Topic: Would it be enough to buy 100 dollars worth of Bitcoin every month? (Read 1100 times)

That's right, many people recommend with enthusiasm to invest in crypto, especially BTC. Yes. I think this is good advice for the OP or those who want to invest based on fairness. For installments, as many people recommend, using DCA is fine, but what is certain is that large capital determines significant returns, especially if held for a long time and disciplined.

Even though he relies on his parents, it's smart to save $100 a month. A good mix between enjoying the present and making money in the future. It's mature to put investments ahead of meals and trips. Diversifying your investments is important, though. Back Bitcoin, but don't forget about other crypto and non-crypto choices as well.

But caution is very important. The crypto market is unstable, so you can make money or lose money. Long-term wins should be more important  than market swings. Your plan should last a long time and stay the same even if markets change.

When invest, think about jobs and schooling. As you said, getting a part-time job could help him make more investments. Never at the cost of your schoolwork. In terms of job and money, education is an investment that pays off.

Buying bitcoin worth $100 per month depends on one means of income. To some people its just like a peamut money.  You don't sound like you don't have money because the amount you are talking about to invest per month it's ok because in DCA strategy you might be accumulating as little as $10 per week and $40 per month. but with your $100 you can be buying $25 per week but if that is your salary you have to cut the expenses down to $5 or $10 per week in other not to sell your coin for family consuption

Edge indeed, did you even know the age of the guy while you were suggesting the edge over the guys in their 30s? Well, some of you guys' advice is so laughable and it could only amount to blind investment, which is what is causing people to think that cryptocurrency is a scam or Ponzi scheme. Fine, it's good to partake in the blessing of Bitcoin but it must not be done blindly, or else the person will regret it. If Someone could be committing his $100 to Bitcoin periodically, it's good, but this must only be when the market is in its bullish season just like what we experience now.

Other than that, the person should not just buy at all, it's better to wait and buy at lows again, especially when the monthly chart is bullish, which is encouraging enough and shows you are not just gambling with your money. As for the edge, I wonder what those who bought Bitcoin at $67,000 would be saying by now, has it helped them to gain the supposed edge? Or do you know what the future still holds in the long run of it? We should be reasonable in our investment and be speculative enough rather than being random and keep saying general things that others say that will never be productive. With the little I know about Bitcoin now, it has a more bearish season than a bullish season, which calls for more caution.

You can buy bitcoin anytime you like but the most important thing is that hope you are not buying bitcoin to follow up the trend but you are buying bitcoin based on what you can afford.  Investing in Bitcoin is not about because you have the money in your hands to buy, but you need to consider this when buying.  Buy according to the amount you can afford.  Don't use all your money to invest in bitcoin and you stay stranded for money .

Investing 100 USD per month in Bitcoins as a student is totally fine and you shouldn't be giving yourself a hard time about it. Since you don't have any income yourself and fully rely on your parents to take care of you, it's already a lot to set aside 100 USD for investing. I assume that is the money you could be spending going out with friends during the weekend or go watch a movie, have a nice dinner, etc. So, cutting back on your personal expenses to start building a crypto portfolio is fine and should lead to some decent long term profit. Don't worry so much about missing out on the next bull run, because there will also be the next bear market around the corner which will send prices down again. Crypto markets always tend to move in cycles and you will find another good time to invest in. Focus on your studies and then you can buy much more cryptos once you graduate and have a well-paying job. Another thing could be to find a student job that gives you additional income without impacting your studies. That additional capital you could be using to buy more Bitcoins per month.

It would be great if you were able to invest $100 every month into Bitcoin, with the DCA method you won't lose, your profits will be accumulated continuously, now all the decisions are in your hands, investing in bitcoin regularly is really a wise thing to do, especially if you have a target for the next 2 years, surely in the next 2 years the value of your investment of around $100 per month will increase drastically due to the unpredictable volatility of the bitcoin price. has ever been detrimental.

Exactly, moving small amounts to/from non-custodial wallets with fees that high is just a good way of crippling your holdings. Some central exchanges are regulated and insured and also there are other popular financial apps that allow purchasing BTC (e.g. Revolut), which are considered relatively safe - so if I was someone who is only into crypto for the hope of short-to-mid-term financial gain, I wouldn't bother with own wallets at all.

And, if the reason for insanely high fees is ordinals, then it's not guaranteed that the problem will get resolved anytime soon. This is really not a good time to promote any actual usage of Bitcoin...

Yes, the invested amount is not what is important but the consistency of the OP in repeating the $100 investment in Bitcoin every month.

