Quote from: SOKO-DEKE on Today at 07:25:01 PM

Quote from: CamilaStar on July 24, 2025, 11:09:22 AM

Bitcoin is the king no doubt, but From my Point of view I think that depending fully on it might be risky to you financially. I don't recommend anyone to depend solely on Bitcoin or any single asset. Bitcoin can fluctuate rapidly and market volatility might impact your financial stability. It is actually very risky to invest in a single asset. The part that scares me the most is that my friend has put all his resources into this one asset. If am wrong please correct me. Thanks

That is the fact. it is not a good idea for someone to invest in one particular thing because if anything later happens to that investment, all the person's money will be gone. So, it's not really safe to invest in just one way. Diversification is very important because when someone invests in different ways, if one investment does not go well, the others will act as a backup. So, relying only on Bitcoin as your sole investment is not ideal. Someone can invest in Bitcoin and also invest in physical assets like land, real estate, and so on. In fact, when it comes to Bitcoin investments, it's better to invest what you can afford to lose, so that even when the Bitcoin price drops, someone won't panic and feel the need to sell.

I don't know what keeps giving these newbies the impression that only bitcoin is enough for them. I just read a post of another newbie asking if he should quit a high paying job to focus on his passion (Bitcoin). Bitcoin is freedom; it doesn't stop anyone from taking up jobs or other investments. Investing in Bitcoin without any other source of income is a disaster; especially to a newbie who is yet to get a balance in the crypto space.