Should I invest in cryptocurrency or start my business?

[Asiska02]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

I'd propose splitting the money. Take a portion to establish a business and a portion to invest in bitcoin. If you're confident in the potential of the business you want to invest in, go ahead and do it. The small profit you generate there can be used for your family's sustenance while also contributing to your bitcoin savings if you still have enough profit to invest more into it.

I'm so confident that you'll earn from your bitcoin investment rather than the business since I don't know the nature of the business. Bitcoin has the potential to recover its previous growth rate. Investing in bitcoin is a good idea right now because you will not be sorry. Hold for as long as the market remains bearish until it recovers. Then you'll be able to witness the fruits of your investment.

Don't think of your bitcoin investment as a savings account that you can dip into whenever you need money, which highlights the importance of focusing on your business as well. If you want to gain a lot of money from your bitcoin investment, you should never rely entirely on it for your daily sustenance. Instead, concentrate on your business and watch how your bitcoin investment grows over time.

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[CryptopreneurBrainboss]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Before I give my suggestions, I'll love to ask you some questions. What do you consider your freelancer job as? Do you consider them as mian Job or side Job. If your freelancer job is a side job then focus on investing as it's obvious you already have a main job that take most of your time and adding a business to that won't be recommended as you can't jungle them all which will lead to you losing out. But if your freelancer job is your main job then you can start up a business along with that and with time you can shift focus to your business to make it a main job that you give more attention while you turn your freelancer job to a side John.

Irrespective of all this, you won't be doing yourself anyharm by turning in some funds into investing in Bitcoin and holding for long term. Don't make investing your full time job but whenever there's an extra cash, save them in investing in Bitcoin. This is the surest thing to do now as in 5-10 years time, Bitcoin will be trading at outrageous price that you won't forgive yourself if you didn't get you hands on them now.

[kamvreto]

Don't just see the potential for profitable crypto, but you also have to really understand the potential risks that will arise if you don't really understand what you are doing. Investing in cryptocurrencies is not as easy as you think, the risks that will be incurred will also be very large if you are not prepared with everything and some basic knowledge. starting your business in crypto also depends on regulatory issues set in your country, don't violate the rules that have been made. If crypto is legal and allowed as an official transaction then many businesses that you can build with crypto, not just trading but business goods and services can be integrated with crypto.

[Zilon]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

There are a few questions to answer before making your decision on which to chose.

• How long are you willing to hodl
• Do you have plans for this money any time soon
• How good are you in managing business
• Are you willing to learn how to manage secure your keys
•  How much capital is involved

How long are you willing to hodl
As a starter Bitcoin should be the preferred option for investment and to profit from Bitcoin it will require holding for long. The term long has no specific time frame it could be 6months, 1year, 2 years or even more depending on how fast it takes price to go bullish.

Do you have plans for this money any time soon
If the money has a short time need then business should be a better option for your said capital. business too rewards but the difference is that Business will give earned/ active income but if Bitcoin starts rewarding it comes as a passive income where you get rewarded just for holding.

How good are you in managing business
If you are good at business management having a business and investing in Bitcoin can be another alternative. That way it will be the proceeds from the business that get invested. It will be a good way to manage risk as well.

Are you willing to learn how to manage secure your keys
It's not enough owning Bitcoin knowing where to save them is more important because your keys are as important has your investment. Always chose cold wallets. Most preferably run your own node.

How much capital is involved
Starting a business is more difficult this days. The cost of running a business gets more expensive has inflation rate keeps hitting the roof. If your capital is good enough to give a passive income then business can be a good start then the proceed used for investment. But with little capital investment should be preferred.

[lalabotax]

I will not recommend you use all your money to invest in cryptocurrencies. Because, using free money is the most appropriate, namely money that you don't want to use for anything, when it turns out that you fail in this investment, you won't have a problem. Because investing in cryptocurrency has a very high risk. Don't believe someone who says investing in cryptocurrencies will make you rich quickly. this is not entirely true.

