Investing in Bitcoin in Student Life - page 15.

Ziskinberg

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Quote from: Bd officer on May 08, 2023, 05:20:15 AM

Quote from: summonerrk on May 08, 2023, 04:35:38 AM

I think if the OP asks, cryptocurrencies are most likely allowed in his country.
I advise you to focus more on other points:
1) is there free money to invest? not in debt and not those that are for needs. For some reason, it seems to me that there are none, but you can always invest some small amount of money. For experience.
2) If the OP has no experience in crypto, investing and worries can prevent him from focusing on university studies, this is an emotional moment.
3) The main thing is that there is enough time for everything, if there is barely enough time for studying, then it is better not to invest in cryptocurrencies.

Earlier I said Bitcoin is not yet legalized in our country.
1. I did not invest by borrowing. I invested with my savings.
2. I have had a good experience with Bitcoin for about a year. Besides studying, I dabble in Bitcoin.
3. I will be able to continue my investment activities along with my studies. It will not harm my studies.

Just continue doing of what you think is right. As long as you can manage your investment and won't affect negatively your studies, that is still okay. In fact, it was a stepping stone to helping your family out of poverty and being able to provide for yourselves. Might some people think it was hard but it was not impossible when you really wanted to do something that would change your life.
But I have to remind you also not to put all of your savings into crypto and must remember that it was not legal yet in your country. And aside from that, you must keep some for possible emergencies so you don't need to ask for your parents.

summonerrk

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Quote from: Bd officer on May 08, 2023, 05:20:15 AM

Quote from: summonerrk on May 08, 2023, 04:35:38 AM

I think if the OP asks, cryptocurrencies are most likely allowed in his country.
I advise you to focus more on other points:
1) is there free money to invest? not in debt and not those that are for needs. For some reason, it seems to me that there are none, but you can always invest some small amount of money. For experience.
2) If the OP has no experience in crypto, investing and worries can prevent him from focusing on university studies, this is an emotional moment.
3) The main thing is that there is enough time for everything, if there is barely enough time for studying, then it is better not to invest in cryptocurrencies.

Earlier I said Bitcoin is not yet legalized in our country.
1. I did not invest by borrowing. I invested with my savings.
2. I have had a good experience with Bitcoin for about a year. Besides studying, I dabble in Bitcoin.
3. I will be able to continue my investment activities along with my studies. It will not harm my studies.

Then, with such a serious attitude, you have every chance to succeed.
I have been studying cryptocurrencies since 2016, and it has not been legalized in the country where I live either, but if there is a desire to invest and develop in this direction, this should not be an obstacle. The main thing to remember about diversification and risk ratio.

Bd officer

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Quote from: summonerrk on May 08, 2023, 04:35:38 AM

I think if the OP asks, cryptocurrencies are most likely allowed in his country.
I advise you to focus more on other points:
1) is there free money to invest? not in debt and not those that are for needs. For some reason, it seems to me that there are none, but you can always invest some small amount of money. For experience.
2) If the OP has no experience in crypto, investing and worries can prevent him from focusing on university studies, this is an emotional moment.
3) The main thing is that there is enough time for everything, if there is barely enough time for studying, then it is better not to invest in cryptocurrencies.

Earlier I said Bitcoin is not yet legalized in our country.
1. I did not invest by borrowing. I invested with my savings.
2. I have had a good experience with Bitcoin for about a year. Besides studying, I dabble in Bitcoin.
3. I will be able to continue my investment activities along with my studies. It will not harm my studies.

Marykeller

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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.

Because success cannot be attained without risk, not every risk results in success. You would take chances, which may result in profits or losses. That's to say, taking risk is for the brave individuals who believe that anything is likely to occur on their path to success (profits or losses). It is a 50/50 proposition.

