Quote from: Assiduous on July 07, 2023, 01:54:06 PM

I have learned to understand that any type of investment is risky but want to risk something that has the potential to change my financial situation. With this aspects bitcoin is much worthy to invest.

I am trying to collect money to invest in Bitcoin for this I have decided to do agricultural work on other people's land and dreaming of investing some of the hard earned money in Bitcoin regularly. My money is small so I am trying to hold bitcoin for long term so that I can fulfill my dream.

I firmly believe that there is a possibility of achieving a large amount of money in the future. My teacher advises me to hold my investments on bitcoin for longer period ‍so that i can achieve the greatest success in my life.

While thinking about investing in bitcoin is a wonderful idea, keep in mind that it is not a "do or die" decision. If you lack the financial stability to meet your demands, you shouldn't invest in bitcoin while going hungry because the cryptocurrency is here to stay and you can always buy it later. The only issue is that, in comparison to investing now, you would have to pay more for bitcoin at that point because its price may have increase. This would limit your potential profit. You too can start little and keep accumulating, and you'll be shocked at how much bitcoin you've gathered over time. The majority of bitcoin holders started small and added bitcoin bit by bit according to what they could afford slowly expanding over time.

Quote from: Aqua_Man on Today at 01:34:51 AM

Your narrative is really moving, but to put it another way, you're not financially secure, even if you depend on your hard work in your agricultural business. That piqued my interest, but I'd like to caution you against taking a chance because investing in bitcoin has a higher risk than you may realise. Given your circumstances, you should invest in your income rather than bitcoin.
Because it's risky and because of your issues and uncertainty, you could have to wait a long time to earn some money using bitcoin in order to meet some necessities. So, my dear buddy, before you invest, aim to make yourself and the people you love stable.

Your advice "before you invest, aim to make yourself and the people you love stable." really got me.

Prior to making any kind of investment, including bitcoin, it is crucial to establish your financial stability, but most individuals are obsessed with making investments even when they are not. I'm not suggesting you have to be wealthy to invest, but you should know that even while bitcoin is the safest and most profitable alternative for those in less fortunate circumstances, it still carries some risk, so you should only invest money you can afford to lose. The only time to start thinking about investing is when you can manage your income to meet your needs. Using the DCA strategy, we can gradually accumulate bitcoin with small amounts by setting aside a certain percentage of our income on a regular basis (weekly or monthly), depending on how we earn.

Op plans to hold bitcoin for a long time, so the risks associated will lessen. This is a smart idea since after a few years, he would have gained a respectable return for himself, so it is worth the risk. Bitcoin is beneficial making investing in it incredibly worthwhile. I would advise him to properly handle the money he receives from agriculture, allocating a portion to bitcoin and utilising the remainder for personal expenses. Financial requirements will always arise, regardless of how you choose to address them, thus it is also worthwhile to take the chance and invest in bitcoin.