How safe it is to invest in cryptocurrency - page 10.

Webetcoins

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Quote from: darkangel11 on March 30, 2022, 03:08:12 PM

Don't put cryptocurrencies and bitcoin in the same basket when it comes to safety of investment. Putting money in bitcoin is very safe as long as you can accept short term volatility. If your goal is 3+ years in that time span you can be sure that either the stable average price will be higher or at least the volatility will give you some options to sell at a profit. IMO it's going to be the first option but if you become impatient there's going to be a higher price for you to capitalize on.

Altcoins are a 50/50 bet. I've seen enough of them die not to expect much. A dollar put in bitcoin is always a safer choice than that dollar invested in a pump and dump scheme like dogecoin.

Depends on the altcoin we are talking about. If this is eth or bnb we are talking about, or even ltc, then we are talking about a bit more stability compared to some of the other ones as well. LTC is not even in top 20 anymore, mainly because there are way too many stablecoins for some reason, but it is still a very solid and stable coin compared to all the other new projects.

So, what you are saying is true, bitcoin is more stable and less risky than 99% of the market but that also means that we are talking about a few coins that could be similar to bitcoin when it comes to less risk and I believe that we should consider them the same way.

lombok

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Quote from: Questat on March 30, 2022, 06:14:11 PM

Quote from: lombok on March 30, 2022, 05:20:27 PM

So far, Bitcoin has received the title of the best investment, which is able to provide returns of tens of thousands of percent in a matter of years. Whether or not it is safe to invest in Bitcoin depends on how we store our bitcoins.

-snip-
AFAIK, it said was one of the growing investments but it is also one of the riskiest investments. Well, we know the risk in investing but crypto is quite different and we consider the scam issue that changes and ruin its reputation.

If all cryptocurrencies, it is clear that investing in them carries great risks. Even many investment experts avoid cryptocurrencies, plus the many scam projects and useless tokens make cryptocurrency a ponzi paradise (although there are some good cryptos and have real use cases).

Sebas.tian

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Quote

Always do a lot of analysis before investing, when we get to know bitcoin and cryptocurrencies the first thing we do is use spare money to invest, don't use main money because the market is unpredictable, I hear a lot of people stress and commit suicide because of debt and lose assets because of investing in bitcoin in 2017 and when 2018 the market dropped and this became an important lesson for us.

I agree with you, by always carry out personal research or analysis before investing to a particular coin to enable you to understand the market conditions at the moment. Bitcoin price is unpredictable, that is why is advisable to investors not to use huge amount of capital or loan to invest on bitcoin because the price can change at anytime either to favour the long-term investors or not to favour at the period. I believe many people has learned from other people mistakes not to use main money on bitcoin investment than to use little to invest to see what future will bring.

lixer

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Quote from: suryana on March 29, 2022, 08:33:07 PM

Of course, every investment has its own risks, such as investing in the world of cryptocurrency, of course, there will also be loopholes to break into or we lose assets in bitcoin if we are not careful in carrying out intensive supervision at all times, for example, bitcoin security against cross-sectional assets is also closely monitored. by the bitcoin itself but if there is a scam then we also can't do much about the assets we have, but this is very rare in the world of Cryptocurrency

And the risk can vary, they can be low, medium, and high. Investing in cryptocurrencies can be rated as a high-risk investment, it is because they are highly volatile but on top of that, the rewards that you can expect are also higher than other investments.

There is no problem with bitcoin itself but the problem is in the exchanges, wallets and other platforms because they can sometimes be exploited however scams can be easily avoidable if you have already have an experience on this field. They are not deadly as the hacks but both hacking and scamming are not a rare thing in the crypto world but they actually happen all the time.

wiss19

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It is safe to say that cryptocurrency could be the riskiest investment of anyone’s life if they do not know what they are doing. Doesn't mean that it should be that way forever, but it could be very risky if you are not well versed in how that works. I know so many people who got scammed, who sent money to wrong places, who lost in wrong trading information, who lost it in leverage in a second because of not understanding how the system works.

All in all, there are plenty of ways that you could lose your money in crypto and unlike fiat world, there is no reversal here so you can't just press charges, that money will be forever gone. So, you need to be veeeeery careful when you are first starting.

riso2015

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Actually, market volatility can't be predicted, in my opinion, investing in crypto will have ups and downs, but crypto currency is still safe to invest in, it can't be denied because currently crypto is the investment most interested in by millennials in all countries, although sometimes the price drops like rain, but that doesn't mean that investment is not safe, but that's how the system invests, sometimes it's up, sometimes it's down.

leea-1334

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Quote from: Western_Boris on March 30, 2022, 12:49:16 PM

Quote from: leea-1334 on March 30, 2022, 06:31:11 AM

I think Ethereum is also among the alts the one with the most decentralization,,, and this comes from me a person who used to think it was not. To be fair, no coin can be decentralized from the beginning, and no coin can claim 100% decentralization but Bitcoin is the only one and with Ethereum catching up,,, that can be said to be in control of no single person.

