from Exchanges are common. So, when you already have Bitcoin, always increase its security and avoid storing it in an Exchange wallet.

You can start your bitcoin investment with whatever amount you have. It doesn't have to be a huge amount before you can start your investment. So there is hope for every investors. Bitcoin made it possible for all classes of people financially, to invest in it. If it were just meant for people with big money to invest, bitcoin wouldn't have been a perfect invention. Start with the one you have, and you can gradually be adding it as more resources keeping flowing in. Bitcoin is usually not just a one time buy, if you invest little cash today, and tomorrow  another little cash comes in, you can invest again.

Yes we f course. Though I don't know the country your are residing but if it is in my country, you can start bitcoin investment with just $2 or even $1. And if you have a good bitcoin investment plan, then you can invest the amount you can afford to invest every month or weekly. It you are investing with $2 or below then you to invest in long term for a minimum of 15 years. And that should give you a good amount of bitcoin. If you are investing with $2 monthly, it is $24 for a year and that should be 15 years, it should be $360 and it is a good amount of money.

But I know that if you are investing with that example amount, there are times you can make or purchase more that amount so the acquisition price will be unknown.

there’s always hope mate

and that amount is actually not that bad i wouldn’t recommend buying right now though because the price is really high though if you really want to get in before next year and take profit immediately then at least wait for when the price isn’t above $100k

or you can do dca method and just pick regular periods to buy bitcoin

first though start with finding for an exchange to buy or a wallet to store your btc

Yes, of course you can start bitcoin investment with a small amount of money, and then you continue accumulating more anytime you have money that you wish to be invested in bitcoin, although some people think they cannot start bitcoin investment with a small amount of money, which they are misunderstanding the concept. So OP, you can start up something, but make sure you know the risk and everything that is needed before you begin your journey of crypto investment; also, even though you will be investing small amounts, make sure you invest the amount you can afford to lose.

There’s no such thing as a bitcoin account. The correct term would be a bitcoin wallet. Before investing in bitcoin, you should read about bitcoin wallets:
[General] Bitcoin Wallets - Which, what, why?

And also search the forum for topics about DCA strategy:
DCA: the power of little beginning

Your question is not comprehensive enough, maybe it would have been better if you tell us how little the cash is. Do you have a steady source of income that can help you invest in bits using the DCA method? If this is not the case, then whatever little amount of cash you intend to invest with matters alot. Now we are in the bull season, if the price of bitcoin eventually dip, your investment might likely get affected greatly.

So, if the cash available for you is very small
You do not have a stable source of income
And you are only relying on this your investment do give you profits within a very short period?
I will advice that you try to improve your source of income first so you can comfortably invest in bitcoin.

Of course you can start but you can use any amount of money to start with in this case there is no specific amount that you cannot invest below that. If you think you can start with $10. I think it is better to start with a small amount if you are a beginner. If necessary you can gradually invest later using DCA method continuously. There is no rush in investing if you hold it for long term then you will definitely be much more successful.

But my advice to you is that the wallet in which you keep your investments should be very secure. If you cannot keep your wallet safe, your investments will never be safe. Store your wallet seed phrase in a place where no one can know and access the wallet.

I am guessing you mean start investing to bitcoin? Because if so, then yes nothing is over. You might not be able to afford one whole bitcoin yet but you can definitely buy satoshis depending on just how much you can afford. Do not get demotivated looking at the current price of bitcoin. I used to think that I may be a little too late but I still bought some bitcoins and got pleasantly surprised to see just how much it grew over the past year. Do not be discouraged and just go buy some.

Is there a hope for a late comer like me? What direction to take? I can invest £150 for starters.

It set the groundwork for every other coin that came after it. Bitcoin showed the way. Everything that came after it and claimed to be the next big-thing and the new bitcoin failed. Many are pre-mined copycats whose purpose is to empower and enrich a selected group of people at the expense of end users. That's one aspect where Bitcoin is different.

Hope should come only from the real facts.
Knowledge is key to have a real outlook on BTC.
It's not a sacred coin of sorts, it has its own reasons to be so loved and honored here and everybody else where crypto enthuthiasts are.

One of the benefits of Bitcoin is that you dont need a broker to act on your behalf, and there is no
limits big or small to which you can buy with which makes Bitcoin open to all big or small to buy
and its accessible 27 / 7 / 365 !

In terms of hope - there is always hope especially if you have a medium to long term outlook,
if you dont well then you just become a trader and make your gambles on buying and selling.

Yes, I do believe that. He's still new but it just gives me that feeling of being odd when someone mentions that be it vocal or written.

That will happen for sure. He only needs to check his status and what he's capable of investing in Bitcoin. It doesn't have to be his entire life savings just like what other did and fortunately, many of those succeeded.

But it's a different case and depending on what his plans are but what has been effective for most of us is with DCA which he has to learn the principle of it. It's very precise and simple strategy that everyone can do even the newbies.

OP should learn more about BTC and spend only what he is willing to work with. No need to scramble for last pennies and get them into BTC - that way, OP would probably not be able to hold for a long term.

A bit odd for sure - but I think OP will learn and call it a bit otherwise in the future.
 
There is always a room to learn and get more BTC for the times to come.

Sorry OP but this might not be a concern of you or anybody but it really feels odd to me when someone says "Bitcoin account".

Of course, you can start with little. But how little is that little? most exchanges have a minimum amount for you to trade or buy Bitcoin. As said, $10 is likely the minimum amount for you to purchase for most exchanges. And it's up to you if you will add more to that.

Be consistent and that start of your $10 purchase should be consistent for you to feel the gains not only on this bull run but take note of it, to the next one to come after 4-5 years.

