What would happen if you invested a $1 in Bitcoin every day for 5 years

[Bitcoinenthusiasts23]

Just a Fact that investing in 1$ in bitcoin every day over the last five years could actually give you a profit of $20,405, just investing or spending over $1,858 in bitcoin...
Of course, this doesn't involve transaction fee but still, it was just 1$ investment every day or just like buying a coffee every day you could already accumulated more than $20k of bitcoin.
It is interesting to note that this could be a decent strategy for those that want to buy at every price without going through the risk of buying too much at a too high price. Considering that Bitcoin may one day (hopefully) be worth more than a $100K, this could still be a viable strategy.
Let me know what you think of this in the comments below.

[Charles-Tim]

What about the transaction fees for the daily investment? The worth of the transaction fees alone over 5 years will be good even as an investment. It will be good to have a better plan like investing every month, or every 3 months, or every 6 months to a year. But as for me, I will not even still consider this to be accurate.

We all know if someone really study the price of bitcoin very well technically, he will know the right time to invest. When people even make use of trading such as swing trading to gain, all they do is to analyze the price and buy at the right time. Experts can only be very patient, make the price of bitcoin to dump and then invest. The best time to invest is when people are very afraid to invest when the market is red as bitcoin price is falling.

Although, we all have different professional strategies, but even if we are going to invest, investing at the periods when the price is decreasing but has also decrease a lot is the best time even if you will invest at certain interval of time. But, daily investment is not advisable or recommendable. To invest $1 daily will not be encouraging while paying transaction fee.

[Bitcoinenthusiasts23]

What about the transactions fee for the daily investment? The worth of the transaction fees alone over 5 years will be good even as an investment. It will be good to have a better plan like investing every month, or every 3 months, or every 6 months to a year. But as for me, I will not even still consider this to be accurate.

We all know if someone really study the price of bitcoin very well technically, he will know the right time to invest. When people even make use of trading such as swing trading to gain, all they do is to analyze the price and buy at the right time. Experts can only be very patient, make the price of bitcoin to dump and then invest. The best time to invest is when people are very afraid to invest when the market is red as bitcoin price is falling.

Although, we all have different professional strategies, but even if we are going to invest, investing at the periods when the price is decreasing but has also decrease a lot is the best time even if you will invest at certain interval of time. But, daily investment is not advisable or recommended. To invest $1 daily will not be encouraging while paying transactions fee.

What if you buy $360 worth of crypto for a year and then market buy with $1 each day?
Most people don't know when to buy or sell hence its an alternative.
 If you like this idea, feel free to award it merit.

[Barbut]

I think investing into any other of top crypto would also bring nice profit. 1$ per day doesn't seem much, but let's be honest, who do so?! Nobody. The most of investors prefer to invest a big sum at the moment or by little but monthly.
I remember there was a story years ago, like if you do not smoke you could spend a holiday in Prague for those money that you usually spend on cigarettes, and after follow the question like: Ï do not smoke at all, why I am not on Maldives then?!" That's funny, but such economy doesn't work in reality indeed.

[The Cryptovator]

Saving every day isn't a good idea for bitcoin if the amount is like $1/$2. You may follow the traditional bank deposit system where you will have to make a deposit every month. It's because of the main fact of the bitcoin transaction fee. If you want to save every day $1 then you will have to pay a fee every day more than your deposit amount. So that's how you will lose more than your deposit.

The idea you have described is quite good just need to modify the amount and duration. It would be a decent amount near the future since bitcoin price has been increasing day by day. It would be an easier way to save money and it will not much effect on your daily life.

[buwaytress]

Yes to cost averaging all the time. I don't exactly buy fixed amounts all the time but since earning in 2016, and setting as much aside as possible I've long term made more than had I kept that savings in fiat. Bitcoin people know this well, long-term, nothing beats Bitcoin. Longer-term, Bitcoin gets even more attractive.

Keep stacking, but of course, don't be afraid to use.

[Oasisman]

~snip~

What if you buy $360 worth of crypto for a year and then market buy with $1 each day?
Most people don't know when to buy or sell hence its an alternative.
 If you like this idea, feel free to award it merit.

