I will invest in bitcoin for my child's cost when they grow up.

[Rx009]

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

[Pandorak]

That is a good plan. As we know that fiat has greater inflation than bitcoin itself, of course, when you invest in bitcoin, you will maintain a store of value from the assets you own. by the way, the halving of the bitcoin network will be happened by early next year (Q1 probably), so it would be a good opportunity for you if you invest in bitcoin asap.

[acroman08]

since you are willing to take the risk, then, just research how to properly secure it if you are HODLING for a long time. there are a lot of people who have lost their bitcoin because of poor security. there are members here who are knowledgeable about how to properly secure a wallet, if you have questions, just ask. also, good luck!

[348Judah]

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

Your opinion is not bad and is a good idea for considering the future of your children, but while at this, you need to exercise caution from the type of wallet used, which i expect you to use a decentralized wallet under wgich you could get a cold storage that will give you control over your keys, then tou also need to know how tou could secure these keys to avoid them from third parties, invest now and the future is secured for your children finances with your bitcoin investment because it will always appreciate over a long period of time.

[Upgrade00]

Your idea is a good one and is shared by many people who are into Bitcoin. Planning for the future, requires an inflation resistant asset like Bitcoin.

You need to plan for two things;
• Proper security of your Bitcoins,
• A contingency plan where your child or closest next of kin can still access the bitcoins should anything happen to you.

With proper security, a hardware wallet is a safe option, with multiple backups in safe locations.
You also need to learn how to generate your keys securely.

On how to make the bitcoins accessible even if you're not there to release it, you could reveal the location of one of the backups to a trusted person, or utilize the locked transaction or locked address option, which makes the UTXO available to an address at a specified time in the future, this way, it cannot be accessed by anyone else now, but would be available to the person you any at a time in the future. You need to do your research and be sure you know what you're doing here

[joniboini]

If you are asking whether investing in Bitcoin for the long term is good or not, I'd say that as long as you can take the risk it is worth it. While I believe Bitcoin will increase its value in the future, some people don't have the necessary capital or management to make sure they can avoid being destroyed by the bear market due to overinvesting or something similar. If that is what you're worried about, you can read more about dollar cost averaging or value cost averaging and make sure you follow your plan carefully. It is difficult to give you detailed suggestions since we don't know if you also invest in other things or just Bitcoin to prepare for your children's future IMO. The general rule is to make sure you can invest the amount you can afford to lose.

For security or inheritance setup, there are many good threads about it here. I suggest you search and read about them. You can find discussion on time-locked transactions, multi-sig setup for inheritance purposes, or even find some service that provides custody for inheritance purposes. Although the latter is probably not the best option if you want complete control and don't want to rely on a third party who might or may not hold your money and use it without your consent.

Are you familiar with hardware wallets, air-gapped devices, etc? Depending on how familiar or how eager you want to learn about them, your setup options can be flexible. CMIIW.

[Rx009]

for the advice and support to me I thank everyone,, and thank you also to everyone who reminded me to put my bitcoins in a safe place like , hardware wallet.

[Maus0728]

Not pretty sure what your question is so I suggest you read [1] https://cryptosec.info/ given you have decided to invest your money in bitcoin for the long haul. Remember that maintaining your financial security and handling it responsibly should and always be your utmost priority.

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

While I know that these are the common scenarios from before and could perhaps happen in the future, but still, be wary that there is still a chance that bitcoin would not go up in price. I mean we can't certainly know if bitcoin will reach a hundred thousand valuation in the next decade, or in the next 20 years.

I am not saying that it isn't safe but you have other options to diversify your money other than bitcoin. More importantly, invest what you cannot afford to lose.  

[Beparanf]

for the advice and support to me I thank everyone,, and thank you also to everyone who reminded me to put my bitcoins in a safe place like , hardware wallet.

Its a great idea seems it will be like a savings funds that can get higher returns in the future, Make sure to keep it safe where only you or your wife can access it, while it is safe that it will only you who knows it, there are events we can’t control and it’s better to have someone know where to find or use it. And still keep on monitoring the price whenever you buy. Alongside of holding bitcoin also try to have atleast a small portion for  a emergency fund or educational fund for your child so if ever the price of bitcoin still isn’t that high at times you will need it, there is still a fund a alloted for his school or emergencies that needed a money readily.

[Smack That Ace]

I want to know your opinion?

You are aware of the risks of investing in bitcoin, and you are willing to accept it, there is no reason to stop this plan, it will be a great plan. If we compare bitcoin savings with fiat savings, it is clear that bitcoin is more profitable.

But I still want to remind you investing in bitcoin is very risky, and this is the money that you will save for your child, which means your child's future depends on the growth of bitcoin. Make sure that later, if this investment fails, you still have another good plan for your child.

[tvplus006]

...so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin...

It's good that you understand all the risks of investing in cryptocurrencies and that instead of financially supporting your children in the future, you may be left without money. Nevertheless, you have made a good decision to invest in bitcoin, especially since the price is not high right now. I think it would be optimal for you to make BTC purchases 1 time per month.

[elevates]

now I have a child and my child is still small, of course the bigger my child is, the living expenses will also be greater.