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

According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

Don't base your decision on the crypto influencer's prediction of the price of bitcoin in 2025 ($100k), and don't hang onto the notion that it will get to that level. No one has ever guaranteed the price of bitcoin during a bull run season. Because of this, no one can predict her price in 2025. It's possible that bitcoin won't increase in value by that point or that it will be over the predicted price by 2025 or 2026. The $100k price is not certain by anyone

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Quote from: NicNacCoin on May 07, 2023, 09:23:31 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.

Since free trading and use of Bitcoin is completely illegal in countries where Bitcoin is banned, you should invest in Bitcoin with security measures in mind. Since you are in student life then you should finish your studies and invest on Bitcoin otherwise your studies will suffer a lot once you are caught by the police.

I think if the OP asks, cryptocurrencies are most likely allowed in his country.
I advise you to focus more on other points:
1) is there free money to invest? not in debt and not those that are for needs. For some reason, it seems to me that there are none, but you can always invest some small amount of money. For experience.
2) If the OP has no experience in crypto, investing and worries can prevent him from focusing on university studies, this is an emotional moment.
3) The main thing is that there is enough time for everything, if there is barely enough time for studying, then it is better not to invest in cryptocurrencies.

NicNacCoin

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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.

Since free trading and use of Bitcoin is completely illegal in countries where Bitcoin is banned, you should invest in Bitcoin with security measures in mind. Since you are in student life then you should finish your studies and invest on Bitcoin otherwise your studies will suffer a lot once you are caught by the police.

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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.

In my country there are almost no banks that go bankrupt except for new banks where there is no trust from the public and the problem of illegal bitcoin in almost all countries is illegal bitcoin except the state of Elsalvador, I want to ask if in your country there are many bankrupt banks, has the trust in banks decreased in your country?

MoonOfLife

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Quote from: Vinaa77 on May 07, 2023, 03:32:57 PM

Quote from: _BlackStar on May 07, 2023, 08:29:26 AM

I'm flattered to hear that, of course bitcoin is an investment asset that you should consider instead of saving fiat in bank. Banks have collapsed, it's getting worse day by day and we're bound to find the average customers withdrawing their funds to invest.

The choice is unique between choosing Investment or just keeping fiat in the bank, but we think for those who work in Bitcoin they are more likely to choose Invest even though they still use the bank to keep their deposits, for whatever reason they will still keep at least a little fiat in the bank, but in general they will continue to invest rather than keep all their assets in the bank.

How can we survive if we don't use banks and fiat these days? Bank of America is collapsing, not the world banking system, you should know it. America's fall doesn't mean the world is falling. We have more than 200 countries and millions of banks, and the collapse of American banks will only affect Americans. I am not against investing in bitcoin because I also invest a lot, but there is no need to badmouth the bank because it will never disappear from our lives.

death69

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Your saga, friend, is like an ancient artifact – mesmerizing and valiant. Pursuing dreams, betting on your financial horizon while dodging legal and fiscal landmines? Audacious! Victory without risk? Impossible. Investing world, risk is the core. Our mission? Self-education, portfolio diversification, and well-informed choices built on deep research.

Bitcoin? Intimidating, even foolish for some. But I reckon, with the proper mindset, it's a wise and bountiful investment. Keep saving, absorbing wisdom, and investing, my friend. Unyielding spirit and unwavering dedication to success? Bitcoin is only the beginning. Boundless possibilities await!

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Quote from: romero121 on May 07, 2023, 06:39:21 PM

Very few of the students take the right decision when it comes to investment. What Op have done is really appreciable. The best part he himself have decided to go with it avoiding the deposits into banks and other investments. Surely he'll enjoy the goodness of bitcoin investment in the long run. In most of the countries the legality of bitcoin isn't officially announced. Each and everyone use it believing that the country takes the positive stand. Nothing to worry about the country OP reside, just continue to do the best investing regularly and spread the word about it.

The main difficult faced by students is that they don't have much money to invest, because they have many obligations due to the studies and extra expenses it implies to them, such as rent, transport and food. Many students reach the end of the month with nothing left on their pockets, so they really don't have how to invest. And the money saved by their parents along the life is usually used to pay for their education.

