My personal savings now I will invest in Bitcoin

[Stable090]

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.

Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.

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

Lots of banks are going bankrupt in different countries, so it’s better you know the amount which you will be leaving in bank, since you have been hearing about bitcoin for a long time then why don’t you just invest in bitcoin? Bitcoin investment is really a nice idea but I won’t recommend you invest all the $1800 in bitcoin, make sure you split the money and invest some part in bitcoin, you don’t have to invest all your savings in bitcoin, don’t invest any amount that can hurt you if you lose in bitcoin, and when investing you should be ready to hold your bitcoin for long term.

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[WatChe]

Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.

Its good that OP has finally decided to invest in Bitcoin despite the fact that he knows about Bitcoin for a long time, "better late than never.". There are many people who knows about Bitcoin but feat to invest in Bitcoin because of different reasons. Overcoming your fear to invest in Bitcoin is biggest challenge in Bitcoin investment. The sooner you overcome your inner fear, better it is.

Lots of banks are going bankrupt in different countries, so it’s better you know the amount which you will be leaving in bank, since you have been hearing about bitcoin for a long time then why don’t you just invest in bitcoin? Bitcoin investment is really a nice idea but I won’t recommend you invest all the $1800 in bitcoin, make sure you split the money and invest some part in bitcoin, you don’t have to invest all your savings in bitcoin, don’t invest any amount that can hurt you if you lose in bitcoin, and when investing you should be ready to hold your bitcoin for long term.

"Invest as much as you can afford to loose". 1800 USD is almost equal to 2 million Bangladeshi Taka which is quite a money. Since OP is investing for the first time, its better he invest only some part of it to get necessary experience and knowledge.

[Blitzboy]

Its commendable that you're looking beyond the Bangladeshi economy for investment prospects. Bitcoin, being decentralized, is immune to the economic woes of any single nation. Because of this, it seems like a good choice for you.

You are making a forward-thinking move by putting $1800 into Bitcoin. More and more people are starting to believe that cryptocurrencies like Bitcoin and Ethereum can provide superior returns to more traditional investment vehicles. However, one cannot ignore Bitcoin's extreme volatility.

Always keep an eye on the market and only invest what you can afford to lose. Its going to be a bumpy road, but the payoff for sticking with it could be great. Bitcoin is a promising new frontier, and I applaud your guts for diving in headfirst.

[fauzan Ichsan]

I think investing in bitcoin is more suitable than you collecting money for 5 years and if you look at it without interest, while inflation continues to increase. but before you invest in bitcoin, I think it is necessary to study it first, after that you can determine the feasibility of investing in bitcoin, don't just be tempted by other people's stories about bitcoin, but we ourselves must understand, before investing

[D ltr]

with economic conditions that are not good, we have to be careful in investing if you have $ 1800 in the next 5 months, my advice is that you have to divide the money so that during an emergency you can use your money
let's say 50% of you save it in the form of bitcoin
25% in fiat that you save in savings
Another 25% you invest in gold bullion
maybe my advice is not so good but i would do it if i had money like you

[Tony116]

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.

Why are you still thinking about investing in bitcoin? But already know about bitcoin for a long time, are you still having doubt about bitcoin, maybe it will crash to zero or maybe you are just scared to invest in bitcoin. Someone that knows about bitcoin for a long time shouldn’t be thinking about investing in bitcoin if the person is having money to invest, but I don’t know maybe you are having another reason why you are thinking.

He knows about bitcoin doesn't mean he understands all about it if he has never learned about bitcoin before, but when he was interested in it, and now he wants to invest. Like many people in the past, when they first heard about bitcoin, they ignored it, but after many times, they started to learn and invest in bitcoin.

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

Lots of banks are going bankrupt in different countries, so it’s better you know the amount which you will be leaving in bank, since you have been hearing about bitcoin for a long time then why don’t you just invest in bitcoin? Bitcoin investment is really a nice idea but I won’t recommend you invest all the $1800 in bitcoin, make sure you split the money and invest some part in bitcoin, you don’t have to invest all your savings in bitcoin, don’t invest any amount that can hurt you if you lose in bitcoin, and when investing you should be ready to hold your bitcoin for long term.

Honestly, the recent collapse of US banks is worrisome for their economy, but that doesn't mean other countries' banks will collapse as well. I have not seen a bank in my country go bankrupt. We should invest in bitcoin for the profit and benefits it brings but also should not speak ill of banks, it also does not make bitcoin better. Banking will still be an integral part of our lives, and we will still use it in our lives, whether we like it or not.

