“How much money do I need to get started on my first cryptocurrency purchase?”
“The BITCOIN is around 10,000 dollars, I don’t have that amount!”
I guess these are questions that worry you. But rest assured, everyone has been there.
For my part, I made my first purchase in cryptocurrency for the modest sum of $50. Indeed, you can start with the amount of your choice because it is possible to buy fractions of BITCOIN. The smallest unit is the Satoshi either 0.00000001 BITCOIN or a value of 0.0001 dollar. In other words, one dollar equals 10,000 Satoshi.
For 50 $, you can buy 500,000 satoshi or 0.005 BITCOIN.
Now, I think if you are here reading this article it is because you have more ambition and want to get serious about crypto currencies and what about getting your first full BITCOIN.
I didn’t think about it at first but quickly it became my goal and after a few months I became the owner of my first BITCOIN.
There are two ways to view cryptocurrencies:
- A simple investment product like stocks with a more or less rapid return on investment.
- Access to a whole new digital monetary system. A system in which you can buy or sell goods and services with your cryptocurrencies.
In both cases, my method is as follows. Every month I put 5% of my cash income into a savings account specifically opened for cryptocurrencies.
In other words:
- On the 4th of the month, you receive $100 from the sale of various items on Facebook or otherwise. You can also imagine a lottery win or any other cash inflow.
- The 25th of the month, you receive family allowances for $100
- The 30th of the month, you receive your pay for $1200
On the 5th of the day of the following month, you add up all the cash receipts: $100 € + $100 € + $1,200 € = $1,400 €. Then you calculate 5% of $1,400 or $70.
So you put $70 into your cryptocurrency account each month.
The month when you benefit from a bonus or any other gain, especially do not change this rule because 5% of $2000 for example will allow you to put aside $100.
The simple fact of doing this calculation once a month will help you become aware of all your income and will give much more strength to this savings process.
Of course if your income is comfortable and you want to save more you can increase to 10%.
Have a good day.