Bitcoin Forum

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

I would keep half between cash and the bank for emergencies, say $500 in cash at home, $500 in the bank and the other $800 in bitcoin, but keep in mind that it is very volatile and count on not using it for a long time. Over time, if you save more, you can buy more bitcoin little by little, following a strategy known as DCA.

Always think before you invest to have 3 to 6 months of emergency expenses saved. Then you can invest. Otherwise you may be forced to unwind your investment (sell) if you need the money in the middle of a bear market at a loss.

AFAIK Bangladesh is a country which still ban Bitcoin, so you need to be careful about your privacy. Even though you know you're only invest in Bitcoin and never done any crime, but breaking a law is considered as crime for the government.

If your country has a bad economy condition, it's better to move your wealth to global asset which not 100% affected by your country e.g. gold or Bitcoin, not local stock company or real estate.

Given your situation, I would be more likely to diversify my portfolio into bitcoin, fiat, gold and bonds.
Bitcoin might give better returns but depending on the availability in your country you may or may not be able to encash it at the right time.
Gold might give decent returns and you will be able to encash it since it can be easily sold at shops and so it will help you in case of any emergency.
You can hold some fiat cash with you so that you don't face any liquidity crisis and can plan things out accordingly.
You can hold bonds in case the banks go bankrupt then bond holders will still be on the safer side.

If I were you then I would divide my portfolio in below criteria
Bitcoin - 30%
Gold - 30%
Bonds - 20%
Fiat cash - 20%

I am not counting real estate because I am assuming if you are having real estate then just keep as it is.
This is just my idea of diversification and you can do your own research.

If that is the only money you have better just save it because you might be in more worse situation if your investment in bitcoins fall. Remember that there's ongoing crisis happening on your country so think more wisely and don't rush your decision making on investing. Maybe for now try to seek crypto job as sideline and try to grow your money earned there since this could be the safest option you have rather than trying to risk all because you think you can earn easily with this.

I think you should be more careful since its a highly volatile digital currency. Bitcoin has a future to increase more its value but it will depend on the market. Sometimes youll encounter its a very low price which will average your buying power and get a general weighted shares. But dont expect that it will be a win win solution. Right now, its on 30k level and we can see below that or burst to its ATH before who knows this is a speculative asset.

I don't bother to keep any money in the banks again until I need fiat that I want to spend on something or buy food items, all I care about is eating food and investing my money that's why I invest almost all the money I made from my business into Bitcoin and few other crypto projects, I am fine with living this way, some food to keep living and make more money to invest for my own better future.

I strongly believe that this is one of the ways I can get things done in life, I decide to start and finish my own house in two years from now and I will be doing this with part of my investment, I am excited to see how this will turn out in two years time and mind you, if things go wrong I can always restart, it's part of life and mine is adventurous to me that's why I like doing this.

Bitcoin has proven to be a great investment since its existence due to its continued increase in value. I can say that early investors have made some money out of their Bitcoin investments, and even recent investors are hoping for the best. From the evidence gotten from the Bitcoin history of Bitcoin, I can easily say it is worth investing.
 
From your story, you said that you have been involved in bitcoin for a long time now, and with that, I may believe you understand both the advantages and risks involved in bitcoin investment and the cryptocurrency industry. If you do not understand it properly, I will advise you to take your time and learn more, so that your knowledge can decide for you whether you should invest in Bitcoin or do another business with the money you been saving for over four years. I want you to know that nobody is sure of what will happen, but your knowledge is your hope.

Of course, staying away from banks and heading towards bitcoin will be the best decision you make in your life. You will never regret such a decision and you will see exciting results in the future.

If you had large amounts of money such as 10k or more, I would advise you to buy half of it in Bitcoin and the other half or less in gold and keep some fiat to buy the necessary needs, but since the amount you have is not large, it is better not to divide it and buy only Bitcoin.

Inflation threatens all countries without exception, so everyone must withdraw their money from banks before they go bankrupt and transfer them to Bitcoin or gold.

Just think back in your country how the existence of bitcoin if it were known by the government would it not be a problem? Bangladesh is a country that prohibits bitcoin that I know of so this should keep your privacy in while holding bitcoin as its investment.

Trying to diversify is important you can choose several assets including physical gold that can be stored and this price is more stable compared to bitcoin which has high volatility, is it with money you mention it is a savings or including other cost of living needs?

I think the decision remains in your hands, investing in bitcoin is indeed highly recommended but you must understand how the risks and how it works.

That is the good side of Bitcoin, there would be a slim chance for it to get bankrupt as many people invest in it. It's a good choice to invest your assets in Bitcoin since you already have the background. Plus in Bitcoin is decentralized you could manage your assets whatever you like. But If I were you, those numbers of your savings, I would not invest all of it in Bitcoin, you could do some alternatives for you to have a back up investment. Since Bitcoin is still volatile that could affect your assets. But much better than banks that are being affected by economic issues such as inflation, to Bitcoin you could manage your losses and earn profit.

I'm not fond of banks either; your money is sitting there losing value while they're profiting from your deposits, and in return, you receive a mere interest rate that won't yield more than a few euros per year. On top of that, the government has full access to your spending and how much money you have. In the recent filing of taxes, there was a detailed list of how much money has been spent from each bank account I own. It's insane to think how much information they can see about us with zero privacy whatsoever.

The issue, however, lies in the fact that we can't 100% depend on cryptocurrencies for our daily spending; it's not the most convenient thing unless we use a card such as Binance's or Crypto.com's or a few other cryptocurrency cards that are out there, but even then, banks can't be completely avoided.

Listen mate no one can give you any perfect suggestion on investment. In all type of investment there is risk and you need to admit it. But yes you can make your investment more precise by calculating the risk involved in it. According to me investing all the savings in a particular sector is not good. You should always diversify your investment in various assets. But as you have mentioned about the economy of Bangladesh and it’s banking system, so yes investing in Bitcoins will be more profitable at current situation.

You said, you've been involved in Bitcoin for a very long time, but yet your still skeptical 🤔 about your decision in investing in bitcoin.
I found that to be fascinating, because for the duration of time you've known Bitcoin, you should understand that, investing in bitcoin is one best decisions you can take, though I would advise you shouldn't go all in with your entire savings, you can invest half of it or a quarter of it.
Since your also thinking about trading in Bitcoin, I will also advise you take some classes on trading and try to be perfect on your demo before going into live trading.

First of all congratulations, you have expressed interest in investing in Bitcoin. You should not invest your entire money in Bitcoin as it involves risk. You first invest a small amount of bitcoins and gradually increase the investment amount.

I give you some more advice, I am also a Bangladeshi citizen. Bitcoin is still illegal in our Bangladesh so you need to maintain privacy by investing in Bitcoin. Because if anyone finds out you are involved with Bitcoin then you could be in legal trouble.

Investing in bitcoin with this your saving its not actually a bad plan considering the market cap of bitcoin price today, I feel this is actually a great time to make such investment but the choose is still yours to make because bitcoin is a volatile asset and one needs to understand the whole conditions that follows this type of investment because you have to take the responsibility to any actions that will follow an investment in bitcoin because sometimes newcomers to bitcoin investment actually panic and sell off their investment due to price dip which is actually the wrong view towards this type of investment because the dip actually open more opportunity for the investor to buy and HODL.

I appreciate your decisions and always remember bottom Holders win the race in crypto market. There is a little suggestion for you, if you can do so just invest particularly which means DCA( Dollar Cost Averaging). As we are now climbed up a little bit from the bear market so it's not the perfect period to invest entire funds at a same time. Predictions are prediction they can be real or can't and crypto market is totally uncertain but we believe in Bitcoin which can create another history.

We all know that doing DCA will maximize your investment so try this for a better starting. Again after investment you have to keep your funds fully secured. As we know how much risky the custodial wallets are. So try non custodial open source wallets like Electrum, Mycelium, Blue Wallet etc. Another word I want to add as you are not a beginner at all so hope you have some knowledge about it's volatility and disadvantages. So be prepare to face good or bad days for Bitcoin and invest smartly with proper analysis and risk management.

Wish you all the best for you investment.

It is good that you have started to invest the money in Bitcoin. It is your money and you can do whatever you want to do with it. But here is the thing like they always say in the Bitcoin community to invest money that you know you can afford to lose and secondly 2 do the dollar cost average strategy which is one of the best strategies 4 mitigating the risk involved in Bitcoin investment.

I would say to you that in as much as you have high hopes about Bitcoin if the money you have saved up since the last five years is one that you cannot afford to lose then you should split the money into some parts and invest a portion in Bitcoin. You should do it periodically assuming that there is no other investment that has caught your attention.

Is 1800$ the only amount you have? Investing in bitcoin is a good investment, but investing all of our money in it is not a good idea as the future is unpredictable, so never put all your eggs in one basket. No matter how bad the crisis is, cash is always needed in all cases, so I advise you to have a reasonable allocation to avoid difficulties in life. You should only invest 50% of it in bitcoin, and the rest you should save in cash for everyday expenses and emergencies.

