1$ per day crypto investment plan any good ?

[Maliceprime]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

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[pakhitheboss]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

$1 investment into Bitcoin or any other cryptocurrency? I am aware of a $1 investment daily in Bitcoin for 5 years which can earn you a profit of roughly $20,405. It has been already discussed here - https://bitcointalk.org/index.php?topic=5222895.0

If any other cryptocurrency then which one would you invest in?

[mk4]

10% of your income is a fairly responsible amount in my view, so I'd say go with it. Just remember that with that amount, you're likely to not get rich with bitcoin, but it could definitely help boost your earnings by a good amount if things go fine.

Also quick reminder that you should be frequently looking for more ways to increase your current income or look for more income sources.

[sunsilk]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

If currently that's what you can afford, then that's better than having no plan of investing. It's a good start with that amount and my suggestion is that don't do it daily but rather save that up to a week and then buy it when the price seems to be down if you're going to buy bitcoin.

It's better that you have this initiative than have nothing at all. You can imagine this like as your savings but with a better choice because you'll be putting that bitcoin. And if you have any means of increasing your income soon, do not hesitate to add up that % from your daily income.

[TheNineClub]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

It really depends in what you invest. And for how long do you plan on holding on to that investment. So without knowing your specific goals and plans it's really hard to know if 1$ per day is good or bad. On paper it seems like a small amount, but just for clarification, if you invested 1$ a day during a period of 2 years in a bear market into let's say BTC or ETH, and then reap the rewards when the bull market starts, then that doesn't really seem that small of an investment.

[NeuroticFish]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

It's clearly better than nothing. "Enough" really depends from person to person and from country to country.

Also be aware that you probably won't deposit each $ separately, won't buy BTC for each $ separately and the withdrawals to your own wallet are not cheap, hence you'll have to check all the fees involved and plan accordingly. For such small amounts the fees can be a big problem, especially if you are not super-careful.

[Charles-Tim]

Also be aware that you probably won't deposit each $ separately, won't buy BTC for each $ separately and the withdrawals to your own wallet are not cheap, hence you'll have to check all the fees involved and plan accordingly. For such small amounts the fees can be a big problem, especially if you are not super-careful.

Exactly. Also I wonder what the fee for 1 input and 365 outputs (1 year) would be on noncustododial wallet. It would be better for Maliceprime to have weekly or monthly saving plan in a way this can be achievable.

@Maliceprime, this is the right time to have this type of saving plan, bitcoin has already plummeted from $69000 to around $40000. I will just advice you to never sell if you see the price plummetting more, just continue your saving plan so far you want to save for years, you will make profit from it in years to come.

[bakasabo]

I would say that it is definitely worth following your aim and make daily investments. In future, your efforts will be repaid. Will be like people "who buys lottery ticket every day/week during many years and one day hit jackpot". I only confused by the amount you want to invest. Any investment is good, but 1 dollar? How will you manage to buy $1 worth Bitcoin and not lose on fees ? I am sure that place where you going to buy Bitcoin has fees or minimum amount to be purchased. Fees are your main enemies. That is why I suggest to invest weekly instead of daily.

[Lucius]

The OP says it earns $10 a day, which means about $300 a month, which means it will set aside $30 each month to invest in Bitcoin or some other altcoin. Although it may seem like a small amount, I think it is quite enough to start with, especially if that amount is not something that significantly affects everyday life.

As other members have already mentioned, with such small amounts one should always be careful when it comes to fees for sending money to crypto exchange and in case of withdrawal of cryptocurrency in a non-custodial wallet. Therefore, the only logical choice for the OP is to deposit $30 each month on the crypto exchange, buy the cryptocurrency and then withdraw to his wallet after a few months. Of course, the OP can always choose the option to store coins on the exchange, the risk is always there, but it will certainly save on fees.

[YellowSwap]

It's better to invest weekly to cut down the sending fee to your custodial wallet every day, 1 dollar every day is 7 dollars per week which still makes sense.

[aysg76]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

That's very good that you want to invest your little amounts into crypto but what specific coin you are talking about to make these investments?

If i speak about coin then my advice is only for bitcoin rather than researching some altcoins which are mostly shitcoins that would not give any return to the users so take this into mind.I have been DCA investor for past few months and are carrying on my journey.This is friendly advice to you because if you understand bitcoin you would find its the best and feasible deflationary currency you could invest in.So go for it only.

Now the amount for you is $1 per day but the fees would charge you considerable amount so the best is to invest monthly $30 which is going to best option for you through DCA method if you are aware about it.The aim should be long term in your mind without the hope of selling immediately as you would have gained nothing from your stash.So wait for some times without getting panic from the dips and invest this amount.

You will have good amounts if you are consistent and beleive in bitcoin.

[Eternad]

It's better to invest weekly to cut down the sending fee to your custodial wallet every day, 1 dollar every day is 7 dollars per week which still makes sense.