Ethereum is not very decentralized. PoS will make it even less decentralized because then the richer you are, the more power over the network you have. In Bitcoin no one has more power over anyone else, no matter how rich you are. And most important thing is that Ethereum has Vitalik and co. running everything, no matter how decentralized it would be otherways. They can make decisions to affect the whole network. So it is a big red flag regarding decentralization.

One more thing is premine. Bitcoin had zero coins premined. Ethereum just gave millions at the start to their founders and their friends. Again, huge red flag.

I know all about the premine and all about the DAO,,, which is why I felt for many years Ethereum was actually just a total scam. I changed my mind and yes I agree PoS is worse for it and all that,,, but Ethereum to me is going in a direction of development that is less and less centralized.

Hence why they are always slow and delayed in updates. If they were centralized as before decisions would happen immediately.

My thoughts anyway

Quote from: Rikafip on March 30, 2022, 11:28:14 AM

That is also questionable. Remember the DAO hack from 2016 when Vitalik & co decided to rollback the network in order to negate $50 million worth of exploit? By the way I am not saying that ETH is shitcoin, but in all things that really matter it can't compare to Bitcoin, especially if you look at it from the long term hold point of view.

The DAO event and all that was the main reason I was absolutely against Ethereum for so long, I have to go back to my history to see exactly which years or which time I became less against them.

I totally agree ETH cannot compare to Bitcoin, it is number 2 and far away from number 1. And honestly, number 3 is also very far away,,, I have no number 3 in mind.

sumant

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Every investment we make to take good profits from that venture. Crypto is one of big investment projects. If we look at history of cryptocurreny so many coins go to many times high so reason behind is people investment. We also will serach and analysis about this cryptocurreny and then go for investment. It will more be safer if all nation can make some regulations about that but now at this point it is safe but in prices ups down it is very risky

19Nov16

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Always do a lot of analysis before investing, when we get to know bitcoin and cryptocurrencies the first thing we do is use spare money to invest, don't use main money because the market is unpredictable, I hear a lot of people stress and commit suicide because of debt and lose assets because of investing in bitcoin in 2017 and when 2018 the market dropped and this became an important lesson for us.

lienfaye

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Every investment has risk and there's no such thing as safe because there's no guarantee that you'll gain if you invest. However if you invest in Bitcoin, the chances to gain from it is high as long as you're not impatient and can bear seeing the market turning up and down.

Thats why before investing, we should fill our mind with knowledge of what we're getting into to prepare ourselves incase something went wrong. Even many investors are believing Bitcoin can make them rich, it is still a must to only invest what you can afford to lose and much better to have less expectation.

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Quote from: Darker45 on March 29, 2022, 08:47:31 PM

In times of war, Bitcoin is a much better option for you to keep your wealth intact. Not only will you be controlling your funds even in the middle of destruction, you will also be making sure that your wealth's value is not affected by the economic repercussions of the war. However, given that shops and stores are still not accepting Bitcoin, it is always best to have a good amount of cash in your possession, an amount which you could easily carry across international borders should the necessity arise.

I agree with you in battle, bitcoin and crypto are better choice than fiat money because we can control our entire assets. Storing them is also quite simple and convenient with no frills like fiat and gold.

But speaking of unaffected property values, I don't think so. Bitcoin and cryptocurrencies are considered highly volatile assets, so it cannot guarantee the value of the asset intact if we are in a bear market.

Slow death

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You wrote a lot and I confess I didn't understand anything, what exactly do you want?

1 - every investment has its risks and bitcoin is no exception

2 - bitcoin is a high risk investment and obviously people before investing need to do research to avoid comparing at one point and then the price drops and they regret and sell and then the price recovers again, these are questions that you should study hard before investing

verita1

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Investing in bitcoin is a risk due to volatility. But the risk of loss occurs when you decide to sell for a lower price than you bought. As long as you don't sell you can save your investment and make a profit.
On the other hand, sometimes we stop to see the risks of investing in bitcoin without taking into account the times we have won.
Bitcoin is invaluable, it is the pioneer digital asset to cross borders to reach the hands of many and provide them with solutions that governments and banks did not dare. When you send bitcoin to pay bills outside your borders, you contribute to the economy of any country.
My best experience in bitcoin was at the beginning of the pandemic when its price fell due to uncertainty and it exceeded all that time and the same is happening now. Bitcoin is a safe investment and with the risks that we are willing to bear.

Franctoshi

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There is no asset in the whole world that is 100% safe , there are various ways to classify the safetines of a digital asset

1.In terms of security ( when you talk about hackings)
2.Volatility or fluctuations ( instability in the price of that asset)
3 safe in terms of regulation. ( In terms of Government ban)
If a digital asset has these 3 above mentioned aspect I think I will say that asset is safe investment but bringing it to crypto all this point is yet to be guaranteed so it's somewhat safe and not totally safe.

