I want to lock $1 million. - page 2.

KEPLER99

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

Man like seriously?? Even if you sick or die!?lol. Lol… don’t y have a family or what!? Anyway, you can look for all these savings apps that allows you save money for as long as you want with interest that adds in annually. You deposit money to the app and set for how long you want to lock it and it stays for that long and you can never withdraw it till that time you have set reaches. In my country there is an app called Cowrywise and that’s what I have been making use of in saving money that I don’t want to touch.

creeps

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Quote from: Bitcoinjheta on July 09, 2019, 10:20:50 AM

I think there are mutual funds institutions thats offers long term investments which you can only be withdrawn at a certain time after years of investing. However, these would vary in different countries but here in our country I have known few institution with these kind of investment offers.

Good way to preserve your money and keeps it growing through this investments. If the OP can’t handle himself not to spend that money then the legal team can help you for sure. That’s a lot of money, if you ask for someone to help you for sure you can get the right guidelines, financial adviser is easy to find nowadays.

harizen

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OP, why make things complicated?

You can save it anywhere. It will just be withdrawn once you withdraw it. You are the key. Therefore, control yourself not to withdraw it.

And you want to lock the money by looking on an investment plan? What are you really trying to achieve here? So basically, it's not a pure saving but you want to invest your money on e.g mutual funds, stocks, etc. or something like that?

Tungsten-1

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Quote from: Reid on July 08, 2019, 09:00:00 AM

You want something like a time deposit but never with a bank. Now that is a problem.
Give it to your wife. Grin

That is a difficult case that you want. Even if you need sick or die?
So who will take it afterwards? It will be lost forever with crypto.
I think this guy is just messing with us. There is no such thing as you do want control from it even when bad things happen.

Be serious please.

By lock up, if I assume you mean to invest in some crypto, I think this is great provided you lock this money in the best coins out there. Bitcoin might be no doubt the best option for you right now. Bitcoin is trading around $11,894 right now and I think there are more reasons for Bitcoin to fly to the moon. There are great future prospects of huge crazy profits if you lock up this money in crypto right now.

Bitcoinjheta

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I think there are mutual funds institutions thats offers long term investments which you can only be withdrawn at a certain time after years of investing. However, these would vary in different countries but here in our country I have known few institution with these kind of investment offers.

Arkham Knight

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Quote from: ?? on ??

you can buy a house, because the property business is promising and will not disappear Because the house is difficult to steal.

I also thought of this. First is that OP will have a hard time to sell the property and he will just get tired unless he has the marketing skills to that. Buy many properties and the value will just start to rise. But we never know in the future, companies might start to offer token lock-up because of the fact that great projects are good to hold for many years.

MonsterV

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Quote from: cosmofly on July 07, 2019, 12:37:24 AM

If you are planning to hold the coin, you should buy a Trezor or Ledger hard wallet. These are the purses that make your property the best security and no hackers can invade.
talking about long-term hold, for 5 years, ETH is definitely one of the best to hold long. When technology is truly thriving, big investors entering the crypto market will pay more attention to ETH. They have a great technology but it is not time for it to explode.
So, 5 more years will be a great time to come back and sell them.

By storing the coins in Trezor or Ledger, he can still withdraw and send them at any time. The OP intends to keep all coins and will not access them for the next 5 years, even though the OP is in need of money or death. After 5 years the OP opened its wallet again.

I think your idea of saving on Trezor or Ledger is a good idea, but you need to add something like a safe and forget about it. This is an effort so that FOMO or FUD are not carried away, which can frustrate the plan to hold coins in 5 years.

goinmerry

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

Put your $1 million into vault, chest or stash then buried it somewhere. Thrown up keys and ignored any codes.

If that's on crypto, put that hardware wallet in the mentioned things above. Save your private key alongside with it.

You don't want to trust anyone then go trust the environment instead.

samcrypto

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

Locking up means you plan to hold that without spending it right? Maybe you should deal with the banks well because that’s the only institution that can help you legally and you can be sure that your money is safe. I’m happy to know that you’ve made a lot of profit in cryptomarket, it can inspire many people especially if you can provide some proof about it.

fullhdpixel

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

It would not be bad ideas if you lock some of it inside my bank account LOL, just kidding. If I say you should lock it in a cryptocurrency, it would be a wrong advice, because no matter how much I believe in cryptocurrency, anything could still change within that time frame of 5 years, and it would be disastrous losing such amount of money.

I can only advise that you invest the money in a real estate, since it will always appreciate, the property would have appreciated when you are ready to make use of the money, or alternatively, you can lock it in gold, gold has been in existence for years and it is still very much used, so that will be another way to lock it. Honestly mate, the best for now would still be real estate for a 5 years savings, I am sure by that 5 years, you would have also had an increase of 10.

gwdf1

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Quote from: Wingzcrypto2018 on July 07, 2019, 07:21:46 PM

Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,
I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?
Bank cd wouldn't work for me because you can still withdraw that money with penalty.