One of the most important things, your country is still banning bitcoin, so be careful with your bitcoin investment if you don't want more trouble.

I understand your fear of having to be a victim to bank closure due to bankruptcy or financial crises resulting from USD palava.
You have exercised discipline in maintaining a savings, no matter how little it is and while it is a wise move to invest the savings in BTC, inorder to be safe from the bank issues that is looming, you have to keep in mind that the knowledge of how to keep and multiply the coins in your wallet, is what that would make you rich and independent.

First understand how BTC functions, how and the best wallets to use, how to keep your keys safe from hackers and scammers and friends who are spies.

You also showed how you built the savings by small consistent input. Same strategy can be applied in BTC and is called DCA strategy. I believe it would work well for you.
BTC is steadier and more reliable, bear in mind too about the halving expected next year2024, inorder to decide if you should start now or wait till later.

My advice, start now, DCA for 5years.  

You've mentioned that you've been involved with Bitcoin for a long time so I can assume that you know the pros and cons and I believe you can weight your decision whether it will be a good idea to invest your savings in Bitcoin or not. To be honest, it's hard to give a financial advice since I don't know your financial status and I am not that familiar with how's your economy doing right now. But if you really want to invest in Bitcoin but still in doubt, then don't put everything in Bitcoin. Only invest what you think you can afford since you might still need to use a part of your savings for something else.

It is a much better choice compared to keeping DPS in the bank, the value of the currency will continue to depreciate and you will lose the opportunity to get a lot of profit in the system previously. Bangladesh has not legalized bitcoin and you have to invest anonymously to protect privacy, but when you have to try to maximize the amount as you mentioned, then it's best to share three things as a step to maximize the money you have, savings, cash kept at home and investments .

You can choose just enough to be placed in an investment and don't need it in its entirety because when you need cash is still available and you don't need to sell some of your investment assets in bitcoin. Uncertain economic conditions caused by inflation and recession can make your money unproductive, placing money in bitcoin is much more appropriate because your money does not lose value.

By itself, investing in Bitcoin will always be the right decision, but as you were warned above, you must understand that you will be violating the laws of your country. Despite this, there are many people from your country on the forum, and it would be more useful to consult directly in your local section. But in general terms, you should not invest amounts that you are not ready to freeze for a while. I think that one way or another, if you create a similar topic here, in any case, you already have a ready-made solution. As they say, there are always ways out of any situation. Be careful with your investments and be patient. One day, your country will probably change its views on Bitcoin.

You need to stop thinking  and start investing.
Your decision  is perfect and I believe  you're intended  to hodl for long since you could do that in the bank.
Since you've been in the Crypto industry  for long now, you should be aware by now that the best way to stay ahead of your country's economic crisis is through saving and investing in digital currencies and let bitcoin be paramount because it is one of the most reliable and since you're expecting  your money today, I will strongly back you to head straight to buying bitcoin  without fear and always keep buying at every stance you get an opportunity  to buy and smile  in 5 years time.

Goodluck.

I advise you not to invest all your money into Bitcoin because, after all, you need cash for your daily life so you won't have a problem if you want to buy something for your daily needs.

You can divide the money into several parts and use the money you can afford to invest in Bitcoin and other money to fulfill your life needs. It will be better for you because when the inflation rate increases, basic necessities will increase in price and if you don't hold cash, you cannot buy those basic necessities.

And it would be even better to earn income so you don't have to worry about meeting basic needs but still use the money you can afford to invest in Bitcoin.

For us crypto users of course, saving money in the bank will have fewer benefits that we can get because depending on the interest they give, then when many crypto users invest in bitcoin and altcoins because they already know the journey of bitcoin and can always provide very large profits even though the risk is greater than the bank but are very confident to invest in bitcoin, And as you said at this time there are indeed many banks that are in trouble so we are not comfortable to store assets in the bank, so the decision you make is very right and I am sure later you will definitely feel the benefits.

Considering the prevailing situation of the banks it is good to move the funds to bitcoin. Bangladesh is one among the country that have made more restriction on usage of bitcoin. Some have suggested to invest partially on bitcoin and keep the rest in cash. By the time you should understand the risks, because when you're in need you can't expect the investment to return good profit as you need to have patience to hold. If you're with a good day job that can fulfill your daily expenses, then it is good to consider it a long term investment and try to increase the holding through trading.

Bitcoin is one of many options to hedge against FIAT, especially in your specific case where the local currency is worsening. Nevertheless, you should take consideration about another alternative besides Bitcoin, because what is concerning is if that amount of funds is the only savings that you got so you better take a precaution about the risks.

Essentially, you are the one who could potentially understand better about which one to decide. I encourage you to gather more information, especially about the risk ratio that you might get exposed to if you want to convert your savings into some investment instruments.

There must indeed be financial management so that there is a division of money for investment in Bitcoin and for daily needs.
Apart from using savings to buy Bitcoin, leaving the savings money in place and buying Bitcoin with a sufficient amount can be for the long term.

If you don't have daily income or for daily living needs then use enough savings to invest.
Don't force the will if it can be for the long term.

Cash is still needed for emergencies.
Add to that a few different investment instruments.

I just want to advise you to do what is appropriate for your current life context, investing in anything should have a calculation and a specific goal, as OP mentioned first Bitcoin investment as well as the main instability story in your locality, I think it is better to have a lot of cash to facilitate life than to use it for investment. I've also witnessed some local lessons when the conflict broke out the banking system didn't work, and it seemed that cash wasn't always accepted either. So some problems like accumulating food, medicine, fuel for life to recover through complicated times, life is much more precious than money, so don't be too hesitant what you will do to make money safe. safe, but do whatever to keep you safe.

As you say, you've been with bitcoin for a while, meaning you already know about the benefits and risks of investing in bitcoin. I think you can decide for yourself instead of relying on our advice because no one will understand what you're going through better than yourself. I can only give you advice that I think you already know, bitcoin is a very promising investment, and it is an opportunity to save us from inflation or the crisis that the government is having on us. But investing is always risky, so never put all your trust in bitcoin, you need to diversify your assets.

If you are well equipped with proper knowledge and understanding about investing in bitcoin, I think you are ready enough to invest. The only question is if ever can you afford to lose the savings that you have now? Because if you are not ready to lose that amount of money well definitely you are not yet ready to invest. Since you said you had been involved with Bitcoin for a long time now, for sure you know what strategy you will follow. The decision to invest or not in bitcoin would probably would be your personal decision, It would hard to seek for an advice then if you lose you will blame the losses on them. Be smart in making a decision make sure you are well equipped.

I agree with this, it must always be a good thing that every one of us will know the risk of Bitcoin if you are putting your money on it.
Because no one will guarantee a win for Bitcoin, no one knows the future.

I also advice to OP that if you are investing your personal savings in Bitcoin, make sure to have extra fiat money somewhere else. And always your personal savings on Bitcoin will be easy to access and safe, like storing it to your personal Bitcoin wallet.

Your decision to also have investment in bitcoins is better than keeping it all in the bank where it will be subject to loss in value from inflation. Buy bitcoins with the percentage from the savings that you can keep for long time until you make a target profit. keeping bitcoins will not be difficult for you since you already have the habit of being able to save money and prevent yourself from spending it when the time comes. Keep some cash that you may need accessible to you, and then plan to buy more bitcoins to add to what you will buy, buying once is good, but it is more encouraged to buy, and keep buying to keep.

First of all do you need this money on other necessity or you live normally without using it because this money of yours is savings while Bitcoin investment requires a lot of time to make a decent profit from holding. Investing on Bitcoin is useless if the money that you will use for investment is needed on other necessity things.

Invest only what you can afford to lose. Bitcoin investment is indeed far better investment rather than put your money in the bank. But there’s a lot of risk involved in terms of price volatility. Evaluate yourself on how you can handle risk for your investment then decide aftwerwards.

Invest what you can afford to lose, that's all I can advise you, personal savings is not enough honestly, I believe that you need an emergency fund aside too because if you keep investing your hard-earned money and some other emergency comes up you could be left with no choice but to sell some of your assets, someone who want to be a successful investor must be prepared for emergencies also, so that you can invest in peace and turn your dream into reality.

Believe me, many things will try to stop you once you have the determination to invest for a better future, you need to be full prepared.

Well it's going to be a bit of a hell experience for you for now. I would advise to just not overdo Bitcoin transactions too much as it could put you behind the bars considering that Bangladesh govt bans the usage of crypto. You said "likely" to go bankrupt which means there are still possibility that there won't be

If you could do personal transaction, that would be better rather than getting your IP detected involved in crypto transactions around exchanges and putting you at risk.

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I am not sure how strict the laws are in there so don't fully take my advice if I am misunderstanding the whole situation.

If you are concerned about the risks of bank failure but are you really worried about the risks of bitcoin, we need to be fair to look at things from different perspectives.
If you are really financially comfortable and this investment amount does not bother you much in the long term, then I recommend you to invest in bitcoin, and wait for it for the next 2 years, I is also quite confident and speculates that at that stage we will be in a new bull cycle and bitcoin could hit a new all-time high.

