Planning to invest in Bitcoin to perform Hajj.

[iBaba]

And I would like to know your opinion whether this plan will be successful in the long term and aims to provide additional funds to carry out the long-desired Hajj. My mother is currently 60 years old and wants to perform the Hajj at the age of 70, and my mother also has savings that she has been working on for a long time and also has the same goal and is sometimes used for emergency funds.
And with this I took the initiative to plan this which I will do in stages and my plan is, using $3 a day from my mother's grocery store in 30 days = $90 that I will spend in Bitcoin every month. And I will also increase my purchases when my mother has excess money or unexpected money because that often happens.

And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

I think this is a good decision to start with, it is like investing in the future for a long time to ultimately benefit when the funds are well established. It takes a lot of courage for you to be able to set aside some cash every blessed day out of the business. For me, that would be one of the strongest decisions to make because being able to calculate from now to the next 10 years, which you guys are looking at for your mom, and standing to contribute $3 every blessed day for ten years is a huge task ahead. While I would continue to encourage you to keep up with that arrangement and planning, I would also advise that if you can raise it to $5, it would make a lot of things easier, pending on how you are managing your profit and loss in the business. If the business is in good standing, you can raise it to at least five dollars so that you can have more saved up in a shorter period of time.

I think the above-mentioned would be my own option; it is what I would adopt because I feel like contributing from now to the next 10 years is not going to be easy, rather contributing for the next 5 years would be more feasible. Maybe before then, you would have even gotten some good money to add to whatever you have to make the trip happen sooner. Life is not guaranteed for anyone, and you can’t be sure if a 60-year-old woman would last the next 10 years, even though everyone prays to live long. But using the years of savings will help to get her there as soon as possible.

I think it is better to reduce the years for Hajj and add more resources to the savings as long as it doesn’t affect the business or your profit. After every day, you do calculations to see what your return on investment is, and then you do the plus and minus to see what is left as a surplus. So, every profit you make, if it is $10, you can take out $5 for the savings while leaving the rest in the business. By the end of the month, you would have $150 to buy your USDT and invest in a DCA approach. Another quick advice would be to let the money you are saving be solely for investment and not for trading. Do not trade the money, even if you think you can make more profits. It’s better to continue with the savings and investment according to your calculations rather than using it for trading, which could lead to losses in the end.

Isn't Hajj a yearly celebration for Muslims? I believe it's where you do a pilgrimage to Mecca right? If so then I'll have to say to you that depending on where you live, you either be able to afford the trip for the Hajj or not. I think that if you're far from Mecca, it would be a good decision for you if you increase your DCA to $10 because you're going to have a hard time buying the tickets for a flight if it's only $3 a day, and bitcoin price is still uncertain as to whether it will go up or down so it might be a good idea to increase your investments or find another way to fund your trip so in the case that you're not going to profit from your bitcoin investment, you would still be able to do the pilgrimage.

Yes, it is one of the Pillars of Islam, and it is one aspect of faith along with prayer because there you also perform prayers. So, I think it is a vision for every Muslim out there across the globe to visit Mecca. It is also his mom’s dream, I believe, like every other elderly person eagerly awaiting the opportunity to travel to Mecca as well.

[swogerino]

I think it is a relatively good plan.I live in a Muslim country for quite some years now and although it is one of those countries where the majority of population is Muslim most of them do not really care about religion here,anyway I want to point out that the price of Hajj has increased dramatically from what I hear here,now they ask for 4000 EUR for a single person,for an agency to do everything for you.

Maybe you should do the same for your mother,after you collect money after a couple of years with that plan you should be able to achieve what you want and as such you buy your mother the full package needed to do that holy ritual.

[Zlantann]

And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

I am religious but I don't see visiting the so-called Holy Land as something paramount to me. When the government of my country allocate millions of dollars to sponsor these pilgrimages, I see it as a waste of funds. The money could be used to engage in development programmes in the country. For me, I don't think I will ever save because I want to engage in religious obligations like pilgrimage. I would prefer to give the money to charity than to go for such an adventure.    

