is it risky to turn all my money to bitcoins? - page 151.

achikomimi

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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 right that letting your money sleep in bank is not good at all. But it is also not good to convert all your money into Bitcoin. Because Bitcoin's price is volatile in nature. Anytime it will decrease in value different from what you bought. What if you need money right away and you don't have a reserve in your bank then the price of Bitcoin is lower than what you bought. So that's a loss for you. So better invest money that you won't get for a long period of time. Invest only the excess, not all.

Jessica_Doll

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Quote from: xPPx on October 24, 2017, 09:44:06 AM

It's risky to turn all of your money into ANYTHING. Maybe liquidate 25% of your investments for BTC and buy more every now and then with your spare change...

Yes that is right that it is always risky to put all your money in one kind of business, you need to invest your money in different places if you want make a secure profit.

ride22

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Yes, convert everything to bitcoin, and even take out loans to buy more bitcoins. Very solid plan! Roll Eyes

kiirz

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way too risky. You still need fiat in your daily life imo

Jgatsby

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Pretty kewl right?

All invest have their own risk, so always be wise investing, I'm not saying that Bitcoin ain't good to invest money on but as investors says invest what you can afford to lose, so if you can afford to lose all your money then go, the stakes are high but if you're luck then the return would be magnitude.

Dewi08

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During that time you can be careful and smart to play back your money, no one at risk, unless you choose to invest your money other than bitcoin, then chances are you can get big losses ...

girl

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It would be risky if you don't have the proper knowledge about bitcoin. But no matter how good the bitcoin these days, it's still smart to at least keep some amount for backup.

xebecstyx

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Quote from: terrific on October 05, 2017, 05:20:39 AM

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, it's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose.

Most definitely!

It would be a disaster and a bad idea to turn ALL your money into bitcoins because you can't really never tell how the trend and market value of bitcoins would be. Its value changes in a blink of an eye due to many different causes. It is still safer to have money on the bank because you would be ready if ever there are unforeseen expenses along the way. If you would want to invest in the market or trade, then it would be better to research a little bit and gain more knowledge to help you succeed in that venture that jumping the gun and exchanging all your saved bucks into coins.

Kakawate

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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!

Im willing to turn my money to bitcoin, but not all, I can turn more than 50% of my money to bitcoin but I will leave some money in bank just to have money to spend for my daily living and needs, I don't want to disrupt the profit my bitcoin is making me. Turning your money into cryptocurrency is risky, but bitcoin is a different story, some says its a bubble, but I think they're wrong.

xPPx

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It's risky to turn all of your money into ANYTHING. Maybe liquidate 25% of your investments for BTC and buy more every now and then with your spare change...

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

If you are in a country like Venezuela, I would leave all my money in BTC I would not hesitate because because of its bad economic policies would assume such risk and would have a 99.99% gain every day and every second that passes, you could say that I would take advantage of the moment or rather the great moment.

Rasel5209

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yea it is risky if you don't have enough knowledge. every day pain about it. how can I save my bitcoin cause regularly many people victim hacker. so I tell it is risky but if you keep it correct store. you can save your bitcoin.

Jaydeepjani

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Turning all your money in Bitcoins ? It's a good idea but we must be carefully investing it

Glamel

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Quote from: cybersofts on October 23, 2017, 11:50:42 AM

Quote from: joseafonso123az on October 05, 2017, 05:27:30 AM

Quote from: ahmad21 on October 05, 2017, 05:23:09 AM

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!

Its highly risky. There is no set laws in any country related to it. Moreover its heck of volatile. So investing all your money in bitcoin is going to give you a lot of heart shocks each day. But yes invest 30-40% of your money for long term.

That's very risky. Let me elaborate, BTC market is still very volatile, therefore can suffer a lot of ups and downs. And suppose you need that money, but suddenly the BTC price got down, and you no longer have that same value, you will be at loss there. I thing you should invest some of that money sitting in the bank, and leave another in the bank. This way you will have money in case of need, and you can let your BTC converted money increase in value throughout months!

The fear of taking a risk is very risky. If you are always afraid of taking a risk then you will never make anything good for yourself. If you are afraid of losing all your money on bitcoin investment then why not do 50-50 of your total asset? For me, I always go with all of my assets. I'm still young, so what if I lose all of my money? I can still start over in no any time and make something for myself. I just have to be right one time and retired for life.

I agree with you a 50/50 would be a good thing to do i would put 100% in it and invest 50% and save 50% this way i will make profit out of both and if one goes wrong the other will make it good that is also an option if you want to so bad.

leisha

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It is risky to convert all of your money to bitcoin because bitcoin is a currency in the virtual or internet world which is prone to hackers and it might also prone on losing. We should not give all of our trust on that kind of currency because it may give us regrets.

Mawnis

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Yes it is because there is always a chance for bitcoin to go down again. Because it is not a stable currency. So if you have bitcoins and it will be worth nothing in the future you will lose a lot of money so that is why you need to play it save.

jimn

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It is a bit risky to turn all your money to bitcoins. Bitcoin still having its price volatile and it can go down anytime as known. So better to invest some amount in BTC and keep some fiat amount as well. Or you can invest in altcoins.

Creepings

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Quote from: ?? on ??

i think that it is the best way to make it a bitcoin

Not the best way. Bitcoin is volatile, everyone knows that. If you will be putting or investing all of your money in these digital currency, are you sure that it will be giving you a good profit through time? Yes it gives a good profit but it is also good if you don't put all your money into bitcoin but just a small amount of your money and then if the investment in bitcoin give you a good profit, use that to buy more bitcoin.

K.Bravo

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It is necessary to diversify the risks in any case. For example in other cryptocurrencies.

bitcoinmasterlord

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Quote from: jhel08 on October 24, 2017, 08:11:11 AM

Yes, it is very dangerous to put all your money into bitcoin because bitcoin is very fast to increase and decrease in value unlike your money right now. Better to put your money into the bank to be secure. Invest a little money in bitcoin and grow it.

Putting all your money in bitcoin is really a risky move, but you can put your extra money in bitcoins instead of putting your money in any chit funds or any other investments you can go for bitcoins. This is a promising coin and the returns also 100%, but you have to wait for some time that's it. I am investing my extra money in bitcoins and other altcoins.

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