How about saving $1 fiat everyday, then buy Btc when there's a price correction. That way you'll be able to save yourself transactions fees and the price swings. You can't calculate your profit precisely due to Btc's volatility, If you're buying $1 Btc every single day.
IMO, it's not really hard to find a good entry point, If you're mindset is set for a long term perspective. Btc is bound to break most of this bullish predictions.

And, If I'm not mistaken, you're begging for merits already, and that's a big NO NO in this community.  

[Lucius]

Any strategy that makes a profit in the long run is good, and investing in Bitcoin so far has not only been profitable for those who did so in late 2017 and early 2018 when the price was above $15 000. Literally investing $1 every day in buying BTC makes no sense, but considering the price from 2015 to date we have a range of $200 (or even lower) to as much as $20 000.

The calculation is quite clear, for $360 you could buy almost 2 BTC 5 years ago, during the first half of 2016 that amount was halved, and by the end of that year the price was as high as $1000 and this is the last time we had the opportunity to buy BTC cheap. At the time, some said that anything under $1000 was a cheap investment - today it may be the same thing with a price of $10 000 if we consider the period of the next 5 years.

If we look at how fast fiat is losing its value, everyone should ask themselves how much its savings will be worth in 5 years - I believe that by investing in BTC, its value can be preserved and increased.

[mk4]

Buy bitcoin on the daily sounds good in paper in terms of averaging for the long term, but it's too much of a nuisance. It's far more viable to do it weeky or monthly.

With that said, though some more experienced investors would prefer lump-sum investing, dollar-cost averaging(DCA) is still one of the best investing strategies especially for the inexperienced investor because you literally don't have to think about timing the markets. You just buy in anyway weekly/monthly regardless of what the price is.

[TopTort777]

As see topic has been edited, as a gambling casino sites was promoted in first post.

Back on topic - investing 1 dollar a day is something that most people can afford and I would risk doing it just to test it. Loosing few hundreds of dollars is not a big deal, while you have a chance to multiply investments.

At first I will do it for 1 or 3 months. Just to see how things will be going. The hard part is - not to forget to do it daily, as it might be something you might skip for other more important tasks. Other thing - it requires a lot of moment just to make this 1 dollar daily investment. Login to exchange, get your card, fill the info and buy some Satoshi (as doing this once a month and making 30$ worth investment will ruin all the experiment).

[Bitcoinenthusiasts23]

~snip~

What if you buy $360 worth of crypto for a year and then market buy with $1 each day?
Most people don't know when to buy or sell hence its an alternative.
 If you like this idea, feel free to award it merit.

How about saving $1 fiat everyday, then buy Btc when there's a price correction. That way you'll be able to save yourself transactions fees and the price swings. You can't calculate your profit precisely due to Btc's volatility, If you're buying $1 Btc every single day.
IMO, it's not really hard to find a good entry point, If you're mindset is set for a long term perspective. Btc is bound to break most of this bullish predictions.

And, If I'm not mistaken, you're begging for merits already, and that's a big NO NO in this community.  

Begging for merrits? I've merely said 'if' you 'like' then and only then. Stop being a baby

[Bitcoinenthusiasts23]

As see topic has been edited, as a gambling casino sites was promoted in first post.

Back on topic - investing 1 dollar a day is something that most people can afford and I would risk doing it just to test it. Loosing few hundreds of dollars is not a big deal, while you have a chance to multiply investments.

At first I will do it for 1 or 3 months. Just to see how things will be going. The hard part is - not to forget to do it daily, as it might be something you might skip for other more important tasks. Other thing - it requires a lot of moment just to make this 1 dollar daily investment. Login to exchange, get your card, fill the info and buy some Satoshi (as doing this once a month and making 30$ worth investment will ruin all the experiment).

Thank you for pointing that out lol yeah I removed the shill.

[rexxarofmoknathal]

The only way this can be practical and thus taking into account transaction fees is if you put you 1$ into a pot and at the end of every year you buy in.
The issue with doing this of course is the capital depreciation over time where the initial 1$ would be worth less and less. Also, the fact that the market price might get inflated several times is not taken into account.
So while theoretically this sounds possible, in practice it is almost impossible.

[NeuroticFish]

What if you buy $360 worth of crypto for a year and then market buy with $1 each day?

