Planning to invest in Bitcoin to perform Hajj.

[Do or Die]

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.

I agree with your mention of buying bitcoins to profit but look at his investment plan but he decided to invest in DCA method. If he had bought bitcoins at the time you mentioned and since then had invested in the DCA method he would not have had much bitcoins.But if he could have bought more bitcoins at that time he would have owned more bitcoins today. The purpose of investing in DCA method is to hold Bitcoin for a long period of time as investing in this method for a short period of time cannot expect the desired results.

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.

We wish your mother complete Hajj.We applaud your mother's intention to perform Hajj. The initiative or planning you have taken to perform your mother's Hajj is definitely commendable. We who are Muslims must perform Hajj at least once in our life. The investment method adopted by your mother for performing Hajj is DCA method. You mentioned using this method to deposit 90 dollars in bitcoins per month. If you deposit 90 dollars of bitcoins every month then your deposited or invested bitcoins in one year will be 1080 dollars. Maybe this amount of money for one year is not enough to perform Hajj. If you deposit $90 in bitcoin every month like this, you will have to wait at least three or four years before your mother's dream or desire to perform Hajj will come true.

[gabbie2010]

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.

One of the pillars of Islam is going for holy pilgrimage (Hajj) I urge you to try your possible best to fulfill the dream of your mother going to Mecca, though it's a capital intensive project, however with proper planning via your investment in Bitcoin possibly before she clock 70 years the needed funds and travel expenses would be realized and hopefully if the price of Bitcoin pump massively to a new ATH all your invested asset would have yielded and earned you a reasonable profit which should be enough to cover all her pilgrimage expenses, I believe your aim and aspiration is very achievable with commitment and perseverance.

[boyptc]

We may not have the same belief and I don't have idea what hajj is but I also pray for your mother's success and as well as you.

10 years of planning that can do a lot of things. And that means that it is very likely that she can go there and be successful with that plan of hers.

You just guide her and keep her educated about Bitcoin like giving her some special education about what she is investing.

[alankasman]

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.

Bitcoin investment has long been generally known as a type of investment that can gain profits more quickly than investments such as gold. The risk is also higher than the risk of this type of gold investment.
If you plan to invest in Bitcoin to be able to send your mother to perform the Hajj as one of the pillars of the Islamic religion, that's a good plan.

People invest in Bitcoin for different purposes but basically they want profits through high price returns some time in the long term. So you are not wrong if you invest in Bitcoin for the purpose of your mother's pilgrimage.
Instead of expecting returns from gold, expect price returns on Bitcoin in the long term to be bigger and faster because the price fluctuates even though the risk is not as big as investing in gold.

[AnonBitCoiner]

The idea of investing in bitcoin for performing hajj is a good idea and I wish the dream of your mother come true very soon. I will suggest that whenever you find an opportunity that the price of bitcoin increases then sell your bitcoin for getting profit because every time the price is not elevated and the timing of performing hajj is fixed so once you miss the opportunity you will wait for another year.

You are using little sum and are adding little by little to your investment so its a good idea because a person cannot invest while amount at once. Your idea and your thoughts are appreciable so very soon your mother will earn huge sum to perform hajj.

[Huppercase]

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 hope that any answer that you get here, you sit down and reminisce over it before you come into conclusion.

Do you know that investing in Bitcoin isn't nothing to be guaranteed about? You can sure have profits tomorrow but when exactly so you intend to sell your Bitcoin? When your mum decided to make a walk for hajj, will your Bitcoin be at realize profit or be at realize lost where you can sell some portion and let's her go to the hajj because with this calculation, you don't need investment to send your mum there, $90 a month for the next 3 years will get your mum into since you said she already has some savings waiting so she can joined with these one she's anticipating.

If I am in your position, I will not invest everything into Bitcoin, I will half the monthly money which is going to be like $45 and buy Bitcoin and keep the remaining $45 as savings, if when she is ready and you see that Bitcoin has given you the profit you want, then you can sell and if later you don't see much profit, you can use the savings for the hajj and leave the Bitcoin to recover, that's how you can safely do it without risking your mum hajj for Bitcoin only.

[GbitG]

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 really appreciate your thoughts regarding your investment in performing Hajj by his mother.
 
Hmmm, it is quite a good amount if you invested 3$ per day. Simple Match: 90*12=1080*4=4320. After four years, the Bitcoin price will be better than the current price, and I think at this time the price of Bitcion can give a 2x return according to the current price, so if your mother wants to perform Hajj, she can meet her expenses with enough money. 
 

How much does Hajj cost from your country? $90 per month is about $1,000 annually, or $4,000 every 4 years

Seems like he only need around $3K per person, so it depends on how many person(s) will go to Hajj, 4 years is enough if the money isn't used for emergency needs.

