A friend of mine started to save money in BTC for his son.
Now he is in worry about the idea because of this last dropping months.
I told him to re-load some BTC up to lower the average.
If you have any suggestions about this please share
Its BTC a good way to save money for our kids?
Will this pay them a car? the university? a house? nothing at all?
That's why I always advise newbies and other people to invest only the money that they afford to lose and invest only with their own risk. Crypto Currencies are not a magic money maker that can turn out our savings in multiple times, this world is really wild and based on speculations and the risks are too high.
To be honest, Bitcoin is a part of the wild crypto market and no one can predict the accurate future and hence there is no right or wrong answer to this question. However, considering the potential of Bitcoin/crypto industry and the growth of it since inception, I believe that this thing is here to stay but again, that doesn't mean I should invest my entire capital in it. I would go with diversification method and invest various parts in multiple sectors/forms rather than keeping all the eggs in the single basket. Thus to conclude, I would say that Bitcoin is one of the good ways to save money but not the single method.
For me, it's not a good idea to risk the money that is supposed to be the savings for his children in the future because in this industry assurance is just an illusion and those savings might turn to be beneficial or losses in the future and I guess it is better to save paper money for his child's future rather than making a risky decision with a 50/50 chance to turn out to a good idea or regrets in the future.It's better not to gamble the money that is supposed to be for the future of one's family and if a person has some spare money that he is willing to lose then that money can be invested on Crypto Currencies and no matter what happens with that money he is willing to lose it anyways and there will be no regrets.
