Bitcoin Forum

Hi guys,
    Brand new here. I just have a really general question. What is the minimum amount to start out with as a legitimate BTC investment ? And another question. Is Cashapp a good place to begin with this initial investment ? As far as fees for buying and selling is what I mean by a good place to start. 

Is Cashapp not for mobile money, I mean fiat currencies. I have not used it before and can never think of using it if I want to invest cryptocurrencies. The best way to invest cryptocurrencies is to have a noncustodial wallet that you can leave the coin and have the control of your crypto, not going for any custodial wallet or custodial exchanges. You can buy offline wallet for well protection and be having your private key offline, but this can depend on the amount you want to invest. If you want to invest $1000, hardware wallet will be good, but investing $200, you can use online wallet. Custodial wallet can offer easy means, but it better to have the control by using noncustodial wallet. Do more research and know the difference between custodial wallet and mom custodial wallet, also about custodial exchanges and noncustodial exchanges.

Its simple; as much as you can afford. Whether it's 0.001 or 0.1 BTC, it's all good. Don't make yourself feel that you have to own 1 whole BTC immediately so you end up buying more than you can afford, or even taking out loan to buy it.

Regarding Cashapp, I never used that one, but pay attention to one thing: if you can't withdraw that BTC you bought via app to your own BTC wallet, avoid using it.

Usually you don't need any specific bitcoin to invest. You can invest as much as you can in Bitcoin. There is no specific way to invest. But the more you invest, the more  you will gain. But one thing to always keep in mind is that wherever you invest, you will know well beforehand.

I will add that although you can start with basically any amount, please pay attention to the fees of the platform you use for buying, especially the withdrawal fee (maybe minimum amount to withdraw too).
The point is that, in order to not lose too much on the fees, especially if you plan to buy multiple small amounts, you may want to withdraw to your own wallet less often. Or, maybe you find a platform with higher price for bitcoin, but with lower withdrawal fee. On small amounts it's important to do your math properly.

And, while withdrawing to your wallet (where you have the private keys or seed) is advised (not your keys, not your coins), you'll have to make sure you have understood how to keep the wallet (and backup seed) safe.

The minimum amount will totally depend on what exchange you're using.

As for CashApp, it should be decent when trying to learn the ropes. For now, probably leave the coins there. But at some point, if the bitcoin you own slowly but surely increases in value(due to more invested or due to price increase), you might want to withdraw them to a non-custodial wallet.

https://cryptosec.info/wallets

There is no defined minimum amount to be considered a legit investment. At the end of the day, it depends on how much you are capable to invest, for how long, and what is the end goal. Even a small amount could turn out to be a nice profit if given time. Give it a go, see if it works for you, and then tweak it.

I have never used Cash App, but I heard you can buy Bitcoin with it. There is no "good place to start", but you should still consider the fees to be able to get the maximum amount of Bitcoin that your money can buy.
There are no minimum amount to start out, but there are minimum amount to withdraw from some wallets.

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Source: https://cash.app/help/us/en-us/3103-bitcoin-fees

I don't know why you asking about cash app, all time I have been buying crypto-currency -although not a consistent buyer- I have not used cash app or has any one suggested cash app for use, I buy and mostly sell my crypto-currency through peer2peer this is because of my undieing distrust in my government who had once had a ban on Crypto-currency transactions.

Simply what you afford or can invest as an extra saving can be utilized as your Bitcoin investment strategy and that could vary from time to time like you have some extra funds of $100 you can buy Bitcoin with them or even if low you could also buy them unless fees requirements are met.But you should surely takes you all expenditure list and finalize what you can invest or say what you are willing to loose because at some point the prices may go down which could devalue your investment but later on it will grow so keep that in mind.

From what I can see, Cash App has three different withdrawal speeds. That means they don't allow you to enter your own fees. For a more experienced user, that's a bad thing, but since you are just starting out, I guess it's ok. Cash App will charge a margin when you buy or sell.

