If you can make ends meet with 50% of your monthly salary, you can allocate that 50% to invest in bitcoin.
But most people will find it difficult if they do it, especially people who are already married because of the many necessities of life that they must prioritize first.
I only use 20% -30% of my salary to invest in bitcoin and if there is free money at the end of the month that I don't use, I use it to increase my bitcoin investment.
Investing in bitcoin is how you manage the amount you use each month without interfering with allocating funds to other needs.
Topic: Precisely or erroneous - page 2. (Read 293 times)
people are tempted by the sweetness of investments that can be profitable without knowing the losses they can receive. But there's really nothing wrong with setting aside some money to invest in bitcoin because, as many people know, bitcoin is very profitable and hunted by many people even though the price is dropping. So think carefully about the actions you are taking now so you don't regret it in the future.
It would be a bad idea if your investment was emotional or based on the rule that Bitcoin will always rise without you having a clear plan for when you will invest, how and when you will sell, unless you plan to invest for the long term and consider that the value of your investment is zero, then you will make profits anyway if you wait For several years, but putting 50% of the salary is not a wise idea.
Think, learn and invest only the extra money that you do not need.
Think, learn and invest only the extra money that you do not need.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
As the latest news shows - any bank can freeze your funds, so I have always not considered the option of keeping money there. And deposits do not have time to overtake inflation with their profitability. Therefore, you made the absolutely right decision to invest in cryptocurrencies. I understand that you can't devote even half a day to trading, or studying new altcoins, so I advise you to invest most of your income in Bitcoin. This is a truly reliable investment.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
Banks aren't really a place of investments, they do offer investments like bonds and time deposits but the percentage of profit isn't expected to give that much satisfaction for someone who's looking for greater interest rates.I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
If you're for saving, the banks are the way but the value of your deposit will sooner or later be lower in value due to inflation. Before you commit of 50% of your monthly salary and buy it with bitcoin, look at your situation if it's doable as you're the only one who can tell that if it's possible or not.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
It sounds made up to me because of what I have put in bold. Unless you mean it's harder to spend the money you have in bitcoin, which I could understand, but I don't think there's much difference, because if you can buy bitcoin, you can exchange bitcoin to fiat in the same way, using the same method but in reverse.
On the other hand, if you can save 50%, it means that you are paid very well and/or have few expenses, but I would always keep something in fiat anyway, the absolute minimum one month of expenses, although it is always recommended between 3 and 6. Once you have that, you can put everything you have left over into bitcoin.
I hope what am doing isn't a bad idea for not saving funds?
I think you only want to say you prefer to hodl your money in bitcoin because I don't see any reason you give not to keep money in fiat bank only that it is difficult for you to do but excuse like third party withdrawal or deposit process would have been a good excuse. So you only saying you hodl your money in bitcoin. For knowledge sake, hodling money in bitcoin is more like investment because of the volatility and risk attached to hodling and not like fiat which is more of savings for some needs.
Investment in bitcoin is not the same with saving of fiat and on the long run if all things were good, the government use the savings for provision of social amenities as investment, so it is also important and good to make such money available through savings.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
There is nothing wrong with investing in bitcoin, but I think you should still have some savings in the bank as it will help you in life emergencies. Because investment is not always profitable, and in particular, bitcoin is an extremely risky investment. I don't care how much you invest in bitcoin, but I want to remind you, investing in bitcoin is very risky, and you should only invest the money that you can lose. Don't just greedily look at the profit it will bring us but forget the risks we face.
It is not entirely clear why fiat prevents you from having a savings account; if you manage your finances wisely, you can do this with fiat.
It is better to have good management and not investing all on an asset, but fiat differs from fiat. Like in my country, I do not have confidence in naira (our local currency), it depreciates over time more than expected, that leaves me no option than to not save in naira, although I still go for dollar backed stable coins because of naira depreciation. Yet in last year, as worse as naira was to us as it continued to devalue as usual, it is still better than many other fiat as inflation hit more countries more and they devalue their money more than anything. 
I hope what am doing isn't a bad idea for not saving funds?
Only you know what your spending and responsibilities are, not us. So we really can't say for sure if this is a good idea or a bad one. Just make sure you wouldn't be in a bad spot if bitcoin decides to drop down to lower levels.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
Is the other 50% enough to meet your needs during the time you get your salary back? in terms of investment you also have to calculate well because you will feel a loss if you sell bitcoin when the purchase price is higher and your situation is urgently needed to sell your bitcoins, I suggest you divide and you are more detailed about how much your expenses are for one month and prepare funds emergency so you will find out what percentage of money you will put into bitcoin, I don't blame what you are doing but it would be nice if you have good arrangements for your financial and mental stability because bitcoin is quite volatile. I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
It is not entirely clear why fiat prevents you from having a savings account; if you manage your finances wisely, you can do this with fiat.
By saving half of your earnings in bitcoin, you take a decent risk, as you obviously hope to make regular profits, but this is not the case. At some point, you may be the loser, as bitcoin is volatile and no one knows the dates of its rise or fall.
I prefer to set aside 10% of the budget for investments, 60% of the budget for the necessary things for life, including food and rent, and 30% for entertainment, because I don’t think it’s reasonable to deny yourself in today’s life, hoping for tomorrow.
By saving half of your earnings in bitcoin, you take a decent risk, as you obviously hope to make regular profits, but this is not the case. At some point, you may be the loser, as bitcoin is volatile and no one knows the dates of its rise or fall.
I prefer to set aside 10% of the budget for investments, 60% of the budget for the necessary things for life, including food and rent, and 30% for entertainment, because I don’t think it’s reasonable to deny yourself in today’s life, hoping for tomorrow.
Saving in bitcoin provides advantages that fiat saving cannot and I would say you are in the right track to save on it. But just like Charles-Tim said, do not look only at saving bitcoin just to earn profits because that would cause you to sell off easily when a dump starts to happen. Rather you should look at saving in bitcoin as a store of value that hedges against inflation and your money will remain same no matter how long it takes.
Again I don’t know how much you earn but 50% off your salary is too big if your salary is your only source of income. Try to save maybe 20 to 30% and hold the rest in fiat so they could be use for emergency purposes rather than running to your bitcoin savings when you’re faced with an emergency.
Again I don’t know how much you earn but 50% off your salary is too big if your salary is your only source of income. Try to save maybe 20 to 30% and hold the rest in fiat so they could be use for emergency purposes rather than running to your bitcoin savings when you’re faced with an emergency.
Not a problem if you know that bitcoin can decrease even below $20000 again, but believing that all-time-high is what would be the later result. Accumulating bitcoin for now is good, but if you see any decrease in the price, do not sell but wait until the price rise again.
I don't know if this is were I can post this fleece, but if this is not supposed to be here someone should help me moved it to the normal board.
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
I work in a construction company that construct most of prominent contract for some oil and gas companies but one thing here is that I always find it more difficult to save money in a fiat bank, why because to me is a total waist because it's not giving me any profits. I prefer investing 50% of my monthly salary on bitcoin, mostly now that every body on this forum is holding their coins. I hope what am doing isn't a bad idea for not saving funds?
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