Topic: I am 19 years old boy living in South korea. Please give me an advice (Read 756 times)

Absolutely, absolutely right on the value of BTC potentially skyrocketing in the future. Every tick of the clock is an opportunity missed. Why wait for tomorrow when today is staring right at you, demanding action? The time to act, to invest, is now. Not tomorrow, not someday, but now. Period.

I commend the OP's foresight, truly. Planning for the future in such a meticulous way, especially in a world where fleeting pleasures rule, is rare, so rare. The world's littered with misleading sites spewing deceit. But, remember, not every advice out there is golden. Sticking to reputable forums, standing guard against falsehoods, is paramount. And as for receiving money from parents, who among us hasnt? Its how one uses it that defines them.

If you're not skilled in trading, use a long-term purchase and hold strategy to save your Bitcoin until it reaches ATH. This strategy is especially beneficial in a market where Bitcoin's price is discounted and a halving event occurs after a bullrun. The amount of your father's monthly $100 is entirely up to you.

Not too late yes but I won't say never as there will be a time when BTC will become so valuable and many people will find it hard to release their BTCs anymore. So he should invest now, not whenever he wants. Don't worry, BTC is safe so learning can also come after it. And he is already on the right place.

There is no need to look further because I'm afraid he can end up on a wrong website that only teaches about lies. I don't think his parents won't give him that amount if it was intended for something important. I'm sure you also receive money from your parents that you are free to spend. It can be like that. I like the attitude of the OP because he plans his future ahead instead of wasting the money on useless stuffs.

He is young and having information about this with his current status is just having $100 from his dad which is surely not enough for investment or trading because he needs to use this money for other things as well right now best thing is just check this all and try to understand with having work for the bitcoin could be really helpful for this kid because with this he can take good experience, and then he can use this all for the better future as well.

Right now having salary with bitcoin is also working, and he can work and also increase his skills for this is also not bad at all but still he wants to use this dad money then he can do some strategy with having some amount every month is also good idea because now most chances we will be having bullish trend which will give him good profit but for this all he again needs to understand all fundamentals of trading and holding bitcoin for the better result.

Yes, OP already has the vision of Bitcoin as his investment even at a young age. It only means that he already understands it. Due to his curiosity, he did some research about it and learned the basic knowledge. But the people around him do not want OP to get involved in Bitcoin for the reason that it is too early for him. Even though, he has a plan to invest regularly. It's a good start for someone who just wants to start knowing bitcoin. Don't let other people stop you or dictate you on when to start your investment.

So interesting for you to ask this kind of question because it is very important for one to get going. Bitcoin is not a Ponzi scheme just like some traders and investors pose it to be. It is a good move when we are ready to learn and it is one of the things that would help us to understand the market very well so that we can act on it without investing in the market blindly. Those who had been in the crypto market for long must have learnt how the crypto market works that would prevent them from make silly mistakes that could cost them to lose money anyhow in the market.

Firstly, it's great that you're taking an interest in investing at such a young age, especially in something as innovative as Bitcoin. Michael Saylor is indeed a knowledgeable figure in the Bitcoin community and it's good that you're learning from him.

investing in Bitcoin or any other cryptocurrency should be done carefully. While it's true that Bitcoin has seen a significant increase in value since its inception, it's also known for its volatility. Prices can fluctuate wildly in a short period of time, which can be risky.

Before you start investing, it's important to understand that you should only invest money that you can afford to lose. Since you're planning to invest $100 a month, make sure this is money you won't need for your daily expenses or emergencies. Also, it's crucial to educate yourself about Bitcoin and the technology behind it. Understand what you're investing in, how it works, and the risks involved. This will help you make informed decisions.

don't be swayed by the fear of missing out. It's never too late or too early to invest. The key is to have a clear investment strategy, stay patient, and not to panic when prices drop.
Remember, investing is a long-term game. It's not about getting rich quick, but about building wealth over time. Good luck!

I'll give you my advice in bullet points. Here they are;
- Read up on Dollar Cost Averaging strategy.

- Budget  a percentage of your pocket money to buy Bitcoin either monthly, bi-weekly. Do it for as long as you can.

- Download and install Electrum wallet or any other soft wallet on your laptop and keep your key phrase safe.

- Only use Centralized exchanges like Binance to buy your Bitcoin. You could also try decentralized exchanges. When you buy move the Bitcoin out of the exchange into a soft wallet.

- If you have a skill request to be paid in Bitcoin if your clients would agree to.

- Look for other ways to accumulate Bitcoin.

- Stay up to date with Bitcoin news.

I think Op understands what he is saying and what he is planning about Bitcoin. In fact, the parent is even very lucky because, at his young age, he can immediately see a good investment opportunity in Bitcoin.

And I also think he knows what he's doing right now, as he's studying Bitcoin, so I don't see anything wrong with what he's doing, to be honest.

Well, I won't say you're late or early. I knew about bitcoin when it was around $40k still yet I wasn't able to buy any as of then. At that point, I was still doing some little surveys that earned me LTC XRP and Doge but now I am proud that I have levelled up in owing some units of BTC and it feels like I'm early in having them. Why am saying this!

You're lucky to have an allowance of $100 monthly you can diversify your portfolio and get Bitcoin partly. Because, yes! You're still early to own a bitcoin now it hasn't reached up to $100k. I use different methods to help me out. Still, Dual Investment is my best

So good luck owning your own Bitcoin

It's all about perspective: saying that in 2023 bitcoin is up XXX% compared to 2009, when it was created, in my opinion makes little sense because only few people knew about bitcoin back then, and probably the majority of those people sold/lost everything a lot of years ago. You should focus on the present and the future: how many people right now possess some bitcoins? Still very few compared to the world population. You found out about bitcoin when it was $60k? Well, now it's half that price, pretty good deal, no?

