Anonymous
Any advice for a student who’s interested to start investing and with crypto in case I'm making a big mistake?
Hi. I’m a student who’s interested to start investing and with crypto. I would like to get some advice, like if I’m perhaps making a big mistake 🙂?
Given that I do not have much capital and being a student, crypto seems to be a viable option for me to look at to start. I’m looking to invest about $100 USD in Bitcoin cash, ethereum and Bitcoin (using Gemini as it seems to have the lowest fees) but am having a bit of a cold-feet as I am uncertain if I’m making the right choice (am honestly worried that I might go into debts while trying to earn some money 😂) Any advice?
Thanks in advance.
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Chris
05 Mar 2021
Owner and Writer at Tortoisemoney.com
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First of all, good on you for starting so early! Starting as a student, time is on your side.
Now, about your choice, I think what's key is that you understand how each of these investments 'work' and that this USD100 is not your entire life savings (meaning any large expenses that you're going to make in the near future is accounted for already). You should also be aware of the risks that they pose such as the high volatility that you might face when taking on such investments and that a long time horizon is most beneficial to reap the rewards of said investment.
Lastly, I just want to point out that, as long as you're not investing borrowed money and you're not putting your life savings in, you probably won't fall into debt by making this investment.
Cheers and have fun!