As long as you are a muslim, it is always their dream to go to Mecca to see the holy land, and I am on support of it, as long as that is their tradition. I have a lot of people down here that goes to Haji, and when they come back, they will become and Alhaji, or Alhaja, with golden tooth. I have always wonder how that place will be during such event. One man food is another man poison, and this is why sacrificing for a religious trip is something I admire a lot. I just hope that OP, will be able to use the planned amount to accumulate bitcoin consistently, so that in ten years time, his mom can accomplish her heart desire.

I am not discouraging OP from saving for his mother's pilgrimage, nor did I say it is not worth engaging in. I only spoke my view on going on pilgrimage. If what thrills you in going for the Hajj is becoming an Alhaji or fixing a golden tooth, then you have failed to understand the significance of going to Mecca. The Hajj has more important significance than the title, sightseeing, or the things you will buy there. My position that the funds used to sponsor pilgrimage should be channeled to other development projects is because my country has more priorities. A country that cannot provide basic amenities for its citizens shouldn't cannot provide basic amenities shouldn't be spending money on pilgrimages.  Another reason is because there has been no true change in the behavior of some people who go to these special events. Most of the most corrupt politicians in my country visit these Holy Lands consistently but they are still more wicked. Like I said,  it's just my personal view.

[Rruchi man]

And I would like to know your opinion whether this plan will be successful in the long term and aims to provide additional funds to carry out the long-desired Hajj.

When you make plans with a goal, you become very determined and disciplined along the line to make sure that you meet the goal. When plans are made without any solid goal to meet, along the way you could get distracted and then fall into the pressure of failing to follow through the plan that you made.

Because you have a goal for the Bitcoin that you're investing in currently, I am positive that you will be able to meet your goal and target and even stay disciplined.

 As a bonus point for this target that you set for yourself, after you have successfully been able to send your mom to hajj, the character and discipline of investing with a goal would have already been developed, and that's an extra plus to carrying on through life.

[Sanitough]

A huge respect and amazement for the way that idea was developed by you and your mother.
That being said, you are free to invest that much, and who knows? Maybe one day you and your mother will be able to perform the Hajj.
In the meantime, don't worry about the price of bitcoin; perhaps you believe it is time to withdraw your investment, and perhaps at some point in the future, when its value rises, you'll regret cashing it out too soon. If you maintain a sufficient level of consistency, I believe it will eventually have an impact.

Your plan is great OP. If you can do it more consistently, I believe your goal will definitely be realized in time. Just continue to buy and hold bitcoin regardless of its price. And take time to sell if you see available profits, but I mostly suggest to only sell when a new all time high will achieve, and bull run takes place in the market.

For now, focus on doing DCA with bitcoin. If you can add your personal extra funds, then the more massive your profits will be in the future. Perform DCA with patience, that way you won’t be attracted to sell your bitcoin when sudden price correction appears in the market.

[Hypnosis00]

Thank you all, and actually this goal is not only to fulfill my mother's wish to perform the Hajj, but to ensure my mother's old age too.
Everything has been thought through carefully, and the figure of $3 per day has been considered after prioritizing essential needs, and what's more my mother still has extra monthly money from her other children which I think will be fine.
Once again, thank you for your input and prayers, and also pray that what you all hope for can come true.

We've always been motivated to work hard because we want someone to fulfill their dream and become happy. But without a good plan, it seems to be impossible. There is no stopping to a person who has the motivation and desires as we surely find ways how to make it possible.
Saving $3/day is big enough for some people as when accumulated, that is $90 in a month. Maybe you can increase the amount to $5 once your business has become established.

Good luck with your journey buddy. It will take a little bit longer but doing this consistently, little by little, it become big soon.