First, concentrate on your child and his/her expenses. Bitcoin investment is not a big deal at the moment as it can happen after some years. Invest whenever you have less liability in your life in Bitcoin. Please understand you only need to invest what you can afford. At moment you cannot! Please focus on your child first and later think about Bitcoin.

so I plan to buy bitcoin and will invest in bitcoin for the long term, with the intention of paying for my children in the future, such as for school capital and my child's future marriage.

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

Buy Bitcoin if you can afford to lose your money in the sense that the price is very volatile. If you are in an emergency situation then the buying price as in when you bought would not be the selling price you expected. This is a global market and you have to be patient if you intend to buy Bitcoin. Some of us have been holding our patience for a few years now.

[LogitechMouse]

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

I don't see anything wrong with it. There are some things that you might wanna consider.
Since you already said that you are aware of the risk of it, I guess you're good to go.

As long as you will not lose your private keys that holds that Bitcoin or if you will not lose your hardware wallet in the span of probably 1-2 decades then I think there's nothing wrong about it. With this, you believe that Bitcoin will rise in value in the next 5-10 years.

As for me, I already allocated a specific amount of Bitcoin that will be intended for my future child (I still don't have a child currently, but the earlier the better:)). Anyway, my opinion or suggestion for you is that, maybe you might wanna try to diversify into different assets like in dividend stocks if you are just doing it for your child. After all, the dividends that you can get into those stocks will help you in either your expenses or in your investment if you wanna re-invest it.

[Crypt0Gore]

There is nothing wrong with this plan but how sure are you that you will be alive that long to see your kids get married or something? I dont wish you bad but if you want the best for your kids you should teach them about crypto while you are still alive, what is the use of buying Bitcoin and when you are not here anymore they can't even sell.

I think a better plan is to teach your woman first, just in case, you may not be around while your kids are still very small, teach a trusted adult like your wife, and when you live to see your kids grow you can teach them later.

Whatever plans you have always think about when death comes knocking, no one lives forever and no one know when their time will be up.

[YOSHIE]

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

This is a good point, for someone who wants to jump into the world of Bitcoin investment, if you are ready to take the risk do it, obviously you have to be able to deal with anything that will happen at any time in the crypto market.

In life in this world, most of what I see someone who can become successful and billionaires is caused by their desire to invest, regardless of where they do it, Bitcoin, gold, stocks, businesses and so on, the main goal is to make a real profit for some of the money they invest.

On the internet, maybe we often see someone investing in their child or family in the future, including for a certain period of time, maybe you can learn from this family: This family bet everything on bitcoin when it was $900 – and bought more when it crashed in 2018, the way they invest in Bitcoin.

[Rx009]

Not pretty sure what your question is so I suggest you read [1] https://cryptosec.info/ given you have decided to invest your money in bitcoin for the long haul. Remember that maintaining your financial security and handling it responsibly should and always be your utmost priority.

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

While I know that these are the common scenarios from before and could perhaps happen in the future, but still, be wary that there is still a chance that bitcoin would not go up in price. I mean we can't certainly know if bitcoin will reach a hundred thousand valuation in the next decade, or in the next 20 years.

I am not saying that it isn't safe but you have other options to diversify your money other than bitcoin. More importantly, invest what you cannot afford to lose.  

thanks for providing the link for me to read, and i have read it, and the wallet i think is safe is a hardware wallet.

and i invest in bitcoin using idle money, so even if i have loss in my investment in btc, i am ready to bear the risk.

[Awan putih yang cantik]

indeed many people have invested in bitcoin for the long term, and they get big profits.

but you also have to be careful because you might experience a loss. but if your investment is in bitcoin in my opinion the risk will not be too high.

so I think your decision to invest in bitcoin for the long term is the right decision,
especially if you say you are ready to take the risk.

[Mpamaegbu]

but I am also aware of the risks of investing in bitcoin, but I personally am ready for the risk of investing in bitcoin.

I want to know your opinion?

If the risk you're referring to here is about Bitcoin dumping, you should rest your mind. Yes of course Bitcoin will dump from time to time but that isn't something anyone who's into long term investment should be worried of. The risk for me for your kind of investment will be in the likelihood of you losing access to the wallet you will save the Bitcoin for your child through your own carelessness that will lead to either loss of password/PKey or wallet hack by a foreign body. Other than that, go ahead and invest in the future of your child. Bitcoin is a veritable investment.

[HajiBagi]

Investing in bitcoin for your children is not a bad idea at all because, with the way the world is going now, bitcoin will be a good investment in the future for many people to have the opportunity and believe to invest, and in other ways you also have educate your children by knowing that bitcoin is a good investment, although bitcoin has a negative side effect, which is the loss when it crashes, but I believe that by then, before your children grow up, bitcoin will be a wonderful and successful investment.

[sujonali1819]

I see lots of people who have long term success investing in bitcoin. for example, like people who bought bitcoin in 2009 and sold it in 2021 when the bitcoin price was high.

I don't think people who brought bitcoin during 2009 and hold it till 2021. There were a biggest pump during 2017-2018, So I don't think they could control theirself and hold the bicoin without selling except they forget that they had some fund in other wallet. Or the it’s too much rare who keep holding till 2021.

Btw it’s a good idea you want to invest in bitcoin. But make sure that you have already enough for your living cost for atleast a few years. And only invest the amount you afford to lose. Anytime anything bad can happen in crypto so keep prepared Your self to control yourself that time.