You know what having that 2$ millions here in my country is really a huge amount, and I can call you one of the millionaire here, I wish I could have that amount and invest it into traditional business, it is equivalent here in my country as 102 millions. Now going back to your question, I am not sure if you want to buy another coins with that amount then you will hold em for a long term investment for 5 years. But if that so, I suggest you to buy Bitcoin, Ethereum and Ada then hold em for 5 years or you can keep it or store it your trezor wallet, in this way your assets would be safe for sure.

A crypto millionaire who hesitates what to do can hire (for money) a professional. Naturally, I doubt too much that this is true: people who have such great sums of money do not share this information with others, guys they do not know.

MidnightWolf

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even if we take into account the state of users of cryptocurrency, no one yet wanted something like that. If you already have such a problem to save such a sum of money with the help of banks, then fold them into a case and put under the bed.

ufaiz50

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

Why not put it in Bitcoin, with what you have produced to date and your experience and also knowledge, in my opinion you better understand the cryptocurrency market. My advice is bitcoin or USDT, I think the two coins will last very long compared to others, another one might be a coin Libra is a good investment, for own information why is Libra? It's only because of the who maked, I don't have information other than that for Libra coins such as supply and price.

el kaka22

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I guess I would say if you want to keep it in bitcoin and if you can't hold yourself responsible, then just get a usb, put 1 million dollars worth of bitcoin in there (you can even get ledger nano s, they are cheap and exactly for storing crypto) and then rent a safe from a bank and then put it in there lock it go home and give it to someone you trust.

In both cases if they try to betray you they can't open your safe because first of all bank will ask ID but even if they do then you have a ledger nano s which can be only opened with the right password which is quite long and only you know it and they just have a pretty empty thing so they can't steal it from you.

Moreover, if you change your mind then the person you trust won't give you the key back unless you provide an actual emergency, which they would probably know about as well, they won't give it back to you for trading, only sickness type stuff or paying an unexpected debt.

Reid

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You want something like a time deposit but never with a bank. Now that is a problem.
Give it to your wife. Grin

That is a difficult case that you want. Even if you need sick or die?
So who will take it afterwards? It will be lost forever with crypto.
I think this guy is just messing with us. There is no such thing as you do want control from it even when bad things happen.

Be serious please.

Oyarebu

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

What I would suggest for you might look crazy but is the better option you might loo up to as all attempt has failed you which you have tried. Buy hardware wallet and starsh your coins into it, then send it to a relation that has no idea about Bitcoin as a gift. After years of keep then you can visit again if you need the gift from the keeper. You must be mature enough for this tactics because I have used it long time ago and have the result needed.

The Sceptical Chymist

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You want to lock up your money? If you want to be really safe but not earn much, you could always put it in a traditional bank CD.

But Jesus, that's a lot of money you made, if you're telling the truth. You never know around here what the real deal is. Also, if you've got that profit in crypto right now, it might be a good idea to take some of it off the table, if you know what I mean. Convert to cash and put it in a safer investment (which is the question you're asking, if I'm not mistaken). The stock market right now is probably too risky, but you might do well in an index fund or something--at least in the long term.

Quote from: ?? on ??

you can buy a house, because the property business is promising and will not disappear Because the house is difficult to steal.

Actually that's a pretty good idea. If OP really made what he said he did, buying some real estate could lock up his profit pretty well. In fact if I'd made millions in crypto trading, I'd probably buy a big plot of land and build a nice tiny house in the middle of it.

Sithara007

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Quote from: Xingwat on July 06, 2019, 05:31:55 PM

Hello,

I have made $2 million with trading cryptocurrencies and I'm afraid of losing it all so I want to lock half of my money somewhere. Even if I get sick or die, I should NOT be able to withdraw that money. Is there an investment plan like this? Lock for 5 years etc?

Bank cd wouldn't work for me because you can still withdraw that money with penalty.

Nice effort in trolling... lol.

In case you want to lock $1 million, then I suggest you invest that amount in the Canada Immigrant Investor Program. Your money will be locked up for 5 years (no premature withdrawal is allowed) and after that duration, the capital amount will be returned to you without any interest. The best part is that you will qualify for Canada PR, and after three years you can apply for the Canadian citizenship.

adaseb

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Didn't realize that he wanted to lock in fiat money. In my opinion what he wants to do makes no sense. Keeping BTC locked for 5 years holds a purpose because most likely the value would increase by then. However locking fiat does pretty much nothing. Very confused why he wants to lock his fiat holdings. He should just withdraw everything and reinvest in stocks or real estate.

One thing he can do is buy tether and withdraw using the OMNI network which uses BTC blockchain, and create a transaction using armory using the time lock function. It should work however I wouldn't recommend it since tether is a centralized company and who knows if it will exist in 5 years.

Another idea is to put half of his BTC in cold storage and send the rest to a broker like Bitmex and just do a 2x short. Which would be like a hedge.

smartut

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make a new bank account in any bank that you trust. deposite the money. get a laywer and give him trustee over the account, than ask for bank account hold order for 5 years. Grin

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