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Quote from: lombok on March 30, 2022, 05:20:27 PM

Bitcoin and cryptocurrencies have entered the category of safe haven assets such as gold because of their scarcity, or entered into commodities, some even call cryptocurrencies as utility tokens.

Although crypto can't skip the definition of not being safe due to the volatility. And the risk is higher than gold and other commodities and that's why crypto can't be categorized for being safe in risk.
But if it's about safety that your money is at good hands, the definition and understanding changes there so the technical definition is set aside and people are saying that they've safely invested to bitcoin because it's the best crypto asset.

arwin100

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Quote from: Vaculin on March 30, 2022, 05:27:19 PM

Quote from: Darker45 on March 29, 2022, 08:47:31 PM

In times of war, Bitcoin is a much better option for you to keep your wealth intact. Not only will you be controlling your funds even in the middle of destruction, you will also be making sure that your wealth's value is not affected by the economic repercussions of the war. However, given that shops and stores are still not accepting Bitcoin, it is always best to have a good amount of cash in your possession, an amount which you could easily carry across international borders should the necessity arise.

Fiat is now starting to lose its power and value in times of war but having bitcoin is a good option to store your wealth without losing its value despite of the destructions caused by the war. The current war has served an eye opener for us that storing most of your wealth in fiat is never a safe and secured option. But with bitcoin, it will always be safe. However, as most of the countries are still favoring fiat as their only currency, then we should always have good amount of cash in our own pocket.

Inflation getting much higher when price of oil rise, it triggers the inflation rate to soar up this is why we see the fiat buying power lessen. But it doesn't mean that we need to have bitcoin since as far as we know bitcoin is so volatile and its really bad for newbies to have this without proper knowledge since they will end up losing a value and get affected by major manipulation that happen sometimes in crypto. But if we think about investment and put it on hold for much longer time then we can say that its really worth since the value of it rise over years if there's a good news or adoption happen.

AmoreJaz

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Quote from: Questat on March 30, 2022, 06:14:11 PM

Quote from: lombok on March 30, 2022, 05:20:27 PM

So far, Bitcoin has received the title of the best investment, which is able to provide returns of tens of thousands of percent in a matter of years. Whether or not it is safe to invest in Bitcoin depends on how we store our bitcoins.

AFAIK, it said was one of the growing investments but it is also one of the riskiest investments. Well, we know the risk in investing but crypto is quite different and we consider the scam issue that changes and ruin its reputation.
if we only just talking about Bitcoin, therefore, it was obviously the best but since OP is mentioning cryptocurrency, in general, which is literally a risky investment.

https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/is-cryptocurrency-good-investment/

one should know the risks involved even if we are talking BTC here. the volatility factor is still one of the factors to consider if you are storing it long-term. however, as compared to other alts, BTC has very good foundation that we all know won't disappear without a warning. whereas most alts have no reason to exist, hence, a lot of of them are disappearing into thin air.
we can't assure the safety of crypto investments, but we can lessen our potential losses if we will keep ourself updated with its market.

Questat

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Quote from: lombok on March 30, 2022, 05:20:27 PM

So far, Bitcoin has received the title of the best investment, which is able to provide returns of tens of thousands of percent in a matter of years. Whether or not it is safe to invest in Bitcoin depends on how we store our bitcoins.

AFAIK, it said was one of the growing investments but it is also one of the riskiest investments. Well, we know the risk in investing but crypto is quite different and we consider the scam issue that changes and ruin its reputation.
if we only just talking about Bitcoin, therefore, it was obviously the best but since OP is mentioning cryptocurrency, in general, which is literally a risky investment.

https://www.fool.com/investing/stock-market/market-sectors/financials/cryptocurrency-stocks/is-cryptocurrency-good-investment/

Vaculin

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Quote from: Darker45 on March 29, 2022, 08:47:31 PM

In times of war, Bitcoin is a much better option for you to keep your wealth intact. Not only will you be controlling your funds even in the middle of destruction, you will also be making sure that your wealth's value is not affected by the economic repercussions of the war. However, given that shops and stores are still not accepting Bitcoin, it is always best to have a good amount of cash in your possession, an amount which you could easily carry across international borders should the necessity arise.

Fiat is now starting to lose its power and value in times of war but having bitcoin is a good option to store your wealth without losing its value despite of the destructions caused by the war. The current war has served an eye opener for us that storing most of your wealth in fiat is never a safe and secured option. But with bitcoin, it will always be safe. However, as most of the countries are still favoring fiat as their only currency, then we should always have good amount of cash in our own pocket.

lombok

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Bitcoin and cryptocurrencies have entered the category of safe haven assets such as gold because of their scarcity, or entered into commodities, some even call cryptocurrencies as utility tokens.

How safe this cryptocurrency investment is depends on the crypto project itself. Is the project viable, able to be useful as technology develops or not, able to become an alternative or can they become mainstream. And most importantly how do we store it safely.

So far, Bitcoin has received the title of the best investment, which is able to provide returns of tens of thousands of percent in a matter of years. Whether or not it is safe to invest in Bitcoin depends on how we store our bitcoins.

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