Topic: As an undergraduate, is it advisable to invest my trustfund in Bitcoin? - page 3. (Read 582 times)

Let me ask you some question:

Have you researched Bitcoin?
Are you willing to wait for a long time for your investment?
Do you think you won't be shaken if the price of Bitcoin plummets?
Are you here because you think Bitcoin can make you rich in a short span of time?

If you have researched Bitcoin then I believe you know that Bitcoin is highly volatile. It can surge anytime and can plummet anytime.  Don't believe in people that say Bitcoin can make you rich with a small amount of investment.  This part of Bitcoin history had already passed and Bitcoin get-rich scheme is now just a story of the past.  You can still get profit but don't think that it can bring you 100x or more in a very short time.  You have to be very patient to achieve those but be aware that it might not happen.

If you are here because you think Bitcoin is a get-rich-quick scheme then you are wrong and I am afraid you will get disappointed.  Bitcoin investment is a marathon, not a sprint.

If after knowing that Bitcoin is not getting rich quick scheme and still you wanted to invest then it is best to set your selling price and stick with it.  Also learn about Bitcoin price cycles it will help you a lot in your future Bitcoin trades.

Introducing someone to Bitcoin with the idea that it guarantees immense wealth is both incorrect and highly misleading. I mean, yeah, Bitcoin can grow in value over time, but it's not a surefire way to instant riches.


It depends. Can you live without that money for the next 3-5 years? Bitcoin could be a good investment if you're thinking long term; it's not a get-rich-quick scheme. However, you also need to take into account that it's a risky investment. You must consider the possibility that things can go downhill, and you might end up losing your money (unlikely, but still possible). Are you prepared to accept that?

The information you heard about Bitcoin, that it makes people wealthy, is both right and wrong. Why is it right? It is because it as makes early investors who hold it for a long time wealthy by investing a certain amount of money, especially those that invested in bitcoin 12 or 13 years ago, and why will I also say that that is wrong? Because it is not a get-rich-quick scheme, before someone can become wealthy through bitcoin investment, they must invest a certain amount of money, be able to hold it for a long period of time, and be able to witness some bull runs, which may take some years before it occur.
 
Bitcoin has proven to be a great investment, so investing  in bitcoin in my opinion, is good, but I will advise you to invest the only amount of money you can afford to lose because, due to the nature of bitcoin's volatility, anything can happen to the price. The price can drop to any level, and at the same time, it can also increase to any level, depending on demand of Bitcoin in cryptocurrency industry. To be honest, nobody can tell what can happen in the future. So, I will advise you to do your own research before investing in bitcoin.

Be mindful of the risks as well. Have you ever traded before? If not, perhaps you should explore into it further. It's uncertain whether you'll be able to hold and wait for profits or if you'll become anxious when its value decreases. Evaluate yourself.

Don't get overly excited. It's fortunate that you stumbled upon this forum; you'll gain valuable knowledge here. I might even see you becoming more active soon. Best of luck!

If you have been saving the money for three years now, then I believe it's a huge amount of money. If the amount can buy you up to 1 Bitcoin, then you can perhaps just buy 0.5 Bitcoin instead. Then you can reserve the 50% to use for a DCA strategy, but only if you think that the price of Bitcoin is too high now and that it might likely drop. Also, if you think that you don't have any plans yet to use the money in the next 3 years, then you can invest about 80% in Bitcoin and hold for the upcoming bull market, which many people are speculating for a high price, and I think the price can still go high then. Before Investing in Bitcoin, make sure you are prepared to hold for the long term until you make your desired profit. Even if the market gets so volatile, don't sell at a loss.

