I am 19 years old boy living in South korea. Please give me an advice - page 7.

EL MOHA

sr. member

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Quote from: kyc20040202 on October 17, 2023, 03:24:08 AM

I specially
I thought I am very late to start invest to Bitcoin, but many people said it is early. So.. I am really confused. I receive about $100 a month from my dad. I am planning to use them to buy some bitcoin.

Yes you are not that late to bitcoin because the potential growth of it is still at early stage even the mining of bitcoin will take time to complete. The estimated year for it to be completely mined is 2140. With this you will see that there is still time for it to grow in adoption and also in price.

Investing in bitcoin doesn’t requires large amount of money like other investments will require, you can invest as little as 10$ in it and continue to stack up. But one key factor in bitcoin investment is do not invest what you can’t afford to lose. From your story you don’t earn a living yourself and depend on your dad for stipends which seriously is not an amount you can afford to lose.

But if you are thinking of getting to save some money from this allowance then bitcoin offers a better advantage because it is an hedge against inflation and you will wouldn’t worry about it devaluation. But the thing is you have to make sure you’re saving for a very long time and wouldn’t panicly sale when the price is down because bitcoin is volatile.

Z-tight

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Quote from: kyc20040202 on October 17, 2023, 03:24:08 AM

So.. I am really confused. I receive about $100 a month from my dad. I am planning to use them to buy some bitcoin.
Please give me an advice to be successful Bitcoin investor in the future.

You have told us that $100 dollars is all you recieve monthly, but we do not even know if it is enough to conver all of your expenses monthly and how much you get to save from it. If you get some spare money off the $100 at the end of the month and you don't know what to use it for, you can buy BTC slowly through dca, but if you are going to be buying BTC and depriving yourself of what is essential, then no, because you will eventually end up selling it at a loss.

If you aren't making your own money yet and you do not have enough to invest in BTC, you can invest in knowledge for now and understand everything about it and when you have money you buy some for yourself.

Latviand

full member

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Can we know your living conditions in South Korea? Because depending on where you're in the country, the expenses will be different and if you're in Seoul, you're going to need all the money you've got and those that's sent to you because Seoul is one of the most expensive city in the world. Check your expenses and try to maintain a 1 week routine and see if there's any money left before the next aid comes, if you're struggling to make ends meet at that 1 week routine, you probably need to focus on daily expenses first before investing in bitcoin. This advice is purely my opinion so take it with a grain of salt.

lombok

sr. member

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Quote from: kyc20040202 on October 17, 2023, 03:24:08 AM

After graduating high school, I saw bitcoin on youtube. At that time, it was about 60,000 dollar.
I had some research about Bitcoin. I specially watched videos of Michael Saylor. For me, he sounded very logical.
I checked the price, and I could see that Bitcoin is up 45950334.26% since 2009. I think I am very late to start invest to Bitcoin. I also don't have much money to buy it.
I receive about $100 a month from my dad.
Please give me an advice to be successful Bitcoin investor in the future.

If you are not good at trading, you should apply the long-term buy and hold method. In this market situation, you might be very lucky where the BTC price is at a discount and soon BTC will experience a halving event which usually occurs after a bullrun. Try to consistently make purchases every month and save your BTC until the BTC price reaches ATH. It's up to you how many dollars you use from the $100 your father gives you each month because that is completely under your control.

kyc20040202

newbie

Activity: 3

Merit: 0

After graduating high school, I saw bitcoin on youtube. At that time, it was about 60,000 dollar.
I had some research about Bitcoin. I specially watched videos of Michael Saylor. For me, he sounded very logical.
I checked the price, and I could see that Bitcoin is up 45950334.26% since 2009. I thought I am very late to start invest to Bitcoin, but many people said it is early. So.. I am really confused. I receive about $100 a month from my dad. I am planning to use them to buy some bitcoin.
Please give me an advice to be successful Bitcoin investor in the future.

Topic: I am 19 years old boy living in South korea. Please give me an advice - page 7. (Read 805 times)