I see two completely different things there. If you want to do trading then you must be 100% sure you know what you are doing because, on average, 80-90% of the people doing trading end up losing their money, do you have enough knowledge to be better than that? How long have you been studying technical analysis, etc? My suggestion would be to simply buy and hold otherwise you could lose your money very quickly.

I think Op should be focused on the recent economic crisis happening in his country and hold his money for tougher days. Bitcoin price may not be favourable to him at a time like this. Which could cause him more harm if he losses his savings. Patience is the key, when he is sure of his moves not becoming a hindrance to his financial economy in future, he can invest in bitcoin, with lesser fear or doubts in him.

if you have been studying Bitcoin long enough, I think you will have no qualms about putting your money in Bitcoin instead of keeping it in the Bank. If you are still in doubt, you should look for answers to your doubts first. Or you can put some upfront, not all of your savings.
if you are planning for the long term, I think Bitcoin is the best opportunity. I think if you put your money 5 years ago in Bitcoin you could get a bigger return than you would get from a Bank. most importantly, you can trust the Bitcoins you own like you trust the Bank that holds your money.

Only you can make a decision for yourself, as it's ultimately your life, your money, and also we are unlikely to understand the intricacies of your position. If banks are unsafe, I guess Bitcoin is a good option. But that $1800 can become $1k just as easily as it can become $3k, at least for some time. Also, I think what really matters is whether it's safe and simple to sell some BTC for fiat when/if necessary, and that strongly depends on a particular country. Having $5k in Bitcoin instead of $1800 in a bank account is only good if you can spend that directly when needed or easily sell for fiat. I'd also consider the legality of it, as it seems that at least some crypto operations are illegal in Bangladesh.

First, I would ask what your intentions are with that money in another five years. Because if you are Investing in Bitcoin, you must consider the length at which you want to hold your coin. Another thing to consider is the goal of your investment  For example, I have a goal to keep Investing in Bit until I have accumulated at least 2 or 4 Bitcoin so that I can give each Bitcoin, or 0.5 BTC, to the four kids I'm going to have.

We all have different goals or dreams, so if you have set out to invest in Bitcoin, you must have some agreement within yourself to keep holding no matter how tense you become during a bear market or during some emergencies that will require you to sell off so quickly. With the current price of Bitcoin, 0.06 BTC should be about $1800+, so let's assume you hold till the Bitcoin price becomes $300,000, probably in the next five or ten years, because you will be Making a lot of profit then.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

One thing I want to tell you is to manage your finances as early as possible. Maybe the amount of money used to invest is not large; early investment can effectively generate larger profits, which in the long run will have significant results. The sooner you learn how to manage your money, the higher your chances of financial success. When you have a solid understanding of personal finance and money management skills, you have more confidence in the face of challenges. In addition, having a clear income and expenditure plan helps you determine appropriate and necessary spending, save money for the future, and invest properly. Financial management helps to know which expenses need to be handled first and which ones later. You will save and invest effectively every month.

Whether or not this is a mistake will depend on you, bitcoin is a very good asset and it has demonstrated its staying power and its potential, also right now is a good moment to invest in bitcoin as the bull market has yet to appear, so the only unknown factor is yourself, it is a good thing you are already thinking about this, but according to the information you share banks are in problems where you live, so there is a real possibility you may not get paid and as such you do not have the cash to invest in this market.

It's better not to risk them all on Bitcoin. You reminded me of my sister who also ask some advice regarding about putting all of her savings into Bitcoin.

So I just advised her not to put all of it, but rather an extra amount of money that she can afford to lose regardless of the results.

I think the same thing goes to you. Never risk all of your life savings into Bitcoin. Only spend what you can afford losing and treat it as dead money. If you gained, then good for you. Otherwise you just hold it until it recovers and reaches your target profit range.

Firstly do you have another source of income apart from the work you said you have in the back which is $30 per year, because I find it hard to believe you get paid that amount and it amounted up to $1800 which means you successfully save all your earning from you job for five years.

I would really want more clarity before I can throw in my advice, if you had other things that sustain your living as it has for five years then I think you can put your saving in Bitcoin, but the choice is yours and you should know the market is volatile and can drop and rise but I am confident in the future of Bitcoin.

First, don't invest in what you don't know. It's okay to take it slow at a time so that you understand where you're investing your money. Second, $1800 is such a huge amount already and others don't have it and that's why you have to think first if you're pursuant to doing this.
So that in the end, whether it will make you a profit or not, you won't have others to blame but only yourself for doing so because you're the one who decided to do it.

Even when you have been involved in bitcoin for over 10 years like me, it is not an "easy" decision to make because it always has some risk in it. Like if I invest into bitcoin with all my savings right now, what if it falls down right after and takes months before it recovers? Look at 2022, we had one of the biggest drops and that meant that if you invested before that fall, you still haven't recovered from that period, and that's why it's a very hard decision without a doubt. I hope that people do better about it, but it is not going to be easy decision for sure.

This is why it is smarter to ask others, not because you should do what they say, but at least you can get pros and cons of it and compare it yourself, decision is still yours, but at least they can show you something you haven't thought about before.

Due to the reason mentioned above I would avoid letting my money invested at local banks at all costs! During instability times we have to make sure our money is in our hands, and that is something Bitcoin can assure you when you hold your coins inside a custodial wallet.

I think your decision to invest in BTC is right, but you have to make sure it's going to be a long term investment. Don't invest money you are going to need in some months or in a year. Keep in mind Bitcoin is heavily volatile and this volatility can push the price downside for long periods of time (bear market), therefore it's not suggested you cashout your funds meanwhile.

Bitcoin investment is a good and profitable idea but knowing the risks in it, you should not invest all your hard-earned money on it but only a portion in which you can easily afford to lose. That way, even if you lose them, at least you still have spare money to make your ends meet, and to try other investment that will work on you. Investing does not guarantee profitability at all times, that’s why at some point, you have to invest using trial and error method so you will know which investment will perfectly fit for you.

While investing in a coin that's historically shown to appreciate in value like bitcoin is always a wise decision, I wouldn't really go so far as to say that you should bust your whole savings in it cause at the end of the day, you need money for when the rainy days come and bitcoin wouldn't be so secure for that. At least invest half of it on bitcoin and keep the rest as part of your emergency funds, that way you can ensure that you don't scramble around looking for money when shit hits the fan, and you still get to be part of the bitcoin train at the same time.

The recent debacle against banks stray the people's attention away from the fact that saving is still just as important as investing, if you only invest and didn't save you wouldn't have gone anywhere, if you only save without investing your going to have useless bags of money lying around in the future. A little bit of everything is just perfect.

depositing money in banks is just like for safe keeping. you will barely get an interest on this. better put your money in other investments that will give you better dividends. but if the OP will decide to buy btc, he should know the risks involved since he's not new in this market. gaining profits is a possibility but not a guarantee because it depends on when he will sell off his satoshis.
if i am the OP, i will allot some funds on a tangible asset like jewelry and then some in crypto. it is better to have a back up asset rather than investing all in btc.

You are right my friend, investing in bitcoin in times of crisis is not the best solution. Because we won't be able to tell if bitcoin will go up or down more in the near future, and if the crisis in his country gets worse. He needs money to live, then selling the low price of bitcoin only exacerbates his crisis. Bitcoin is a highly volatile and high-risk investment, it cannot be a safe haven to store value in times of crisis. If OP bought bitcoin for $50k, what if he needs money for life now when bitcoin price is only trading at $30k?

At the current market situation of Bitcoin and the possibility of an uptrend after the block halving event next year, I think that investing in Bitcoin today is a smart move.  Thinking that after the block halving the price of BTC surge then it is an obvious situation that anyone who will invest today have a huge possibility to get profit especially when Bitcoin breaks it ATH again.

So based on the pattern of the Bitcoin price market, I think your decision is right in investing your funds to Bitcoin.

As we all know, this is a good thing to do if you can afford losing that amount if anything bad happens. Ofcourse investing would be profitable but risk will as well be present due to market price vplatility and also with issues concerning adoption and usage of this blockchain.If this technologt is not restricted in their country, then this would be a valid option. It also depends on what crisis is present; if it is regarding currency pullback then converting his money would be a good idea. But if it is difficulty surviving daily, then it is not 'coz in times of necessity and urgency, there might be troubles pulling your investments out especially if the price is still down at that moment.

if you have been involved with Bitcoin for a long time then you must have realized the potential and risks right?. i think investing into Bitcoin is a good plan but i can't say whether it's the right decision or not for you it depends on your way.
$1800 is a lot in my opinion so don't just put it all into Bitcoin it's better if you diversify into some other assets too. you can also start investing by DCA.
divide your money wisely and don't forget to save it for an emergency fund too. then also remember your original plan to save your money in the bank for 5 years what was it for? surely you have the original goal, why did you save your money for 5 years right?.

If we no longer trust the bank after the recent failures, we can also save by keeping cash instead of depositing it in the bank. Whether the bank collapses or inflation eats away at our money, we should have some savings, it's a must for everyone because life is full of surprises. If we do not prepare in advance, we will fall into a deadlock.