Better late than never, means you might came to know about this forum now which is a good timing for you because currently market has a lot to provide but only the knowledgably ones could get benefit out of it. So, my only recommendation to you is:

1. Never decide or invest on the shoulders of others because at the end you will be disappointed.
2. Make your own decisions DYOR (Do your Own Research).
3. If people say Buy Bitcoin and become wealthy, Ask them or check for yourself how wealthy they are? you will then come to realize market not only provide opportunities for profits but also for losses too.
4. That's wrong --> BTC does not makes you healthy all the time.
5. I am also a undergraduate student, its my last year and i am into crypto from the first semester due to one of the friend as you are right now.
6. What i have learnt so far, is, always make your own decisions and never depend on others.

just so you know, investing in Bitcoin and earning profit from it can take a long time. aside from that, the price of Bitcoin can suddenly drop after you bought your BTC(and of course, vice versa) and it could take months before it returns to the initial price you bought your Bitcoin. As long as you do your own research, can afford to lose the money and you know the risk you are taking, then I think it wouldn't be such a bad idea to do. that being said, I wouldn't invest everything, it is always good to have fiat at your disposal.

I don't know if this is a problem, but people are introducing Bitcoin in a different way than what really is.
They are introducing it as it is more of an asset than a currency. I know that there are some like me who sees Bitcoin both as a currency, and as an asset, but at least introduce it in a different way as well like "Bitcoin can be used to buy certain things online blah blah blah."

I will be using myself as a proof on that part where your classmate said that you can learn on your own.

I didn't get any physical help from people around me. I did learn on my own with the help of this forum of course, documentaries in Youtube, constant watching of educational videos online, constant reading of different articles as well. I'm still not knowledgeable like others here, but I can say that at least I know the basics of it.

Now to answer your question, answer this first. Are you willing to take the risks if you go all-in on it? I mean are you ready if your portfolio is down double digits? Because there are some who sees their portfolio in red, and they are panicking, and selling at a loss. Well, if you're willing to take the risk, and you're knowledgeable enough already then you can do it. My advice though is that it seems like you're a newbie, so better learn first before investing. You might not be ready as of now, but if you continue learning, you will become a few weeks or months from now. Constant learning is the key. Go OP, and spend some free time learning, and Good Luck as well.

Don't listen to those who are telling you stories like that because days when you could invest few hundreds of dollars in bitcoin and get rich are long gone and it can be only make you invest more than you can lose.

Nevertheless, bitcoin is still a great investment f you have something money extra laying around, just don't expect to become a rich overnight.

If one of the reasons why you have been converting your money to bitcoin is because of inflation, you made the right decision. Keeping your savings in the bank is not a good idea because inflation will gradually make the money worthless. But if you think bitcoin will make you wealthy, that's not the total truth. No doubt many people became wealthy investing in bitcoin but they invested a large amount of money or have kept their bitcoin for a long time. I don't know how much is your savings but I don't think it can make you rich or make you wealthy overnight. But if you keep investing and holding for a long time and the price of bitcoin keep rising, you might hit your target.

Many young students don't consider savings, so you are exceptional. And the idea of investing in bitcoin is also encouraging. As much as you are investing according to your financial capacity, bitcoin is a good option. The forum is a good place to learn about bitcoin. If you hang around the forum and study, you will not lack information about almost every area of the bitcoin ecosystem.

That decision is something you would have to make on your own after doing all the necessary research and due diligence. Then you can decide whether or not, you want to get involved. In my opinion, you really can't go run with buying bitcoin since it's one of the few assets in the global market today that has consistently held its value even in trying times when you'd think it would break. I will end by saying that Lady luck often rewards the one who tries. Just do it.

Do not put all your hard-earned money in bitcoin just because your classmate tells you to do so. If you want to invest, then DYOR it and tell me right after if you are still determined to invest in a high risk asset like bitcoin.

Bitcoin is indeed a profitable investment, but the problem is it’s hard to tell when you will be making profits. That’s why it’s considered a long term investment because it takes years before you can see its significant profits. However, it’s your money, it’s your decision that will prevail. But as a suggestion, only invest what you can afford to lose. That should be the very basic rule when you decide to invest.

