Would it be enough to buy 100 dollars worth of Bitcoin every month?

[radjie]

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 all depends on your beliefs, if $100 is enough for other needs such as emergency fund reserves that can be used at any time, of course $100 could be the right choice to invest in Bitcoin.  The most important thing is not to force your willingness to invest in Bitcoin if you have other, more important needs

It would be much better if you continued to consistently not reduce the amount of money you put in to invest in Bitcoin every month for the next two years and could calculate the total amount of money before making a sale later.

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[Myleschetty]

Having a good job that pays well, well that amount is already good enough. But for someone who don't have a fixed job yet, but just rely from his father's allowance, I guess that is quite too much for investment. [snip]

Yes, the amount is small for some people who don't have a fixed job. The main point is not how small the investment was but how consistent the people will be with the investment decision every month until the goal is achieved because a drop of water can make an ocean.

[GideonGono]

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.

Only invest what you can afford, don't think about other people's investment.
There are some who might even have a hard time investing the amount that you could invest.
For me this is not a competition, we are investing for our future to have an easier life, the amount that others could invest doesn't need to bother you since we all have different lifestyle, and as you've mention you're a student while other's are already an employee.
There are also other investors who have a family so they couldn't invest much since they need to put food on their table, so be contented with how much you could invest, no matter how small it is it is still an investment.

[Essential10]

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 great to see that you're thinking about your future and taking the initiative to invest in something that has the potential to provide long-term financial security. You take $100 a month from your dad for hand expenses but you've resisted the temptation to spend it yourself, demonstrating a level of financial responsibility that will serve you well in the future. I do not underestimate any investment you can start with any amount. This is a substantial amount at the initial stage of student life. I fully support your efforts to secure a successful future for you.

[tygeade]

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.

This depends on you, not the amount. If you live in a poor nation, that doesn't mean you are poor, you could be in the poorest Somali like nation but if you are rich who spends a thousand dollars a day, then this won't be enough investment for you, or you could be in UK and live in London but you are getting welfare so that means 100 dollars is a lot for you.

This isn't even where you live, it's how much you are spending per month that decides it. If you are spending anything like 5-15% levels for 100 dollars, then it's fine. Meaning if your salary is high enough that 100 would be somewhere in the 5-15% range of your monthly salary, then I would say that's good, if it's more percentage than that then invest less, if it's less then you earn enough so invest more.

[LFC_Bitcoin]

You’re obviously very young so have plenty of time. $100 a month isn’t going to make you rich any time soon but as part of a diversified portfolio, $100 a month for your working life will make you much wealthier than most of your peers.

$100 a month will set you up really nicely as a retirement pot. Bitcoin will likely outperform traditional stocks and bank savings accounts for the significant future.

[MarjorieZimmermanGinger]

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.

That was much more than enough as it was impossible to force large purchases if one did not have a lot of money. Especially if you are still a student who needs a lot of money to complete your studies in the final semester and of course the money needed is quite large. You are one of the lucky people because even if you don't have a steady income you can still buy bitcoin for $100 compared to some people your age who are familiar with bitcoin but don't have the financial resources to buy it.

Maintain what you are doing because if you intend to reach the stage of financial freedom then you need consistency to continue to be in this position. Buying in any quantity is no problem because the most important thing is that you can be responsible for the decisions you make. Using your parents' credit card for daily needs will be a burden and you cannot depend on your parents' money all the time, so deciding to get involved in bitcoin will be much better if done the right way.

[Rabata]

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.

The point is that you will get your reward in Bull Session in proportion to the amount of Bitcoins you collect. If you say you will invest $100 per month, you can accumulate $1,200 of Bitcoin in 12 months. If you collect bitcoins like this for two years, you will collect $2400 worth of bitcoins. If Bitcoin reaches $100000 in the next bull run, you can make approximate 1x more profit than the current situation. That means you will get 1 times more of your investment. But if you hold it for a long period of time, your bitcoins can definitely turn into a large asset. Because in the long run 1 million bitcoins is not impossible.

[CryptounityCUT]

Let me first thank you for the chat. I would also like to congratulate you on being a part of the Bitcoin community.

