As an undergraduate, is it advisable to invest my trustfund in Bitcoin?

Stable090

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out here. That's how I ended up finding this forum.

Your classmate said the truth, there are many things you need to learn if you want to be successful in the crypto space. There are many things you will go through before getting what you want, such as technical knowledge, how to secure your private key, and any other things that are necessary. However, if you are serious and ready to learn, you can still meet with your friend to learn more about bitcoin and other crypto currencies. Since you show that he has knowledge about what you intend to learn and that even on the forum you still need someone to guide you through, you can see that having your friend by your side will make it easier for you.

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So here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Yeah, investing in bitcoin is a very good investment that, if you are ready to take the risk, you will definitely make. However, understand that this is not a get-rich-quick scheme, and that is what makes some people on the forum forget that you are at the right place to learn about bitcoin. You still need to put in more effort to get what you want.

NOTE Invest the amount of money you can afford to lose.

Smartvirus

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

I'll stress on it, it's important to know that this accumulated funds over the course of 3 years isn't the trust fund itself but, the much you've gathered through conscious awareness and adjustments to save up. That's a good thing you've archived and for one that could put something out for that long a time, you could as well find luck with hodling bitcoin.

Just a fee clarifications though;
Bitcoin/cryptocurrency ain't a thing but, a commodity on the Web and exists on blockchains.
It's also worthy of note that, cryptocurrency is bitcoin and bitcoin is cryptocurrency (they both go together).

Now, cryptocurrency isn't a get rich quick scheme although, that is possible but, it could as well reduce your account or portfolio to a point zero. Sink that in and be aware it isn't all rossy but, the sad stories are not happily shared.

Buying and hodling on a long term base might aid you in your journey but, be sure to hodl on a non custodial wallet and learn the pros and cons to maintaining privacy or security of your hodlings.

Renampun

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

The first thing you should know in detail about what bitcoin is and also its history so that when you invest your money in bitcoin, you are not surprised when the price of bitcoin drops suddenly and sells losses because there are many novice investors who lose big when the price of bitcoin drops even though if I they are able to survive then there will be no losses they get. especially if you are still a student and usually students need a lot of money for studies, just do it slowly, read first about the risks and benefits of investing in bitcoin.

boyptc

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With wrong approach, you can't just be rich with anything.

Bitcoin has always been filled with those opinions that if someone owns it, they're technically rich at all. But no, everyone who wants to invest in Bitcoin is from all walks of life and you'll never know if they're rich or not.

Speaking from yourself, if you invest on Bitcoin and you get to see that it's not the result that you've expected to show then that means it has failed you.

People that are here have major plans on how long they're going to be in or there's actual no exit on it. It's for the long term plan and you're still early on it to consider it.

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Since you are young and educated, you should be able to learn how Bitcoin and crypto works, if so then Bitcoin and crypto should be a good option, but you should do your own research. And even if you finally decide to put some money on crypto and bitcoin, don't put all your money on those two only, split it to other investment also. Spare some money to learn new skill and build a business that you like, those also are good investment.

hd49728

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Quote from: letteredhub on August 16, 2023, 10:25:44 AM

Feel free to check on this:

LEARN ME A BITCOIN

Mastering Bitcoin

Those resources are more technical and if you are investor, you don't actually need to learn about them. It is good to learn technically but it is not must-learn knowledge for investors. If you are more technical knowledgeable, you will have more foundation for your belief in Bitcoin and it is so good but it's not mandatory.

Bitcoin information and resources from Jameson Lopp is another good resource.

letteredhub

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

Here we go again! Another wrong misinformation about how bitcoin works. My friend your classmate or whoever told you that by buying bitcoin you're gonna be rich is nothing falling short of a misinformation, bitcoin isn't a get rich quick money-making-machine so if you get in with such mentality you will only crash along the way after couples of disappointment.

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I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Good a time you ended up finding yourself in bitcointalk community and it's an opportunity for you to learn about how bitcoin really function therefore unlearning yourself those misinformation you were giving about getting rich immediately you invest in bitcoin. Investing in bitcoin you need to give your investment time and with series of follow up. Knowledge is a key factor in bitcoin investment without which you are bound for a loss.

Feel free to check on this:

LEARN ME A BITCOIN

Mastering Bitcoin

Rockstarguy

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Quote from: Russlenat on August 12, 2023, 05:33:32 PM

To be honest, even if you’re a graduate, it’s not advisable to invest all your trust fund into bitcoin. Bitcoin is a high risk asset, so the more you invest, the riskier it will be. However, investing into bitcoin just a little amount of your trust fund is not that bad, as long as you also don’t matter if even you lose on that. Remember, bitcoin no matter how profitable it is, that will never guarantee secured profits, and if ever you’ll be in profits, the time will also be indefinite so never invest if you are not ready to lose.

