Investing 1$ every day in bitcoin over the last five years

[julius caesar]

Investing your extra money to bitcoin is a good choice. There is a higher probability that your money will increase since the bitcoin is volatile. You should still check the price movement of the bitcoin since it might pump so high and that is the time for you to take advantage into it. Try to sell it and it will for surely help you to gain profit.

[alexsandria]

Investing your extra money to bitcoin is a good choice. There is a higher probability that your money will increase since the bitcoin is volatile. You should still check the price movement of the bitcoin since it might pump so high and that is the time for you to take advantage into it. Try to sell it and it will for surely help you to gain profit.

Investing 1$ a day was a good choice and still you will not feel that you are investing in bitcoin because 1$ is very small amount of money and it is kind of not so hard to do and if you are just looking forward to what you may have income after the year ends then probably you will be able to have the urge to invest on it. But the thing is you will really able to do it continuously? If yes thrn it is a good for you, just like what you have been said volatility of the bitcoin was thr greatest factor why you will be able to earn profit after the year ends.

[Dabs]

The point of this exercise is a form of dollar cost averaging, being consistent, and doing this every day or every month. For most people, they get paid twice a month, so they can do the buying every 2 weeks. Something the equivalent of maybe $15 every pay day, which is close to a dollar a day.

People should be saving more, and starting now (or as early as they can) going forward for the next 20 to 30 to 40 years. By the time they retire, they should have at least a million worth, assuming they never touched their coins.

This applies as well with traditional investments and is actually a very basic retirement plan, also safe and sound and more or less proven.

[sheenshane]

This is a good idea if you dont have any expenses to worried about. $5 a day or let say $150 a month is a good practice of saving valuable assets like Bitcoin and maybe changing your spending habit is also a good practice. As mentioned above of my post, by the time people will retire they will have a financial freedom especially when we went going older. It probably helps you add more value to your current financial status in life. Tend to agree that this is a good plan of an investment than depositing your money on the bank.

[hahay]

That's incredible, people who have thoughts like this are indeed very extraordinary and I really appreciate them because they can do it with patience and good consistency, but somehow some of us find it difficult to do the same way even though, the way is very easy to do. Many people do it this way in every country with fiat and not just investing, because I know that many people save this way by setting aside their money every day to save. Consistency and patience are the key to success if you want to do this way, so prepare yourself not to be easily influenced by anything that ruins this great effort for old age goals.

[Stedsm]

This is a good idea if you dont have any expenses to worried about. $5 a day or let say $150 a month is a good practice of saving valuable assets like Bitcoin and maybe changing your spending habit is also a good practice. As mentioned above of my post, by the time people will retire they will have a financial freedom especially when we went going older. It probably helps you add more value to your current financial status in life. Tend to agree that this is a good plan of an investment than depositing your money on the bank.

People tend to take the advantage of the price spikes and most of us here don't save our money in crypto but also redeem all the BTC/alt in fiat once we get our earnings. That's proven and the reason behind it is the fact that most of us either come from third world countries or just have crypto as the only source of income here. For doing continuous investments in BTC, a person needs to be very active and firm with the fact that he won't touch none of his coins he invested in. For those who can't invest $1 (or any specific amount) daily, they can either set up a goal of $30 (or maybe less or more) to keep aside after a month ends, then either buy BTC with it or if already earned it, keep it and hodl it.

[davinchi]

This is a common case. Even if you save some bucks from your daily expenditure, you would save a decent amount to buy you some commodities you desire. The same case goes with bitcoins but only the major difference here is that those bucks you would save would also get multiplied depending on the price for bitcoins and as the price already is much high for bitcoins we could predict what would be the outcome in more coming 5 years if we continue saving 1$ daily.

Transaction fees would matter here the most though because we would have to pay more than the amount we save for broadcasting the transaction on the network. This would not be a good source to save our funds only because of the transaction fees.

[Sanugarid]

Investing your extra money to bitcoin is a good choice. There is a higher probability that your money will increase since the bitcoin is volatile. You should still check the price movement of the bitcoin since it might pump so high and that is the time for you to take advantage into it. Try to sell it and it will for surely help you to gain profit.

It is indeed an awesome and great idea to invest 1$ a day. Just to think of it when you already invested a lot of money for a long time and di not notice how really big it was in the future and it also goes along with the price of the token where you invest your money, maybe you can have the money you could not imagine before. We all know that bitcoin is a good investment and knowing that you are doing your part in your own awesome way, I can simply say that in the future you will become successful.

