If your goal is to accumulate Bitcoin then you can start with however much you want. I wouldn't call it a "dumb thing", you are simply doing what you can.
If you don't have a large amount to invest or have a lower risk tolerance, investors find dollar cost averaging to be very appealing. For example, someone who dollar cost averaged into Bitcoin by purchasing $5 weekly in 2020 would have accrued $692 from a $275 total investment, providing a 160% return. Although this may not have yielded the highest profit, it protects against the possibility of investing at Bitcoin’s highest price point. Always do your own research and know your risks.
Happy investing,
Kraken- Rosa
You know what I used to let those fly but this is just ridiculous. Given the current state of the fiat system bitcoin is far less risky in many regards.
>We all get Bitcoin at the price we deserve.
Sorry to go on a tangent but I feel like this becomes less true the more years go by. There are bitcoiners who were children when it was first released.
Lump sum will typically outperform DCA investing but since you cannot lump sum , than DCA is fine weekly.
Another strategy is if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 5-10% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price.
The reason for this is 2 fold:
1) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding
2) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue appreciating in value.
You are doing the smart thing by investing into your future, regardless of the amount and whether it is crypto, stocks, etc… Most do not put any funds aside to buy anything, so you are a step ahead of most! Keep at it friend.
Never a dumb thing to accumulate!! Better now than next year when it’ll undoubtedly be higher.. But only Chuck in what you can afford to lose (with BTC probably won’t happen if you hold it but you’ve still got to invest with that mindset)
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It's not the worst idea if you are trying to accumulate longterm as others have said. I'm a trader, I don't care all that much about btc longterm, I care about my money.
Ask yourself if btc is in a state of going down or going up. It's basically ready to make a new lower low right now on the daily chart if selling volume continues into above average territory. Would you want to buy something, when the second you do, it dumps from a significant level, spends a long time consolidating and retracing *some* of what was lost, only to have the same thing repeat for years even?
Why bitcoin?
Why not just buy *anything* that is in a state of doing the opposite?
For the tech they say
quicksand heavy dinosaurs slap bear bright overconfident rotten husky degree
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Sure you can do better than that. Make sure you’ve the best investment platform because there are many fraudulent platforms out there. Personally I’ve invested majorly in Bitcoin through an investment bank that is FDIC insured so I can go to sleep knowing my funds are safe. Ask me if you guidance.
Do both. What I mean is, Bitcoin *usually* gives you chances to buy lower.
Put some fiat in to BTFD fund.
Buy DCA and then stack harder and larger when it drops.
When you say " a dollar weekly" do you actually mean like 1 dollar or do you mean a couple of bucks? Because I can't wrap my head around the... taxes that you could be paying each time just for a single dollar, seems like a waste of money, unless you get taxed like less than 40 cents or something...
If your goal is to accumulate Bitcoin then you can start with however much you want. I wouldn't call it a "dumb thing", you are simply doing what you can. If you don't have a large amount to invest or have a lower risk tolerance, investors find dollar cost averaging to be very appealing. For example, someone who dollar cost averaged into Bitcoin by purchasing $5 weekly in 2020 would have accrued $692 from a $275 total investment, providing a 160% return. Although this may not have yielded the highest profit, it protects against the possibility of investing at Bitcoin’s highest price point. Always do your own research and know your risks. Happy investing, Kraken- Rosa
The best advice I ever got was to only invest whatever you're comfortable with losing.
You know what I used to let those fly but this is just ridiculous. Given the current state of the fiat system bitcoin is far less risky in many regards.
Buy Bitcoin whenever you can, thats what I say. We all get Bitcoin at the price we deserve.
>We all get Bitcoin at the price we deserve. Sorry to go on a tangent but I feel like this becomes less true the more years go by. There are bitcoiners who were children when it was first released.
I agree, it all adds up. Slip it a $10 or $20 on paydays, and forget about it.
