Investing In Cryptocurrencies For Tuition Fees - page 2.

Lucius

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Quote from: davis196 on July 26, 2022, 01:12:38 AM

When I saw tether and dogecoin in the list of cryptocurrencies in which the people are investing I stopped reading.
People are "investing" in tether and dogecoin? This can't be serious.

The average investor (and that is the majority), does not know the difference between Bitcoin and any other altcoin, and as we can see from the research, they think that an investment in stablecoins is an investment at all. I would say that people are gambling with their money without even understanding the rules of the game, which will eventually lead to the fact that most of them will lose everything they have invested in - either altcoins will fail or the CEX where they store their coins will get hacked or perform an exit scam.

Quote from: davis196 on July 26, 2022, 01:12:38 AM

This shows financial ignorance and lack of proper risk evaluation.Investing in crypto for tuition fees seems like a really dumb idea and I don't think that the majority of crypto investors will do such dumb thing..

If there is any truth to Bitcoin being used by about 5% of the world's population, then we are far from any mass adaptation on any level. People will always look for an easy way to make $200 from $100, and cryptocurrencies are currently something that promises in this regard.

traderethereum

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Investing in crypto or anything else for educational expenses is highly recommended because we are preparing for those tuition fees for several years later.
We must choose the right asset to invest so that it can provide great profits after a few years.
If crypto is our choice, we should be very selective in choosing the coins and not just listen to other people's advice because it is our investment.
At least we can invest in bitcoin because we already know that bitcoin will provide great returns for long-term investments.
But if we want to choose other coins, we have to analyze them and find the right coin.

davis196

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When I saw tether and dogecoin in the list of cryptocurrencies in which the people are investing I stopped reading.
People are "investing" in tether and dogecoin? This can't be serious.
We already know, that a big demographic of young people are interested in Bitcoin/crypto and those people will teach their kids about crypto for sure. The number of crypto enthusiasts will be growing in the next decades, despite the hostile behavior of the governments and central banks towards cryptocurrencies. However, a lot of people are getting hooked by shitcoins, NFTs, scam crypto projects and memecoins like dogecoin.
This shows financial ignorance and lack of proper risk evaluation.Investing in crypto for tuition fees seems like a really dumb idea and I don't think that the majority of crypto investors will do such dumb thing..

KaliLinux

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Depending on crypto investment solely for my children's future education isn't the best idea for me but I do however believe that if it was a long-term Investment, way before the children go to college and these are free funds without needs which should be the case with Crypto investment, then I would do that but will not depend solely on this for my children's education as we know that crypto market can not be really predicted.

Wexnident

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Wouldn't really risk money that was to be used for tuition, would rather slowly build that up as a guarantee and use probably the rest that I could earn as the investment itself. It's rather risky, especially if we consider how crypto is a REALLY volatile market. I do agree with teaching the children about investments, not even just in crypto but in general. It's a great idea for people to learn about finance and investments and stuff maybe when they're in high school or of a similar age level or something.

If I were to invest the tuition money to something else, I'd go for something like gold instead.

worle1bm

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Although it's a really good approach but we all are familiar with the market volatility that could adversely affect your savings at that time so what about then? It's good to see that bitcoin is priority for many of parents but if you have choosen any wrong coin then all your life savings could end up being zero and that's the reality of this crypto market so we need to be sure about them.

We all have to cater to the children's need and investing the amounts at early age will reduce the financial burden in future but go with btc is good and guaranteed option to some extent if we compare it with any of the coins in the market so that you have some good amount after 3-4 years and DCA is cool if you ask me.

The Cryptovator

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Anyone free to invest in crypto doesn't necessarily have to invest in cryptocurrency for tuition fees at all. If anyone asks me if he wants to invest in crypto just for tuition fees then I won't allow him to do so. It's because he won't afford a loss in case of a bear market if he can't hold for a long time. For example, those bought in ATH regret it now. If they were invested in tuition fees then it would be the worst situation for them.

crwth

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This is a great idea, IMO. If you believe in something like cryptocurrencies, you can risk a lot, but it could give back to you if you have made the right decision. We wouldn't know what could happen in the future, but it could pay off more than your child's tuition or something. But it could pay for nothing as well. That's just the risk.

ChiBitCTy

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As a financial advisor I’m not likely to recommend to anyone that they should be investing their money for things that are very important (such as money for their education/tuition) in anything that is as volatile as bitcoin and other cryptocurrencies are. Why put your money at such risk for something as pivotal as education?

LogitechMouse

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Been doing this for years already. Saving some Bitcoin for the tuition fee of my children and I can say that it's quite early for me because I'm already saving even though I still don't have any child yet Cheesy

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Investing in crypto for tuition fees sure has pros and cons but it will solely depend on how long will you hold your cryptos and do you have some cash if emergency comes because if you don't have emergency funds, there might be a chance that you might get your crypto holdings for emergency funds. As for me, luckily I have some emergency funds in case an accident happen and at least I have some crypto holdings for future events like if my child will go to school etc. I'm not afraid at all with these bear markets because I'm holding some Bitcoins for a very long term (maybe around 7 years at least).