Each person who invests in any financial asset has their own methodology or investment strategy. In your case, it's called DCA (Dollar-Cost Averaging), a basic strategy where you monthly invest a certain amount you are willing to put into the Bitcoin market.

Note that you are not late; at the moment, the crypto market is small, with approximately 500 million people in the crypto space. According to Statista, by 2027, a new wave of 500 million people will enter the crypto space.

We know different, more advanced DCAs backed with technical analysis, but this takes time to understand and implement into your methodology.

It's important to note that all those price predictions are not 100% correct, and many of them were actually incorrect, as evident from the current price of Bitcoin compared to their predictions. Nonetheless, people's mentality is constant growth in knowledge, price, and the number of products they are focusing on. So, it's reasonable to anticipate that the future price of Bitcoin will go up. Any investment made today is positioning yourself in the market at a certain price. If you already bought and keep buying Bitcoin, it means you are in the market, and you haven't missed anything.

If you expect to make millions from your investment, I'm sorry, but this kind of thinking is not in place. What matters most is to invest an amount you are willing to psychologically accept if it is lost. The value received is not measured by wealth but by percentages of the income of the investment.

Another question you need to ask yourself is, if you can or will become a millionaire or whatever from Bitcoin profits, what will you do with your money? Would you sell Bitcoin to cash out and invest in something else, like real estate or other financial assets? The real question you need to ask yourself is why are you buying Bitcoin and why do you want to sell it?

My personal opinion is that I will never sell my Bitcoins no matter what because the background is too interesting for me (retail) and for many people who are whales. I will buy Bitcoin even if the price reaches $120k. Of course, we are in the middle of major Bitcoin events, so first, we will see how this will develop, but it won't stop me from buying Bitcoin.

[pawel7777]

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.

Is he aware of you using his credit card for such expenses? Isn't the $100 allowance meant for such purpose? If you're stealing from your own father, then you got much more serious things to worry about than BTC investment.

(...) 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 feel", "I'm worried" - these are emotions, and you should minimise them as far as possible. Making emotional decisions almost always leads to losses.
If the $100/month is all you can afford, then why would you even care if other people invest more or less? What difference does it make to you?

That being said, if you're aiming for a shorter term investment, i.e. buy now and sell at the top of next bull run, then you have to figure out which indicators to use to know when to stop buying and start selling.
And you're unlikely to make any life-changing profits. The times of BTC doing x1,000 or x100 are long gone. The price is unlikely to go up more than x3 or x4. So be realistic in your expectations.

[serveria.com]

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.

Enough for what? To become a billionaire? Hardly. But you can still earn a neat amount of money if you'll hodl for long enough. Of course, you can afford to invest (much) bigger amount if you'll find a part time job. Just some basic side hustle, perhaps something you can do online.

[uneng]

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 not about being enough, rather it's about being what you have disponible to invest at the currently moment. You are doing what you can to not miss the bull run and your effort is valid. While your colleagues are spending their allowances with drinks, parties, girls, clothes and accessories, you are thinking about your financial future, and that is really honorable.

Feel proud about what you are doing and don't compare yourself to other investors: keep in mind each investor is unique and has an unique reality. The important is to do the best you can with the tools you have under your disposal. There will be always people below and above you in every senses, those are their personal paths, which shouldn't be measured by others for comparison reasons.

Not every students have a mindset focused in investments and long term goals, congratulations! I hope you succeed!

[Jegileman]

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.

The amount invested in bitcoin always depend on the amount you have as income and the one you can set aside to invest in bitcoin. If you can afford $100 per month using DCA, you have made the right decision and you’ll see that in no time your savings have grown to $1K with this consistency.

Don’t feel pressured about what other people are investing in bitcoin, some have enough income than you while some must have taken a wrong step in buying those bitcoin to keep, either by loaned money or investing and making themself inconvenient living a normal life like others.

[mirakal]

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 bitcoin with $100 monthly is already a good amount for a student like you. You don't have to invest bigger than what you can afford to lose, as you are still dependent to your father and is still not making a stable amount of income. Invest on your own risk.