[nurilham]

-snip- my mother has great hopes that Bitcoin can provide good profits in the long term, she wants to use these profits to perform the Hajj or can be used as extra money which my mother has long planned.
-snip- I took the initiative to plan this which I will do in stages and my plan is, using $3 a day from my mother's grocery store in 30 days = $90 that I will spend in Bitcoin every month. And I will also increase my purchases when my mother has excess money or unexpected money because that often happens.

It is a good idea to invest in Bitcoin for 10 years at least. If you can invest $90 monthly, it means you can invest $1,080 each year. In 10 years, you already invest $10,800. It is only the capital, the amount of money should be higher because of the price of Bitcoin is always growing. If you invest the Bitcoin more than 10 years, I'm sure there will be a huge profits with the capital more than $10,000.

However, the challenge is to keep the commitment to always invest every month. 10 years isn't a short of time, there should be many challenges. Moreover, our economic won't be always stable, sometimes we have a little problem with the financial stability.

[BITCOIN4X]

I took the initiative to plan this which I will do in stages and my plan is, using $3 a day from my mother's grocery store in 30 days = $90 that I will spend in Bitcoin every month. And I will also increase my purchases when my mother has excess money or unexpected money because that often happens.

Really, you can do it and do it consistently. The realization of the profits you hope to get really depends on how long you are able to hold your mother's investment. You may want to consider buying heavily while prices are low and selling during the next bull cycle. If you just accumulate for the next 10 years without selling, you may end up with less bitcoin than if you sold and re-invested at a low price.

Regardless of your investment goals, you just need to know that bitcoin is the most potential asset that can give investors returns. $90 a month is definitely better than nothing, but have you told your mom the consequences including wallet security and private key backup?

[sunsilk]

Do it, brother.

Your plans seems plausible and doable than of those that are just desiring to invest but they don't do any initiative at all. If that's the most convenient amount for you and your mom, do it.

As long as it's not going to affect anything on her life, that's so much better. We will never know how much that $90 per month will be in the upcoming bull run up to a decade.

[alastantiger]

You have my support and my prayers are with you as you move to achieve this goal set by yourself for your mother. I see it as you are honoring your mother. As someone with Muslim friends I understand how important goal is to you and your mother. I want you to consistently review the amount not too fast but if there are anything you can do within this period of the goal setting to its accomplishment that would help you achieve it faster, then do it. If you have a big financial break during this time, take a portion of it and invest there. While you are on this do not ignore the most important aspect of security. If you do not secure your funds and store them well in a good open-source wallet, you will lose them to scammers and hackers.

[oktana]

It is such a thoughtful thing to do. Doing the maths, it means that in a year, you’d have $1,095 and in a decade (when she’ll be doing her Hajj), that will be $10,950. But the good thing about this is that it is Bitcoin; So not only are you saving, you’re investing too. Bitcoin in the next 10 years will have better value than what it does right now so it is a good plan. Best of luck! Also, can’t you invest it weekly instead of monthly? I just think a month is too much time.

[synchronym]

I have an investment plan for my mother by collecting $3 every day from the results of my mother's business and that $3 is a small portion of my mother's business profits. My mother owned a grocery store and after my father died, I built a grocery store for my mother with the goal of giving my mother something to do at home.
And my mother already knows that I have been involved with Bitcoin for a long time and I have discussed this, and my mother agrees because she knows the benefits and changes that I get from Bitcoin in the long run. And my mother has great hopes that Bitcoin can provide good profits in the long term, she wants to use these profits to perform the Hajj or can be used as extra money which my mother has long planned.

op First of all thank you very much for taking this initiative. Every Muslim wishes to perform Tawaf once in the house of Allah, may Allah help you to fulfill your mother's noble wish. But there are risks in Bitcoin still you must have a long term plan in Bitcoin investment check the market and invest patiently you will surely succeed. Of course you have to be a little more cautious in investing as you are saving some money from your mother's business and the money you are investing in Bitcoin itself is definitely going to be used for many noble causes so definitely wish you all the best to make your mission successful. Your mother is very  Wishes for your mother and you to be able to perform Tawaf in the House of Almighty Allah.

