Topic: I want to lock $1 million. (Read 704 times)

Quote from: Lanatsa on July 11, 2019, 06:40:41 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.

Cryptocurrencies art decentralized so you have the full control over your funds and that is the advantage of it so you need to build the potential to hold it until you want it may be five years are five months. I don't think any legit investments related to the the locking your funds and most of this kind are ponzi scams.
What is the better option for you is just convert those into ew Bitcoins then move those content to a new wallet which holds the only amount you want to hold and then just hold it or lock it for 5 years.

breathlessz

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Quote from: Dreamchaser21 on July 11, 2019, 06:37:41 PM

Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

also he enjoying his success. but told that he want to lock half of his crypto thats mean 1M$ and others 1M$ he want to spent.Maybe there is some reason.Maybe he is thinking if he locked That money after 5 year it can be 2x or 5x etc.

Most probably yes, he's doing that for a reason and he's too confident about the future price of cryptocurrency he's holding for. That's a lot of money and its too risky to hold that online, its better if the OP finds someone who can help him to secure that money for a long time. In my place, if you have that kind of money you can buy anything and of course you can make a lot of business.

Not that much specially on first world countries.You can do this on 3rd world ones on building out business which this one can give

you lots of opportunities to make with this amount converted on other currencies knowing $1M is already a big amount but talking about on where it should be locked in terms of crypto currency then I would definitely go with Bitcoin no doubt.

with that much money indeed by investing in bitcoin it can provide a more certain profit than other altcoins. we know bitcoin is the safest coin on cryptocurrency. but if I may add, ethereum is also good for long-term investment. I think both are coins that are worth investing

iamaruf

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Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

also he enjoying his success. but told that he want to lock half of his crypto thats mean 1M$ and others 1M$ he want to spent.Maybe there is some reason.Maybe he is thinking if he locked That money after 5 year it can be 2x or 5x etc.

Homorton

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Quote from: werokez on July 10, 2019, 03:31:21 PM

Quote from: Homorton on July 10, 2019, 03:28:21 PM

Quote from: werokez on July 10, 2019, 03:24:55 PM

https://www.curioinvest.com/game

The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Do you mean curio from blockbattle?

Oh, you also watched? Yes, I play now their game to win tokens

Wow, share a link please

Thx

werokez

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Quote from: Homorton on July 10, 2019, 03:28:21 PM

Quote from: werokez on July 10, 2019, 03:24:55 PM

Quote from: werokez on July 10, 2019, 03:24:55 PM

The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Do you mean curio from blockbattle?

Oh, you also watched? Yes, I play now their game to win tokens

Wow, share a link please

https://www.curioinvest.com/game

Homorton

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The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Do you mean curio from blockbattle?

Oh, you also watched? Yes, I play now their game to win tokens

Wow, share a link please

werokez

newbie

Activity: 140

Merit: 0

The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Do you mean curio from blockbattle?

Oh, you also watched? Yes, I play now their game to win tokens

Homorton

newbie

Activity: 126

Merit: 0

The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Do you mean curio from blockbattle?

werokez

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Activity: 140

Merit: 0

The best way is to invest in smth through blockchain investing projects

Like real estate?

Not only, even in collectible assets like luxurious cars

Homorton

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Activity: 126

Merit: 0

The best way is to invest in smth through blockchain investing projects

Like real estate?

werokez

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The best way is to invest in smth through blockchain investing projects

ice18

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That was huge amount of money you want to lock, I assume you are still holding your money in crypto right? My suggestion is invest your money in something like a property like real estate you can see some people selling real estate properties that accepts bitcoin or if you want to convert it into cash without third party involve like banks you can start an online business on your location selling bitcoin in exchange for cash.

AlaDyn172

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Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

also he enjoying his success. but told that he want to lock half of his crypto thats mean 1M$ and others 1M$ he want to spent.Maybe there is some reason.Maybe he is thinking if he locked That money after 5 year it can be 2x or 5x etc.

Which I think would be the right thing for him to do, because if he fails to manage the wealth very well, it would just fly away and would be wondering what he did with 2 million dollars, the best way to successfully manage it is just to lock it, but the aspect of locking, I would really advise him to just use it as investment instead.

Since he has another part that is 1 million dollars, he can still use part of it to reinvest in cryptocurrency, then maybe spend the rest on whatever makes him happy but he needs to still guide the remaining half jealously in case something happens along the line that made him not to manage the other half well, and moreover, he needs to save for the future, if he locks it in the bank, anything could happen to currency and render the money useless, so best bet. Investment all the way.