If you have some money that you don't need to spend you can invest it in bitcoin and buy as much as you are comfortable with. Think long-term, not short-term. If you are expecting riches and wealth over the weekend, you might be disappointed. Let me give you an example. If you purchase $10 worth of bitcoin at today's prices, the value of bitcoin would have to jump to above $200.000/coin for you to double your portfolio and have $20 worth of BTC. Even if/when it does, you would only earn $10 with such an allocation. Bigger investments carry with them more risk but also greater rewards.

But don't think of bitcoin as only a way to increase your fiat and cash holdings. It's a way to gain financial freedom and escape traditional finance. That freedom allows you to transact with whomever and whenever you want, by sending and receiving any amounts. With banks, you can only do that if they allow you to.   

Yeah, strong hands mean good results in the future.
If you stick to BTC, you are not worried about fluctuations of any kind, you see them as opportunities.
10$, 100$, 1000$ - it all plays a role towards building up a good portfolio.

Yes, of course those who want to start invest in Bitcoin can start with a little cash. They can use DCA methods that will works best for them. But to start investing in Bitcoin, you must have a source of income so that will not disturb your other expenses.

People gets a wrong when they invest in Bitcoin. They think that they only need to buy once with a lot of money and wait for a while to sell at a high price. Well, that will not always happen like that. Bitcoin investment needs to hold for some terms and they should buy constantly until some certain terms.

If you have an income, you can start invest in Bitcoin, use DCA method to buy weekly or monthly and you are good to go. You don't have bother with the price fluctuation because your focus only on the date where you should buy Bitcoin.

Yes there is a huge hope still for those starting now.

I used to look down on 0.01 BTC back in 2017, that time it was easier to mine Bitcoin and I could remember that this was the exact amount I lost on a popular BTC mining service called Nicehash, I don't even look at it once because I felt it wasn't much at the time, later they did their reimbursement and damn I was happy about it.

Today, 0.01 BTC is a bit over $1000, Bitcoin adoption is just getting even more interesting, more popular countries will join sooner or later, many countries will turn BTC into a store of value or reserved currency.

Don't look down on any BTC Sat figure, store them up and keep, you will be glad you did in the future.

OP will see these 10$-20$ turn into something much bigger in the decades to come.
Just learn and stay on the forum, OP.
You won't regret it 

Absolutely, starting small with Bitcoin is a great way to begin! You don't need a lot of capital to get started. With the option to buy fractions of a Bitcoin, you can invest as little as $10 or $20.

It's also essential to educate yourself on the basics of Bitcoin and cryptocurrency. Understanding how it works, it's benefits, and risks will help you make informed decisions.

Remember, investing in Bitcoin or any other cryptocurrency involves risks. So it's crucial to set a budget, diversify your investments, and never invest more than you can afford to lose.

How do you understand Bitcoin, in the first place?

If it's freedom money, time is not running out. It's always there. The moment you decide to use freedom money instead of a money that's under the control and whim of a few individuals is always the perfect moment. It doesn't matter how much cash you have. 

On the other hand, if you understand Bitcoin as that which multiplies your worth 10, 20, 50 times, I'm afraid the bus has already left. It will come back after several years, though. So, if you intend to hodl, buy as soon as you have the extra, and every time you have an extra. $1 million per coin is within sight.

Whatever you do, dont use Uphold.com as your broker.

You can buy Bitcoin with a small amount since you can buy it in bits. Many people started acquiring Bitcoin with small amounts and they have been able to buy a substantial amount after so many years. For you to achieve that you can consider using DCA strategy. It is your ability to consistently buy Bitcoin based on the amount you can afford over some time. To buy Bitcoin, you can consider buying it through P2P or through an exchange. But don't keep your money in an exchange, make sure it is kept in a non-custodial wallet.

There is this watch word which is start with what you have. Yes if you have done your research on Bitcoin and feel you are ready to join in then it's best to go with what you have no mater how small it is.
You may want to wait till you have that figure you think is ok but still the price can either go up or down that because Bitcoin is volatile.

Bitcoin still remain the best small capital investment plan you can ever come across. With as little as $10, you can start investing in BTC and have total control over your funds. What make BTC unique is it's decentralized feature and it's ability to become profitable over time. What is most important in Bitcoin investment is you having the ability to hold and secure your coins for a lengthy period of time. This way your roi% will increase as the market increase over time. you can see how the market recently skyrocketed, even for someone who have been investing his $10 since the beginning of this year consistently, would still have benefited from the recent and current market bull.

My answer is yes, better late than say sorry. If you are looking the safest way and you are planning for long tun to invest your money, Bitcoin would be one of right choices. Although I'm not putting all of my savings in Bitcoin for the sake of having portfolio diversification, because I also try to make more profit in short term in Altcoins. To make yourself more sure, as mentioned by @Ziskinberg above, DCA method is worth to study for.

Try to read this also,

DCA (Dollar Cost Averaging) method is a simple way to invest in Bitcoin

And I think you should move this topic to Beginners & Help

Of course, why not? I mean, how little can you actually afford? You can start small and consistently accumulate until you’re able to increase your portfolio,  just don't expect instant profits right away. If you'll make a little research, you'll see that the market still has great potential to grow as adoption continues to increase, so starting now is a good idea. Do consider investing for 5 to 10 years, and you’ll likely be pleasantly surprised over time.

This article might interest you.

$10 Weekly Bitcoin DCA Yields 202% Return, Outshines Traditional Assets Over 5 Years

maybe more....

Is there hope starting up a
Bitcoin with little cash,🤔