Buy bitcoin cash in bits if you can't afford to buy a whole unit of bitcoin cash (BCH).
The fact that you can buy small amounts of Bitcoin Cash allows you to invest gradually according to your unique situation.
"How much is bitcoin cash?”
“Around $850.”
“Well, I can't afford to buy the bitcoin cash. It's too expensive for me."
This is a conversion I had with one of my friends who I introduced to bitcoin cash (BCH) and it has probably happened with other cryptos like BTC and ETH as many people are finding themselves into the cryptocurrency space.
My friends' statement "Well, I can't afford to buy the bitcoin cash. It's too expensive for me" reveals the misunderstanding and psychological barrier many people face when joining the crypto space for the first time. More emphasis is been placed on the worth of one BCH, BTC, ETH, and others, so newcomers step in thinking that they will have to have over $850 to buy a whole Bitcoin cash to participate.
Those already in the system already know that it isn't the case as it's possible to purchase half of a bitcoin cash (BCH), a quarter of a bitcoin cash, or even as little as $10. But this may not be clear to people entering the cryptocurrency for the first time. This could explain while altcoins worth less than a dollar for a whole unit are seeing a pump in their price, as they offer a very affordable route into the cryptocurrency markets.
So, do you need a whole bitcoin cash (BCH) to get started?
No. You don't have to buy a whole unit of BCH. Bitcoin cash is divisible - you can spend a small amount of money to buy a very small quantity of BCH over time.
A common misconception that one has to buy a whole Bitcoin cash to get started can be off-putting for anyone trying to enter the market especially those from developing countries.
However, I believe that anyone can invest in bitcoin cash and make money. Bitcoin as a digital currency can be divided into several pieces, one doesn't need to buy a whole unit. You can transact with a tiny fraction. So you can get the little you can afford to buy and gradually add slices together until you have one while Bitcoin cash.
Instead of waiting for eternity to buy 1 BCH at once, you can easily buy 1/10 of bitcoin cash ten times. You don't have to necessarily go all-in on one Bitcoin cash.
You Can Own One Whole Bitcoin Through an Accumulation Strategy
Many in the low and middle class are missing out on the Bitcoin cash future because it seems too expensive to buy at $850 a coin. But they don't have to buy a whole BCH at a time.
You can buy affordable bits of Bitcoin Cash and those bits will increase in value each time bitcoin cash price surges.
For example, if you bought $100 of Bitcoin cash when it traded at $500 per BCH, as the current price is over $850 your original investment of $100 would now be worth $159 - a $59 profit for an investment of $100. Good right?
If you want to own a whole BCH but can't afford to it, buying small bits gradually is the best way to go about it. And yesterday is the best time to buy bitcoin cash and the second best time is now! Don't miss out on this great opportunity because BCH's price is poised to soar even higher.
@MarcDeMesel stated in a noise.cash post about three months ago that bitcoin cash has an upward potential of $30,000 before the end of 2021 which would be a 3529% gain from the price of bitcoin cash today.
If Marc's prediction comes true, then today's bitcoin cash price will be very cheap in comparison. A good reason to start accumulating bitcoin cash now that it's still cheap relative to its future projections.
#1. Buying the Dips
Bitcoin cash price dips avail you of the opportunity to buy some piece of BCH at a discount.
For example, Bitcoin cash opened at $720 on February 15 but dropped to a low of $407 on February 23. Many investors would have used that low price (dip) as an entry point to add more BCH to the one they already had. Anyone who bought in at that price has already made over 50% profit.
But it's impossible to time the Bitcoin cash market, so you can use dollar-cost averaging on your journey to owning one bitcoin cash and more.
Read: Buying Bitcoin Cash
#2 Dollar-Cost Averaging
Many favor buying the dips but a more strategic method is the dollar-cost averaging (DCA).
Bitcoin cash dollar-cost averaging is an investment strategy that involves investing a fixed amount of USD, into BCH, at regular time intervals - weekly or monthly.
For example, buying $10 worth of BCH every week or buying $10 worth of BCH every month, would be dollar-cost averaging.
So through dollar-cost averaging, you would buy the same amount of Bitcoin Cash each month no matter the price of BCH. This will help you accumulate Bitcoin cash for the long term without the risk of buying high while averaging it out by buying in during times when bitcoin cash's price falls. And it will allow you to accumulate Bitcoin cash until you reach your target or one more unit of BCH.
Read more about dollar cost averaging here.
Closing Thoughts
I suspect that a misconception about how much BCH to buy and the thought that one must buy a whole BCH to enter the bitcoin cash market could be perhaps one of the solvable issues hindering some Nigerians and people from other third world countries from adopting Bitcoin cash. I'm aware that many rush into various altcoins which provides them the opportunity to buy hundreds to thousands of whole units of the coin with as little as $10 - which they may initially think they need to see any value or ROI.
You don't need to buy a whole unit of bitcoin cash to get started. One Bitcoin cash is more divisible than most fiat currency. So you can buy the amount you can afford to buy at any moment or you buy a fixed amount at a set period using the DCA strategy. Some exchanges offer minimum purchases as low as $$10for you to get started.
So if you believe like I do that Bitcoin cash has value and want to be part of its future, I recommend that you start now to stack your bitcoin.com wallet with BCH. You can start with $100 or more or less and continue to add to it when possible.
After your initial purchase of Bitcoin cash, you have already added a potentially vast amount of wealth to your financial future, and any BCH you add subsequently to this will just be the icing on the cake.
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I feel sad since when i joined noise amd read cah i do t know more about BCH that's why i always say what ever income i have without even checking if the price is high or low but lucky upon reading some articles I've learned about buy low sell high and for now i dont have the money to buy whole bch as what you've said we dont need to bu 1bch to het started it better to start little by little until we achieve our goal, kudos nice article of yours.