It's great to hear when a student is saving some money and investing in BTC, but since it's not the most usual scenario, they will have an opportunity to start investing in Bitcoin decently only when they reach the professional stage of their lives, that is, when they start working for real on the area they are studying for.

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Very few of the students take the right decision when it comes to investment. What Op have done is really appreciable. The best part he himself have decided to go with it avoiding the deposits into banks and other investments. Surely he'll enjoy the goodness of bitcoin investment in the long run. In most of the countries the legality of bitcoin isn't officially announced. Each and everyone use it believing that the country takes the positive stand. Nothing to worry about the country OP reside, just continue to do the best investing regularly and spread the word about it.

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Quote from: SushiMonster on May 07, 2023, 01:54:19 AM

~snip~
1. What country are you from where Bitcoin is illegal?

Bangladesh is a small country in the Asian continent where buying bitcoins is illegal and a legal crime. Where we Be careful invest in Bitcoin, if law enforcement in our country finds out about Bitcoin investment, they will immediately jail us.

Quote from: SushiMonster on May 07, 2023, 01:54:19 AM

2. How much have you invested in Bitcoin so far?

OP has invested as much as he can afford. He said in the post that he is a student so he doesn't have that much money and they are very poor family. He originally invested BDT-10,000 per year and invested in Bitcoins from there. OP's number of exchanges is Average Dollar per BDT price {$1=৳110} (10000÷110)=$90.90. 1 BTC Average price $29000 Convert BTC ($90.90÷BTC29000) = BTC0.003134

Quote from: SushiMonster on May 07, 2023, 01:54:19 AM

3. Are there references to people losing trust in banks?

Of course, it is very difficult to trust the banks because several banks have gone bankrupt in Bangladesh before. However, all the banks that exist today are at risk of being declared bankrupt at any time. Due to which people are losing trust in banks and the current generation of youth trust Bitcoin. and the most saver than keeping money in the bank is to invest in bitcoins.
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JoyMarsha

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Quote from: SushiMonster on May 07, 2023, 01:54:19 AM

I have a couple of questions.

1. What country are you from where Bitcoin is illegal?
2. How much have you invested in Bitcoin so far?
3. Are there references to people losing trust in banks?

Many people invest in Bitcoin because they believe it is a way to protect their wealth from inflation and other economic uncertainties. Bitcoin's decentralized nature and limited supply make it an attractive alternative to traditional currencies.

However, investing in Bitcoin carries risks and is not suitable for everyone. Doing your research and seeking professional advice before making any investment decisions is essential.

Since the OP hasn't yet responded to your questions, allow me to assist by responding to them.
1. It ought to be Bangladesh. They are the nation that makes use of the Bangladesh Taka as its currency.
2. We must first determine the value of 1 BDT to 1 USD to get the entire amount the OP invested in Bitcoin. 106 BDT is roughly $1. Therefore, based on the article, the OP claimed to have invested roughly 10,000 BDT. It would cost $94 to split 10,000 BDT by the dollar rate of 106. Therefore, OP has made a $94 Bitcoin investment.
3. OP would be in a better position to point out the reference

Even though the amount OP invested in bitcoin was too small, I must admire OP for being able to budget 1000 BDT per month for 10 months. Investing $94 in bitcoin is an excellent approach for him to begin investing in bitcoin as a student. That demonstrates his strong conviction in bitcoin as a means of achieving financial success.

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Quote from: Smack That Ace on May 06, 2023, 09:36:00 PM

Investing in bitcoin offers better returns than depositing money in a bank. But as you said, investment is profit or loss, everything is risky, and bitcoin is no exception. I advocate when you invest in bitcoin, but remember one thing, only invest as much as you can afford to lose, and diversifying your portfolio is essential. Don't focus on just one asset, as the future is unpredictable.