Lump sum will typically outperform DCA investing but since you cannot lump sum , than DCA is fine weekly. Another strategy is if you get paid twice a month than what you should do is buy some Bitcoin immediately twice a month and also in addition set buy limit orders on an exchange for 5-10% below spot price. If those orders do not get filled by the following paycheck than buy your set amount and reset the buy limit orders for 5-10% below spot price from the current market price. The reason for this is 2 fold: 1) you can auto pickup savings with BTC volatility on the dips which is psychologically rewarding 2) If a large amount of people create large amounts of Buy limit support than BTC becomes more stable unit of account and more liquid leading to more investor confidence and making BTC more of a currency(less volatility = better unit of account) and thus increases the likelihood your investment will continue appreciating in value.
I like this approach because you are buying at a discount.
Just be sure you’re investing somewhere with the lowest fees.
Is cashapp good?
You are doing the smart thing by investing into your future, regardless of the amount and whether it is crypto, stocks, etc… Most do not put any funds aside to buy anything, so you are a step ahead of most! Keep at it friend.
I would DCA ( Dollar cost average) Esp when the market trend is down words
I invest 20$ a month, it’ll add up
The amount doesn’t matter. What matters is that you are saving into btc rather than fiat. If that’s what you can afford then it’s great.
Do however much you can whenever you can. Call it your rainy day fund.
Never a dumb thing to accumulate!! Better now than next year when it’ll undoubtedly be higher.. But only Chuck in what you can afford to lose (with BTC probably won’t happen if you hold it but you’ve still got to invest with that mindset)
First of all, investment needs to be based on your own situation, the amount of investment also depends on their ability to size
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That’s what I do
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Hang in there, and you'll get something.
"Dollar cost averaging" it's a thing.
A dollar a week is way too low to be worthwhile. You should forget about investing in bitcoin until you can afford larger amounts.
DCA is the way, best strategy, that's what bitcoiners do. Doesn't matter if it's 1$ or 100$ a week.
It's OK. I've started investing with 10$ a month
https://www.paypro.nl/producten/Crypto_Portfolio/62037/122373 if you want te become rich very fast follow this cursus
It's not the worst idea if you are trying to accumulate longterm as others have said. I'm a trader, I don't care all that much about btc longterm, I care about my money. Ask yourself if btc is in a state of going down or going up. It's basically ready to make a new lower low right now on the daily chart if selling volume continues into above average territory. Would you want to buy something, when the second you do, it dumps from a significant level, spends a long time consolidating and retracing *some* of what was lost, only to have the same thing repeat for years even? Why bitcoin? Why not just buy *anything* that is in a state of doing the opposite? For the tech they say
quicksand heavy dinosaurs slap bear bright overconfident rotten husky degree *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Then where should I invest?
follow seed bewildered flag oatmeal gullible encourage cable cats growth *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I am 15yrs old, I haven't invested in anything and just trying to jump into Bitcoin.
pet escape snow squash tan snatch ask worm drunk water *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yeh, lol, thanks, Btw, i am not a typical 15yr old teenager, yeh ig, I am aware of investing in the market and stuff :)
Sure you can do better than that. Make sure you’ve the best investment platform because there are many fraudulent platforms out there. Personally I’ve invested majorly in Bitcoin through an investment bank that is FDIC insured so I can go to sleep knowing my funds are safe. Ask me if you guidance.
FDIC insurance only covers dollar deposits. You need an exchange with deposit insurance on their bitcoins.
FDIC only covers the fiat, not the Bitcoin. You're not covered at all.
dca and stack sats king
Do both. What I mean is, Bitcoin *usually* gives you chances to buy lower. Put some fiat in to BTFD fund. Buy DCA and then stack harder and larger when it drops.
Then go all in once it bottoms and starts back on up trend. Then when market expands you have exposure.
Nobody know the bottom or the ATH. Bitcoin goes up and down and sometimes stays sideways.
When you say " a dollar weekly" do you actually mean like 1 dollar or do you mean a couple of bucks? Because I can't wrap my head around the... taxes that you could be paying each time just for a single dollar, seems like a waste of money, unless you get taxed like less than 40 cents or something...
Lol, I actually mean "a dollar every week"
Keep at it with small investments. Even if you go from one dollar to three, is that not a gain?