The “money” part of this is fun. Whenever anyone asks if they should invest in it, I ask them for a $20 bill. I tell them to rip it up, and throw it out the window. Now imagine how that feels. How much of that can you stand to do before it “hurts.”
That is how to start investing in Bitcoin. And only bitcoin. There are about 2,000 cryto-currencies out there. 90% of them are scams. The trick is to find the ones that are not. I haven’t been able to figure that out yet.
Several years ago my daughter gave me $100 of her birthday money. She thought the whole thing was cool. That $100 is worth $1,719 this morning. I don’t let her put any more into that account until her student loans are paid.
Yes...this is fun. It is not for the weak kneed. A little skin in the game is a good teacher.
I’ve got a similar return from Bitcoin from getting in earlier this year. Granted, I only put a very small amount in to satisfy my curiosity and see how it worked. But I’ve already spent and taken out in cash far more than I put in, and the amount I have sitting in there still is about 3 times what I put in. Not much money, but no ripping up 20’s here. I put 40 bucks in just for the heck of it when it was in the 700’s. Currently I have over a hundred that I’ve left sitting there, I took out 100 in cash one time a while back, and spent a bunch of bitcoin directly, mostly on Steam games.
But no, I don’t recommend putting money into it you can’t afford to lose. I do have a few coworkers who put in like 500 bucks and cleaned up pretty well. All have taken most of the balance out by now, leaving only their original investment sitting in bitcoin.