I really oppose those who are propagating that not to keep fiat money but to invest bitcoin all their money to avoid inflation, currency devaluation...Instead, we should balance investment and savings, not put all the money in the bank, and not invest all of it in bitcoin because everything is risky, and we need to manage the risk for ourselves.

You made the right decision. Welcome to Bitcoin Investment. You saved $30 every month for five years which was a great initiative. You now want to invest in Bitcoin for fear of bank failure. It is true that you are not getting any benefit from keeping money in the bank. In that case you can make profit by trading in Bitcoin? You must be a good trader for that. The Bitcoin market is very volatile which we are aware of. If you lose money investing in bitcoins, are there alternative ways to recover your losses?  As the economic condition of your country is not very good.  In that case, I think it would be better to withdraw money from the bank and invest in bitcoins.

I only put half of my personal savings in Bitcoin but I withdraw them all in bank and instead Keep paper money in me because I consider Bank as a robber lol.

Bitcoin is the best place to invest our money .

Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.

Lots of banks are going bankrupt in different countries, so it’s better you know the amount which you will be leaving in bank, since you have been hearing about bitcoin for a long time then why don’t you just invest in bitcoin? Bitcoin investment is really a nice idea but I won’t recommend you invest all the $1800 in bitcoin, make sure you split the money and invest some part in bitcoin, you don’t have to invest all your savings in bitcoin, don’t invest any amount that can hurt you if you lose in bitcoin, and when investing you should be ready to hold your bitcoin for long term.

Its good that OP has finally decided to invest in Bitcoin despite the fact that he knows about Bitcoin for a long time, "better late than never.". There are many people who knows about Bitcoin but feat to invest in Bitcoin because of different reasons. Overcoming your fear to invest in Bitcoin is biggest challenge in Bitcoin investment. The sooner you overcome your inner fear, better it is.


"Invest as much as you can afford to loose". 1800 USD is almost equal to 2 million Bangladeshi Taka which is quite a money. Since OP is investing for the first time, its better he invest only some part of it to get necessary experience and knowledge.

Its commendable that you're looking beyond the Bangladeshi economy for investment prospects. Bitcoin, being decentralized, is immune to the economic woes of any single nation. Because of this, it seems like a good choice for you.

You are making a forward-thinking move by putting $1800 into Bitcoin. More and more people are starting to believe that cryptocurrencies like Bitcoin and Ethereum can provide superior returns to more traditional investment vehicles. However, one cannot ignore Bitcoin's extreme volatility.

Always keep an eye on the market and only invest what you can afford to lose. Its going to be a bumpy road, but the payoff for sticking with it could be great. Bitcoin is a promising new frontier, and I applaud your guts for diving in headfirst.

I think investing in bitcoin is more suitable than you collecting money for 5 years and if you look at it without interest, while inflation continues to increase. but before you invest in bitcoin, I think it is necessary to study it first, after that you can determine the feasibility of investing in bitcoin, don't just be tempted by other people's stories about bitcoin, but we ourselves must understand, before investing

with economic conditions that are not good, we have to be careful in investing if you have $ 1800 in the next 5 months, my advice is that you have to divide the money so that during an emergency you can use your money
let's say 50% of you save it in the form of bitcoin
25% in fiat that you save in savings
Another 25% you invest in gold bullion
maybe my advice is not so good but i would do it if i had money like you

He knows about bitcoin doesn't mean he understands all about it if he has never learned about bitcoin before, but when he was interested in it, and now he wants to invest. Like many people in the past, when they first heard about bitcoin, they ignored it, but after many times, they started to learn and invest in bitcoin.


Honestly, the recent collapse of US banks is worrisome for their economy, but that doesn't mean other countries' banks will collapse as well. I have not seen a bank in my country go bankrupt. We should invest in bitcoin for the profit and benefits it brings but also should not speak ill of banks, it also does not make bitcoin better. Banking will still be an integral part of our lives, and we will still use it in our lives, whether we like it or not.

I think you have to think about it carefully before you buy bitcoin because in my opinion investing in btc is something risky, but if you are ready with the risk of investing in btc, I think you can start buying btc and use the dca system in purchases.

but I think you also have to think about your needs and your interests in living this life, so I think you can buy btc but only half of your savings, but in this case the decision is yours. I hope your investment in BTC goes smoothly and I hope you get big profits.

I did a quick google search, and it seems like Bitcoin is considered illegal in your country.
Are you sure about your decision? Are you sure that you are willing to risk your life, your savings, and everything just because you want to invest into something that's considered illegal to your country?

I'm not encouraging you to invest into Bitcoin especially if it's banned. It would be better if you will just invest it into other assets like the Stock Market or Bonds if you want. Yes Bitcoin can give you higher profits in the long term, but the risk, the feeling of getting anxious, the feeling of always thinking "what if I will get caught that I have Bitcoins?". Those mixed feelings might affect your whole life. I know that the economic condition in your country seems bad because of several reasons, but it would be better if you will just spend that money, and go live outside your country if you really want to invest. If you believe that you can still get a job even you live outside Bangladesh then do it.

I just hope you a good health in the end.

Yeah, I've remember Bangladesh does not allow crypto trading and it is against their law and that will make the OP's financial status to be difficult he put all these money into bitcoin.
Though there are ways to prevent from getting sued by the government while you're secretly trading in Bangladesh since there are a few exchanges that works in their country, but this will add to the risks bitcoin already has.
So, the best advice for the OP is to just put like 50%-60% of his money to bitcoin and keep the rest for emergency purposes.
That would be the least risky move I've come to think of so far.
It's kinda difficult to get caught trading crypto in a country where it's deemed illegal.

Glad to hear you decided to save money in Bitcoin after going through a long process. If 5 years ago you had started saving money in Bitcoin instead of in a bank, I'm sure you would have gotten more profit after seeing the price now. The increasingly difficult economic conditions require you to be more careful in choosing a place to save your money, at this time a bank is definitely not the right place. Withdraw all the money in the bank and then start saving it in the form of Bitcoin, you must be sure of the potential stored behind Bitcoin. Banks may go bankrupt, but Bitcoin will grow in the future.

The cryptocurrency market is really fluctuating for a long period of time, which the Bear market is going to be close and enter Bull Run market, which every one has to seat up by investing Bitcoin and hold for a long term, in other words nobody knows actual time Bull run market is going start, but is a good idea to make some shavings by investing on Bitcoin and hold in the wallet that is going give more profitable business than leaving you're hard earned money in the bank, that is not going to yields any interest, but rather bank will be taken transaction and ATM maintenance change fee's and money Keep depreciating, as a wise person and is a right decision to invest in Bitcoin as the crypto market is down.

What do you mean by personal savings? I believe part of your savings is what you should use to invest in Bitcoin, not all your savings.

If this is what you do I hope you understand the risk, your personal savings can go way down like 30% and I do hope that won't make you get worried.

The best advice is invest what you can afford to lose, let's not pretend as if Bitcoin investment is risk-free, the risks are still here because Bitcoin is created in a way that the price can't ever be stable.

For five years you have painstakingly deposited some money in your deposit account every month and now you are relying on Bitcoin without relying on the bank, that means you must have gained enough knowledge about investing in Bitcoin. Since you have earned this wealth for five years, you should have invested half of your net worth in Bitcoin and the other half in a savings account. Because if you lose by investing, you will get good support from the saved money in the future because after you invest in bitcoin, if the price of bitcoin falls a bit, you will not be able to sell bitcoin anymore, so 50% investment might be a good decision for you.

It's a good opportunity while the market price of Bitcoin still didn't skyrocket, there is still a lot of time before the bitcoin halving meaning you could still accumulate bitcoin for a good profit in the Bullrun. If you're going to check the history timeline of bitcoin every halving you could easily notice that the market price every time after the Bitcoin halving event always skyrockets. I mean you don't really need to invest a big amount of money when you're going to start if your dollar cost average to lower your risk of losing your money, 100$ or even lower might be a good amount for starting and then you could just accumulate just like saving your salary or your money but the only thing is your putting it on Bitcoin for a potential profit compared to saving that has a very low interest.

Start your journey since you already have a lot of knowledge of cryptocurrency you already know what you're going to do, also you have this forum that you easily help you if you encounter some problems.

Pursue your decision because that’s the best thing to do when fiat is struggling to achieve its high value. However, my only advice is to never put money in an investment that you cannot manage to lose because once it’s lose, it will always be considered a permanent loss. That is why only invest at a small amount at first and once your principal amount has compounded, then start to adjust and increase your position to achieve higher returns.

Since you have decided to invest in Bitcoin, you should withdraw your DPS money very quickly and invest it in Bitcoin instead of depositing it in the bank. I am also a resident of Bangladesh and I am aware of the poor condition of the banking system in Bangladesh and any time your money may be declared bankrupt by the government. If you invest your $1800 in bitcoin and save it for five years in the future, I can say for sure that you will get your $1800 profit in about five days. But without further delay, you can contact the bank and withdraw your DPS money as soon as possible.

