Post
Topic
Board Bitcoin Discussion
Re: Don't advice anyone to invest on Bitcoin if he doesn't have Alt. income
by
MusaPk
on 29/05/2024, 14:16:20 UTC
Actually, in a situation like that, what will your cousin invest when he has no income?

investing is not really about having an alternative income. but those who do should have enough to meet their needs and have more funds to invest.
This means that whatever your income is, when you have some leftover and when you invest it doesn't affect your finances then you feel ready enough to carry out your investment.

but with your cousin's thoughts, that's ridiculous. although he may still have savings that can be invested. but when he doesn't get income to meet his needs, the investment he makes will only fail when he needs money and there is no more money in his pocket.
I know what your cousin thinks, he thinks investing in Bitcoin is a get rich quick scheme.

When OP cousin has job he refused to invest in Bitcoin and after losing job he want's to invest in Bitcoin. Bitcoin is not a get rich quick scheme rather you have to invest and then patiently wait for the return. It can take months or years before you start seeing your targeted profit as there is no clear cut duration of Bitcoin bearish cycle. Those of us who have job, must invest whatever they can comfortably afford in Bitcoin as a financial cushion for crisis.