Yes recently I have considered that because the fees are now unreasonable seeing that the mempool has touched 524 sat/vB at this time, can imagine for those of us who invest relatively small and then withdraw it then this is not worth it, now I have considered that and hold first on the centralized exchange until the fee conditions return to normal.

It's a good suggestion to store assets in a non-custodial wallet but at least we are now storing more assets there, it's just that now in an emergency given the situation that the mempool continues to rise, it's better that the option should be considered, and believe that the exchange will not experience problems in the near future.

If you have an investment before the bull run then you didn't really missed it.
If you want to invest more than your allowance do some part time jobs to increase your monthly investment.
But consistent monthly investment is better than just watching the price rise up cause you taught that you are missing the opportunity due to your low investment.

Unpopular opinion, but when investing relatively small amounts, you're probably much better off keeping your funds on centralised exchange, depositing fiat money and buying there.
Lots of people would advise you to keep them in a non-custodial wallet (not your keys, not your coins), which is generally good advice. But considering how high fees can get at times (i.e. during increased market activity), that could prevent you from losing big chunk of your money on tx fee.
I just made a transaction and the quoted "normal" fee was >50 USD. Even though things are not so bad all the time, it's definitely something to consider.

Just imagine what is the value of bitcoin today even if you bought just for $1 in 2011 that means as long as your are buying depends on your capability its okay and never compare yourselves with others because they will be different in their financial status and good thing is you are starting early that gives you an edge over the guys in 30s but keep investing in long term.

I agree with what you said about consistency. There are many different times in the market and consistency is very important in these times. If it is affected by some situations, it becomes difficult to be consistent and the targeted large profits cannot be achieved.

The DCA method has always been profitable in the long run. When you set aside a certain amount of money and invest it, you will both make a regular investment and gain this habit.

whether this is enough or not depends on you, if currently your investment capability is only 100 usd per month, that is more than enough. it's just how you can manage your finances so that you can invest consistently without it interfering with your life and studies. and you need to understand that investing in bitcoin is risky, don't invest money that you are afraid of losing.

i'm sure that if you can manage your investments and your college life, you can get good profits in the future.

Sometimes very simple obstacles like that cannot be overcome by a small number of people when it comes to investing. Even though the first point is also very clear, if carrying out any work there must be an overall level of consistency so that the work can be maximized. Because without consistency when buying or whatever, there won't be any bigger profits that can be expected, especially if current market trends still change very often from day to day.

It would be better to make a specific determination with monthly cash income when wanting to buy Bitcoin on DCA in a matter of months. Because it will also teach us to continue to be consistent when doing something and in this case it is when buying, so just make a provision by setting aside some of the money you get every month to buy Bitcoin. And do this regularly every month to be able to collect Bitcoins more quickly with the money we have.

Investing bitcoin $100 every month I think not bad ideas and enough depend on our financial condition, personally not all people or holder in bitcoin have much money and invested $100 every month keep worth it depend on consistency want to accumulate with the same amount every month. Depend on consistency accumulate $100 every month, OP can hold around $1200 worth of bitcoin every years and with possibility bitcoin price increasing up above 10% to 20% possibility with profitable around $240. Its not matter with how small amount of your investing in bitcoin but how to keep consistency invest without get fraud exactly when bitcoin going down. Take your decision keep holding and accumulating $100 every month for bitcoin and your target holding until how many years later? three to six years or more than it?

His parents used to take it badly when he was spending his money on bad things. Investing in pocket money means Bitcoin is not a bad thing at all. OP is investing in bitcoins without spending his pocket money must have his motive behind it. Since OP does not earn any money yet and since his father does, it is natural to take money from his father and spend it. If my child took my money and invested in bitcoins I would give him more money and increase his pocket money. Dissuade children only when they are going in the wrong direction but when they are trying to plan for the future, encourage them and help them if you can, you will see that they are much more motivated. Parents are the biggest inspiration for children and if parents support children in any task then children can complete that task very well.

Yeah, not everyone can afford to invest with $100 because of how life is hard today and as someone who doesn't have decent income yet, it's a fortunate situation for him.

This is true. It doesn't matter whether it is $100 or lesser but what you do is what must be credited about it. The consistency that you'll do for y yourself is going to be your winning factor on this market.

Only if it's on bitcoin and some other altcoins that are also consistent as well.

You don't need to compare what you do with what other people do because investments should be made according to each individual's abilities, not to look superior and so on, you don't need to be afraid of missing out on the bullish period later, if you see that the Bitcoin price is too high and want to sell it, then do it and start a new investment when Bitcoin has entered a bearish period, because if you are afraid of missing the train and force yourself then you might get stressed when something unexpected happens.