Topic: Investing in Bitcoin in Student Life - page 4. (Read 2936 times)

         I think it would be a smart strategy for study periods, whether in college or even in high school (I would apply more in college since high school is a bit complex to get money), since many of us have faced complex and stressful economic situations in those times of study or at least I speak for myself and a few people. If I had discovered this world during my college years, it would have saved me a lot of stress. I firmly believe that before a student ventures to invest in Bitcoin, it is essential that he acquires a deep understanding of this cryptocurrency. Investigating its operation, evaluating its present and future potential, and considering other relevant factors are prudent actions when making financial decisions.
         
To get promising results when investing in Bitcoin requires a great deal of patience and trust. Although the early creators of this cryptocurrency reaped great benefits, its potential remains fruitful, albeit possibly at a more gradual pace. It is evident that more and more people are becoming aware of the inherent instability of fiat currencies compared to Bitcoin. Rising inflation in most countries provides an incentive to invest in a currency that is known to be on the rise. This reduces the risk of loss and preserves wealth in the long term.

You did mentioned about your country making BTC trading as illegal. And you're investing into BTC "very carefully".

So I gotta ask you bud. You buy BTC through P2P transactions?

Coz' I know if BTC is illegal in your country, it forbids banks and other institutions from accepting funds coming from BTC or other currencies that has high risks of bank account closure.

But at least you're trying to put some extra money into Bitcoin that you can afford to lose and preparing for the future.

You appear to understand trading well, pal. Yes, most traders dont beat the market. Trading, especially day trading, needs a lot of time, expertise, talent, and luck. This isnt possible for most "normies".

I'd advise against generalizing any transactions. While I agree that a conservative, DCA approach is usually optimal, especially for newbies and those with low finances, other investment techniques might be advantageous.

I'd also like to point out that your "shitcoin" stance is really binary. Altcoins with good fundamentals and large returns exist. Diversification can reduce risk even in crypto. Each investor should do their homework before investing.

In the US you have these things called a "529 Plan", where an institution that offers such a plan opens an account for you to invest money for college/university education. They also have a hedge fund manager invest all the money in stocks and indexes to try to increase the value of the investment so that it can at least beat inflation.

But the 529 is a long-term investment, you can't invest in a 529 or crypto and then expect X% profit in 3-4 years, in fact many people make one for their newborns.

Student life is considered to be one of the most difficult periods of life because in this student life, even if one has many wishes, it is not possible to fulfill them. In the student life, there is not enough money in the pocket to study outside the family. Among them, there are many students who try to fulfill their desires while managing their studies by doing tuition or part-time jobs just to fulfill some of their hobbies and to provide good support to the family.  

As OP has done, he spends a part of the money he gets monthly from tuition for his family and another part he invests in Bitcoin which is a big achievement for him. Because he had a dream here to invest in Bitcoin one day and he managed to do it in his student life maybe he is proud of himself now.

Imagine that your money is just enough for transportation when we are still students. It is really hard, and mostly we always ask for money from our parents. That is why it is better to save it than invest it. I just remember before that I did save money just to buy shoes or other stuff, which we knew was good at the time, but if we just saved it and invested it into something like having a small business, let's say selling loads or prepaid load cards, we could earn money. Investing, for sure, as a student is not something that we prioritize, as we are always thinking of buying new clothes and stuff that we need; we just wake up when we start to have a job.

Student years are not the easiest period of life, many have to earn extra money in order to be able to pay for housing and food, during such periods you don’t really think about any kind of investment, it would be good to save some money so that your pockets are not empty. ) But if there is some more or less stable source of income, then of course you can start buying bitcoin, it will not be superfluous, although in your student years these investments will not be able to reach any significant values.

It is always been a perfect choice to invest in bitcoin but always remember the pros and cons.
but in totality then the best approach is what you can afford to lose.
You are risking more than us usual investors who has not having banned from crypto using but you as you mentioned Banning bitcoin in your country and also being student that tries to put your hard earned money?
I salute you from doing such hope that you will make your family proud maybe not today but in the future.
and also please be careful because any time the government may take your precious coins.
and you may not recover it again.

I don't see anything wrong with airdrops. If a person knows how to take part in them and receive a beneficial reward for himself, then why not do it? There is nothing reprehensible in the fact that it is not as complex and sophisticated as trading or investing. The main thing is how a person manages opportunities. And if he sees an opportunity to make money on the testnet, so that later he can profitably invest this money and get many times more gains, then he can only be praised for his resourcefulness and determination.

What would you earn from depositing in banks? nothing but a cheap small interest an d you will only make bankers richer.

just be careful because you are doing illegal and the chance of being caught and punished is there but with that you will only have big potential of becoming rich in perfect time.
at least he invested in best chance and that is being student.

