My personal savings now I will invest in Bitcoin

[Jocuserious]

Never invest all your money in crypto currency. You should invest 50℅ money so that you can start new business with other 50% money in case of loss. Moreover btc price has increased a lot now and if it goes down in the future you can lose a lot. Don't be the last to invest and don't make the crypto market the first to trade.

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[Mpamaegbu]

I'll get roughly $1800, I don't think it's much of a savings to keep that money in the bank.

Bangladesh is a poor country just like my country and you say $1,800 isn't much? Really?

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

Investing into Bitcoin at a time like this will be a great decision you will be making. Apart from the fact that the market is expectant of a bull rally soon (that's if we aren't in it already) because of Bitcoin halving next year, putting it in it serves as an anti-inflation strategy. Cash poured into Bitcoin never loses its value.

[Agbe]

I have been involved with Bitcoin for a long time but am still thinking about investing here.

You have been involved in bitcoin for a period of time and that means you have been investing in bitcoin all these while. And you are yet to invest. One thing you have to know is, you can't invest bitcoin here. There is no investing board here. You can only ask for advise to invest and not to invest here. And it is not Bangladesh that have that inflation problem. Though I don't know the Bangladesh currency exchange rate with dollar if not other countries are also having the same problem.

[RewFrew]

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

Great thinking. Bitcoin investment is more profitable i think. You want to invest on Bitcoin it will best decision there has no doubt. Your DPS will be matured within this month and you want to invest on bitcoin it is best decision i thinl. Because in your country bitcoin is still illegal. And you could not trust on your local bank. So overall considering my advice Bitcoin investment is better for you. And i think your Invest on Bitcoin  is appropriate. I think it will be best use of your money.

[bayu7adi]

Do not place all your wealth in one place if you intend to invest. Bitcoin has the potential to bring profits in the future, given the possibility of price increases. Surely you have considered that there are many inexperienced individuals who have tried investing in Bitcoin and suffered losses.

I would highly recommend you to allocate a portion of your wealth to Bitcoin. As for your other assets, you can invest them in other options such as gold, which has proven to be resilient against inflation since ancient times. Alternatively, you can also invest in stocks while considering your risk profile.

[Casdinyard]

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

Way to go actually! Really pays you to listen to the news sometimes.

In any case I'd highly suggest you liquidate some of that money you got into your emergency funds if you have any, and then the rest can be saved into bitcoin. That way you'd have money you can play around with should things worsen in Bangladesh without having to touch your bitcoin investments yeah? I'm thinking you should also look into investing into other forms of assets like real estate, that way you can diversify your portfolio and maximize your profits while minimizing your potential losses. As we all know bitcoin's great for long-term investment but if you're looking into short-term profits it's not really the best one out there no thanks to its high volatility rate, so following these advices will surely give you the best chance at claiming profits even if Bangladesh's situation worsens.

[The Cryptovator]

If your life savings are not at stake, you have the freedom to invest in Bitcoin. However, it is crucial to conduct thorough research on your own. It is widely known that Bitcoin investments come with inherent risks, and it is important for you to be well aware of them. Bitcoin is a highly volatile cryptocurrency, and it may take a considerable amount of time before you can see profits from your investment. Furthermore, it does not guarantee financial gains; there is also a possibility of losses. Therefore, it is essential to be mentally prepared and invest only what you can afford to lose.

[tjtonmoy]

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

The world is still not fiat less. Also, Bitcoin is not a currency that has been adopted around the world. And you are talking about Bangladesh. Mate, I am from Bangladesh too. I can understand your situation. But always be cautious. The current situation of banks is getting worse day by day. It will be no surprise if they file bankruptcy in 3-4 months. We are in a situation where we are unable to choose either side. Crypto will put you in trouble and you might get put into jail. Just owning cryptocurrency of any kind can lead to this situation. So you need to keep your privacy safe first.

Then there's the problem of bankruptcy. If you withdraw the money from the bank, you may keep them safe to yourself. But the value will decrease over time due to inflation or other events.

What we can do in this situation is to keep both as an option. Divide your assets into multiple sections. Invest in multiple places. Land, metals (gold/silver), other businesses, etc. Keep some assets in fiat. This will help you in emergency situations. Also, you can find more opportunities and invest in them later on.

Lastly, the most important thing. Are the money you are willing to invest something that you can afford to lose? If that's not the case, then don't do it.

[hannahB4]

Like you said your savings is what you wanted to invest in Bitcoin but my question is if you have another source of income from these savings because you can't invest all your savings without having a stream of another income, if yes you can happily and rejoicingly invest your money waiting for your investment to grow.