Goodvalony

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i sugguest you move some of your funds into staking projects to earn more money. Proof of stake is a means by which we earn more tokens without be affected by the bear or bull market. i think that will help you to grow your money instead of storing it somewhere without use.

olamidey

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Buy, sell and store real cryptocurrencies

Quote from: elda34b on July 06, 2019, 11:15:01 PM

The only viable option is the time-lock. You can't use fiat for this because you'll need to trust 3rd party to hold your funds, and it's quite possible that after 5 years it will be difficult to claim it back. With time-lock, you don't have to trust anyone except the code itself.

With fiat, you'll always get the urge to claim it back, while at the same time if you destroy the proof that you own that money will not be effective as it could prevent you from claiming it back. Bitcoin is the key here.

Great response. Still don't understand the need to lock up your funds. They're yours anyway. The time-lock works well though there will be crazy urge to access it. You can use crypto - BTC for this. A major thing to keep in mind is security if the wallet and it's access details. A paper wallet in this case may prove to be very useful. Just don't loose the details. If not, you'll join the list of those who have BTC but can't access it .

Krislaw

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Quote from: werokez on July 10, 2019, 03:31:21 PM

~

You are make pyramid to pyramid

Quote from: Homorton on July 10, 2019, 03:33:54 PM

Thx

yeah, for what?

Quote from: Dreamchaser21 on July 11, 2019, 06:37:41 PM

~

You don't give what cryptocurrency you has been got 2 million and want to lock it 1 million, The best thing to invest to Bitcoin only and lock it into cold wallet forever.

Lanatsa

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Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

also he enjoying his success. but told that he want to lock half of his crypto thats mean 1M$ and others 1M$ he want to spent.Maybe there is some reason.Maybe he is thinking if he locked That money after 5 year it can be 2x or 5x etc.

Most probably yes, he's doing that for a reason and he's too confident about the future price of cryptocurrency he's holding for. That's a lot of money and its too risky to hold that online, its better if the OP finds someone who can help him to secure that money for a long time. In my place, if you have that kind of money you can buy anything and of course you can make a lot of business.

Not that much specially on first world countries.You can do this on 3rd world ones on building out business which this one can give

you lots of opportunities to make with this amount converted on other currencies knowing $1M is already a big amount but talking about on where it should be locked in terms of crypto currency then I would definitely go with Bitcoin no doubt.

Dreamchaser21

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Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

also he enjoying his success. but told that he want to lock half of his crypto thats mean 1M$ and others 1M$ he want to spent.Maybe there is some reason.Maybe he is thinking if he locked That money after 5 year it can be 2x or 5x etc.

Most probably yes, he's doing that for a reason and he's too confident about the future price of cryptocurrency he's holding for. That's a lot of money and its too risky to hold that online, its better if the OP finds someone who can help him to secure that money for a long time. In my place, if you have that kind of money you can buy anything and of course you can make a lot of business.

Kasabus

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If you want to lock that money, don't put it in an investment as investment does not guarantee you profit.
The best way to ensure you still have that $1 million usd after the time period you stated is put it in a bank for time deposit, I know you have already mentioned that in the OP but I don't see any option that best suit in your situation. Try to make an arrangement with the bank for that long term deposit and just be more discipline not to touch it over an agreed period, I know you can as you are smart to be able to make that huge profit.

KEPLER99

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

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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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, 08:00:00 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 06, 2019, 11:37:24 PM

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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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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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: Wingzcrypto2018 on July 07, 2019, 06:21:46 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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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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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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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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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

Wingzcrypto2018

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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.

Mrengage

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Quote from: Furious 7 on July 06, 2019, 06:03:30 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 a penalty.

Am not sure such features exist if definitely, you can make out using the ones you gain from it I will recommend you use it on offline investment whereby even if you die someday your family can get hold of that investment in future.

wahyu wida

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I think it would be better if half of your profit is diverted to other investments with little risk. for me investment in real estate will be suitable for placing it. we know real estate from year to year is increasing, along with the number of people in need

Ucy

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Compare rates on different exchanges & swap.

You could do that on Bitcoin blockchain with a feature called "time lock" but I am not sure if you cant be able to use your locked bitcoin when you need to.
I believe there are some cryptocurrencies with the exact kind of feature you described... unfortunately it is more risky to lock your funds long-term on the cryptocurrencies as they can easily lose value or may not grow in price compared to Bitcoin

anume123

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Its better to keep your money for investment plan and get interest every months you hold your funds. It's a good choice to make a plan and make a business of your money.

Caladonian

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So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

I agree with that mate, buying assets that will turned to a much higher appraisal after some years of holding like lands or real estate properties, you can lock your money in such way if you are really aiming not to use it.

