My personal savings now I will invest in Bitcoin - page 3.

Dr.Bitcoin_Strange

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Quote from: DaNNy001 on July 13, 2023, 01:04:09 PM

Sometimes you don't get to blame them for thinking such because they might have been probably told the wonderful news that follows a bitcoin investment by a friend and all they could imagine is the huge profit they calculate will be there if they invested. Most times these advice are from people who have benefited a lot from bitcoin but the major issue is they don't actually explain to these newbies the risks that follows when you invest in bitcoin and again most of the newbie are just lazy to their own research they prefer going through shortcuts in life thats wanting to have huge earnings without probably taking big risks.

This is the reason why some newbies really fall for most ponzi schemes: they are always looking for shortcuts to earn quick money, and they land themselves in some huge losses of assets. The worst mistake that some of them even make is to get convinced into believing that Altcoin is just the same thing as Bitcoin, and by the time they also hear the 1000x profit story of some alt, they will just sell their minds to greed and buy shitcoins, thinking they are Investing in Bitcoin.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

DaNNy001

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Quote from: Awaklara on July 13, 2023, 01:43:19 AM

Quote from: smile1218 on July 13, 2023, 01:19:47 AM

Before investing in Bitcoin make sure you have a thorough knowledge of what you will investing. If you are hesitant and you still don't understand your decision you try to invest in a small amount because actual trading could be the best teacher. Also make sure that you will invest only what you can afford to loose. Never invest all what you have you can diversify it or do the dollar cost averaging. Think so many times before investing so that you will not regret it what ever happens to your investment. Assess yourself if you will keep that investment for a long time or you just wanted to do a fast trading. The decision would still be depends upon you.

because most beginners also just go along with friends' suggestions or what they see on social media ads. they purchase assets at random for their investment. even using money from the needs they have.
the basic concept of investing, they will benefit if they choose the right assets and also have the patience to achieve their investment plans. many beginners think they want to get profits in a short time by investing in Bitcoin. and clearly it is the wrong owner.

Sometimes you don't get to blame them for thinking such because they might have been probably told the wonderful news that follows a bitcoin investment by a friend and all they could imagine is the huge profit they calculate will be there if they invested. Most times these advice are from people who have benefited a lot from bitcoin but the major issue is they don't actually explain to these newbies the risks that follows when you invest in bitcoin and again most of the newbie are just lazy to their own research they prefer going through shortcuts in life thats wanting to have huge earnings without probably taking big risks.

KiaKia

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Quote from: Ricardo11 on July 13, 2023, 01:38:55 AM

Congratulations, you want to invest in Bitcoin without keeping money in the bank. If you invest long-term in Bitcoin now, you can get very rich from here. Investing in Bitcoin without keeping money in the bank will be the best decision of your life. Bitcoin is the best for investment. Nowadays many people are losing trust in banks. Because currently many banks are going bankrupt. But there is no possibility of Bitcoin going bankrupt. So many people are now investing in Bitcoin. The value of Bitcoin will increase significantly in 2025. In 2025 the value of Bitcoin will rise to around 100k. So instead of keeping your money in the bank, invest in Bitcoin now. You can achieve great success in this.

How many banks have really go out of business because of bankruptcy in your country? And where are you from I will like to know because this claim feels like a false to me, since I was born I have only know 1 bank that closed down and that's like 1 out of 12 banks that are functioning perfectly for years now.

My parents kept all their money in the banks and they are older now, till this day not a single bank when bankruptcy on their watch, why are people talking about bankruptcy like it's something that happens every now and then?

Instead of advancing this person to invest what they can afford to lose in Bitcoin because of the risk you are praising him for investing all the money he keep In Bank into Bitcoin, that's a very wrong way to invest in anything, I still keep money in the banks for many other reasons, I need Fiat to make transfer to buy things I can use, I will like to know what he use when he needs to buy something for himself or his family.

so98nn

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That is a very interesting project for yourself and your savings plan. This will definitely work for you since you are going long term with this. You will be making nice selling entries with optimum price range. This means you are going to do dollar cost averaging with this type of savings. If it is five years plan then you can easily consider around 20-30% yearly hikes in your investment. If you start doing compounding investment with this then I am sure you will be able to earn even more than that. With the five years of Timeline it’s gonna be huge for sure. Good luck mate and welcome to holders group.

Rupok

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You cannot earn much profit if you keep money in the bank. Investing in Bitcoin will definitely be good for you. But I think it is better not to invest your entire money, you can keep some money invested in bank if you want. If you have gained enough experience in Bitcoin investing then be aware of the risks. Now is the right time to invest in Bitcoin as we are in a bear market. But hopefully we will reach a bull market very soon. But the remaining money should be invested while maintaining financial balance.

