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Author Topic: Start with the little you have, you don't need millions of dollars to own BTC.  (Read 546 times)
Franctoshi (OP)
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November 16, 2023, 08:17:34 PM
Merited by Lida93 (4), CryptopreneurBrainboss (3), EL MOHA (2), Antotena (2), darkangel11 (1), DdmrDdmr (1), m2017 (1), Jegileman (1)
 #1

If you are in dam need to invest in Bitcoin, you can buy with as little as $10 and above. Bitcoin is divisible, meaning you can own some fractions, and not a must you will buy the whole of it.
I was inspired to write this topic seeing some of my close friends who had shown interest in buying some Bitcoin some time ago, talk about how they want to invest a significant amount of money, one of them even told me that the little he can start with is $200, and which he missed the opportunity to buy BTC when the price was around $25k in the process of waiting to buy when he has up to $200.

So I guess we have plenty of people who are interested in investing in Bitcoin today but have this kind of mindset, and they want to start investing only with a huge sum amount of money and in the end, the money never gets completed the way they want it and these make them keep missing out on buying opportunities at this cheap price we have for a year plus now.

Bitcoin is created in such a way that you can invest even with as little as $10.
If You face this challenge, you can try out this method to achieve your investment goal in Bitcoin, which is saving some money in a Box and which some people found yielding positive results in the end, and believe me, with time, your goal will be met too if you properly apply this method of saving.

For instance, back then, There was a time when I wanted to save money for something crucial, so I gave myself a six-month target to achieve that, I started cutting down those unnecessary expenses of mine and started saving those side changes in a box, and after that duration of six months, guess what? I marveled at the amount of money that I saved in that box.

So what does that tell you?, it tells you that if you want to invest in Bitcoin but don't have that Big amount of money, give yourself a target and start buying with the little you have $10, $20, 30, $50 and above depending on what that suits your income, I promise you from my experience you would be amazed in the end with the amount of BTC you would accumulate for that 3 months, 6 months or even in 1 year you would give yourself.

The bottom line is that it is better to start buying now with the little money you have than waiting and the time passes by.
Bitcoin is still fucking cheap right now to compare the price it would be in the future.

Hope this can encourage someone who may find him or herself in such a situation.

R


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November 16, 2023, 08:29:07 PM
Merited by Franctoshi (1)
 #2

It doesn’t matter if you are a low net worth, low earning individual. You still want to avoid losing purchasing power of your savings don’t you. There is no better hedge than bitcoin so like you say OP, you can invest very little. If you are able to DCA for a number of years & be very patient, your money will do much better in bitcoin than it will sitting in the bank suffering from annual inflation.

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November 16, 2023, 08:40:12 PM
 #3

The core concept of this post is correct. Bitcoin is divisible to the eight decimal, which is lower than a dollar, making it possible to invest with what you have at a point in time and not move to altcoins with zero value.

But investing $10 is not very practical with the fees attached to it, except you choose to store them on a exchange which is not recommended. New investors would try to achieve a balance between investing with what you have, maximizing profits and hang optimal security.

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November 16, 2023, 08:40:39 PM
 #4

It is actually called the DCA strategy; in this strategy, you don't need to invest a large amount. It doesn't matter if you aren't rich; if you have good intentions to invest and hold, then any amount you can buy. If we don't have a large amount and can't afford to lose, then the DCA strategy is best for us. We can invest a portion of our savings and hold it tight until we have good profits. If you are looking for a bottom, then you may not find it because Bitcoin is unpredictable anyway.

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November 16, 2023, 08:42:03 PM
 #5

You have said my physical campaign awareness on bitcoin to people. A lady met me one day and Sid someone told her that for her to own a bitcoin she has to purchase it with the minimum of $4,000 USD and immediately I have to reconciled that mentality from her and told that she can invest with any form from $5 US dollar and that should be depends on the current dollar exchange rate and after the orientation she was very happy and took my number so she can call me to start the investment.

Yes many people have that misconception that it is only big amount can be used to invest in bitcoin but that is not true. In my country of you have #4000 which is equivalent to $5. Though I don't blame them because they are ignorant of the ecosystem.









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November 16, 2023, 08:44:45 PM
Merited by Franctoshi (1)
 #6

So I guess we have plenty of people who are interested in investing in Bitcoin today but have this kind of mindset, and they want to start investing only with a huge sum amount of money and in the end, the money never gets completed the way they want it and these make them keep missing out on buying opportunities at this cheap price we have for a year plus now.

