#MyTradingStyle
If your budget is $100, here is a suitable financial plan for investing in cryptocurrencies, focusing on Bitcoin or alternative coins.
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$100 Investment Plan in Cryptocurrencies
1. Choose a Reliable Platform
- Choose a secure and user-friendly exchange platform, such as Coinbase, Binance, or Kraken.
- Ensure there are options to easily buy small coins, and discounts on buy and sell transactions.
2. Allocate Amounts
- Direct Purchase: Invest $80-90 in buying a cryptocurrency like Bitcoin or an alternative coin (like Ethereum or a small digital coin).
- Reserve for Expenses: Keep $10-20 as emergency liquidity or for purchases during sudden market dips.
3. Dollar Cost Averaging
- Given the limited investment size, it is best not to buy everything at once.
- Split the $80-90 into 4 installments, for example, and buy $20-22.50 each week or month, to reduce the impact of market volatility.
4. Use Secure Wallets
- Use a reliable digital wallet to store your funds (cold wallet or trusted e-wallet).
- Do not leave your money on the platforms after purchase, but transfer it to a private wallet.
5. Monitor the Market
- Keep track of market news and price changes regularly.
- Be prepared to make buying or selling decisions based on market movement, but do so calculatedly.
6. Important Tips
- Do not invest more than you can afford to lose.
- Do not expect significant short-term profits.