Topic: We have been told: Invest only Extra money in bitcoin - page 3. (Read 803 times)

If you don't have the extra funds to invest in this season, i think you can invest the little fund you have in Bitcoin, because it will be easy for you to improve higher in financial aspect. Those that have the extra money in this season will not miss this opportunity, because the price of Bitcoin is still low for both long term investors and short term investors to buy Bitcoin and hold for the price to increase higher before they can sell to achieve their profits. Don't invest what you cannot afford to lose in crypto investment than to take the risk of what you can afford to lose in your investment.

No matter how little or how much you'll be investing in Bitcoin, it is still okay because it will pile up when you keep purchasing it with your extra money. Though there is still some risk, for example, if you buy bitcoin on an exchange, you will not be able to get your funds back if that exchange closes in a few years, so it is better if you have your own wallet, preferably a hardware wallet for safety. Almost all investments require patience, but bitcoin is the easiest (if you can control your emotions) because all you have to do is hold it and wait for the right time to sell, though your biggest enemy here is your mind, because in bear markets you are constantly thinking about selling it. 

It's true that the middle class is hurting a lot last year with the rising living expenses due to an increase in energy prices and the double digit inflation rates. Sorry to hear that you have no money that you can afford to lose, I am in a similar position like you and but still save as much money as possible. The term "money we can afford to lose" is also a bit misleading when it comes to crypto currencies, because we are not actually losing the money. As long as we are not selling any of our coins we are not realising a loss and still have our money. The main difference is that when it comes to saving money we need to distinguish if we already have a fixed goal for that money. For example, if we need the money to buy a new car in a few years or renovate our apartment then we really can't afford to lose that money. But if we only save without a specific goal than we should be saving our money in more risky assets. The problem is that if we need our savings at fixed point in the future, than we are going to be forced to sell our crypto coins at that time no matter the price. And if the prices are much lower then we are going to make a big loss. The best is to split out our savings across all types of assets, so that we always have one position we could sell that is in the green.

How about the money you are using when you do buy some of your wants or leisure things? Like instead of you buying liquor or cigarettes, try to use them to buy Bitcoin instead.
Or instead of buying some luxury items, go with the ones you can afford, and the excess funds, use them to buy Bitcoin so you can say that, you can afford what you will lose for buying Bitcoin.

Investing extra money into cryptocurrency is a wise decision, because we don't know how far this lasts in the market. With bitcoin investment the story is different. You've got good amount to invest, going for it is the wise decision than keeping it as fiat or investing into other schemes.

With bitcoin only difficulty is you need to hold and have the patience to experience the growth. Maybe on emergency requirement the market might be at the bottom and one might experience loss while cashing out.

The sayings are not wrong you know because onset as a reasonable investor, you will have that knowledge of investing what you can afford to loose at any point in time because of so many reasons which you must know. As a smart business man or woman who you are, if you do not have extra funds which you can afford to loose, just as you have said and you feel like still investing, make sure to take your profit and do well to have a benchmark for that so that you do not go below or above standard but however, when investing you should know that you the market is volatile and you should know more about market volatility to be in the right track as to when to invest and when to collect profit to be on the safe side.

Precisely!  Bitcoin is a marathon, not a sprint, so we do not need to panic buy, we can buy BTC little by little in an amount that won't make any impact on our financial budget.  If accumulated little by little in due time (5 years to 10 years of accumulation) will be a huge enough life changer if somehow the price of BTC on the 11th to 15th year is 20x the price of the 5th year.

I don't know how you manage your finances.
Do you really use all your income to buy Bitcoins?.
If so, how can you meet your daily needs if you drain all your money to buy Bitcoin?
Do you want to get rich quick by expecting a lot of returns from the Bitcoins you buy quickly and instantly?

I assume you are not a new person or a beginner investing in cryptocurrency, right?
How can you think and have such an understanding?
Sorry bro but I think it's a bit ridiculous if you don't know the risks when investing in Bitcoin.
Or maybe you are not good at managing your finances.

It seems to me that most people have extra money and can invest as long as they manage their finances well.

There is no compulsion in investing in anything per se, if you have money you invest in other assets and that is how things work in the world. Even if i wanted to invest in any stock or any other asset, i do encounter the risk but since you are able to make a calculated risk you move forward with the investment and so is the case with BTCitcoin, only invest if you are willing to hold for a longer period of time.

