Should I invest in cryptocurrency or start my business? - page 3.

suzanne5223

hero member

Activity: 2660

Merit: 651

Want top-notch marketing for your project, Hire me

Quote from: Maaz Sultan on December 10, 2022, 02:51:01 PM

It all depends upon you if you have the skills and knowledge about cryptocurrencies go with cryptocurrencies. But my suggestion is that only invest in cryptocurrencies if you have spare money in banks that you won't need to use on daily bases. And if you know business very well so it is wise to invest in business. You can do cryptocurrencies as side business.

Yes, people should always invest the amount they can afford to lose in cryptocurrency but Maaz Sultan there's no skill needed to invest in crypto what is needed is only knowledge.
I think the OP wants to be greedy, I believe her plan was to buy a whole BTC and if she still reading this I will advise her to both ^{start the business and buy some fraction of BTC when she has some spare money she can DCA on Bitcoin}.

poldanmig

sr. member

Activity: 1372

Merit: 275

Quote from: Maaz Sultan on December 10, 2022, 02:51:01 PM

It all depends upon you if you have the skills and knowledge about cryptocurrencies go with cryptocurrencies. But my suggestion is that only invest in cryptocurrencies if you have spare money in banks that you won't need to use on daily bases. And if you know business very well so it is wise to invest in business. You can do cryptocurrencies as side business.

We have to rely on cryptocurrency investment for a side business from spare money to focus on long term investment, but we can focus on the main business developed from your talent and I choose another investment business in gold and stocks, I think both choose passive income if we have it in long term investment.

Spontaneous

member

Activity: 130

Merit: 28

OP, I know it's hard to decide since both is involving value, but if you think you can afford it them both will just do it . But still you're decision would be matter on yours.

decodx

hero member

Activity: 1456

Merit: 940

🇺🇦 Glory to Ukraine!

Quote from: Getmon on December 10, 2022, 05:14:46 AM

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Well, what works for someone else might not be a good choice for you, so I don't think there is no one-size-fits-all answer to this question, as the decision to invest in cryptocurrency or start a business depends on a number of factors. Investing in crypto is risky, and you could lose your entire investment. If the value of a cryptocurrency rises significantly then you stand to make a profit. Starting a business on the other hand takes time, effort and money. There's also the possibility of losing money if sales don't meet expectations or if competitors arise. Starting a business takes work on your part, but it also puts you in control of your success. Is it possible to achieve financial freedom from an investment in cryptocurrency? Yes, theoretically it's possible. But the world of cryptocurrencies and businesses are changing fast, and it's difficult to predict the future of one or the other. It's hard to say which will be more profitable in the long run. There are pros and cons to each route and your choice will probably be shaped by your subjective decision.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

Quote from: Getmon on December 10, 2022, 05:14:46 AM

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Well in cases that you really need a somehow reliable source of income, I would say just do it in your own business venture though it will depend on the urgency on need of money. Business really do take time to build and I even recall my clothing business back then going slow and I was posting a lot of it in Facebook and getting no attention, but then it started out slow that I marketed it to few people starting from my social circle then going large to having a returning customer and you know the rest...

If the business you are building is really your interest, then you might need to focus more on that rather than investing it to crypto. Crypto will always have one of these days anyway.

Maaz Sultan

jr. member

Activity: 140

Merit: 1

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

It all depends upon you if you have the skills and knowledge about cryptocurrencies go with cryptocurrencies. But my suggestion is that only invest in cryptocurrencies if you have spare money in banks that you won't need to use on daily bases. And if you know business very well so it is wise to invest in business. You can do cryptocurrencies as side business.

Woodie

hero member

Activity: 1834

Merit: 879

Rollbit.com ⚔️Crypto Futures

There are two things involved here, firstly you need to understand that if you choose to invest in crypto you won't recoup your investments immediately its a long term commitment and you have to go in wholeheartedly while choosing to open up your own business means extra resources and your profits should start paying back immediately you are setup, so it's all about how risk hungry you are but to play it safe go with the business then from the profits invest little by little into some crypto.. Win-win.

Yamifoud

hero member

Activity: 2828

Merit: 518

Quote from: Getmon on December 10, 2022, 05:14:46 AM

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Perhaps, doing business is even more profitable compared to Bitcoin if you could get the need and demands of the people around you. It is indeed risky and needs more time and effort, unlike just investing in Bitcoin that we just hold and wait for the right time to sell but if we believe this is our passion, we'd rather choose this option.
But if we think we can carry all the risk and can dear to face the challenge, then taking them both is not hard. Some people did this and the are multiplying their money fast.

Getmon

sr. member

Activity: 1400

Merit: 273

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Terezi

newbie

Activity: 16

Merit: 0

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

You can do both investment and business, invest in cryptocurrency with a small part of the money, and start a business with the rest of the money for diversified income.
Investing in cryptocurrencies is always risky and requires investing time in understanding the crypto market and learning about investing. If you start investing in cryptocurrencies, it is recommended to start by investing in Bitcoin. It is the most trustworthy and valuable cryptocurrency, and long-term holding can make profits.

ice18

hero member

Activity: 2492

Merit: 542

I suggest to start your own business first less risky than entering crypto if you have no enough knowledge, later if your business became successful then you can allocate a percentage of your profit and start investing in crypto, both have advantages but business has a sure potential income if you can run it smoothly.

Alpha Marine

sr. member

Activity: 686

Merit: 332

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

I don't think these are questions someone else can answer for you. You know what you want more than anyone else. There are questions only you have to answer in order to know which decisions to make.