If you are withdrawing using the standard withdrawal speed, you are required to withdraw at least 0.001 BTC, but you wont be charged any withdrawal fees. That's about $60 right now. For faster withdrawals, there are no withdrawal minimums, but you will charged a withdrawal fee depending on market congestion.

Read more about it below:
https://cash.app/help/us/en-us/3106-bitcoin-withdrawal-instructions
https://cash.app/help/us/en-us/3103-bitcoin-fees

Let me add a little more with this; as much as you can afford to lose. Though I strongly believe there's no way BTC would be a risky investment in long. It's always best to invest only the sum which they don't require urgently.
I don't know why are you OP picking cashapp? There are more exchanges where you can buy & sell.

Just make sure the exchange you are buying doesn't require higher fee when you withdraw your btc. If you only buy small amount and yet when you withdraw it almost used all your btc in one transaction and you will receiving what's remaining of the btc you bought. You can also try buying from another person with the help of an escrow. If you don't know about escrow, it is the same as midman when exchanging something. Use electrum to store your btc and you can also choose how much you will pay when you send btc. Check mempool.space to know how much satoshi/byte is needed to let your tx through that only pay small.

OP, The amount really depend on your financial capabilities and also how confident you are to buy in that amount. If you buy directly from people you know "your friends" then you can still buy in smaller quantities if you agree to use LN. But if you want to buy to trade it, then make sure first how much you can afford to take the risk. My advice, buy as much as you can afford to risk loss.

at first i welcomed you to bitcointalk community and same vein and i say  congratulations to you for locating the community.

  i think theirs no minimum or maximum amount you can't use for cryptocurrency investment specifically, the only i understand to cryptocurrency especially bitcoin investment is that, your profit will come along with the amount you invested, because the larger the deposit input, the larger the profit or gain generated, and smaller the amount the smaller the profit also...so investment is base on the level of your financial capabilities.

As I said before: if you want to invest in BTC then don't ever think that you have to buy 1 BTC directly. of course you can start by buying the smallest amount of BTC you can test to see how it feels to own it but you will not feel any fluctuation as it is only in small amount.
At first I also thought so and felt a little pessimistic because of limited capital. But that's not the main reason not to invest in it, let's say I started with $50 capital on the BEP-20 blockchain. on the other hand, it also gives me a lot of advantages both when trading with low fees and anytime I can add more when there is capital.

To think of it, is there any legitimacy to bitcoin investments? Like, a legitimacy to owning money or currencies because, that's what if is. Well, I won't want to question that fact but, I think that's a misconception. All bitcoins are legit, your means to its acquisition is what could be a subject of question and that's by the way.

There is no limit to the amount you intend to start a btc investment with. Its entirely up to you and your financial capability to choose which style or pattern to go about your btc investment. The main idea is, keep buying and keep hodling as long as you can.

Based on the post below in which @Matt55317 sells his Cashapp account, seems ike he has been using that app for quiet some time, so that might explain why he wants to buy BTC via that app. As a matter of fact, he sells other stuff too and  not just his Cashapp account. On top of that asking loan as a brand new account.

What's your purpose for using cashapp? each wallet and app that we use has a purpose so if there are features that you can benefit from using cashapp then you should use it.
But if your main purpose is to hold bitcoin then it's not the best option, there's electrum and other good known wallets that give you your private keys. And for the amount on what you should invest, any amount will do and it's your option to have any amount that you afford.

You can start up with any amount you have to invest, it must not be something too large . If you are thinking what you have is too small can be time delaying. Cut your coat According to size and do not look down on the little you have. Go ahead and invest if you really want. Your first move matters alot.

General questions that can be explained by all members here.
I'm sure everyone has a different opinion. Starting to invest in crypto is very easy and the minimum initial investment depends on where you start. Binance, Coinbase or cashapp you mentioned.
Don't think about how much capital you should have, but first learn how to trade in crypto. Do not let you enter without trading knowledge. it will waste your money.

The rest you can read some threads that you can find in this forum.