[Reatim]

I would keep half between cash and the bank for emergencies, say $500 in cash at home, $500 in the bank and the other $800 in bitcoin, but keep in mind that it is very volatile and count on not using it for a long time. Over time, if you save more, you can buy more bitcoin little by little, following a strategy known as DCA.

While I am agreed about we must have cash and have bitcoin  but putting funds in bank for cryptonians like us is a big no no, the reason why we are in bitcoin investing is for not having a 3rd party interference so what about that banking ?
and also instead of telling to have some in banks? better to have it as cash than entrusting your money in bankers.

Always think before you invest to have 3 to 6 months of emergency expenses saved. Then you can invest. Otherwise you may be forced to unwind your investment (sell) if you need the money in the middle of a bear market at a loss.

even a whole year expenses that is the reason that people needs to have their money on hand always ready and only spare money will be for crypto investments.

[suzanne5223]

I would keep half between cash and the bank for emergencies, say $500 in cash at home, $500 in the bank and the other $800 in bitcoin, but keep in mind that it is very volatile and count on not using it for a long time. Over time, if you save more, you can buy more bitcoin little by little, following a strategy known as DCA.

While I am agreed about we must have cash and have bitcoin  but putting funds in bank for cryptonians like us is a big no no, the reason why we are in bitcoin investing is for not having a 3rd party interference so what about that banking ?
and also instead of telling to have some in banks? better to have it as cash than entrusting your money in bankers.

What I can say is that every Bitcoin investors have a different purpose or reason for investing in BTC and for some people it's just an investment for futuristic benefit but for people that understand the technical expectations of it, it's an alternative to escape the centralized abusive regulation.
Yes, it's a big no for every BTC investor to keep funds in the bank but everybody has the way she maintains her risk management.

[Wimex]

I think it's a fantastic idea that you want to invest in Bitcoin instead of leaving it in your bank, it's the same in my country, the quality of banks is mediocre, and basically keeping money in a bank where I live is a waste of money. . . That is why I also opted for BItcoin, it seemed like a way to make my money work in the long term, however I see Bitcoin as an investment method while if I want to save money so that it does not devalue, I do it in USDT, it seems another way to me safer option than a bank... on the other hand, if you plan to invest all your money in Bitcoin, I would not recommend it very much, leaving all your hopes pinned on an investment is not a good idea... You know what they say, no you should put all your eggs in one basket

[blackened515]

Like you said your savings is what you wanted to invest in Bitcoin but my question is if you have another source of income from these savings because you can't invest all your savings without having a stream of another income, if yes you can happily and rejoicingly invest your money waiting for your investment to grow.

Knowledge is power, there are other things to invest in apart from bitcoin, it's not necessary that we should invest our money in cryptocurrency. Investing all your personal saving in bitcoin, is definitely not a good decision and not advisable as a trader, bitcoin fluctuate alot in the market, we have volatility everywhere specifically in the bear season. I can only boldly invest in bitcoin when I'm certain about the hugh sums in my bank accounts and established businesses. It's always good to have multiple streams of incomes,

[pawanjain]

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.

I have laid out a general portfolio distribution and it depends on OP how he has to invest his savings.
In OP's case I would rather advice him to invest in bitcoin or gold or may be equally in both.
Since he mentioned a dollar fiat crisis in his country he should have some plan to liquidate his asset in case of emergency.
Gold will be a suitable option in that case.

[ImThour]

I would go with 30% of my fiat money in Bitcoin and rest in real fiat as you might need it real emergency. Bitcoin is a great investment however for that, you need to think a bit for long term. It's not a shortcut to tackle the high interest rates and low value of your fiat around the world, it's more than that. There are companies accepting Bitcoin and the Binance Card allows you to spend money on VISA accepted platforms with Crypto/Bitcoin. If it's not yet there in your country, I wouldn't recommend keeping more Bitcoin as compared to Fiat.

[Dzwaafu11]

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.

You said trading while also wanting to invest your money here; are you talking about the same amount of money, or do you want to divide the money you have into two, one for trading bitcoin and one for investing in bitcoin? Because, dude, trading bitcoin and investing in bitcoin are not the same thing. I believe you should focus on one; however, investing in bitcoin is a great thing if you are willing to take the risk that generally comes with the investment; nevertheless, before investing, you should do more study about what you are going to put your money into for your piece of mind.