Investing in Bitcoin is one option to take but never I say you should. Why? Because considering your situation. you still have doubts and less experience and these are the factors that you will fail and lose your savings. I suggest studying more about crypto and making a decision with all of your heart and no doubts because it was hard if there are uncertainties in you. You can't live peacefully and keep bothered especially when you will see red on the market. Only invest when you are totally ready and are willing to understand the volatile nature of the market.

That's the negative side of saving your money. After years of saving, the real worth of your money is lesser due to inflation. Even the interest rates of the banks are just way too small to offset inflation, especially for a country that has a struggling economy and you just mentioned that Bangladesh is facing financial problems.

Just like you, I also wish I knew bitcoin as early as possible. But there is no such thing as late in bitcoin these days. We're still in a bearish market and we are expecting it to recover starting next year.

In his case it's more complicated than simply earning tiny interest on deposited money at banks, because there is a real risk of losing the entire deposit as banks on his country, Bangladesh, are going bankrupt. And I fear if the bank where the deposited his funds crash, he isn't going to receive his money back, as the bank or the government is going to confiscate it. In crisis times we can't consider banks as a safe keeping. After all, if the money isn't on your hands, rather it's on middleman's hands, money isn't totally yours...

With the amount of $ 1800 in my opinion too small to be diversified, let alone divide it into 4 parts it will make the assets a little, for example as in Bitcoin, he will only save it $ 540, in my opinion it is too small in the investment scale. It is better for him to keep it all in Bitcoin by using a DCA strategy, for example 10% or $ 180 per month which in my opinion is safer and more likely to benefit, moreover we will see Bitcoin Halving, of course the potential is greater, after all it's a savings fund that he might not be too requires it for short -range needs except the situation it has the opposite.

Never invest all your money in crypto currency. You should invest 50℅ money so that you can start new business with other 50% money in case of loss. Moreover btc price has increased a lot now and if it goes down in the future you can lose a lot. Don't be the last to invest and don't make the crypto market the first to trade.

Bangladesh is a poor country just like my country and you say $1,800 isn't much? Really?

Investing into Bitcoin at a time like this will be a great decision you will be making. Apart from the fact that the market is expectant of a bull rally soon (that's if we aren't in it already) because of Bitcoin halving next year, putting it in it serves as an anti-inflation strategy. Cash poured into Bitcoin never loses its value.

You have been involved in bitcoin for a period of time and that means you have been investing in bitcoin all these while. And you are yet to invest. One thing you have to know is, you can't invest bitcoin here. There is no investing board here. You can only ask for advise to invest and not to invest here. And it is not Bangladesh that have that inflation problem. Though I don't know the Bangladesh currency exchange rate with dollar if not other countries are also having the same problem.

Great thinking. Bitcoin investment is more profitable i think. You want to invest on Bitcoin it will best decision there has no doubt. Your DPS will be matured within this month and you want to invest on bitcoin it is best decision i thinl. Because in your country bitcoin is still illegal. And you could not trust on your local bank. So overall considering my advice Bitcoin investment is better for you. And i think your Invest on Bitcoin  is appropriate. I think it will be best use of your money.

Do not place all your wealth in one place if you intend to invest. Bitcoin has the potential to bring profits in the future, given the possibility of price increases. Surely you have considered that there are many inexperienced individuals who have tried investing in Bitcoin and suffered losses.

I would highly recommend you to allocate a portion of your wealth to Bitcoin. As for your other assets, you can invest them in other options such as gold, which has proven to be resilient against inflation since ancient times. Alternatively, you can also invest in stocks while considering your risk profile.

Way to go actually! Really pays you to listen to the news sometimes.

In any case I'd highly suggest you liquidate some of that money you got into your emergency funds if you have any, and then the rest can be saved into bitcoin. That way you'd have money you can play around with should things worsen in Bangladesh without having to touch your bitcoin investments yeah? I'm thinking you should also look into investing into other forms of assets like real estate, that way you can diversify your portfolio and maximize your profits while minimizing your potential losses. As we all know bitcoin's great for long-term investment but if you're looking into short-term profits it's not really the best one out there no thanks to its high volatility rate, so following these advices will surely give you the best chance at claiming profits even if Bangladesh's situation worsens.

If your life savings are not at stake, you have the freedom to invest in Bitcoin. However, it is crucial to conduct thorough research on your own. It is widely known that Bitcoin investments come with inherent risks, and it is important for you to be well aware of them. Bitcoin is a highly volatile cryptocurrency, and it may take a considerable amount of time before you can see profits from your investment. Furthermore, it does not guarantee financial gains; there is also a possibility of losses. Therefore, it is essential to be mentally prepared and invest only what you can afford to lose.

The world is still not fiat less. Also, Bitcoin is not a currency that has been adopted around the world. And you are talking about Bangladesh. Mate, I am from Bangladesh too. I can understand your situation. But always be cautious. The current situation of banks is getting worse day by day. It will be no surprise if they file bankruptcy in 3-4 months. We are in a situation where we are unable to choose either side. Crypto will put you in trouble and you might get put into jail. Just owning cryptocurrency of any kind can lead to this situation. So you need to keep your privacy safe first.

Then there's the problem of bankruptcy. If you withdraw the money from the bank, you may keep them safe to yourself. But the value will decrease over time due to inflation or other events.

What we can do in this situation is to keep both as an option. Divide your assets into multiple sections. Invest in multiple places. Land, metals (gold/silver), other businesses, etc. Keep some assets in fiat. This will help you in emergency situations. Also, you can find more opportunities and invest in them later on.

Lastly, the most important thing. Are the money you are willing to invest something that you can afford to lose? If that's not the case, then don't do it.

Like you said your savings is what you wanted to invest in Bitcoin but my question is if you have another source of income from these savings because you can't invest all your savings without having a stream of another income, if yes you can happily and rejoicingly invest your money waiting for your investment to grow.

While I am agreed about we must have cash and have bitcoin  but putting funds in bank for cryptonians like us is a big no no, the reason why we are in bitcoin investing is for not having a 3rd party interference so what about that banking ?
and also instead of telling to have some in banks? better to have it as cash than entrusting your money in bankers.
even a whole year expenses that is the reason that people needs to have their money on hand always ready and only spare money will be for crypto investments.

What I can say is that every Bitcoin investors have a different purpose or reason for investing in BTC and for some people it's just an investment for futuristic benefit but for people that understand the technical expectations of it, it's an alternative to escape the centralized abusive regulation.
Yes, it's a big no for every BTC investor to keep funds in the bank but everybody has the way she maintains her risk management.

I think it's a fantastic idea that you want to invest in Bitcoin instead of leaving it in your bank, it's the same in my country, the quality of banks is mediocre, and basically keeping money in a bank where I live is a waste of money. . . That is why I also opted for BItcoin, it seemed like a way to make my money work in the long term, however I see Bitcoin as an investment method while if I want to save money so that it does not devalue, I do it in USDT, it seems another way to me safer option than a bank... on the other hand, if you plan to invest all your money in Bitcoin, I would not recommend it very much, leaving all your hopes pinned on an investment is not a good idea... You know what they say, no you should put all your eggs in one basket

Knowledge is power, there are other things to invest in apart from bitcoin, it's not necessary that we should invest our money in cryptocurrency. Investing all your personal saving in bitcoin, is definitely not a good decision and not advisable as a trader, bitcoin fluctuate alot in the market, we have volatility everywhere specifically in the bear season. I can only boldly invest in bitcoin when I'm certain about the hugh sums in my bank accounts and established businesses. It's always good to have multiple streams of incomes,

I have laid out a general portfolio distribution and it depends on OP how he has to invest his savings.
In OP's case I would rather advice him to invest in bitcoin or gold or may be equally in both.
Since he mentioned a dollar fiat crisis in his country he should have some plan to liquidate his asset in case of emergency.
Gold will be a suitable option in that case.

I would go with 30% of my fiat money in Bitcoin and rest in real fiat as you might need it real emergency. Bitcoin is a great investment however for that, you need to think a bit for long term. It's not a shortcut to tackle the high interest rates and low value of your fiat around the world, it's more than that. There are companies accepting Bitcoin and the Binance Card allows you to spend money on VISA accepted platforms with Crypto/Bitcoin. If it's not yet there in your country, I wouldn't recommend keeping more Bitcoin as compared to Fiat.

You said trading while also wanting to invest your money here; are you talking about the same amount of money, or do you want to divide the money you have into two, one for trading bitcoin and one for investing in bitcoin? Because, dude, trading bitcoin and investing in bitcoin are not the same thing. I believe you should focus on one; however, investing in bitcoin is a great thing if you are willing to take the risk that generally comes with the investment; nevertheless, before investing, you should do more study about what you are going to put your money into for your piece of mind.


I don't think it's appropriate to counsel you on what to do with your money, whether to invest it in bitcoin or use it in another way, so because you indicated before that you've been involved with bitcoin for a long time, I believe you'll be the one to determine whether to invest or not.

