Topic: Investing in Bitcoin in Student Life - page 17. (Read 2936 times)

Yeah, many countries still banned Bitcoin or crypto since it is always used by the wrong people as money laundry. If you can still invest in Bitcoin keep doing that since many people will start leaving banks due to high interest like in the US. As long as you're using money that you can afford to lose it will be fine.

I know most people will say here that 10,000 bdt is too small, but considering that you are a student and come from a poor family, I can relate to this. I can't save on my own as it is even not enough for my daily transportation, but the dedication you have to saving is at best. Do good in your education; don't think more about your bitcoins; just think that someone will lend you money and give it back 3 years from now; focus more on your education; and save more to buy more bitcoin.

                      ..It has been said for many years that Bitcoin is much better than
                              Banks .
           .. Banks will not give you bit return aside from cheap percent of annual
    income ,and yes Holding money for Banks is a BS idea mate.

I am an Employee for many years before I learn about bitcoin , My money stays in Banks for future, but now? lol Pure bitcoin will be on my trust and yes my family's future will rely for this currency , and of course some altcoins   

As a student, you already have good thinking power, because you have thought about starting to invest in bitcoin. Such thinking will definitely encourage you to be able to move forward and be successful in the future. Never give up with the situation you are currently experiencing, stay enthusiastic about continuing to invest, especially in bitcoin. Because of bitcoin in the future, many investors agree, that bitcoin will definitely continue to experience a steady rise.
But you also don't forget to keep learning about the investment that you are currently in, namely in bitcoin. Because by continuing to add insight in bitcoin, you will definitely be more confident about bitcoin, and you will always stay calm with your investment.

And about your country still making bitcoin illegal, don't worry too much, because as long as your country's government doesn't make tough laws about crypto users in your country, the point is you can still be forced to continue investing. Because if you think about it wisely, why can bitcoin be banned?, even though it doesn't harm the government, on the contrary, bitcoin can help the economy of its people, but if you ask the government, don't expect too much from the government in your country to answer it with answers wise one. Because it's no longer a secret, they also definitely don't want anyone to be displaced from the existing government system in their country.

While many individuals don't even notice this, they have higher potential but don't care too much about the fundamentals of the market, I see you are fairly fortunate to start and have clear goals with bitcoin. market while ignoring anything beyond the short-term gains. Remember that your journey has just begun, maintain that perspective, and make an effort to learn more about this market, particularly with bitcoin. I believe this market will put a lot of people's patience to the test, but if you can persevere long enough, you will be able to use the lessons you have learned to find more opportunities for yourself. I wish you luck in this market.

There's also nothing wrong with looking at bitcoin as an investment, I bet you 99% of people are here to invest, not bitcoin as a payment option. People are just trying to accumulate bitcoin and then sell it for profit, few people are willing to spend bitcoin instead of fiat for daily life even if they are living in a country where bitcoin is legal.



When it comes to taxes, even myself, we use bitcoin anonymously because we don't want to pay taxes. I also believe most bitcoin investors are evading taxes more than performing their civic duty.

The idea of ​​investing bitcoins is very beneficial in student life. It is natural that the price of Bitcoin fluctuates all the time but it is true that Bitcoin will be a very valuable currency at some point. Bitcoin is also currently illegal in the country I live in. But one day Bitcoin will be legalized in all countries of the world and that will be very soon. If one buys bitcoin every month even if it is a small amount during student life Then he will see a big amount in future. It sounds hard but it is true.

1. Bitcoin is illegal in my country but exchange like kucoin Binance is available. P2p trading can be done through kucoin or Binance. I can sell bitcoins by p2p trading.
2. Bitcoin is illegal in my country so we don't have to pay exta tax

Now the price of bitcoin is seen to be pumped at times and some are seen to be dumped but by looking at the current market behavior it can be assumed that the price of bitcoin is not afraid of crash anymore. And many believed that Bitcoin could go to 12k but that doesn't seem to happen either.  So investing in Bitcoin now would not be bad.  op is a student but since he has interest in Bitcoin he can invest as much as he can. It is a good plan in student age.  It is commendable

Ok, first of all.... Bitcoin is not an investment... it's supposed to be an alternative payment option.  

You have a few problems that you have to solve, before you start buying bitcoins...namely :

1. Where are you going to sell your bitcoins, if it is illegal in your country.
2. How do you declare the proceeds of your trades for tax purposes?

We do not want you to break the laws and go to jail for tax evasion, before you even started your career. So, be careful and do your research before you start buying and selling crypto currencies.

Hint : Buy and then go to a country where it is legal and sell it there.... then use the cash there.  

As long as you do it for the long term, bitcoin will always provide good returns when bullruns come. However, it is never known when the bullrun will arrive because the price of bitcoin can go down and also go up suddenly due to some factors that we have never known before, and long term investment is the best choice because of the uncertainty of bitcoin.
it looks like you are doing DCA because it is the best way to buy bitcoins regularly according to your plan, and it is better to increase your purchases when the bitcoin price drops because it is the best discount to increase buying and normalize again when it starts to increase. And my advice is you should stick with money that you can afford to lose and do it after you've prioritized all your needs, and you should also have a little savings in the bank. And it serves as a reserve fund for when you really need it, aiming to keep your bitcoins intact until the bullrun comes along.

You will have to be very careful as you are investing on bitcoin under very perilous circumstances, you invested almost all your savings in bitcoin, while you cannot save much each month and bitcoin is illegal where you live, so any setback could force you to sell your coins way sooner and for a cheaper price than your stated goals.

My recommendation is that you stop investing your savings and you try to accumulate some sort of emergency fund, then in the case something happened you could avoid selling your bitcoin at the time and use those funds instead.

By investing in bitcoin, you have made a wise decision. If you can keep it for a while, I think you will profit from your Bitcoin investment.Going through your post carefully, I can see that you have a good plan for yourself as a student, which is why you were able to save up some money to invest in bitcoin. With this Bitcoin investment, I can say that you are gradually preparing for your future especially if you can continue investing in it, which will be a great opportunity in the future when you make money from your Bitcoin investments.but my advice for you don't be that eager of profit that you may make doing the next bull run and invest want ahead and even invest what you cannot afford to lose.

Saving money in bank for long term, I don't think it even have any benefits, and that is reason why I will never advise anyone to continue doing so. It will better if we can invest the money in other things that may be bring us profits.

indeed, many researchers or analysts say that bitcoin has the potential to reach $ 100k, but it would be better for you to do your own research and it would be even better if you also learn btc trading techniques, because in my opinion btc trading techniques are very important.
because even though the price of btc is at a high or bull run, the trading strategy must be prioritized, because many investors fail to sell btc at the highest price, so profits are not maximized.

your decision to invest in btc is a good one because you already know the risks of investing in btc.

You should also try to know for yourself by doing your own research why a bull market is expected, try to depend to much and base your actions on what people say even if they are researchers.

Bitcoin is still considered illegal in many countries, and although it has been a major discouragement for people, it has not stopped some people too. They have just been more careful with their bitcoins and who they tell about it, you should be careful with who you discuss bitcoin with in your country if it is highly illegal, so they do not rat you out to the government.

@OP you need to learn about privacy matter because there's could be a problem if your government know if you're hold Bitcoin. I'm not really sure very carefully is already enough to make your coins untraceable, you could ask it with other users in Bengali board.

1. He's from Bangladesh.
2. I think it's a privacy matter, there's no good reason to know.
3. In the last month, their banks had a withdrawal problem [1].

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[1] https://www.tbsnews.net/economy/banking/bangladesh-banks-server-collapses-all-payments-halted-611566

It doesn't matter if you still keep your money in the bank, because most people here still keep their money there and you will also need banking services in the future. But investing in Bitcoin is far more profitable than holding your money in the bank. If you save money in a bank, your money will be used by them and you will be charged fees for the service. In contrast to banks, with Bitcoin you can manage your assets freely and your chances of being able to get high profits are quite a lot bigger. But keep in mind that the price of Bitcoin is quite volatile, so you should be able to pay attention to this. Moreover, you are also a student, where money is very important to you. If you feel you have made enough profit, you can sell it and use the money for your needs. And the current economic situation in Bangladesh is quite difficult, you also need to pay attention to your financial condition first.

Glad to see that a lot of people even students are now becoming financial literate and they are now prioritizing to make an investment at their early age. I also saw some post that they made money through investing in the shitcoin, for me it is consideres lucky investment because they accept the risk and the reward for them is too great but do not ever be the type of trader or investor who have minset of "I know it all" because it is a dangerous type of mindset that can be compare to a sword that can penetrate even the of the owner of itself meaning you can do some decisions that can be consisdered as self sabotaging that can affect not only your capital but also your mindset.

Most of the traders and who got lucky because of some particular investment, lose all of their winnings wherein the market take it back because of the dangerous mindset which is "know it all". Losses are inevitable and even professionals and experts are still experiencing it. We cannot fully avoid it but we have control on how can we minimize it and how can we think properly if we experience it.

After earning 7K taka (Almost 70$) from tuition, 3K taka (Almost 30$) for your family expenses and 3k taka (Almost 30$) for your monthly other expenses and the remaining 1K taka is(10$) money you save. Since you are saving 1K ($10) every month you can put that savings in Bitcoin. Since you have acquired some idea about Bitcoin from your friends, you can invest your saved money in Bitcoin if you want to extend that idea. Maybe keeping money in a savings account would keep your money safe but your money would never grow so you can invest your savings in Bitcoin if you want to grow.  Although there will be risk, investing will create a lot of potential for your money to grow.

I see you are quite lucky to start and have clear goals with bitcoin, while many people don't even notice this they have better potential but don't care too much about the basics of the market. market and only look at the immediate profits. Remember your journey has only just begun and keep cultivating that belief, and try to learn more about this market especially with bitcoin, I think it will test a lot of people's patience when you can stick with this market long enough, you will know how to find more opportunities for yourself from the experience that you have learned, wish you luck from this market.