I think before one must choose to invest in bitcoin their must be need to generate a source of income that will be be bringing money constantly because even if OP choose to invest little amount from the Money he has , he is not still financially stable because their is no steady source of income in which money comes in. Starting investment in bitcoin is not about saving a huge amount of money to begin but is to have a stable source of income which one will need to invest with the amount that is affordable to lose. If one have a good savings and decides to invest bitcoin with part of it, as their is no source in which money flows in their might be an urge to temper with the investment when their will be needs to solve financial problems.

Vaculin

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Winding down.

Know your investment first. Bitcoin is not like any other type of investment that you can easily engage as long as you have sufficient capital. You need to do a lot of research first so you will know how to invest it at your own advantage, and how to avoid investing in it at a loss. At the end of the day, your money, your decision rules. But at least you know that you won’t be investing and expect real quick profits. Bitcoin is a long term investment, so learn to wait before you can see significant profits. And lastly, always invest at a small amount most particularly for beginners like you.

Finestream

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You know, bitcoin investment is highly overrated. You cannot just easily invest just because it’s a profitable one, but you should only invest only if you know and understand its risks and potentials. However, I cannot tell you not to invest but only invest at your own risk. Do not spend all your trust fund but take a small portion of it you can easily afford to lose.

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Quote from: YOSHIE on August 12, 2023, 09:24:31 AM

Quote from: Macoach on August 10, 2023, 06:30:07 AM

So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

we have often seen and read about students learning to understand how to trade, invest in Bitcoin, maybe there are hundreds of experiences on the internet that are scattered about student life and Bitcoin.

For me it's not bad if you want to invest in Bitcoin with the money you have right now, maybe you can read a little about How can a student invest in bitcoins?, for you to understand the risks and other things before you invest in Bitcoin.

I'm sure that friend of yours, telling you about Bitcoin, must have done it before, sure if you really want to do it, anyway, stick to your friend's guide, if he understands where it's good when buying and where it's good when selling it.

If you really want to invest in bitcoin, then do your intensive research. Do not just invest just because your friends are profiting from it, but invest because you believe in its high potentials that will bring you future profits. Well, the fact that it’s your own trust fund, then the final decision is all yours. But as a co-investor too, my suggestion is to never put all your trust fund only in bitcoin. Learn to diversify your investment. You may want to invest in stock market as well aside from bitcoin, but never risk an amount that you can’t afford to lose.

zaim7413

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The first step you have to take is to find out the ins and outs associated with Bitcoin including the potential profit and loss. It takes extensive knowledge to convince yourself to use something new in your life, learning to be the only way to make decisions before you decide invest in Bitcoin.
Bitcoin is not a get-rich-quick scheme, if your friend only explains to you about the profit you can get, then he also needs to explain to you about the risks that can occur. Luckily you found the Bitcointalk forum, before you start your first investment in Bitcoin, you need to find out all the important knowledge related to Bitcoin.

Synchronice

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Everyone can easily write yes or not because no one is responsible for your profits or loss, you are the only one who carries the responsibility and will feel the result.
The only legit advice that I can give you if you decide to buy it is to do the research before every action. You have to keep in mind that you shouldn't trust every exchange and you also shouldn't save your money on exchange. Just use the legit exchanges to buy your coins, like Binance and Coinbase or if you plan to go more advanced and anonymous, you can use Bisq but that's not for unexperienced users. Also, always check the website that you visit and be sure that you visit a legit url.
Since you can't store your coins on exchange, you need to buy a hardware wallet or download a software wallet like Bitcoin Core or Electrum on secured computer. If you plan to hold long-term, then you should use Cold Storage, i.e. you should buy an airgapped hardware wallet like Coldcard or The Passport Foundation and/or use an airgapped computer.
Please, just spend your time to learn about how to store it safely, otherwise you may lose your coins and your savings. It worth to spend days and weeks into studying how to save them safely rather than to sorry later. Don't hurry!

Rabata

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

If long term saving money will not help someone then there is no use of saving money. This is because at the current rate of inflation in the world, it is almost impossible for low-income people to "do anything with long-term savings." That is why everyone should do something that has the potential to increase his money. Thinking in this way Bitcoin can be a good investment and savings medium. But its volatility and potential must be considered. An investor must acquire good knowledge about this before investing. Don't invest in Bitcoin only on the advice of a friend or someone. Even though it is a good and suitable platform for investment.

