Would it be enough to buy 100 dollars worth of Bitcoin every month? - page 5.

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Quote from: blckhawk on December 10, 2023, 12:34:14 AM

Do not ever compare yourself to others when it comes to investment or even anything regarding progress, only compare yourself to your previous self, if you have improved or not is the only thing that you should worry about, 100 a month in investment is already a big amount of money so I do not think that it is a good idea to think too much if you are investing enough. The point is that you are already investing which about 100x much better than what others have done with their investment journey which is all talk and no actions to back up their talk or promise.

Saving $3.33 a day that adds up to $100 in a month isn't a huge investment - but it's a good deal better than nothing. Lots of people want to invest - but they can't afford to skimp, so I guess $100 a month is good. OP can increase it periodically if she has more budget – but being focused and consistent for the same budget amount is also a good thing to maintain.

Each has different abilities in investing - this includes the budget they have. I can always say $100 is still the best choice in a month than having nothing to invest.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I think I can only invest $100 a month for the next year or two, would that be enough?

I've just talked also to a friend of mine that asked me the same thing and I've said yes. You're even better if you're going to follow this plan of investing $100 a month. This market is here to stay so that's a good start that you can do, someone just need a point where to start and $100 as a start sounds perfect for people like you and my friend.

Quote from: puradak on December 07, 2023, 06:45:03 PM

I am worried about missing big bull market with halving and etf approval.

While you are already here, no need for any permission or approval of anyone for you to start accumulating. Don't wait until an etf gets an approval or the bull run gets started which actually we're looking at with its actual start though IMO.

BitcoinTurk

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Yes, you can purchase the amount you mentioned regularly every month in order to make regular savings and simultaneously use these savings as investments. As I mentioned, this would be a very good choice for both investment and savings simultaneously.

On the other hand, if you purchase Bitcoin regularly every month you will be making a gradual investment based on the fact that it is constantly purchased at current market prices. This will not only help to reduce the average price in case of a possible price decline but will also help create an average cost that is consistently close to current prices.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

$100 a month you asked, will that be enough, you mean? Which other amount do you think will be enough for you to invest in bitcoin? The whole world I think.
One thing you need to understand about bitcoin investment is that it doesn't require you to have big money before making any investment in it. Invest the little you have and hodl for long. It must not be investing consistently with a particular amount for you to be sure you are investing for the bull run

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Quote from: bayu7adi on December 10, 2023, 03:24:38 PM

Up until now, there's no set minimum or maximum limit for someone to invest in Bitcoin...

That's why crypto is so good for investing, there is no minimum required for someone to invest. I guess we can say that people should stick to Bitcoin only (Bitcoin maximalist), but the fact is that the same rule applies to all other cryptocurrencies. DCA is not new, and people should use that strategy for long-term investing if they believe in some crypto projects.

100 dollars worth of Bitcoin every month is DCA, but I would diversify that 100$... at least 10-20 percent would go to some other crypto projects.

bayu7adi

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dont be greedy

Up until now, there's no set minimum or maximum limit for someone to invest in Bitcoin. Many people still buy Bitcoin with amounts lower than what you're planning. In my country, I can start purchasing Bitcoin for as little as $0.5 in local currency, and if it's p2p , I can even buy smaller amounts. So, don't ever think that $100 is a small value. Never use other people's wealth standards to make your decisions... it's just a waste of time.

Do it consistently, even if the current prices are bullish. I believe there are even bigger bullish trends ahead. I don't know when exactly, but it will definitely happen. Be patient; I'm confident your two-year journey will have many stories to tell.

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Quote from: redsun114 on December 10, 2023, 12:21:42 PM

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It's commendable that you're thinking about investing in Bitcoin despite your limited budget. Remember, consistency is key in investing. While $100 a month may seem modest compared to some, it's a practical approach, especially considering your circumstances. Don't compare yourself to others; focus on your financial journey. Over time, your accumulated Bitcoin can grow significantly. Stay informed about market trends, and consider diversifying your portfolio when possible. The key is patience and a long-term perspective. Best of luck with your investments and your college entrance exams!

Is it really commendable? But I think it's better to just prioritize our current life for now, as this is more important than the future, when we are not sure what is going to happen. And using the money that is intended for something important can only make our life even more harder.

If we truly want to invest in Bitcoin, we need to fix our life first like pay the existing debts, find a better paying job, and so on....

He said he is a kid about to going to college, what kind of debts is he supposed to have? At that age everything is paid by your parents. Putting those $100 in a bank, each month, is not going to help for sure, they'll just sit there losing money. Investing on the other hand will prepare him for the future, he's going to learn stuff and won't be scared when the market dumps. And I disagree also when you say that the present is more important than the future because you don't know what could happen: exactly because of that I have friends who have big debts because you only live once, so if you want to spend thousands of dollars in a car that you can't afford, hey, just do it, enjoy life. I'm not sure that I would enjoy my life paying interests on debts but everyone is different.

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$100 a month is fine as long as you can afford it. Never "invest" anything that you cannot afford to lose.

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Quote from: ?? on ??

It's commendable that you're thinking about investing in Bitcoin despite your limited budget. Remember, consistency is key in investing. While $100 a month may seem modest compared to some, it's a practical approach, especially considering your circumstances. Don't compare yourself to others; focus on your financial journey. Over time, your accumulated Bitcoin can grow significantly. Stay informed about market trends, and consider diversifying your portfolio when possible. The key is patience and a long-term perspective. Best of luck with your investments and your college entrance exams!

Is it really commendable? But I think it's better to just prioritize our current life for now, as this is more important than the future, when we are not sure what is going to happen. And using the money that is intended for something important can only make our life even more harder.

