Topic: I am 19 years old boy living in South korea. Please give me an advice - page 6. (Read 805 times)

Time is on your side. You should find a cash number you can save. 10 a month 25 a month 50 a month 100 month. You get the idea.

Say it is 100 a month save some in BTC save some in cash.  50-50 works. or 60-40 works.

never never never spend the saved btc. You are saving that cash if you have to spend spend that.

Revisit you BTC savings at 24 then 29 then 34.  If BTC does not fail you should have really good money by 34.

How about you use your father's credit card to buy bitcoin instead? hehe.

Do you have some savings set aside? I'm not familiar with the culture there but you probably have a few years left to pursue a degree in college and you are already at the age where you're legal to work. He can decide to cut you off any time now.

My personal take here is to save that $100 and try to earn on your own with some side hustles. Use whatever you receive there to buy BTC.

You know if it doesn't affect your studies; continue with what you plan to do. When you started that, you even beat me by chance, to be honest. I am not able to spend $100 every month to buy Bitcoin or other cryptocurrency, but you are blessed but not lucky.

But if it interferes with your studies, I don't think that's good, and if your parents find out about it, they might have a negative view of Bitcoin or cryptocurrency.

You are not too late to buy Bitcoin, you are one of the lucky ones, because Bitcoin is currently entering a bearish phase, Current prices are quite expensive compared to several years ago. Even though you are still relatively young, there is no harm in investing now and you will enjoy the results when you have a family in the future. Set aside half of the $100 you received from your father, then buy it every month or what we know as the Dca technique. A little advice for you when storing your bitcoins is to put them on hardware such as Trezor or Legder, not on an exchange.

You are very young OP so my advice is just continue in school, study & make yourself a career. You should definitely buy bitcoin now & whenever you are able to. You’re still early enough to make a massive difference to your life but it’s a long road. You will not become rich overnight with bitcoin now, it’s going to take years of dollar cost averaging in. Definitely buy now & every time you have money though, it will be a good start. When you have a full time job you can buy every month & set yourself up for a great retirement nest egg.

I always advise those who just recently discovered Bitcoin to read everything about Bitcoin and its history, uses, potential, and security before investing in Bitcoin if you have already done that and you can secure your Bitcoin that's the start of building your portfolio, you are not late I guess you missed the part of its potential price in the future and the price we have now could be 100 or 1000 times in the future, if you dig deep you will not be confused so continue doing research, reading more materials and the latest about the market.

$100 a month is a good start you are still young if you are not lavish in your spending and you want to secure your future investing in Bitcoin is the right thing to do
I'm sure you have read about HODLING you can start doing this and you can make a profit after the halving, the time to take action is now, its still the best time to invest.

You heard about Bitcoin from someone and now you want a suggestion, it shows that you have zero knowledge about trading. Ok, don't worry, we are here to help you in the best possible way. The first thing is to save your money and don't waste it on things that are not important like outings with your friend, clubbing, etc. When you save money for 2 to 3 months invest it in Bitcoin and hold it this is because you are new to Bitcoin and it takes time to learn about other strategies and has more risk in it, In the long-term investment the risk is minimal, and gives you good returns. Another thing is that don't put all your money in Bitcoin it's very risky for you and is volatile. If you lose some amount in the BTC then you have the half fund that you put in Bitcoin again and this is how you will proceed with your journey.

You're never missing out as long as you made a decision to invest now, you can't blame yourself for those past days when things were not as they were now, but you can consider the $68,000 all time high to where we are today and where we are going sooner when a new all time high will be unfolded after the halving and bullrun follows, it's not bad neither was it too late for you to start something from where we are, the historical record will be your confirmation that bitcoin will always be a profitable investment asset, while you make use of your monthly income allocation for bitcoin investment using DCA method amd hold till after next halving.

Okay, if that is the case, then it may not be a bad idea to buy BTC with some of that money every month. But there are things you must learn about BTC before buying it. Take note that BTC isn't a get rich quick scheme and you have to understand how to store your BTC in the right way so you don't lose it to scammers. Let's say you store your coins in a centralized exchange or in an online device that you use for your online activities, your funds can be stolen, so things like these is what you must learn about BTC before buying it.

Are you planning to just put all that money into BTC? If you would, that would be more beneficial. Make sure that you are going to be able to make up for your living expenses. Those are the important points before proceeding with investing.

Maybe in the meantime, you could find work that would pay in crypto and then just earn that and have more. In that way, you don't have to shell out anything and in the future, you could have a lot of BTC.

From that time to today, it takes you two years that is long enough.

What is the $100 monthly for?

If it is for your expense, tuition fee and things are important for your study, life, you should not use it to buy Bitcoin. If it is money your Dad gave you is to drink coffee, sweeties with your friends, as they are not too important, you can save the $100 or part of it to invest in Bitcoin.

Use this website https://dcabtc.com/
Input $100 monthly for a DCA and see how it worked in the last 3 or 4 years. Whatever time you want to apply Dollar Cost Averaging and see how it can work magically.