[Stella Mese]

I think you have to think about it carefully before you buy bitcoin because in my opinion investing in btc is something risky, but if you are ready with the risk of investing in btc, I think you can start buying btc and use the dca system in purchases.

but I think you also have to think about your needs and your interests in living this life, so I think you can buy btc but only half of your savings, but in this case the decision is yours. I hope your investment in BTC goes smoothly and I hope you get big profits.

[LogitechMouse]

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 did a quick google search, and it seems like Bitcoin is considered illegal in your country.
Are you sure about your decision? Are you sure that you are willing to risk your life, your savings, and everything just because you want to invest into something that's considered illegal to your country?

I'm not encouraging you to invest into Bitcoin especially if it's banned. It would be better if you will just invest it into other assets like the Stock Market or Bonds if you want. Yes Bitcoin can give you higher profits in the long term, but the risk, the feeling of getting anxious, the feeling of always thinking "what if I will get caught that I have Bitcoins?". Those mixed feelings might affect your whole life. I know that the economic condition in your country seems bad because of several reasons, but it would be better if you will just spend that money, and go live outside your country if you really want to invest. If you believe that you can still get a job even you live outside Bangladesh then do it.

I just hope you a good health in the end.

[Oasisman]

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 did a quick google search, and it seems like Bitcoin is considered illegal in your country.

Yeah, I've remember Bangladesh does not allow crypto trading and it is against their law and that will make the OP's financial status to be difficult he put all these money into bitcoin.
Though there are ways to prevent from getting sued by the government while you're secretly trading in Bangladesh since there are a few exchanges that works in their country, but this will add to the risks bitcoin already has.
So, the best advice for the OP is to just put like 50%-60% of his money to bitcoin and keep the rest for emergency purposes.
That would be the least risky move I've come to think of so far.
It's kinda difficult to get caught trading crypto in a country where it's deemed illegal.

[zaim7413]

Glad to hear you decided to save money in Bitcoin after going through a long process. If 5 years ago you had started saving money in Bitcoin instead of in a bank, I'm sure you would have gotten more profit after seeing the price now. The increasingly difficult economic conditions require you to be more careful in choosing a place to save your money, at this time a bank is definitely not the right place. Withdraw all the money in the bank and then start saving it in the form of Bitcoin, you must be sure of the potential stored behind Bitcoin. Banks may go bankrupt, but Bitcoin will grow in the future.

[Magic-Money]

The cryptocurrency market is really fluctuating for a long period of time, which the Bear market is going to be close and enter Bull Run market, which every one has to seat up by investing Bitcoin and hold for a long term, in other words nobody knows actual time Bull run market is going start, but is a good idea to make some shavings by investing on Bitcoin and hold in the wallet that is going give more profitable business than leaving you're hard earned money in the bank, that is not going to yields any interest, but rather bank will be taken transaction and ATM maintenance change fee's and money Keep depreciating, as a wise person and is a right decision to invest in Bitcoin as the crypto market is down.

[Z390]

What do you mean by personal savings? I believe part of your savings is what you should use to invest in Bitcoin, not all your savings.

If this is what you do I hope you understand the risk, your personal savings can go way down like 30% and I do hope that won't make you get worried.

The best advice is invest what you can afford to lose, let's not pretend as if Bitcoin investment is risk-free, the risks are still here because Bitcoin is created in a way that the price can't ever be stable.

[Litzki1990]

For five years you have painstakingly deposited some money in your deposit account every month and now you are relying on Bitcoin without relying on the bank, that means you must have gained enough knowledge about investing in Bitcoin. Since you have earned this wealth for five years, you should have invested half of your net worth in Bitcoin and the other half in a savings account. Because if you lose by investing, you will get good support from the saved money in the future because after you invest in bitcoin, if the price of bitcoin falls a bit, you will not be able to sell bitcoin anymore, so 50% investment might be a good decision for you.

[Asuspawer09]

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

It's a good opportunity while the market price of Bitcoin still didn't skyrocket, there is still a lot of time before the bitcoin halving meaning you could still accumulate bitcoin for a good profit in the Bullrun. If you're going to check the history timeline of bitcoin every halving you could easily notice that the market price every time after the Bitcoin halving event always skyrockets. I mean you don't really need to invest a big amount of money when you're going to start if your dollar cost average to lower your risk of losing your money, 100$ or even lower might be a good amount for starting and then you could just accumulate just like saving your salary or your money but the only thing is your putting it on Bitcoin for a potential profit compared to saving that has a very low interest.