The amount of Hajj costs depends on the country, how far you are from Saudi Arabia, If it is a long distance, then obviously your expenses may be higher. Generally, if a woman is to go, she must be accompanied by a man, according to the policy, otherwise, the Saudi Arabian government will not allow her to go to Hajj. So if OP registers his mother for Hajj, then he will register himself or his father too, and the per person cost will be divided. Generally, from Asia, it can cost 5k to 6k, and from European countries, it can cost up to 7k to 8. For accommodation, food, etc.

[Maslate]

We may not have the same belief and I don't have idea what hajj is but I also pray for your mother's success and as well as you.

10 years of planning that can do a lot of things. And that means that it is very likely that she can go there and be successful with that plan of hers.

You just guide her and keep her educated about Bitcoin like giving her some special education about what she is investing.

Hajj is a pilgrimage made by Muslims to cleanse their souls from the worldly sins, and for sure the expenses to go there is quite high so it’s a smart idea to prepare for it for long term, and bitcoin investment would be perfect for that. However, don’t just put all your hopes into bitcoin since bitcoin itself remains to be highly unpredictable and we are not sure yet what holds in the future for bitcoin. Invest but only on the amount you can afford to lose. And I think you are already doing that.

[FinePoine0]

Your mother's purpose of Hajj will definitely be successful by investing Bitcoin. Because if you invest some money in Bitcoin now and keep it in a solid wallet for just one to two years then your wealth will definitely increase. Since our 2024 Bitcoin halving will take place in April, the year following the halving, 2025, will see Bitcoin price boom in a major bull market. Just leave your bitcoins and make tickets for your mother's hajj. It is sure that all investors will invest for a long time because the price of Bitcoin will definitely increase after the halving.

[snowpega]

<Snip>

MassahaAllah You are doing really well i am also a Muslim and I can understand your intentions for your mother and for your religious activities. Hajj is the most important thing we all Muslims have to perform in our whole life once only if we can afford to perform it. Other than that those who can not afford to perform hajj due to their financial instability so there will be no problem for them but we should focus on making ourselves financially stable.

As we all know that we can not Perform Hajj or Umrah if we are not financially stable so it is very important to focus on making ourselves financially stable so it is very important to focus on our financial profile first so that we can perform our religious activity easily.   

[SeriouslyGiveaway]

I very much welcome your plan for your mother. This daily accumulated amount is not too large and will certainly not have any impact on your family, but with the 10-year plan you set, the accumulated principal amount you can reach will be up to 10k USD. And Bitcoin will go through 2 more cycles, the amount of money you will gain at that time can be very large in terms of Bitcoin value, and I believe that your mother's dream will definitely come true if you and your mother have can maintain this cumulative investment. However, I think $90 a month for buying Bitcoin is quite small. You should accumulate money many months and buy once to optimize transaction fees and deposit and withdrawal fees.

[KiaKia]

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.

I am confused a bit, your mother owns a grocery store and after your father died you open a grocery store for her, again? In another location? Or the death of your father caused her to lose the first store?

Anyway, sorry for your loss, may his soul rest in peace, back to Bitcoin investment, we all see where Bitcoin is sitting at today, are you still not confused that Bitcoin can go much higher after the halving in April?

I think it's a good plan, and one that can become a reality if done right, but remember that it's all about your buying point, the timing needs to the right, I don't recommend buying Bitcoin right now, unless a correction happens, buying now is buying the tops, it's safer to wait for a correction before buying.

[Zanab247]

If your mother still have some young ones with her, I will not advise you to invest in BTC to your mother at the age of 60 years which will be difficult for she to keep the seeds phrase always from your siblings and you know that once someone discover the seeds phrase, anything can happen to her BTC.

You can download electrum wallet to store the BTC for your mother and, when time come to sell the BTC, you can sell to cash out the money and send the money to your mother to do the Hajj because, if you invest in BTC to you mother it will not be safe for her.

[JoyMarsha]

From the information I got online, the Hajj of this year will be from 14th June to 19th June 2024, am I correct? I am asking because I am not a Muslim.

Since you have mapped out a strategy of saving up $3 every day from your mom's grocery shop to invest in bitcoin, I hope you haven't had a change of plans to continue to do that because sticking up with a particular habit for a long term is not an easy one when it comes to money.

This about a month you started collecting $3 daily from your mom's shop. From the look of things, the $3 per day($90 a month) you have invested in bitcoin so far has gained some profits for you in plans of achieving an aim of taking your mom to Hajj.

Sincerely, nobody knows whether the 2 months remaining to the Hajj, the($90×2) $180 to invest more in bitcoin will give you the desirable profits to match up with your expenses on Hajj ground

Having said that, I just hope bitcoin will skyrocket more so that your mom's plan of going to Hajj comes to fulfillment. Happy Hajj in advance to your mom and to all Muslim brethren

[mirakal]

From the information I got online, the Hajj of this year will be from 14th June to 19th June 2024, am I correct? I am asking because I am not a Muslim.

Since you have mapped out a strategy of saving up $3 every day from your mom's grocery shop to invest in bitcoin, I hope you haven't had a change of plans to continue to do that because sticking up with a particular habit for a long term is not an easy one when it comes to money.

