How Much Money Do You Need to Play Binance?

How much money do you need to play bitcoin, how much money do you need to buy bitcoin, how much money do you need to invest in bitcoin are questions I constantly receive when consulting investments for those who are new to the cryptocurrency market. Everyone thinks that you need a lot of money to be able to trade and make money in this market. What is the truth? Please read the following article to understand better.

Do you need a lot of money to invest in bitcoin?

When it comes to investing in Bitcoin or other cryptocurrencies, some people may be concerned about the need for a large amount of money. However, the truth is that you do not need to invest a large amount of money to start trading in this lucrative market. Just like investing in stocks, you can absolutely participate in investing in bitcoin with any amount of money you have, for example, from just 100,000 VND. Investing a lot will bring a lot of profit opportunities, investing a little will bring little profit. In 2016, I started practicing investing in Bitcoin with 10 million VND, in 2021 the total amount I have after 5 years of investing is 21 billion VND thanks to buying and selling cryptocurrencies and they have increased in price rapidly.

Register for Bitcoin trading here: Binance.com

Why can you start with a small amount?

I heard that the price of bitcoin has reached billions of dong now, why is it possible to buy bitcoin with only a small amount of money?

Let me give you an example to make it easier to understand, 1 kg of gold is currently worth approximately 1 billion 8 hundred million VND. However, you can still start investing in gold with just 1 tael of gold or less, a few hundred thousand VND can also buy gold as long as there is a product of the right size, similarly, bitcoin is divided into up to 100 million smaller units, called satoshi, 1 btc = 100 million satoshi, which means you can completely buy 0.00000001 bitcoin to start your investment journey with the amount of money needed to invest is 0.0006 USD at the present time, however, most Bitcoin exchanges have a rule that only allows placing 1 buy or sell order of bitcoin with a minimum value of 5 dollars, so the minimum amount to buy bitcoin on investment exchanges is 5 USD, equivalent to more than 100 thousand VND.

What kind of profit can you get from investing such a small amount of money?

Of course, if you can invest with a larger amount of money, the profit can be much larger, so after understanding how to invest in bitcoin or more correctly, invest in cryptocurrency, you can start investing with the amount of money you can spend, then work hard to buy and sell, trade to increase your assets, don't look at the amount of money you have, look at the number of assets you hold, suppose you start investing with a capital of 0.01 BTC for example, trade to turn it into 1 BTC, 10 BTC... and then you will become rich.

How can I increase my assets like that?

For example:

You invest 1000 USD to buy 0.1 BTC when BTC price is 10k USD, then BTC price increases to 30k, you sell and receive 3000 USD, then BTC price decreases to 15k USD, you use 3000 USD to buy back, it will become 0.2 BTC, keep trading, buy low, sell high like that every day, your BTC number will increase more and more if you have a correct trading method, patience and good capital management.

In addition, it is important to understand that in the cryptocurrency market, there are thousands of different coins and they increase in price hundreds of times more than BTC. If you invest in real estate for 1 year, it can increase in price 2 or 3 times, but in the coin market, the story of coins in 1 year, even in a few months or 1 day, increasing in price thousands of times is not rare. Of course, profits come with risks. If it increases in price 1000 times, it can also be divided by 1000 times when it decreases in price. And you can use BTC to buy these other coins. If it increases in price, your BTC will increase.

For example:

I used 0.1 BTC to buy BNB in ​​2019, by 2021 BNB increased 100 times while BTC increased 5 times, so the 0.1 BTC I invested in buying BNB in ​​2019 by 2021 had turned into 2 BTC, and I made a profit from both the increase in BTC and the increase in BTC price, which can be considered compound interest. Then I used 2 BTC to invest in other cryptocurrencies to turn them into 20 BTC.

This is my BTC in 2018 on the exchangeBinance.com

And here is my account in 2021

Where is the safest place to trade bitcoin?

History has proven that Binance is the largest and most prestigious bitcoin exchange in the world today, because the exchange has a very prestigious boss, willing to spend several billion dollars to pay fines despite being deliberately oppressed by the FED and the US government even though the exchange is completely inactive in this country, willing to accept going to jail to regain freedom for the exchange and protect its users, in addition to the prestige of the leader, the issue of asset security as well as the spirit of always putting users first, high liquidity, and a stable operating system have helped Binance become a monument that is difficult for anyone to replace in the crypto market.


Register Binance account and get 300 USD to start trading

Conclude:

Investing in Bitcoin does not require much money, you can start with 100 thousand dong in your pocket, what is needed is your quickness, courage and patience. Don't consider this a game, consider it a business, and cryptocurrencies are your business items, you need an optimal business plan, reasonable capital allocation, just like investing in real estate or gold, buy when the price is low and sell when the price is high, don't listen to others, learn carefully, most players lose because they are greedy or afraid, or gamble when participating in this market with red and black games like binary, Forex, using high leverage, borrowing money to play..

Wish you success and earn lots of money ^_^

See also:

Terms in coin trading