Topic: I am 19 years old boy living in South korea. Please give me an advice - page 3. (Read 805 times)

Is that $100 like spare money from the allowance that your dad is giving you? If so, are you okay with spending that all for Bitcoin? The answer is on you and if you say yes, buy and use it. If you think that you cannot survive, then no. With the DCA strategy that you'll do as you have mentioned then that's going to be $100 per month. That's actually a good amount for a person at your age and have an investment already. If I were you, I'd just do what I think I am confident in doing, and since you already have an idea of how you'll do that, why not just do it and buy it right? Many will say that you should be conservative because it's not yet your actual money but with your age, you're very much good in taking more risk like this plan of yours. That's why buy and just let your money see its worth through bitcoin but before doing that, make yourself aware that you know how to keep that in your own wallet that you hold the keys and you understand the logic "not your keys, not your coins" thing.

This makes more sense because Bitcoin is no longer in its infancy. In its early days, back in 2009, a price increase from $1 to $2 meant a 100% gain. However, the current value of Bitcoin has reached $29k, which means it would require a $29k increase, or precisely $58k, to achieve a 100% gain. Bitcoin's growth is similar to the past, but the percentage increase in its price is not as substantial as before.

Reconsider the pocket money you should be using for things that bring you joy. It's true that Bitcoin could still reach $100k or even $1 million, but thinking logically about this new all-time high doesn't seem as straightforward as it used to be. It might reach that point, but the time required may not be as quick as before.

Invest your money in Bitcoin with slightly lower expectations.

It is just a saying that everybody said of a thing that could be very successful already yet it's still too young, since bitcoin is just a decade old, while banking sectors exist centuries of years already.

You are early in the sense that there is still many people left yet to adopt bitcoin and bitcoin is still not used on our everyday lives in the same way that we use fiat, however if you are expecting the same kind of growth that we saw during those days you are in fact late, as even if bitcoin is going to continue to grow as the demand for it increases, its growth is not going to be as fast as it was back then, my recommendation for you is that you save your money and read more about bitcoin, and if you are really convinced about what you see then you can invest your money in bitcoin and hold until when reach the peak of the next bull run.

What do you mean lose for every month? Did you mean like can he able to like just invest his $100 in long term and hodl? or you really think he's going to lose his $100 by just investing to bitcoin during dump? coz if that's the case then it is very impossible to lose a $100 if you invested $100.

Saving regularly must have regular income as well.
If a student has a good income every week or sets aside the rest of their pocket money to invest in Bitcoin, it is a good way to go.

Slowly and consistently it will provide a considerable amount, especially if it lasts up to 4-5 years.
That would be a great investment, but let's not talk too far for 4 years or 5 years, we only need to look at the next 2 years because the new ATH is likely to be reached.

South Korea might be an example of a fairly developed country with a sizable basic income.
But in some developing countries like mine, it's still quite difficult for high school kids to have enough money to start investing.
Only a few are able to because of financial support from their parents.

If you can invest your savings in Bitcoin, it may not seem like much in the short term, but it can be a great asset in the long run. If an investor can't manage enough money to invest then saving something regularly through DCA can be a source of huge wealth within 4-5 years. But since you are talking about South Korea the cost is much higher as far as I know. However if you can save $100 weekly in BTC then your return on investment will be very high. If you are in a country like South Korea, you can invest a lot more bitcoins if you try a little from the place.

You are not late, it's the perfect time for you to enter the market. Here is what you need to do: Start learning about Bitcoin and cryptocurrencies in general, get any information you can find on the internet, do research, read, learn, do anything but get knowledgeable about the industry. Also learn about trading, exchanges, wallets, and every single thing that you might come across at some point in your journey. Once you have learned everything, including how you can join an exchange and buy Bitcoins and then store them safely, you should start buying every month and keep storing them in a secure wallet, don't use custodial wallets as your coins will be at risk.

We are about to witness the 4th Bitcoin halving next year, and generally, when that happens, the market goes up, we call it a bull run if you don't know that. And when that happens, the whole market goes up, led by Bitcoin. So, your investments in the months before halving can actually give you 2x or more returns to you based on how much the market manages to go up.

One last thing, the market is highly unpredictable, don't expect it to only go up, and don't panic when you see it retesting a support or correcting itself, that's normal.

it's never too late to invest in bitcoin, whenever you want you can invest in bitcoin with your money. but before that you should learn more about investing in bitcoin. there are many sources that you can study before actually diving into this investment. but because you are still under the care of your parents, the money you use may be intended for your needs, not investment, so my advice is that you can invest with small capital first and always understand the risks. good luck on your bitcoin investment journey.

Split the allowances you get from you dad and buy bitcoin with a fraction of it but DCA while buying. Do not buy as one buying to resell but buy as one buying for 'store of value'.

The truth about it is, you might seem like you're not buying anything significant for now but keep at it. It will make you develop a lifestyle of investment and still have more than enough dividend/profit for the future.

If you want to invest in Bitcoin only because of watching some videos but I would suggest you to have a good idea about Bitcoin Secure Wallet before investing in Bitcoin, how to hold Bitcoin safely and its risks and whether you can afford to hold it for long term.  consider  Because you will lose the right time to trade without becoming an expert.  Trading is not an easy thing.  So it would be better for you to buy and hold Bitcoin and wait for the profit. Since you are new to Bitcoin, I don't think you will be able to do proper analysis on trading

OP, my understanding is that the comparison between the development of Bitcoin now and the development of Bitcoin four years ago is very far apart, Whether it's from the perspective of learning, trading, investing or even becoming an investor, for me now you will find extraordinary things about Bitcoin's future journey.

