Topic: Investing in Bitcoin in Student Life - page 18. (Read 2936 times)

I had no idea bitcoin was (is) illegal in Bangladesh, it just sounds strange thinking about it. Anyway if I were you I would avoid trading, of course you can lose money when you invest but holding is one thing (and usually in the log run you get a profit), trading is a completely different story.

Next year there will be the halving, and I agree with you when you say that in 2025 we could see the $100k, in that case you could also sell and take home some profits, then wait for a dump and buy again.

I would be very careful in your case when investing larger sums of money in Bitcoins because of the illegality in your country. As long as the political situation is unclear in your country it might be hard to convert the Bitcoin back to Fiat money again. Maybe there is already a political movement that wants to legalise Bitcoin and it's only a matter of time before things change for you. It's still a big risk right now and I am not sure how the laws are for you about money from illegal activities. Could it happen than when you want to transfer money back to your bank account from selling Bitcoins, that it will be confiscated? Also don't be fixed on a specific time frame when it comes to Bitcoins, it sounds a bit that you expect a price of above 100k USD in 2025. There is no guarantee to for it to happen, it could be that it takes a few years longer to reach a new ATH. Just make sure you don't invest money that you need in the near future for your university fees or other important things.  

Bitcoin is not illegal in your country. Assuming BDT is taka so you're talking about Bangladesh. This is a common mistake people make about when a country makes laws about Bitcoin.

You cannot use it to make trading activities, or accept it as a method of payment.

But you are free to own it, no one's going to put you in jail. No one ever has been in jail for owning Bitcoin.

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.

Don't invest in Bitcoin just because if what researchers are saying online, they sometimes might be wrong just as they were wrong for the last peak of the market. Many were predicting it to be $100k but it didn't get to that price and many traders didn't take profits due to believing the prediction and they have lost money although all hopes aren't lost as Bitcoin will increase in the future.

Banks are not good investment platform as they'll just be making use of your money to make more profits for themselves by lending out your money while you lose due to inflation. 2025 will be very bullish for Bitcoin but the actual price Bitcoin would reached can't be determined by any researcher.

Saving money in a bank is indeed very risky and always exposed to inflation.
but if you invest in bitcoin, of course there will be the potential to benefit, especially if it is held for the long term, and in my opinion the decision you make is the right decision,
I hope your investment is successful.

and hopefully someday in your country many will adopt bitcoin and finally the government in your country will allow its citizens to invest in btc.

I respect your optimistic decision that has said bitcoin will hit $100k. But the problem is that it's nothing new. In 2020 and 2021 many people also believe that BTC will hit 100k dollars.
If realistically speaking, your decision to invest in BTC instead of the Bank is a good decision. But what you have to remember is that every economic system in this world has its advantages. If you put your all into BTC I'm afraid that if something like theft and digital crime happens then all of your savings will be completely wiped out.
I advise you to save and invest in BITCOIN and also to save some of your assets in the BANK. Because in my opinion, of course you still need a bank because of banking systems such as credit cards, debit cards, or transactions between platforms, for example.

It’s a nice idea as a student you are still able to save some money, just few percentage of students are always able to save money when they are in school most especially if they are from low income earns family. But do you think investing all your savings in bitcoin is a nice ideas, am sure if you lose the 10000 you are saving every year it will really be painful, and it might even affect you academically. You should have just invested any amount you know you can afford to lose, don’t invest all your savings in bitcoin, you should have just divided and leave some parts in bitcoin and you can look for other investments to invest in.

How sure are you that bitcoin bull run will start in 2025 and bitcoin will hit $100k, don’t be surprised bull run might even start before 2025 and we might not see bull 2025, I don’t believe those researchers, I know bull run will be coming in the future but nobody knows when it will happen. You might be disappointed when you follow what researchers say.

People from different countries are facing this problem, bitcoin is illegal but the government can not stop its citizens from investing in bitcoin, no matter how strict they are, citizens will still look for ways to invest in bitcoin. The government knows that bitcoin is the future and they don’t have control over bitcoin, so they are trying to kill bitcoin that’s why most countries are banning bitcoin.But you have to be careful when investing in bitcoin so that you won’t be caught and punished.

