What do you mean by personal savings? I believe part of your savings is what you should use to invest in Bitcoin, not all your savings.
If this is what you do I hope you understand the risk, your personal savings can go way down like 30% and I do hope that won't make you get worried.
The best advice is invest what you can afford to lose, let's not pretend as if Bitcoin investment is risk-free, the risks are still here because Bitcoin is created in a way that the price can't ever be stable.
Topic: My personal savings now I will invest in Bitcoin - page 5. (Read 818 times)
The cryptocurrency market is really fluctuating for a long period of time, which the Bear market is going to be close and enter Bull Run market, which every one has to seat up by investing Bitcoin and hold for a long term, in other words nobody knows actual time Bull run market is going start, but is a good idea to make some shavings by investing on Bitcoin and hold in the wallet that is going give more profitable business than leaving you're hard earned money in the bank, that is not going to yields any interest, but rather bank will be taken transaction and ATM maintenance change fee's and money Keep depreciating, as a wise person and is a right decision to invest in Bitcoin as the crypto market is down.
Glad to hear you decided to save money in Bitcoin after going through a long process. If 5 years ago you had started saving money in Bitcoin instead of in a bank, I'm sure you would have gotten more profit after seeing the price now. The increasingly difficult economic conditions require you to be more careful in choosing a place to save your money, at this time a bank is definitely not the right place. Withdraw all the money in the bank and then start saving it in the form of Bitcoin, you must be sure of the potential stored behind Bitcoin. Banks may go bankrupt, but Bitcoin will grow in the future.
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
I did a quick google search, and it seems like Bitcoin is considered illegal in your country.Though there are ways to prevent from getting sued by the government while you're secretly trading in Bangladesh since there are a few exchanges that works in their country, but this will add to the risks bitcoin already has.
So, the best advice for the OP is to just put like 50%-60% of his money to bitcoin and keep the rest for emergency purposes.
That would be the least risky move I've come to think of so far.
It's kinda difficult to get caught trading crypto in a country where it's deemed illegal.
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
I did a quick google search, and it seems like Bitcoin is considered illegal in your country.Are you sure about your decision? Are you sure that you are willing to risk your life, your savings, and everything just because you want to invest into something that's considered illegal to your country?
I'm not encouraging you to invest into Bitcoin especially if it's banned. It would be better if you will just invest it into other assets like the Stock Market or Bonds if you want. Yes Bitcoin can give you higher profits in the long term, but the risk, the feeling of getting anxious, the feeling of always thinking "what if I will get caught that I have Bitcoins?". Those mixed feelings might affect your whole life. I know that the economic condition in your country seems bad because of several reasons, but it would be better if you will just spend that money, and go live outside your country if you really want to invest. If you believe that you can still get a job even you live outside Bangladesh then do it.
I just hope you a good health in the end.
I think you have to think about it carefully before you buy bitcoin because in my opinion investing in btc is something risky, but if you are ready with the risk of investing in btc, I think you can start buying btc and use the dca system in purchases.
but I think you also have to think about your needs and your interests in living this life, so I think you can buy btc but only half of your savings, but in this case the decision is yours. I hope your investment in BTC goes smoothly and I hope you get big profits.
but I think you also have to think about your needs and your interests in living this life, so I think you can buy btc but only half of your savings, but in this case the decision is yours. I hope your investment in BTC goes smoothly and I hope you get big profits.
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.
Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.He knows about bitcoin doesn't mean he understands all about it if he has never learned about bitcoin before, but when he was interested in it, and now he wants to invest. Like many people in the past, when they first heard about bitcoin, they ignored it, but after many times, they started to learn and invest in bitcoin.
