Topic: My personal savings now I will invest in Bitcoin - page 4. (Read 818 times)
I think it's a fantastic idea that you want to invest in Bitcoin instead of leaving it in your bank, it's the same in my country, the quality of banks is mediocre, and basically keeping money in a bank where I live is a waste of money. . . That is why I also opted for BItcoin, it seemed like a way to make my money work in the long term, however I see Bitcoin as an investment method while if I want to save money so that it does not devalue, I do it in USDT, it seems another way to me safer option than a bank... on the other hand, if you plan to invest all your money in Bitcoin, I would not recommend it very much, leaving all your hopes pinned on an investment is not a good idea... You know what they say, no you should put all your eggs in one basket
hero member
Activity: 2646
Merit: 651
Want top-notch marketing for your project, Hire me
I would keep half between cash and the bank for emergencies, say $500 in cash at home, $500 in the bank and the other $800 in bitcoin, but keep in mind that it is very volatile and count on not using it for a long time. Over time, if you save more, you can buy more bitcoin little by little, following a strategy known as DCA.
While I am agreed about we must have cash and have bitcoin but putting funds in bank for cryptonians like us is a big no no, the reason why we are in bitcoin investing is for not having a 3rd party interference so what about that banking ?and also instead of telling to have some in banks? better to have it as cash than entrusting your money in bankers.
Yes, it's a big no for every BTC investor to keep funds in the bank but everybody has the way she maintains her risk management.
I would keep half between cash and the bank for emergencies, say $500 in cash at home, $500 in the bank and the other $800 in bitcoin, but keep in mind that it is very volatile and count on not using it for a long time. Over time, if you save more, you can buy more bitcoin little by little, following a strategy known as DCA.
While I am agreed about we must have cash and have bitcoin but putting funds in bank for cryptonians like us is a big no no, the reason why we are in bitcoin investing is for not having a 3rd party interference so what about that banking ?and also instead of telling to have some in banks? better to have it as cash than entrusting your money in bankers.
Quote
Always think before you invest to have 3 to 6 months of emergency expenses saved. Then you can invest. Otherwise you may be forced to unwind your investment (sell) if you need the money in the middle of a bear market at a loss.
even a whole year expenses that is the reason that people needs to have their money on hand always ready and only spare money will be for crypto investments.
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.
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.
If your life savings are not at stake, you have the freedom to invest in Bitcoin. However, it is crucial to conduct thorough research on your own. It is widely known that Bitcoin investments come with inherent risks, and it is important for you to be well aware of them. Bitcoin is a highly volatile cryptocurrency, and it may take a considerable amount of time before you can see profits from your investment. Furthermore, it does not guarantee financial gains; there is also a possibility of losses. Therefore, it is essential to be mentally prepared and invest only what you can afford to lose.
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
Way to go actually! Really pays you to listen to the news sometimes. In any case I'd highly suggest you liquidate some of that money you got into your emergency funds if you have any, and then the rest can be saved into bitcoin. That way you'd have money you can play around with should things worsen in Bangladesh without having to touch your bitcoin investments yeah? I'm thinking you should also look into investing into other forms of assets like real estate, that way you can diversify your portfolio and maximize your profits while minimizing your potential losses. As we all know bitcoin's great for long-term investment but if you're looking into short-term profits it's not really the best one out there no thanks to its high volatility rate, so following these advices will surely give you the best chance at claiming profits even if Bangladesh's situation worsens.
Do not place all your wealth in one place if you intend to invest. Bitcoin has the potential to bring profits in the future, given the possibility of price increases. Surely you have considered that there are many inexperienced individuals who have tried investing in Bitcoin and suffered losses.
I would highly recommend you to allocate a portion of your wealth to Bitcoin. As for your other assets, you can invest them in other options such as gold, which has proven to be resilient against inflation since ancient times. Alternatively, you can also invest in stocks while considering your risk profile.
I would highly recommend you to allocate a portion of your wealth to Bitcoin. As for your other assets, you can invest them in other options such as gold, which has proven to be resilient against inflation since ancient times. Alternatively, you can also invest in stocks while considering your risk profile.
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
Great thinking. Bitcoin investment is more profitable i think. You want to invest on Bitcoin it will best decision there has no doubt. Your DPS will be matured within this month and you want to invest on bitcoin it is best decision i thinl. Because in your country bitcoin is still illegal. And you could not trust on your local bank. So overall considering my advice Bitcoin investment is better for you. And i think your Invest on Bitcoin is appropriate. I think it will be best use of your money. 
I have been involved with Bitcoin for a long time but am still thinking about investing here.
