I'm 25, I have a full-time job and sometimes I freelance. I'm thinking about making a small investment (£25) into bitcoins on monthly basis. Additionally, I want to invest the money I get from the freelance into it as well, but it's not very stable income, so I mainly want to focus on small monthly investments.
- Can anyone consider this idea as a good one?
- What are the possible cons of this idea except losing all money?
It's a very good strategy to invest (I actually use it myself so I might be a little biased but regardless), because first of all you're only investing tiny bits of money that you don't really need and those bits (see what I did there?) combined with the natural growth of bitcoin will bet you a reasonable amount over time. Since you've said you're going to apply this for the next couple of years I'm assuming you are interested in a long position on bitcoin. Therefore I would advise to directly deposit whatever you bought into a cold storage vault. That way you won't risk losing anything over time.