I have a small cloth shop. Currently everything in my own country is very expensive, so we are facing many problems in our life. The shop I have used to sell well. But now due to the increase in price, there are not as many customers or sales as before. Again. On top of that I have to pay rent for the shop which has become a bit difficult for me. After entering this platform I got to know Bitcoin. Then after browsing many places I realized that I can earn money by investing in Bitcoin. So I want to invest in Bitcoin. So I have my weekly I decided to invest in bitcoin from a profit share. I think I made the right decision. I hope that I can use my bitcoin profit for other purposes. Hope you guys can help me with good advice.
Congrats on your wise investment! I think that Bitcoin is always a smart choice, especially considering how many times fiat money has failed us in the past and keeps failing us to this day.
However you should keep in mind that Bitcoin is not a "get rich quick scheme" and you will probably not see amazing profits from your investment in the short term. You should hodl your coins for at least a few years at minimum. You should understand that an investment in Bitcoin is a profitable investment only in the long term. If you have bills to pay, especially in order to keep your shop open, then you should definitely consider keeping a large portion of your profits aside to do that. Otherwise you might have to sell your Bitcoin at a loss in order to pay your bills.
Your unwavering faith in Bitcoin mirrors that of many who have turned their back on traditional financial systems, and justifiably so. The demise of fiat currencies is as ancient as history itself. However, portraying Bitcoin as the ultimate saviour may be excessively idealistic. Could it be that the gleam of this digital treasure has rendered us oblivious to its potential pitfalls?
Yes, holding onto Bitcoin for the long term is a wise strategy, but it shouldn't be the only one. Diversification is essential in a market as volatile as cryptocurrency. Why not investigate other promising cryptocurrencies and blockchain projects instead of putting all of your eggs in the Bitcoin basket? Similar to being a supporter of a sports team, it is acceptable to support others. Remember that a crypto portfolio that is diversified is a smart crypto portfolio.