 

Its easy to say but very hard to keep doing it, the first thing that will come to your mind is how far can you go? it will feel like its not going to turn into any meaningful money, those who lacks Patience like my self can't do it, just way too small

Maybe that is one of a problem but if a person keeps on his patience doing what he is doing, the goal is not that hard for him to achieve as long as the eagerness to earn stays with him. It is all about the interest and your willingness to earn money that is why you should have to think on the positive side and foresee the near future that might happen if you continue doing that awesome thing.

[South Park]

Oh my goodness made, I went through this article and I am just speechless. I was wondering like what if I could have did the same...that's remarkable see how people are coming with different thinking when it comes to savings, would you believe??? Well this is what crypto returns you while you invest in Bitcoin.

You cannot change the past but you can change your future, that strategy amounts to saving 7 dollars each week during 5 years in bitcoin, I know there are some people for which that is a significant amount of money, but everyone must make the effort to save as much bitcoin as they can while its price is still reasonable, even at a price of 9200 bitcoin is cheap, but if bitcoin reached 50k, 100k or a price even higher than that even people in first world countries will have problems affording a single bitcoin, so if you have some money to spare this is the moment to invest in bitcoin.

[Ryker1]

Well, investing in Bitcoin is like putting your intuition and will together. It wouldn't make you feel secure at first compared to the bank. It is really a good idea to invest in Bitcoin 5 years before since you have seen the results. But you won't get that idea and won't even do it the time Bitcoin has not proved anything yet. Same as life, --without a character, you will only believe in those you've seen. Indeed, accumulating the amount of Bitcoin while you are at a young age is a better idea.

[seoincorporation]

It's never too late to invest in bitcoins. The price will increase. Maybe there will be decrease during severals month but "in fine" the price will grow up. I think it's a good invest, but it's a stay investment like gold.

I was thinking the same, never is late to ride the wave. And if we start investing $1 each day in Bitcoin we will see a great profit in the next 5 years too.

I think a good amount to invest each day is $5. That way we can warrant our future in the next 5 years.

[gundala]

That's one pretty good investment strategy, I've read an article like this, and is it the same as Dollar-Cost Averaging (DCA)? So we buy assets with the same nominal, no matter the price is high or low, the important thing is to consistently buy and see the effect in the long term or years. With this strategy, it will reduce market risk over time, without overly relying on market price movement trends. This is also effective for those of you who lack good knowledge of market analysis, both fundamental and technical and save time monitoring prices from time to time. And look at the outline of the OP, it gives a pretty good profit.

[pixie85]

This market is one of those that favour strong hands and dedicated investors.

For those of you who complain about Bitcoin not even being worth 10 thousand dollars after reaching 20 thousand 2 years ago, you could make a small fortune in 2019 and early 2020 by simply buying and holding. Bitcoin gave uyou so many opportunities for that by staying below 6000 dollars for months and then going close to 10 thousand on multiple ocasions. If you were lucky you could even catch that 14 thousand pump and triple your money!

[Artemis3]

If you had been dedicated enough since release, then ROI would surely be high. But if you have invested right before the peak of 2017's bubble, you would have lost more than you could have gained.

Basically, investing regular amounts on regular intervals is what cost-averaging is all about. It does lessen the risk of losses and has high probability of gaining, but it still depends on the time and price trend upon your entry.

This is not entirely true, you never lose unless you sell. The problem is, are you willing to wait whatever it takes? Because if you invest money that can be "lost" or "frozen", ie. long term investment, you probably has no issues waiting years or decades. Of course that only works with your own money, not talking about margin trading.

Buying a little bit everyday simply spread things out. Long term bitcoin price goes up, so yes it should work fine. Even if you bought a few coins at nearly 19k most would have been bought 3k~12k prices the following years anyway.

If you are in for the long term, the price is nearly irrelevant. Bitcoin excels for long term savings. Fluctuations beyond its "natural" market price don't last long anyway, so most the time you would be buying at fair price, sometimes you will get expensive but also sometimes cheap, i guess they average in the end.

[Asuspawer09]

https://calculator.for-bitcoin.com/?amount=1.00&freq=day&month=January&day=01&year=2015
(gross earnings: 20.279,67$ -> same scenario as OP)

Note:
Gross earnings= Current value of BTC investment – gross cost
Gross cost= cost in USD on the date of purchase, not considering Fees (as is the exercise in the OP).