I know the risks of it that's why I always have a backup plan if things will not go my way and I'm making sure that I always have cash flow so I can still invest

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mk4

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I'm bullish on bitcoin, but damn imagine betting your child's tuition fees on bitcoin. Like, what if we get a bear market that ended up a lot longer than usual?

As always, increasing income streams is far more important than investing in bitcoin, imo.

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Quote from: Fundamentals Of on July 25, 2022, 08:17:44 PM

This would be better than saving in fiat because fiat is losing value year after year. Even if you save fiat in the banks that offer the best interest, it still can't make up for what your money regularly losses to inflation.

But still can't guarantee with your bitcoin saving keep the same values at the future when your kids growing up and have been on university, depending how strategy and great moment when investing with bitcoin or try holding on altcoin. I know better saving money with cryptocurrency than saving on the bank because have inflation values actually with how long keep saving more than 12 years based on my country study, from elementary school, junior and senior high school take 12 years. I think most drastically values drop when saving money on the bank, but if entry on correct time with bitcoin or altcoin have chance could growing up your money investment.

I prefer keep investing in cryptocurrency than the bank, but keep DWYOR

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It's great that you have long-term plans for the future, but you have to make sure you have a backup fund and don't need to use this money if you have a small problem in your life to deal with.

Second, make sure that your child's education won't be interrupted if your investments fall into bear season causing losses. Investing in crypto is a risky investment, although well-intentioned, it is not advisable to invest with money that cannot be lost, affecting life. Therefore, it is advisable to invest only with idle money.

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Quote from: GreatArkansas on July 25, 2022, 09:36:01 PM

Quote from: goldkingcoiner on July 25, 2022, 08:57:22 PM

Personally, I would not risk any money which I need in the near future, no matter how good the outcome might seem. Do not think about investing with money that you need for something else. Especially something important like sending your children to school.
(....)

Yeah, but if you are responsible you will have always emergency funds just in case.
People who do this must think that they can't guarantee 100% that their investment for cryptocurrencies that will be used in the future is safe, no one knows where are we going, pure speculation.
So, they must accept the risk of investing.

Definitely crypto investing is for long term, and it could be good as well for future education of our children. Nevertheless, as you have said, don't put everything in one basket.

It's good to have bitcoin investment, but at least you have plan B or even plan C if everything doesn't work well, just like what we are having right now, a bear market. So for sure not the right time to withdraw if your child is going to school this year. At least have some reserved fund and then step aside money for our crypto investment.

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Quote from: goldkingcoiner on July 25, 2022, 08:57:22 PM

Personally, I would not risk any money which I need in the near future, no matter how good the outcome might seem. Do not think about investing with money that you need for something else. Especially something important like sending your children to school.
(....)

Yeah, but if you are responsible you will have always emergency funds just in case.
People who do this must think that they can't guarantee 100% that their investment for cryptocurrencies that will be used in the future is safe, no one knows where are we going, pure speculation.
So, they must accept the risk of investing.

goldkingcoiner

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Investing in cryptocurrencies for tuition fees might seem like a good idea but it is not really the case for short term investments. But if you invest in say, Bitcoin today and your child goes to school 3 years later, you would probably be in the green. Or in Bitcoins case, in the orange. Roll Eyes

Personally, I would not risk any money which I need in the near future, no matter how good the outcome might seem. Do not think about investing with money that you need for something else. Especially something important like sending your children to school.

I feel like some parents would hold their child off from going to school until their investment shows profits. But by that time the child could already have finished a year or two of school.... Shocked

Fundamentals Of

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This is all right if your child is still a young kid and you are saving money for his college or university tuition. That means you still have a lot of time to wait for the price of Bitcoin to multiply.

This would be better than saving in fiat because fiat is losing value year after year. Even if you save fiat in the banks that offer the best interest, it still can't make up for what your money regularly losses to inflation.

But this might not be the best option if your child is already in high school and you are investing in Bitcoin the money that he is supposed to use in college or university. You might get trapped in a bear market when the time comes that you already need the money. You might be forced to sell with a loss.

DU18

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I recently read an old article which was published on June 22, 2022, even though the news might be a little outdated, but I feel that this article can be a reference for those of us who have difficulty getting or paying tuition fees.
Although he market is currently in a state of crash and this makes many investors suffer losses, but on the other hand according to a survey conducted in America, many correspondents have actually succeeded in educating their children by investing in crypto, according to a survey conducted by online media Intelligent.com, as many as 1,250 correspondents have been tested and the results are almost 87% choose to invest in crypto as a means to save tuition fees.
Most of these strategies can yield sweet results in the midst of the crypto market crash as it is today,like seen in some of the graphs below:

Source :
https://www.intelligent.com/

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