Post
Topic
Board Economics
Re: Use your money wisely. Invest or Deposit ?
by
Supreemo
on 02/05/2023, 12:25:33 UTC
Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

There are two things here that need to be done wisely. First investing wisely means that you need to invest in bitcoin and/or in good altcoins and also do the dollar cost average.
Second wise thing is to store your bitcoin and crypto in a safe place. If you store your investment in centralized wallets or exchanges, then you are carrying the risk with your investment which can go to zero if those platforms scam exits.
when you try to put all your investment in a wallet it's better if you check first if it's secured and since there's so many online wallets we should check if it's legit and check their background if they don't don't scheme their customers.