After reading this your post, many still won't buy as they'll consider the money they have at hand not big enough to buy some Bitcoin. Human beings are used to buying something's at whole instead of fractions and that just happens subconsciously. One thing people's are yet to understand is that you're better off dollar cost averaging than buying at a go because you buy more quantity f Bitcoin when you DCA. Don't wait until you have the amount you feel it's big enough to buy Bitcoin before you start buying, just buy and hodl.

Smart investor's don't wait to buy, they buy to hodl and the good thing about Bitcoin is that there's no limitation on the amount you can buy unless you're making use of a platform that sets a limit so they can make gains from commission (like trading fees on exchanges). You can always create a request on the forum and someone from you localized will be willing to sell Bitcoin for you and you pay with your local fiat.

The more you wait, the more you miss out on the opportunity to acquire Bitcoin at this price because this meant just be the last time we see Bitcoin trading this low again. Your investment capital should be that, that won't break your bank and you won't panic if the market doesn't go exactly as you expected in the short term so while you Invest make sure you're not over doing it or you won't be able to hodl to benefit.

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November 16, 2023, 08:47:34 PM
Last edit: November 16, 2023, 08:57:44 PM by AmoreJaz
 #7

The core concept of this post is correct. Bitcoin is divisible to the eight decimal, which is lower than a dollar, making it possible to invest with what you have at a point in time and not move to altcoins with zero value.

But investing $10 is not very practical with the fees attached to it, except you choose to store them on a exchange which is not recommended. New investors would try to achieve a balance between investing with what you have, maximizing profits and hang optimal security.

i believe that's one hurdle if you are buying small amount of btc from the exchange and you want it to transfer to your own wallet as the fees are quite expensive. but if you will store it first to the exchange, and just transfer later on, make sure the exchange is at least reputable and has insurance. because it is quite risky leaving your funds in third party platforms.
but the idea of buying small fractions is i guess actually being done by a lot of crypto enthusiasts already, particularly those who have tight budget but are strong believers on this market.

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November 16, 2023, 08:51:14 PM
 #8

 Bitcoin investment does not require a huge amount for you to be able to make an initial investment. Just start with a small amount at first, an amount that you are comfortable of losing. And by doing DCA, you will continue to increase the volume of your investment throughout the years. That's the easiest way so you will find your bitcoin investment grows despite of your little cash onhand.

 This is the reason why bitcoin investment is not only limited to rich but even poor and average individuals are free to invest. As long as you know the type of investment you are entering and you know how it works through long term hodling, then I guess your money will be safe as long as you don't resort into panicking and selling your coins at a wrong timing.
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November 16, 2023, 08:54:40 PM
 #9

It's more like what we call DCAing (dollar cost averaging) which means buying regularly a portion of Bitcoin which is largely supported by many members of this forum there are other method one can consider when investing on Bitcoin which are listed by JayJuanGee in his thread
Once BTC accumulation targets are either established or at least there is some directional appreciation that you have to accumulate some bitcoin, then the next strategy would be to consider how to go about BTC accumulation.  Surely, the best three ways to consider BTC accumulation is through 1) dollar cost averaging (DCA), 2) lump sum investing and 3) buying on dips.  The consideration of these three strategies is also best in the order that I presented them.  DCA has the advantage of having a kind of regular flow into your BTC investment that can really add up over time.  Lump sum investing is many times not available for the vast majority of normies, and sure of course, if you have some abilities to lump sum invest there is nothing wrong with exercising such option because having a lump sum gives you options to invest it all at once or to even engage in some kind of DCA approach with investing the lump sum over time rather than all at once.  Buying on dips is not a bad idea, but it requires timing the market

But your method though still supports buying in a whole because saving in a box before buying will still end up trying to buy in a whole which is not what anyone should be advised it better to buy regular because time matters if you don't buy at a point which you have the money something more important than saving might rag off your savings like health issues that is why we more support DCAing.

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November 16, 2023, 08:55:38 PM
 #10

because it is quite risky leaving your funds in third party platforms.
It's not "your" funds if they are being held by a third party. But as I mentioned finding a balance that works is the best option. Leaving them on an exchange up until it will not be too expensive to transfer out, this is my opinion is when the cost of the transaction is less than 10% of the transaction amount. This could means for a period of 2-6 months you will be totally deoendent on the third party.