I guess if you could still get close to the 20k$ profit if you could find a low fee website or wallet where you could store your bitcoin, I could buy 1$ worth of bitcoin today in my bitcoin wallet that only has 0.059$ today but probably when the market price is increasing the fee is also going to increase.

If you had been dedicated enough since release, then ROI would surely be high. But if you have invested right before the peak of 2017's bubble, you would have lost more than you could have gained.

Basically, investing regular amounts on regular intervals is what cost-averaging is all about. It does lessen the risk of losses and has a high probability of gaining, but it still depends on the time and price trend upon your entry.

This is not entirely true, you never lose unless you sell. The problem is, are you willing to wait whatever it takes? Because if you invest money that can be "lost" or "frozen", ie. long term investment, you probably has no issues waiting years or decades. Of course that only works with your own money, not talking about margin trading.

Buying a little bit everyday simply spread things out. Long term bitcoin price goes up, so yes it should work fine. Even if you bought a few coins at nearly 19k most would have been bought 3k~12k prices the following years anyway.

If you are in for the long term, the price is nearly irrelevant. Bitcoin excels for long term savings. Fluctuations beyond its "natural" market price don't last long anyway, so most the time you would be buying at fair price, sometimes you will get expensive but also sometimes cheap, i guess they average in the end.

Agree, if you buy a 0.001 bitcoin the value could change over time but it is still 0.001 bitcoin there will be no problem if you don't sell your bitcoin at a low price in the market.

[romero121]

No one could've followed these kind of calculated savings on bitcoin for such a long time period of five years. Before five years people weren't much aware of bitcoin as now. Maybe from now onwards saving $10 in bitcoin considering the 2024 halving will get good earning out of it.

Same as bitcoin I believe there more chances for the top listed altcoins to give good profit out of the investment. Small droplets make an reservoir. With bitcoin same can be experienced with the small amount of regular savings giving a big return.

[maydna]

This market is one of those that favour strong hands and dedicated investors.

For those of you who complain about Bitcoin not even being worth 10 thousand dollars after reaching 20 thousand 2 years ago, you could make a small fortune in 2019 and early 2020 by simply buying and holding. Bitcoin gave uyou so many opportunities for that by staying below 6000 dollars for months and then going close to 10 thousand on multiple ocasions. If you were lucky you could even catch that 14 thousand pump and triple your money!

in the future potential, we believe that bitcoin will rise, so that even if we invest $ 1 every day, of course it will still benefit. I think that would be better than saving money on fiat currency. the main thing is that your investment for a year will not be consumed by inflation

If he can buy bitcoin from 2018 and still hold his bitcoin until now, he will see that his investment value will grow, and he can make a big profit at the end of his investment. Let say, from 2018 to 2019, he used $365 to invest in bitcoin plus if he can invest the same in 2019 to 2020, the total money he used will be $730 in bitcoin, and if he calculated with the bitcoin price, I guess that his fiat value will increase from day by day.

But that will need a big effort to invest in bitcoin every day because not all people can constantly use his money to invest in bitcoin every day. Perhaps, he can invest in bitcoin every month with some money so that will help him to gain the benefits from his investment.

[carlisle1]

i start investing 10% of my monthly wages in Bitcoin and 3 other currencies more than a year now,and i can relate on this story as i am now in good profit(though i am still holding my coins up to now)
i still have no plans of getting out until my target Prices reached.
i trust crypto more than my Banks but of course i only limit my investments for my own safeties.though if this Halving Gives more than 2017 ?i will consider taking out my investments and wait when market falls down again to re invest.

[iram3130]

I used to do this in my early college days, I made some $2000 by investing 10$ every week in BTC. I just bought them in exchange from the salary I was getting. Did that even when I was in loss or profit, kept buying it every week like people do in SIP for mutual Funds.

The key point in this strategy is consistency. If you are buying consistently then you will be in the profit at the end of a certain period. I still regret stopping that because of my family issues.  

[White Christmas]

this is for those person who has enough perseverance and also dedication in each they do,specially when they are still newbie here in crypto,lets all admit that Cryptocurrency only Boomed in 2017 when the Hype from the Bullrun in which effect of the Halving happens,many people take the advantage of getting money instantly since market is continuously growing that year.

That's right let's be honest for ourselves that investing 1$ every day in cryptocurrency will be for those person who is really dedicated on how they want to earn money, perseverance and will was the key for the continuously investing to bitcoin or other cryptocurrency day by day. Yet 1$ is just a piece of cake for us but still the urge to invest on it everyday was kind of lame so what I am saying is this is just for those person who have the urge to invest it continuously.