Sterbens

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It makes sense if you look at the conditions you described for your country to move because this can also be one of the security and comfort for you but in this case you have to pay attention to something else because what I often read and what I know so far, your country is still not too friendly to bitcoin so in this case of course you have to be more careful because it could be that what you do violates the rules of the government so you don't get another loss from this even though there are several other friends from the same country as you also still in bitcoin on this forum.
Being in bitcoin still has risks but when looking at the conditions of the current economic chaos the best way to move is the right choice.

Maslate

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Quote from: Jocuserious on July 10, 2023, 10:11:59 AM

Never invest all your money in crypto currency. You should invest 50℅ money so that you can start new business with other 50% money in case of loss. Moreover btc price has increased a lot now and if it goes down in the future you can lose a lot. Don't be the last to invest and don't make the crypto market the first to trade.

I have to agree with you. Bitcoin is a highly profitable investment but we should not forget that it’s highly volatile too, and anytime the price will drop again inevitably. So never put all your funds in a single egg. Learn to diversify as well. I suggest you put small amount of funds in bitcoin at first, and when it progress, increase your size position using your profits until you maximize your bitcoin investment through DCA. That way, you will manage the risk and reduce your chance of losing.

xSkylarx

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Quote from: Awaklara on July 13, 2023, 01:43:19 AM

Quote from: smile1218 on July 13, 2023, 01:19:47 AM

Before investing in Bitcoin make sure you have a thorough knowledge of what you will investing. If you are hesitant and you still don't understand your decision you try to invest in a small amount because actual trading could be the best teacher. Also make sure that you will invest only what you can afford to loose. Never invest all what you have you can diversify it or do the dollar cost averaging. Think so many times before investing so that you will not regret it what ever happens to your investment. Assess yourself if you will keep that investment for a long time or you just wanted to do a fast trading. The decision would still be depends upon you.

because most beginners also just go along with friends' suggestions or what they see on social media ads. they purchase assets at random for their investment. even using money from the needs they have.
the basic concept of investing, they will benefit if they choose the right assets and also have the patience to achieve their investment plans. many beginners think they want to get profits in a short time by investing in Bitcoin. and clearly it is the wrong owner.

And also, they just based their decisions on some influencers online without doing their own research. Most of those who lost their money did so because they followed the advice of the influencers and jumped in on the hype, blind to what was really behind those coins. They just heard promises of the actual price, but it turns out it would not be listed on the exchange. But again, people are now more cautious than before, and they mostly criticize the influencer if they introduce a coin to their followers.

ancafe

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Quote from: hannahB4 on July 10, 2023, 03:50:55 PM

Like you said your savings is what you wanted to invest in Bitcoin but my question is if you have another source of income from these savings because you can't invest all your savings without having a stream of another income, if yes you can happily and rejoicingly invest your money waiting for your investment to grow.

Investing all the money we have in crypto will prevent people from meeting their needs and it is better if the portion of the investment must be adjusted to daily needs and other needs, so that our finances can be balanced and not burdened when all the money we have is all transferred to investment because We never know when our urgent needs are needed at a certain moment. I personally put 35% of my money in investments, 45% for living needs, be it usual for health and children's education and another 20% for savings. In my opinion, the portion of money cannot be completely placed in one channel and indeed there must be a separate portion that must be separated according to needs.

Because if we put all the money we have in investments then how can we possibly offset our daily needs for the process of our life's journey. Investment is indeed very important to push us to reach the stage of financial freedom and investment accuracy must also be patterned correctly and precisely because everyone needs a strategy in running it.

Awaklara

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Quote from: smile1218 on July 13, 2023, 01:19:47 AM

Before investing in Bitcoin make sure you have a thorough knowledge of what you will investing. If you are hesitant and you still don't understand your decision you try to invest in a small amount because actual trading could be the best teacher. Also make sure that you will invest only what you can afford to loose. Never invest all what you have you can diversify it or do the dollar cost averaging. Think so many times before investing so that you will not regret it what ever happens to your investment. Assess yourself if you will keep that investment for a long time or you just wanted to do a fast trading. The decision would still be depends upon you.

because most beginners also just go along with friends' suggestions or what they see on social media ads. they purchase assets at random for their investment. even using money from the needs they have.
the basic concept of investing, they will benefit if they choose the right assets and also have the patience to achieve their investment plans. many beginners think they want to get profits in a short time by investing in Bitcoin. and clearly it is the wrong owner.

