Buying $100 worth of Bitcoin each month
If you had bought $100 worth of Bitcoin every month since July 1, 2013 — the day the first transaction on BtcTurk took place — how much would you have save today?
Cryptocurrency market followers are sometimes hesitant to “buy and save” or “trade frequently”. But if you used Bitcoin as a method of saving, what would you have accumulated so far?
⚠️ Important Notice: This article is not intended as investment advice. It consists of calculations made using daily opening prices and 0.01 per cent commission rate in order to show the current possible value of the savings in case of regular accumulation on BtcTurk since July 1, 2013, when the first transaction on the platform was made. Unfortunately BtcTurk does not provide USD pairs. The $USD prices are taken from Coinmarketcap.
On July 1, 2013, you start saving by buying approximately 1.02451031 (1) Bitcoin for $100 at the daily opening price. Although the amount of Bitcoin you purchase for $100 over the following years will vary depending on the Bitcoin exchange rate, the amount of Bitcoin to accumulate in your account will increase. Just like emptying your loose change into a piggy bank and not taking anything out of it.
Did you know?
When you save by buying Bitcoin regularly on a certain day every month, you’d be considered a HODLER in the cryptocurrency world, “the person who does not sell, but hoards instead”.
You would have spent a total of $9.000,00 if you had bought $100 worth of Bitcoin every month, regardless of the fluctuating Bitcoin price, since July 1, 2013. If you checked your holdings on December 1, 2020, you would see approximately 14.46386288 Bitcoins.
If you were to cash out and convert your crypto to Lira on December 1, 2020 using the current Bitcoin/USD price, you’d find that 14.46386288 Bitcoin would equal approximately $283.951,76 (4)
Looking at the table below, you can see the Dollars you will have paid and the amount of Bitcoin you would’ve purchased if you’d regularly bought $100 of Bitcoin every month following July 1, 2013.
(1) Source https://coinmarketcap.com/currencies/bitcoin
(2) Bitcoin prices are calculated over the opening prices on the 1st day of the month
(3) When calculating the amount of Bitcoin, the commission rate was calculated as 0.01%
(4) Bitcoin / USD price is calculated as $19.633,77 on December 1, 2020. Source: https://coinmarketcap.com/currencies/bitcoin
By becoming a member of BtcTurk, you can easily buy Bitcoin whenever you want.