Quote from: Odohu on August 21, 2024, 09:45:34 PM

Quote from: kryptqnick on August 21, 2024, 12:52:16 PM

However, I'd say that if someone has low income and can barely make ends meet, there's probably no good way to invest in Bitcoin. Because I firmly believe that people should only invest what they can afford to lose.

I was having this mindset before but after checking the history of Bitcoin in terms of the growth in price, I think that statement is not entirely correct. This is because no one loses money to Bitcoin if the investment is held for at least 5 years.

The challenge will be I think is to keep your money in bitcoin for that long. For sure you will see the growth your money will have and you will be tempted to take it out but patience shall pay off.

Your money will be in more danger if you take it out. You might take it out at the wrong time, wrong price and you could never buy again in the original price you bought it for. This is why long term investment is a less risky option for investment