How many dollars are needed to trade between Bitcoin and US dollars?🥏🚀

[Negotiation]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

[Oshosondy]

You need to explain better. Do you mean as a beginner trader?

If you are a beginner in trading, and even if you are not a beginner in trading, the amount advised to trade with is the amount of money that you can afford to lose. Let it be very small amount of money. Only increase it little by little if you are making profit from it.

[Negotiation]

You need to explain better. Do you mean as a beginner trader?

If you are a beginner in trading, and even if you are not a beginner in trading, the amount advised to trade with is the amount of money that you can afford to lose. Let it be very small amount of money. Only increase it little by little if you are making profit from it.

Well said, I'm not talking about complete beginners, I'm basically looking for an overall experience. Here you say that with a small fund you can make a small profit, that is correct. But is it really possible to do proper money management with a small fund?

[palle11]

but how much dollars can you actually start with or is it better to start with?

This is my understanding of this thread. You are simply asking how much deposit to have before you can trade BTC/USD pair. Or how much fund to transfer before you can trade on it.

What is your experience in this regard?

I believe it depends on the amount you have there before a trade on such pair can be executed. I think there was a time I ran low of balance below $100 and I tried executing a trade on the pair and it was insufficient fund. You know how expensive btc is so I believe the start up could have limit. Maybe you can try something within $200 or $300 on a leverage account. But use SL to avoid losing all your money.

 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

Who says money management can not be done very well with little investment? It is very possible just as it will be in a big investment or account.

[DPHOR]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

If you want to trade or invest on Bitcoin what you need currently as minimal amount is 10$, meaning you would have to add additional 1$ to make it $11 which is to covers trading fees and withdrawals fee as well.
In most exchanges especially Binance, you need a minimal of 10$ to be able to withdraw to external wallet or internal wallets, I am talking from experience while using Binance exchange, I do not know of other exchange requirements but as the most trustworthy exchange I see that is their requirements although other exchange might be lower than.

[joeperry]

Well said, I'm not talking about complete beginners, I'm basically looking for an overall experience. Here you say that with a small fund you can make a small profit, that is correct. But is it really possible to do proper money management with a small fund?

Yes of course. Personally having a small fund actually makes me better in money management since having a bigger budget tends me to do be an impulsive trader and makes me terrible in decision making. This is only based on my personal experience, what works for me is to have around $20-$100 budget per week and knowing that I have limited resources, it makes me more careful and actually my goal is to survive the week without losing it all and have a little profit. It actually works for me as I sometimes managed to double or triple it through leverage but of course there are times that I lose it all in just 2-3 days of trading.

To make it short, it actually depends on the trader as we are not all the same but for me around $20-$100 per week. But if you're going for technicality the minimum trade you can do to trade Bitcoin to USDT is $10, I'm using Binance by the way, lower than that is not allowed.

[michellee]

No exact amounts because that will depends on how much money you can afford and how big risks you can takes. Trading without knowing about money management will not be good because you may use more money no limitations. That is danger because you can risks your financial especially if you lose all of your money.

You need to set how much the money and have skills to analyze in trading. $50 is good for beginners and try to grow the money. While $50-$100 is good for intermediate traders to trade constantly. But you should know that you can't always make a profit in trading especially if the market are difficult to analyzes and predicts. You need to set initial money you will use to trade by yourself.

[lovesmayfamilis]

I'm not a trader, but I have examples of different people. Some might start with $10, build some experience, and develop analytical skills, then continue trading with that amount. Others start with a large sum, thinking they'll master trading overnight, and end up losing everything. As an observer, I believe that if you're willing to lose, learn from experience, and not give up and start again, you should have a pretty decent amount. I've yet to see beginners master trading skills so quickly, as trading requires a lot of knowledge, including psychology, analysis, and the ability to develop your own strategies.

[jossiel]

what is the minimum amount they should invest in?

Exchanges where we can buy bitcoin usually have that $10 minimum per trade. It differs per platform that we use but I think that's the usual minimum amount that one can spend for trading.

But think of the fees by doing that trade and you're not going to see an impact of that trade if that's the amount you'll spend each trade you do.

If it's someone who's looking to invest, a consistent $10 maybe every week or every other day can be big someday.

[AbuBhakar]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

The question is, for what purpose are you buying? If it's just to accumulate, it's possible, even if it's just a small amount, even if it's just the minimum amount of exchange that you'll buy, then add it little by little until the amount of bitcoin you hold is enough for you. But if your goal is to gain profit right away from the investment you will use, maybe it will be a little big for me to start with at least $500. Because of that, when you convert, every time the price changes, you can see that you are really making a profit. If its morthan that, it will be better, but that is up to you and how much your target is for weekly or monthly trade.

[Arenga pinnata]

I think it varies greatly. Maybe between 10 USD or more. It could even be less than that. It depends on the minimum limit policy set by the exchange used.

