Any one can buy Bitcoin, Ethereum or any other cryptocurrency. No’s telling you to try and buy an entire Bitcoin ($47,800 currently), an entire Ethereum ($1780) or an entire Binance Coin ($138). You can do it in parts. Here’s an easy way. Let’s say you decide to buy crypto (we’ll stick with Bitcoin). Every month you put in $50. Over a year, you’d have accumulated $600 worth of Bitcoin. It’s slow, it’s gradual.
Obviously, no way to test this out currently for the future. Though I’ll make a post a year down the line and see how this plays out. But let’s test this over the past
Let’s say you decided to invest $50 into Bitcoin on the 1st of each month. Here’s how it would have grown
This obviously is to give you an idea. You may argue “Bitcoin is currently rising, so it looks great”. I’m not countering that. Just remember this period has seen a complete cycle where Bitcoin fell almost 90%. So it’s not always been rosy.
Anyways, bottomline here is
- Such an investment plan can be more suited for someone starting off. It lets you start off small and you spread the risk of buying all amount at once
- This is known traditionally as a systematic investment plan
- You’re buying irrespective of what happens in the market. Whether it goes up or down, you keep accumulating and asset
That’s it. So ya, you don’t need to be an Elon Musk to buy Bitcoin. Just be you. That works well.