Consult your country's local board on this before your Uchid. Then you will understand who is strategically investing in this Bitcoin in your country. I didn't say that what you posted here was wrong. You can post here to find out information that you definitely don't know. But first, know your country's strategy. I think you should always understand your country's advice first.

How about going to college? Maybe you will use your allowance to sustain your studies so if that’s the case, then I suggest to never invest in bitcoin for now but focus on your studies first so your attention won’t be diverted into bitcoin. But you can earn a portion of your allowance so you can invest in bitcoin in the future. Although it’s a good idea to invest at a young age, but I don’t think you’re capable enough to manage your losses if ever as that will surely affect your studies as well.

Bitcoin investment is actually for everyone. But if you want to expect positive and profitable outcome, I suggest you start investing when you already have your own source of income. That way, even if you decide to invest for long term, that will never be a problem as long as you invest only your spare money that you can afford to lose. And when it comes to long term hodling, chose to be patient always and have faith on your investment. No matter how unpredictable the price of bitcoin, that will not bother you at all since your trust is bigger than your fears.

Yes it would be better if you have other sources of income besides giving his father to take the best steps in investing in Bitcoin, I agree with you $ 100 is not enough for any investment, unless he wants to invest every month and set aside money from his father to invest in Bitcoin any amount He invested, so I suggest him to see the budget of his needs first before making an investment so that his life is also in good financial regulations.

His initiative is good, I also really appreciate it, if you speak the signature campaign, I think it will be difficult for the OP, he must have a lot of contributions in the forum to raise the rank to enter the classification of the requirements that are usually done by the campaign Manager, but if he is people The persistent who will definitely get the job and get additional income from the campaign signature.

I agree with this. It's better to say to a newbie in crypto the harsh reality that crypto or bitcoin isn't something that if you think you want to invest in it, you will do it. It's not that simple; entering into bitcoin without knowledge or an idea about it will cost you badly. I'm not gatekeeping, just saying that bitcoin should not be taken lightly just because you see its hype or you see that it is in demand these days. And bitcoin can't give you a guarantee that you will earn from it. That's why I suggest that someone who wants to be involved in bitcoin first read forums like this one so they can pick up a lot of understanding and knowledge necessary for their bitcoin journey so they will not be in a miserable situation and regret their decision. So yeah its okay to be honest and harsh if you want to help somebody. 

I know that kotajikikox meant well when he gave that advice to the OP because if we look at history, we are very close to a bull season and this golden opportunity should not be missed. But we should not give advice such as urging someone to invest in bitcoin just to make short-term profits, because if history does not repeat itself and the bull season does not come, they will be blamed for us. They can even borrow money to invest in bitcoin with the thought of speculating in bitcoin for short-term profits.

No one can know what will happen in the future so don't give any advice with any form of assertion, and bitcoin is better as a long term investment than short term.

What I am expecting from you is for you to guide the Op on how to invest and how to secure his investment, everything is not just about keeping your private key safe. There are a lot of ways that bitcoin can be lost. You didn't even mention the appropriate wallet to use to store bitcoin, you just said the Op should secure his private key, you didn't even mention the appropriate way that the Op is going to use to secure his private key, and you didn't mention how the Op should stay away from scammers. There are many other ways in which bitcoin can be lost. Do you think you can only lose money when bitcoin dumps?

Next time you see a post like this, make sure you tell the person the necessary things they should know, you shouldn't just tell them they can't lose money. The Op is a newbie that doesn't know much about bitcoin, and you know the crypto space is full of scammers, and they are always targeting newbies, there are many ways which the Op can lose money.

We have to ascertain whether he has any other income apart from receiving $100 every month from his father, he lives separately from his parents and if he has no other income then $100 every month is not enough for any investment, the impact of inflation is living in another country then we have to saves to meet daily needs, but if he could allocate $20-30 it would be better invested in bitcoin.

I like OP's motivation for wanting to invest in bitcoin, but I hope he has other income to invest more bitcoin before the next bull run, I suggest he learn about earning from crypto events and signature campaigns to increase income to buy more bitcoin for investment long-term.

Of course, I also believe that it is an unbiased act to give financial advice or financial inducement to someone, just as this member encouraged the OP to invest in Bitcoin by playing the role of a financial abuser. And on the other hand, by referring to limited time, the OP is suffering from another delusion that there is a chance of investment until halving, and after that there will be a bull run. Foremost, kotajikikox, if you have any evidence, please give us the evidence that, according to you, the price of Bitcoin is cheap before the halving and there is a bull run after the halving.

A person like CZ, who is the owner of the world's largest exchange and a large holder of Bitcoin, does not claim that there will be a bull run after Bitcoin halved, and the price will go up. He also says that the future cannot be predicted by looking at the past. So, it is not appropriate to give such advice because Bitcoin has a volital nature and its prediction cannot be done by big people, so what is the status of us small people compared to these people? Therefore, you should encourage and attract people to invest in Bitcoin without any disclaimers.

The point is not to make bad financial decisions, if only obsessed with collecting a lot of bitcin but we have a little money do not put it into Bitcoin all because it will interfere with long -term investment/collection of bitcoin, until you sell your bitcoin because you don't have money to buy needs You are everyday.

Projection of money well, it is important for you OP to start learning finances and how to manage it so that you have a financial budget in the every month, and from there you can see the amount of money you can invest into Bitcoin as a safe amount and capable of investing in Bitcoin .