Quote from: Silberman on Today at 08:51:22 PM

Quote from: Zoomic on May 22, 2023, 12:58:45 PM

Quote from: Hyphen(-) on May 20, 2023, 01:18:07 PM

Quote from: Zoomic on May 19, 2023, 10:57:28 PM

1. Invest in Bitcoin with your spare money:
I can say that this advice is not necessary in today's bitcoin world. This advice was only relevant like a decade ago when bitcoin was been seen with alot of skepticism. Some saw bitcoin as gambling, some saw it as a ponze scheme while others saw it as a bubble the will burst.
In today's bitcoin, we know that if you invest with your spare money you may never make any fortune from bitcoin.

If you use your entire money to invest in Bitcoin, then which money are you going to use for your personal upkeep? Does that mean anytime you need money, you should sell the Bitcoin you have stocked in your wallet? NO. That is why the advice to invest your spare money in Bitcoin is always good for new investors, so that they can buy Bitcoin with the aim of holding it for a long time.

You have missed the point. Not investing with your spare money does not mean you should invest all you have. What I mean, anyone still investing in bitcoin today with a spare money is a very big joke. You can budget your and be fine in bitcoin investment.
For instance, if you earn $1000 monthly, after removing your living expenses and emergency fund, you can decide to invest 5 to 10% in bitcoin. This is not a spare money and it is not also a living expense money and neither is it an emergency fund.

When you say spare money, $3 can be the spare money of someone that earns $1000.

By definition any money that you do not need to sustain your current living expenses is spare money, but how much money each person can spare a month to invest on bitcoin? That is on them, some people may only invest some beer money in it and without a doubt doing such a thing can be very wasteful as the fees will eat a great deal of whatever they are investing on bitcoin, now investing 5% to 10% is a decent amount but it is still spare money in my mind.

This is where risk management would kick in on which it would really be needing for someone to consider out on how much money that they could afford to lose on their crypto investment.

Risk management is really that highly be needing up to consider on the time you do step your foot into crypto investment.Dont ever have that kind of all-in type of mindset because you would really be finding yourself easily getting be wrecked up by the market considering on how volatility it would be. This is the main importance on spending or investing the money which you can afford to lose is that you wouldnt
really freak out if ever you would see its decreasing in value and since you are really that prepared then you cant really be having those kind of impulsive reactions.

Stick into your plans and be mindful about your each step or decisions you would be making so that you wouldnt really be that ending up on regretting just because you had missed something.