[Essential10]

OP, I respect the initiative that your mother and yourself have taken. You plan to invest $90 per month in Bitcoin and after ten years mother and son want to go to Hajj together from the money received from Bitcoin. Hope you will be successful in long term DCA method investment. Man will not live forever, no one but the Creator knows when he will depart from the earth. I would like to say that whatever you venture into Bitcoin, keep it up, be patient in your long investment journey. May God keep your mother and you healthy, may your dreams of Hajj come true.

[khiholangkang]

It is such a thoughtful thing to do. Doing the maths, it means that in a year, you’d have $1,095 and in a decade (when she’ll be doing her Hajj), that will be $10,950. But the good thing about this is that it is Bitcoin; So not only are you saving, you’re investing too. Bitcoin in the next 10 years will have better value than what it does right now so it is a good plan. Best of luck! Also, can’t you invest it weekly instead of monthly? I just think a month is too much time.

Maybe he thinks it's better to make monthly purchases to save on purchase transaction fees and transaction fees to his personal wallet, I think that's a pretty logical reason considering transaction fees are quite expensive these days.
 And to invest, he is or will be investing, not saving, it's just that what is his goal is to go on Hajj to carry out worship, and I think it doesn't matter whatever the goal is why they collect (invest) bitcoin it is their right. And from the amount collected, we have not seen that the capital gain that will be obtained by OP, because the price of bitcoin continues to increase, especially in a matter of one year, of course, it will be a very bullish momentum in the four-year bitcoin cycle.

[2Pizza410000BTC]

I have an investment plan for my mother by collecting $3 every day from the results of my mother's business and that $3 is a small portion of my mother's business profits. My mother owned a grocery store and after my father died, I built a grocery store for my mother with the goal of giving my mother something to do at home.
And my mother already knows that I have been involved with Bitcoin for a long time and I have discussed this, and my mother agrees because she knows the benefits and changes that I get from Bitcoin in the long run. And my mother has great hopes that Bitcoin can provide good profits in the long term, she wants to use these profits to perform the Hajj or can be used as extra money which my mother has long planned.

And I would like to know your opinion whether this plan will be successful in the long term and aims to provide additional funds to carry out the long-desired Hajj. My mother is currently 60 years old and wants to perform the Hajj at the age of 70, and my mother also has savings that she has been working on for a long time and also has the same goal and is sometimes used for emergency funds.
And with this I took the initiative to plan this which I will do in stages and my plan is, using $3 a day from my mother's grocery store in 30 days = $90 that I will spend in Bitcoin every month. And I will also increase my purchases when my mother has excess money or unexpected money because that often happens.

And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

Every Muslim has a desire to perform Hajj. I support your mother's decision to perform Hajj. But I would be more supportive of sending your mother to Hajj with your mother's hard-earned money or your own hard-earned savings rather than Bitcoin investment money. Because Hajj purifies a person's life completely and his mind becomes pure like an innocent child, it is in Islam's view to perform Hajj with pure and pure money. When you invest your daily savings in Bitcoin and grow from there, your money may turn into a compound interest. Bitcoin may not be halal in the eyes of Islam so I can't give you proper advice here. One can suggest Imam sahib for nice answer if imam sahib can give you right advice then you can proceed with your decision for your mother. May your dreams come true and we always hope that we can send our parents to Hajj.

[Bd officer]

And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

I pray that your mother's intention to perform Hajj is successful. You mentioned that your mother is now 60 years old and she will perform Hajj in 70 years, I wish your mother long life. If you invest $90 per month in DCA method for 10 years, your investment amount will grow a lot. You continue to invest in DCA method every month and hopefully you will be successful. Best wishes for your mother.

[cryptoWODL]

The person you respect is your mother. We hope your mother's dream of performing Hajj will come true. Every Muslim man and woman dreams of performing Hajj one day in her life.

