How much Do I need to get into Bitcoin?

  • by

We hear this question all the time, “How much money do I need to get into Bitcoin?” I think this question is asked by people who are not aware that Bitcoin that is broken down to eight decimal places. So, 0.00000001 BTC is also referred to as 1 Satoshi.

So maybe, instead you could think of how many Satoshis you plan to pick up. That is a different perspective. Either way, the answer is very simple, you can buy Bitcoin in very small increments and accumulate them over time. There are days when I will buy $15 worth of Bitcoin because I chose not to spend it on going out to lunch. This is my little way of reinforcing good behavior and saving for the future.

If you had bought $25 worth in 2012, it would be worth over $80,000 today. For those who bought Bitcoin for $15 and then it dropped to $7.25, it was disheartening back in 2012. Now, I bet any one of us would jump at the chance to buy at 2012 values. While this is no indication of what will be tomorrow, it certainly paints a lot of possibilities.

The real key here is that Bitcoin is for everyone, not just people with big money to spend. As large corporations purchase large amounts of bitcoin, they will likely contribute to the scarcity of Bitcoin, only increasing its value. Remember, there will only ever be 21 Million Bitcoin.

So the next time you decided to pass up on that Starbucks cup of coffee, open up CashApp and buy $5 of Bitcoin. Over time you will see your Bitcoin stash grow. Following this strategy over a long period of time is a great way for someone who doesn’t have much discretionary spending add to their BTC.

Something that I did last year was eliminate a cell phone bill that was costing me almost $200/month. I ended up getting rid of AT&T and going with VIsible Wireless. Visible is owned by Verizon and they are basically selling you the leftover data capacity that Verizon customers are not using. It is subject to data throttling at peak times, but for $25/month per line, it is perfect for me. That freed up an extra $120/month for Bitcoin accumulation.