Saving Money Should You Save Money To Invest In Cryptocurrencies?

Good-Guy

VIP Contributor
We save money for various kinds of things. Some of us save things to buy expensive gadgets such as smartphones, cameras, tablets, etc. Some of might be saving money in order to invest money into various kinds of businesses. However, right now, I am planning to save money to invest in cryptocurrencies. Let's say if I buy $100 worth of Ethereum right now, it would probably increase a lot by next five years. However, I must forget those $100 for five years because cryptocurrencies are a risky investment. However, the chances are that if I invest $100, I will get good returns after the five year period. Moreover, choosing the right coin is also the key to investing in cryptocurrencies. If we choose the wrong coin, we may end up losing money, but I still believe that coins with high market cap value will perform better. What do you say?
 

Suba

Verified member
Personally, I've been investing in crypto for a long time (albeit a small amount). Choosing the right crypto to invest in is a must, but if you are still in doubt choose bluechip crypto (Btc and Eth). If you invested in Bitcoin $100 ten years ago, how much would you make profit now. This is not a recommendation but think twice before investing in crypto as prices are very volatile.
 

Mika

VIP Contributor
I have some crypto assets. I did not spend my fiat currency to build my crypto assets. Instead, I saved my payment from various, earning sites, including this forum, to build my crypto assets. Even though I have been using the crypto payment for a long time, I started saving only since the beginning of this year. In just bout one year, the value of my crypto has reached $1500. If I had started saving my cryptocurrencies, I would have been able to build a good crypto portfolio. However, I was converting my cryptos into fiat currency and using it for paying bills.
 

lamia5765

VIP Contributor
The problem from your pocket money you will be unable to invest in cryptocurrency for a simple reason a pocket money for student can hardly feed their needs like for example print courses or buy papers used to write lessons or even buy a coofee in the morning with some cakes so this pocket money feeds your needs hardly. Most of time, students invest received payments in crypto currency from various paying platforms.
 
OP
OP
Good-Guy

Good-Guy

VIP Contributor
Personally, I've been investing in crypto for a long time (albeit a small amount). Choosing the right crypto to invest in is a must, but if you are still in doubt choose bluechip crypto (Btc and Eth). If you invested in Bitcoin $100 ten years ago, how much would you make profit now. This is not a recommendation but think twice before investing in crypto as prices are very volatile.

I believe that cryptocurrency investment has great future. Some people have claimed that Bitcoin is no longer a profitable investment, but I disagree with them because the price of Bitcoin will rise to around $90,000 in the next upcoming years. So it is profitable, but we must not anticipate it to rise quickly. This is why I no longer trade for short-term when it comes to Bitcoin.
 
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