Should I invest in cryptocurrency or start my business?

[isaac_clarke22]

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Well in cases that you really need a somehow reliable source of income, I would say just do it in your own business venture though it will depend on the urgency on need of money. Business really do take time to build and I even recall my clothing business back then going slow and I was posting a lot of it in Facebook and getting no attention, but then it started out slow that I marketed it to few people starting from my social circle then going large to having a returning customer and you know the rest...

If the business you are building is really your interest, then you might need to focus more on that rather than investing it to crypto. Crypto will always have one of these days anyway.

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[decodx]

Since the price of bitcoin has significantly dropped from where it was last year, I will seriously consider investing in it rather than taking a chance on a new business venture that requires more time and work to run. If you decided to invest long-term in cryptocurrency, you still have more free time to unwind and enjoy life. Additionally, you have some free time to explore and pick up new skills in a different interest.

Well, what works for someone else might not be a good choice for you, so I don't think there is no one-size-fits-all answer to this question, as the decision to invest in cryptocurrency or start a business depends on a number of factors. Investing in crypto is risky, and you could lose your entire investment. If the value of a cryptocurrency rises significantly then you stand to make a profit. Starting a business on the other hand takes time, effort and money. There's also the possibility of losing money if sales don't meet expectations or if competitors arise. Starting a business takes work on your part, but it also puts you in control of your success. Is it possible to achieve financial freedom from an investment in cryptocurrency? Yes, theoretically it's possible. But the world of cryptocurrencies and businesses are changing fast, and it's difficult to predict the future of one or the other. It's hard to say which will be more profitable in the long run. There are pros and cons to each route and your choice will probably be shaped by your subjective decision.

[Spontaneous]

OP, I know it's hard to decide since both is involving value, but if you think you can afford it them both will just do it . But still you're decision would be matter on yours.

[poldanmig]

It all depends upon you if you have the skills and knowledge about cryptocurrencies go with cryptocurrencies. But my suggestion is that only invest in cryptocurrencies if you have spare money in banks that you won't need to use on daily bases. And if you know business very well so it is wise to invest in business. You can do cryptocurrencies as side business.

We have to rely on cryptocurrency investment for a side business from spare money to focus on long term investment, but we can focus on the main business developed from your talent and I choose another investment business in gold and stocks, I think both choose passive income if we have it in long term investment.

[suzanne5223]

It all depends upon you if you have the skills and knowledge about cryptocurrencies go with cryptocurrencies. But my suggestion is that only invest in cryptocurrencies if you have spare money in banks that you won't need to use on daily bases. And if you know business very well so it is wise to invest in business. You can do cryptocurrencies as side business.

Yes, people should always invest the amount they can afford to lose in cryptocurrency but Maaz Sultan there's no skill needed to invest in crypto what is needed is only knowledge.
I think the OP wants to be greedy, I believe her plan was to buy a whole BTC and if she still reading this I will advise her to both ^{start the business and buy some fraction of BTC when she has some spare money she can DCA on Bitcoin}.

[libert19]

I'd pour all in Bitcoin/ethereum and leave it for few years. Profit guaranteed. Take this as financial advise.

Just remember to take security seriously.

[Rizvialawal]

crypto market is going throw the bear run. Now btc and altcoins are cheap. But it can take long time to see another bullish days. So it is your decession now. If  you can afford long term return then it is time to invest now.

[Outhue]

You are the only one that can decide.

As for me I will invest in crypto and still run a small business, the reason why we get tired of a bear market is because of the condition we are in while the bear market is active.

Many people invest more than they can afford to lose and when things look more uglier they start to freak out, invest what you can afford to lose and use the rest to run a business.

[TanhyaTrudy]

My advice is to use a small portion to buy bitcoin and the rest to start a business.

[mvdheuvel1983]

Congratulations you have been able to save up some money as a freelancer. Trust me this is no easy feat. Now go to your question, I would say it shouldn't be one or the other, but it should be one and the other. What do I mean? You should both invest in a business that you have adequate knowledge of and also invest in cryptocurrency particularly Bitcoin. Just us you will do your due diligence when investing in a new business venture so you should also do your due diligence when investing in Bitcoin. Like they would always say do your own research.

[Razmirraz]

crypto market is going throw the bear run. Now btc and altcoins are cheap. But it can take long time to see another bullish days. So it is your decession now. If  you can afford long term return then it is time to invest now.

I prefer Bitcoin over Altcoins, now is the time to get Bitcoin at a cheap price, entering the market when it is on discount will potentially get many times the return. Suggestions from people on the forum who have made profits based on personal experience, Op can consider suggestions from several users here to manage their money well. To reduce risk, Bitcoin will be a good medium for investment.

