Post
Topic
Board Bitcoin Discussion
Merits 3 from 1 user
Re: Refer to my previous topic: "Investing plan"
by
Issa56
on 16/11/2023, 19:48:13 UTC
⭐ Merited by The Sceptical Chymist (3)
https://bitcointalk.org/index.php?topic=5473379.0 i wanna say thanks for this wise advises.
I just went through your previous post where you were contemplating whether to invest in bitcoin or Altcoins. It's better you invest in bitcoin. Altcoin investment is not really safe, you can lose your investment at any moment. The coin that you choose to invest in can crash at any moment and might never recover again, some will end up being a dead coin. That's why I do discourage altcoin investment. But if you invest in bitcoin, even if there is a dump, it's a matter of time before it bounces back.

You also said you want to invest $1500. I hope that's not your life savings. Don't invest all your money in bitcoin. Always have money outside bitcoin. It's better to you invest little amount you can lose when making investments. Don't say because people are talking about bitcoin investment, you are also going to invest everything you are having in bitcoin.

I believe future is for BTC and my investments will mostly on it. I wanna use Electrum as my main btc assets storing. As i heard exchanges is not safe for storing purposes.
Just make sure you properly secure your wallet private key. So many people have lost their private key just because they didn't properly secure it, and if you lose your private key, then you are already losing access to your bitcoin. That's why it's better you first learn about wallet security before buying bitcoin. Make sure anywhere you are storing your bitcoin, there should not be an internet connection. Because if your private key is stored online, it can be hacked by hackers, it's better for you to carve your private key on iron steel and store it in multiple places.