Planning to invest in Bitcoin to perform Hajj.

[8rch7]

What the amazing with your decision helped your mother by investing in Bitcoin to perform Hajj, actually based on your amount investment in daily day around $3 and worth $90 every month depend with your country how much cost to perform hajj. In my country after revision with new regulation cost around $4,000 and if you can comparison with my country cost to perform hajj need around four years. I think its good ideas and seems possibility for your mother to perform hajj but depend with your country regulation how many years for waiting list?
If your mother have been older better use to perform Umrah and spending around three years seems enough by spending $3 every day, its not count with increasing values of bitcoin when price up drastically but you have prepare fi bitcoin get lower price.

Wish your planning come true and can help your mother perform to hajj.

[bettercrypto]

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.

90$ every month you will spend to buy bitcoin not bad at all, what you think is good, and I rarely see such strategies in terms of dca for Bitcoin. Actually, the 3$ daily is not a small amount, it's actually a big amount, it's just for me.

You are lucky op and you have the ability to save that much in bitcoin in a regular day with your mother's grocery profit. Your mother won't feel that, in fact, if I look at her, it's equivalent to your royalty income from your mom's grocery. Congratulations on your plan.

[salad daging]

That means you have 10 years to perform the pilgrimage and I think your plan is good by investing some money into bitcoin because we know bitcoin as long as it goes through the cycle it increases so with 10 years there are 2 cycles that will be passed so the possibility of your savings being profitable.

In my country if you want to go on Hajj it's waiting for decades and the news is now the cost of going there is going up again because of government policy, but I know every country is different with the rules that exist so I'm glad you want to fulfill your mother's wish to perform the Hajj.

I support your initiative by allocating what you can afford every day $3 to bitcoin and it will be spent every month, maybe this way you can have hope where when it's time to go to Hajj the value of bitcoin is even higher.

[SatoPrincess]

And I use this investment method not only to perform the Hajj, but for everything including old age security. And my mother has also registered for Hajj, which is most likely if there are no obstacles around 2030 or before that, depending.

So the Hajj is supposed to take place around or before 2030, that gives you 4-5 years to save up for the trip. $90 a month x 12months x 4years or 5 years = $4,320 or $5,400. That’s the amount you would have if were buying usdt but since it’s bitcoin, we can assume that the price of bitcoin would have increased during this four year period and the worth of coins would have added value.

PS: You’re yet to tell us how much the Hajj costs, I believe you have made inquiries and have an amount you’re working with.

[The Cryptovator]

I will prefer that you don't wait for Bitcoin returns to perform Hajj. If you can afford it, send your mother to Hajj as soon as you can manage everything. Whatever you are investing in, keep going, and once in a while, this will help you in your life. I am saying that because you have good intentions, we don't know if your mother will live more than ten years. But I prefer to achieve her dream of performing Hajj. $90 invested per month is a good amount. Yearly will be a bigger amount. So keep it up. When you have funds to send your mother to Hajj, just do it. Don't wait for Bitcoin ROI. 

[Dr.Bitcoin_Strange]

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.

If you have been into Bitcoin for a long time, like you said, then you will know that Bitcoin has two seasons, which are the bear and the bull market. Like you said, your mom is still 60 years old, and your intention is to continue DCAing for 10 years, which means you will encounter two bull and bear markets along the way, and definitely you will sell at a high price if you sell on the last bull market before your Mum turns 70 years old. If you invested $90 per month for 10 years, you would have about $10 to $11k, and if the bull market experienced a very huge price pump, you would definitely have more profit that could give you more than $2k. 

I think this is a good idea, but your Mum is the one managing the business; she should be the one to determine the amount that can be pulled off from the business every day. She has to analyze her daily profit to know if removing $3 per day is normal for the business or not. She will also determine if she can even remove more than $3 every day and it would not affect his business. 

Good luck with your plans, bro, and I wish your mom a long life. Do share your success story with us if we are still here in 10 years. 

[EarnOnVictor]

To be honest with you, I believe you are taking this too far than it is. First, you've already known Bitcoin and are a gainer in it as well, am I correct? You can singlehanded sponsor her on any trip by then  (10 years time) even without stressing yourself or her with any plans like this. But if she must do it this way, the hajj is still 10 years from now since your mum is 60 years old and you guys plan it for her 70th age. This means that the time is far with the daily $3 you planned to be saving from her grocery store. If successful, she would have even had the money to sponsor other people and feed them for the hajj and not herself alone...

This consideration is still a plan outside Bitcoin and other investments, not to think of adding the multiple income that would be added through the involvement of Bitcoin. I am certain that it is already a success if you can be committed to it.