[len01]

crypto market is going throw the bear run. Now btc and altcoins are cheap. But it can take long time to see another bullish days. So it is your decession now. If  you can afford long term return then it is time to invest now.

I prefer Bitcoin over Altcoins, now is the time to get Bitcoin at a cheap price, entering the market when it is on discount will potentially get many times the return. Suggestions from people on the forum who have made profits based on personal experience, Op can consider suggestions from several users here to manage their money well. To reduce risk, Bitcoin will be a good medium for investment.

investing in bitcoin is one of the main choices when you want to invest with low risk.
and altcoins can be a second alternative to take bigger profits with bigger risks.
but if indeed we can be good at choosing some crypto assets to hold long term choosing both of them would be better.
just think of ethereum as the oldest altcoin that has little risk compared to other altcoins.
so we can choose bitcoin for the first asset and ethereum as the second asset as a long-term investment

[RockBell]

When it comes to making this choice, I believe you should give it some thought before coming to a decision because, while investing in bitcoin won't be bad at all, considering it to be a long-term investment, and I actually understand how you feel when it comes to choosing one, I feel that investing in physical business  is not also bad. If you aren't using the money right now, I believe you can actually buy and hold, the opportunity is still there to do so. Also, if you want to buy, please stay away from altcoins and also avoid keeping your assets in an exchange and please keep your private key in a safe place.

[passwordnow]

Investing in an established asset such as bitcoin is already a great move. And at the same time, you can divide and give each portion depending what you think is right.
You can all-in to your business if you want to or do that to bitcoin but as much as you're decided, choose what you think will make you grow. Not just by learning lessons but with the aim to be successful by doing any or both of it.

[Rockstarguy]

When it comes to making this choice, I believe you should give it some thought before coming to a decision because, while investing in bitcoin won't be bad at all, considering it to be a long-term investment, and I actually understand how you feel when it comes to choosing one, I feel that investing in physical business  is not also bad. If you aren't using the money right now, I believe you can actually buy and hold, the opportunity is still there to do so. Also, if you want to buy, please stay away from altcoins and also avoid keeping your assets in an exchange and please keep your private key in a safe place.

Seems Op is having double thought. maybe he has bitcoin and business at heart , and he is not sure of which investment to go about.  The best thing is to invest amount of bitcoin that he can afford to loose, then can also invest in business with remaining money left with him. It is always advisable not to put all investment in one basket, it is good to diversify investment . Investing in bitcoin and also investing in a business is a good one, he can depend on the business for steady income and hodl the bitcoin until it is profitable.

[ZAINmalik75]

I am now confused on what to do if is to invest in cryptocurrencies or to establish a business

If you have handsome amount of money and you want a small but instant and quick Profit  then you should start a business rather than investing in Cryptocurrency. Because crypto is longterm game, all those who invest big amount of money in Bitcoin and hold it for 3 to 4 years they get a huge huge profit which they didn't expect, like all those who bought BTC at 6k and sell it on 60k they got 100x profit. While on the other side if you start a business it will give you instant money but small. So decision is yours. It's just my taught so DYOR

[Noctis Connor]

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 your experience if you had knowledge already with business then go establish or invest in business and it's up to you what kind of business you should think about the place , the people and ofcourse when it comes to city so you can build a good business depends on what people need. In my own opinion regarding in cryptocurrencies if you don't have enough knowledge about this then maybe you should stick on stocking some of bitcoin this is the best asset you'll ever had so far.
and if you're not sure about crypto you can learn more about it on internet.

[bounceback]

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.

Maybe you can do both, but it's best to use the funds you have to build a business and then when you have made a small profit from your business then use that profit to buy bitcoins and make bitcoins a long term investment, because if one day your business goes bankrupt at least You still have bitcoins that you can sell and may be able to make a large profit selling them later.

[akuntester1]

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 is indeed a tempting thing but of course it also has risks.
But I think the sensible thing is to grow your business first.
Because you can fully control the business risks that you will develop.

Besides that, also start to increase knowledge to invest in cryptocurrency.
It's just my advice not to invest in just any crypto coin.
Invest your money in Bitcoin and maybe top Altcoins like Eth.
Make sure you don't waste your money investing in shitcoin.

[tvplus006]

I have been working as a freelancer for years, and I have saved some reasonable sum of money. ..

Investing in cryptocurrency should be a conscious and voluntary choice based on knowledge. And if you think that your knowledge is enough, you need to make your own decision about investing, since this is your money and you are fully responsible for their safety. But if you still have doubts, then invest half of the funds you have collected, and leave the other part to create a business.