You have been involved in bitcoin for a period of time and that means you have been investing in bitcoin all these while. And you are yet to invest. One thing you have to know is, you can't invest bitcoin here. There is no investing board here. You can only ask for advise to invest and not to invest here. And it is not Bangladesh that have that inflation problem. Though I don't know the Bangladesh currency exchange rate with dollar if not other countries are also having the same problem. 
I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank.
Bangladesh is a poor country just like my country and you say $1,800 isn't much? Really?Quote
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
Investing into Bitcoin at a time like this will be a great decision you will be making. Apart from the fact that the market is expectant of a bull rally soon (that's if we aren't in it already) because of Bitcoin halving next year, putting it in it serves as an anti-inflation strategy. Cash poured into Bitcoin never loses its value.
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 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
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.
Due to the reason mentioned above I would avoid letting my money invested at local banks at all costs! During instability times we have to make sure our money is in our hands, and that is something Bitcoin can assure you when you hold your coins inside a custodial wallet.I think your decision to invest in BTC is right, but you have to make sure it's going to be a long term investment. Don't invest money you are going to need in some months or in a year. Keep in mind Bitcoin is heavily volatile and this volatility can push the price downside for long periods of time (bear market), therefore it's not suggested you cashout your funds meanwhile.
depositing money in banks is just like for safe keeping. you will barely get an interest on this. better put your money in other investments that will give you better dividends. but if the OP will decide to buy btc, he should know the risks involved since he's not new in this market. gaining profits is a possibility but not a guarantee because it depends on when he will sell off his satoshis.
if i am the OP, i will allot some funds on a tangible asset like jewelry and then some in crypto. it is better to have a back up asset rather than investing all in btc.
That's the negative side of saving your money. After years of saving, the real worth of your money is lesser due to inflation. Even the interest rates of the banks are just way too small to offset inflation, especially for a country that has a struggling economy and you just mentioned that Bangladesh is facing financial problems.
Just like you, I also wish I knew bitcoin as early as possible. But there is no such thing as late in bitcoin these days. We're still in a bearish market and we are expecting it to recover starting next year.
Just like you, I also wish I knew bitcoin as early as possible. But there is no such thing as late in bitcoin these days. We're still in a bearish market and we are expecting it to recover starting next year.
I still don't understand if my decision is right, please let me know your opinion
Investing in Bitcoin is one option to take but never I say you should. Why? Because considering your situation. you still have doubts and less experience and these are the factors that you will fail and lose your savings. I suggest studying more about crypto and making a decision with all of your heart and no doubts because it was hard if there are uncertainties in you. You can't live peacefully and keep bothered especially when you will see red on the market. Only invest when you are totally ready and are willing to understand the volatile nature of the market. 
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
Since you have decided to invest in Bitcoin, you should withdraw your DPS money very quickly and invest it in Bitcoin instead of depositing it in the bank. I am also a resident of Bangladesh and I am aware of the poor condition of the banking system in Bangladesh and any time your money may be declared bankrupt by the government. If you invest your $1800 in bitcoin and save it for five years in the future, I can say for sure that you will get your $1800 profit in about five days. But without further delay, you can contact the bank and withdraw your DPS money as soon as possible. 
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
Pursue your decision because that’s the best thing to do when fiat is struggling to achieve its high value. However, my only advice is to never put money in an investment that you cannot manage to lose because once it’s lose, it will always be considered a permanent loss. That is why only invest at a small amount at first and once your principal amount has compounded, then start to adjust and increase your position to achieve higher returns. 
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 $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion
It's a good opportunity while the market price of Bitcoin still didn't skyrocket, there is still a lot of time before the bitcoin halving meaning you could still accumulate bitcoin for a good profit in the Bullrun. If you're going to check the history timeline of bitcoin every halving you could easily notice that the market price every time after the Bitcoin halving event always skyrockets. I mean you don't really need to invest a big amount of money when you're going to start if your dollar cost average to lower your risk of losing your money, 100$ or even lower might be a good amount for starting and then you could just accumulate just like saving your salary or your money but the only thing is your putting it on Bitcoin for a potential profit compared to saving that has a very low interest.
Start your journey since you already have a lot of knowledge of cryptocurrency you already know what you're going to do, also you have this forum that you easily help you if you encounter some problems.
For five years you have painstakingly deposited some money in your deposit account every month and now you are relying on Bitcoin without relying on the bank, that means you must have gained enough knowledge about investing in Bitcoin. Since you have earned this wealth for five years, you should have invested half of your net worth in Bitcoin and the other half in a savings account. Because if you lose by investing, you will get good support from the saved money in the future because after you invest in bitcoin, if the price of bitcoin falls a bit, you will not be able to sell bitcoin anymore, so 50% investment might be a good decision for you.
Jump to: