Investing in Bitcoin in Student Life

[Ultegra134]

1. Where are you going to sell your bitcoins, if it is illegal in your country.
2. How do you declare the proceeds of your trades for tax purposes?

1. Bitcoin is illegal in my country but exchange like kucoin Binance is available. P2p trading can be done through kucoin or Binance. I can sell bitcoins by p2p trading.
2. Bitcoin is illegal in my country so we don't have to pay exta tax

I don't want to disappoint you, but that seems to be the least of your worries right now. First of all, congratulations on studying under these harsh conditions. Education is something that will follow you for the rest of your life and may possibly stop this vicious cycle you're in. However, the 1000 BDT you're saving per month are hardly worth $10, meaning that you can hardly afford to save $100 per year, which won't get you any farther regarding Bitcoin and investments in general. With that being said, I believe that it's best to focus on your studies, yourself, and your family and leave investing aside, at least for a while.

Don't stop learning about cryptocurrencies; browse the forum, try to be productive, and aim to rank up. If your posts are worth reading, you may land a signature or bounty campaign from which you could possibly earn some Bitcoin or tokens.

[worle1bm]

It's really good to see that you are investing while saving during your study phase and helping your family also with financial expenses.This is one of the best decision in our life to save money and invest during early period but I want to tell you that all those are just speculations regarding price boost.As you said about prices going to $100k in 2025 then anything is possible but completely relying on them waiting for that to happen is not so good because it's volatility can turn the stones.So you must be aware that risk factor is involved in these investment so keep that in mind.Rest best wishes to you for your future goals and may they be accomplished.

[Pandu Geddon]

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

no one will be able to predict the future bull market. just make your trust in the investment you make. Bitcoin has provided answers to those who did believe in it years ago.
I hope your efforts to invest will not fail. although in your country it is still illegal, just pray that in a few years in the future the government in your country will open up with this huge update. although not as a substitute for fiat, at least ownership of Bitcoin assets is acceptable in your country. Hopefully.

[_BlackStar]

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

I'm flattered to hear that, of course bitcoin is an investment asset that you should consider instead of saving fiat in bank. Banks have collapsed, it's getting worse day by day and we're bound to find the average customers withdrawing their funds to invest.

There will come a time when most people will realize that keeping money in the bank just isn't going to benefit them in the long run. It's too bad today that fiat has lost its value and the inflation that has set in has made it even worse. Gold, bitcoin and other investment assets that have the potential to generate returns over the long term must consider, and I think this mindset about owning investments has evolved since bitcoin was popular around the world.

[S A KHAIR]

~snip~

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

Yeah, many countries still banned Bitcoin or crypto since it is always used by the wrong people as money laundry. If you can still invest in Bitcoin keep doing that since many people will start leaving banks due to high interest like in the US. As long as you're using money that you can afford to lose it will be fine.

Many countries ban bitcoin not because it is used to launder money but because governments are afraid. They have no solution to control it or prevent its development. If it grows and people use bitcoin instead of fiat then the power of the government will also disappear. The government is afraid of bitcoin not because bitcoin is being used for bad purposes, it's just their excuse.

[taufik123]

-snip-

Those who are afraid certainly have no other option but to reject bitcoin.
Even though Bitcoin or crypto is an alternative solution for a future payment.

Being afraid of not having full control has become commonplace.
Some heads of government began to accept bitcoin and some have banned it to date.

Bitcoin is used for bad purposes or so, it depends on each user.
Fiat can also be used to support a crime or for progress.

[noorman0]

_sinp-
I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

There is no prohibition for you to look for price targets and selling times as long as it makes sense and sure you still have to be like that to avoid too high expectations with bad coin choices. But speaking of regulations, actually this forum does not provide secret tips to circumvent local laws. Don't know how strict it is in its implementation, however any consequences should be your main concern because it can befall you at any time.

[Altryist]

A friend suggested Bitcoin to me about 1 year ago. I have been trying to learn the history of Bitcoin ever since. How to earn from Bitcoin, I learned that investing will make profit or loss. Success can never be achieved without risk. Then I became interested in investing in Bitcoin. My family is a very poor family. I am studying now and earning BDT 7000 per month from tuition, BDT 3000 I spend on running my household. BDT 3000 is my monthly expenses and I save BDT 1000, I save around BDT 10000 in a year and invest in Bitcoin. I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

Banks should not be trusted with your money for many reasons, and you should not keep money in a bank, if only because inflation will not be the best assistant for your money in this case. Bitcoin will save your money from inflation and even if it does not hit 100k on the new bull run in 2025, there is still a good chance that you can make a good profit.

It is very good that you were able to start being so smart with money, back in your student years. I also started saving as a student (even earlier), but at that time there was no bitcoin and I did not have such an opportunity as you have now. But I know the sooner you start saving and investing money, the more chances you will have to achieve financial well-being, continue in the same way and you will achieve success.

[Lorence.xD]

Investing in BTC as a student could also be stressful. Maintaining your grade as well the analysis on the market for your funds to grow is so stressful. Plus students might not have a huge amount of funds to invest so it would take a longer process which is not bad. If they are working student that would be the one reason for them to have a stress mind.

But in some scenario id the kid is really talented and could excel in both industry then that would be hell of an advantage which make them powerful. Since knowledge is power to change someone's life. Even some country they already introducing crypto to students.

[aylabadia05]

Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

Many have felt the positive impact of Bitcoin.
You are one of the people who are experiencing the positive impact of investing in Bitcoin. Continue to develop your life in your investment world by continuing to learn things that will bring you success through investing in Bitcoin.

Saving money in the bank is an old method that will not make us grow because they only tempt us through the interest we will receive.
The money we save in the bank, they will manage.
While our Bitcoin as the owner and we are in control.

May you always be successful in investing in Bitcoin.

[CryptSafe]

It is heard that many banks are going bankrupt and closing down.

It baffles me when I hear people saying banks are folding and going bankrupt but there are still fiat in circulation and in possession and if I may ask you this question, who are the custodian if the fiat? I believe you would say the bank so how come the banks are folding and going bankrupt.
I will only agree with you if you say account holders are beginning to move their funds out  from one bank to another bank due I some certain reasons best known to them or maybe their bank messed up big time and they decided to take such actions against the bank which has caused them going bankrupt and resulting to them folding up.

[Crypto Library]

~snip~

I welcome your move, Also, since you are new to this, I would advise you to be very careful with your investments because currently, the government of Bangladesh is not accepting cryptocurrency well. Many people have already been detained by our Bangladeshi government's law enforcement for their involvement & due to transactions in cryptocurrency. I am only warning you not forbidding you to invest,
I am just wanna aware you not forbidding you to invest. Invest as much as you can afford, even if it's a small amount of funds, you can gain better profits in the future. You can set a goal like investing a certain amount every month for long term, it will work like savings although no one can guarantee when the bull-run will start but if you continue investing from now I can say You can gain a good profit.

One thing I can say as a Bangladeshi is that if you can invest that money in Bitcoin than keeping it in bank then it will be much better for you. As security of money of Bangladesh Bank cannot be given by Bangladesh Government and Central Bank. Moreover, another thing is very important that due to the amount of inflation in Bangladesh, if you deposit money in the bank, you may or may not get that money back in the future. That is why you are advised to focus on investing in Bitcoin instead of keeping money in the bank.

You really spoke my mind, In the current economic situation of Bangladesh, holding the Bangladeshi fiat currency "taka" means loss. I am actually talking about the bank. Those who deposited money in the bank two years ago, their money has decreased by about one-third against the dollar.
So currently the condition of our country, without depositing money in the bank or whatever, it is better to invest in some place, in this case I think Bitcoin is the best. I myself have already started my savings through Bitcoin.

[|MINER|]

A friend suggested Bitcoin to me about 1 year ago. I have been trying to learn the history of Bitcoin ever since. How to earn from Bitcoin, I learned that investing will make profit or loss. Success can never be achieved without risk. Then I became interested in investing in Bitcoin. My family is a very poor family. I am studying now and earning BDT 7000 per month from tuition, BDT 3000 I spend on running my household. BDT 3000 is my monthly expenses and I save BDT 1000, I save around BDT 10000 in a year and invest in Bitcoin. I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025
But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.
Lately I think it is better to invest in bitcoins than depositing money in the bank. Day by day people have lost trust in banks. It is heard that many banks are going bankrupt and closing down.

I really want to appreciate you, because you are supporting your family while being a student. And I appreciate your bitcoin investment too, but since you are a student and bitcoin is illegal in your country, you better stay away for now. Still if you want to invest I would suggest you get help from your local community maybe they can tell you about security maintenance. Moreover, since you are a student, I will tell you that in addition to investing in Bitcoin, you can earn much more than the tuition you receive by gaining your skills. If you want, you can explore the different sections of the forum. There are almost all kinds of work opportunities here.

[ItsCrafty]

it's very successful decision that with study you also have thoughts about saving money and is a greater idea because there are very few individuals who think about earning money and they just use the money of their parents. Bitcoin increases in price year by year and that's a positive point towards bitcoin investment.

