A person that doesn't have have a permanent income plan it would be very difficult for that person to invest in bitcoin because when they are broke they can sell their bitcoins iregardless to the price of the bitcoin at that time.
Why one should not invest on bitcoin when they doesn't have alternative sources of money?
- Thread starter Stardom22
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You should have to understand that any investment, be it bitcoin or real estate or other forms of investments all need one to have a stable source of income. Investments don't yield immediately.
All I can say, bitcoin value varies from time to time, so if one person doesn't have a stable income should not invest
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Incidents like this do not only happen to Bitcoin or crypto, but in the world of investment, be it stocks, mutual funds, bonds, etc., if an investor really needs money urgently, the investment instrument will be sold at the current market price.
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If you cannot hold your coins when the market is sluggish you will encounter a huge loss.
Bitcoin is a very volatile currency and is not advisable for people who are not financially stable. Before investing in bitcoin or similar coins, make sure you have something else you are doing.
Despite the lack of sources of money, a striking example why cryptocurrencies investments are inconvenient is the ban of cryptos by the government in this or that country. If owning cryptocurrencies becomes an illicit attitude or worse, a crime, it's very inconvenient to get severely fined or worse, convicted to prison.
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Not just Bitcoin but crypto currency in general, I won't advice anyone to rely on just that as a means of making money.
Bitcoin requires patience for the market to favour you. It is not a job that would give you regular income.
It's evidently that most investment ventures should not be taken as the immediate sources of income for that matter. Investment that seems very profitable should be projected in long term basis.
Anyone that depends on any investment to survive would stay hungry and they would not get to make the most of that investment.
People should not invest in the cryptocurrency if they have no other guaranteed sources of income for sure.
