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.
I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?
If long term saving money will not help someone then there is no use of saving money. This is because at the current rate of inflation in the world, it is almost impossible for low-income people to "do anything with long-term savings." That is why everyone should do something that has the potential to increase his money. Thinking in this way Bitcoin can be a good investment and savings medium. But its volatility and potential must be considered. An investor must acquire good knowledge about this before investing. Don't invest in Bitcoin only on the advice of a friend or someone. Even though it is a good and suitable platform for investment.