As an undergraduate, is it advisable to invest my trustfund in Bitcoin?

[Macoach]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

[1715321416]

1715321416

[1715321416]

1715321416

[1715321416]

1715321416

[1715321416]

1715321416

[1715321416]

1715321416

[Zaguru12]

I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

Your friends narrative about bitcoin is both wrong and just a little bit right. Bitcoin doesn’t get you really wealthy as you put it out to be. It is usually for transactions but due to its volatility and limited supply it is the advantage of been a store of value and People save in it to avoid the devaluation that comes with the fiat currency. It is this volatility that causes it to have a ROI and people gain profit from it when it is hold on to for long time or bought at a low price. But it doesn’t burst up like you painted it to be

So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

This seems more of a critical question, one of the first thing in investing in bitcoin is having to invest an amount you can afford to lose and this is not any amount you can afford to lose so it is a No. Also the timing for when you will want to get back the money or withdraw is very important. The market might be in bearish period and you would need the money back and selling it off that period could result in a loss for you.

So the question is how long are saving this money for, if it is above 5 years then it would be advisable to save in bitcoin since the fiat value is threatened with devaluation when hold for long due to inflation. But if it less than then I wouldn’t advise you to save in it.

Also you need an extensive knowledge on how to safeguard your funds, so before getting this knowledge do not go on and just buy. Lastly stay away from other cryptocurrencies as investment coins.

[Coyster]

People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

Don't listen to everything that people tell you, DYOR about Bitcoin. It is not a get rich quick scheme, but a long term investment, and how much savings are we even talking about here that you want to get really wealthy with through Bitcoin?

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

There is actually quite a lot of information about Bitcoin that you can learn online and in this forum too, but mind you that buying Bitcoin when you have no idea of what you're buying, and only because you want to get rich is a recipe for failure, you'd lose your Bitcoins to the cheapest scammers on the network because you didn't pay attention to what's important. Having said that, buying Bitcoin with a part of your savings is a good idea if you do what i said above and follow the rule of thumb of not investing more than you can afford to lose.

[BD Crypto]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

According to my observation you are a newbie and don't know details about What is Bitcoin, How it works and How it is a potential investment, How to secure your Bitcoin.

So first learn every details about Bitcoin and about it's advantages and risks so that you may not regret in future if there is a unexpected dump. I will suggest if you can hold it for long term then you can easily choose Bitcoin. Holding fiat currency isn't a good idea as it has inflation. If I was you then I will study much more about Bitcoin and research by own to decide if it's suitable for me or not. But to suggest you I will say obviously Bitcoin is a potential investment but you have to know the correct way or time to enter. You can do DCA (Dollar Cost Averaging) to make a good investment plan. And hold your Bitcoin in a Hardware wallet or in Open Source non custodial wallets like Electrum, Blue Wallet, Micelium Wallet etc.

To learn details about Bitcoin you can read this article: What is Bitcoin?

[Kodec5]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Deciding to invest in Bitcoin or any other cryptocurrency as a student is a personal choice. It's important to carefully consider the risks and potential rewards, as the value of cryptocurrencies can be highly volatile. Make sure you're financially stable, have an emergency fund, and are comfortable with the possibility of losing the money you invest. It's also a good idea to research and understand how cryptocurrencies work before making any investment decisions.

[Beparanf]

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Who is the source of your money in the trust fund and is your money on your savings is not for your school expenses? I believe buying Bitcoin is really a good idea if the money you will be investing on Bitcoin is just personal savings and not for your school expenses.

Bitcoin is very good investment to fight inflation because it’s value is not related to fiat while the supply is very limited. Your Bitcoin will surely grow in fiat value when inflayion hits hard. But you should be aware that Bitcoin is not an instrument of wealth or something. Bitcoin is an which doesn’t affected by inflation. Bitcoin price grow because fiat value is decreasing while the demand for it is increasing due to its limited supply.

[Peanutswar]

In investment, dont put all of your savings it's a dumb idea, because in case of emergency you have a small amount of money for your needs, instead invest few of your money to the crypto if you still really want to. Currently we are in the down of the market people are waiting for the next halving and accumulate as possible, you can ride with it or make a trade for a daily or weekly basis to gain profit for the short term and hold for a long term. If your allowance is your source of income manage this properly but if you are a working student seems ideal make invest only your super extra, I know its hard to become a working student too so make your study well and invest when you afford now.

