Quote from: CryptSafe on February 14, 2023, 07:25:11 PM

Quote from: Crypt0Gore on February 14, 2023, 06:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.
If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

People fail to understand this phrase " invest what you can afford to loose" this is absolutely the best form of Crypto investment where by you do not need to panic when ever the market situation is going otherwise. You can not be under any pressure so as to quickly collect your capital because already you got a backup plan which is your source of income or profit from other business you so so far as you only invest a little to buy fractions of bitcoin at various intervals. Well seems OP friend was under pressure so as to meet up because no man can make such mistake up to the point of getting a loan for just a risky deal which you are not certainly sure of. OP you did good by supporting your friend with feeding. I commend your efforts but you should caution your friend not to make such mistake next time.

In my opinion, you don't need to have a large amount of money to start investing in crypto assets. "You can buy cryptocurrency for $100. It depends on what kind of token you want to buy.

But I agree with you. You should invest in cryptocurrencies only the money you can afford to lose. If the amount is large enough, you don't have to invest all 10% of your portfolio in risky assets. You can start with smaller percentages - 2-5-7%.

First, you need to set aside an amount that you are willing to lose easily. And buy cryptocurrency for 10% of this amount. This will be enough to start familiarizing yourself. And you should never invest your last money, or even worse, credit funds, in crypto assets.