Can you invest your life savings on bitcoin?
The answer is straight no.
What do you know about life saving, what is it?
Life saving means some money which you save for emergency stuffs of your life. So that you need not to worry about money on emergency cases.
In case of investing on bitcoin you might not get the money in your need. On crypto market there is always up and down. If the market goes up then it's ok but if thr inverse happena then you will be doome. You have to sell you bitcoins on low Price and you might get less money than your need. In life cases you should not take risk and investing life saving on bitcoin is a real risk. You shouln't do this.
If you really want some profit from your money, you can deposit it in bank which gives some profit for depositing money. You may not get much but you savings are safe and can be said your life is save.
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You should invest whatever you can lose, not more than that
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No one want to lose money. One should invest only that amount which losing doesn't affect him/her.
I agree with you with some change.
Putting money in the bank condems you to lose due to inflation and currency devaluation
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cheesus christ no no no :)
the answer is NO ...... i think that's enough for me :p
I can't invest all my money in bitcoin as it's highly volatile. It's best to invest what we can afford to loose
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Well obviously you can do it if you want to, the question has to should you invest your life savings in bitcoin and thats a hard no. The crypto market is new unstable and unregulated. In 5 years we don't know what state it will in be so you should only invest what you can afford to live without.
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i think don't only focus investing only in bitcoin will be better
i think don't only focus investing only in bitcoin will be better
True. I am currently creating my emergency fund due to my job insecurity. Its best to have peace of mind than to hope for proper timing on a gamble like this.
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