I will prefer to suggest you divide your money. Some higher percentages to start your business that you really know. and I think that before your business is stable, you are better to stay in your job, don't quit at first to avoid some problems in your financial system. But if your business is likely stable, you may consider it.

You can use some smaller percentage of your money to invest in cryptocurrency. I will only suggest investing in Bitcoin because this is the most trusted and valuable crypto. But, never think to get a quick results. Investing in Bitcoin is much worthier in long-term period. At least, you can invest in Bitcoin by buying them right now and waiting for the bullish era. So, you can add more investment in Bitcoin using other free money while your business is also running well.

[nurilham]

I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Why do you need to choose which one to do?
I think you can do them together. You can invest in crypto coins while you are establishing your business and working as a freelancer. You must know that investing in crypto doesn't require a lot of time every day. After you buy BTC or top altcoins, then you are only holding them until the bullrun season. This is not a very complicated matter as long as you can manage your time for each activity very well.

[freedomgo]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

You can actually invest in both, buying some bitcoin and putting up your own ideal business outside cryptocurrency. But make sure that the money you invest in bitcoin is something that you can afford to lose, otherwise when bitcoin price crashes and drops drastically, you will end up feeling depressed and frustrated. Invest but only on the amount you can manage to lose.

[KingsDen]

As a freelancer and if you are good at it, I can conclude that you earn some good amount of money and you live comfortably, that is why you were able to get good savings.

I will advice that as a freelancer, if you have some times and skills to supervise your business at the early stage, open a business and nurture it to grow. But if you think you will employ persons to run a business you have no idea about, please save your energy and invest in Bitcoin while you continue doing your freelancing jobs.

Business in the start up stage needs alot of attention to survive, if you know you gonna starve your new business the needed attention, please invest until you have a good time to handle business.

[boyptc]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

What do you want the most?

If it's starting a business then start with it and when you're back on track, gets the ROI and everything then start investing in bitcoin. But if that business can do with the half budget you've got now.

Then, just do both things. Buy bitcoin while starting your business. That sounds easy, right? It's easy to buy bitcoin yet starting a business will require you more time and effort.

[qwertyup23]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Why not do the both thing at the same time? I think we have to clear a misconception here as I have noticed, some newbies also asked this question before.

Again, treat cryptocurrencies as a normal investment instrument. You are nowhere compelled to dump all of your lifesavings or funds into investing in this high-risk, high reward system. You can also always enjoy the rewards by also pursuing a different path. Remember that this is an investment- meaning, the proceeds that you will get is due to your diligence and responsibility as an investor to monitor its price.

Lastly, you can always focus on different ventures while maintaining an investment in this field. It doesn't have to be an absolute thing where you are compelled to focus only on one thing at a time.

[rat03gopoh]

Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.

[TelolettOm]

Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.

Do you mean, OP shouldn't choose crypto investment?
I think it is no problem to invest in crypto, nothing wrong with crypto investment as long as OP has sufficient knowledge about it. I am sure OP has a good mentality as a crypto investor, that's why he considers having crypto investment.

The problem is if OP expects fast profits, it is unlikely to happen with the current market condition. OP only can expect to take profits once crypto market already recovers and crypto prices increase again massively.

Regarding business and freelance, these jobs can be run while investing in crypto. OP won't spend a lot of time on crypto investment if he doesn't buy too many coins. I think OP needs to buy 1-2 coins only, BTC and ETH seem the best option.

[tech30338]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

I suggest at first invest in business, because you have control on it, you can do whatever you want, while having a freelance job, then all your income in freelance will be invested in cryptocurrency, in this way, you have 2 source of income, one is in a long term like other suggestion, in that way the risk of loosing money is small, 2 source of income is better than one, also at this moment that the price drops, some of the coins in the market are really on sale, having also a business makes you forget thinking all day of your cryptocurrency investment, if you keep looking at it sometimes you will make mistake, to sell early that's my take on this question.