But if you have a desire to trade crypto, South Korea has an exchange that you can use as a crypto trading method, if you want to review it you can see it here: https://bitcointalksearch.org/topic/crypto-exchanges-comparison-trade-fee-listing-fee-age-mobile-app-more-5079048

Now is not late to start investment in bitcoin, you just need to have an accurate knowledge of it. These knowledge will help to guide you in your decisions about putting your money into bitcoin. Example is that bitcoin is volatile, meaning that it's price fluctuates, so there's no 100% guarantee that the price will continue to rise to your expectations in the future. Although there's high probability that it's price will always increase, that is why you've been told to invest money that you can afford to loose, so you don't start to panic when you start to experience price dump.

Investment is a secondary need, so you have to first consider your income or allowance to carter for these basic needs first, like food, shelter and transportation before thinking of investment. Because it'll be a bad investment plan when you barely have enough to carter for these needs and you're talking of investing a part of it. The aftermath will be not meeting up with the payments, which will eventually make you to resort to borrowing and being a debtor. But if you can carter for these basic needs and still have money left, then investment in bitcoin is a good plan.

If you want to invest in Bitcoin then this is a very good plan because Bitcoin is constantly doing good things. and since Bitcoin has a supply era limitation, no new Bitcoins will be mined in the future.  So the possibility of Bitcoin price going down in the future is very low.  And if your father takes care of all the expenses of your family and all the $100 you get is sold then you can invest it in bitcoins it can give you a good profit.  And if you invest $100 per month then it will be a DCA STRATEGY.  So in this case your loss will be minimized and the risk will come down a lot. And I would advise you to hold bitcoins for the long term

Trading is very risky so since op is new to bitcoin he should not take risk at first. It will be very good for him if he buys bitcoin and holds it for long term. And since he gets a certain amount every month and he is going to invest every month, his investment will follow a good DCA and reduce his risk a lot.

One of my regrets is that when I bought Bitcoin at $900 in 2013 or 2014, I forget exactly. now bitcoin price has touched $60k++. So the advice I can give you is to analyze Bitcoin prices, even if it's just basic, like BTC support and resistance, give it a time period of 1 week or whatever is convenient for you. determine your best support, then buy. or if you are lazy to do all that, just buy now, and hold for the long term.

Hey there! It's awesome that you're interested in Bitcoin. It can be a great way to invest your money and build wealth over the long term. But it's important to remember that Bitcoin is a volatile asset, and its price can go up and down a lot.

Here are a few tips for being a successful Bitcoin investor:

* **Only invest what you can afford to lose.** Bitcoin is a risky investment, so don't put all your eggs in one basket.
* **Do your own research.** Don't just invest in Bitcoin because someone else tells you to. Understand the technology behind it, the risks involved, and your own investment goals.
* **Invest for the long term.** Bitcoin is not a get-rich-quick scheme. It's an investment that you should expect to hold for several years or even decades.
* **Don't panic sell.** When the price of Bitcoin drops, it can be tempting to sell out of fear of losing more money. But this is often the worst time to sell. Instead, try to stay calm and remember that Bitcoin has a history of recovering from price drops.

Here are a few additional tips that may be helpful for you as a young investor:

* **Start small.** You don't need to invest a lot of money to get started with Bitcoin. Even if you can only afford to invest $10 a month, that's a start.
* **Automate your investments.** Set up a recurring investment plan so that you automatically invest a certain amount of money into Bitcoin each month. This will help you to stick to your investment plan and build your Bitcoin holdings over time.

Use a reputable exchange.When you're ready to buy Bitcoin, choose a reputable exchange that has a good track record of security and customer service.

Investing in Bitcoin can be a great way to build wealth over the long term, but it's important to be aware of the risks involved. By following the tips above, you can increase your chances of success as a Bitcoin investor.

Good luck!

You are not too late because the future price of Bitcoin will be higher than its highest price, and what you have to learn is the risk you will face if it does not match your expectations. But if you are planning for the long term, this is a great option and you just need a lot of patience to do it.
My question is, do you get $100 every month from your father, is it only for personal needs or your pocket money for one month and outside of school needs or other needs.
And if the money is only for your needs, you should think carefully. And just a suggestion, you should only invest $50 every month and another $50 dollars for your necessities or drinks and snacks. And you are still in school, and of course you need money for school snacks and also a few dollars if you have other activities.
If you invest $50 every month regularly over the long term, you will have a lot of Bitcoin, and you can also increase your purchases when you have more money outside of the money dad gave you.
And you also have to be able to manage your money well so you can invest and buy what you want without having to make things difficult for yourself.

If you still receive $100 from your father, you can use that $100 monthly to invest in Bitcoin. You don't need to work to have money because your father has provided it and you have to carry out your plan. You are lucky to have a father who gives you $100 a month so you can use it for the things you want.

So from $100, you can start buying Bitcoin at the market price. You can also buy Bitcoin when the price decreases so that you can get more Bitcoin. The important thing is that you can learn the DCA method well to know which one you want.

And it doesn't take long to be able to have a lot of Bitcoin because having $100 every month makes it easy for you to accumulate Bitcoin. Not many people can invest regularly with $100 monthly, so you have to value it well.

Is the $100 your father sends you each month an allowance you require to support yourself while you are a student? Because if that's your allowance, how are you going to live when all of your money is going to Bitcoin purchases?

As long as they have some knowledge of the subject, anyone may invest in Bitcoin. If you're a beginner, it's best to merely concentrate on long-term investments rather than short-term ones. I'm merely advising you on that. Additionally, there's no need for you to rush.

When you're interested into know much about bitcoin, then it is good that you can hold majority of the fund for long term profit and spend little in experimenting and understand how trading works. Surely it helps with a better plan and let you understand better about trading and the possible chances of profit. Following the same you could prefer holding as well as trading based on your financial ability