The cryptocurrency revolution hasnt taken off yet, but it is. See Bitcoin. From nothing to a big name, it inspires amazement and mistrust. Its our future. Bitcoin and other cryptos can replace existing banking institutions should they fail. VPNs and digital wallets protect privacy. Smart transaction timing is crucial.

Crypto, like everything else, has hazards. You're right: diversifying investments is the key. Invest in tangible things, cryptos, and fiat for emergencies. Balance your portfolio. Finally, never invest more than you can lose. That wisdom is timeless.

With a serious approach, you will succeed with the right measure of self-discipline in investing. It is important to choose the moment of purchase. Let you have recently been on the forum, but I advise you to read and study the information in local trading topics, experienced people there will advise when it is better to buy bitcoin. After all, if you do not study the technical analysis of bitcoin charts, you can buy at an expensive price for the current moment, and after a while your deposit will decrease.

This is my guess:

https://ip.bitcointalk.org/?u=https%3A%2F%2Ftelegra.ph%2Ffile%2F1c9f1f93358e3050c4fbe.jpg

For example, here is my forecast. You will see a description on the link. I will not duplicate it in translation. Translate it yourself from Russian, maybe it will be useful information for you.

https://bitcointalk.org/index.php?topic=2235093.msg62517470#msg62517470

Are you familiar with Bitcoin or are you just hearing it but have not interacted with it? I will assume the former. Bangladesh^[1] is doing anything to get dollar to meet up with the volume of petrol the people are using in the country and there has been instability with the rate of export and this is why the dollar has become scarce but that amount you invested for a period of 5 years is too poor, I'm not a rookie but if you have invested that money in Bitcoin for every month to now, you will have been proud of yourself but better late than never.

Lets forget the past tence and discuss the presence, you can use your savings to buy Bitcoin but I wouldn't advice you to use everything. Divide the amount into half and buy Bitcoin and keep the rest pending the till the end of the year, if there is decrease in price prior to that period, use the rest to buy Bitcoin and if it never comes down, still buy because no matter what, you will make some money out of it because halving is the leverage that will protect you from losses for short term profit.

[1] https://www.reuters.com/world/asia-pacific/bangladesh-struggles-pay-fuel-imports-dollar-crisis-worsens-letters-2023-05-22/

What I have observed regarding crypto investments is that when you have goals and desires related to crypto investment, you won't be afraid to risk everything on bitcoin and other crypto projects that fascinate you. You will continue to believe that what lies ahead for your crypto investment is worthwhile for you to take a risk now in order to achieve financial freedom. I can tell all this from what you said that you enjoy doing.

Since you have trained your mind to not be swayed by the price of bitcoin or other altcoins you want to invest in or have already invested in, I wouldn't suggest someone who lacks the mental fortitude to pursue the same action as you. Whether or not it will be financially advantageous for you or them.

Before investing in Bitcoin make sure you have a thorough knowledge of what you will investing. If you are hesitant and you still don't understand your decision you try to invest in a small amount because actual trading could be the best teacher. Also make sure that you will invest only what you can afford to loose. Never  invest all what you have you can diversify it or do the dollar cost averaging. Think so many times before investing so that you will not regret it what ever happens to your investment. Assess yourself if you will keep that investment for a long time or you just wanted to do a fast trading. The decision would still be depends upon you.

Congratulations, you want to invest in Bitcoin without keeping money in the bank. If you invest long-term in Bitcoin now, you can get very rich from here. Investing in Bitcoin without keeping money in the bank will be the best decision of your life. Bitcoin is the best for investment. Nowadays many people are losing trust in banks. Because currently many banks are going bankrupt. But there is no possibility of Bitcoin going bankrupt. So many people are now investing in Bitcoin. The value of Bitcoin will increase significantly in 2025. In 2025 the value of Bitcoin will rise to around 100k. So instead of keeping your money in the bank, invest in Bitcoin now. You can achieve great success in this.

because most beginners also just go along with friends' suggestions or what they see on social media ads. they purchase assets at random for their investment. even using money from the needs they have.
the basic concept of investing, they will benefit if they choose the right assets and also have the patience to achieve their investment plans. many beginners think they want to get profits in a short time by investing in Bitcoin. and clearly it is the wrong owner.

Investing all the money we have in crypto will prevent people from meeting their needs and it is better if the portion of the investment must be adjusted to daily needs and other needs, so that our finances can be balanced and not burdened when all the money we have is all transferred to investment because We never know when our urgent needs are needed at a certain moment. I personally put 35% of my money in investments, 45% for living needs, be it usual for health and children's education and another 20% for savings. In my opinion, the portion of money cannot be completely placed in one channel and indeed there must be a separate portion that must be separated according to needs.

Because if we put all the money we have in investments then how can we possibly offset our daily needs for the process of our life's journey. Investment is indeed very important to push us to reach the stage of financial freedom and investment accuracy must also be patterned correctly and precisely because everyone needs a strategy in running it.

And also, they just based their decisions on some influencers online without doing their own research. Most of those who lost their money did so because they followed the advice of the influencers and jumped in on the hype, blind to what was really behind those coins. They just heard promises of the actual price, but it turns out it would not be listed on the exchange. But again, people are now more cautious than before, and they mostly criticize the influencer if they introduce a coin to their followers.

I have to agree with you. Bitcoin is a highly profitable investment but we should not forget that it’s highly volatile too, and anytime the price will drop again inevitably. So never put all your funds in a single egg. Learn to diversify as well. I suggest you put small amount of funds in bitcoin at first, and when it progress, increase your size position using your profits until you maximize your bitcoin investment through DCA. That way, you will manage the risk and reduce your chance of losing.

It makes sense if you look at the conditions you described for your country to move because this can also be one of the security and comfort for you but in this case you have to pay attention to something else because what I often read and what I know so far, your country is still not too friendly to bitcoin so in this case of course you have to be more careful because it could be that what you do violates the rules of the government so you don't get another loss from this even though there are several other friends from the same country as you also still in bitcoin on this forum.
Being in bitcoin still has risks but when looking at the conditions of the current economic chaos the best way to move is the right choice.

You cannot earn much profit if you keep money in the bank.  Investing in Bitcoin will definitely be good for you.  But I think it is better not to invest your entire money, you can keep some money invested in bank if you want.  If you have gained enough experience in Bitcoin investing then be aware of the risks. Now is the right time to invest in Bitcoin as we are in a bear market.  But hopefully we will reach a bull market very soon.  But the remaining money should be invested while maintaining financial balance.

That is a very interesting project for yourself and your savings plan. This will definitely work for you since you are going long term with this. You will be making nice selling entries with optimum price range. This means you are going to do dollar cost averaging with this type of savings. If it is five years plan then you can easily consider around 20-30% yearly hikes in your investment. If you start doing compounding investment with this then I am sure you will be able to earn even more than that. With the five years of Timeline it’s gonna be huge for sure. Good luck mate and welcome to holders group.

How many banks have really go out of business because of bankruptcy in your country? And where are you from I will like to know because this claim feels like a false to me, since I was born I have only know 1 bank that closed down and that's like 1 out of 12 banks that are functioning perfectly for years now.

My parents kept all their money in the banks and they are older now, till this day not a single bank when bankruptcy on their watch, why are people talking about bankruptcy like it's something that happens every now and then?

Instead of advancing this person to invest what they can afford to lose in Bitcoin because of the risk you are praising him for investing all the money he keep In Bank into Bitcoin, that's a very wrong way to invest in anything, I still keep money in the banks for many other reasons, I need Fiat to make transfer to buy things I can use, I will like to know what he use when he needs to buy something for himself or his family.

Sometimes you don't get to blame them for thinking such because they might have been probably told the wonderful news that follows a bitcoin investment by a friend and all they could imagine is the huge profit they calculate will be there if they invested. Most times these advice are from people who have benefited a lot from bitcoin but the major issue is they don't actually explain to these newbies the risks that follows when you invest in bitcoin and again most of the newbie are just lazy to their own research they prefer going through shortcuts in life thats wanting to have huge earnings without probably taking big risks.

This is the reason why some newbies really fall for most ponzi schemes: they are always looking for shortcuts to earn quick money, and they land themselves in some huge losses of assets. The worst mistake that some of them even make is to get convinced into believing that Altcoin is just the same thing as Bitcoin, and by the time they also hear the 1000x profit story of some alt, they will just sell their minds to greed and buy shitcoins, thinking they are Investing in Bitcoin.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

The decision is all yours investing is your own decisions dont lean on to others because they will not suffer if your money is lost do your own research and be more careful because not all investors earn on investing,it is crypto everything here is very posible the price is always moving or unstable so decide by yourself for good.

It’s a good thing that you have high faith in bitcoin because that will somehow help you to seize every opportunity that comes, and stay fearless on taking some risk. However, investing all in may not still guarantee huge profits in the end. Instead, diversify your investment like try to invest in bitcoin, and then try your luck too in real estate or bonds. That is a good way to maintain yourself from profiting and to avoid yourself from losing a lot.