Yeah, I agree that $10 would not be a bad investment for a student if that's only what they think they can afford to invest, but I somehow imagine that for a student who is spending about $10 every day, it should not be very difficult to save up $1 every day for a week; he or she would have saved up $7, which in four weeks is $28. It would not also be bad to invest $28 a month, but what's wrong with some people is that they cannot make some sacrifice, knowing that every investment they make is still for their future benefit. You know that trading is not for everybody; there are some people who clearly admit that they can't handle trading, while others know they can't either but just want to try it out. In my opinion, for a student, it's just better to accumulate their Bitcoin gradually rather than venturing into trading. Perhaps trading is not the only way to increase your crypto holdings; with any slight unsuccessful trade, he can even lose $10.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

People have to choose for themselves, and we are in a bitcoin section (thread), so we are focusing on bitcoin here... but yeah, people will frequently get distracted by shitcoins, and they might not even know what bitcoin is.. so they study shitcoins and they believe that bitcoin is part of what they are studying


Sounds like you are just saying the same thing that I already said, but yeah nothing wrong with putting into your own words.


It is good to establish a budget, and frequently normies have bills coming due on a monthly basis, so frequently, there will be ways to structure your cashflow and your budget on a monthly basis.  Some people will choose to invest into bitcoin once a month, but it seems to me that if there are some serious goals to reach bitcoin accumulation levels, then there might be some preferences to invest every week.. rather than monthly, and of course some people might choose a compromise approach of investing every two weeks.

There are different ways to manage getting to BTC accumulation target levels that likely would depend upon whether someone is starting from the beginning as a no coiner or if they are a low coiner, but then after they spend some time accumulating BTC, they can tailor their approach to maybe have less urgency in terms of at least building some kind of an initial meaningful stake, and a person who is able to lump sum into bitcoin is going to have had built a meaningful stake much faster than someone who might have a way smaller budget such as someone who ONLY has $10 per month, it will take a few years for the person with a low budget to have had built any meaningful amount of value into bitcoin.


DCA is likely the best approach, but it is not the ONLY approach, and it is not the best for every person. 

Part of the reason that DCA tends to be the best is because most people do not have any lump sum amounts that they can invest, and even if they do have lump sums, they might be feeling somewhat leary (or skeptical) about bitcoin as an investment, so DCA allows them to mentally and financially get used to bitcoin as part of their investment portfolio (even if bitcoin might be the ONLY thing in their investment portfolio - especially if they are a new investor). 

There is nothing wrong with lumpsum investing into BTC or even buying on dips, but generally speaking there are a lot of people that might also want to include a DCA approach -either as their primary approach or a way that they supplement those other approaches.. even if someone might perform lump sum investments on a quarterly basis as a way to work towards establishing their BTC allocation target, that still might be considered as a kind of DCA, depending on how it is structured...

For example, if someone has a $100k investment portfolio that they have built over 10 years, and they have a job that pays them around $50k per year, so they are accustomed to investing around 10% of their income (that would be around $100 per week), then maybe they had ONLY invested around $50k into their investment portfolio, but the value of their investment portfolio has doubled over the past 10 years.  So if they want to get into bitcoin, they might target anywhere between 1% and 25% of the value of their investment portfolio to end up into bitcoin, so they have options to divert value from their investment portfolio into bitcoin or they could divert their current investment straight into bitcoin, and if they continue with $100 per week into bitcoin, it may well take them a bit longer than 2 years to reach a target level of having invested 10%-ish of the value of their investment portfolio into BTC - so there is not necessarily a need for DCA or a need for an all or nothing approach in terms of picking which strategies to follow or within what kind of proportion to solve the investment, but a person who has already been somewhat successful in terms of investing for 10 years is going to have more options than someone who is brand new to investing.

Part of the reason that I suggest to focus ONLY on investing in 1 or two investments when you are early in your getting into investing and early into building your investment portfolio, is that sometimes it can take many years to get into a meaning amount of value such as somewhere between $20k and $50k before even wanting to start to diversify.. and the threshold for diversification is going to be a personal discretionary matter, but still may well not be necessary or even advantageous in the first few years of building an investment portfolio. 


You are correct that there is likely a need for anyone who is engaging in any kind of investing to have cash reserves, too.. So OP had suggested that he completely put money into bitcoin without even having cash reserves, and likely it means that he is not really even in a position to invest into any kind of a volatile asset such as bitcoin, because he does not have enough money to cover any emergency expense that might come at any time, and therefore it is not even really advisable that anyone should make any investment if they might end up having to cash out of their investment (because they have to cover some kind of an emergency expense) at a time that is other than their own choosing... so it may well be the case that OP is engaged in gambling rather than investing because he has not sufficiently/adequately thought through various emergency scenarios that might happen.. so in that regard, maybe he ONLY has enough of a budget to invest half of what he is investing into bitcoin and the other half should be kept for emergency expenses.. (he likely needs to either increase his income or decrease his expenses so that he can actually afford to invest into bitcoin without devolving into gambling behaviors).

though 10k bdt (90 usd) is not big amount in a year but as a student it's enough investing. i don't appreciated that you invested all of your hard income in one basket, holding money in online it has risk so you should deposit some in offline in bank, there your money will safe.

