I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.
Don’t expect to buy bitcoin today and become wealthy in the next six months or one year even. Bitcoin isn’t a get rich quick scheme. If it were, we would all be billionaires already. There is a lot of misinformation about bitcoin and scammers take advantage of this to deceive newbies and steal their money.
Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?
What was the original plan you had? Is it better than investing in bitcoin? Bitcoin is a
volatile asset, meaning the future of your investment cannot be predicted due to the uncertainty of the market. 3years savings has a lot of sentiment attached to it and I doubt you will able to hodl through the bearish markets if you eventually choose to buy bitcoin with that money.