Start your journey since you already have a lot of knowledge of cryptocurrency you already know what you're going to do, also you have this forum that you easily help you if you encounter some problems.

[Botnake]

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

Pursue your decision because that’s the best thing to do when fiat is struggling to achieve its high value. However, my only advice is to never put money in an investment that you cannot manage to lose because once it’s lose, it will always be considered a permanent loss. That is why only invest at a small amount at first and once your principal amount has compounded, then start to adjust and increase your position to achieve higher returns.

[LDL]

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

Since you have decided to invest in Bitcoin, you should withdraw your DPS money very quickly and invest it in Bitcoin instead of depositing it in the bank. I am also a resident of Bangladesh and I am aware of the poor condition of the banking system in Bangladesh and any time your money may be declared bankrupt by the government. If you invest your $1800 in bitcoin and save it for five years in the future, I can say for sure that you will get your $1800 profit in about five days. But without further delay, you can contact the bank and withdraw your DPS money as soon as possible.

[Ziskinberg]

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

Investing in Bitcoin is one option to take but never I say you should. Why? Because considering your situation. you still have doubts and less experience and these are the factors that you will fail and lose your savings. I suggest studying more about crypto and making a decision with all of your heart and no doubts because it was hard if there are uncertainties in you. You can't live peacefully and keep bothered especially when you will see red on the market. Only invest when you are totally ready and are willing to understand the volatile nature of the market.

[inthelongrun]

That's the negative side of saving your money. After years of saving, the real worth of your money is lesser due to inflation. Even the interest rates of the banks are just way too small to offset inflation, especially for a country that has a struggling economy and you just mentioned that Bangladesh is facing financial problems.

Just like you, I also wish I knew bitcoin as early as possible. But there is no such thing as late in bitcoin these days. We're still in a bearish market and we are expecting it to recover starting next year.

[uneng]

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.

Due to the reason mentioned above I would avoid letting my money invested at local banks at all costs! During instability times we have to make sure our money is in our hands, and that is something Bitcoin can assure you when you hold your coins inside a custodial wallet.

I think your decision to invest in BTC is right, but you have to make sure it's going to be a long term investment. Don't invest money you are going to need in some months or in a year. Keep in mind Bitcoin is heavily volatile and this volatility can push the price downside for long periods of time (bear market), therefore it's not suggested you cashout your funds meanwhile.

depositing money in banks is just like for safe keeping. you will barely get an interest on this. better put your money in other investments that will give you better dividends. but if the OP will decide to buy btc, he should know the risks involved since he's not new in this market. gaining profits is a possibility but not a guarantee because it depends on when he will sell off his satoshis.
if i am the OP, i will allot some funds on a tangible asset like jewelry and then some in crypto. it is better to have a back up asset rather than investing all in btc.

In his case it's more complicated than simply earning tiny interest on deposited money at banks, because there is a real risk of losing the entire deposit as banks on his country, Bangladesh, are going bankrupt. And I fear if the bank where the deposited his funds crash, he isn't going to receive his money back, as the bank or the government is going to confiscate it. In crisis times we can't consider banks as a safe keeping. After all, if the money isn't on your hands, rather it's on middleman's hands, money isn't totally yours...

[khiholangkang]

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

Given your situation, I would be more likely to diversify my portfolio into bitcoin, fiat, gold and bonds.
Bitcoin might give better returns but depending on the availability in your country you may or may not be able to encash it at the right time.
Gold might give decent returns and you will be able to encash it since it can be easily sold at shops and so it will help you in case of any emergency.
You can hold some fiat cash with you so that you don't face any liquidity crisis and can plan things out accordingly.
You can hold bonds in case the banks go bankrupt then bond holders will still be on the safer side.

If I were you then I would divide my portfolio in below criteria
Bitcoin - 30%
Gold - 30%
Bonds - 20%
Fiat cash - 20%
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With the amount of $ 1800 in my opinion too small to be diversified, let alone divide it into 4 parts it will make the assets a little, for example as in Bitcoin, he will only save it $ 540, in my opinion it is too small in the investment scale. It is better for him to keep it all in Bitcoin by using a DCA strategy, for example 10% or $ 180 per month which in my opinion is safer and more likely to benefit, moreover we will see Bitcoin Halving, of course the potential is greater, after all it's a savings fund that he might not be too requires it for short -range needs except the situation it has the opposite.