An ideal investor never invests in Bitcoin and other cryptocurrencies at the same time. In this case, however, if one tries to invest in multiple currencies at the same time, then the investor's attention will be lost and he will not be able to make the right decision when investing in Bitcoin. But an investor must invest a certain portion of his income on Bitcoins every month or every week. In this case, he must decide when to invest in Bitcoins and he must wait when the market goes into a dumping situation.

DCA technique must be important for an investor because when one wants to employ without knowing the investment risk management then he must reduce the risk by applying DCA technique. But an investor must not invest all his dollars at once but must apply the dollar cost averaging system.

For sure, trading is bad advice for the vast majority and probably even the overwhelming majority (close to 90% of normal people --- aka normies)... It's like you are suggesting that since you are poor... learn how to gamble.  Fuck that nonsense.

Personally I believe that if you are poor then that is more reason why you need to be more conservative rather than choosing to enter into risk merely in order to try to beat the odds - when 90% or more of traders are not beating the market, and they specifically not beating some kind of a DCA technique.

Sure, you can try to supplement DCA with some advance techniques of buying on dips, but the core of the beginning positions is probably to be focusing on investing regularly and figuring out ways to build your BTC regularly.. and don't be fucking around with selling.. If you want more BTC, then you need to figure out various ways to buy more rather than selling in order to try to buy lower... and also fuck shitcoins, if you are suggesting to get involved in some kind of a shitcoin in order to increase your BTC stash.. that would mean that you are distracted, and you probably would be better off figuring out various side hustles to earn more money in order to buy more bitcoin to get yourself up to buying $100 per week of bitcoin rather than $10 per month of bitcoin.

A few month should suffice if we do speak about being knowledgeable in crypto space or with Bitcoin as long you wouldnt really be stopping on learning and reading up on things here on forum
then you would definitely be able to gain up such knowledge and awareness about on how this market works or behaves. When you are still that a student then it isnt something that would
really be so shocking that you would really be having a hard time on making investment since we dont have that source of income that we could rely on, compared to those who do have work
then it would really be that having the advantage but if not then it would be hard to make investment when you are still a student since we are still that relying on our parents on having money
came from our allowance.

Therefore, all it takes is optimism and confidence that being here is a good choice.
I may be new when it comes to bitcoin but after 2 years of being here I always see some of the same conditions especially for those who are trying to bring bitcoin down with the classic reasons that keep repeating like crime or maybe the impact of pollution but again this is just a classic way of repeating that in the end the result will still be the same because bitcoin will still return to their form with more and more rapid development.
Talking about $100K right now is still going to be a dream and a wish but I think as the development continues and the adoption continues to increase then even if it sounds like a long time away but of course it is.

Even this all is good and logical but not apply for all because everyone is not lucky like your cousins to have things like this but still I personally found few peoples those are doing things for investing into bitcoin from their student age, and they are now regular in this all because they are not only investing they are also having good eye on market which is helping them for taking profit as well as recently we have good jump which give profit to many and now heading for another bearish trend which will also give profit too few investors.

I also have good feeling about Airdrops, but I never found myself lucky with having good Airdrops mostly give me pennies which are wasting of time, so now I already skip this all and now doing some stuff for the investing into bitcoin which is also helpful for me and many others like hopefully we will found more suitable ways for this all as well in near future.

Some persons actually have a preconceived advice to give or what they may call standard advice, such that any case that arises will be greeted with the same advice. Some cases if not all should be treated cade by case. According to JayJuanGee, do you expect Op to divide $10 into 5 in order to diversify.


Actually, a $10 per month is not totally poor for a student not from a buoyant background. But I feel if such person can devote time and learn trading, they can make $40 from the $10 within 3 months. Bitcoin might not give this in one year if bull run is not seen.

Wow! This is cool, I would count myself as still a learner in the crypto field and haven't had much experience with airdrop but with what I have being reading about airdrop here I never actually thought that they are somehow fruitful like you prove them to be now, I have always had this view that most airdrop are just a massive waste of time so never actually had time for them even now I had some airdrop referred to me but am been reluctant to participate because I think they are majorly waste of time.

But these your cousins actually did well because making an investment as a student is a good plan because that money saved can be used to start up something when they are done with school.