Investing in Bitcoin in Student Life - page 12.

tygeade

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Quote from: Minecache on May 12, 2023, 06:17:12 AM

If people decide to leave the bank and focus 100% on cryptocurrencies, it will be worse for us, not as good a thing as you are imagining. Do you think the government will let crypto kill the bank? So far, they are not too strict with crypto, but if it becomes a real threat, they will destroy it, don't forget the government is still the one that controls this world.

Although the bank is going through a period that is not worth our trust, we are still depending on and using it. How would you invest in bitcoin if you didn't have a bank account or fiat currency?

I think that is a dream and that's not going to happen and we are not going to end up with anything like this. I understand that it is not going to be something we could see in the future, and we can't really just leave banks suddenly whenever we want, that's not how it works at all and we should be all working towards something else. What is that? We need to achieve something that is a bit more towards what we can do with realistic situation and that would be a lot better.

I understand that there is a situation where bitcoin and banks co-exist together and that's what we can do, that's the future we should be aiming at, because that's realistic. Imagine something like banks accepting bitcoin? That would be the ideal world that we could reach probably.

Hypnosis00

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Quote from: Popkon6 on May 13, 2023, 06:14:43 AM

Instead of keeping money in the bank, if you invest in Bitcoin, the money will return. Since there is a bull run in Bitcoin ahead, investing in the current time is more likely to grow the portfolio. (I say this is why people are sitting without investing in Bitcoin) Investing in Bitcoin is highly profitable and risky, but the chance of losing is very low at present. Although people deposit money in banks and in our country last two months a bank went bankrupt and thousands of people lost their money. So from here people should pledge and advise people around friends who are there. Investing in Bitcoin for a long time will definitely bring benefits.

Those who have an empty knowledge of crypto will prefer to keep their money in the bank. But those who really have an interest in crypto and working hard to gain knowledge about this will simply take risks in investing in Bitcoin. I don't say using a bank is a wrong move at all but what usually people think is that they gain security from the bank, unlike crypto investment.
Like what happened to OP, he did what he thinks is right and helpful for him. He is not just looking for something that he could rely but also, he is building a good future in crypto space.

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Quote from: Minecache on May 12, 2023, 06:17:12 AM

Quote from: Bushdark on May 11, 2023, 03:11:40 PM

Quote from: yazher on May 11, 2023, 02:09:44 PM

It is now obvious that the banks are no longer reliable when it comes to storing your money because they might be the next to go down and your money will also disappear with them. The real horror is when they don't let you withdraw your money because it is not there anymore and they don't have anything to give you back which will often be the case especially when the bank has already used its options to recover but no luck. You will be like the others who will wait at the door of the bank hoping to get your money back. Well, this is not the case with bitcoins and you know how you can effectively keep your own money and let it be there in your wallet as long you want and withdraw it whenever you want.

The funny thing is that the bank are looking for our Money so that they can get more richer without our money adding reasonable interest. If we all decided to withdraw our money and invest it in cryptocurrency, we shall be surprised that many of these banks are going to collapse because they would not have the kind of customers they really need to grow.

The Cryptocurrency market is very competitive and we should be ready and prepare to invest in a good altcoins or better still, Bitcoin so that we can earn big in the future since the banking system had been fucking up since over decades now without we knowing what's up.

If people decide to leave the bank and focus 100% on cryptocurrencies, it will be worse for us, not as good a thing as you are imagining. Do you think the government will let crypto kill the bank? So far, they are not too strict with crypto, but if it becomes a real threat, they will destroy it, don't forget the government is still the one that controls this world.

Although the bank is going through a period that is not worth our trust, we are still depending on and using it. How would you invest in bitcoin if you didn't have a bank account or fiat currency?

Finding yourself completely in bitcoin without fiat and a bank is obviously also not the right thing because this is the same as relying on bitcoin which is clear that this is not a safe thing because there are no guarantees and the risk there is still quite large.
Investment is not something like that by risking the whole without seeing the other because we realize it or not even though we choose bitcoin as an investment tool but as you said we cannot forget the central bank for this matter because of course with the current conditions fiat is clearly still in control real in our daily life.

Reducing activity for that and switching partly to bitcoin is obviously very good but once again we cannot completely let go of this because of course we are aware that this will not be realized, moreover we are also aware that in the end bitcoin is only an option.

