Keeping your Bitcoin in an exchange is really an unwise thing to do because if anything happens to that exchange in question, like hacking or internal theft, or like in the case of FTX, just know that you asset is gone, that's why it's advice to store your Bitcoin in a self custodian wallet like electrum where only you have access to, and one funny thing is that, most investors have heard of this statement before which is not your key, Not your coin, but they really don't understand what that statement mean, but in essence of all am trying to say is that keeping our Bitcoin in an exchange is a terrible mistake we should avoid by all means because once that exchange goes down, at that moment, your asset are gone.
So if Bitcoin.com97 was saying that every week he was going to be buying $10 worth of bitcoin, then how frequently are you suggesting that he withdraws his bitcoin from the exchange? Every week? month? quarter? twice a year? yearly? or something else?
If Bitcoin.com97 sticks to $10 per week, then monthly withdrawals would be $40 to $50 each time. Quarterly would be around $130. Twice a year would be $260. Yearly would be $520.
What levels of withdrawal are you recommending Futurexxx?
In my own opinion, it should be done at the earliest opportunity, but the major problem here is the amount involved, because $10 is too small to be doing that weekly because the fees alone will be reducing the fraction of the Satoshi bought.
So on that note, due to the amount involved, I think that the logical thing to do is to do it in his second acquisition, which is $20, wish might cost him only $0.50 in fees.
I think that any amount of money is not less to invest. Because many people can afford to invest $100 and many can afford to invest $10. It is better to have some amount than nothing. There are many people whose monthly or weekly salary is very less. At the end of the month or week, they have very little money to invest, so continue investing with it. If you invest $2, it is not less.
Investing $2 every week or month seems like a child's play to me I mean how do you intend to increase your portfolio even though Bitcoin investment is a gradual process
I don't think I can invest with $2 every week or month because $2 seems like nothing, because of the value of Bitcoin. Investment is not a must, the moment you start it without preparation ( having a stable source of income that will aid your investment well) you might be stranded along the line and we should not force ourselves to invest in Bitcoin simply because our friends are investing when you know within yourself that you don't have the capacity to..., what I am saying in essence is that investing with $2 doesn't make any sense to me.
That's what makes you to be different from other guys, you may be thinking that $2 is nothing" but in the view of other people is such a huge amount of money, and one thing you should consider is the rate of our local currencies when you convert it to USD, for me I don't think if there's anything wrong if one choose to put $2 into bitcoin weekly or monthly, consistency is what matters the most. I would encourage them to do that instead of them to remain no coiners in the rest of thier lives, take for instance if they are putting $2 of their discretionary income into bitcoin every week they're getting not less than ($106 or even more a year)
how much more ofif that does not make any sense to you, then what will you say to those guys that
doesn'tdoes not have a single stash of bitcoin in thier portfolio? you May be thinking that what they're doing is child's play but before you will realize what they're doing they most have accumulated a reasonable amount of bitcoin in their portfolio. Sometimes they may choose to invest in bitcoin not because thier friends are into bitcoin investment but is because of the good potential of bitcoin which is why most guys will just look for a way to put a little portion of thier discretionary income into bitcoin they might choose to do it weekly or monthly as the case may be.