I have been invested on crypto for around 4 years now. When I have started I know the Bitcoin was around 1000$, though I have not invested too much at that time. Though I have invested a good amount of money considering the fact that crypto was relatively new in India at that time.
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After reading about it and spending time, I have asked my friends to invest some amount, at that time Bitcoin was around $1500. Almost all my friends said that the investment is "Too Risky".
Now tell me one thing which investment is not risky. You invest in Fixed Deposit that is risky, investment on the stock is risky as well as investment on the safest Mutual Fund is risky too. It all depends on how much risk you can take. That's why it always said that in Crypto you should invest only that much which you can afford to lose but that is not entirely true if you play your cards well.
Think about a scenario where someone has invested when the Bitcoin was at the peak and he sold everything when it was around 3000$ for them it was actually risky, but even if you have got it in the wrong time, you should sell it or buy low so that your average amount invested comes down and thus once the amount goes up than your average yow can be on profit.
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It's actually not trading full time, you should check price continuously. Similarly one of my friends who has started last year with 0.3 Bitcoin is doing weekend trading and now he has around 3.4 BTC that is around 100% increase. For him what worked is that he got into the coin at the right time and thus he is doing trading of the coins which is actually has increased in recent times.
But again he might have faced losses too, but again since it was the risky investment he can get that much profit and thus did not think about the losses much. Though the only thing we should know while doing investment is that nothing is too risky and nothing is safe its all about how much risk you can take matters.
Posted Using LeoFinance