I heartily support the initiative you have taken to fulfill your mother's desire to perform Hajj. Because depositing $90 in bitcoins every month is a good amount of depositing bitcoins. But I have a problem that depositing bitcoins for 3 dollars per day is here but there are high fees. So if you deposited $90 at the end of the month instead of $3 per day, your fee might be lower.

Performing Hajj is a sacred act of worship in the life of our Muslim Ummah. However, many countries do not consider Bitcoin as valid or halal in many countries where you wish to fulfill your mother's Hajj wish with Bitcoin. I don't know if bitcoin is considered halal in your country. If bitcoin is not considered halal in your country then your mother should not perform Hajj with bitcoin money as I think.

[FinePoine0]

I have an investment plan for my mother by collecting $3 every day from the results of my mother's business and that $3 is a small portion of my mother's business profits. My mother owned a grocery store and after my father died, I built a grocery store for my mother with the goal of giving my mother something to do at home.
And my mother already knows that I have been involved with Bitcoin for a long time and I have discussed this, and my mother agrees because she knows the benefits and changes that I get from Bitcoin in the long run. And my mother has great hopes that Bitcoin can provide good profits in the long term, she wants to use these profits to perform the Hajj or can be used as extra money which my mother has long planned.

And I would like to know your opinion whether this plan will be successful in the long term and aims to provide additional funds to carry out the long-desired Hajj. My mother is currently 60 years old and wants to perform the Hajj at the age of 70, and my mother also has savings that she has been working on for a long time and also has the same goal and is sometimes used for emergency funds.
And with this I took the initiative to plan this which I will do in stages and my plan is, using $3 a day from my mother's grocery store in 30 days = $90 that I will spend in Bitcoin every month. And I will also increase my purchases when my mother has excess money or unexpected money because that often happens.

And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

Your dream will surely come true, and your mother will be able to perform Hajj in Mecca. If you had made this plan at the beginning of 2023 then surely your Hajj would have been completed in this year by now. Because when the price of Bitcoin is 15.5K was the best time to invest, and now is the best time to reap the maximum benefits. There is still time to invest in Bitcoin, as there is a Bitcoin halving in 2024. If you start investing from 2024 then there is definitely a big bull run of 2025 where Bitcoin price is likely to increase to the maximum extent. So I think if you continue to invest from now and invest till 2025 then surely your mother will have complete Hajj money.  It is guaranteed that everyone succeeds in investing in Bitcoin.

[redsun114]

I wish that the almighty give your mother and you a long life so that you guys can perform the holy ritual in the year you have planned for it.

It feels good when children take care of their parents when they age because these days, you can barely find children who care that much for their parents and make this much effort to make their dreams come true.

I would say it should be enough if the price of Bitcoin keeps going up but you should have strategy that would save you from major dumps and corrections and also cycle changes which means that when you see that the bear market is approaching, you should sell your Bitcoin that you have accumulated so far and then buy again when the price goes down.

[Cheema02]

I have an investment plan for my mother by collecting $3 every day from the results of my mother's business and that $3 is a small portion of my mother's business profits. My mother owned a grocery store and after my father died, I built a grocery store for my mother with the goal of giving my mother something to do at home.
And my mother already knows that I have been involved with Bitcoin for a long time and I have discussed this, and my mother agrees because she knows the benefits and changes that I get from Bitcoin in the long run.
And I ask for prayers from the BTT Forum which I respect so that my mother's dream of performing the Hajj can come true.

I think investment in Bitcoin is a long-term goal that will be a great benefit and success to your mother's dream of performing Hajj. By collection 3$ daily is enough and 90$ every month will help you to perform your mother's wish to perform Hajj. As Muslim hajj is a very important pillar in Islam and if you have money then it will be mandatory for every Muslim to perform a Hajj. According to my research the average cost price of performing hajj is 5k$ in your Ban country. You have to collect 3$ daily for the next 5 years to collect money for your mother's dream. Investment in Bitcoin is more beneficial if the bitcoin price increases in the coming years then there will be a good Chances for you to perform hajj in the next 2 to 3 years depending on the price of bitcoin.