I think even though one person has faith on his investment, he must learn about the investment thoroughly.  This will strengthen the belief he has on his investment and can be able to decide when he can take profit and reinvest on it again.  Like for example, Bitcoin being known to have a 4-year cycle can enable a trader to take advantage of the cycle and take profit every interval like selling when Bitcoin is about to reach ATH and reaccumulating when the Bear market is at its bottom getting more Bitcoin than the how much he sold when it was on its ATH.  This way the trader is able to get money and at the same time accumulate more Bitcoin than his previous holdings.

We have to think about the safety of our investment and on his part, it is something he needs to look at because his leaving in a country where the government has no support for crypto. If I have a plan to invest in Bitcoin it should be minimal considering that it was not totally legal. It is better to use it in running a business where at least we can assure that the government won't touch and questioned it. It was the legality of Bitcoin is the main concern and we can't afford to risk any as we are not sure that someday the government will seize it or ban Bitcoin.

I understand why people are investing their money in the bank because it's the safest way to do with the money they have. It's dangerous to carry money or put money in your house, so it's practical to save it in the bank. Those people who do not know Bitcoin will say that it's scam and not secured. Actually, investing in Bitcoin is very safe especially if you put the private key in the safe place. No one can stole Bitcoin from you as long as no one knows the private key. We don't have to afraid in the volatility because this is the reason why we have a chance to make our investment double in just a short period of time. So I suggest you to invest in Bitcoin but the decision is yours.

Since you've been waiting for four years, I'm prioritizing your opinion right now. You can safely invest in Bitcoin because Bitcoin is most profitable. And less risky than fiat money because the government is very vulnerable due to your lack of domestic financing which can take money from the bank at any time. So at the best time you have made the right decision so definitely follow this decision which will double your money in next two years. Thousands of people like you have invested in Bitcoin so it makes less sense and the benefits are double.

What is DPS?

PLEASE DON'T TAKE ADVICE FROM RANDOM PEOPLE ON THE INTERNET

I keep seeing posts like this and it scares the hell out of me, because the amount of idiotic shit I see people say as "advice", is overwhelming.  You need to meet with a financial advisor, someone who's licensed and credentialed, and someone who can provide help in what sounds like a tough situation. 

As I have many time before, I'll open my DM's to help you with your financial plan if you'd like.  I'm a long time advisor, who's fully licensed across the board.  I'm happy to help.

Saving money in Bitcoin is the right choice in the midst of uncertain economic conditions, immediately withdraw all your money in the bank and then convert it into Bitcoin. You can control your assets every day without having to use bank services, besides that your assets will be safer than you entrusting the bank which often goes bankrupt.
They do not dare to publish what actually happened for fear that the level of public trust in the Bank will decrease, the situation that occurs cannot be separated from the role of the government behind it. Never hesitate to invest your money in Bitcoin, in the midst of an unstable economic condition like what is happening in your country, Bitcoin is the right solution for saving money.

Do you put all your savings in bitcoin? Have you ever thought about what happens when you put all your savings in bitcoin and bitcoin gets dumped? I don't think your advice is really wise. Bitcoin is very volatile and it is only suitable for investment, it is not suitable for saving money.

If your country's banks are no longer safe, you should keep cash, gold and bitcoin. I mean, you should diversify your assets, don't put all your eggs in one basket. Cash for everyday needs, savings for emergencies, and bitcoins to invest.

In fact, this is a very small amount so that you can count on a good profit, but everyone invests as much as they can and how much they can. And you are right, it would be good to leave some kind of reserve from this amount, for unforeseen expenses, or perhaps even for everyday expenses, if these are all available funds.

To get a good result, you should also think about increasing your investment, because if you invest 1k in bitcoin and it grows to 100k, investments will bring only a few thousand, this can hardly be called a good result. Otherwise, the market is now entering a phase where we see good growth and there is a positive, perhaps a bull market is already beginning.

You choice is good to invest own asset in Bitcoin.I understand Bangaladesh economy condition and Bangaladesh mainly bankr are rupt so this situation asset invest in bank is very risk.Bitcion is Decentralized and it profit hi very high as compare to bank . But my advice if you invest all asset in Bitcoin so you have make longterm investment from Which you can good profit .
But bank invest and Bitcoin investment very different because bank pay a fixed profit and provide AP security own customer and Bitcoin investment is you mind gaming and your   analysis form  investment .so it can also be a risky.

I've always believed in Bitcoin as "digital gold"! Bitcoin, like precious metals, may hedge economic uncertainty. This doesnt mean you should liquidate your bank accounts and buy Bitcoin. Thats like plunging straight into a pool without checking the water level - fun, but dangerous!

Bitcoin is promising yet volatile. If the market flips, its big rewards can turn bitter. Banks are regulated places to hold money, despite their untrustworthiness. I understand your concerns about bank transparency and the government's role, however holding all your assets in Bitcoin may expose you to a different risk.

I propose a cooperative strategy, a balanced portfolio comprising Bitcoin, traditional assets, and possibly some promising cryptocurrencies. Thus, we may enjoy Bitcoin without risking anything.

To be honest using savings or savings to get a share of this Bitcoin investment is good, and actually choosing Bitcoin in a larger percentage when compared to saving elsewhere we think Bitcoin is far more prioritized.

And I will do the same with you when you have decent savings, even if not in too large a quantity, but in this case we are more likely to split in the sense of using part of it to become Bitcoin investment assets and half of it for fast-need deposits in the form of Fiat in the country Alone. and the situation of self-needs also need to be considered.

I do not find any bad moves by @OP in thinking to invest his $1800 to bitcoin.  It is from some earlier investment and I believe @OP have his own job to maintain his financial needs and at the same time save some cash money.

I am also against an all-in act in an investment because a person needs money to maintain the expenses for his basic needs. I also think that a person must also save some funds for emergency and unexpected events.  But if a person have the luxury to invest huge money to Bitcoin without affecting the budget for his basic needs and emergency savings then I think there is no problem in investing to Bitcoin with the said huge amount.

Do not invest your entire savings in bitcoin. As you already know that Investing in bitcoin is also a risky endeavor cuz of its volatility especially if you're uncertain about its potential outcomes. Given the circumstances you've mentioned, where traditional banking may face challenges, diversifying your investments can be a prudent approach. I advice you take half and start up a small business over there (i.e if you currently have no job doing), study the market, look for what's trendy and start up in a small way. You can invest the other half in bitcoin and hodl while you hope for the best.

It is better to base on right decision at right time. Because now is the best time to invest in bitcoins since you are trying to buy bitcoins with your saved money the objective is successful. Because at the beginning of this year, the price of Bitcoin was around 15.5k dollars, but currently the price of Bitcoin has exceeded 31 thousand dollars. So you can calculate yourself in the span of these few months it is never possible to get this benefit in double profit bank. So invest in Bitcoin fast and keep getting share of profit. @OP you have taken the right decision and very soon you buy bitcoins with your savings and hold long term.

Personally, has many advantage when saving fund invest in bitcoin than holding in the bank although as deposit fund because profitable earn under 5% each years based on in our Bank country. But difference profitable earn comparison when saving assets in bitcoin because one year later more than 30% until 50% depend investing in the right time.

I think OP have right decision by investing his personal saving fund to investing in Bitcoin, but you need back up fund when moment Bitcoin price as your assets going drop without have to sell all bitcoin assets and still have another saving for something urgent needed. Difference with OP have passive income from side job and investing saving fund in bitcoin will grow up one day later without have to sell when price down.

A really very risky move to be done when you do have considered on investing your entire savings on Bitcoin which we know that there would be no guarantees if we do speak about profits because this

market is really that truly unpredictable and there's no way that we could be able to determine whether we do make profits or not on long term and also the profits you would made ever would be entirely
be depending on how much you had invested on the first place. If you have invested less then expect that you would get less or not with those huge multipliers in terms of gains but it doesnt mean that
you should be putting all of your savings on Bitcoin which i would say that it is really a risky move to be done because there's no assurance on this market on this regard.

Invest on what you can afford to lose as always because on the time that you would be experiencing failure then it wont hurt that much unlike if you do go all in then
you would definitely be that devastated if you have put it all which it isnt really that recommended in the first place.

I like to believe that there isn’t a right time to invest but obviously there we’ve got times that brings the lost benefits in the cryptospace. There are times that presents you with the most benefits if you’re able to hodl until it materializes. Unfortunately, the FUD that follows such peril times always seems over powering or convincing to most as a result, they fail to invest and that be a cause for regrets or Jen the market finally goes on a bullrun with price pump.
For those that aren’t able to pitch there tent on a precise decision, using DCA happens to be one of the best means to have your thing going while you engage in other activities that would increase you and enrich your portfolio.

Being able to save about $1800 for 5 years means you can survive without this money and is likely the money that you can afford to lose. Investing in Bitcoin is a good idea since your local fiat currency is going down in value due to inflation and Bitcoin is an inflation hedge. All I have to say is that investment in digital currency like Bitcoin is risky, and you should be aware of that, don't go all in, invest with good DCA, and be patient with your investment just as you did with the money in the Bank.