NdaMk

full member

Activity: 303

Merit: 136

Defend Bitcoin and its PoW: bitcoincleanup.com

You should diversify your investment portfolio by investing in a business and also in cryptocurrency, specifically BTC. It is better to diversify your sources of income because it reduces the possibility of loss or risk. Your business can be a source of daily income for you, while cryptocurrency can be kept as a long-term investment from which you will benefit later.

However, don't set expectations for what your cryptocurrency wealth will become, as you may not get what you want, leading to disappointment. To reduce the risk of failure, simply be skeptical about the business you want to start and thoroughly understand it.

Bhig Daddy

member

Activity: 364

Merit: 13

Investing in cryptocurrencies is always a risk, but no matter what someone advises you to start a business, you must know that it also comes with its own risks. Whatever you intend to invest in, you should certainly do as thorough a research as possible, which will try to reduce the risks for your investment. There are certainly businesses that could pay off in times of inflation, and there are also those that could very easily fail in just a few months.
I will ask a simple question - why not divide the money into two parts and start a business and also invest in something else? It doesn't necessarily have to be BTC, but it can also be real estate, gold or something completely different that you think could bring profit in the future.

SOKO-DEKE

hero member

Activity: 840

Merit: 570

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Investing in crypto is something good especially Bitcoin when you have the money and also have another sources of income. So If i should advise you I will like you to investment in Bitcoin so far you have alternative of income which will you be using others activities particularly feeding stuffs or others challenges that come. Why I advised you to invested in bitcoin it because more energy stress in a business which you will not have much time to dedicate to your freelancer work which was even the source you have used to gathered some amount,but once you are holding Bitcoin it is less energy stress free because it does not involves activities which lead to energy stress.

But to have less stress from Bitcoin investment never leave your Bitcoin in centralized exchange, because leaving it there means it is not only you that have control over it, but Buy and move it to decentralized exchange that only you have control over the wallet.But for you to enjoy and profitable in your bitcoin investment you need to understand the risk that it involves and also believe patient and holding Bitcoin for long term is the best strategy.

Doan9269

hero member

Activity: 812

Merit: 560

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Engage the two, both of your options are good to take, business or investment should not be onna single venture, you have to create different means to earnings, your source of income must not be only dependent of single enterprise that's why all eggs must not be in the same basket, this is one of the risky precautionary measure to take in avoiding business failure on a long term, one will definitely cover for each other.

JoyMarsha

sr. member

Activity: 924

Merit: 365

The majority of the advice offered to you suggested that you develop a business before investing in cryptocurrencies. However, before you respond, would you kindly let us know what kind of business you have in mind to choose over cryptocurrencies? Will the business give you profits in the near or distant future? When deciding whether to start a business, take into account that.

Nevertheless, if you accurately estimate your revenues, investing in cryptocurrencies won't prevent you from running your business. Create a successful business using the money you already have. You can invest in cryptocurrencies(invest with spare money) once you have proven your ability to make money from the business started. The cryptocurrency market is accessible to investors at any moment they feel to invest.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Quote from: Obari on December 01, 2022, 09:15:04 PM

There are a while lots of opportunities involved in cryprocurrency and outside just seeing it as a form of business, it can be treated rather as an investment where you have to buy and keep buying while holding for the future and one of the best times to buy Bitcoin and any other crypto is now since the market is still bearish.

If you believe we're still bearish, while it's the best timing to accumulate Bitcoin, it's never the best time to buy altcoin. Why you may ask, altcoins aren't guarantee investment as no matter how big you think an altcoin is at the moment, it can still vanish just as Luna and FTX did (and this are just the famous ones we know about). There has been many other altcoins that have stop trading because of back of liquidity or exit scam by their founders. This is the critical times for the altcoins industry as many coins you see been relevant today mightn't even make it out of the bear market.

I always advice to wait until Bitcoin fully recovers before you can play with the altcoins market and they should also be short terms and never believe anything their founders say, as they'll say anything to keep up the hype of their products. The altcoins market is just hype game as I see no reason why some project will be trading as high as they were in the bull market and don't be surprised when you don't see that project achieved such trading price never in its lifetime again.

Rigon

sr. member

Activity: 994

Merit: 441

Quote from: Stepstowealth on November 26, 2022, 05:54:46 AM

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

You start business directly without investing in cryptocurrency. With the rest of the money, you invest bitcoins in cryptocurrencies. And since you are joining as a freelancer then you can invest your money in cryptocurrencies later on. If you can use these two systems together, you can be successful. I recommend you to use these two strategies straight away. If you have market dumping after investing in cryptocurrency, business will help you to support you. And if the market is pumping a lot, then you can own a lot of money from there. You can make your business and investment stronger.

erep

hero member

Activity: 2282

Merit: 589

Quote from: CryptoHeadlineNews on December 01, 2022, 08:07:03 PM

One thing you need to have in mind is that crypto investments is never a get-rich-quick scheme whereby you could invest $100 today and expect getting $200 in few days time. As for one to make any significant profit in crypto, it requires time due to it's volatile nature, which is why for me, I'll suggest going for business should be a good idea for now until you have enough funds to carter for your immediate needs, as crypto is more profitable for long term investment

You are right, investing for beginners must require knowledge and analysis to manage investment management in crypto and avoid the high risk of wrong investments from bad reputation coins, I think OP must understand the risk of fluactive markets due to different price movements and OP should invest cold funds for purposes long term investment.

Topic: Should I invest in cryptocurrency or start my business? - page 3. (Read 1202 times)