Ricardo11

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Congratulations, you want to invest in Bitcoin without keeping money in the bank. If you invest long-term in Bitcoin now, you can get very rich from here. Investing in Bitcoin without keeping money in the bank will be the best decision of your life. Bitcoin is the best for investment. Nowadays many people are losing trust in banks. Because currently many banks are going bankrupt. But there is no possibility of Bitcoin going bankrupt. So many people are now investing in Bitcoin. The value of Bitcoin will increase significantly in 2025. In 2025 the value of Bitcoin will rise to around 100k. So instead of keeping your money in the bank, invest in Bitcoin now. You can achieve great success in this.

smile1218

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Quote from: synchronym on July 09, 2023, 12:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Before investing in Bitcoin make sure you have a thorough knowledge of what you will investing. If you are hesitant and you still don't understand your decision you try to invest in a small amount because actual trading could be the best teacher. Also make sure that you will invest only what you can afford to loose. Never invest all what you have you can diversify it or do the dollar cost averaging. Think so many times before investing so that you will not regret it what ever happens to your investment. Assess yourself if you will keep that investment for a long time or you just wanted to do a fast trading. The decision would still be depends upon you.

JoyMarsha

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Quote from: Outhue on July 09, 2023, 03:05:44 AM

I don't bother to keep any money in the banks again until I need fiat that I want to spend on something or buy food items, all I care about is eating food and investing my money that's why I invest almost all the money I made from my business into Bitcoin and few other crypto projects, I am fine with living this way, some food to keep living and make more money to invest for my own better future.

I strongly believe that this is one of the ways I can get things done in life, I decide to start and finish my own house in two years from now and I will be doing this with part of my investment, I am excited to see how this will turn out in two years time and mind you, if things go wrong I can always restart, it's part of life and mine is adventurous to me that's why I like doing this.

What I have observed regarding crypto investments is that when you have goals and desires related to crypto investment, you won't be afraid to risk everything on bitcoin and other crypto projects that fascinate you. You will continue to believe that what lies ahead for your crypto investment is worthwhile for you to take a risk now in order to achieve financial freedom. I can tell all this from what you said that you enjoy doing.

Since you have trained your mind to not be swayed by the price of bitcoin or other altcoins you want to invest in or have already invested in, I wouldn't suggest someone who lacks the mental fortitude to pursue the same action as you. Whether or not it will be financially advantageous for you or them.

Cookdata

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Quote from: synchronym on July 09, 2023, 12:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Are you familiar with Bitcoin or are you just hearing it but have not interacted with it? I will assume the former. Bangladesh^[1] is doing anything to get dollar to meet up with the volume of petrol the people are using in the country and there has been instability with the rate of export and this is why the dollar has become scarce but that amount you invested for a period of 5 years is too poor, I'm not a rookie but if you have invested that money in Bitcoin for every month to now, you will have been proud of yourself but better late than never.

Lets forget the past tence and discuss the presence, you can use your savings to buy Bitcoin but I wouldn't advice you to use everything. Divide the amount into half and buy Bitcoin and keep the rest pending the till the end of the year, if there is decrease in price prior to that period, use the rest to buy Bitcoin and if it never comes down, still buy because no matter what, you will make some money out of it because halving is the leverage that will protect you from losses for short term profit.

[1] https://www.reuters.com/world/asia-pacific/bangladesh-struggles-pay-fuel-imports-dollar-crisis-worsens-letters-2023-05-22/

summonerrk

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Quote from: synchronym on July 09, 2023, 12:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

With a serious approach, you will succeed with the right measure of self-discipline in investing. It is important to choose the moment of purchase. Let you have recently been on the forum, but I advise you to read and study the information in local trading topics, experienced people there will advise when it is better to buy bitcoin. After all, if you do not study the technical analysis of bitcoin charts, you can buy at an expensive price for the current moment, and after a while your deposit will decrease.

This is my guess:

For example, here is my forecast. You will see a description on the link. I will not duplicate it in translation. Translate it yourself from Russian, maybe it will be useful information for you.

https://bitcointalksearch.org/topic/m.62517470

Blitzboy

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Quote from: tjtonmoy on July 10, 2023, 03:16:39 PM

Quote from: synchronym on July 09, 2023, 12:33:02 AM

Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

The world is still not fiat less. Also, Bitcoin is not a currency that has been adopted around the world. And you are talking about Bangladesh. Mate, I am from Bangladesh too. I can understand your situation. But always be cautious. The current situation of banks is getting worse day by day. It will be no surprise if they file bankruptcy in 3-4 months. We are in a situation where we are unable to choose either side. Crypto will put you in trouble and you might get put into jail. Just owning cryptocurrency of any kind can lead to this situation. So you need to keep your privacy safe first.

Then there's the problem of bankruptcy. If you withdraw the money from the bank, you may keep them safe to yourself. But the value will decrease over time due to inflation or other events.

