Today I will share with you some thoughts about bitcoin, as far as investing in it goes.
Many people ask me questions about investing in bitcoin. Should you invest in bitcoin? Do I personally invest in bitcoin? Is it too late to invest in bitcoin? Is bitcoin going to crash soon?
The reason I chose to invest in the stock market, back when I started, is because I knew that business would be around for the long term. I knew I had time, and if I learned how to do it, there was a lot of potential in it, and it was something that was regulated, which made it a safer business.
When you look at bitcoin or many of the other cryptocurrencies out there, they are not really regulated, and it’s not a business that I know and understand well enough, and that’s why I do not invest in cryptocurrencies.
Could I put a small portion of capital in it to see what happens? Yes, I could! but that would be speculation or gambling, not investing.
You need to remember that there are a lot of things that you can invest your money in. There are opportunities everywhere, and you can only capitalize in those opportunities when you have the experience.
There are two ways of making a lot of money. One is looking for a one-time thing that will make you rich. Some people want to do it like that and they are constantly looking for their big opportunity.
This is the lottery mindset, and that is the mindset that a lot of people have right now when it comes to bitcoin, they want to get in it because they want to get rich quick.
The other approach is people who build their skill sets and assets, they educate themselves, they learn to manage risk and reward and they build a strong foundation. And in my opinion, that is the best way of building wealth, instead of looking for a one-time thing that will make you rich. And That’s why I choose not to invest in bitcoin or any other cryptocurrency.
Posted: Posted at: http://tradersfly.com/2017/12/ep-165-investing-bitcoin/
★ REGISTER FOR A FREE LIVE CLASS ★
★ GETTING STARTED RESOURCE FOR TRADERS ★
* Please note: some of the items listed below could and may be affiliate links **
* Trading Software / Tools *
★ SHARE THIS VIDEO ★
★ SUBSCRIBE TO MY YOUTUBE: ★
★ ABOUT TRADERSFLY ★
TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing.
Stock trading can be a brutal industry especially if you are new. Watch my free educational training videos to avoid making large mistakes and to just continue to get better.
Stock trading and investing is a long journey – it doesn’t happen overnight. If you are interested to share some insight or contribute to the community we’d love to have you subscribe and join us!
FREE 15 DAY TRIAL TO THE CRITICAL CHARTS
GET THE NEWSLETTER
STOCK TRADING COURSES:
STOCK TRADING BOOKS:
MY YOUTUBE CHANNELS:
– TradersFly: http://bit.ly/tradersfly
– BackstageIncome: http://bit.ly/backstageincome