[blckhawk]

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's an annual pilgrimage and probably the most important pilgrimage of all for Muslims because Mecca is the holy land for Muslims and a lot of Muslims will have this on their list as a thing that they should do once in their life, it's a big deal and I am rooting for OP to be able to get that dream because it's such a profound goal and even I a non-Muslim do want to go and do that but I believe that I'm not allowed to do. Totally agree on adjusting the investment depending on the location.

To be honest with you, I believe you are taking this too far than it is. First, you've already known Bitcoin and are a gainer in it as well, am I correct? You can singlehanded sponsor her on any trip by then  (10 years time) even without stressing yourself or her with any plans like this. But if she must do it this way, the hajj is still 10 years from now since your mum is 60 years old and you guys plan it for her 70th age. This means that the time is far with the daily $3 you planned to be saving from her grocery store. If successful, she would have even had the money to sponsor other people and feed them for the hajj and not herself alone...

This could work too but think about the fact that he's probably going to give this trip as a gift from her mother, it's something that would definitely be appreciated by OP's mother and I get your plight that if OP can hodl, he can probably grow the investment to the point that it's nothing for him to fund or sponsor the trip or maybe even bring a trip for the whole family.

[kryptqnick]

Starting to save money 10 years in advance sounds like a decent plan. $3 per day means $90 per month, which is a good monthly amount to do DCA with Bitcoin (regularly invest the same amount). Considering the fees and convenience, collecting $90 and investing them monthly into Bitcoin makes sense to me. Of course, nobody knows how Bitcoin will perform in the long run, but if the last decade in any indication, a decent profit can be expected. Even without the profit, 10 years of saving up $90 per month would bring the total of $10k, which seems to be more than enough for Hajj, from what I read online.
But you have to keep in mind that Bitcoin investment is risky, so maybe putting the money for something as important into it can be a mistake. Perhaps doing 50/50 fiat and Bitcoin is more wise in this case, considering that $5k should be also enough for Hajj, and that this way, you're investing in Bitcoin what you can afford to lose, which is the golden rule of investment.

[Kelward]

What you just said is what we call the DCA method or dollar cost average which is the process of acquiring Bitcoin through regular intervals instead of buying Bitcoin one time big time. Usually DCA method is preferred because it can mitigate risks investment brings. I think it is a good idea that you have shared to your mom about bitcoin and she is also willing to participate. I do not know how much you need to perform Hajj but I believe that you can earn profits through this method.

I hope that your mother's wish come true. Sending all the best for you and your mother.

Infact the DCA method that you mentioned is the best strategy especially for average income earners to be accumulating Bitcoin, to keep hodling until the time when it's needed for any perticular project, plus Bitcoin is one of the best investment that anybody can engage in because if held for a long term, it'll keep increasing in value thereby adding returns on the investment capital. I'm glad that the OP has crypto knowledge and imparted it to his mum, so that they can have a long term sayings plan for the mum's Hajj. Saving in Bitcoin, is by far better than keeping money in the bank, because Bitcoin guarantees the holder many times over ROI in the future, while money in the bank can only give a minimum interest. Good luck to the OP and his mum as they plan for her hajj.

[bitLeap]

Yes and thanks for this. But I already know and have studied everything, because the Hajj pilgrimage is obligatory for Muslims, even though I can afford it. And my mother really wanted to go there to fulfill her obligations, and my mother also performed the Umrah with my father when my father was still alive.
And I use this investment method not only to perform the Hajj, but for everything including old age security. And my mother has also registered for Hajj, which is most likely if there are no obstacles around 2030 or before that, depending.

I hope everything goes smoothly according to the predetermined targets and that your parents are always given a long life. If you invest in Bitcoin until 2030 it could be more than you expect even if you take into account the increasingly massive adoption it doesn't rule out the possibility that there will be additional tickets for you so you can go there together.

what is clear is that not all of us can afford DCA/day. always have a structured plan especially when purchasing. maybe for example, at this year's Halving you can TP first and start DCA again afterwards.

[Learn Bitcoin]

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.

Best wishes for you and your mother. This is a good plan But,,,,,,,
If you have to ask for others' opinions about the investment and the plan, you are not ready for it buddy. What you can do is, strict with what you say and you may share it with others as an announcement. If she is planning to do the Hajj after 10 years, this is a long-time buddy. I don't know where are you from. But, if you save $90 a month, it will be almost $11K which is a big amount. I don't think she have to spend that much money. I believe her $11K will be $30K after ten years. I would love to suggest you not to invest too much. Ask her to save whatever she want. Moreover, you should always be ready cash profits from the bull run and buy back again when it's dip market.

