Insurance or cryptocurrency investment? - page 12.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

Its obvious you know the decision you want to take but you only need to be more careful with the choice of action as you proceed forward.

The issue about the way the system is designed is that no matter the interest they are offering you for keeping money with them, its just the same thing you kept with them with some cents on it if any due inflation that would have been calculated before coming out to tell you the fixed interest rate While they would have made more than double portion of your fund only to keep them richer.

Karen23

full member

Activity: 189

Merit: 100

Quote from: error08 on September 09, 2017, 06:40:05 PM

Cryptocurrency offers higher interest than insurance obviously, especially if you invest in bitcoin and hold it for long term.
Bitcoin has been proven could gain fantastic value every year, even there are a lot of fluctuation, but at least bitcoin could tanks, recover and rise again. The cycle always repeated, that's way people always sell bitcoin whenever it reach highest price.

I agree. My insurance promise to give me atleast 3x aftee 10 years of maturity but compared to btc from May 2017 is more or less $2000 dollars now it rises to $4000plus. For 4 months there is 200% rise.

ewonardo

sr. member

Activity: 616

Merit: 250

Insurance becomes vital choice for those us who live in modern times. Because with insurance, our condition in the future is more secure. Whereas in crypto, everything can happen without predictable before, especially if intend to transfer insurance funds into bitcoin. Use other money than insurance. Investing little by little as you are saving to bank. I believe it's more effective and safe.

metenjean

full member

Activity: 854

Merit: 140

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

The thing about insurance, its difference from investment. If you're investing in insurance for its protection then it would be a waste to turn it into bitcoin because, why would you pull your health plan, in case you got any problem then nobody will cover for you. However if you're investing in insurance thinking it would be triple 10 years later then it would be a big mistakes, remember that insurance investment plan didnt has a fixed rate and a fixed income, your investment can either double triple or flat. Mostly however if you add investment with insurance, then in 10 years you're investment will surely become losses as some insurance got acquisition cost other than more added cost.
If you're thinking about crytocurrency investment, then i think you need to invest idle money in your bank which really used for investment, other than withdrawing your insurance. It would be a disaster broo Grin

Carlsen

hero member

Activity: 910

Merit: 501

I would say that you have to keep in mind that crypto currencies are not only risky in terms of price developement.
There is the technical factor as well.
Your coins can get lost or stolen. An exchange can get hacked as well. In those cases you have a 100% loss.
Those are external circumstances you have to consider as well when you move money from an insurance into crypto.

ss890

sr. member

Activity: 644

Merit: 263

Who have seen the future after ten years with an insurance company which is having all those tiny terms and conditions written with smallest font size and you won't able to read it after ten years from now. That would be shitty to keep it in the insurance box and they just turn the conditions when it comes to availing the same. Better pull it out now as the time us right to invest your money into bitcoin and other altcoins. If you see future of bitcoin ten year from now then it's just blooming and you are already millionair believe me. I'm not talking in the air but that's the fact and facts never change. Look at the bitcoin currently it's been very successful since the start of it and growing over and over again. Don't regret after ten years just enjoy the investment at this point.

tiggytomb

legendary

Activity: 1848

Merit: 1000

It's a tough decision to cease one investment and move it over into crypto but if it all goes well it could really pay off but there is always the slim chance of it going the other way.

equator

legendary

Activity: 1190

Merit: 1002

Quote from: TheCoinFinder on September 10, 2017, 11:26:33 AM

There is no assurance in cryptocurrencies you would pull out your money or increment even after a long period of wait.
I would rather suggest to hold your money with insurance policy. Investing in crypto is a kind of legal gambling and gambling involves risk.

without risk you cannot get high profit you can do is just put some part of your investment to bitcoin and balance you can put in insurance so if tomorrow bitcoin die you wont get affected but if got to jackpot price then you will become rich

TheCoinFinder

legendary

Activity: 938

Merit: 1001

There is no assurance in cryptocurrencies you would pull out your money or increment even after a long period of wait.
I would rather suggest to hold your money with insurance policy. Investing in crypto is a kind of legal gambling and gambling involves risk.

ankurguta87

full member

Activity: 364

Merit: 117

both are required. Bitcoin is too much risky. so you should have financial security also.

tristan1960

full member

Activity: 217

Merit: 100

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

What kind of insurances is that? A car insurance, a house insurance or a personal health insurance... There are lots of types and if you give us more specific information, we can make constructive comment on this manner.