[Upgrade00]

So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Not really, it all depends on your risk tolerance and your other financial situation which you have not revealed here. Investing is a risk, you have to understand and accept that there are no guarantees that you will profit in the end despite historical data on that investment.
You also need patience; if you do not have enough money at your disposal to handle other expenses then do not risk all your savings in Bitcoin.

People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

Depends on your definition of wealth really.
Ten years ago Bitcoin could give you a profit of ×1000 or more from your initial investment, but not you should realistically expect a Mac of ×4 during the bullrun season and depending on what price you bought at.

You can hold longer that the next bull run and have a ten year or more target, but there are still no guarantees of wealth.

[Agbamoni]

If you save up some money and use it to buy Bitcoin, there's a chance the value of your Bitcoin might go up really fast, and you could make some extra money. But, on the other hand, it could also go down just as quickly, and you might end up with less money than you started with. It's important to think about whether you're okay with the idea that your money could go up or down in value. Are you someone who's cool with taking a bit of a chance, or do you prefer to play it safe?

As a student also consider what you need your money for. If you have important stuff like bills or loans to pay, maybe those should come first before you think about Bitcoin. And if you're using money from a trust fund, make sure it's okay to use it for Bitcoin.

[Lakai01]

-snip-
I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

There are some problems buried in this statement, in my opinion:

• Bitcoin is a high-risk investment and should be treated as such. Therefore, you should never invest more money in Bitcoin than you are willing to lose.
• As an investor you should never follow investment tips blindly, crypto influencers who promote "the next big thing" will teach you a hard lesson otherwise
• "this thing called cryptocurrency" shows that you haven't really dealt with the topic(s) in general. Here I would strongly recommend you to read up on what Bitcoin (and cryptocurrencies in general) are and why Bitcoin is so much more than an "investment to get rich quick". Only after you understand that would I think about buying Bitcoins. When this time comes, the first point applies again: never invest more than you are willing to lose.

You can find a lot of information about what Bitcoin is, how Bitcoin works and what is so ingenious about Bitcoin here in the forum - or via simple Google searches. For example, you can find a great video right in one of the pinned threads here: Newbies - Read before posting

[Taskford]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Try to know first how far your knowledge about bitcoin since if you are newbie which I think that it is since you ask this question then this is not really advisable for you to do knowing the risk is high so you might lost your trust fund in quick bad market action.

Better use small amount first to test the risk so that you would know that its really hard to do quick decision especially that money is saved for 3 years. Don't rush to do some decision making on risky matters study first before participating on anything.

[btc_angela]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

It's not that easy to become rich though, and that is the very first mindset that everyone got wrong in the beginning. Bitcoin investment is not a "get rich scheme", and there are a lot of scammers here that you attract you to invest in them and make claims like x10 or your investments will grow overtime in just short amount of time.

As for putting your trust fund into bitcoin, just remember that there is a big risk as well. As market moves in a bear to bull market in a 4 year cycle span. So it's not going to be very easy to you to see your money going down in a bear market.

[inthelongrun]

Is bitcoin a good investment? Yes, it is. But it won't make you rich especially short term and there are also no guarantees in the long run. My assumption of bitcoin price is like 300% in the next 2 years. That's very far from making someone rich but way better than making your savings sleep in the bank beaten by inflation.

You can learn a lot in this forum. As you explore the different boards, there are pinned threads and you can read them before delving into many other topics. Stay away from scammers by not entertaining any direct messages from strangers. Good luck mate.



 

[Findingnemo]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years.

"Divide and Conquer" or "Don't put all your eggs in one pocket".

Either one of these can serve as the direct answer to the question you have been asking but don't ever think that Bitcoin will make you rich then there is no guarantee and it is just a tool and how good you can play with it tells the real answer.

If you are not ready to lose the money that you are about to invest in Bitcoin then don't invest at all.^{(*Investments are subjected to market risks)}

[Nwada001]

One of the reasons why it is advisable for you to save your money in digital currency rather than your local fiat is to avoid inflation up to a certain level. Just as you have stated that the money you have today does not possess the same purchasing power again as the value of the fund has reduced drastically because of inflation, if you are not going to be in a hurry to make use of the money that you have saved up for about three years, then I will advise you to choose Bitcoin as a means of saving those funds, but you can consider it as an asset used in stocking your savings rather than a get rich quick means as your course mates have advised.

Having a higher expectation when it comes to the amount of profit that you will be expecting to get from Bitcoin might lead you to disappointment, which might result in panic selling out of fear because you are not getting what you were expecting as told from the beginning. Instead,  focus on the amount you can be able to buy and hold before the end of your schooling. Maybe if luck is on your side and your selling time falls under the bull season, then you can grab those decent profits.