This about a month you started collecting $3 daily from your mom's shop. From the look of things, the $3 per day($90 a month) you have invested in bitcoin so far has gained some profits for you in plans of achieving an aim of taking your mom to Hajj.

Sincerely, nobody knows whether the 2 months remaining to the Hajj, the($90×2) $180 to invest more in bitcoin will give you the desirable profits to match up with your expenses on Hajj ground

Having said that, I just hope bitcoin will skyrocket more so that your mom's plan of going to Hajj comes to fulfillment. Happy Hajj in advance to your mom and to all Muslim brethren

I guess OP is not actually thinking to make it realized this year since it was just a month ago since he started the plan. It could be that he is planning to invest about  a year or two, and through DCA, surely it will turn into reality as long as bitcoin price continues to rise. Patience and consistency in doing DCA is the key. And he should be more open that bitcoin is not all about reaching an all time high everytime, but there’s also major correction in the market that any time will happen and will head for a heavy price decline for bitcoin.

For now, even though the price is high, but I guess as long as bull run is not happening yet, then everyday will be a good buy. But the best will only happen when bearish market comes, as there is big opportunity to enter the market and purchase maximum amount of bitcoin at a cheap price.

[Casdinyard]

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.

Props to you for still looking out for your parents/mom even though you're already your own person. One of the great things Islam teach people.

In any case, I have high hopes that the three bucks you put to bitcoin everyday is going to be good enough to cover for the Hajj you guys are planning. Hell, even if it wasn't bitcoin and it was just plain old saving, that's 90 dollars at most per month that you're putting towards a noble cause, and in three years time that's more than 3000 bucks which, depending on where you live, could be just enough or more than plenty to set up that once in a lifetime trip. But you had to just make it even more awesome and show your skills in prudence by putting your money onto work with one of the safest and most reliable cryptocurrency assets on the market right now.

I believe that you'd get to it no matter what. The only thing that's really stopping you from getting this dream be realized is discipline, which is something that I know you would be able to continuously build provided that you keep at investing bitcoin on the daily. Just keep on doing what you're doing right now and I promise you, in no time, you're going to receive the reward that you and your mom so deserve. Pretty sure your dad's proud as well at you for being so good at looking after your mom. Remember that.

[Furious 7]

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.

That is something noble my friend because if you look at the calculations that occur for $3 every day means that for 1 month it becomes approximately $90 if indeed the total 1 month is 30 days and 1 year where we have 365 days x $3 = $1095 if we are consistent in doing so.

I don't know what country you are from but the cost of Hajj in my country for regular Hajj is around $6000 for the trip and that means if you look at the total average income of $1095 in a year that means it takes 6 years for the cost in my country.

I think for a period of 10 years it can still be done if you are really consistent with it because I am sure with your noble intentions then I think it can still be done and cheers to you friend because this requires a strong determination to be able to complete your mission to make your mother able to go to Hajj. I wish you and your mom good health and no problems until your goal is achieved.

[adpinbr]

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.

Yes this is really good idea to me if you can continue with that step, of course thousand of steps start from a mile, you investing $90 monthly is not a bad idea, but make sure it doesn’t affect your mother grocery  because of other expenses at the store and other personal expenses by your mother, I’m really in support of your decision but make sure it doesn’t affect your mother grocery store,And also don’t be greedy to look for more and investing more than what you have budgeted. By the end of the duration which you have calculated it will be a nice decision that you have made to you and your mother,I’m not a Muslim but it a good thing, Must people do the same but in a different reason. So it not a bad decision but try let it not effect your mother grocery store.

[bayu7adi]

a very noble dream, because as far as I know, Hajj is an obligation in the final religion of Islam and not everyone can go on Hajj because it is very expensive (for people with an average income). Your good intentions should be hastened because your mother is no longer young. If you need advice, maybe leaving as soon as possible before the age of 65 is better because the physical condition of older people weakens very easily. And you need to know that the Hajj is very difficult, therefore you need to be in prime physical condition so that the Hajj can be carried out smoothly.

If bitcoin is successful in helping you to uphold your religious values, make sure it comes from a halal funding source too. Don't mix money from gambling (if you often gamble at the casino) with anything related to religion. I know it can be done, but I feel like it's not very good. Spiritually, I slightly reject the interference of bad assets for good purposes.

The point is, $90 every month will obviously find its finish line, maybe in 3 years (if you're starting from zero now)... and if your mother's savings are big enough, maybe it can be sooner... Im sure...what you dreamed for your mother is true -really came true ASAP..

[Bananington]

I admire such good plans and the medium already identified to fulfil it. It's very clearly how your DCA strategy of investment is intended to be used and am sure after withdrawal to sponsor the Hajj, you would make some profit that can be diversified to help other projects or needs, also you might have just been able to learn how to be disciplined in keeping to the DCA plan and would even go as far as continuing the process to sponsor other dreams that may be achieved I'm the next few years.