Post
Topic
Board Beginners & Help
Re: Should I invest in cryptocurrency or start my business?
by
suzanne5223
on 03/01/2023, 17:01:31 UTC
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.
Well, if OP will start seeing business to fulfill his greed, then I don’t think his investments will succeed in the future. It should always be noted that any successful investment takes time and sometimes are slow in progress, so if he’s greedy and only want quick profits, crypto investment won’t work for him. However, if he can be a good and patient crypto investor, and has also knowledge and expertise in running a local business, then he must try them both to maximize his future profits.
Both Cryptocurrency and running a local business require no expertise what is needed is the study of your competitor's drawback, introducing something creative that will thrill consumers, and the simultaneous provision of great service when this is done the rest is risk and financial management.
Having said that, for the OP to be successful in both crypto and the creation of business is the reason why I advise she should do both. However, she must see crypto as an investment or a method of saving fund instead of putting it in the bank so she can control her FUD and buzz. Besides, this will encourage long-term holding.