Popkon6

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Instead of keeping money in the bank, if you invest in Bitcoin, the money will return. Since there is a bull run in Bitcoin ahead, investing in the current time is more likely to grow the portfolio. (I say this is why people are sitting without investing in Bitcoin) Investing in Bitcoin is highly profitable and risky, but the chance of losing is very low at present. Although people deposit money in banks and in our country last two months a bank went bankrupt and thousands of people lost their money. So from here people should pledge and advise people around friends who are there. Investing in Bitcoin for a long time will definitely bring benefits.

Fatunad

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Quote from: Peanutswar on May 12, 2023, 05:18:19 PM

Quote from: Bd officer on May 06, 2023, 08:53:59 PM

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.
Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

Your goal plan is good because you want to make yourself aware of the investment and possible earnings with the cryptocurrency but in this statement even though bitcoin is illegal in your country what are the things you do to buy your bitcoin and store those?, and what are the punishments in your country that let you stop using the bitcoin?, still better make sure you are still having a good way of investing because you said there's a restriction on your country to prevent you from having possible problem on this, but if this is preventing still capable of its good thing because you have the chance to invest as you could. Just understand too how the trading works so every entry you make is profitable for the price movement and set a goal until when you will hold.

Despite of the bans or if ever its really that prohibited on your place or country then we could really still able to deal up,considering that there still various ways which you could buy without even being detected or being caught. When it comes to storage then there are lots of ways you could be able to do so on which it would really be not that much of a problem if someone would really be having plans on saving up Bitcoin despite of the situation then they could actually do that depending on how someone would really be sticking into their goal, doesnt matter on how much you would really be able to accumulate or save up because not all would really be having that better financial status and some are really that good for finding some income despite on being a student or simply they are really that independent.
Its really hard to save up or investing into something when we are really just that dependent from our parents on which we are really that basing ourselves on getting money from them.
Investing into when we are still student is hard but if we do really have that aim on achieving something in the future then it would really be a good step forward.

Peanutswar

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Quote from: Bd officer on May 06, 2023, 08:53:59 PM

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.
Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

Your goal plan is good because you want to make yourself aware of the investment and possible earnings with the cryptocurrency but in this statement even though bitcoin is illegal in your country what are the things you do to buy your bitcoin and store those?, and what are the punishments in your country that let you stop using the bitcoin?, still better make sure you are still having a good way of investing because you said there's a restriction on your country to prevent you from having possible problem on this, but if this is preventing still capable of its good thing because you have the chance to invest as you could. Just understand too how the trading works so every entry you make is profitable for the price movement and set a goal until when you will hold.

Obari

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Well I think you are already on the right track since you choose investing in bitcoin over depositing the money in the local bank.
I'm certain that despite the amount of bitcoin you intend to invest and hodl, there are always possibilities of making good profits from the market provided they don't get to greedy while holding.

I admire your courage to wanting to invest in bitcoin despite knowing the risk involved and I'm sure that if you stick for a little time, you'll definitely smile at the end of the day.
I always feel so happy seeing people especially youngies like myself who always strive and go out of their ways to take care of their family responsibilities and even tries to still invest in bitcoin at every little opportunity that they get and all I want to say is that you should keep holding as there are rumors of a bull run soon.
Goodluck.

karmamiu

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I was also once a student back then and at that time Bitcoin isn't that popular here in our country or even in my area, so in short, nobody knows about Bitcoin and it feels like I am one step ahead of everyone, but the catch is, I didn't have money to invest nor get hired to some part time jobs since I was underage at that time. So I scoured the internet and looked for jobs which didn't require KYC since I also didn't have a verified ID and also afraid that my identity will get exposed that I am too young for the job. Thankfully I discovered some odd side hustles and also this forum, then I started looking for opportunities here and saved enough money to buy Bitcoin, and the rest is history.

phuhuyxyz

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Quote from: Bd officer on May 06, 2023, 08:53:59 PM

A friend suggested Bitcoin to me about 1 year ago. I have been trying to learn the history of Bitcoin ever since. How to earn from Bitcoin, I learned that investing will make profit or loss. Success can never be achieved without risk. Then I became interested in investing in Bitcoin. My family is a very poor family. I am studying now and earning BDT 7000 per month from tuition, BDT 3000 I spend on running my household. BDT 3000 is my monthly expenses and I save BDT 1000, I save around BDT 10000 in a year and invest in Bitcoin. I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

At what price do you buy btc? When? It's hard to say whether you should invest in bitcoin as a student, as that ultimately depends on your financial situation and risk tolerance. Although some people have made substantial profits from bitcoin investments, the value of bitcoin can fluctuate wildly and there is no guarantee of returns. Before investing in bitcoin or any other cryptocurrency, it is important to do thorough research and carefully weigh the potential risks and rewards.

