Topic: Should I invest in cryptocurrency or start my business? - page 5. (Read 1202 times)
You should go for business and when you start making profit in your business, you dca into btc. Your business will guarantee you a steady source of income . And do not invest in altcoins, you might lose all your savings
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's better to establish a business, crypto is here to stay and it's comfortable if you are making money and use part of the money to invest in crypto.Do not forget how risky crypto investment is that's why it will be a wrong move if you use the money to invest in crypto.
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.
If I were in your position, I will run a business and continue working. Investing in crypto is also a good choice but that should be in limitation and only if you have excess money after establishing your business. But during this bear season, investing in them will take long before you will gain a profit, so if you are not comfortable with waiting long then better not to do it. Crypto investment can't give you a profit everyday, unlike in a business at least you can get some returns every day. 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.
Before you decided to enter crypto, ask yourself first. This applies to Bitcoin or altcoins.
1. Are you ready to take risks?
2. Are you financially literate?
3. Do you have backup funds or sources in case your crypto portfolio goes down due to the bear market?
If you can answer these questions above (and/or someone would add something here), then you are emotionally ready to buy crypto despite the market volatility, no promises or astronomical returns, etc.
I can relate to you because I’m a crypto freelancer myself and saved enough money too. Despite that I have lost 7 figures in total of crypto since I began my journey, I still managed to sustain myself by keep doing more gigs on the side. It gives me more motivation to do more even with the huge losses I have rather than whining and crying all day.
Why not do the both thing at the same time? I think we have to clear a misconception here as I have noticed, some newbies also asked this question before.
I think choosing one would be better. This is if you are a beginner in business and crypto. If you have an expert one then walking together probably won't give you a headache.
Starting with one will keep you focused and trained. Once trained then you will be an expert. Once expert then you can do it easily. After that I think start with the one you think you can. Because dividing the concentration in two different paths I think requires a lot of effort. So start with one by one It would be better the result.
if to invest in cryptocurrencies or to establish my business.
Both of these activities have risks, different levels of risk, you must have the expertise and master the business that you want to run, that's very important, crypto investment is the same way you have to really understand the type of crypto you want to invest in and also the state of the crypto market, the two activities you want to do have different work and different benefits, that's for sure.Just a suggestion, you can do both of these activities, run your business and make your investment, where you are doing your activities in business, of course the investment is also not hampered to do.
Maybe you want to read this one: The rise of using cryptocurrency in business
Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
Do you mean, OP shouldn't choose crypto investment?Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
For whatever reason, investment is a risky financial instrument, especially in high volatility assets.
I'm assuming the OP is a beginner since s/he started a question on this board. "When a newbie is interested in investing, then tell them the risks first."
First of all you make your mind.
Means if you want to use crypto world as business so you should learn about trading. And than invest wisely. And trade wisely too.
Crypto world is also a business place.
Or if you want to invest in and you want to hold so I will prefer Bitcoin. You should invest and just hold it for years.
And if you want to invest in a business so you can invest. But choose a good business.
Note: Don't invest your all of your funds on first hand.
One more suggestion is that don't choose only one project choose different and invest.
If you get loss from one project the second will recover it.
Means if you want to use crypto world as business so you should learn about trading. And than invest wisely. And trade wisely too.
Crypto world is also a business place.
Or if you want to invest in and you want to hold so I will prefer Bitcoin. You should invest and just hold it for years.
And if you want to invest in a business so you can invest. But choose a good business.
Note: Don't invest your all of your funds on first hand.
One more suggestion is that don't choose only one project choose different and invest.
If you get loss from one project the second will recover it.
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 cryptocurrency is a good thing, but the in my own opinion if it's possible to invest in two that will be a good one. Out of 100%of your savings in like 20% in cryptocurrency for a start and 40% in any kind of business for the first time, then the remaining 40%should be as backup. 
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 (particularly in Bitcoin) and starting a business are both risky. Because whatever you choose there's no assurance that you'll get a good result. Hence, the answer would depend on what you prefer and where you're confident to be a gainer in the future. In my experience as an entrepreneur, I will prioritize to build a business because it's a valuable asset that can make me financially stable. Of course there's no guarantee, but it depends on your dedication on how to make your business grow. If you like what you're doing and determine to succeed then you can do something to make it possible. On the other side, investing in crypto is also profitable however keep in mind that patience is necessary here and the waiting time is uncertain since we can't certainly predict when will the bullish season might come. 
