My personal savings now I will invest in Bitcoin

[demonica]

You've mentioned that you've been involved with Bitcoin for a long time so I can assume that you know the pros and cons and I believe you can weight your decision whether it will be a good idea to invest your savings in Bitcoin or not. To be honest, it's hard to give a financial advice since I don't know your financial status and I am not that familiar with how's your economy doing right now. But if you really want to invest in Bitcoin but still in doubt, then don't put everything in Bitcoin. Only invest what you think you can afford since you might still need to use a part of your savings for something else.

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[ancafe]

Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

It is a much better choice compared to keeping DPS in the bank, the value of the currency will continue to depreciate and you will lose the opportunity to get a lot of profit in the system previously. Bangladesh has not legalized bitcoin and you have to invest anonymously to protect privacy, but when you have to try to maximize the amount as you mentioned, then it's best to share three things as a step to maximize the money you have, savings, cash kept at home and investments .

You can choose just enough to be placed in an investment and don't need it in its entirety because when you need cash is still available and you don't need to sell some of your investment assets in bitcoin. Uncertain economic conditions caused by inflation and recession can make your money unproductive, placing money in bitcoin is much more appropriate because your money does not lose value.

[lovesmayfamilis]

By itself, investing in Bitcoin will always be the right decision, but as you were warned above, you must understand that you will be violating the laws of your country. Despite this, there are many people from your country on the forum, and it would be more useful to consult directly in your local section. But in general terms, you should not invest amounts that you are not ready to freeze for a while. I think that one way or another, if you create a similar topic here, in any case, you already have a ready-made solution. As they say, there are always ways out of any situation. Be careful with your investments and be patient. One day, your country will probably change its views on Bitcoin.

[Obari]

I still don't understand if my decision is right, please let me know your opinion

You need to stop thinking  and start investing.
Your decision  is perfect and I believe  you're intended  to hodl for long since you could do that in the bank.
Since you've been in the Crypto industry  for long now, you should be aware by now that the best way to stay ahead of your country's economic crisis is through saving and investing in digital currencies and let bitcoin be paramount because it is one of the most reliable and since you're expecting  your money today, I will strongly back you to head straight to buying bitcoin  without fear and always keep buying at every stance you get an opportunity  to buy and smile  in 5 years time.

Goodluck.

[michellee]

I advise you not to invest all your money into Bitcoin because, after all, you need cash for your daily life so you won't have a problem if you want to buy something for your daily needs.

You can divide the money into several parts and use the money you can afford to invest in Bitcoin and other money to fulfill your life needs. It will be better for you because when the inflation rate increases, basic necessities will increase in price and if you don't hold cash, you cannot buy those basic necessities.

And it would be even better to earn income so you don't have to worry about meeting basic needs but still use the money you can afford to invest in Bitcoin.

[ringgo96]

For us crypto users of course, saving money in the bank will have fewer benefits that we can get because depending on the interest they give, then when many crypto users invest in bitcoin and altcoins because they already know the journey of bitcoin and can always provide very large profits even though the risk is greater than the bank but are very confident to invest in bitcoin, And as you said at this time there are indeed many banks that are in trouble so we are not comfortable to store assets in the bank, so the decision you make is very right and I am sure later you will definitely feel the benefits.

[Vaskiy]

Considering the prevailing situation of the banks it is good to move the funds to bitcoin. Bangladesh is one among the country that have made more restriction on usage of bitcoin. Some have suggested to invest partially on bitcoin and keep the rest in cash. By the time you should understand the risks, because when you're in need you can't expect the investment to return good profit as you need to have patience to hold. If you're with a good day job that can fulfill your daily expenses, then it is good to consider it a long term investment and try to increase the holding through trading.

[vv181]

Bitcoin is one of many options to hedge against FIAT, especially in your specific case where the local currency is worsening. Nevertheless, you should take consideration about another alternative besides Bitcoin, because what is concerning is if that amount of funds is the only savings that you got so you better take a precaution about the risks.

Essentially, you are the one who could potentially understand better about which one to decide. I encourage you to gather more information, especially about the risk ratio that you might get exposed to if you want to convert your savings into some investment instruments.

[taufik123]

Considering the prevailing situation of the banks it is good to move the funds to bitcoin. Bangladesh is one among the country that have made more restriction on usage of bitcoin. Some have suggested to invest partially on bitcoin and keep the rest in cash. By the time you should understand the risks, because when you're in need you can't expect the investment to return good profit as you need to have patience to hold. If you're with a good day job that can fulfill your daily expenses, then it is good to consider it a long term investment and try to increase the holding through trading.

There must indeed be financial management so that there is a division of money for investment in Bitcoin and for daily needs.
Apart from using savings to buy Bitcoin, leaving the savings money in place and buying Bitcoin with a sufficient amount can be for the long term.

If you don't have daily income or for daily living needs then use enough savings to invest.
Don't force the will if it can be for the long term.

Cash is still needed for emergencies.
Add to that a few different investment instruments.

[someone703]

I just want to advise you to do what is appropriate for your current life context, investing in anything should have a calculation and a specific goal, as OP mentioned first Bitcoin investment as well as the main instability story in your locality, I think it is better to have a lot of cash to facilitate life than to use it for investment. I've also witnessed some local lessons when the conflict broke out the banking system didn't work, and it seemed that cash wasn't always accepted either. So some problems like accumulating food, medicine, fuel for life to recover through complicated times, life is much more precious than money, so don't be too hesitant what you will do to make money safe. safe, but do whatever to keep you safe.

[posi]

As you say, you've been with bitcoin for a while, meaning you already know about the benefits and risks of investing in bitcoin. I think you can decide for yourself instead of relying on our advice because no one will understand what you're going through better than yourself. I can only give you advice that I think you already know, bitcoin is a very promising investment, and it is an opportunity to save us from inflation or the crisis that the government is having on us. But investing is always risky, so never put all your trust in bitcoin, you need to diversify your assets.

[nesty]

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

If you are well equipped with proper knowledge and understanding about investing in bitcoin, I think you are ready enough to invest. The only question is if ever can you afford to lose the savings that you have now? Because if you are not ready to lose that amount of money well definitely you are not yet ready to invest. Since you said you had been involved with Bitcoin for a long time now, for sure you know what strategy you will follow. The decision to invest or not in bitcoin would probably would be your personal decision, It would hard to seek for an advice then if you lose you will blame the losses on them. Be smart in making a decision make sure you are well equipped.

[GreatArkansas]

As you say, you've been with bitcoin for a while, meaning you already know about the benefits and risks of investing in bitcoin. I think you can decide for yourself instead of relying on our advice because no one will understand what you're going through better than yourself.
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I agree with this, it must always be a good thing that every one of us will know the risk of Bitcoin if you are putting your money on it.
Because no one will guarantee a win for Bitcoin, no one knows the future.

I also advice to OP that if you are investing your personal savings in Bitcoin, make sure to have extra fiat money somewhere else. And always your personal savings on Bitcoin will be easy to access and safe, like storing it to your personal Bitcoin wallet.

[Bananington]

I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Your decision to also have investment in bitcoins is better than keeping it all in the bank where it will be subject to loss in value from inflation. Buy bitcoins with the percentage from the savings that you can keep for long time until you make a target profit. keeping bitcoins will not be difficult for you since you already have the habit of being able to save money and prevent yourself from spending it when the time comes. Keep some cash that you may need accessible to you, and then plan to buy more bitcoins to add to what you will buy, buying once is good, but it is more encouraged to buy, and keep buying to keep.

[Eternad]

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

First of all do you need this money on other necessity or you live normally without using it because this money of yours is savings while Bitcoin investment requires a lot of time to make a decent profit from holding. Investing on Bitcoin is useless if the money that you will use for investment is needed on other necessity things.

Invest only what you can afford to lose. Bitcoin investment is indeed far better investment rather than put your money in the bank. But there’s a lot of risk involved in terms of price volatility. Evaluate yourself on how you can handle risk for your investment then decide aftwerwards.

[Crypt0Gore]

Invest what you can afford to lose, that's all I can advise you, personal savings is not enough honestly, I believe that you need an emergency fund aside too because if you keep investing your hard-earned money and some other emergency comes up you could be left with no choice but to sell some of your assets, someone who want to be a successful investor must be prepared for emergencies also, so that you can invest in peace and turn your dream into reality.

Believe me, many things will try to stop you once you have the determination to invest for a better future, you need to be full prepared.

[isaac_clarke22]

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

Well it's going to be a bit of a hell experience for you for now. I would advise to just not overdo Bitcoin transactions too much as it could put you behind the bars considering that Bangladesh govt bans the usage of crypto. You said "likely" to go bankrupt which means there are still possibility that there won't be

If you could do personal transaction, that would be better rather than getting your IP detected involved in crypto transactions around exchanges and putting you at risk.
I am not sure how strict the laws are in there so don't fully take my advice if I am misunderstanding the whole situation.

[kaseygriffin]

If you are concerned about the risks of bank failure but are you really worried about the risks of bitcoin, we need to be fair to look at things from different perspectives.
If you are really financially comfortable and this investment amount does not bother you much in the long term, then I recommend you to invest in bitcoin, and wait for it for the next 2 years, I is also quite confident and speculates that at that stage we will be in a new bull cycle and bitcoin could hit a new all-time high.

[Ale88]

I have been thinking about trading in Bitcoin for quite some time now. I have been involved with Bitcoin for a long time but am still thinking about investing here. I used to run DPS in bank for 30 dollars per month for 5 years, this DPS will complete 5 years this month. I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank. Bangladesh is suffering from severe dollar crisis due to which many banks are likely to go bankrupt. The names of those banks have not yet been published by any mass media. Because of the economic condition of Bangladesh, I want to invest my money in Bitcoin. I still don't understand if my decision is right, please let me know your opinion

I see two completely different things there. If you want to do trading then you must be 100% sure you know what you are doing because, on average, 80-90% of the people doing trading end up losing their money, do you have enough knowledge to be better than that? How long have you been studying technical analysis, etc? My suggestion would be to simply buy and hold otherwise you could lose your money very quickly.

[Accardo]

I think Op should be focused on the recent economic crisis happening in his country and hold his money for tougher days. Bitcoin price may not be favourable to him at a time like this. Which could cause him more harm if he losses his savings. Patience is the key, when he is sure of his moves not becoming a hindrance to his financial economy in future, he can invest in bitcoin, with lesser fear or doubts in him.