The downside of this is users get complacent and decide to just leave the funds on the exchange, pointing out that it has been safe during the period they left them there.

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November 16, 2023, 08:59:07 PM
Merited by Franctoshi (1)
 #11

If someone is able to buy bitcoins in large portions due to their financial capabilities - then I don't expect it to be a wrong action. But of course - buying with a lump sum is not always good because the price of bitcoin can fluctuate sharply and can be lower than the previous purchase price. The DCA strategy is supposed to help them buy at a lower average price - but even if they want a lump sum then that's not a mistake.

I understand the point of this thread - of course one doesn't have to have million of dollars to start investing in bitcoin, but even with $10 they can start. If I can afford $50/week, then I won't push to buy $100 or more - but buying as much as we can afford without interfering with other priority needs will be fine compared to holding fiat.

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November 16, 2023, 09:02:00 PM
 #12

For an investor to start his or her investment plans with a $10 capital, the investor is just applying the DCA method to his investment, an investor don't need a lot of money to start bitcoin investment, this is the most interesting part of Bitcoin investment, there are other investments out there that one must have a hundred box or a thousand box before he or she can start to invest it them but Bitcoin isn't like that.
But there are things that most of us don't understand is that one must have something doing before he or she can invest into Bitcoin, in my local board, I have come across this post economy affects Bitcoin investors, and it's true, that is why I said one must have something doing before he or she can invest into Bitcoin.
As many people believes that they can invest any little amount of money into Bitcoin that's why even the jobless ones invest into Bitcoin even when they know that they don't have the money to accumulate.

R


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November 16, 2023, 09:08:10 PM
 #13

You don't need to own instantly a big amount of bitcoin in your wallet. In fact, a lot of bitcoin hodlers do not start with a big purchase but only with an amount that they can easily afford to lose. That's the secret in any investment, know your limits most especially if you are still in the process of learning your investment. You don't need to rush owning a bag of bitcoin, you will definitely achieved it in time through patience and market understanding.

They say bitcoin is only for rich and high status in the community, but we all know its not. That's the good thing about bitcoin. You are free to invest even with a small amount of penny but never expect for immediate profits but be more open for initial losses. That way, you will be able to overcome the risk to lose.


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November 16, 2023, 09:09:04 PM
 #14

exactly the point is to enter the market with a value as cheap as possible

if you saw the opportunity then don’t say money is hindering you even 50 usd can go a long way just be patient, don’t get emotional and remember that you should only invest what you can afford to lose

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November 16, 2023, 09:15:19 PM
 #15

Just note that you don't need to choose DCA if you can afford it. This is a misconception that makes people DCA, when they could be buying in a normal way. DCA is for people who don't have savings, but have steady income, which allows them to spend a certain % of that income every week or every month, depending on how they get paid.
People who have a million dollars in the bank will not benefit from DCA, it's the other way round. In most situation dividing your capital into 3 or 4 parts to buy in bulk every time there's a significant drop in price will give you a much greater profit.

I agree with OP about buying what you can because 2 most common things people keep repeating about investing in bitcoin are:
It's too expensive, I can't afford it
I'm too late

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November 16, 2023, 09:15:35 PM
 #16

I literally started with peanuts worth of crypto. Since I was a broke high school student when I started my crypto journey. Most of the money that I collect and save for my portfolio came from signature campaigns in this forum, where the majority is spent for my daily expenses. I learned about DCA and started doing a variation of this investment practice that worked for my budget, since the main consensus is that all you need to do is consistently put money to your investment pool, regardless of how much it is.

Eventually it all paid off and now I can proudly say I comfortably live off of the hard work and crypto that I accumulated over the years. I wouldn't have come to this point if I complained about my situation and wished for more. Sometimes, working with what's given to you's the best thing you can do.
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November 16, 2023, 09:31:38 PM
 #17

~
The low income earners who cannot afford high end investments have an opportunity with bitcoins. Bitcoins has provided an opportunity for everyone from all financial levels of life to be able to invest no matter what you earn. This opportunity has made it possible for some people to have a change of financial status and make it possible for others. People who do not have a lot of money and no other investments ought to be more serious with investing any little money they can spare because bitcoin provides the same opportunity that the investment other people have provides for them.

