is it risky to turn all my money to bitcoins? - page 122.

DIMKAZDS

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Quote from: heyouyou on November 09, 2017, 01:29:48 AM

Of course, there is a risk, because bitcoin now has big price fluctuations. If you invest all your money in bitcoin, you may lose money in the short term and you will be under a lot of pressure. So I do not recommend that you invest all your money in bitcoin, with a small investment. Of course you have to understand the risks of investing. good luck.

Yes definitely it is very risky to turn all of out money to bitcoins.The biggest disadvantage of bitcoin is its volatile nature.We do not know when will its value increase or decrease and upto what extent.Though today its price is at a very good level and we cannot say what will happen tomorrow.Few weeks back its value was very low.People who had invested in bitcoin suffered a big loss recently.You should need to have an adequate knowledge about bitcoin and investing or trading in bitcoin.Since it is not under the control of any central bank or government,there can be many cases of fraud too.

Lalafell

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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!

Actually, its too risky to turn all your money into bitcoin because the price of bitcoin is volatile so that there are time it will drop and it may result to losing money. However, if you have trust in bitcoin you must turn all your money because having a lot of bitcoin is an opportunity to become rich.

LTCendmanagement

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Do not do that, better set aside some of your money for bitcoin, some for your life. If you're broke in bitcoin or maybe you're the victim of a hacker, you'll regret it forever.

ruthbabe

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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!

Bitcoin is a risky investment in so many factors, such as high volatility and security risks. So, I think it's not advisable to invest all your money on it but some amount you feel you can afford to lose.

hadisaw

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It's too risky, better invested 40% - 50% of your money. Because the fluctuating bitcoin price will make you panic when it will drop dramatically.

King Sastro

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Everything is a risk, but if we turn all my money to bitcoins this is ridiculous, we never know what happens with bitcoin, because in a matter of hours it can go down to 20%.

South Park

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Quote from: taiwww on November 03, 2017, 11:45:04 PM

It is always risky to invest your all money at one place.
And that risk increases when you put all your money in volatile currency like bitcoin.
If you see bitcoins history charts it has fallen 20% in a day. Bitcoin is a decentralised currency backed by nobody.
Banks are backed by governments so relatively less risky.
It is advisable to keep some money in bank so whenever you need cash you can withdraw it from Atm.
If you have more risk more profit set of mind then bitcoin is the best option, you can invest in bitcoins it will give you more returns than any other currency .

That is always a big risk but at the same time some people may be willing to take the risk depending on their financial situation, some people may think of bitcoin as their only real chance to become rich so they may take the risk of investing everything they have in bitcoin, it is not right but I can see their logic.

sudip76

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Yes it's risky. your all money invest in bitcoin that's not a good decision. 1st you learn about crypto currency then you think about invest
in crypto currency.

MotulDiesel

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It is depend how do you think about bitcoin. If you believe in bitcoin's future, you can turn your money to bitcoin and invest it in bitcoin stuff to earning money. However, if you just see bitcoin as a trend, you can turn a part of your money to bitcoin then you can invest or saving bitcoin for future and waiting for higher price. It can be a good way for you. Finally, all the choices are depend on you.

Ajinomoto40

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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!

We all know that the certainty that bitcoin will be always a success is not that big. There are still some chances where you will experience failed campaigns or other ways. This just simply shows how risky it is to turn all your money to bitcoin. A lot of things may happen. Yes you may say that the value has been rising a lot nowadays but no one has an idea until when will the increase of the value happen and when will it end.

Spontebob

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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!

It is very risky most especially now that the value of bitcoin is very high. Imagine buying one will not surely benefit you that much since the value is too large. Try watching out for the price and figure it out if it's a good idea to buy one. The best thing to do right now is to invest in bitcoin and keep on earning as time passes by so that you don't have to buy anymore. Have faith in bitcoin and know that it is volatile so keep an eye on it.

AwpDragonPoor

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Yes, a volatile currency that may fail at any time. Then, you will be screwed, your assets turned into worthless cryptocurrency. You should put a bit into btc, but not ALL of it in their.

asus09

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I think you should have knowledge of crypto. so big a risk with virutal currency. but you can get rich quick, that's the advantage.
so I think all you have to do is take the time to find out about bitcoin knowledge.

heyouyou

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Of course, there is a risk, because bitcoin now has big price fluctuations. If you invest all your money in bitcoin, you may lose money in the short term and you will be under a lot of pressure. So I do not recommend that you invest all your money in bitcoin, with a small investment. Of course you have to understand the risks of investing. good luck.

Ayiranorea

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It is risk involved, but the trust one has will make the user overcome the panic relating to the cryptocurrency world. Recently an user converted all his assets into bitcoin expecting a good return after years. He hadn't simply converted it, but understanding the growth he has done it. So, growth is real and we need to have the patience to benefit.

Nilda

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Never put all your eggs in one basket. Diversify your portfolio.

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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!

It depends to you if your money will be risky or not. It depends on your knowledge about investing in bitcoin. If you knew a lot about investing as well as how it is processed, maybe it will not be risky for you to turn all your money to bitcoin since you said that your money is doing nothing in the bank. But if you dont have enough or prior knowledge about investing in bitcoin, i think it is better for you to learn it first because it will be too risky for you.

lenj

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The way to be safe is by dividing your money into some different coin such as etherium, neo or something else that you think good.
More you split is more your chance to cover each other.

Man21

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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!

Yes sure its more risky. Split your money is better than just put all money in one basket.

hunterkrypto

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yes very risky all money made btc let alone btc prices erratic sometimes harm you and sometimes benefit you. and we do not know if there are hackers who are eyeing our money even though the security of your wallet hell yes very hard in broken

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