So I am new here. I would like to get some financial advice from you all regarding investing in Bitcoin. Bitcoin is a cryptocurrency that I have been hearing so much about but still having cold feet to invest in it. I have some funds fixed in my commercial bank for almost 3 years now that will be due soon. For the past three years, the interest gotten from that fixed money is not much to call that a wise investment decision so I'm thinking of investing in Bitcoin. 12 percent per annum is not that okay for me, just left it there to avoid spending it. Even though, I will just invest a little from that amount to see how it will turn out.
12 percent ROI is not okay with you? Well, when you compare it with crypto returns it's actually a meager percentage and not a favorable way to invest but do you also compare it side by side to know the risk involved in both investments? When investment is being discussed, remember you don't only focus on the returns but also on the risk involved. In as much as investing in bitcoin is a great decision, people tend to overlook the possible side effects of it and end up losing their money the wrong way.
In your case, I believe you can be patient to hold for a longer time since you came this far with bank holding your money for a good three years. Bitcoin of course will give you a much better return than 12% that bank offered you but you should be aware that by investing in bitcoin, you are taking more risk. If you are comfortable with the risks, then you are welcome.