Hello everybody, how are you?
In this forum i am new and proud to be here as a member of this forum. Heard there is a lot of discussion about Bitcoin so I came to join here for my own needs. Hope you all will help me. I don't have a good idea about cryptocurrencies. I just know that investing in Bitcoin is extremely profitable. But I don't know how to do it. One of my acquaintance suggested me to invest some money in Bitcoin. I told him how many dollars to invest and he said as much as I am willing to invest. I made up my mind that I would invest $500 but i am confused. I don't know much about Bitcoin so the person gave me the link to this website and suggest me to know about the various opinions of users on various topics. Since I see that Bitcoin is always discussed , I want your suggestions about my Bitcoin investment.
Should I invest money with the suggestion of that guy? He told me that if I invest I will get good profit. He said, he will open my bitcoin wallet and help to buy bitcoins. Should I invest in bitcoin?
First of all, welcome to the forum, Op. Your friend is not mistaken to tell you that investing in bitcoin is profitable, but I want you to understand that this is not a quick way to make money, because some people think bitcoin is a easier way to make money, instead, you will need to be patient. Investing in bitcoin carries a certain level of risk, but it's not a risk that you will lose all of your money. Example if you hold bitcoin and the price drops, don't be afraid and sell, you won't lose any money, if the price drops, it will eventually rise again, no what time it take. Don't allow anyone fool you into thinking that you can lose all of your money in bitcoin, you can only make profit.
When it comes to investing, it's not a bad idea to start with $500 or any other amount you can afford. However, you should never use money you borrowed or that you may need in the near future. If a friend opens a bitcoin wallet for you, you should keep it secure, trust no one but yourself, and ensure that your information is safe with you. Follow all this advise given to you, it will guide you.