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 don't think it's appropriate to counsel you on what to do with your money, whether to invest it in bitcoin or use it in another way, so because you indicated before that you've been involved with bitcoin for a long time, I believe you'll be the one to determine whether to invest or not.

[Blitzboy]

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

The world is still not fiat less. Also, Bitcoin is not a currency that has been adopted around the world. And you are talking about Bangladesh. Mate, I am from Bangladesh too. I can understand your situation. But always be cautious. The current situation of banks is getting worse day by day. It will be no surprise if they file bankruptcy in 3-4 months. We are in a situation where we are unable to choose either side. Crypto will put you in trouble and you might get put into jail. Just owning cryptocurrency of any kind can lead to this situation. So you need to keep your privacy safe first.

Then there's the problem of bankruptcy. If you withdraw the money from the bank, you may keep them safe to yourself. But the value will decrease over time due to inflation or other events.

What we can do in this situation is to keep both as an option. Divide your assets into multiple sections. Invest in multiple places. Land, metals (gold/silver), other businesses, etc. Keep some assets in fiat. This will help you in emergency situations. Also, you can find more opportunities and invest in them later on.

Lastly, the most important thing. Are the money you are willing to invest something that you can afford to lose? If that's not the case, then don't do it.

The cryptocurrency revolution hasnt taken off yet, but it is. See Bitcoin. From nothing to a big name, it inspires amazement and mistrust. Its our future. Bitcoin and other cryptos can replace existing banking institutions should they fail. VPNs and digital wallets protect privacy. Smart transaction timing is crucial.

Crypto, like everything else, has hazards. You're right: diversifying investments is the key. Invest in tangible things, cryptos, and fiat for emergencies. Balance your portfolio. Finally, never invest more than you can lose. That wisdom is timeless.

[summonerrk]

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

With a serious approach, you will succeed with the right measure of self-discipline in investing. It is important to choose the moment of purchase. Let you have recently been on the forum, but I advise you to read and study the information in local trading topics, experienced people there will advise when it is better to buy bitcoin. After all, if you do not study the technical analysis of bitcoin charts, you can buy at an expensive price for the current moment, and after a while your deposit will decrease.

This is my guess:



For example, here is my forecast. You will see a description on the link. I will not duplicate it in translation. Translate it yourself from Russian, maybe it will be useful information for you.

https://bitcointalk.org/index.php?topic=2235093.msg62517470#msg62517470

[Cookdata]

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

Are you familiar with Bitcoin or are you just hearing it but have not interacted with it? I will assume the former. Bangladesh^[1] is doing anything to get dollar to meet up with the volume of petrol the people are using in the country and there has been instability with the rate of export and this is why the dollar has become scarce but that amount you invested for a period of 5 years is too poor, I'm not a rookie but if you have invested that money in Bitcoin for every month to now, you will have been proud of yourself but better late than never.

Lets forget the past tence and discuss the presence, you can use your savings to buy Bitcoin but I wouldn't advice you to use everything. Divide the amount into half and buy Bitcoin and keep the rest pending the till the end of the year, if there is decrease in price prior to that period, use the rest to buy Bitcoin and if it never comes down, still buy because no matter what, you will make some money out of it because halving is the leverage that will protect you from losses for short term profit.

[1] https://www.reuters.com/world/asia-pacific/bangladesh-struggles-pay-fuel-imports-dollar-crisis-worsens-letters-2023-05-22/

[JoyMarsha]

I don't bother to keep any money in the banks again until I need fiat that I want to spend on something or buy food items, all I care about is eating food and investing my money that's why I invest almost all the money I made from my business into Bitcoin and few other crypto projects, I am fine with living this way, some food to keep living and make more money to invest for my own better future.

I strongly believe that this is one of the ways I can get things done in life, I decide to start and finish my own house in two years from now and I will be doing this with part of my investment, I am excited to see how this will turn out in two years time and mind you, if things go wrong I can always restart, it's part of life and mine is adventurous to me that's why I like doing this.

What I have observed regarding crypto investments is that when you have goals and desires related to crypto investment, you won't be afraid to risk everything on bitcoin and other crypto projects that fascinate you. You will continue to believe that what lies ahead for your crypto investment is worthwhile for you to take a risk now in order to achieve financial freedom. I can tell all this from what you said that you enjoy doing.

Since you have trained your mind to not be swayed by the price of bitcoin or other altcoins you want to invest in or have already invested in, I wouldn't suggest someone who lacks the mental fortitude to pursue the same action as you. Whether or not it will be financially advantageous for you or them.