Topic: Bold step to invest my fiat in Bitcoin (Read 822 times)

Congratulations OP, good luck with your first investment in the bitcoin world. I believe this bitcoin investment of yours will surely last long, and you can profit from bitcoin. But you have to be patient Bitcoin price has a lot of volatility you have to be a resistance. You will never profit by saving or holding fiat, it will never bring you profit, but if you start trading in Bitcoin with that saved money, it will be profitable. Although you should not be afraid of the fact that the price of Bitcoin goes down a lot and then goes up quickly, you need to be aware and understand the volatility of the market. And if you don't know about trading then don't trade, it is sure that you can face loss. But if you gain good knowledge and know about trading, then you can trade. You must make this bitcoin journey long-term, only long-term holders benefit.

Firstly, I did not say that the risks are the same. Real estate itself contains many different risks, there is a property that can only bring losses, if it is in a bad area and you cannot rent it out, it will definitely fall in value. And there is real estate that you can buy at the construction stage and sell when the facility is put into operation. There are a lot of options for investing in real estate, and it depends only on you whether you can earn in this direction, or lose money. It’s the same with bitcoin, there are those who will earn, but there are also those who will lose money when they sell at a loss.

Diversification is a must for every investment because nothing is completely safe, not even real estate. But what I want to tell you here is that I disagree when you say that the risks of investing in bitcoin and real estate are the same. Profits are different, so the risk cannot be the same, the higher the return, the higher the risk, that is the immutable law for everything in this world. It would be unfair to assume that the risk is the same but the return that bitcoin brings will be higher.

Acceptance of risk enables you to take the reward if a person becomes frightened of risk then achievement become impossible for him so accept every situation and tolerate them with your patience, knowledge and experience.

One thing can overcome your loss if you don't act according to greed but accept what is better for you because in desires of more a person loss their own money and then set with regret for their incorrect settlement.

These are very smart suggestions. I strongly believe in cryptos but we always need to take into considerations that there are long bear markets and things don't always go as we hope they do, so I would never recommend to anybody to go all-in with cryptos. Buy also some ETFs, or even real estate if you can afford it. Maybe in 30 years we'll regret the fact that we should have invested more in cryptos but who knows, I prefer to be able to sleep at night now, not in 30 years.

Don't put all your eggs in one basket; that is a really great strategy, not just for calculating the risk but also for making your investment safe in case one of them fails. No, not all people are the same as you since people always want to do all in and not think about it as they just want to gain more profit even though they know that they can't lose it all.

I thought that was a normal thing to do for you to save more money and also at investing. I always do the 50 30 20 where I applied it in investing so when I invest in the main thing I want to invest which is Bitcoin probably it would be the 50% and the rest are some other investment such as altcoins. Having an alternative investment is a must so you have other choices for you to have a backup money incase. And don't invest all your money or funds in one basket because once you lose it, then there's no refund. You could start small which you can be consistent rather than risking it all in one go.

Everyone who joins here is still in the process of learning based on their level of knowledge, being among those who already have some knowledge of Bitcoin will help increase your knowledge of Bitcoin. I am happy to hear that you have got your first Bitcoin, your bold move to do something new is very appropriate, Bitcoin will benefit you if you know how to manage it well.

Keep in mind, Bitcoin does not only offer advantages and convenience in making transactions on a large or small scale, there are risks that you need to avoid to keep Bitcoin safe. Fluctuating Bitcoin prices require you to put forward patience when market conditions are uncertain, save your Bitcoins until the bullish period returns to dominate the market.

Couldn't have said it any better. This is what I do with my own finance. I divide everything according to the risk and how much possible profit I will get based on their own timeline. This way I know I will be able to still have money even if one investment doesn't work. This is a good planning and financing strategy. You just have to be smart in knowing and assessing which investment should you prioritize and which one you should avoid.

No two investments are the same to be compared, especially something as different as Bitcoin and real estate. Even the stock market, which is quite similar to cryptocurrencies, is completely different. Even though real estate is deemed a safe investment, due to the increasing demand for housing, whether for short-term or long-term leasing, it requires a large amount of capital that the majority of us can't afford. Thus, resorting to taking a loan is not only increasing the risk but also putting you in debt, which is dragging your investment many years behind.

Bitcoin, on the other hand, has shown great returns, especially in its early days, which is the main reason why investors keep saying that Bitcoin provides better returns than any other investment. This claim is relatively false, and I'm saying relatively because the returns differ a lot depending on the time period you invested. For instance, if you bought Bitcoin right before Elon Musk did, you'd purchase it at a price X, which was massively smaller than the price after Elon's purchase, leading to huge returns.

The point of this thread is to congratulate the OP on his first purchase, and I wish him well in pursuing his goals in the cryptocurrency industry, with the DCA technique being his best option now. There's no point in comparing Bitcoin with crap pump-and-dump coins, real estate, or stocks. Everyone has a different opinion and that's totally fine.

Nobody tells you to buy bitcoin with all the money you have, diversification is something that can help you avoid a lot of trouble. Divide your money into several parts according to the risks that each of the investments contains and invest in several different directions. If something happens to one of them, then you will have others and will make a profit.

