How to buy a full Bitcoin
We cannot build a time machine. Traveling back 10 years from now and buying Bitcoin does not work. All we are left with is watching Bitcoin’s price skyrocket away, leaving us enjoying the ride and being sad about the price Bitcoin will never go back to, and we missed the chance of buying it. Possessing one Bitcoin nowadays is a privilege that not many people can enjoy. Since there is only 22 million Bitcoin on the planet, most of us will not owe one full Bitcoin. Approximately 4 million of the 22 have been lost on keys that can not be recovered anymore. As a result of that, we are very unlikely to owe one full Bitcoin in our lifetime. I would like to provide you with a chance to fulfill the unspoken desire of owning one whole Bitcoin without exposing yourself to too much risk or volatility. Stick around to let me explain further.
Satoshi is the minimal divisible unit of Bitcoin. It is a millionth of a Bitcoin and named after its founders’ pseudonym Satoshi Nakamoto. The divisibility of Bitcoin gives it a massive advantage. It facilitates buying lower quantities of Bitcoin. If you only want to buy 50 dollars of a Bitcoin, you can do that without any problem.
Divisibility is a game-changer. If you want to acquire a full Bitcoin, but you do not have the 30k to pay for it straight away, you are better off buying small quantities over a more extended period. In fact, I urge you to purchase stacks of Satoshi’s and not buy in bulks. Here is why.
Buying small quantities of Bitcoin every now and then will make you control volatility much better. If you buy the highs and the top of the Bitcoin cycle, your average value will be the middle of the price, so as long as Bitcoin is staying above your average, you will be positive. This is a great way to control your risk since it will no longer matter if you bought the top of the market cycle or bought the crash. Just keep your long-term goal in mind and focus on that one Bitcoin you are trying to acquire.
Since Bitcoin is moving in cycles, you have the chance to reduce your risk by spreading your investment out over a considerable period.
Use a strategy
If you want to buy a full Bitcoin by stacking up Sats, you should have a strategy in place. Strategies help you to buy the lows. If you analyze every time you are trying to buy Bitcoin and wait for a good entry before buying, you will master price and return on your investment even more. The more work you do in the short-term the more profits you can squeeze in the long-term. The strategy will be your consciousness dictating your next actions in the market. This reduces your risk of buying on an impulse or even spend more than you should.
Buying a full Bitcoin is hard nowadays since they cost a lot of money. You have a much better chance of acquiring a full one when you try to stack Satoshis until you have an entire coin. This not even gives you an incentive, but it also helps you to focus on the long-term. Spreading out your purchases reduce risk and cancel volatility. The only thing left to do is have a strategy that enables you to identify the right moments to buy. You can worry about the selling at a later time.
If you need help with your strategy, check out my content on how I approach the markets. Get in touch with me if you want to know more about my strategy.
Or support me directly on Medium:
Originally published at http://yvestalksbitcoin.com on January 27, 2021.