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Quote from: heslylamba on May 12, 2023, 07:17:06 AM

I think investing in bitcoin is much more profitable than saving money in a bank.

You'll never be profitable by just saving money because it's not investing. You may have misunderstood the definition of savings and investment. When you save, you can grow your money, but it's not referred to as profit. Additionally, saving money is not entirely safe, especially considering hyperinflation. The money you save now may increase in nominal value over 10 years, but due to inflation, its real value will decrease. Therefore, I don't really encourage solely relying on saving money in the bank. It's advisable to save for emergencies, but it's recommended to invest the majority of your funds.

Quote from: heslylamba on May 12, 2023, 07:17:06 AM

But in any case, Bitcoin is a risk. It can go up or down.
Always research what you are investing in and invest only what you can afford to lose.

That's what investing entails—there's always a risk involved. It's up to you to manage that risk effectively. If you manage your investments well, you have the potential to be successful and profitable.

Litzki1990

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It must be said that you have taken a lot of responsibility for your family in your student life. At the age when you are only supposed to study, you are planning for the future as well as taking responsibility for your family. This diverse initiative of yours is truly admirable.
Continue your investments while you continue your tuition. If you need more money you can start another tuition but don't spend the investment before you invest. If you don't spend this investment, you will find in time that you get more from this investment than you ever imagined.
Finally wishing you and your family good health. And hope to help your family along with your studies.

heslylamba

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I think investing in bitcoin is much more profitable than saving money in a bank. But in any case, Bitcoin is a risk. It can go up or down.
Always research what you are investing in and invest only what you can afford to lose.

Minecache

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Quote from: Bushdark on May 11, 2023, 03:11:40 PM

Quote from: yazher on May 11, 2023, 02:09:44 PM

It is now obvious that the banks are no longer reliable when it comes to storing your money because they might be the next to go down and your money will also disappear with them. The real horror is when they don't let you withdraw your money because it is not there anymore and they don't have anything to give you back which will often be the case especially when the bank has already used its options to recover but no luck. You will be like the others who will wait at the door of the bank hoping to get your money back. Well, this is not the case with bitcoins and you know how you can effectively keep your own money and let it be there in your wallet as long you want and withdraw it whenever you want.

The funny thing is that the bank are looking for our Money so that they can get more richer without our money adding reasonable interest. If we all decided to withdraw our money and invest it in cryptocurrency, we shall be surprised that many of these banks are going to collapse because they would not have the kind of customers they really need to grow.

The Cryptocurrency market is very competitive and we should be ready and prepare to invest in a good altcoins or better still, Bitcoin so that we can earn big in the future since the banking system had been fucking up since over decades now without we knowing what's up.

If people decide to leave the bank and focus 100% on cryptocurrencies, it will be worse for us, not as good a thing as you are imagining. Do you think the government will let crypto kill the bank? So far, they are not too strict with crypto, but if it becomes a real threat, they will destroy it, don't forget the government is still the one that controls this world.

Although the bank is going through a period that is not worth our trust, we are still depending on and using it. How would you invest in bitcoin if you didn't have a bank account or fiat currency?

Awraawra

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Quote from: Bd officer on May 06, 2023, 08:53:59 PM

A friend suggested Bitcoin to me about 1 year ago. I have been trying to learn the history of Bitcoin ever since. How to earn from Bitcoin, I learned that investing will make profit or loss. Success can never be achieved without risk. Then I became interested in investing in Bitcoin. My family is a very poor family. I am studying now and earning BDT 7000 per month from tuition, BDT 3000 I spend on running my household. BDT 3000 is my monthly expenses and I save BDT 1000, I save around BDT 10000 in a year and invest in Bitcoin. I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

It's good for you to save money you are a student but you know the worth of money. Your decision is good to invest in bitcoin but you know also the risk that bitcoin may goes down and up.
Better to invest in bitcoin than to save your money in bank I agree with that.

