Status of SIP in Bitcoin After 100+ Days
As you might already know I started SIP in Bitcoin, and it's been more than 100 days of daily investing in it for Rs 100 or approximately $1. In the last few days, the Bitcoin price has been going up and down and thus my portfolio has also gone up and down by some per cent. But I know with the dollar cost averaging like this, I am actually benefitting from the highs and lows of Bitcoin. And this is where the SIP of bitcoin is beneficial where you get the dollar cost averaging. I do not have to pay any Tax in buying the Bitcoin from INR so I am getting the Bitcoin for the full $1.
PC: BitDroplet.com
As you can see from the above graph the straight line is my investment whereas the blue line is the current value. The value has been increasing as well as decreasing but at the end of the day, I am almost having an equal amount as of now, though I am down by 1.34%. It's a negligible negative percentage but I am hopeful that when the Bitcoin pumps I will get good returns.
As you can see for me, it's not a big loss, but I am at 1.34% loss after investing for the last 100 days as the price of Bitcoin has gone down in the last few days. I have kept a target of Rs 50K so as of now completed 20% of my target. It is not that I do not have any BTC in my portfolio, but I never started the SIP in bitcoin, so with this, I have started using the Bitdroplet to invest a small amount of my FIAT money in Bitcoin and see my overall portfolio gain when the Bull returns. Also, with this, I am actually buying the Bitcoin in a legal way so that when I sell I have to pay the 30% Tax on the profit. So I am hoping to get around 100% returns so that paying 30% on that will not make much difference to my income.
Posted Using LeoFinance Beta
https://twitter.com/2613889627/status/1581681456820420609
The rewards earned on this comment will go directly to the people( @codingdefined ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share 100 % of the curation rewards with the delegators.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
Read our latest announcement post to get more information.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Look Interesting, but Btcoin is lying on exchange account in this case.
Posted Using LeoFinance Beta