I think it is safe to say that most of us here are investing in Bitcoin or other cryptocurrencies in one way or the other; perhaps even heavily investing. But something that I think isn't discussed nearly enough is how to handle this type of "risky" investment while being married or in a relationship. Perhaps you will be lucky and your significant other will completely understand bitcoin, or already be investing in it themselves. But there is also a higher chance that the other person in your relationship will not be a fan of it, won't understand it, and definitely won't be happy about putting so much of your funds into it.
But Is heavily investing in Bitcoin while being married even possible? Let's talk about this more!
Of course if Bitcoin had already reached the moon with you having made amazing profits; this would probably be a non-issue, because at that point money would no longer be a worry in your lives. But the vast majority of people are in-fact investing in crypto as a way to get ahead in life, and perhaps make it big. In order to do this, sometimes people will invest far more than they can afford to lose, and if you have been around the bitcoin environment for a while you'll know that there are often some very large Red days. On those days your significant other may not be happy this type of investing, and may plead with you to sell off everything before the prices go to zero.
The most important thing in relationships is communication, and that is also the case with investing in crypto as well. If they don't understand bitcoin at all, you should be able to explain exactly why you believe in it so much, and hopefully they will have an open-mind about it. Especially if you devote a large amount of time studying, and researching.
In my own personal situation, my fiance was neither a fan of crypto, or didn't like it. She just didn't know anything about it, so I kindly explained it to her. But here is the key point; she has seen me for years constantly researching, studying and learning more about my crypto investments, and I have been very open to her about my portfolio growth. Both of those probably heavily contributing to her being more than okay with it, and actually wanting to invest some of her own money too. She even often excitedly messages me when the price either has a big dip or skyrockets up further.
But once again, communication is so important. Because we have heavily discussed our future goals, investing strategies and so on, we have been able to team up to balance out our portfolios. This has me focusing on the more risky investing, bitcoin and other cryptocurrencies, real estate and starting a business. While she balances out the risk portion of our investing with safer things like dividend stocks, IRA, Bonds and more.
Often when marriages or relationships go badly, one of the largest reasons why is money problems and that is why working as a focused team, balancing out each other as far as risk goes, and communication are so key. But I definitely do think it is possible to achieve achieve this. In fact, once you do, it feels like a weight is lifted off of your shoulders. It truly is nice having someone to share this exciting investing world with.
But I would love to hear how you handing heavily investing in bitcoin or other cryptocurrencies while having a significant other! Are there any challenges that you have encountered? And how have you dealt with it!?
As always, thank you for reading!