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Quote from: yazher on May 11, 2023, 02:09:44 PM

It is now obvious that the banks are no longer reliable when it comes to storing your money because they might be the next to go down and your money will also disappear with them. The real horror is when they don't let you withdraw your money because it is not there anymore and they don't have anything to give you back which will often be the case especially when the bank has already used its options to recover but no luck. You will be like the others who will wait at the door of the bank hoping to get your money back. Well, this is not the case with bitcoins and you know how you can effectively keep your own money and let it be there in your wallet as long you want and withdraw it whenever you want.

The funny thing is that the bank are looking for our Money so that they can get more richer without our money adding reasonable interest. If we all decided to withdraw our money and invest it in cryptocurrency, we shall be surprised that many of these banks are going to collapse because they would not have the kind of customers they really need to grow.

The Cryptocurrency market is very competitive and we should be ready and prepare to invest in a good altcoins or better still, Bitcoin so that we can earn big in the future since the banking system had been fucking up since over decades now without we knowing what's up.

blockman

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Bitcoin reaching $100k soon is a speculation and don't forget bout that OP. Even if we're all believing that it shall come, from the point of view of someone who's new to the market, you shouldn't expect too much. We've done that in the past and it did break our expectations because it wasn't met. But for me, that's okay because I know that Bitcoin will certainly do better in the near future, and from time to time, we shall see how it's going to break its past ATHs. You being a student and optimistic and invested in bitcoin, keep it up. You'll never know how far investing in bitcoin will bring you even with those little amounts that you've. And as you've said that Bitcoin is illegal there, I hope that you'll do fine.

alastantiger

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Quote from: Bd officer on May 06, 2023, 08:53:59 PM

Lately I think it is better to invest in bitcoins than depositing money in the bank.

Investing in bitcoin is better than saving your money in the bank, this is a statement of fact. $100 saved in the bank 2 years ago is doesn't have the same worth of purchasing capacity as it is today. This is not the case with bitcoin. Invest one of the best decision to make as a student is bitcoin.

Quote

Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

We know banks still have their own place to in the society but not as before when we blindly followed them because we almost did not have any option. With the romance between the banks and the government we can see that they are not for us and we have to look after ourselves and our money. Bitcoin gives us the better option.

yazher

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It is now obvious that the banks are no longer reliable when it comes to storing your money because they might be the next to go down and your money will also disappear with them. The real horror is when they don't let you withdraw your money because it is not there anymore and they don't have anything to give you back which will often be the case especially when the bank has already used its options to recover but no luck. You will be like the others who will wait at the door of the bank hoping to get your money back. Well, this is not the case with bitcoins and you know how you can effectively keep your own money and let it be there in your wallet as long you want and withdraw it whenever you want.

Ryu_Ar1

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Quote from: Vaculin on May 08, 2023, 04:59:12 PM

It’s a great advantage that you are actually thinking to invest in bitcoin with your funds on hand. However, the fact that it’s highly volatile, then never invest all in, or never stick for bitcoin as your only investment. If you are aiming to make secured profits, invest also in other investments like real estate or stocks as they can also be profitable too if you know how these investments work.

wait, what you said in this case about real estate or stocks is indeed very good but back to the current context he OP is studying and he earns BDT 7000 / month or when we look at the current exchange rate of $65.22 / month and even then it must be deducted around BDT 6000 / $55 for OP's family needs and personal needs so that only about BDT 1000 in this case the rest he has.
Even though the advice you said is quite good, when it comes to Real Estate it is still very far in my opinion especially when we know that the conditions in being in Real Estate besides requiring a very large capital, it will also definitely take longer for the income results, not to mention the maintenance which makes this a little less appropriate.

I think there is no problem with what can be done first even though it is as you said that bitcoin fluctuates and there is no certain guarantee here, but on the other hand I think it is still very feasible if you really want to be in bitcoin.

tjtonmoy

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Quote from: Aikidoka on May 11, 2023, 06:06:57 AM

~Snip

Investment should only be made from a separate account which is meant only for investing and you should only hold the amount that you are willing to invest. And you need to be sure that you can effort to lose if the things went south.
Saving up to invest in Bitcoin is a great idea. And I am all for that. And I can't agree that he should give his savings in his local currency if he is willing to invest that. Because over time fiat currency loses its value due to inflation.
Same goes for keeping your money in bank. It gives you well less amount of profits/interest over time. And the inflation can really hurt your overall saving.

Topic: Investing in Bitcoin in Student Life - page 12. (Read 2936 times)