Buying smaller amounts at different times is usually better since it helps avoid buying "all" at the higher price.
Of course you still have to make sure you buy in a way you avoid paying big minimum fees (or round up) here and there and obviously withdrawing will have to happen when higher amounts are gathered (and here the "once a year" option can be OK).

[Darkelf11]

If you do that, without a doubt, you'll end up wasting away your money because of the transaction fee that you need to pay for every day that you are investing worth 1$ of bitcoin. Why not make it every week or month? Fees are less, plus it's not time consuming, not saying that everyday of dollar investing for bitcoin is time consuming, but if you do it in not daily basis, you'll save more time. See? You saved more time, you also saved money. For me it's not a good idea.

[royalfestus]

There is already a thread that treated this topic and was started this year.
https://bitcointalk.org/index.php?topic=5222895.0

[20kevin20]

Sounds nice in theory, and could've been an option years ago. However, today our options of purchasing BTC are way more restricted. In Romania we had ZebraPay that once allowed you to purchase BTC worth a minimum of 1 RON (~$0.25). Many months later, they rose the minimum purchase amount from 1 to 50, to 100 and then to 400 RON IIRC. Anyway, the minimum amount became a bit too high at one point for smaller purchases to be possible. Today, ZebraPay does not sell BTC anymore - it was great when they did, because we have their kiosks nearby no matter where you live in larger cities.

The amazing thing about this slow-paced and minimum investment plan is that you literally just pretend you're buying one more coffee per day and put that money in BTC instead. If it's going to keep the same pattern it did for the past few years, a similar profit as in the OP could be realized. Just imagine turning 3 coffees a day into a sum large enough to purchase a nice European apartment or house within 5 years!

[Serious475]

It quite confusing because every time you make an investment with one dollar there is a transaction fee it looks like half of your daily funds goes into the transaction fee. Also this is not recommended because there is a chance you will lose a large amount of money if you make an investment with the higher marker price.

If some of the newbies read this I think this may lead a misinformation to them. One of the best way is to take an investment when you think the market is low and sell it high.

The only way this can be practical and thus taking into account transaction fees is if you put you 1$ into a pot and at the end of every year you buy in.
The issue with doing this of course is the capital depreciation over time where the initial 1$ would be worth less and less. Also, the fact that the market price might get inflated several times is not taken into account.
So while theoretically this sounds possible, in practice it is almost impossible.

It's better if they save their money on the pot at least they don't have any transaction fee lol. Dollar a day into a bitcoin is not worth it. 

One dollar a day on bitcoin keeps the profit away. 

[tranthidung]

What if you buy $360 worth of crypto for a year and then market buy with $1 each day?
Most people don't know when to buy or sell hence its an alternative.

Charles-Tim made his points and I agree with him. To invest, you need to buy bitcoin and you need to make transactions. Transactions in turn require transaction fee. Do you take into account the transaction fee for each of your buy order? I guess not.

On exchanges, there are usually different in fees for maker and taker orders.

With $1, what you will be able to buy (now with rate of bitcoin at $10522) is 0.00009504 BTC. The amount is not yet subtracted with fee on exchanges. Use $1 to buy BTC on Binance, ie. is it possible?  

It is impossible because Binance restricts the minimum amount at $10.  

Code:

. di 1/10522
.00009504

It has not yet taken into consideration the transaction fee on your bank account, credit card, etc.

Do you want to repeat such $1 buy order for 100 times before you withdraw your BTC ($100 - trading fees - withdrawal fee) to your own wallet? Store your BTC on exchanges for long time is not a good idea.

If you like this idea, feel free to award it merit.

I am sorry but is it what you aimed at initially with the topic? I don't think merit sources would like to send merit to such merit begging posts.

[Oasisman]

~snip~

~snip~

~snip~

Begging for merrits? I've merely said 'if' you 'like' then and only then. Stop being a baby

Uh oh. Are you mad? Does warning you about mentioning for merit sounds like a baby for you? then be it. I'm just warning you, for your own good. No offense. Don't get mad too quickly.
Stablished members around this community already knew when to give merits, you don't need to mention it, coz it sounds like you're asking for one.
Look, I'm sorry If my words offended you, but I'm just stating what is rightful. I hope you've understand.