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Quote from: Abu-Naim on August 12, 2023, 06:11:17 PM

But what if I have the fundamental understanding of bitcoin that I need, but I choose not to invest the money? After all, if I don't invest the money, I can wind up squandering it needlessly. I'm hoping investing in bitcoin is a better option than letting the money disappear unutilized...

Even if you don't have basic knowledge about bitcoin, you are free to make your own decisions and invest where you think you will get a bigger profit. This is your money and you decide how to use it. As for the OP, he must make an independent informed decision, taking into account all the risks of such an investment.

Abu-Naim

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Quote from: Russlenat on August 12, 2023, 05:33:32 PM

To be honest, even if you’re a graduate, it’s not advisable to invest all your trust fund into bitcoin. Bitcoin is a high risk asset, so the more you invest, the riskier it will be. However, investing into bitcoin just a little amount of your trust fund is not that bad, as long as you also don’t matter if even you lose on that. Remember, bitcoin no matter how profitable it is, that will never guarantee secured profits, and if ever you’ll be in profits, the time will also be indefinite so never invest if you are not ready to lose.

But what if I have the fundamental understanding of bitcoin that I need, but I choose not to invest the money? After all, if I don't invest the money, I can wind up squandering it needlessly. I'm hoping investing in bitcoin is a better option than letting the money disappear unutilized.

I don't believe bitcoin is more dangerous than other marketable crypto coins, despite what many bitcoin experts have said here. I believe investing in bitcoin is risk-free and secure. Perhaps it's because I believe in bitcoin.

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Quote from: tvplus006 on August 10, 2023, 04:18:20 PM

Quote from: Macoach on August 10, 2023, 06:30:07 AM

...So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

It is very difficult to give advice that is related to finances and can lead to a complete loss. You should understand that investing in bitcoin does not mean guaranteed profit. For example, after 3 years, its price may be lower than the current one. But you should not focus exclusively on this option, everything can be the opposite and the cost of bitcoin will increase several times. But you have to make the final decision yourself, as your financial future may depend on it.

I cannot decide also on other person’s finances because I don’t want to take the blame whatever the result in the future. But here’s a piece of advice, study first whatever investment you desire to invest, and when you’re knowledgeable enough, decide on yourself whether it’s good or bad to invest your hard-earned trust fund. That way, you will be responsible whatever the result of your own action and decision.

Russlenat

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To be honest, even if you’re a graduate, it’s not advisable to invest all your trust fund into bitcoin. Bitcoin is a high risk asset, so the more you invest, the riskier it will be. However, investing into bitcoin just a little amount of your trust fund is not that bad, as long as you also don’t matter if even you lose on that. Remember, bitcoin no matter how profitable it is, that will never guarantee secured profits, and if ever you’ll be in profits, the time will also be indefinite so never invest if you are not ready to lose.

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Quote from: Macoach on August 10, 2023, 06:30:07 AM

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Your friend is not totally right about Bitcoin, first you need to understand that Bitcoin is not a get rich overnight investment and secondly these forum doesn't advise anyone a particular coin to invest but instead it helps with all the knowledge you need to have about crypto, so as someone that was brought newly into crypto the first thing you most do is to learn the basic things and investment risk, in times of investment one thing is investing another thing is how well can you handle the risk of losing your money, is always advisable to invest what cannot affect you when the market turn against you.

So for me I cannot advise you to invest now instead I will suggest you go for more knowledge about Bitcoin before going into it, here in this forum you can learn all that you need to learn about Bitcoin if your willing to learn.

isaac_clarke22

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Quote from: Sanitough on August 11, 2023, 05:42:06 PM

Investing is an effective way to build your wealth but never cross the line by putting all your hard-earned savings into bitcoin. You are just increasing its risk, and if by chance you mismanage your investment, your trust fund will vanish like a thin air. My suggestion is, invest at your own risk. Invest at a small amount first and when you see chances of growth, then start increasing the size of your investment.

Well I don't think it will vanish like a thin air when we're talking about Bitcoin since it could either be just bearish season where the OP would need the money the most. It's just that you wouldn't want to end up needing that amount whenever the unexpected happens. Once you threw that money in the bag, it's definitely locked in for couple of years.

Just imagine being in a situation where you might need to pay the medical bills but because BTC is in its bearish mood, you can't get back your money to how it was and not even at the breakeven point since it was now below of what you initially invested it at.

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