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November 16, 2023, 09:39:32 PM
 #18

If you are in dam need to invest in Bitcoin, you can buy with as little as $10 and above. Bitcoin is divisible, meaning you can own some fractions, and not a must you will buy the whole of it.
I was inspired to write this topic seeing some of my close friends who had shown interest in buying some Bitcoin some time ago, talk about how they want to invest a significant amount of money, one of them even told me that the little he can start with is $200, and which he missed the opportunity to buy BTC when the price was around $25k in the process of waiting to buy when he has up to $200.

So I guess we have plenty of people who are interested in investing in Bitcoin today but have this kind of mindset, and they want to start investing only with a huge sum amount of money and in the end, the money never gets completed the way they want it and these make them keep missing out on buying opportunities at this cheap price we have for a year plus now.

Bitcoin is created in such a way that you can invest even with as little as $10.
If You face this challenge, you can try out this method to achieve your investment goal in Bitcoin, which is saving some money in a Box and which some people found yielding positive results in the end, and believe me, with time, your goal will be met too if you properly apply this method of saving.

For instance, back then, There was a time when I wanted to save money for something crucial, so I gave myself a six-month target to achieve that, I started cutting down those unnecessary expenses of mine and started saving those side changes in a box, and after that duration of six months, guess what? I marveled at the amount of money that I saved in that box.

So what does that tell you?, it tells you that if you want to invest in Bitcoin but don't have that Big amount of money, give yourself a target and start buying with the little you have $10, $20, 30, $50 and above depending on what that suits your income, I promise you from my experience you would be amazed in the end with the amount of BTC you would accumulate for that 3 months, 6 months or even in 1 year you would give yourself.

The bottom line is that it is better to start buying now with the little money you have than waiting and the time passes by.
Bitcoin is still fucking cheap right now to compare the price it would be in the future.

Hope this can encourage someone who may find him or herself in such a situation.

People would really be that missing out opportunity because of those wrong assumptions because of that lacking of experience and knowledge about it. This is the mistake of those people who dont make out some in depth research before they would really be making out such decision.If they are really just that aware that they could be able to buy up in fractions then they wont really be missing out on buying into those times where
the price is still $25k but well whats done is done and there's nothing we can do about it. There are really just those people who do miss out on taking up action just because of lacking knowledge and awareness of things.

When it comes to investment with Bitcoin then you wont really be needing that whole coin for you to be bought up.Just like been said that it could really be done in fractions on which means that if you are really that
going for long term then buying up in small scale would do. You wont really be caring about the price entry you are buying since you are really that going for long term aspect.
There are really just those people who would really be targeting out on buying a whole coin which we know that not all would really be able to afford on doing so.
For me, i do even struggle on saving up 0.1 basing in my own salary and expenses on which icant really be able to save up that so easily but doesnt mean that it would be impossible
on doing such thing, you can do it on gradual manner. It all matters with your own approach.

R


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November 16, 2023, 09:43:12 PM
 #19

It is actually called the DCA strategy; in this strategy, you don't need to invest a large amount. It doesn't matter if you aren't rich; if you have good intentions to invest and hold, then any amount you can buy. If we don't have a large amount and can't afford to lose, then the DCA strategy is best for us. We can invest a portion of our savings and hold it tight until we have good profits. If you are looking for a bottom, then you may not find it because Bitcoin is unpredictable anyway.
many of the new uninformed investors are missing the ideal concept of DCA, the misconception for them is that they think you must have a certain amount before you start to DCA or DCA each of the time. But apparently it's not like that.

DCAing demands whatever amount you can use to add to your investment it mustn't be specific amount as in $100 each of the week or month as the case may be, but rather any amount ranging from $10,, $15, $20, $19, $30 on and on.

Sticking to a specific amount before DCAing can make an investor miss the dip in the market that before he can make up to the specific amount the market price would have rised above the dip as it were. The DCA can be likened to a savings box otherwise known as piggy bank any amount can be put into it.


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November 16, 2023, 09:43:17 PM
 #20

Most people who are new to and interested in Bitcoin think what the OP said. This also happened to several friends in my work environment, who ended up missing the price of $16K - $20K - $25K - $30K, yes with the same problem because the money target for buying Bitcoin had not been met, even though I had given them the understanding that we could buy Bitcoin in fractions. This is just their own decision, I have explained and given some directions, but all investment decisions are up to them, even if they are late in entering and get a price of $35K, this could be a lesson or motivation in purchasing/investing in Bitcoin in the future for them.

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