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
Honestly, the recent collapse of US banks is worrisome for their economy, but that doesn't mean other countries' banks will collapse as well. I have not seen a bank in my country go bankrupt. We should invest in bitcoin for the profit and benefits it brings but also should not speak ill of banks, it also does not make bitcoin better. Banking will still be an integral part of our lives, and we will still use it in our lives, whether we like it or not.
with economic conditions that are not good, we have to be careful in investing if you have $ 1800 in the next 5 months, my advice is that you have to divide the money so that during an emergency you can use your money
let's say 50% of you save it in the form of bitcoin
25% in fiat that you save in savings
Another 25% you invest in gold bullion
maybe my advice is not so good but i would do it if i had money like you
let's say 50% of you save it in the form of bitcoin
25% in fiat that you save in savings
Another 25% you invest in gold bullion
maybe my advice is not so good but i would do it if i had money like you
I think investing in bitcoin is more suitable than you collecting money for 5 years and if you look at it without interest, while inflation continues to increase. but before you invest in bitcoin, I think it is necessary to study it first, after that you can determine the feasibility of investing in bitcoin, don't just be tempted by other people's stories about bitcoin, but we ourselves must understand, before investing
Its commendable that you're looking beyond the Bangladeshi economy for investment prospects. Bitcoin, being decentralized, is immune to the economic woes of any single nation. Because of this, it seems like a good choice for you.
You are making a forward-thinking move by putting $1800 into Bitcoin. More and more people are starting to believe that cryptocurrencies like Bitcoin and Ethereum can provide superior returns to more traditional investment vehicles. However, one cannot ignore Bitcoin's extreme volatility.
Always keep an eye on the market and only invest what you can afford to lose. Its going to be a bumpy road, but the payoff for sticking with it could be great. Bitcoin is a promising new frontier, and I applaud your guts for diving in headfirst.
You are making a forward-thinking move by putting $1800 into Bitcoin. More and more people are starting to believe that cryptocurrencies like Bitcoin and Ethereum can provide superior returns to more traditional investment vehicles. However, one cannot ignore Bitcoin's extreme volatility.
Always keep an eye on the market and only invest what you can afford to lose. Its going to be a bumpy road, but the payoff for sticking with it could be great. Bitcoin is a promising new frontier, and I applaud your guts for diving in headfirst.
Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.
Its good that OP has finally decided to invest in Bitcoin despite the fact that he knows about Bitcoin for a long time, "better late than never.". There are many people who knows about Bitcoin but feat to invest in Bitcoin because of different reasons. Overcoming your fear to invest in Bitcoin is biggest challenge in Bitcoin investment. The sooner you overcome your inner fear, better it is.
Lots of banks are going bankrupt in different countries, so it’s better you know the amount which you will be leaving in bank, since you have been hearing about bitcoin for a long time then why don’t you just invest in bitcoin? Bitcoin investment is really a nice idea but I won’t recommend you invest all the $1800 in bitcoin, make sure you split the money and invest some part in bitcoin, you don’t have to invest all your savings in bitcoin, don’t invest any amount that can hurt you if you lose in bitcoin, and when investing you should be ready to hold your bitcoin for long term.
"Invest as much as you can afford to loose". 1800 USD is almost equal to 2 million Bangladeshi Taka which is quite a money. Since OP is investing for the first time, its better he invest only some part of it to get necessary experience and knowledge.
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.
Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.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
I only put half of my personal savings in Bitcoin but I withdraw them all in bank and instead Keep paper money in me because I consider Bank as a robber lol.
Bitcoin is the best place to invest our money .
Bitcoin is the best place to invest our money .
You made the right decision. Welcome to Bitcoin Investment. You saved $30 every month for five years which was a great initiative. You now want to invest in Bitcoin for fear of bank failure. It is true that you are not getting any benefit from keeping money in the bank. In that case you can make profit by trading in Bitcoin? You must be a good trader for that. The Bitcoin market is very volatile which we are aware of. If you lose money investing in bitcoins, are there alternative ways to recover your losses? As the economic condition of your country is not very good. In that case, I think it would be better to withdraw money from the bank and invest in bitcoins.
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
While investing in a coin that's historically shown to appreciate in value like bitcoin is always a wise decision, I wouldn't really go so far as to say that you should bust your whole savings in it cause at the end of the day, you need money for when the rainy days come and bitcoin wouldn't be so secure for that. At least invest half of it on bitcoin and keep the rest as part of your emergency funds, that way you can ensure that you don't scramble around looking for money when shit hits the fan, and you still get to be part of the bitcoin train at the same time. The recent debacle against banks stray the people's attention away from the fact that saving is still just as important as investing, if you only invest and didn't save you wouldn't have gone anywhere, if you only save without investing your going to have useless bags of money lying around in the future. A little bit of everything is just perfect.