An asset that can generate profits also has certain risks, nothing is completely safe or will be risk-free. Everything is proportional, low risk is low return, and higher risk is higher return. In real estate investing, choosing the wrong partner is like investing in bitcoin but choosing the wrong wallet to hold it, and that's your fault and you create your own risk, not bitcoin's.

Although many people think bitcoin is safe because it allows us to have full control over our assets, as I said, bitcoin has never been safe due to its volatility, popularity and acceptance...all are not enough to confirm bitcoin is a safe asset like gold or real estate. But the higher the risk, the higher the return, the opportunity is always hidden in the risk, so those who are willing to take the risk will always receive a more worthy reward.

You know, I was wondering what part of the world you might hail from to have been surrounded by so many bitcoin accepting merchants as chanted in the OP and that drove me towards viewing your uploaded image in OP to see which country currency notation comes up and you can imagine how surprised I was to have seen the Nigerian Naira sign pop right up!

Well, Nigeria is a very big nation both by land mass and population so I can’t say for sure what part that is so pro bitcoin or pro cryptocurrency to have bitcoin merchants lying all around but, am yet to meet one and experiment. Still, it is nice that you by some means arrived here and have taken a bold move to buy some coins to hodl, I hope you don’t get to be demotivated and understand that it’s not always going to be about gains.

Congratulations and welcome to the world of Bitcoin!

I hope that you will believe me when I say that the price volatility of Bitcoin can sometimes be overwhelming. The way to hodl is not to trade back and forth between Bitcoin and Fiat money. The price bounces back just as fast as it dropped, so in the case that you are not familiar with trading strategies and trading analysis, you do not want to start guessing when up and down will be.

Those who have held on to their coin have gained the most.

It is indeed if investors happen to invest at a cheaper price of the cycle.  but if the investors invest on the peak, I do not know if we can consider Bitcoin to have a bigger return than traditional investment.  Right now those who invested at the peak of 2021 have a negative balance of more than 50%, I think it is also a bigger lose than the traditional investment in terms of the time frame.

Bitcoin is best for those who have the patience and fund to withstand financial pressure and able to not use their Bitcoin investment to meet the needs.  Although Bitcoin had proven historically that it always break its ATH every cycle, we should also think about the possibility of the ATH breaking not happening in this cycle or the next one.

Speaking about returns then it would really be basically be able to overtake to those traditional investments or stocks or whatever that we do know in terms of annual growth but we know that in every investment or market there's always an accompanied risks on which it would really be never be new about those possibilities on having that negative or floating losses on which this is something that you would really be able to face which it is really that normal here on this space. Investing your fiat on Bitcoin? Yes its ideal but dont make yourself that having that kind of confidence on which you would really be having that kind of assurance on getting that success or profits in the future. Its a matter of personal choice because not all would really be that risks takers when it comes to
this kind of investment. Some would be skeptical but some would really be that risks takers. Always invest on the amount which you can afford to lose because on cryptospace there's no such
thing about assurance but in speaking about potential then we dont really have no doubt on this but everything could really suddenly change basing up on the demand and recognition of course.

Congrats on your first bitcoin purchase! Glad that you have a pretty cool community that set you up for bitcoin and helped you figure out what it does and how it works. That's more than what most of us had here lol. Anywho you might want to look into other ways you can invest your bitcoin into like trading, diversifying your portfolio and all that since bitcoin will not always be in the green and there will be instances where it would dump your wealth's value. So might as well ready yourself for the rainy days and diversify your assets so you're not left with a huge dent in the wallet when bear markets come in. But you can do this at your own pace too, conduct some research first and then only jump in if you're feeling confident already.

I believe the same bitter feeling you had back then will repeat itself for potential investors of our present moment once Bitcoin enters a new bullish season and price reaches to a new stability level, above the currently one. Bitcoin may look really expensive at 29,000$ right now, but nothing compared to the price range ir can hit on the next 2 years. It makes me conclude OP is totally accurate in purchasing BTC now and preparing his portfolio for the coming future. He just need to pay attention on how he is storing his coins, if they are safely held in a hardware wallet and if keys are safely stored as well with himself and nobody else.

Well, congratulation on your first buy, I mean this is already a good start so that you could start to accumulate Bitcoin, to be honest, this is already a good amount to start, It wasn't really about how much you bought since you could collect more in the future, most of the investors are going to recommend dollar cost average or maybe you could modify it a little bit so that it would fit your liking. What i recommend is to have a budget probably if you have a job you could have a small amount on your salary and use it to buy Bitcoin every month, It wouldn't matter how much amount of bitcoin but the important thing is you bought every payday something like that, in the coming months for sure you could accumulate a lot and for sure it is going to be a huge profit if you could Hold until the Bullrun comes.

Also, you already have this forum bitcoin talk probably the best cryptocurrency forum that could help you on your cryptocurrency journey, there are a lot of useful topics here that could help you, you could just ask anything here on your issues and tips, as well as you could share your experience, just make sure to like from other members mistake to avoid losing money. Goodluck Mate!

If I only understood Bitcoin last 2014, I could have put my extra money for buying sats instead of a full 1 BTC. I thought back then that it must be 1 BTC but I was not educated about buying in fractions which are satoshis.

That time Bitcoin was just below $600. When I came back in mid-2017, BTC's price was at $10k+ and I had nothing but regrets.

It's good that you have bought some small amount in sats, but make sure that you fully acknowledge the risks.