Post
Topic
Board Bitcoin Discussion
Re: Why I've been scared to invest in bitcoin
by
TheUltraElite
on 28/02/2023, 15:32:13 UTC
I know volatility is a natural thing that can happen to any investment. However, it will be good to address this issue because from where I come from people are scared of investing in bitcoin, they feel its risky.
People have worked hard to earn their money, it is natural for them to feel scared of the risk involved. There are measures to minimize the risk if you are willing to, like patiently waiting for the low price to be reached as per charts and then buying instead of going in at any price you see. Then observing what your local laws are regarding crypto. Learning how crypto related scams work so you know devise ways to avoid them.

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Personally,  I feel there should be an increased regulatory body which will help people like me not to be scared.
This will take time to happen, it has been in talks internationally. It is a wild west but people are working to make money form it.

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There should be an improvement in bitcoin infrastructure, some of these wallet aren't even user friendly and also, there should a transparency in the market. I'm still learning about the best wallet to use as a newbie though.
The infrastructure is good enough for daily necessities, I dont see others complain about the same. Try the different wallets available on desktop and android and see which one fits you. I personally found Electrum to be useful on desktop.

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My question is this, is it possible for bitcoin to be completely immune to volatility in years to come?
Is gold not volatile after so many years? Similarly no asset that has a speculative market is ever going to be volatile. Same with property, stocks and so on. Lack of volatility kills the rush for the investors. Cheesy