Although bank can also give you positive results but as compared to bitcoin the percentage of profit from bank is not much higher as that of bitcoin. In 2025 its true that the price will more higher as compared to the present one and its sure that in 2024 halving will occurs which will put more value in bitcoin.

[Myleschetty]

Glad you understand that holding Bitcoin is more profitable than saving funds in the market and the issue of the banks is just getting started. Besides, sooner or later a lot of fiat will lose value due to the government's mismanagement in printing new cash.
Bitcoin is seen as an illegal currency in many countries but the good news is that it can't stop you from investing in Bitcoin and the most important thing after your investment in Bitcoin is the security of your investment

[usekevin]

You was in bitcoin field over a year,So you will learn a lot form the bitcoin trading.Bitcoin trading is not like the altcoin trading,you need wait for the longer period as compared to the altcoin trading.Trading doesn’t have the word of loss in cryptocurrency,if you are ready to hold for some years.Because in every halves,you can earn more bitcoin profit.Every halves influenced the bitcoin price a lot.After the Covid-19,their was pump in the bitcoin price and the had reached the all time high of 68k dollars.Most of the holders had gained a lot of profit from it.Their was the expectation of bitcoin being raise above the 68k dollars in next year.Some people still fear to involve themselves to crypto currency by the fear of the bitcoin as illegal currency.

[DiMarxist]

But the main thing is that bitcoin is still illegal in our country, I invested bitcoin very carefully.

no one will be able to predict the future bull market. just make your trust in the investment you make. Bitcoin has provided answers to those who did believe in it years ago.
I hope your efforts to invest will not fail. although in your country it is still illegal, just pray that in a few years in the future the government in your country will open up with this huge update. although not as a substitute for fiat, at least ownership of Bitcoin assets is acceptable in your country. Hopefully.

Yes no one can be able to predict the price of Bitcoin in the future, Bitcoin prediction is very challenging  the market to surprise and make new history can excite us even more by making profits faster.  And if you have Bitcoin keep on holding, as an investors patience can be a big tool for getting success. No body can predict what can happen next in th market, but the price is getting step-by-step to bull market. And Keeps your research continue and learn from each event that happens. Holding  Bitcoin is one of the greatest achievements in the space because it is a leading project in the cryptocurrency market.

[Dr.Bitcoin_Strange]

Great, This is obviously good, and I just believe that this is how some people will continue to realize that stacking up money in the bank is not really so profitable; it's even not too safe these days. I got a debit in my bank account, and I was not even the one who performed the transaction. When I visited the bank to file my complaints, the bank customer service said they could not help me and that the only way I could be helped was to go and open a file at the police station for investigation, and to do that I would need to spend some funds, so I just got tired of the case and left the money to just go like that. I always used to say that I loved the concept of Bitcoin, but the fact still remains that Satoshi built Bitcoin for the benefit of the common man to be able to handle their finances in a digital manner without involving any third parties. But today, Bitcoin has turned out to serve its main purpose and also the purpose of investment, because Bitcoin has really made a lot of people millionaires and billionaires, and I believe there are still most people who will make millions of dollars out of Bitcoin. OP, your decision is cool, and I will advise that you also learn more about Bitcoin wallets and security and how to properly secure your investment. Do not trust anyone with your Bitcoin. when you see a message like, "Send 0.1 bitcoin to this address.. and receive a double of it in ten days." Run away from such messages; they are all scams.

Cheers 🥂

[hannahB4]

There is no rule saying when you invest in bitcoin you can't have savings in your banks. As a student now you can decide to split the money in a 70:30 ratio, bitcoin and fiat respectively so when the need arises you won't be in a rush to sell your bitcoin.

[Ryu_Ar1]

Cheers to you my friend I just want to say that being poor is not an obstacle in this case and you can still be in the investment as much as you can but don't push yourself too much for it because this is an investment that clearly has risks that are indeed the worst possibility is losing so you also need to look at this condition.
I was looking for BDT currency (because i don't know) but after seeing you seem to be from Bangladesh, hopefully it's okay there with all the conditions and regulations about bitcoin.

I will hold the investment for a long time. According to many researchers, we will soon see a bull market. Bitcoin will be over $100K in 2025

Don't be too focused on this because even though the hope is still very big, but on the other hand we also need to know that it is not a guarantee so don't feel too much that it is final because there could be something unexpected happening. especially in the current conditions of course when talking about investing, we glance in a farther direction so that before the target we expect arrives don't let you give up in the middle of the road.

There is no guarantee whatsoever about bitcoin but when we are sure of the progress being made then in this case I always think positively that the longer this will be the more beautiful to go through even though of course we know the obstacles are also definitely not easy.