People like OP usually can’t save money in long term unless they will remove already there daily savings out of there pocket. I can relate on this part because I usually overspending as long as I have money in my pocket. I believe the OP goal is intended to buy crypto in bulk but he will save in daily basis the 10% of his income so that investing in Bitcoin will not affect heavily his budgeting once he done it in one shot.

[decodx]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

When it comes to the DCA investment method, I think any amount is good if you stick to it consistently. Like they say, "It's not the amount of capital, it's the rate of return that matters". The DCA system works, but you need to take baby steps if you are just getting started.

[YOSHIE]

You have a big soul in the investment world, you have a strong desire to invest, $ 1 a day times 30 = $30 in 1 year you have saved $360, this does not count the profit from moving your investment to your crypto investment.

If you want to invest $1 in one day, honestly I support you in this, very rarely people have the desire and principles like you, Most of them want to get rich quick, just the opposite.
Advice: find the cheapest crypto and do $1 a day to invest, I am sure if you are patient in this, the next 2-5 years you will be a successful person with what you are trying to do.

[JeromeTash]

It's a good start and I would like to encourage you doing it, but I want to inform you that most exchanges have a minimum deposit, minimum withdrawal amount and minimum trade amount (10 USD for most exchanges)

So what you are going to do is gather the cash on the side then when it has gone to $30 or $60, you can purchase Bitcoin. Also avoid exchanges like Binance. They will charge you a withdrawal fee of 0.0005 BTC (currently 20 USD) if you are to withdraw to a noncustodial storage wallet, which is usually recommended.

FTX offers free withdrawals for certain amounts of Bitcoin.

[Poker Player]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

My friend, there are many things you are not telling us, and we cannot give you a proper answer without you giving more details. I understand that maybe you don't want to give too many details for privacy, but an adequate answer to your question depends on:

1) Your age.
2) Your current and projected future salary.
3) Where you live.
4) Savings/investments to date.
5) Debts.
6) Subtracting 5) from 4) will give you your net worth.

So, the question of whether a $1 investment is ideal is not going to have the same answer for someone who has an annual salary of $100K and a net worth of $500K as it would for someone who has an annual salary of $15K and barely makes ends meet.

Going to your specific case, from what little you say, it seems that this is the maximum you can invest. So, the question is: do you have an emergency fund for contingencies? If the answer is no, allocate that money to save at least one month's expenses and after that invest 1$ daily or $30 monthly.

It would be necessary to see if you also have debts, but well, if you want to give us more details and we will advise you.

[dkbit98]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

Enough for what, to buy red Ferrari or something else?
It's not a good idea to buy $1 of bitcoin everyday for several reasons, first is that you will have to pay fees for every transaction you make.
Much better option is to invest weekly, monthly or from your every paychek with dollar cost averaging system (you can repalce dollar with euro, yen, pound, etc).
It doesn't mean you will get rich doing this, but looking long term dollar cost averaging payed of very good if you are willing to wait for few years.
You can do your own calculations on dcabtc website:
https://dcabtc.com/

[Hypnosis00]

Is 1$ investment in crypto every day enough? I'm making up to 10$ per day and I don't want something that will tie me down financially since I have other things I'm using the money for aka responsibilities so all I can afford is 1$ per day, also is BTC the best option with this 1$ per day?

$1 per day? I suggest for you to keep that $1 until it reaches $100.
I know investing is a good plan but must it consist of a good strategy as well. Imagine spending $1 per day for investment and then paying more than $1 for the transaction, I don't think that was really good.

Timing and Capital are somewhat we consider upon investing. We don't need to push ourselves if we don't have enough to start. You don't need to do that for the sake of investment as surely there is a perfect time for you to begin with. Save you $1 per day, friendly advice.

[taufik123]

A good start when you have the initiative to save or invest $1/day. But the amount is still very small if done every day, my advice is to collect it first until it reaches a sufficient amount like $50 or you collect it once a week.
Buy bitcoins or coins that you trust every week regardless of the price, and this is included in the DCA (Dollar Cost Averaging) Investment strategy.
Use the money from your earnings to invest well, Bitcoin and Ethereum are highly recommended.

[RapTarX]

Exactly. Also I wonder what the fee for 1 input and 365 outputs (1 year) would be on noncustododial wallet. It would be better for Maliceprime to have weekly or monthly saving plan in a way this can be achievable.

Assuming that he will use a centralize exchange, there's no way OP can withdraw the bitcoin daily into his wallet because there's a fee related with the withdrawal & that's quite high as far as I'm concerned.
OP, if you are planning to buy for at least 5 years, I guess this worths. Otherwise, it doesn’t. You may eventually will find a good ROI but that's not going to be a handsome amount. I don’t know where do you live but $1/day saving for 5 years wouldn’t make a big amount I guess. Better try to purchase bitcoin now and invest some parts in altcoin when you get some good GEMS there.