Aside from the bitcoin investment, I think it's important for you now to have some savings. You probably won't need it now, but you may need it in the future for emergencies. Because your bitcoin investment doesn't always give a positive return, there will come a time when our portfolio loses, and we won't want to use it.

There’s no profit guarantee when you invest, at some point you may lose but there are also times you may get lucky and make profits. That’s how uncertain investment is, most particularly for bitcoin. The reason why we should always invest with caution. If you have tons of money right now, don’t invest all in, just invest in your spare money as losing will always be inevitable. And the most important is, have patience when you invest. You will never be successful in your long term investing in bitcoin if you cannot be patient in the first place.

mvdheuvel1983

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Go ahead and invest in Bitcoin. Take risks. Calculated risks though. Start with $10, $20, or $30 any amount you can spare. Buy it, hold while you concentrate on your academics and graduate with honors.
One of the reasons why I said you should hold is because if you're so focused on the price movement anxiety fears and doubt will overtake you and it might be difficult for you to focus on your studies so hold and keep reading up on Bitcoin and it investment.

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

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

This is an extraordinary thing, even though you are still a student, you are already able to manage finances quite well. And related to investing in Bitcoin, thank goodness you also understand all the risks, so that when what you want doesn't come true, at least you won't be frustrated. And investing in Bitcoin is actually worth it as long as we can be patient for holding Bitcoin.

Indeed, many predictions say that Bitcoin will be $ 100k in the next bullish era, but this is also uncertain. Or it's better if you monitor the price of bullish stocks so that you can reach your target price, but don't know for sure whether it will be $100k or not.

Regarding Bitcoin which is still illegal in your country, this is still unfortunate. But I'm sure that a lot of people are already working with Bitcoin there. Yes you need to be more careful with this, no need to tell that you have Bitcoins to other people in your country.

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It is indeed a good move to buy bitcoin at this period. We are currently at the end of a bear market and at the initial stage of market transition. So buying BTC today will have the possibility to earn a huge profit in a year or two. But of course, we should have patience and hodl until the target selling price is achieved. Sometimes Bitcoin doesn't follow its history and creates another trend which can be the opposite of what many are expecting. So just make sure that the fund you are investing is something you can afford to lose.

Vinaa77

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Quote from: _BlackStar on May 07, 2023, 08:29:26 AM

I'm flattered to hear that, of course bitcoin is an investment asset that you should consider instead of saving fiat in bank. Banks have collapsed, it's getting worse day by day and we're bound to find the average customers withdrawing their funds to invest.

The choice is unique between choosing Investment or just keeping fiat in the bank, but we think for those who work in Bitcoin they are more likely to choose Invest even though they still use the bank to keep their deposits, for whatever reason they will still keep at least a little fiat in the bank, but in general they will continue to invest rather than keep all their assets in the bank.

Ryu_Ar1

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Cheers to you my friend Cheesy

I just want to say that being poor is not an obstacle in this case and you can still be in the investment as much as you can but don't push yourself too much for it because this is an investment that clearly has risks that are indeed the worst possibility is losing so you also need to look at this condition.
I was looking for BDT currency (because i don't know) but after seeing you seem to be from Bangladesh, hopefully it's okay there with all the conditions and regulations about bitcoin.

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

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

Don't be too focused on this because even though the hope is still very big, but on the other hand we also need to know that it is not a guarantee so don't feel too much that it is final because there could be something unexpected happening. especially in the current conditions of course when talking about investing, we glance in a farther direction so that before the target we expect arrives don't let you give up in the middle of the road.

There is no guarantee whatsoever about bitcoin but when we are sure of the progress being made then in this case I always think positively that the longer this will be the more beautiful to go through even though of course we know the obstacles are also definitely not easy.

hannahB4

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There is no rule saying when you invest in bitcoin you can't have savings in your banks. As a student now you can decide to split the money in a 70:30 ratio, bitcoin and fiat respectively so when the need arises you won't be in a rush to sell your bitcoin.

Topic: Investing in Bitcoin in Student Life - page 15. (Read 2936 times)