Should I buy $10 worth of bitcoin? Can’t afford to do any high trading but figured it wouldn’t hurt to just sit on $10 worth for a few years.
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Answers below are by Luiz Ricardo Bissoto, Eric Niehoff, Alex Papageorge, Joseph Lee and Jonathan Tauman.
Answered December 11th, 2017
The transaction fees are at the moment of this writing too high compared to the amount you are considering buying. You can buy it, but it will be difficult to move it to a wallet or anywhere other than the exchange you use to buy it. An alternative to that is to trade instruments that give you exposure to the BTC price (which are not, strictly speaking, the same thing) like CFDs (you can google “bitcoin cfd”), which would probably have lower fees.
Answered December 11th, 2017
Can’t hurt. The first rule of investment in a volatile asset is only to invest what you are willing to lose. In the case of $10 I’m sure that you would be fine buying in and seeing where it takes you. You probably won’t become a millionaire off such a low investment but you also won’t go broke by buying in at that level. You could always invest more over time as well if the market continues to look promising.
Answered December 11th, 2017
Currently, 1 bitcoin costs 16,000 USD. So 10 USD is about 0.0625 % of one bitcoin BTC.
Let’s calculate some potential profits depending on estimates of how high BTC might get:
So even if bitcoin gets to one million (which I doubt) I don’t think it’s going to make you super rich, but it’s not much to risk either way.
As an alternative: you could invest in OmiseGO. This coin costs less than 10 dollars right now. (It recently went over 10 before coming back down.) There’s much excitement about it. It has payment partnerships with McDonalds. Might be a better investment for you.
Answered December 11th, 2017
I’m not sure if you can really buy bitcons with only $10.
If you live in USA, contract for difference (CFD) is banned and you can’t leverage.
Here in Singapore, it is totally legal to leverage using CFD and we can buy crypto currencies using CFDs.
Answered December 11th, 2017
Hi you can invest $10 but even if the bitcoin will double himself you will make just another $1o.
Remember, the more money you invest the more money you get
For more info about bitcoin investment
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