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Yes, basically meme coins are currently a very risky investment and are not recommended. However, many people choose to invest in meme coins because of the huge profit potential. However, it does make cryptocurrency look bad, when many people choose a meme coin, and it becomes a scam, then people will say that it is crypto. However, in this case, investors also need to be wise in choosing investments, and I really emphasize this, because generally investing in crypto is very risky, especially in meme coins. As the name suggests, meme coin, it is a coin that is not recommended. If you choose these coins as an investment, investors must be prepared for the risks.
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Let's say you have a job that gives you the option to have your salary paid in BTC, ETC, or any other cryptocurrency, would you prefer that or would you rather still be paid in fiat? If you'd prefer crypto payment, which currency would you choose and why?
Here is the thing, getting paid in either fiat or crypto makes no difference as both hold value and in addition to this we several platforms out there that facilitate this exchange with ease, unless it's a hassle then stick to fiat... Btw, for my preference I would opt for crypto payments as am using more crypto services today than ever before and crypto does give some gains which I won't miss out on and can pay less fees than using a bank card or similar. well, for crypto users, salary payments using Fiat, or crypto will probably be the same. I also think like that, in fact, I feel that payments using crypto will be more profitable, because we can more easily manage the investments we are making. However, this answer may be different when the question is asked by a layperson who is not very familiar with crypto. They will probably choose Fiat over crypto because they don't know how to utilize it. |
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I don't know how the banking system works in other countries, but personally, I keep most of my money in local government-owned banks, and I think many people do that, and indirectly they trust banks to keep their money. In this case, even though we don't trust banks 100%, when a local bank does something wrong, we know where to report it, and the government guarantees this because they are the managers. However, wherever you save money, there will still be risks, in fact I feel that saving money on the internet has a higher risk. When your money is lost, it is very difficult to process the money, especially if the money is taken by hackers.
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Each person will have a different opinion about this, because each person has different conditions and goals in investing in Bitcoin. I think, it's very good to invest in bitcoin, but if we don't take advantage of it, then we can't feel the benefits of investing in bitcoin. Personally, I always hold onto the investments I own until I feel that it is a good profit to sell, or I will take a profit when I need it. So, if I'm confident in the bull run continuing, I'll hold until I need it or I feel like it's enough.
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Investments are fun, but they're not everything, right? I know saving money isn't as exciting as bitcoin. Your savings account is your safety nett, guy. The punches of life hit you. Unexpected costs? Job lost? Wow, savings saved you
In no way am I anti-investing. Good tool, but only one in the toolbox. Right? You wouldn't build a house with a hammer. You must diversify your finances. Don't wager everything. That dollar-cost-averaging thing is sensible and consistent, but not magical. Research and comprehend the dangers. Buying in bits doesn't make you invincible. Yes, invest, have fun, but remember the basics. Budgeting, debt repayment, and savings are the cornerstone, dude. As in martial arts, you must master the basics before throwing exotic kicks. Slow and steady wins the money race
Honestly, this is one of the right answers I've been looking for. It's not easy if you continue to consume theories that are sometimes quite floating. I agree more that someone must understand the basics of managing finances so as not to fall into a vicious circle. I don't have many sources of income, but even though I only have one source, I want to set aside some savings to meet urgent needs in the future. However, investment is also good but doesn't seem suitable for some people who have minimal sources of income. however, this is also included in financial arrangements. Bad financial management will result in poor financial conditions. We do need to fulfill basic things such as paying for basic needs, saving, and so on. However, we also need to think about investment strategies. This will really help us in the future when we have no source of income. However, all aspects of finance are very important, we need to learn the basics so that we can meet all the necessary needs now and in the future. |
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There is always risk involved every time and every trade we make. We can say there is nothing like zero risk free time to make invest. We have to study market and understand it before choosing a good entry point and excellent exit point too.
Well, every investment definitely has risks, what differentiates them is the level of risk. For example, when we invest in Ethereum and Dogecoin, the risk from Dogecoin is greater than Ethereum, and the same goes for other coins. In fact, when we take examples of successful businesses out there, they also definitely have risks, even though they are small. However, risks will still exist, but we need to be truly prepared to accept this before investing. |
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There is always the question of when is the right time to buy Bitcoin.
And it is best to study and understand Bitcoin well first, see its footprint and also see your ability to buy Bitcoin. And with all that, you can judge when is the right time to buy Bitcoin, because in my opinion the best choice is to buy Bitcoin when you have funds within your means and whatever the amount is using money that you can afford to lose.
And every person or investor has a different strategy by buying DCA, buying dips and so on, but if the goal is for the long term everything will be fine because the long term is the best choice to generate profits in the future.
yes, the best time is when the capital we have is ready to buy bitcoin, and at that time it is the right time. The DCA method is usually the right thing when someone intends to buy bitcoin. This is because, when someone thinks too long, they will become doubtful, and sometimes cancel their intention to invest. So, when your intention is there, and your capital is there, then starting to buy at that time is the right time. |
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I'm invested on multiple coins and diversification is always better than investing on a few coins. Still if I were to choose a low risk high reward coin at the moment to invest all my 40k on, it would be books of meme (BOME). Bome is heavily accumulated at current price range and is near a heavy resistance that's been unbroken since ever. The coin could easily do x10 in a matter of years.
