I will invest in bitcoin for my child's cost when they grow up. - page 2.

cr1776

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

It sounds like a reasonable plan. Do not keep the coins on any exchange though, preferably use some type of cold storage since computers can be compromised also. It certainly sounds like you have the right time frame, not days, weeks, or months, but years. Depending on what country you are located and the potential amount of value involved later, remember to consider that some places will impose gift taxes to larger amounts so gifting now vs gifting later (post-appreciation) could be smart.

Adbitco

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I believe as you said of taking the risk so, whatever investment you are making should be on your targeted year and period of time. Then next is to look into the kind of wallet you should use because from your narratives, this may be investment of 10 to 20 years to come and security is the most important aspect of your investment. Without adequately securing and safeguarding your investment I doubt if you could be able to hold till the expected time. In this type of investment, you should also let known your partner or relatives for future purposes, imo.

tjtonmoy

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I want to know your opinion?

Bitcoin investment involves a high degree of risk, as the price can be highly volatile from time to time. You should carefully consider your investment goals, risk tolerance, and financial situation before investing in Bitcoin. It is also important to do thorough research before making any investment decisions. If you are able to gather all the knowledge and are able to work as planned, then you can provide a bright future for your child. HODL is what we see in many people, and I'm also one of them. But in situation like this, for instance, in bear market you should learn to DCA. And what i can see is this is a great future plan.

Broadanbig

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

It is absolutely good such a decision. You must understand that the bitcoin market is volatile so invariably, it means that you will be buying bitcoin in fractions and holding them for a long time. Buying them in fraction and with spare care which you can afford to loose is the best option but however, I know you will not loose them because bitcoin will do much better in price value in time to come so it is good you are in the right investment track. You have already secured and insured the future of your kids by purchasing bitcoin for them and their future expenses are definitely covered with them protected from unforseen financial challenges in time to come.
Congratulations to you!
Congratulations to you kids!
Congratulations to your family!

I like what you did and I think I would take same step as you did although I am yet to get married but I will set same standard at follow it gradually.

Leviathan.007

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

That is a very good move and this will definitely help your child in the future if everything goes well, but you should understand that even if you do that for the long term you are taking a risk and this risk always will affect your child and her future so I suggest you to invest wisely and be very careful about how you are holding the bitcoins. Because from what we saw so far bitcoin is very good for investment in the long term but you cannot be sure what's going to happen in a few years so I suggest you invest in multiple assets to lower your risk.

Sakanwa

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It's a good and I wonderful idea to invest for the future of you child. Well making such decisions for your child is a kind of try to securing a what does really belong to you,I say that because haven't know the risky that you about kill in to,it obviously you need to take proper care of you wallet making sure it well secure from been harked.i pray may this price of yours that you about pay will bring profit and you making a good harvest.

Queentoshi

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Quote from: Pandorak link=topic=5437318.msg61680189#msg61680189

That is a good plan. As we know that fiat has greater inflation than bitcoin itself, of course, when you invest in bitcoin, you will maintain a store of value from the assets you own. by the way, the halving of the bitcoin network will be happened by early next year (Q1 probably), so it would be a good opportunity for you if you invest in bitcoin asap.

To me that's a very good idea, bitcoin is a thing for the future, and let's say in the next 4-5 years is going to be in another level, even me right now am thinking of doing the same thing, you just gave me an idea, instead of opening a bank account for them I will rather invest in bitcoin for them, but one thing to be cautions of is the wallet, I will make sure to use a trusted wallet to avoid loss of my investment. This is a good point, and I will advise people to make this move rather to open a bank account for their children.

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

I don't think people who brought bitcoin during 2009 and hold it till 2021. There were a biggest pump during 2017-2018, So I don't think they could control theirself and hold the bicoin without selling

except they forget that they had some fund in other wallet. Or the it’s too much rare who keep holding till 2021.

Btw it’s a good idea you want to invest in bitcoin. But make sure that you have already enough for your living cost for atleast a few years. And only invest the amount you afford to lose. Anytime anything bad can happen in crypto so keep prepared Your self to control yourself that time.

HajiBagi

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Investing in bitcoin for your children is not a bad idea at all because, with the way the world is going now, bitcoin will be a good investment in the future for many people to have the opportunity and believe to invest, and in other ways you also have educate your children by knowing that bitcoin is a good investment, although bitcoin has a negative side effect, which is the loss when it crashes, but I believe that by then, before your children grow up, bitcoin will be a wonderful and successful investment.

Mpamaegbu

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

If the risk you're referring to here is about Bitcoin dumping, you should rest your mind. Yes of course Bitcoin will dump from time to time but that isn't something anyone who's into long term investment should be worried of. The risk for me for your kind of investment will be in the likelihood of you losing access to the wallet you will save the Bitcoin for your child through your own carelessness that will lead to either loss of password/PKey or wallet hack by a foreign body. Other than that, go ahead and invest in the future of your child. Bitcoin is a veritable investment.

Awan putih yang cantik

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indeed many people have invested in bitcoin for the long term, and they get big profits.

but you also have to be careful because you might experience a loss. but if your investment is in bitcoin in my opinion the risk will not be too high.

so I think your decision to invest in bitcoin for the long term is the right decision,
especially if you say you are ready to take the risk.

Rx009

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Quote from: Maus0728 on January 30, 2023, 08:46:24 AM

Not pretty sure what your question is so I suggest you read [1] https://cryptosec.info/ given you have decided to invest your money in bitcoin for the long haul. Remember that maintaining your financial security and handling it responsibly should and always be your utmost priority.

Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

While I know that these are the common scenarios from before and could perhaps happen in the future, but still, be wary that there is still a chance that bitcoin would not go up in price. I mean we can't certainly know if bitcoin will reach a hundred thousand valuation in the next decade, or in the next 20 years.

I am not saying that it isn't safe but you have other options to diversify your money other than bitcoin. More importantly, invest what you cannot afford to lose.

thanks for providing the link for me to read, and i have read it, and the wallet i think is safe is a hardware wallet.

and i invest in bitcoin using idle money, so even if i have loss in my investment in btc, i am ready to bear the risk.

YOSHIE

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

This is a good point, for someone who wants to jump into the world of Bitcoin investment, if you are ready to take the risk do it, obviously you have to be able to deal with anything that will happen at any time in the crypto market.

In life in this world, most of what I see someone who can become successful and billionaires is caused by their desire to invest, regardless of where they do it, Bitcoin, gold, stocks, businesses and so on, the main goal is to make a real profit for some of the money they invest.

On the internet, maybe we often see someone investing in their child or family in the future, including for a certain period of time, maybe you can learn from this family: This family bet everything on bitcoin when it was $900 – and bought more when it crashed in 2018, the way they invest in Bitcoin.

Crypt0Gore

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There is nothing wrong with this plan but how sure are you that you will be alive that long to see your kids get married or something? I dont wish you bad but if you want the best for your kids you should teach them about crypto while you are still alive, what is the use of buying Bitcoin and when you are not here anymore they can't even sell.

I think a better plan is to teach your woman first, just in case, you may not be around while your kids are still very small, teach a trusted adult like your wife, and when you live to see your kids grow you can teach them later.

Whatever plans you have always think about when death comes knocking, no one lives forever and no one know when their time will be up.

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

I don't see anything wrong with it. There are some things that you might wanna consider.
Since you already said that you are aware of the risk of it, I guess you're good to go.

As long as you will not lose your private keys that holds that Bitcoin or if you will not lose your hardware wallet in the span of probably 1-2 decades then I think there's nothing wrong about it. With this, you believe that Bitcoin will rise in value in the next 5-10 years.

As for me, I already allocated a specific amount of Bitcoin that will be intended for my future child (I still don't have a child currently, but the earlier the better:)). Anyway, my opinion or suggestion for you is that, maybe you might wanna try to diversify into different assets like in dividend stocks if you are just doing it for your child. After all, the dividends that you can get into those stocks will help you in either your expenses or in your investment if you wanna re-invest it.

elevates

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

First, concentrate on your child and his/her expenses. Bitcoin investment is not a big deal at the moment as it can happen after some years. Invest whenever you have less liability in your life in Bitcoin. Please understand you only need to invest what you can afford. At moment you cannot! Please focus on your child first and later think about Bitcoin.

Quote from: Rx009 on January 30, 2023, 06:17:12 AM

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

Buy Bitcoin if you can afford to lose your money in the sense that the price is very volatile. If you are in an emergency situation then the buying price as in when you bought would not be the selling price you expected. This is a global market and you have to be patient if you intend to buy Bitcoin. Some of us have been holding our patience for a few years now.

tvplus006

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

...so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin...

It's good that you understand all the risks of investing in cryptocurrencies and that instead of financially supporting your children in the future, you may be left without money. Nevertheless, you have made a good decision to invest in bitcoin, especially since the price is not high right now. I think it would be optimal for you to make BTC purchases 1 time per month.

Smack That Ace

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Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I want to know your opinion?

You are aware of the risks of investing in bitcoin, and you are willing to accept it, there is no reason to stop this plan, it will be a great plan. If we compare bitcoin savings with fiat savings, it is clear that bitcoin is more profitable.

But I still want to remind you investing in bitcoin is very risky, and this is the money that you will save for your child, which means your child's future depends on the growth of bitcoin. Make sure that later, if this investment fails, you still have another good plan for your child.

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Quote from: Rx009 on January 30, 2023, 08:24:55 AM

for the advice and support to me I thank everyone,, and thank you also to everyone who reminded me to put my bitcoins in a safe place like , hardware wallet.

Its a great idea seems it will be like a savings funds that can get higher returns in the future, Make sure to keep it safe where only you or your wife can access it, while it is safe that it will only you who knows it, there are events we can’t control and it’s better to have someone know where to find or use it. And still keep on monitoring the price whenever you buy. Alongside of holding bitcoin also try to have atleast a small portion for a emergency fund or educational fund for your child so if ever the price of bitcoin still isn’t that high at times you will need it, there is still a fund a alloted for his school or emergencies that needed a money readily.

Maus0728

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Not pretty sure what your question is so I suggest you read [1] https://cryptosec.info/ given you have decided to invest your money in bitcoin for the long haul. Remember that maintaining your financial security and handling it responsibly should and always be your utmost priority.

Quote from: Rx009 on January 30, 2023, 06:17:12 AM

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

While I know that these are the common scenarios from before and could perhaps happen in the future, but still, be wary that there is still a chance that bitcoin would not go up in price. I mean we can't certainly know if bitcoin will reach a hundred thousand valuation in the next decade, or in the next 20 years.

I am not saying that it isn't safe but you have other options to diversify your money other than bitcoin. More importantly, invest what you cannot afford to lose.

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