Quote from: n0ne on July 15, 2023, 11:41:30 PM

Quote from: Franctoshi on July 15, 2023, 11:34:46 PM

Quote from: synchronym on July 09, 2023, 05:33:02 AM

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in the bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from a severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Being able to save about $1800 for 5 years means you can survive without this money and is likely the money that you can afford to lose. Investing in Bitcoin is a good idea since your local fiat currency is going down in value due to inflation and Bitcoin is an inflation hedge. All I have to say is that investment in digital currency like Bitcoin is risky, and you should be aware of that, don't go all in, invest with good DCA, and be patient with your investment just as you did with the money in the Bank.

Thats really a good saving. As stated op is able to have his life moving without the help of the savings. Investing into bitcoin is really good and the right choice. All around the world inflation is a big problem and op have taken the right decision. Whether it is bitcoin or something else, we shouldn't expect the return out of the investment at the shortest and it need to be given time. So long term focus is much important and we should be careful to enjoy profit, if there is growth happening in between.

It took him 5 years to save $1800, which means he could still live without it, but he wouldn't be willing to lose it. Because if he loses it, it will take him another 5 years to save, if it were you, would you be willing to lose it and spend another 5 years saving again? Bitcoin is a potential investment, but that doesn't mean you won't risk or lose money investing in it, so it would be a bad idea to invest all your savings in bitcoin.
Don't forget life is full of surprises, and to minimize risk, we should diversify our assets, why not invest 50% in bitcoin and 50% in savings?