[Ricardo11]

First of all I want to say, Alhamdulillah.  Because you are thinking about the Hereafter, we all have to accept death, if we don't do good now, we will have to suffer eternal punishment in the Hereafter. For this reason every person wants to perform Hajj before death. You have been saving for a long time, the purpose of Hajj. I think planning to perform Hajj is the best thought in the world. In this our Creator Almighty Allah will be pleased with us. I pray that your mother can perform Hajj. And at the same time, may Almighty Allah Ta'ala grant every member of this forum the opportunity to perform Hajj, Ameen.

[NNRR]

As a Muslim doing something with the intention of going to Hajj is a good intention but still you should know if Bitcoin is actually valid in Islam and you can send your mother to Hajj with your investment money for that you should listen to a good scholar that Bitcoin is actually valid in Islam.  Is it halal in sight?

[Queentoshi]

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.

Your mother trust you because you have successfully opened a shop for her and then she sees you as a very responsible young man that she has raised up. I believe that this your plan to save some little amount of profit from her grocery store to invest in the hope to make profits for her to be able to achieve her lifelong desire will work if you are disciplined and then ensure that the bitcoins do not get stolen or lost along the way. Imagine at the end of your journey and when she has finally seen the profit from the investment in Bitcoin, her testimony will be large and never ending because she will tell her friends and anyone she comes across that Bitcoin helped her to be able to achieve her lifelong desire of going for Hajj. I believe that because of her age a lot of people will be interested both people from her age grade, and people who look up to her as someone reliable that cannot tell lies.

[LogitechMouse]

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.

It's always good to hear somebody who's been supported by their parents when it comes to investing in cryptocurrency. Unfortunately, my parent's never got involved in investing hence, they don't know anything about Bitcoin. My sister knows about it that's why she's the one I'm teaching currently.

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.

$90 a month isn't a bad idea already, and you already said that it will not be a huge loss for your family to keep $3 a day just to have some funds you can use to invest. Long-term, it will be a successful one just based on the history, and this opinion is coming from a person who's very optimistic with the future of Bitcoin. Bitcoin moves in cycles, so in that span of 10 years, you might experience 2 bull markets. It's the perfect time for you to take profits and keep those to fulfill the goal of your mother. Of course, you need to keep some for it to be re-invested once the bear market 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.

As a family-oriented person, I will pray for your mother, and I'm already claiming that your mother's dream will come true. Just continue investing, continue working, and don't stop doing it for your mother. Take care always OP.

[aylabadia05]

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.

An initiative that I welcome. As a religious person, I support your plan, friend. Making Bitcoin a long-term investment asset with the hope that the goal of high price returns will be used for religious purposes.
Just increase it to $100 every month which will be used to buy Bitcoin regularly. If it is $100 every month, then in a year you will collect $1,200. If the exchange rate is in local currency like my country's currency, then in 2 years the costs for one congregation will be met.
Not to mention if the Bitcoin price gets a high return from the purchase price.

[Egii Nna]

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.

This is a nice plan that will make you fulfil your mother’s dream, and when you do that for her, Allah will never let you suffer in this world. That is just a fact, and if you are going with the plan that you have already started, which is saving $3 per day, you can save enough money to take her here to Hajj in not more than 2 years, so if she is presently at the age of 60 now, she will be 62 or even 63 to perform her Hajj, which she will also enjoy. Because she will still be strong enough to perform all prayers and du’a that she wants to do without a lot of stress. 

Although you said she also has her own savings, the money that you will be investing in bitcoin will not have any traits that they will think the money can be spent on or have been tempered with, so you came up with a good plan that needs to be encouraged because not all children work tirelessly to see that they try and fulfil the dreams of their parents, but you have put it in your mind that you want to do so, which is a very nice step you made, so may Allah help you and see you true as you are trying your best to fulfil her dreams.

[_BlackStar]

From what I understand after searching on the internet, Hajj is an annual prigrimmage journey to Mecca. I don't know you country of residence but if you can be saving $3 a day in fiat, that will give you $90 in 30 days and $1080 in a year. So in 10 years, you should have about $10,800. This amount may or may not cover the trip to Mecca but saving in Bitcoin will no doubt make your mother's dream a reality because the value must have appreciated over the years and I wish you all the best.

$90 a month isn't bad at all - but if the OP could save more, then maybe he could save more than $150 a month. The OP wants the budget to be invested in bitcoin every month with the DCA method - this is a good option, but he also needs to consider many things before making it a reality.

Price volatility is something the OP needs to consider before proceeding with his plan - apart from that, he could also consider other options such as paying in installments to a special department that handles the Haj pilgrimage every month. However, investment certainly allows you to get a return - but paying in installments every month while waiting for the queue number is a wise choice ^{[if that option exists].}

[Rufsilf]

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.