Everyone knows that long term investments are actual way to make money.
Short term investments dont bring much because commodities take time to grow to greater size.
Bitcoin has historically grown a lot over a long time. In next 10 years, it is expected to grow by at least 40%. Thats what some economists say.
So I think investing some money in bitcoin and other reliable crypto is good.
Its important to look at history of growth of currency. If currency grew significantly in past 15 years, it is likely that it will keep growing.
There are sites and apps which basically give away free bitcoin for visiting them, but in very small amount. There are some apps where you invest money to gain bitcoin over time. Its also possible to buy bitcoin directly.
So when there are free ways to gain bitcoin, its actually worthy to invest few dollars to gain more, because the only way you can lose money is if bitcoin somehow fails as a currency, which I dont think is possible.
However, be aware of scams. Some apps and sites are scams who will never pay you even if you invest money in them.
Basically, check reviews for sites and apps. Usually, if app or site is a scam, it will have bunch of negative comments from people it scammed.
Another strategy to fight scams is to invest only a little bit of money in multiple apps which seem reliable and check if they will pay later. This way, you learn which sites are better than others and you get some money in return as well.
Another important thing is, never invest too much money in just one thing.
Dont invest too much in bitcoin.
The smart way to invest is to invest in many options which have long history of success.
This way, even if one option fails to earn enough money, others will succeed.
Bitcoin isnt the only cryptocurrency. Its just one of the strongest there is.
Of course, the important thing to say again is, if you do buy bitcoin, remember that waiting time is about 10 years to sell it for dollars, for greater profit to happen.
There are things in economy which must grow over time due to nature of economy where some things must grow and some must fall.
US dollar has been falling compared to gold, bitcoin, silver...ect.
So investing in multiple things which have grown historically is a very safe way to earn money. It is much safer than simply saving dollars, since due to inflation, dollar loses value over time compared to commodities, so each year you can buy less with your dollar.
The basic law of trade is to invest in things which grow in value, and since US dollar doesnt grow in value, saving dollars means you lose dollars over time.
Imagine if someone saved 100 dollars for 40 years. In past 40 years, dollar has reduced in value for over 40 times.
This means that if someone saved 100 dollars for 40 years, his wealth would be reduced 40 times.
But if someone invested 100 dollars in gold 40 years ago, he would now have much more than 100$.
Inflation so far means some commodities rise in value compared to US dollar over time.
So investing in some commodities means you gain more dollars over time, but saving dollars means you lose amount of commodities you can buy with them over time. So saving dollars means you essentially lose wealth over time.
Some commodities are better than others. Some commodities also lose value over time. For example, a smartphone loses value over time, so used smartphones cost less.
So it would be usually pointless, for example, to buy smartphones and sell them 10 years later.
But it wouldnt be pointless to buy used smartphone at a cheaper price to save money compared to buying new smartphone.
This is how trade economy works. You have things which you need for yourself and things which you need to invest in.
In case of things which you need for yourself, you buy them at cheapest price you can find.
In case of things you want to invest in, you buy multiple different things from multiple reliable sources at a cheap price, after checking their growth history to make sure they do grow over time.
This simple economical theory only has 2 types of things: things you will sell and things you wont sell.
Things you wont sell - you want them at cheapest price.
Things you will sell - you want things which grow in value over time.
And of course again, long term is prefered over short term.
Having some amount of gold for 30 years pays off more in terms of money than having same amount of gold for just 5 years.
And there is also economy of scale. By increasing amount of different things you buy from different sources, you increase amount of knowledge about prices at different places, which results in you being able to buy cheaper, thus reducing cost per unit.
Economy of scale usually in simplest terms means that increasing output reduces price per unit, and this is true in trade because increasing output, increasing number of sources and variety of safe investments results in you learning the lowest prices and best sources, so you both buy at lower price and later sell at higher price.
