You are Here > Home > YouTube Channel > Video: Investing in bitcoin

Video: Investing in bitcoin

Apr 6, 2021

Whenever we see a surge in the price of bitcoin, I get a lot of queries from people asking how they can invest.

The problem is that people are lured by the prospect of high returns rather than actually understanding what they are investing in.

A sure way of telling that you are about to make an investment mistake is when you are being spurred on by a strong fear of missing out.

This according to Imran Lorgat, who is an actuary and has invested in bitcoin over the last five years. I invited him to give us some advice about whether or not to invest in bitcoin and if so, how.

Watch the video to get answers to the following questions:

  • What are people buying when they buy bitcoin?
  • One of the challenges of bitcoin is the immense volatility – the price moves hugely and people can make really big losses. Does this not make it a very high-risk investment?
  • Another concern is around the number of scams out there. So many people have been defrauded by ponzi schemes claiming to invest in bitcoin or cryptocurrencies generally. What is the safest way to invest in bitcoin?
  • If you wanted to start investing in bitcoin, what would be the best approach? How should someone start?

Remember, the same rules apply to bitcoin as to any other investment. This is a high-risk, long-term investment. Ask yourself whether you can afford to lose that money and whether you can hold onto your investment in bitcoin for the long term.

2 Comments

  1. What is the real Bitcoin software? And where and how to download it?

    Reply
  2. I agree that BTC is high risk but the price is always going up so if you hang into your BTC then you are not going to loose. I started in 2016 when the price was $463/BTC and over the years I have been adding to this amount as you don’t need to buy a full Bitcoin you can buy bits of Bitcoin. The price is expected to rise to about $100k by year end of 2021. If you want to buy an ETF, then easy equities has a cryptocurrency EC10 but I feel having my own btc Is far more beneficial than only having an etf and you don’t get dividends from this ETF.

    Reply

Submit a Comment

Your email address will not be published. Required fields are marked *

Maya Fisher-French author of Money Questions Answered

Previous Articles

What will the rand do in 2022?

Ryan Booysen, MD at DG Capital Forex, stares into his crystal ball to predict where the rand will go in 2022. The rand ended 2021 on the back foot, after the Omicron announcement and subsequent global kneejerk reaction of isolation and red-listing the country. And...

Reflecting on the year that was

Victoria Reuvers, Managing Director at Morningstar Investment Management South Africa, looks at how financial markets performed in 2021. As a runner, the change in seasons gives me time to reflect. Autumn is my favourite season, and always reminds me that change is...

How ‘bad timing’ affects retirees’ income

Retirees need to work with their financial advisers to carefully determine the structure, size, and affordability of their future pension withdrawals, particularly in a volatile market environment, says Jean-Pierre Matthews, product head at Matrix Fund Managers. When...

Video: Get financially fit for your next holiday

After living in lockdown for over 18 months, many of us just want to go on holiday. Like any major expense, if you plan for it, it doesn’t have to break the bank. Many tourist destinations and establishments are offering great specials, making it more affordable for...

Video: Plan for retirement

Retirement is something we can plan for ‒ and the better our planning, the more we get to enjoy our retirement years. In this video, I am joined by Guy Chennells, Head of Product at Discovery Employee Benefits, who will give us some tips around what you need to be...

Video: Five things that derail your wealth

The difference between someone who is financially secure and someone who is not, often has more to do with avoiding wealth destruction traps than earning a bigger salary or having a windfall. If you want to be financially free, you need to avoid these...

Video: Become a farmer without a farm

As a smart person once said, diversification is the only free lunch. And if the current coronavirus crisis has taught us anything, it is to make sure our investments are diversified. The idea behind diversification is that it spreads our risk. When it comes to...

Bitcoin: navigating tax and exchange control

Regulation of bitcoin and other crypto assets is inevitable, but it makes investing in this new asset class safer. A few years ago, I was sitting on a panel discussion when the topic of bitcoin was raised. The appeal of bitcoin for many people was that it was...

Video: Five ways to trick yourself into saving

Behavioural scientists have found that we feel loss far more greatly than gain, which is why the idea of cutting back on our lifestyle makes us very unhappy. We feel the sacrifice immediately but only reap the benefits in the future. While it may be a tough ask to...

The top African tech unicorns worth watching

The experts at CMTrading take a look at some of the African tech unicorns that have reached the $1 billion mark, and what has made them worthy of the title. For those unfamiliar with online trading or venture capital terminology, the term “unicorn” is used to describe...

Pin It on Pinterest

Share This