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 think the decision is left for you take, but to me I think running a business will be a nice idea, if you are still interested in Cryptocurrency then you can start investing some profits you are making from your business in Cryptocurrency, if you are investing in Cryptocurrency, make sure you invest in only bitcon and you should be ready to hold for long term, Bitcoin investment is different from freelancing that you might be paid per job done, or a business that you might be making profits daily or weekly. In Cryptocurrency you have to be prepared to hold if you really want to make good profit.The reason why I asked you to invest in business first is that you might be making profits daily in your business and you will be using it to sustain yourselves and the money you are getting from your freelance job, but if you are investing in bitcoin then their is no daily income, incase if anything happens and you really need money, you will have to sell your bitcoin to solve your problem. Also you don't have to invest all your money in crypto, invest what you can afford to lose.
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 depends on what cryptocurrency do you want to invest, many of them are scam and to be the shit coin, so be careful for that. If you happy to invest it 50:50 in bitcoin and establish your business is good, but only you have plan when you want to sell it, You must have target, don't be late to sell when ATH, after you sold and profit then build your business again, and expand your shop asap, after that all finish, invest/buy again bitcoin on 2025, wait for ATH, sell it again, profit, build again your shop, then buy again bitcoin on 2029, and so on.
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 suggest at first invest in business, because you have control on it, you can do whatever you want, while having a freelance job, then all your income in freelance will be invested in cryptocurrency, in this way, you have 2 source of income, one is in a long term like other suggestion, in that way the risk of loosing money is small, 2 source of income is better than one, also at this moment that the price drops, some of the coins in the market are really on sale, having also a business makes you forget thinking all day of your cryptocurrency investment, if you keep looking at it sometimes you will make mistake, to sell early that's my take on this question. 
Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
Do you mean, OP shouldn't choose crypto investment?Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
I think it is no problem to invest in crypto, nothing wrong with crypto investment as long as OP has sufficient knowledge about it. I am sure OP has a good mentality as a crypto investor, that's why he considers having crypto investment.
The problem is if OP expects fast profits, it is unlikely to happen with the current market condition. OP only can expect to take profits once crypto market already recovers and crypto prices increase again massively.
Regarding business and freelance, these jobs can be run while investing in crypto. OP won't spend a lot of time on crypto investment if he doesn't buy too many coins. I think OP needs to buy 1-2 coins only, BTC and ETH seem the best option.
Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.
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.
Why not do the both thing at the same time? I think we have to clear a misconception here as I have noticed, some newbies also asked this question before.
Again, treat cryptocurrencies as a normal investment instrument. You are nowhere compelled to dump all of your lifesavings or funds into investing in this high-risk, high reward system. You can also always enjoy the rewards by also pursuing a different path. Remember that this is an investment- meaning, the proceeds that you will get is due to your diligence and responsibility as an investor to monitor its price.
Lastly, you can always focus on different ventures while maintaining an investment in this field. It doesn't have to be an absolute thing where you are compelled to focus only on one thing at a time.
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.
What do you want the most?If it's starting a business then start with it and when you're back on track, gets the ROI and everything then start investing in bitcoin. But if that business can do with the half budget you've got now.
Then, just do both things. Buy bitcoin while starting your business. That sounds easy, right? It's easy to buy bitcoin yet starting a business will require you more time and effort.
As a freelancer and if you are good at it, I can conclude that you earn some good amount of money and you live comfortably, that is why you were able to get good savings.
I will advice that as a freelancer, if you have some times and skills to supervise your business at the early stage, open a business and nurture it to grow. But if you think you will employ persons to run a business you have no idea about, please save your energy and invest in Bitcoin while you continue doing your freelancing jobs.
Business in the start up stage needs alot of attention to survive, if you know you gonna starve your new business the needed attention, please invest until you have a good time to handle business.
I will advice that as a freelancer, if you have some times and skills to supervise your business at the early stage, open a business and nurture it to grow. But if you think you will employ persons to run a business you have no idea about, please save your energy and invest in Bitcoin while you continue doing your freelancing jobs.
Business in the start up stage needs alot of attention to survive, if you know you gonna starve your new business the needed attention, please invest until you have a good time to handle business.
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 actually invest in both, buying some bitcoin and putting up your own ideal business outside cryptocurrency. But make sure that the money you invest in bitcoin is something that you can afford to lose, otherwise when bitcoin price crashes and drops drastically, you will end up feeling depressed and frustrated. Invest but only on the amount you can manage to lose. 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.
Why do you need to choose which one to do?I think you can do them together. You can invest in crypto coins while you are establishing your business and working as a freelancer. You must know that investing in crypto doesn't require a lot of time every day. After you buy BTC or top altcoins, then you are only holding them until the bullrun season. This is not a very complicated matter as long as you can manage your time for each activity very well.
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