If we no longer trust the bank after the recent failures, we can also save by keeping cash instead of depositing it in the bank. Whether the bank collapses or inflation eats away at our money, we should have some savings, it's a must for everyone because life is full of surprises. If we do not prepare in advance, we will fall into a deadlock.
I really oppose those who are propagating that not to keep fiat money but to invest bitcoin all their money to avoid inflation, currency devaluation...Instead, we should balance investment and savings, not put all the money in the bank, and not invest all of it in bitcoin because everything is risky, and we need to manage the risk for ourselves.
I still don't understand if my decision is right, please let me know your opinion
if you have been involved with Bitcoin for a long time then you must have realized the potential and risks right?. i think investing into Bitcoin is a good plan but i can't say whether it's the right decision or not for you it depends on your way.$1800 is a lot in my opinion so don't just put it all into Bitcoin it's better if you diversify into some other assets too. you can also start investing by DCA.
divide your money wisely and don't forget to save it for an emergency fund too. then also remember your original plan to save your money in the bank for 5 years what was it for? surely you have the original goal, why did you save your money for 5 years right?.
As we all know, this is a good thing to do if you can afford losing that amount if anything bad happens. Ofcourse investing would be profitable but risk will as well be present due to market price vplatility and also with issues concerning adoption and usage of this blockchain.
You are right my friend, investing in bitcoin in times of crisis is not the best solution. Because we won't be able to tell if bitcoin will go up or down more in the near future, and if the crisis in his country gets worse. He needs money to live, then selling the low price of bitcoin only exacerbates his crisis. Bitcoin is a highly volatile and high-risk investment, it cannot be a safe haven to store value in times of crisis. If OP bought bitcoin for $50k, what if he needs money for life now when bitcoin price is only trading at $30k?
If this technologt is not restricted in their country, then this would be a valid option. It also depends on what crisis is present; if it is regarding currency pullback then converting his money would be a good idea. But if it is difficulty surviving daily, then it is not 'coz in times of necessity and urgency, there might be troubles pulling your investments out especially if the price is still down at that moment.
I think Op should be focused on the recent economic crisis happening in his country and hold his money for tougher days. Bitcoin price may not be favourable to him at a time like this. Which could cause him more harm if he losses his savings. Patience is the key, when he is sure of his moves not becoming a hindrance to his financial economy in future, he can invest in bitcoin, with lesser fear or doubts in him.
You are right my friend, investing in bitcoin in times of crisis is not the best solution. Because we won't be able to tell if bitcoin will go up or down more in the near future, and if the crisis in his country gets worse. He needs money to live, then selling the low price of bitcoin only exacerbates his crisis. Bitcoin is a highly volatile and high-risk investment, it cannot be a safe haven to store value in times of crisis. If OP bought bitcoin for $50k, what if he needs money for life now when bitcoin price is only trading at $30k?
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
At the current market situation of Bitcoin and the possibility of an uptrend after the block halving event next year, I think that investing in Bitcoin today is a smart move. Thinking that after the block halving the price of BTC surge then it is an obvious situation that anyone who will invest today have a huge possibility to get profit especially when Bitcoin breaks it ATH again.
So based on the pattern of the Bitcoin price market, I think your decision is right in investing your funds to Bitcoin.
I think Op should be focused on the recent economic crisis happening in his country and hold his money for tougher days. Bitcoin price may not be favourable to him at a time like this. Which could cause him more harm if he losses his savings. Patience is the key, when he is sure of his moves not becoming a hindrance to his financial economy in future, he can invest in bitcoin, with lesser fear or doubts in him.
You are right my friend, investing in bitcoin in times of crisis is not the best solution. Because we won't be able to tell if bitcoin will go up or down more in the near future, and if the crisis in his country gets worse. He needs money to live, then selling the low price of bitcoin only exacerbates his crisis. Bitcoin is a highly volatile and high-risk investment, it cannot be a safe haven to store value in times of crisis. If OP bought bitcoin for $50k, what if he needs money for life now when bitcoin price is only trading at $30k?
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.
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