The only people that I can say they still have hope in banks are the government, which they are trying to make it mandatory for to be using banks and the older generation which they know little or nothing about bitcoin, but the younger generation also lose hope in banks. Banks are just using our money to enrich themselves, you will deposit money, they use our money to run their own personal business and we will still be charged for maintenance and other things. Banks easily expose our identity to the government, if you are having bank account, they your personal informations are not safe, it can be exposed at any moment, and we don’t also have freedom with our money, banks can freeze your account at any moment and you can’t do anything about it.

Don't invest in Bitcoin if you don't have spare money which you don't actually need to use for anything in near future. It is like not your case.

Sounds like you got a grant or a scholarship with tuition fee. I believe mostly it is only enough for you in your study and daily expenses for necessary thing. If you try to spend less and get some in saving, it is good. However, investment is risky and you have to think of your family too. Why not try to help them first with left over money from your tuition fee?

Remember that it might happen or might not happen.

Even if it happens, will you be able to take profit? I mean you must store your bitcoins safely and don't lose it. It does not make sense if Bitcoin hits $1M and you lost your coins by storing it with a bad method.

Storing bitcoins on exchanges are risky, you can lose coins anytime if they are collapsed, bankrupted, scam exit.
Reminder: do not keep your money in online accounts

Use non custodial wallets to store your bitcoins like Electrum wallet or hardware wallet (but I think it is not affordable for your financial status now).
[GUIDE] How to Safely Download and Verify Electrum

You can use Non-KYC exchanges to buy and sell your bitcoins.
https://kycnot.me/

Bitcoin is a long term investment and even though the ROI is mostly encouraging, you cannot count on it. As a student, remember one of Bitcoin's investment rules is to never invest money that you cannot afford to lose. Use only your spare money.  Also because of how volatile the market is, you should look into making other investments in addition to Bitcoin.

You can continue what you are doing well and still be careful when investing in bitcoin. I think the status of bitcoin, which is still illegal in your country, will change to legal when more people are interested in investing in bitcoin. Eventually, the government will allow bitcoin as an investment.

I suggest you keep saving bitcoin and using the bank for daily transactions. By continuing to save in bitcoin, you can hope that your investment can provide future benefits, especially when the bull run comes.

And in investing in bitcoin, you should plan how much money you can use each month so it doesn't interfere with your financial position for daily needs.

You are a member of my local community, most likely you are my Bangladeshi user. Bitcoin is a government banned currency in my country Bangladesh. Here you can not invest in bitcoins, do all kinds of financial transactions, convert to different currencies etc. By a 1972 Act of the Parliament of Bangladesh, all economic activities, transactions, etc. on Bitcoin have been declared prohibited by the Money Laundering Act.
Most likely you are a student and you spend a certain portion of the income you earn from tuition to support the family. It's great that you are working hard to support your family. But one thing is afraid since you want to invest on Bitcoin the matter is very confidential for you and Bangladesh police and intelligence department should be careful about this so that they don't know the details about you. Once you come under the law, your student life will suffer a lot which is not desirable at all.
One thing I can say as a Bangladeshi is that if you can invest that money in Bitcoin than keeping it in bank then it will be much better for you. As security of money of Bangladesh Bank cannot be given by Bangladesh Government and Central Bank. Moreover, another thing is very important that due to the amount of inflation in Bangladesh, if you deposit money in the bank, you may or may not get that money back in the future. That is why you are advised to focus on investing in Bitcoin instead of keeping money in the bank.

Just a heads up: if you listen to those so-called "researchers" or "analysts", you're bound to be disappointed — because they don't know jack shit. Best of luck.

First of all, those figures I have put in bold, in what currency they are. As far as I can see you must live in Bangladesh, and if they are in local currency you must be saving not even $100 a year. Well, it is a small amount, but I guess it will be more noticeable where you live, although I am going to tell you something important:

At this stage of life you are in, the best investment you can make is in yourself. Learn something that you like but above all that is usable in the marketplace, that has a good demand. This will make you money and with the money you will be able to buy more Bitcoin in the future.


I think it is most likely that it will happen in 2025 but you are right, we can't be sure of that.

It could happen, but don't count on that. Those people could easily be wrong. They are probably the same people who said that the price would rise above $100k in 2021.

Good for you. It's good that you invest money right away because inflation is killing your fiat every year.
It's good that despite bitcoin being illegal in your country you still manage to buy it, that's why bitcoin is very important to us.

I hope you will make it man, good luck to you!

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.

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.