Among popular altcoins, I'd still chose Solana, even though it's like x10 in last 6 months, it can still make another x10 in a few years.
Well, I checked the charts and prices of BOME at the moment, and the price is really falling, and maybe it's different from what you said. In fact, I checked the volume on the DEX, and it wasn't that much. I think it will only be profitable if you invest early in the coin before the hype. However, never invest $40k at a huge risk, especially in meme coins. I prefer to invest in coins with clear development. Even if the price drops, it won't be too far. Maybe if it were me, and the choice was an altcoin, then I would probably choose Ethereum or BNB. However, if the choice is free, then it is bitcoin. |
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when someone invests because of hype, then when the price goes down, and he gets a loss, then he will view the investment negatively, and usually spread FUD that is not true about it. However, there is now overwhelming evidence that many people who invest follow others. When other people make huge profits from bitcoin, they start trying it because they feel it is easy.
However, it will be better and wiser when we know what we are going to invest in rather than following other people. This will make us more prepared for the risks, and we will also have a mature strategy and consideration in buying and selling bitcoin.
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for me, bitcoin is an alternative payment, business, investment and freedom. However, bitcoin encourages me to be more active in doing business, and think about strategies to increase the assets I own. Since I was in college, I have always focused on building assets through bitcoin. Because of that, I feel that bitcoin is more than just a payment alternative, and has a broader meaning. I think it's not just me who feels this.
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In circumstances like this, it seems better to buy potential altcoins, especially when we include these coins in our portfolio. For now, I'm thinking about doing the DCA method, and monitoring market developments. However, selling the assets we currently own is not the right choice, especially since the effects of the halving have not yet been seen.
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I think, if DOGE and PEPE are on the list, then the winner is Meme coin. We know that starting in the past few years, and this year, many people are hunting for Meme coins to invest in, especially the new meme coins. That's because the price increases are very high, and can provide many times the profits in a short time. However, the risks faced are very large. If the best coins are based on function, community, and so on, then I think the ranking can be seen on CMC, and Bitcoin always occupies the top place, ETH second, and BNB. I think if this is a matter of profit, then the list that enters will probably be selected for Meme coin which provides higher profits.
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I think this is a common mistake, the first is that I don't take profits when I have made big profits, and become greedy by waiting for higher profits. And the second is selling too quickly when the market has just entered the bull market, so I don't get optimal profits.
However, both happened to altcoins I held a few years ago. The first thing happened to a little-known altcoin, and now the price has fallen quite far. Meanwhile, the second mistake happened in 2020-2021, when I sold the ETH I owned too quickly.
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Well, I think a lot of people believe this. However, I feel that the current situation is one where we can increase the amount of investment we have. Maybe quite a lot of people still haven't added to their portfolio, and now is the right time. Currently, we don't know how the market will move, but I also feel that at any time a bull market could occur.
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So far ethereum. However, because the price has exceeded my expectations, I am currently planning to switch to investing in BNB because the price is still cheaper than ethereum. Apart from that, the potential is still quite large. I think that this coin can reach a high price in the future, maybe even reaching the current price of ETH. However, I believe that, which is why I am trying to increase my investment in this coin.
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if they can access the internet, then I think they've at least heard of bitcoin. Whether they think bitcoin is a scam or not, they should know that there is an alternative payment on the internet called bitcoin. However, many people still don't know what bitcoin actually is, but they have heard about it. I've seen videos of young people being offered 1 bitcoin and $100, and they chose $100 because they lacked information about bitcoin. However, at least they have heard of it. The conclusion is, the whole world may have heard the word bitcoin, but there are still many who don't know what, how, and the value of bitcoin itself, which is why education is really needed.
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Well, I once invited someone, and he managed to own some assets at that time. However, since the price of bitcoin has dropped, I think he has gone out and looked for other investments. Well, he was grateful, but right now, I think he has another job. However, up to now, I don't want to invite anyone, but I just explain what I know. Sometimes, when someone is invited to invest in something, they do something out of line, such as trading with what they can't afford to lose, then blame the person who invited them.
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^^^ With 8 billion people on Earth, that's (on average) 262500 satoshi's per person. Plenty enough to do business with.  if everyone had accepted bitcoin, I think the price would rise significantly, and it is possible that 1 satoshi could approach $1. Yes, even though it's just a raw thought, we are talking about Bitcoin which has high potential. However, we can see this when everyone accepts bitcoin. Well, it's a good thing to have bitcoin nowadays, especially if we have it in large enough quantities. |
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Authentication post
Bitcointalk username: Dr.Osh
Telegram username: @Dokterosh
wallet address polygon from Metamask: 0x99372EaF86aFDCFEa0DeBBE3E32CB48a601972Be
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This photo illustrates something that many trading players violate. Even though they know that it is the right thing to do, sometimes they increase the risk by ignoring the rules. Well, some succeed, but almost more people fail than succeed.
Apart from that, for beginners, you should use as little money as possible and never use the main money you have. Many beginners feel that trading is easy, and use all the money they have as initial capital.
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