But I also have this question in mind if you are going to invest all your allowance, then where will you get the money that will be used for unexpected expenses? You have to reserve funds like for your emergency funds so that you will have something to spend in times of emergency cases. Investing is good, but always prioritize saving for emergency funds and just only decide to invest when you have spare money available.

[blockman]

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

In my country, $100 per month is already if it's going to be allotted to an investment. Like it's a budget of a single to two person per month for food and other trivial things and that's why it's enough for me if I'll allot that much in the process of DCA.

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

You'll be much worried if you'll keep waiting for the approval of other people before you invest. And that's why buy now and start your DCA process before the halving or even after the halving. There's more to come to Bitcoin and about ETFs? They'll naturally and likely going to get a higher success rate of approval so, just do your thing and buy.

[serjent05]

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.

Enough for what? To become a billionaire? Hardly. But you can still earn a neat amount of money if you'll hodl for long enough. Of course, you can afford to invest (much) bigger amount if you'll find a part time job. Just some basic side hustle, perhaps something you can do online.

If the trend of the Bitcoin cycle continues, $100  a month for Bitcoin investment will be enough to make a very good profit in the future.  If @OP is willing to be consistent for 3-4 Bitcoin cycles (4 year bitcoin cycles), I think @OP will be getting a huge profit from this investment.

@OP is still young so there is many years ahead of him and if he can consistently execute his plan monthly for 12 years...  I can't imagine how much this guy will be gaining assuming that Bitcoin 4 year cycle never failed.  So I highly agree with what LFC_Bitcoin stated.

You’re obviously very young so have plenty of time. $100 a month isn’t going to make you rich any time soon but as part of a diversified portfolio, $100 a month for your working life will make you much wealthier than most of your peers.

$100 a month will set you up really nicely as a retirement pot. Bitcoin will likely outperform traditional stocks and bank savings accounts for the significant future.

[Silberman]

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 bitcoin with $100 monthly is already a good amount for a student like you. You don't have to invest bigger than what you can afford to lose, as you are still dependent to your father and is still not making a stable amount of income. Invest on your own risk.

But I also have this question in mind if you are going to invest all your allowance, then where will you get the money that will be used for unexpected expenses? You have to reserve funds like for your emergency funds so that you will have something to spend in times of emergency cases. Investing is good, but always prioritize saving for emergency funds and just only decide to invest when you have spare money available.

That is what I was thinking as well, investing all the money that you receive each month is not possible, even those that have a job and do not have many expenses still need to reserve some of that money to cover their daily necessities and any unexpected expenses that may appear, so a more sensible amount will be to invest 50 dollars per month, which is only half of what the OP was planning, but this is an amount that could actually be sustained over a long period of time.

[retreat]

My advice as someone older than you, don't force your will to invest in Bitcoin. Your father gives you $100 of allowance so you can use it for your needs, not for investment. You already get an allowance, but you still use your father's credit card for your expenses just to invest in Bitcoin, I'm sure your parents' reaction will not be good. So instead of that being a problem, it's better for you to focus on your studies and not think too much about investing in Bitcoin.

[flyingcarpet]

My advice as someone older than you, don't force your will to invest in Bitcoin. Your father gives you $100 of allowance so you can use it for your needs, not for investment. You already get an allowance, but you still use your father's credit card for your expenses just to invest in Bitcoin, I'm sure your parents' reaction will not be good. So instead of that being a problem, it's better for you to focus on your studies and not think too much about investing in Bitcoin.

I agree with this advice because the OP may be making the wrong moves to invest. We have all had times when we wanted to invest but couldn't. To change this situation, it would make more sense to start investing after we have a regular income and have met the needs of ourselves and our family.

Bitcoin always offers an investment opportunity, I think it's never too late for Bitcoin, and the crypto market will never stop moving. Investment should be made with the right moves under the right conditions and should not be rushed.

[BTC_Dragon]

I always say just invest what you can, don't overextend yourself. It all adds up in time! You're ahead of the curve IMHO already at your age with BTC, OP.