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The very first mistake you will make is getting into Bitcoin and cryptocurrency related trades with 'people's statement ' it's not a good idea you should hear and find out yourself... people's opinion can't be always right and can't be always wrong but you move with intuition after detailed study of the Bitcoin market trend while you're ready to bear the risk.
I'd ask you a question OP since you've decided to study about this Bitcoin so far what has been your understanding and would you be able to bear the risk of putting your 3 years savings into it even when you may not hit profit as soon as you think you can?
Bitcoin is good! Your choice is your choice! Sacrifices must be made and it starts with learning and die to volatility of Bitcoin you may also need patience. You can decide now if you want to invest all you've saved into Bitcoin.

One important question you should ask yourself is… Can I afford to lose this money? If yes then you can proceed to using it.

One thing you should take note of is that bitcoin is not a get rich quick scheme so don’t think once you invest your money with few weeks you’ll be able to make thousands or millions of dollars, that’s not how it works. Sometimes you might be required to go in for the long term investment to be able to earn a significant amount of money from it.

And since you said, you want to use your “savings” so it will be best for you to use part of it and not just dump everything into bitcoin, although investing in bitcoin is less risky than investing in other alt coins but you never can tell what’s going to happen tomorrow that might affect the price of bitcoin so it’s best to just have something at hand and then use the ones you know you won’t be needing anytime soon for your investment.

If you're planning on buying bitcoin in other to be a wealthy person, I'm sorry to say that you are in the wrong place, deposit your trust fund into any bank of your choice and enjoy the ridiculous interest rate they give annually. Bitcoin is not a quick to riches, your friends didn't tell you the good concept of bitcoin, they are making you to invest in bitcoin which is a good idea but doing it for the wealth, that is very wrong. Bitcoin can give you rich but doing so with the intention of becoming a wealthy person will disappoint you, thomgs could go the opposite of what you have in mind and trust me, you will be disappointed and the perception you have about bitcoin will change. So, invest wisely with the intention of a long-term mindset.

Not everything that is said is true and not wrong, you need to underline, Bitcoin is not a get rich quick investment, there is volatility that occurs every second, minute to hour. You are new to Bitcoin from other people's mouths need further digestion about Bitcoin after you join this forum. Never be tempted by something that can provide profit without studying it first, because behind the profit offered there is a big risk stored.

You are very lucky to be here, take advantage of every spare moment you have to learn how to invest properly. You also need to learn where to store assets to keep your assets safe, first learn the basic knowledge that can help you understand how to invest in Bitcoin. You can invest in stages as a first step in investing in Bitcoin, when you feel ready with a strong mentality, you can save bigger money in the form of Bitcoin.

Since you're an undergraduate student, it's mean you don't have a lot money. Investing in Bitcoin surely will make double or triple of your initial investment during bull season, but if you just invest small amount of money, the profit you earn will not that much.

It's correct invest in Bitcoin can become really wealthy, if you invest before 2017.

I don't like it when someone introduced to Bitcoin as if it's a rich quick scheme. It wasn't introduced to me like that and it's more like a cyber thing and deep web shit when people talked about it.

I guess things have changed these days and the common thing that we'll understand about bitcoin is that it's a store of value and in short, an investment.

As a student, you need to weigh things and think of your priorities first. If you've got some spare money to invest then go. But make sure that it's not affecting your studies and tuitions.

A lot of it depends on a lot of factors.

You can't become wealthy by investing just a few dollars. You need to keep buying and dollar cost average.
You can't become wealthy if you don't know when to buy and when to sell.
You need to understand market conditions and you should have patience.
We can never predict the price of bitcoin and you need to hold strong in worse conditions and wait for the price to recover.
Don't blindly follow what others say because you need to believe in bitcoin and so you should learn more about it.
Keep learning more everyday and then you will know whether you can become wealthy with bitcoin or not.

If you’re having that mindset that BTC is something that could get you rich quick, it’s better to just save your money in your trust fund. For me, I think you are not yet ready to get into Bitcoin.

You need to dig deep and research first about Bitcoin before you dive in. Also do not go all-in and only spend an extra amount that you can afford to lose if you are ready to dive into Bitcoin.

BTC does not offer guarantees or promises in terms of profits due to its unpredictable up and down movement.