The only thing that maybe possible is when you got tired of waiting as you can sell it out to the value you desire.

EdvinZ

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1) You can transfer your Bitcoins to a cold storage hardware wallet and put it in the safe deposit box of the most reliable bank. In this case, it is better to diversify risks and place hardware wallets in several banks.
2) Seek help from trusted close people and give them a hardware wallet with Bitcoins.

samputin

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Quote from: Furious 7 on July 06, 2019, 06:03:30 PM

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

The best advice for me so far lol Grin

. Well I understand that each one of us got their own business and reasons why we come up into certain decisions so I think respect is the least I can offer.
Anyway, I agree on the most of comments made by thr other members, use hardware wallets. The other option I think of is cash out your earnings and store in a safety vault, temporarily forget about it and come back when you are ready to do so. That's it!

.

cosmofly

full member

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PrimeDAO - An Adoption Engine for Open Finance

Quote from: Furious 7 on July 06, 2019, 06:03:30 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.

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.

elda34b

sr. member

Activity: 910

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The only viable option is the time-lock. You can't use fiat for this because you'll need to trust 3rd party to hold your funds, and it's quite possible that after 5 years it will be difficult to claim it back. With time-lock, you don't have to trust anyone except the code itself.

With fiat, you'll always get the urge to claim it back, while at the same time if you destroy the proof that you own that money will not be effective as it could prevent you from claiming it back. Bitcoin is the key here.

alphaboon

newbie

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I would suggest buying gold and just lock in. The bank vault

janggernaut

legendary

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So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

I don't think you can give your opinion what should he does with his money, he is just simply want to LOCK his money from anything for some years later. He doesn't want to invest a million dollars of his money.

Lock for 5 years etc?

What will you do after it passed 5 years?

exstasie

legendary

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Merit: 1521

Quote from: adaseb on July 06, 2019, 06:08:14 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 need to set up an irrevocable trust. This is a trust with terms that can never be changed by the grantor (you). You can establish provisions like "beneficiary cannot withdraw any funds for 5 years" and the trustee will be legally obligated to lock the trust away so you can't access the funds. You could specify the funds be invested in conservative mutual funds, CDs, things like that. After 5 years, the trustee would grant you access.

You could even set up a series of irrevocable trusts. They could unlock one at a time every 5 years (or whatever period you want) so you could plan for the coming decades without worrying about squandering the money.

Just keep in mind, dollars aren't a great long term store of value. Tongue

Thirdspace

hero member

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I've never tried this before but its possible I've heard to time-lock some BTC coins when you are sending them.

I think he wants to lock in the form of his fiat money instead of bitcoin

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

afaik, any financial investment will always have a termination/cancelation/breach clause in a legal agreement paper
without such clauses, the agreement paper would be deemed incomplete in a legal perspective

Oilacris

hero member

Activity: 2996

Merit: 609

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.

Good thing that you do make millions with your trades.If you do lo like to lock up your money without using banks then crypto would be the best choice.

Store it on a paper or hardware wallet and forget about it which store on a place which theres no other would able to see it.

Slark

legendary

Activity: 1862

Merit: 1004

To keep this amount in crypto is quite difficult. All because it is volatile. I honestly do not understand why you need it. You can cash them and keep them in the Bank. Or just leave them in bitcoin, because it is the most secure crypto.

adaseb

legendary

Activity: 3808

Merit: 1723

I've never tried this before but its possible I've heard to time-lock some BTC coins when you are sending them.

With Electrum when you make a transaction there is an option which shows you the BTC block timelock and I've never tried changing it but its possible you can change it and if you want your coins available in 5 years just do the calculations.

10 blocks per minute so 144 a day so ~52,560 per year so in 5 years its 262,800. So you add that number to the current block count which is 584237 and you get 847,037.

Before you do this, maybe do a sample or 2 transaction like a week or an hour ahead of time and see if it works for you first. Because it would suck waiting 5 years and only to discover that you made a mistake and can't recover those coins.

Furious 7

hero member

Activity: 2856

Merit: 644

https://duelbits.com/

So far I have not heard it. your case is very unique and sounds weird.
why do you lock your assets, everyone wants to enjoy their success.
the best way is to buy real assets, such as land and houses.

Shenzou

sr. member

Activity: 1400

Merit: 283

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.

If you really wanted to keep 1 million in crypto you should have cash it out overtime because you can't cash out 1 million that easily, probably the best thing that you can do right now if you want to safe keep you funds i suggest that you move them all into bitcoin and keep them there because the bitcoin is always going to keep going up, or switch to bitcoin and slowly cash it out overtime and put it in the bank account.

partysaurus

sr. member

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