Topic: I am 19 years old boy living in South korea. Please give me an advice - page 4. (Read 805 times)

It really depends on your patience. People likely want to trade than to invest because you can be profitable immediately if you have a good trading plan unlike investing it takes more time to become profitable. In terms of risk, I will go for investment since it has low risk  compared to trading that if ever you don't know what you're doing or being controlled by your emotion, could lead you to lose money. So since you're a beginner, I would recommend to invest only while learning how to trade.

Based on your post, I assume you have been following Bitcoin for a long time. It doesn't matter where you live; you can invest in Bitcoin from anywhere in the world. The issue is your level of knowledge about Bitcoin. I believe it still isn't too late to invest in Bitcoin. You may start accumulating bitcoin with each dip. You can see in the chart that sometimes Bitcoin dumps hard; just consider it a dip and accumulate. Slowly grow your Bitcoin portfolio and wait for an ATH. So you will have a decent amount of money at the end of the day. Any cryptocurrency investment is highly risky. So invest something that you can afford to lose, and it shouldn't affect your life if you need to hold it for a long time.

Analyze how much you are willing to risk through Bitcoin investment in a monthly basis. The market is very volatile and the future is unpredictable. Many enthusiasts believe we are going to see a bull run happening after next halving (2024), so the bull run must happen between 2024-2025. On the other hand, it's just a prediction and there are no guarantees it's going to happen for real! So you have to take some risks, and the consequences will be on your shoulders and nobody's else! Are you ready to take such responsability for your acts or will you blame it on others if something goes wrong?

Next, you need a safe device to store your coins. Since you earn 100$ monthly from your father it shouldn't be hard for you to acquire a ledger or trezor hardware wallet to self custody your BTCs. Do this as fast as possible and make sure your keys are safely stored as well.

Then be patient, keep feeding your wallet with more coins along the time and wait for the market to pump. There is no mistery on it. Good luck!

Investment advice in Bitcoin is valid and acceptable only in one case, and that too in terms of educational purposes. It is a gross legal violation under the finance disclaimer to give advice on investing in bitcoins to others. Even after a person knows that an investment in Bitcoin is based on volition, giving financial advice to someone or abusing it is a crime. So the meaning of the saying is that financial advice is correct when you mean it for educational purposes. Giving financial advice to someone is not a wise idea, in my opinion; it is a criminal act to financially abuse someone.


In my opinion, the most authentic and appropriate advice for investing in Bitcoin is for educational purposes: "Invest as much as you can afford to lose". This is the advice that brings you to 80% safety. Because when you invest your extra money in addition to your needs, there will be no pressure on you or your mindset. And you will start seeing things on a wider scale. You will bring the points that are required for investment strategy based on your research, draw your investment amount based on your technical and fundamental analysis, take the first step, and be on the side again, waiting for the investment opportunity and getting entry-exit at the perfect time. And moreover, don't hurry for your investment profit because hurrying can always bring mistakes.

If you can learn how to save your bitcoin on a crypto wallet address rather than an exchange, becoming a successful bitcoin investor is fairly simple. Second, you should not let FOMO get the better of you when you notice a rise in the price of bitcoin in order to be a successful bitcoin investor. Thirdly, a successful Bitcoin investor shouldn't reveal how much bitcoin he has to his friends to prevent unwarranted jealousy or criticism on his part. Fourth, a successful Bitcoin investor shouldn't invest in the expectation that he will become wealthy quickly.

He can always invest and buy some satoshis. It doesn't mean that he needs to use all those $100 to get btc.
But before doing so, he should be emotionally prepared and knowledgeable on this market.
And know how to secure those satoshis that he will buy, he can check the forum in the beginners section and read important points before he get his first satoshis.

You are not late.

Read some price prediction of people who are smarter than you and me and you'll see what I'm talking about. Bitcoin is still in its early stage and the Internet penetration charts prove it. Bitcoin depends on the Internet and requires people to have the basics like access to a computer, decent phone that allows you to install apps, basic understanding of the hardware you're using and the concept of bitcoin. Someone who never used the Internet will not be able to use bitcoin. Many countries have very limited Internet access and that stops people who might be interested in bitcoin from using it.

I believe that at least 1% of all companies in the world will at some point use bitcoin and hold it as collateral.

The rule of thumb is only invest what you can afford to lose. You’re new to bitcoin and even though bitcoin is a very good investment, it can be confusing for a newbie investor. It seems to me that $100 allowance you receive from your dad is inconsequential to you and it won’t be too much trouble if you risk it. You already have the zeal to invest, what you need to do now is to learn where to buy/sell bitcoins, how to choose bitcoin wallets and how to secure your wallet.

It is the best time to invest in Bitcoin because there is someone supporting him in finances.  Since @OP's daily needs is being supported by his parents, he can use his allowance to invest in Bitcoin. I also agree that @OP must make it a long term investment in order to maximize his profit.  The current market situation is the best time to enter the market.  In just a year or two @OP might find his investment double or triple due to the upcoming bull market after the halving.

It is not a great idea to look for advice in a forum like this if you don't have basic understanding of finance. So many different opinions from different people can confuse and demotivate you easily. First you should get a good understanding of finance which will give you great observation skills and allow you to identify the best opinion for your investment journey.

