Please excuse me if this is old news for you! The fact that I'm writing this article on a crypto based social media site like Steemit might not seem like the best use of space, but there is a method to my madness...
One of the new training videos I have planned for my students and members at Bitcoin Bully is to teach them that they don't need to buy a 'full bitcoin' to get into the game.
Again, this may seem like common knowledge for many of you that are experienced in this industry but a huge chunk of people new to crypto have the notion that they simply cannot afford to 'buy' a Bitcoin. As I'm doing this article the current price of one BTC is roughly $8400. So you can see their dilemma..
They want in, but can't bring themselves to buy a full coin!
Here's the brilliant thing about the majority of the crypto out there, you can actually buy a fraction of a coin instead of the whole enchilada.
What I have done for months now is dollar cost average my purchases and bought small chunks of bitcoins, litecoins and others to my portfolio.
(Example of the Dollar Cost Averaging training inside of BitcoinBully)
A really good example of this is the May HODL challenge where I simply purchased $100 worth of a bitcoin, which ended up being 0.011 BTC. The fractions can get tricky to remember and when 'satoshis' come into play I can see the gloss go over your eyes right now.
Thankfully, a lot of the exchanges that allow you to bring fiat into the crypto space allow you to easily purchase 'chunks' of a coin at a time. So this is great news for new people interested in crypto investing....You can start small, and add a piece here and a chunk there....Over time, your portfolio will start to grow!
But here's the big point to my post....
And this is where it turns from general information into full out excitement!
Because I'm not very smart, I like things that are...Simple.
And my 'investment' plan is to dollar cost average like I mentioned above. Every week, I bring the same amount of fiat into my portfolio. And because I've been doing this since last year, I'm starting to see some fantastic results.
And not for what it's worth in fiat either...
Even though I may have lost on some coins, the purpose for my investing in crypto in 2018 is to - Accumulate coins!
Wait a minute?
You don't wanna make money from your investments?
Sure I do...But I'm more interested in getting as many coins as I can this year and seeing where I'm at this time, next year. I've got this crazy long term plan that seems foreign to a lot of professional investors and that's ok...I like slow and steady. I like thinking long term. And I LOVE the entire concept of the blockchain and cryptocurrency in general.
Here's a tweet that highlights exactly why I wanna accumulate coins in 2018...
A revolution!
And that...Is exciting :)
So I urge you...Think about building your portfolio in crypto for the long term!
We can add coins to our portfolios over time and slowly build it up. You don't need to mortgage the farm to get into the game and you should NEVER spend more than you can afford to lose.
Want to have an action step to wrap it all up?
You don't even need to spend a dime to start building your portfolio today!
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Look up to the right of this blog post and find this....
Start creating awesome content and engaging right here on Steemit! Every day you can start adding a Steem token to your wallet. Some STEEM power here and there. Maybe a few SBD's along the way as well...I'm blown away at the tokens I'm accumulating right here, just by doing something I love...Creating content and engaging daily!
Slow and steady, here a coin, there a coin...And after a while, the future begin to look very bright!