[Sakanwa]

In investment, dont put all of your savings it's a dumb idea, because in case of emergency you have a small amount of money for your needs, instead invest few of your money to the crypto if you still really want to. Currently we are in the down of the market people are waiting for the next halving and accumulate as possible, you can ride with it or make a trade for a daily or weekly basis to gain profit for the short term and hold for a long term. If your allowance is your source of income manage this properly but if you are a working student seems ideal make invest only your super extra, I know its hard to become a working student too so make your study well and invest when you afford now.

I am with you on this, normally before one engages in any investment,the first thing that is adviceable to do is to make proper research about that particular project you want to invest in,there are different things to consider while making research on that,
1. You must try to know about the period of time it will take for that project to yield a good result for you.
2. You must try to know the strength and weakness of that project.
3.You should look at the amount you have at hand,and know the amount you use in starting it.Having at the back of your mind that while starting an investment,you don't start with a huge amount of money to avoid regret,you should atleast try it with a little amount of money and see the outcome before putting in a reasonable amount if it actually comes out very good.
4.You should try to seek advice from people that are experienced in the field to have an in-depth knowledge about what you are into.I believe these are some Cardinal points you should atleast consider before making any investment.

[yudi09]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

Hopefully there isn't something or other behind your narrative that wants to get answers about whether or not it's worth investing a trust fund in bitcoins. The essence of the narrative written into this topic is to ask whether the existing funds are suitable for investing in bitcoin and getting rich.

Bitcoin is not a scheme or method to get rich quick. Finally, I said in a post about investing in bitcoin that there is no guarantee that investing in bitcoin will benefit quickly by seeing the price rise quickly as in other types of investment because the price movements of the crypto market are very volatile, but I dare say that investing in bitcoin could be the best way to preserve the value of your current fiat money in the long term compared to other coins in the crypto space.

You have only heard about the types of benefits that will be obtained when investing in bitcoins, but the risks involved when investing in bitcoins also need to be known from anyone who explains to you about investing in bitcoins.
I hope I'm not wrong in answering your question.

[cryptoaddictchie]

Thats a high risk gamble in my opinion. Yes bitcoin is good but you are talking about your trustfund. Anything could goes wrong on the market and thats not gonna be reverted once a bad situation occured.

Why not invest part of yout trustfund but not all. Going all in is a bit extreme especially you are just a student yet. You dont have any source of income and what if you needed it for emergency purposes and somehow thr bitcoin price is below your entry. Means you are still at a loss would you able to bear that withdrawing at a loss just for an emergency.

[michellee]

Good idea or bad idea, only you will know. But there's nothing wrong with using your money to invest in Bitcoin but with a note, you won't be using that money shortly and still have some other money for daily needs and a reserve fund.

Many people have been wrong to start investing in Bitcoin because they use almost all of their savings by buying it. It may be a wise move if a Bitcoin bull run is imminent but no one knows when a bull run will come. And before you start investing in Bitcoin, you should learn more about how to start investing in Bitcoin so you don't go wrong and can still learn calmly while waiting for the bull run.

Apart from that, you also have to learn self-control in investing in Bitcoin because the market is very volatile and if you don't have good self-control, you might just panic and end up selling Bitcoin at a loss. Don't let this happen to you. Therefore, you should learn more before investing in Bitcoin.

[sokani]

I'm a student still studying, and I've been putting away some money from my trust fund over the last 3 years. Because money doesn't seem to buy as much as before in my country and maybe even everywhere, I'm thinking about what to do with my savings. I've been hearing about this thing called cryptocurrency and Bitcoin. People say you can buy Bitcoin and become really wealthy. Even one of my classmates told me the same thing.

I talked to my classmate, and he said I could learn about it on my own because there's a lot of information out there. That's how I ended up finding this forum. So, here's what I want to know: Is it a good idea if I use the money I've saved up from 3 years of my trust fund to buy Bitcoin?

I think you have the wrong impression about Bitcoin, you should know that Bitcoin is not a get rich quick money scheme, so don't expect your investment to make a x100 returns anytime soon. As a newbie with no knowledge about bitcoin, I wouldn't want you to invest with blind trust rather spend sometime in learning everything you need to know about it before committing your funds. Another important area I would want you to familiarize yourself is wallet security. It would be really sad to invest your trust fund and have your wallet compromised or funds stolen by a hacker.