If we truly want to invest in Bitcoin, we need to fix our life first like pay the existing debts, find a better paying job, and so on.... . If our income is now sufficient, it's now more easier to be consistent either by buying and holding. As you said, we should not compare our self to others and then the very key here is patience. So just let them go first and we will soon catch up.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Do not compare yourself with others since what they are doing has no impact on your life, so even if they are making a fortune this should not be a source of worry for you at all, worry about what you can do as this has a direct effect on your life, investing 100 dollars per month on bitcoin is a good amount as I am sure there are many forum members that began investing in bitcoin with way less money than that, just concentrate on keeping your coins secure and being consistent, two things that may sound easy but that are very difficult to accomplish.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

It's like you want to ride the FOMO but the problem is you don't have sufficient funds to buy more bitcoin. My advice is, never deal with a problem that you think you won't be able to solve. Instead, be contented on your own funds and you'll see no problem. If you can't get massive profits this upcoming bull season, there's always next time for it. Just invest what you can afford to lose, and having $100 as your budget is fine enough.

However, make sure that you won't be struggling on your funds if you invest all your allowance, otherwise you will end up selling early and lost your expected future profits.

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Quote from: blckhawk on December 10, 2023, 12:34:14 AM

Do not ever compare yourself to others when it comes to investment or even anything regarding progress, only compare yourself to your previous self, if you have improved or not is the only thing that you should worry about, 100 a month in investment is already a big amount of money so I do not think that it is a good idea to think too much if you are investing enough. The point is that you are already investing which about 100x much better than what others have done with their investment journey which is all talk and no actions to back up their talk or promise.

there is nothing to prove for improvement mate because what he is trying to ask us is if
She can invest in bitcoin that 100 dollars monthly for the college schooling since that is just an allowance from
her father and she still has food and clothing from the father credit card so indeed that she can do everything
from that amount of money and for me that is enough to wait for the bull run .

blckhawk

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Do not ever compare yourself to others when it comes to investment or even anything regarding progress, only compare yourself to your previous self, if you have improved or not is the only thing that you should worry about, 100 a month in investment is already a big amount of money so I do not think that it is a good idea to think too much if you are investing enough. The point is that you are already investing which about 100x much better than what others have done with their investment journey which is all talk and no actions to back up their talk or promise.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Even spending $50 every month is still okay because the most important is that we invest something that would give us profit in the future.
Don't compare yourselves to others and don't get jealous about why they are investing earlier or in huge amounts as you never know their story as well. Don't feel regrets because whether you like it or not, some may go first while some come late. If I were you, just focus on your goal, and consider other's performance as your motivation which you can be like them in the future if you continue.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Let's be honest: $100 is not a lot of money but I think it's going to help you a lot, especially for the future, in order to get a better financial mentality, I'll try to explain myself better: the simply fact that you are not spending that allowance on fast food, videogames, clothes, you name it, is already a sign that you have a good mentality. If you keep investing, you keep holding, you stay strong when the market dumps, all these things are going to make you grow a lot and they'll help you for the future when you'll be able to invest more money. Out there is full of people way older than you that as soon as they see a -3%, they sell everything at loss because they can't stand seeing their investment losing value. That is the worst thing you can do.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Having the mindset of an investor at a very young age is golden and investing while you are still at school is also awesome. Don't get it twisted, what you are doing is called "DCA" which is called Dollar Cost Average. It is a systematic way of buying into an asset class without buying it entirely at one shot, it has proven to be a strategy most effective in crypto space.

You have an income that best suits your DCA strategy and that's ok, keep at it and worry less about those spending more buying Bitcoin. Yours will pay you more if you keep at it.

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Be enough for what? My advice as an advisor would be to make sure you can even afford it first off. Secondly it would likely make the most sense to simply do dollar cost averaging over the course of time. I wouldn’t force yourself to buy bitcoin if you don’t have the necessary funds readily available. Keep in mind bitcoin is not an investment..inherently.

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One of the unofficial rules of bitcoin investment is to only "invest the amount that is within your limit and budget. If you know it's only $50 you can invest in every month without having to sell some coins anytime an emergency need arises, then it's better that way. If you know you can also invest the $100 and keep holding without selling randomly at any time due to an arising emergency, then it's still fine. Just make sure you are not investing more than you can handle. Bitcoin investment is not like fiat investment, which may look stable while still devaluing, but Bitcoin is a very volatile asset. You could buy at a higher price today and see the price drop the next day, and if you have an emergency that requires you to sell some Bitcoin that day, it means you will sell at a low price below what you actually bought it.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

Buying a $100 worth of bitcoin monthly seems to be big enough amount of Bitcoin accumulation for a student and if you put in such efforts for the next two to three years coming, you already made about $5k or so from your savings and that is huge enough.

More also, whenever you have some other spare cash you can still make more buys because there is it limit to what you can accumulate as long as you are buying from an account that you already put aside for some years.

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Quote from: puradak on December 07, 2023, 06:45:03 PM

I'm preparing for the college entrance exam to go to college, so I can't make money from working. I get about $100 of allowance from my father every month. I use all of them to buy bitcoin because I can use father's credit card for expenses such as food, clothes. I can buy Bitcoin on a satoshi basis every month, but when I see people buying Bitcoin basis on the internet, I feel like I'm too behind myself. Maybe they have a much higher income than me because they have a job. I think I can only invest $100 a month for the next year or two, would that be enough? I am worried about missing big bull market with halving and etf approval.

I buy less than 100 every month and I'm ok with it. I could buy more yes, but there are some months I buy almost twice as much. So, 100 is more than ok, just keep in mind to be constant. Never miss a month and after a year, not only you'll have invested 1200 of Bitcoin, you will also have more than what you invested for sure, in a year basis! And don't be looking to price every day or week. Just buy it and forget it...

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