If I were you, I would pull my insurance in order to invest in bitcoin.

Singbatak

full member

Activity: 434

Merit: 100

There is no assurance here in crypto currencies. You can lose and reduce your money's worth. But the only thing I know is that if you hold it for a long time it will not triple. If not so much more than you expect such bitcoins for almost eight years before it's made its price is only 0.15 a piece that's worth it when you sell it now nearly x10,000 are just raised I just estimate it because I can not really count some of it. So I assure you that you will actually earn, But I have only questions to you. Are you familiar with Bitcoins, Altcoins? This is the key to becoming wealthy, the knowledge.

herurist

sr. member

Activity: 1680

Merit: 259

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

Depend the situation, careful with your money. Insurance is a good finance product, will help your need but only when the time comes up. But invest with crypto is just like job, your hard work, time and money will needed and sometimes only loss you have. Know your risk, I suggest invest with " another " money and let your insurance stay in the place. Only suggestion and have a nice day.

smile1218

full member

Activity: 406

Merit: 100

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

You know that would be a great idea. Think carefully which currency are you going to invest your money from your insurance because it is risky crypto world is so volatile and you should be ready to take the risk. To tell you honestly i had done what you are thinking i had pulled out my stocks and invested it in crypto.

juri543

newbie

Activity: 35

Merit: 0

Follow the three simple rulz!

1. Make a trading plan
2. Diversify (Some BTC, Some top 20 by market Cap, Some ICOs)
3. Dont regret of missed opportunities, tomorrow is anotherone

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

If you are planning to invest make sure that you study the market thoroughly before investing your hard earned money,the crypto currency market does have the risk but if you are bold enough you could make a fortune investing in this market,but wage the risk ratio before investing and make sure you learn everything about the token or coin before investing.

PinkB

sr. member

Activity: 256

Merit: 255

Without proper knowledge of crypto trade Don't join in trade.if you have no idea or proper skill about crypto trade then its not for you. Crypto can give you 3x or more withing few times but it has huge risk also.You can lost all of your investment also.so if you think, you are in good trade then welcome in trading.If you think you are not,then go for insurance.Insurance will be safe investment.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: Karen23 on September 09, 2017, 04:46:03 PM

Hi, I'm planning to pull my insurance to invest in crypto for long period of time and trade a portion as well. Recently, I was wondering if I let my money sleep in my insurance for 10 years it will triple but I'm also thinking that what if at that time the value of my money is still the same as today because of inflation.

I am not familiar with this so I don't know how the "insurance thing" works. but if it is a guaranteed profit then try to keep at least something in there. a guaranteed profit is always good thing to have even if it is a small amount. although it is just my opinion and I tend to make safer decisions in life.

for trading, start it with a smaller amount, a portion of what you want to take out. and try things to see how much profit you can make from that. this market is a little unsafe but very profitable if you can learn it. start small and make that small amount grow and keep the profit in.
that's what I have done.

Eternad

hero member

Activity: 1400

Merit: 623

Quote from: ImHash on September 09, 2017, 07:53:47 PM

Your money will not worth the same after 10 years, you will be able to buy a car with the same amount which you have to day and could buy a house with it today, fiat is losing it's value as governments print more money without asking for permission, but in crypto especially in bitcoin not only your money won't lose it's value but it will grow exponentially every year. besides it's decentralized and more people will begin to use it as a way to evade paying taxes, you should expect the price to rise 10 times in less than 5 years.

That idea keeps us going into investing more in crypto, now we seel a bunch of stories investing in crypto and being successful after a year,just a year we can multiply our savings. It maybe not easy but much easier than having insurances or regular job.

karmamiu

sr. member

Activity: 588

Merit: 351

According to what mostly people telling here, it is way too risky when we say crypto investment, but in the case of yours to choose between life insurance and crypto, then it shouldn't be an issue or rather it shouldn't be that. I would like to recommend you not to pull out those life insurance investments, besides when you need bitcoin for your investment you can try to work here to get the bitcoin you desired as for your capital in your trading investment. It is just like choosing between life and death so don't lose hope and options.

Topic: Insurance or cryptocurrency investment? - page 12. (Read 2980 times)