In trading, everything is important. Experience, capital, time, emotional management, money management, risk management, and so on. so if someone mentions one of these things, then yes, that's true. However, everyone has their own weaknesses. Some struggle with emotional control, others with money management and sometimes there are those who don't know how to manage the risks they can and cannot handle. so, yes, things can sometimes differ between one person and another, even though the key points remain the same.

[logfiles]

The problem is you are focusing on the amount or the profit in amount (USD) but the truth is the amount does not really matter. What matter is the percentage profit (or loss in case of a bad trade) or ROI
If you can do so well with lets say 20 USD and turn it into 40 USD in let say a month then you are doing way better than someone who's turning 100 USD to 120 USD in a month.

Also, it's better to trade with the amount of money you can afford to lose.

[iBaba]

You need to explain better. Do you mean as a beginner trader?

If you are a beginner in trading, and even if you are not a beginner in trading, the amount advised to trade with is the amount of money that you can afford to lose. Let it be very small amount of money. Only increase it little by little if you are making profit from it.

Well said, I'm not talking about complete beginners, I'm basically looking for an overall experience. Here you say that with a small fund you can make a small profit, that is correct. But is it really possible to do proper money management with a small fund?

Sometimes when we have discussion like this on small money or funds, I used to tie it to what you as a person see as a small fund which is basically based on one's standard of living. For example someone like me now will see 100 dollars as a big fund for a weekly budget but another person will register it as a small fund depending on their financial capacity.

But what is best is for you to identify based on your financial capacity what a small funds is to you and make your own decisions based on it. If 10 dollars is what you see or 5 dollars is what you can afford to save as a small funds, maintain and make sure there is no week or day if it's daily that will pass by without you saving it, once you are able to do that, you will hardly have issues managing your finances whatsoever.

[HelliumZ]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

It certainly depends on what kind of trader you are, especially if you are an experienced trader then you can take the budget you want, but if you are a new trader then you do not need to take a large amount of dollars into your trading account.

If you are experienced, then you should definitely take dollars for trading from the balance of the amount of loss and risk you can afford. And if you are inexperienced and do not have the mindset to take risks, then you can try trading with a very small amount of dollars as an experiment.

[lixer]

Minimum of whatever you can deposit and allowed to trade in an exchange. Last I remember it was something like 10 bucks was it? Or maybe 20 bucks? There is a minimum that exchanges allow you to trade and whatever that number is in the exchange you want to use, that is the number that you have to use.

This is why there is nothing to worry about and you are going to do a fine job. I know that this isn't simple to accept that such a small amount could matter, but if you start now, then you will learn with small amount and be better for later when you have more money to put in.

[Cyber_warrior]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

You mean people should recommend the amount that you will be needing if you want to trade usdt to bitcoin? I don’t think anyone will recommend the amount which you are suppose to start with, that depends on you, you should start with something you can afford to lose, and everyone is different. The amount which you will be calling a huge amount of money, might just be something small to me, so the amount which you will be trading with completely depends on your financial condition.

[SmartGold01]

Trading is entirely subjective to individuals in regards to their experience and level of understanding towards trading, for beginners I would specially advised that they should be starting with at least $10 as most trading platforms today accept minimal trades of 10$, and of course it easy to build as anyone who could managed 10$ can as well manages 100$ or $1k to trades but when they lose the little then it is assumed that even with higher amount they could still lose them all. Profits making are directly subjected to the level of your experience in trading and if yours is low then your profits could actually be low as well.

[Josefjix]

I hate to give this kind of advise to people because I do not know their pocket, how much they earn and how much they have. The reasons also is knowing their emotional strength and how they can handle losses, some people aren't good at it, they may literally commit suicide and stuffs because of losses, who knows if he uses all his lifetime savings and all gone, I don't usually have the gut to trying to push someone into a line of confusion. No.

[Jewan420]

If someone wants to trade between Bitcoin and the US dollar here, what is the minimum amount they should invest in? Many people will give many opinions here, but how much dollars can you actually start with or is it better to start with? What is your experience in this regard?
 Many people say that experience is the most important thing here, while many others are of the opinion that investment is important along with experience, because money management cannot be done very well with very little investment.

The minimum limit for trading or buying Bitcoin on exchanges is $10, so you need to deposit a minimum of $10+. In this case, you can set the maximum limit depending on your ability. But make sure that what you are using is money you can afford to lose or prudent. Do not invest or trade based on how much money others are starting with and the experience of others. Because both of you have different situations and different knowledge. So focus on yourself. If you are ahead in terms of knowledge and luck is on your side, then even a small amount can be the reason for your success.

[LastKiss]

When you’re trying to get used to trading and looking for a good strategy then $100 should be enough. Once you’re already comfortable with trading and have found a strategy that make you comfort then $1,000 would be better. With $1,000, I can average down whenever the price drops through multiple support levels. For me, it’s similar to DCA, but with low leverage so I can average in to get a better return. Risk management is still important whenever I average down it’s better to do it near a strong support level.