My advice is not to use all your money to invest in Bitcoin, you are still someone who is under the responsibility of your parents and even if you intend to buy Bitcoin worth the money you got from your parents, make it a long-term investment. you can also try to make a side income that can give you enough money to buy bitcoin and the method I recommend is the DCA method, currently there are quite a lot of ways for you to make side money in the form of Bitcoin or other cryptocurrencies, of course you have to try to build your skills yourself.

Thanks to your dad and good job for thinking on how to generate wealth. Here is my candid advice, do more research on bitcoins. Divide the 100 dollar into 3 which is around $33 invest that on bitcoins on monthly basis, then the remaining money should be saved for other business, is totally unwise to invest everything in bitcoins, Bitcoin might hit another bearish market at the time you need money. Find other business that can generate money for you on daily basis. You can also invest in other things apart form cryptocurrency. Diversifying is the best thing to maximize the potential of the money your dad is giving you on monthly baiss

You guys seem to forget that the TO is a newbe, no experience never has traded even a bushel of wheat and will most likely loose the first 100 on some obscure site promising high returns.

Glad that you saw it when it was around $60k, that's the power of bitcoin growth. Michael Saylor is a Microstrategy investor and he was probably encouraging people back then not to fear, that's why you see one of his videos back then but sadly we are back to 1/2 of that price now due to some bad guys that influenced people to loss huge billions of dollars, that's what happened if you wonder why the price if no half the original price you saw back then.

If you are thrilled to invest in bitcoin because you say 45 million %, then I hope you are prepare for the bump ahead. It didn't grow to that level without a fight, didn't grow to that price without speculations and repeated crash, I hope you have that courage to hold if you buy some bitcoin.

Coming back to your funds, If you don't have anything you do with that monthly allowance, you can do monthly dollar average by buying some sats every month, if you can do that, you will get some profits in few years time but I can't promise you how big and high your return is going to be as I can't really say the amount you can buy but to get more profits in bitcoin, you need more dollars to that. Or you can just be a trader and to enjoy every show of bitcoin.

Bitcoin is a very great investment to me, according to my own research, and many people who have invested in bitcoin believe they did their own research and have a tangible reason to invest in bitcoin. Now that you know about Bitcoin just recently, I will advise you to take your time and do more research about it, despite the ones you have done before, because I think you are not well confused about your decision to invest in Bitcoin; if not, you will not be asking for advice about your decision to invest and the amount you are planning to invest. It really shows that you are a little bit scared to lose your money.
 
Do your personal research well and allow your research to get you confused about whether you need to invest in Bitcoin or not and the amount you can afford to invest in a Bitcoin investment. Know that following people's advice when investing in bitcoin is not a great idea because their advice may go against your plan of investment.
 
Investing 100 dollars in bitcoin every month is a very good step, and it will also save as a DCA method of bitcoin investment, which I think is the best method of accumulating bitcoin, but the truth is that if you can't afford to lose that kind of money, don't invest all that amount; just invest what you can afford to lose because anything can happen in the cryptocurrency industry.someone life savings are not supposed to be on one particular thing especially been only in internet that is not a good plan.

for what your daddy sending you 100$ a month? is that only for you to spend or for school or important things? because if that money is important to you then never consider putting it at risk.

Invest only the amount you can afford to lose

since you have already research about bitcoin then you already knew that quote i have given?

so think twice before investing , and if you can risk half of it then better to only put half.

There are skills that you can apply to improve yourself and this will help you have more Bitcoin as time goes on, I am not saying you can't start DCAing into Bitcoin right now but since you are doing this from your pocket money makes me feel somehow.

Someone who relies on such money will fall for emotions when Bitcoin moves anyhow, I recommend you start reading about Bitcoin wallet, you can use this forum search engine to find good information about which wallets are safest for storing your Bitcoin.

Normally I believe that hardware wallet is the best if you can afford it but there are also other ways, so while you are dollar cosy averaging into Bitcoin find a crypto related skills you can learn, like trading and be focus on it for the long run, if you end up becoming a good trader you will have many more Bitcoin on the long run.

Trading is risky and that's why you don't have to rush it out, take your thing and learn slowly while you keep buying Bitcoin with your pocket money.

No doubt you can continue your investment. If you think it's too late to get into Bitcoin then you should continue investing in Bitcoin now. There are many like you who are new to Bitcoin and investing. If you get $100 per month from your father and invest that $100 instead of spending it on unique activities, you will have a lot of success at once. You can also strengthen your investment by starting work on the forum. But my advice for you is to keep your investment very safe and keep the seed phrase of the wallet you use safe so no one can steal it.

But what if that was all the money his parents gave him for monthly expenses, including food, tuition...so what? I think studying is more important than using that money to invest in bitcoin and disrupting his studies.

Many young people today have the idea of getting rich, they all want to become rich, that is the desire of young people. But what's more worrying is that they like to get rich quickly, they prefer gambling rather than getting rich slowly and sustainably. Therefore, I think OP needs to have a proper look at bitcoin before making an investment decision. Bitcoin cannot make us rich with just a small amount of capital or will make us rich overnight.

If that monthly $100 dollar is not important for your expenses and you think it is extra than you can buy bitcoin every month or 4 times in a week so you can get bitcoin for average price.
and if that money($100) given by your dad to cover the expenses than invest what amount left in the end after all expenses, you can consider trading without leverage without risking all money to learn.
but buying and holding is better then trading for most people and doesn't require to learn much.