is it risky to turn all my money to bitcoins?

julielyn

newbie

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

For me it's not dangerous to turn all your money into bitcoin because you do not lose the money you just do not know how to increase and decrease the bitcoin but it's only natural that you're going to buy it

BILGPS

full member

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Yes it is highly risky to tun all money into one coin if the one coin fall then you will lose you present value of your wealth So bitcoin is the famous currency and we have many options in the market for that the money conversion to bitcoin is not a wise decision and the value of one currency is not growing all the time if you have many coins then it is good because through this you will minimized your risk.

Suffoc8

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yeah, bitcoin is a risky thing and it is also very complex. In which if you missed a specific topic about bitcoin you cant understand the whole concept about bitcoin.

winyau8888

member

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I am a baby to cryptocurrency~

IMHO, it is really a risky to put all your money in Bitcoin. The market is too volatile, no matter how much faith you have, I think 50% is still too much.
Unless you do not care, otherwise, try put 10-30% or you money and see how you react. Grin

Windbeard

newbie

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Any investment is always a risk, especially in such an unstable and fast-growing currency as bitcoins.

panther16432

newbie

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I think it is not a risk. Beacause no one can destroy or hack bitcoin network. Bitcoin haven't central authority. Hence no one can make walls for bitcoin. I like to convert my all money to bitcoin

White32

member

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In my own thought dont put all your money in bitcoin bacause in case of emergency you cannot convert it into fiat specially when the price of bitcoin dump. The bitcoin price is volatility and you will not know when the emergency comes out so much better if you kept money on the bank and invest bitcoin only the amount that you can afford to loss.

Sampson7

newbie

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It is risky to turn all your money to bitcoins in sense that. Let me elaborate, BTC market is still very volatile, therefore can suffer a lot of ups and downs. And suppose you need that money, then suddenly the BTC price goes down, and you no longer have the same value, you will be at loss here. I think you should invest some of that money in the bank, This way you will have money in case of needs, and you can let your BTC be converted to money or increase in value. I will never turn my whole money into bitcoin Because bitcoin has no official approval by the government of my country to use.

iyan33

sr. member

Activity: 434

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yes the risk is quite large, because in the world of bitcoin there is no such thing as a responsible person if our coin is lost or stolen, but if we dare to exchange money with bitcoin keuntunganya big enough, but if saving money in the bank there is no profit , that's according to our courage

akiraho

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jazpreti

newbie

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Yes, its risky to turn all your money to bitcoin. There is no 100% sure for this kind of investment. There might a big chances but it is still risky because the small chances might happen for you. So it would be better not to invest all your money. That is it.

Stegobit

jr. member

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Its much safer to keep your money in Bitcoin than in bank account or fiat cash.

bubble pop

full member

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Quote from: jonathan6655321 on October 05, 2017, 05:15:45 AM

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Absolutely yes! When you turn all your money to bitcoins were not quite sure if your money will gain high value of profit it can be double or triple or will go low it's value knowing that bitcoin value is so unpredictable. Bitcoin is a matter of luck take a risk or do nothing else.

Trilogy-AI

newbie

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Quote from: patz22 on February 18, 2018, 09:46:58 PM

I leave some of my money in the bank even though it will not grow you can have your immediately in case of emergencies thats why I didn't turn all of my money into btc. And also due to the fact that it is volatile and we cannot control the market thats why I Iose some of my earnings last year but still I will hold because it is starting to go green.

Yes, one of the under-appreciated benefits to keeping some money is cash is that it stabilizes your investing psychology. If you have some cash, you are less likely to panic on a drop in BTC price (and end up selling out at the worst possible time).

patz22

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I leave some of my money in the bank even though it will not grow you can have your money immediately in case of emergencies thats why I didn't turn all of my money into btc. And also due to the fact that it is volatile and we cannot control the market thats why I Iose some of my earnings last year but still I will hold because it is starting to go green.

miang

member

Activity: 196

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Yes its too risky, specially now while the market is in bearish situation. One more thing, bitcoin is in trouble. On November 2017 there will be a hardfork. This might cause another huge Bitcoin dump. If you can just predict what is the dip, then you can start buying bitcoin a portion of your investments from your local bank.

Pamela Jobelle

member

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I will never turn my whole money into bitcoin Because bitcoin has no official approval by the government of my country to use, so a type of risk or fear will remain in the heart that what will happen if the government of my country will take the negative decision or will they ban than what will happen. It's ok to invest your money, SOME of your money, not the whole amount that you have.

Ekimzjames20

member

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Quote from: daarul50 on February 18, 2018, 06:46:45 PM

Investment on crypto cannot be 100% valid prediction because some factors that can influence market condition especially bitcoin millionaire who do pump or dump so it is very risky if we invest all our money to bitcoin. However, it is from these fluctuations that make crypto more desirable than other investments because with such fluctuations the bitcoin traders and millionaires can get some profit.

Yes it is risky to turn all your money with bitcoin. Risk is always there even in a small or large business. That is part of being a businessman, in order us to grow. We can't predict what woud be the future. So if you invest, don't put all your money. Invest with what you can afford to lose.

daarul50

legendary

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Investment on crypto cannot be 100% valid prediction because some factors that can influence market condition especially bitcoin millionaire who do pump or dump so it is very risky if we invest all our money to bitcoin. However, it is from these fluctuations that make crypto more desirable than other investments because with such fluctuations the bitcoin traders and millionaires can get some profit.

Marco Ambrusini

full member

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Well we shouldnt never invest into one single coin, even bitcoin being the most stable and best option to invest i would split my investment this way 40% into bitcoin and the remaining 60% i would put it into altcoins, soo i would diversify a bit the investment, even knowing bitcoin potencial.

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