I'll hold you to that statement which means that I am going to tell you to look at yourself and do some self-introspection, are you the kind of person that's going to be going out to have a few drinks with your friends once in a while? Or are you the one that just wants to stay at home or invite them there to have a few drinks? Your answer to these questions would be helpful on how much of that money is going top be in bitcoin, there are other stuff besides those 2 questions that I've said but I hope you get the point. Now if you're the loner type that have a really small circle of friends, I would just carelessly advice you to invest all of it in bitcoin.

Another thing to consider OP is that when you invest in bitcoin, expect price drops that would make you panic and might make you do something ridiculous like bailing out at a lower price than when you've bought your bitcoin, hodling will be a test of patience for you.
This is not the right advice for you OP, don't use that money to gamble, just invest it in bitcoin and hodl. Wth, that's a blatant and reckless way to promote your business, I guess it's normal since it's crash.

You're still young but already thinking about investment. That's a good start for someone at your age. Being curious about the things that can make you earn money. Try to do more research to earn more knowledge about it.

Anyways, the money you receive from your dad is worth $100 and is probably used to provide for your needs in school. Try to figure out if you can at least save some of that money and invest it in Bitcoin. Do DCA every now and then, that way, you will reach your goal and have a decent amount of investment. While doing that, try to do research about Bitcoin, it's better not to neglect to learn about it. Always remember that knowledge will be an important key in the future.

Okay, you gotta understand that it's important to learn making your own financial decisions instead of relying on financial advice of other people. So I'm not going to give you advice on what to do with the money. Instead, I'll just try to mention things that may be helpful to consider before making an informed decision.
- Is there a good chance you might need this $100 within the next year, and it will be a big problem if it's $70 instead of $100? If so, Bitcoin might be a risky investment because the price can easily go further down.
- Is there anything good you could spend this money on right now? Perhaps you can buy something or help someone with it.
- How long are you willing to wait for Bitcoin to grow? Let's imagine that at the end of 2024, Bitcoin rises to $100k. It's not an impossible scenario. That's a little under 4x increase from the current price, so let's say your $100 become $350. Is that a difference-making amount of money to you? Or will you hodl for many years in a hope of higher profit? Even if Bitcoin grows 10x over some time, that'll mean you get $1k out of $100, which is nice, but again, maybe not that significant, depending on your overall financial situation.
$100 might be a good experimental investment, just to see how it goes, or an initial investment that will be followed by more money being put into Bitcoin. If you intend to invest a total of $100 per month into Bitcoin, that can amount to a significant amount over time, but perhaps you need this money here and now for something else.

For you as a student, it would be very good to start saving Bitcoin from now on. Following the DCA strategy is the best thing in the long run. You can search on the forum or the Internet to learn how to do it the right way.

You can buy Bitcoin every month using the $100 you get, but it is better to buy 50% and leave the rest for your personal needs. Although the amount is not large, it will be good in the long run. You will get good capital that will be in front of you when you graduate.

I appreciate what you are thinking at a very young age. It is never too late to invest in Bitcoin. A $100 investment is a good start,  and now is the ideal opportunity to invest in Bitcoin, as the price has already crashed from ATH and is about to touch the bottom. After the 2024 halving, the price will increase, until then, you should accumulate as much Bitcoin as you can. Trust me, you will not regret your decision.
To be a successful investor in the Bitcoin/ crypto market, you have be to patient, wait for the right moment and don't panic when the price plunges. Go for a long-term investment (hold for at least 5 to 10 years). 

    Your plan is good; at least you are not wasting the money your parents give you. That is a wise decision you will make in life. Since you are a newbie here, the best thing to do is make a long-term investment. So that somehow, while you study, your Bitcoin is only in contact with your wallet balance.

   Guaranteed, you will grow more than x3 of your capital if you do that, and in just one year if you maintain that, that is a huge amount when the value of Bitcoin in the market is x5.

So actually you want to ask wheather it is best time to invest or you are late so I will advise that you should invest now because btc price already down as you saw its price at 60k and history show that every time after btc crashed we seen a ATH(All time high). If you can save some $ monthly and also you understand that you will not need this money in the short time then I will suggest to go for it.

People who says that you are late actually means that it will not rise like previous but we could expect 100k-500k after halving (before 2027). One fake news push btc 5% in very short time then you could imagine if many big ETF companies successful get approval. Adoption is one the way and many big companies looking to accept btc and I think we should not miss the chance if we not invested yet.

I'm not from Korea, but I don't think 100 USD per month will be enough for a student considering all the living expenses such as accommodation, tuition, food...Korea is a developed country so I think it will be difficult for OP to live with that amount of money, let alone invest. But if he can save and has some spare money then investing in bitcoin would be ideal rather than saving in fiat currency.

It cannot help him become rich, but if he persists in accumulating and can hold bitcoins for a long time, his life will improve a lot and he will even have some capital to do business after graduation.

100 dollar is for personal use. I can use it to anything I want. I use father's credit card for my expenses.