Thats really a good saving. As stated op is able to have his life moving without the help of the savings. Investing into bitcoin is really good and the right choice. All around the world inflation is a big problem and op have taken the right decision. Whether it is bitcoin or something else, we shouldn't expect the return out of the investment at the shortest and it need to be given time. So long term focus is much important and we should be careful to enjoy profit, if there is growth happening in between.

Since you have been familiar with Bitcoin for a long time, you must have good experience about it. If you bought Bitcoin and held it for a long time, you definitely made a good move. But since you are thinking of investing in this early stage then you need to be a bit experienced about the volatility of the market. Since you have been involved with Bitcoin for a long time, I think you have a good grasp on it. But the advice I will give you is that you better get a good experience with Cryptocurrency and later invest in it you will be better off. If you want to invest, you must first start with a small amount so that the risk is less and hold the invested money patiently.

It took him 5 years to save $1800, which means he could still live without it, but he wouldn't be willing to lose it. Because if he loses it, it will take him another 5 years to save, if it were you, would you be willing to lose it and spend another 5 years saving again? Bitcoin is a potential investment, but that doesn't mean you won't risk or lose money investing in it, so it would be a bad idea to invest all your savings in bitcoin.
Don't forget life is full of surprises, and to minimize risk, we should diversify our assets, why not invest 50% in bitcoin and 50% in savings?

Your decision to invest in Bitcoin is absolutely right. Bitcoin is the only crypto currency where you can make your investment without worry. Many people still keep their money in the bank because they believe that their money is safer in the bank. If a country's economy is weak, then after their currency devalues, the value of their money also decreases. As you are talking about your country's bank there are risks of their bankruptcy. Investing in Bitcoin puts your capital under your own control, and whenever the price of Bitcoin rises, the value of your capital will also increase.

The only thing you have to be careful of is that whenever you invest in Bitcoin, try to take an entry at a good time, because right time entry can give you good profit. I appreciate your decision to invest in Bitcoin.

That only proves that beginners are not aware and not really ready to invest in the potentials of bitcoin. But due to their high greed, they decide to invest quickly and expect immediate profits even if the knowledge and experience are not present. That’s why most newbies end up failing and losing their capital, simply because they don’t know what they are investing of and they don’t have right attitude towards bitcoin investing.

I appreciate you decision and appreciate you analysis for Bitcoin.Expart analysis says that if look all  market position and Bitcoin price is about to begin bull because whenever doller crashed the Bitcoin price bull and Doller bull Bitcoin price crashed .If look the expert analysis and charts so the doller is crashing so we hope the bull run is coming in all crypto market and Bitcoin . So I have the same advice for OP If you will  good profit form Bitcoin so this time is right to investing best of luck OP.

Good decision you have taken. In my personal opinion I think that the way the inflation is increasing it will be always good to avoid your fund to deposit on the banks. Because I think depositing on bank I.e. holding your fund on fiat currency is just to decreasing your fund value. So in this case Bitcoin can be a good solution for this it is secure and can be more beneficial for the long term investment. Good luck to you Hope you can gain a good amount on the bull

Good decision to invest into Bitcoin, or let's say cryptocurrency in general. As everyone has already rightly suggested, don't put the whole $1800 into crypto. Keep portion free to use to meet other life needs. Also, the amount you're investing shouldn't be only on Bitcoin, diversify your investment, if you have a broader knowledge, You can also put some in stocks and metals.
From my own pov, given the market conditions now, I think you're better off with regular trading, long term right now is uncertain. In all you do, stay smart and make good moves.

Bitcoin is unpredictable. We don't have a fixed date here to tell if when is the pump will come. We might earn a profit after a year or two or maybe earlier than that. A personal saving fund is already a saving so I think it doesn't make sense if we will still put it into Bitcoin but if we do, better to not go all in because investing in Bitcoin still has a risk. Investing gives us a passive income but it's not a form of a job.

A job is when you do it daily but it's better to have one before we start investing so that we won't touch our assets easily and we can be able to put more money into it using our salary. We can also set aside some to our savings account.

Making money is not the same as keeping it because investments are taught well in school. People walk away from hard times, I embrace them. Those who are new investors should be careful about all these factors and should be careful of new purchases especially during inflation. Such high yield in this downturn is possible only under the supervision of a professional or trusted advisor. A man must have his own decisions but as a noob it becomes quite difficult to handle all this and being aware of that becomes the main factor.

Same here.

I will never put it all in Bitcoin unless OP has still another source of income that will prevent him to sell his bitcoin at whatever price whenever he needed cash. Though, I will never put any money on a bank, I'd put the $1000 in bitcoin and keep the $800.

To answer OP's question, investing in Bitcoin instead putting his money in banks is way more profitable and a smart move in the long run. Just don't forget that we have bearish and bullish season, so don't expect your money would pump every single day.

With so much inflations on Bangladesh it might end up on bankrupt in the end and that's sad thing to hear. That's why bitcoin will become essentials in that kind of situations as it not govern or controlled by the government. Putting personal savings on crypto might have risk but if you are risk taker to be begin with, it all be worth it but my suggestion is that don't put full on it but more like a half or create a DCA schedule for buying bitcoin.

Your desire to save in bitcoin rather than in a bank is correct and the strategy you have planned is wise enough to do DCA. Because saving money in the bank in the long term is the same as making yourself poor. the right thing is to turn your money into a slave and make your money work hard for you. don't be made a slave by the bank by saving money there.

Because saving money in the bank instead of our money is played by the bank and the bank is lucky but we don't get anything, it's better to invest money in Bitcoin which is profitable in the long term. But whatever it is, don't keep all your money in Bitcoin, you still have to have other savings for daily needs or urgent needs.

Your decision to invest in Bitcoin in right because in current times of inflation the only savior is Bitcoin and the ones who invest in it could get better returns in 2024-2025 from that investment. I recommend you to invest in Bitcoin at $29k to $30k range because I believe that Bitcoin will go higher in price after some days and that's why it's better to invest in it at those ranges.

If your intention is more about trading rather than investing then I recommend you to learn about trading and the crypto market first, and when you have learnt a lot about the market then you should start Bitcoin trading. I also recommend you to choose a better and trusted platform for trading because most of the platforms aren't trust worthy and that's why a top platform would be a better choice for anyone.

I recommend you to avoid depositing your money into any of those banks at all because if the economic condition of your country isn't well then the banks will also suffer from those circumstances. I think these kind of situations make us closer towards Bitcoin because the traditions fiat based currencies of many countries are getting highly affected by inflation. The Bitcoin was created to be independent from those banks and it works on its own and that's why it is a cure for inflation.

I think it's wiser to do what is considered the best, and I totally agree that currently investing in bitcoin is very profitable if you really want to compare it to interest from savings or bank deposits.In investing in bitcoin, it takes quite a long time to generate maximum profits, in contrast to banks, which can be obtained at any time. In bitcoin, you can also make short-term trades, but it requires expertise because if it's wrong, it can actually be detrimental. 

Banks are still very much needed by many who want to be able to get convenience in making every transaction. It is not easy to eliminate the need for banking because traditional banking transactions are still needed. So I think there are still many who need and rely on banking, and it is not easy to change this habit.

I want to say, This is a good decision of yours. Currently, due to the high demand of Bitcoin, its value is increasing day by day. As a new member in the forum I will tell you if it is your real savings then you invest half. Keep the other half as something you may need. Bitcoin will surely give you good profit, that is expected.

you are in Crypto mate so i think it is much better to put more in crypto not just in bitcoin , lessing the Gold ,Bonds and Fiat to put in other altcoins may be one of the good interest than just purely in bitcoin and other government controlled options.
wrong, Real estates is one of the best physical investments mate as the value of House and Lots are increasing each year or better to call Lots are.
not these days because if is fluctuating for months now  but indeed that it is a perfect decision to invest now.

If you don't feel safe with the bank, you can convert your deposited money into Bitcoin if you want. If you convert your money into Bitcoin, there will be some risk of your money. If you can accept that risk, then of course you should invest your money in Bitcoin. After investing you may notice some volatility in the market every time, if you see volatility in the market you will not be disappointed you will just believe that the market will go well sometime. Investing in bitcoins involves some risk to your money, but you won't lose your money at all. But you have waited five years to accumulate your money so hopefully if you invest in Bitcoin you will invest with such time  you will be patient enough to invest for a long time and hopefully you will be very profitable.

It seems that the OP has a source of income from which he was able to save this amount, but I agree that I would not invest all the money in one direction. I would try to divide the available budget into several areas. You never know where you can earn more, somewhere you will earn more, somewhere less, but in this way you can eliminate the loss of all money, if something happens to the asset in which you invest all the money.

Bitcoin is safest among all cryptocurrency. Undoubtedly It'll be raise a lot in upcoming bull run. So investment with it, is good idea. Besides It'll be more great if you know how to trade but trading is very complex thing and as you mentioned, Bangladesh economic condition isn’t so good, so it is better to keep some money like $1k in hand cause if trade goes worng you can't sell until bitcoin reach that price from you brought (otherwise you’ll loss).  So rather keep some hand cash for your basic expense and emergency situation