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/biz/ - Business & Finance

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18802089 No.18802089 [Reply] [Original]

I've never bought any kind of crypto before but I'm looking to make some spare cash while in lockdown.

Is it a good idea to put some money into bitcoin right now? I'm not expecting to get rich, just a quick cash in, cash out to keep myself afloat would be nice.

>> No.18802108

>>18802089
not at the top, just wait for a retracement

>> No.18802614

Buy low. Sell high. Forget everything else

>> No.18802709

>>18802089
crypto is not like stocks that have real tangible value, it's easy to look at a stock and safely invest in it because you can assume it will have real world value, for example it was a guarantee amazon would eventually get big because ebay used to be fucking huge and amazon in its infancy was basically ebay 2.0
the problem with /biz/ retards is they try to view crypto as something tangible and valuable but it's not
it is a CURRENCY and you can't just invest in a fucking currency and hope you get rich
you have to constantly flip it and basically work it as a full time job so you can inch your way up little by little through small gains

trading crypto is fundementally no different from trading normal real life currency, people who view it as a "hold till I get rich" scheme are retarded, literally nobody has every retired off of other cryptos, the only people who got rich were mass bitcoin holders solely due to a fluke

>> No.18802787
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18802787

>>18802709
Imagine being this utterly devoid of brain cells

>> No.18802871

Appreciate the advice.
Although as a heads up - please do explain this as if you were speaking to a child, or a particularly patient and well-trained chimp.
I've just opened an Electrum wallet, I just figured while I'm sat on my ass out of work I might as well do a little "safe" trading with the spare cash I do have floating around. I'm an entry level normie here.

>> No.18803022
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18803022

>>18802871
Here’s a bit of advice kid, buy Bitcoin. Then read about Bitcoin like a thirsty man drinks after finding water in the Sahara. Then go all-in. Good luck.