Should I invest in cryptocurrency or start my business?

[Stepstowealth]

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.

[1713884497]

1713884497

[1713884497]

1713884497

[1713884497]

1713884497

[Z-tight]

Do not invest in cryptocurrencies. If you want to invest in a cryptocurrency, then invest in BTC; do not mix these things up as many altcoins do not have any potential or utility, so you might as well ask should you invest in BTC or start your business?

It is your money, and the choice is yours! You want an opinion then i would say do the both of them, that is good diversification, use some part of your money and invest in BTC and the remaining to start your business, all of this while you are still working as a freelancer is a great plan.

Or you could use all of the money to start your business, and since you are still working as a freelancer, you could then start buying BTC with the income from your work using dca strategy, that way you already have a business you have started with your savings, and you have a growing portfolio. Cheers!

[examplens]

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.

with the current state of the cryptocurrency land, every investment must be considered long-term. So, if you invest now, you can expect a benefit from it for at least two years. if you don't have a problem with waiting so long, then investing in cryptocurrencies is acceptable. Definitely keep in mind that you don't need all your assets to invest in it.

I don't know what kind of business you have in mind, but if it can bring some "guaranteed" profit in the short term I would go for it. when it starts, you can always reinvest part or all of the profit in cryptocurrencies. that way you'll have both ways.
considering that the market is in decline, you certainly still have a good period ahead of you that is suitable for crypto investments.

[Hyphen(-)]

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.

Investment is entirely up to you; all you need to do is prepare mentally and physically for any investment you wish to begin, and always learn thoroughly before embarking on any business.

The current state of the Bitcoin market is favorable for investment; therefore, I recommend that you learn more about Bitcoin and Blockchain Technology in order to understand the main processes involved in Bitcoin investment.

Or you could use all of the money to start your business, and since you are still working as a freelancer, you could then start buying BTC with the income from your work using dca strategy, that way you already have a business you have started with your savings, and you have a growing portfolio. Cheers!

I will also follow this advice because it will be very good and will provide more experience, and you will be able to keep your freelancer job by investing the profits in Bitcoin and keeping the business growing.

[cryptoaddictchie]

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 could do business while doing freelancer and maybe can put up some of your funds to crypto as investment but dont overly invested cause the market is very volatile and that isnt sure profits. While doing business can do much more especially if its a good one.

[Eternad]

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’m on this same scenario before https://bitcointalk.org/index.php?topic=5405285.msg60516153#msg60516153 but the only difference was I already have the Bitcoin to start my business but I’m hesitant to sold my Bitcoin due to the potential of pumping since back then was the first wave of crypto market crash. I ended up selling part of my crypto holding and save some for my crypto savings. I decided to just split my asset just to make sure I can start my business and generate profit while still involved on crypto investment.

I’m currently have a stable income on my buy and sell business while my remaining crypto assets only lose few amount since I’m not holding huge amount compared before. I’m now slowly DCA on Bitcoin using part of my business profit. My target is to exceed my old Bitcoin holdings slowly using my business profit only.

Securing a stable source of income in the form of business first is best way then just enter on crypto if you are already generating profit. Bitcoin investment needs a lot of time commitment for your money to grow since the current market will give you high risk of losing more to your original holdings value. If you have the capital to do both by splitting it then I suggest to do it but don’t all in in crypto if you have a business plan.

[mk4]

Obviously the answer would depend on a lot of factors(do you know the industry, is the idea good, etc), but 80% of the time I'd say go start a business. You have more control over the business compared to buying cryptocurrencies; and add the fact that a business would actually give you cash flow.

[Iroh]

I would go with starting your own business. Having your own business is equivalent to being your own boss and not having to answer to anyone(except to your clients of course). Investing in cryptocurrencies(preferably bitcoin) is a nice idea especially now that we’re currently in the bear market. But for you to reap the benefits, you would have to hold for a long time.

Having a start up isn’t always easy and as with all things, comes with challenges. But the idea of having your own business is a noble one as you would be an employer of labor.
I would advise you to start your own business and later on, if you’re still willing and financially buoyant, then you could delve into investment of cryptocurrencies.

[inthelongrun]

But why not do both? Or are you trying to say that you will trade actively hence you cannot do both as it needs an ample amount of time? I suggest you start a business of your interest rather than trading. You can start a business and then invest long-term in the top and more stable cryptocurrencies like Bitcoin. 

Trading is not an easy job. Based on my experience and observation of people I know, in order to earn regularly in trading you need effort in technical skills and you also need to follow the news and trends. You also need the experience because every now and then some strategies aren't going to become effective forever. And besides, the risk of losing is always there and it might be too stressful for newbies to handle. 

[Renampun]

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 do both (invest and make your own business), don't just invest all your money in cryptocurrencies if you don't have a stable financial foundation, you are only making things difficult for yourself.

