I am new, but I have finally decided to get involved. During Covid I was strongly offered to buy a bitcoin but I didn't have $20k to lose neither did I have any trust in it back then. I'm thinking to give it a try and buy 1btc for a start. Any advice you could give to a newbie? Is it even a good time to buy it?
Is it a good time to buy BTC?
byu/Kitchen_Play_8123 inCryptoCurrency
Posted by Kitchen_Play_8123
4 Comments
buy an ETF from a broker (IE: Fidelity, etc). hold it. you dont have to worry about storing it or whatever. that’s my advise. oh and only buy what you’re afford to lose. go into it thinking that money is gone. absolutely GONE. this is very important. also, this is not going to make you rich. it’s just going to hold its value better than most assets. oh and hold it minimum 4 to 5 years, because it goes up and down drastically but on average, after 4 or 5 years, it’s going to be higher than what you purchased it.
My advice is that at this point, you have a 50/50 chance.
No one knows 🤷♂️
You don’t have to buy a full bitcoin. You can put as much money as you want.
Is it a good time to buy it? Nobody knows. Is it a good idea for you to buy? Probably not, you shouldn’t your money in stocks instead if you don’t already do that.