"Over the past couple of weeks, a lot of friends, family, and associates have been asking me if they ought to invest in Bitcoin? Have they missed the boat? Is there still an opportunity to make money?
First, let us get something out of the way: I am not investment Oracle. Not even close. I can barely understand the world of investments myself. I too, like many other people, started investing and saving very late in life.
I am not qualified to dispense investment &/or savings related advice and neither are a large number of people out there advocating what to buy (or not).
How high will Bitcoin go? No one knows. I think it is fair to say, 99% of the trade happening in Bitcoin’s volume is for speculative purposes or investment (long -term).
Here are some rules you need to abide by if you’re thinking about investing, there are Rules for Investing in Crypto-Currencies.
- Be prepared to lose all your capital.
- Be prepared to lose all your money forever, if your wallet is hacked.
- Be prepared to lose all your money forever, if your wallet provider gets hacked.
- Be prepared to lose all your money forever, if you are tricked into sending money to someone else.
- Be prepared to be questioned by lawful authorities on the money that you have stored in crypto currencies.
- Trying to mask vast amounts of wealth for purposes of tax evasion &/or flight of capital will be unmasked. You’re not that smart. The LEAs (Law Enforcing Agencies) are a lot smarter.
Continued at...:
https://blog.faisalkhan.com/investing-in-crypto-currencies-90ed9a2dd30c?utm_sq=fn9ohurxik&gi=7dc6fffdce1c