What we can do in this situation is to keep both as an option. Divide your assets into multiple sections. Invest in multiple places. Land, metals (gold/silver), other businesses, etc. Keep some assets in fiat. This will help you in emergency situations. Also, you can find more opportunities and invest in them later on.

Lastly, the most important thing. Are the money you are willing to invest something that you can afford to lose? If that's not the case, then don't do it.

The cryptocurrency revolution hasnt taken off yet, but it is. See Bitcoin. From nothing to a big name, it inspires amazement and mistrust. Its our future. Bitcoin and other cryptos can replace existing banking institutions should they fail. VPNs and digital wallets protect privacy. Smart transaction timing is crucial.

Crypto, like everything else, has hazards. You're right: diversifying investments is the key. Invest in tangible things, cryptos, and fiat for emergencies. Balance your portfolio. Finally, never invest more than you can lose. That wisdom is timeless.

Dzwaafu11

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Quote from: synchronym on July 09, 2023, 12:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here.

You said trading while also wanting to invest your money here; are you talking about the same amount of money, or do you want to divide the money you have into two, one for trading bitcoin and one for investing in bitcoin? Because, dude, trading bitcoin and investing in bitcoin are not the same thing. I believe you should focus on one; however, investing in bitcoin is a great thing if you are willing to take the risk that generally comes with the investment; nevertheless, before investing, you should do more study about what you are going to put your money into for your piece of mind.

Quote

I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

I don't think it's appropriate to counsel you on what to do with your money, whether to invest it in bitcoin or use it in another way, so because you indicated before that you've been involved with bitcoin for a long time, I believe you'll be the one to determine whether to invest or not.

ImThour

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I would go with 30% of my fiat money in Bitcoin and rest in real fiat as you might need it real emergency. Bitcoin is a great investment however for that, you need to think a bit for long term. It's not a shortcut to tackle the high interest rates and low value of your fiat around the world, it's more than that. There are companies accepting Bitcoin and the Binance Card allows you to spend money on VISA accepted platforms with Crypto/Bitcoin. If it's not yet there in your country, I wouldn't recommend keeping more Bitcoin as compared to Fiat.

pawanjain

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Quote from: khiholangkang on July 10, 2023, 10:05:26 AM

Quote from: pawanjain on July 09, 2023, 02:11:11 AM

Quote from: synchronym on July 09, 2023, 12:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Given your situation, I would be more likely to diversify my portfolio into bitcoin, fiat, gold and bonds.
Bitcoin might give better returns but depending on the availability in your country you may or may not be able to encash it at the right time.
Gold might give decent returns and you will be able to encash it since it can be easily sold at shops and so it will help you in case of any emergency.
You can hold some fiat cash with you so that you don't face any liquidity crisis and can plan things out accordingly.
You can hold bonds in case the banks go bankrupt then bond holders will still be on the safer side.

If I were you then I would divide my portfolio in below criteria
Bitcoin - 30%
Gold - 30%
Bonds - 20%
Fiat cash - 20%
snip

With the amount of $ 1800 in my opinion too small to be diversified, let alone divide it into 4 parts it will make the assets a little, for example as in Bitcoin, he will only save it $ 540, in my opinion it is too small in the investment scale. It is better for him to keep it all in Bitcoin by using a DCA strategy, for example 10% or $ 180 per month which in my opinion is safer and more likely to benefit, moreover we will see Bitcoin Halving, of course the potential is greater, after all it's a savings fund that he might not be too requires it for short -range needs except the situation it has the opposite.

I have laid out a general portfolio distribution and it depends on OP how he has to invest his savings.
In OP's case I would rather advice him to invest in bitcoin or gold or may be equally in both.
Since he mentioned a ~~dollar~~ fiat crisis in his country he should have some plan to liquidate his asset in case of emergency.
Gold will be a suitable option in that case.

blackened515

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Quote from: hannahB4 on July 10, 2023, 03:50:55 PM

Like you said your savings is what you wanted to invest in Bitcoin but my question is if you have another source of income from these savings because you can't invest all your savings without having a stream of another income, if yes you can happily and rejoicingly invest your money waiting for your investment to grow.

Knowledge is power, there are other things to invest in apart from bitcoin, it's not necessary that we should invest our money in cryptocurrency. Investing all your personal saving in bitcoin, is definitely not a good decision and not advisable as a trader, bitcoin fluctuate alot in the market, we have volatility everywhere specifically in the bear season. I can only boldly invest in bitcoin when I'm certain about the hugh sums in my bank accounts and established businesses. It's always good to have multiple streams of incomes,

Topic: My personal savings now I will invest in Bitcoin - page 3. (Read 871 times)