[Sarah Azhari]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

It depends on what cryptocurrency do you want to invest, many of them are scam and to be the shit coin, so be careful for that. If you happy to invest it 50:50 in bitcoin and establish your business is good, but only you have plan when you want to sell it, You must have target, don't be late to sell when ATH, after you sold and profit then build your business again, and expand your shop asap, after that all finish, invest/buy again bitcoin on 2025, wait for ATH, sell it again, profit, build again your shop, then buy again bitcoin on 2029, and so on.

[Issa56]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

I think the decision is left for you take, but to me I think running a business will be a nice idea, if you are still interested in Cryptocurrency then you can start investing some profits you are making from your business in Cryptocurrency, if you are investing in Cryptocurrency, make sure you invest in only bitcon and you should be ready to hold for long term, Bitcoin investment is different from freelancing that you might be paid per job done, or a business that you might be making profits daily or weekly. In Cryptocurrency you have to be prepared to hold if you really want to make good profit.

The reason why I asked you to invest in business first is that you might be making profits daily in your business and you will be using it to sustain yourselves and the money you are getting from your freelance job, but if you are investing in bitcoin then their is no daily income, incase if anything happens and you really need money, you will have to sell your bitcoin to solve your problem. Also you don't have to invest all your money in crypto, invest what you can afford to lose.

[lienfaye]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Investing in crypto (particularly in Bitcoin) and starting a business are both risky. Because whatever you choose there's no assurance that you'll get a good result. Hence, the answer would depend on what you prefer and where you're confident to be a gainer in the future. In my experience as an entrepreneur, I will prioritize to build a business because it's a valuable asset that can make me financially stable. Of course there's no guarantee, but it depends on your dedication on how to make your business grow. If you like what you're doing and determine to succeed then you can do something to make it possible. On the other side, investing in crypto is also profitable however keep in mind that patience is necessary here and the waiting time is uncertain since we can't certainly predict when will the bullish season might come.

[Awwal08]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. now knowing the full potential that cryptocurrencies have, I am now confused on what to do if is to invest in cryptocurrencies or to establish a business while still working as a freelancer, I don't know the one I should do at moment, if to invest in cryptocurrencies or to establish my business.

Investing in cryptocurrency is a good thing, but the in my own opinion if it's possible to invest in two that will be a good one. Out of 100%of your savings in like 20% in cryptocurrency for a start and 40% in any kind of business for the first time, then the remaining 40%should be as backup.

[ThemePen]

First of all you make your mind.

Means if you want to use crypto world as business so you should learn about trading. And than invest wisely. And trade wisely too.
Crypto world is also a business place.
Or if you want to invest in and you want to hold so I will prefer Bitcoin. You should invest and just hold it for years.

And if you want to invest in a business so you can invest.  But choose a good business.

Note: Don't invest your all of your funds on first hand.

One more suggestion is that don't choose only one project choose different and invest.
If you get loss from one project the second will recover it.

[rat03gopoh]

Build your business while you have plenty of time to do both (business and freelance),
Some cryptocurrencies aren't good for your mental health especially if you have a lot of centralized service utility tokens in your portfolio.

Do you mean, OP shouldn't choose crypto investment?

I never said "don't". The OP wants the best option of the two and that means isn't business the best here? Several types of businesses are able to yield regularly and continuously.
For whatever reason, investment is a risky financial instrument, especially in high volatility assets.

I'm assuming the OP is a beginner since s/he started a question on this board. "When a newbie is interested in investing, then tell them the risks first."

[YOSHIE]

if to invest in cryptocurrencies or to establish my business.

Both of these activities have risks, different levels of risk, you must have the expertise and master the business that you want to run, that's very important, crypto investment is the same way you have to really understand the type of crypto you want to invest in and also the state of the crypto market, the two activities you want to do have different work and different benefits, that's for sure.

Just a suggestion, you can do both of these activities, run your business and make your investment, where you are doing your activities in business, of course the investment is also not hampered to do.

Maybe you want to read this one: The rise of using cryptocurrency in business