Whenever we hear about some people doing money in financial markets and especially on cryptocurrencies I remember the golden sentence of invest what you can afford to lose because whenever you enter the financial markets you should be ready to even lose all your funds and all the money you have just in a few minutes, besides that if you mentally really for everything happening to your money you can have a plan even for the money when you are out of money.

That is the advantage we can get from investing in bitcoin because we can buy bitcoins in smaller amounts. And if we can consistently buy it, I'm sure our number of bitcoins will increase and be ready to be sold at very high prices. This is a long process that must be passed by someone who wants to implement the DCA strategy but it is worth trying, especially if you have free money that we can use to invest in bitcoin. So this will return to our decision to invest in bitcoin or just watch the price fluctuate.

I can recall some people even going so far to make a loan or borrowing money in Trading Discussion board to invest it because they just do not have any money at all like come on. It is not like Bitcoin would cease to exist anyway and you could potentially buy more in the long-term considering that you would be saving up while working on 9-5s.
It is a risky game indeed like others mentioned in here, but like many mentioned before, "you cannot remove risk, but you can manage the risk.".

What’s the point of buying $4 bitcoins, there is no value in doing so I think you lose more money that way. Imagine I buy $4 bitcoin daily from an exchange for 3 months, I will be charged a fee for each $4 I pay out of my account. Honestly imo if $4 is what you can afford to lose on a weekly basis I don’t think buying bitcoins with that money should be priority. I imagine a person that can only spare that amount is barely living above the poverty line. 

Even If the money you earn their is no extra for you to invest you can still buy bitcoin in smaller amounts.  You don't need wait to get big money or use all you have to buy bitcoin in big amount before you can. You can buy bitcoin  of small amount,  atleast $4 from time to time,  accumulate it till it gets to the amount of that you want.

There is also a difference in patience when you do it that way as well. If I am putting 50 bucks a month and keep doing that for the next 30 years then I will get rich and I won't be feeling like I need it because who needs extra 50 bucks a month? Sure some people do, there are 8 billion people in the world and I assume not many can do it, but I can and I would say it wouldn't be needed and I can wait.

However, if I sell my car lets say and invest that into bitcoin and it goes down? I would not be able to wait as patiently as I could otherwise, because in this situation I sold my car, and I want it to go up so I can buy a better car, but if it goes down then I can't even buy the same car back.

Bearish market or not, it's important to invest only amounts that you aren't really needing A.K.A extra money because BTC investing is a long game. If you invest your primary money in Bitcoin then there's a tendency that you will pull it out because you will be needing it or also you are scared when you see that the price is going down.

If we don't have an extra money then why not find a side job and then use that earnings to buy a BTC? There is a signature campaign too in this forum that pays in BTC but first, you still need to learn about the blockchain and crypto so that you can relate on the discussions here. This ain't easy but worth it at the end.

Now there is something you have to get very clear about investment whenever you heard people saying invest with your extra money. It is 'Biconditional statement' that doesn't truly mean you should invest with your extra money but rather what it means is " A money which if you lost may not cause any damage or a heart attack" or being fainted for the sudden shocked. Which is why people always termed it to be an extra money or a spare money, naturally you and i knows that no one keeps extra money rather than savings because everyone always have what to do with money. Is just a word of wisdom to avoid stories that touches, like some people could likely used their rent or tuition fee for investment thinking they would make it 4x before getting the rightful day to use the money and if it happens that everything went against them then they regret why making such mistake to use their money for investment.

Diversification is essential if you intend to invest in a coin for which you intend to spend a big amount of money. I am glad that you can still save and, at the same time, have investments. I'm sure you're earning a lot because you can do it all, but because my current source of income is that I can only save (albeit with difficulty), I don't have spare money to invest in something, so whenever I earn bitcoin, that's when I'll invest (reinvest or hold). 

I follow that only when it comes to gambling. Gamble an amount only which you can afford to lose.
When it comes to investments, I make sure to diversify the amount in such a way that the risk decreases.
In fact, most of my income goes to investments, and then rest is divided into savings and expenses.
So I guess in today's date the phrase invest only which you can afford to lose doesn't hold true because the more we invest in the right assets the more we profits we get.

If you can't afford to lose money, don't invest right away. Because we cannot guarantee that Bitcoin will increase in value immediately after purchase. You may need to hold for several years or even decades to recover your initial investment. As a result, it's risky. Rather, you could invest a small amount from your savings, even if it isn't extra. Purchase a small amount every month. It shouldn't have an impact on your daily life. Save money from other sources, for example, if you are a smoker, quit smoking and invest your savings in Bitcoin. Don't put your daily expenses at risk.