Opening a business that provides you with a stable income will definitely make you leave your freelance job, so you should choose a business that won't let you leave your freelancing job at all.

currently, it's a trend that people have income from many income wells, so don't just depend on your income on just one income well, you need more side income.

[Lucius]

Investing in cryptocurrencies (including BTC) is always a risk, but no matter what someone advises you to start a business, you must know that it also comes with its own risks. Whatever you intend to invest in, you should certainly do as thorough a research as possible, which will try to reduce the risks for your investment. There are certainly businesses that could pay off in times of inflation, and there are also those that could very easily fail in just a few months.

I will ask a simple question - why not divide the money into two parts and start a business and also invest in something else? It doesn't necessarily have to be BTC, but it can also be real estate, gold or something completely different that you think could bring profit in the future.

[ajiz138]

If you have saved a reasonable amount of money why not continue because it is good and also stable for your finances or maybe it can be made into other assets such as Gold, Property, or other more important assets compared to Cryptocurrencies which have high risk.

You, as a beginner, want to invest in cryptocurrency, you will not necessarily get good results, but you will have a bad experience because you as a beginner of course, will not understand everything, including how the market moves which fluctuates a lot at any time, so you have to understand that and learn everything if you want to really get into cryptocurrency investment especially Bitcoin.

Creating a business must also be with your abilities and what opportunities are good for it, have you seen the potential, then you can run it along with your freelance work, but if the business is created in crypto currency, then you have to do longterm work investing but if you want to earn every day or every week then you need to trade but keep in mind that in cryptocurrency there are high risks that must be faced.

[imamusma]

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.

Bitcoin is better known as a long-term investment asset for everyone, you might consider bitcoin as one of the reasons why you should invest in crypto. Bitcoin allows you to buy lower now as the -76% discount is still in effect, you should decide to invest in that soon if you are starting to believe bitcoin is one to recommend.

So you should own bitcoins instead of trusting other cryptos (altcoins), and be a long term holder.

[isaac_clarke22]

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.

Put crypto as your last priority. Continue your freelancing career while establishing your business as we never know when these prices would last before bull run starts again. It would really suck to get losses these days just from how our current economy goes lately.

At the end of the day, if you have some money that you afford losing, then that might be the cue for you to buy some crypto though I would advise you to think about it thoroughly. It does not matter how many or how much since you got to start somewhere anyway.

[Stalker22]

If you do not know, take a step back and think it through. Everyone is different, and your path will depend on your own personal situation and skills. Figure out your goals and aspirations in life. Does "be a investor in cryptocurrency" make the cut? If it does, then go for it. Investing in your own business is probably a safer investment. But, it is all about the mindset you have. If you believe in cryptocurrency and think it will be a viable investment option in the future, then invest. Just don't pour your life savings into crypto!

[Upgrade00]

All the advices here pretty much contains all of the information you would need to make a decision, cause the final decision is yours to make, others can only make suggestions with the information you provided (which isn't much).

Your understanding of Bitcoin and the business you plan to enter should also help guide your decisions. Both investments have their own fair share of risks, BTC has a significantly less risk when compared to many altcoins, and some businesses are more risky than others (and possibly even more risky than holding Bitcoin).

For any of your investments to be successful, DYOR - Do Your Own Research.

[Wakate]

Making investing choice should depend on your interest and how you can achieve that. For you to be a good crypto investor, you must be ready to learn and ready about how you can about your journey to become a crypto investor. There are a lots of crypto scams and weak coins that could make you lose all your funds in seconds which is the reason why you need to be very careful with how you are going to get things done.

If you also have interstate in investing things then that is okay because it is good to spread your eggs not putting all your eggs in one basket. Investing in crypto and other areas too so that you can have random investments which are cool.

[Franctoshi]

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 would suggest you establish a business but this depends on the amount of money you have saved so far and also invest in Cryptos precisely Bitcoin and you have to note that investing in Bitcoin involves some kind of risk because the market is very volatile and it also involves being patient.

Why I suggest you should go for the two options is that so you don't have to regret in the future, maybe if you only had established a Business and later you see Bitcoin skyrocket in price or only invested in Bitcoin, later the price of Bitcoin falls lower than the current price and you start regretting, therefore going in for the two will help you not to miss out on both.

[Rockstarguy]

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.

If your source of income is not enough to sustain you then I will advice you to create more source of income first(business) before you investing crypto. Having more money for daily consumption will save and help you to concentrate,  not depending in your investment even if the market price falls. But if you are okay with what you earn as income it is good to invest in bitcoin,  a long-term investment.  The market right now is good for long-term investment.

[Viscore]

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.

Do not complicate things. If you have a reasonable amount of money, then you can invest half of it to bitcoin and invest the remaining half to your other desired business. That way, if bitcoin fails, you still have other business to generate an income for you. Do not go all in with bitcoin, the risk is too high knowing bitcoin is highly volatile.