is it risky to turn all my money to bitcoins? - page 164.

Mr. Thang

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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 definitely is! Before investing, you need to understand that there is the risk of you, losing all of your money should the price dramatically decrease or when you get hacked. Investing everything into bitcoin may be a bad idea, especially when you have a priorities to your family. If I were you, invest the money that you are willing to lose, or invest only a percent of your monthly income to avoid any damage.

hilda483

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As long as you are very cautios and don't have any malware in your PC that may steal your password therefor your coins, you should be safe. But you need to be extra careful.

romecheo

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Yes, you we're absolutely right, if your put all of your money in Bitcoin, it was your fate will decide, you may end up a millionaire after few years or not having anything left in your pocket.

You may put at least 60% of your saving to Bitcoin and leave 40 percent for your daily expenses.

asebaby

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As bitcoin price dominate headlines,one mind also think to invest all money into bitcoin ,but we should know that is just too volatile and those sudden ups and down will be bad news to our portfolio.Although bitcoin had a more than 100% of once investment return and if we should invest,make sure its a part of your investment,i will not recommend someone to invest all his/her money on bitcoin,you could be in a tied Corner and in need of money, it could be health attention and all your investment is in bitcoin and the prize drops not worth your investment and you may want to sell because of the loss or devaluation.

Xester

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Quote from: Daniel91 on October 14, 2017, 08:33:59 AM

The golden rule of investment is to invest only the money that you can afford to loose.
Never invest food money, housing, medical bills etc.
If you follow such rules, you can invest money in bitcoin and wait for results without to much stress or risk.

Yes, just invest what you are willing to risk. And it is not a wise thing if you will turn everything , all your money to bitcoin. Where will you get money to buy foods and other necessities. Also where you will get to pay your bills. But if you will invest everything and you invest it before, then surely, you have a brighter future.

FRJ

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It's least risky to turn all your money into bitcoin.Still there remains some question for bitcoins are not legal in most of the countries.So,you may face difficulties as long as it gain legality.But bitcoin will give you a huge number of advantages that may overcome it's dark side and go a long way.You can hold bitcoin,(it's price is raising rapidly),exchage it from any corner of the world without expressing your identity,can trade though it and even you can do shopping in online etc etc.My suggestion is you can turn most of your money into bitcoin but keep a little amount of money with you only to avoid unexpected situations.Best of luck./b]

Lintel

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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.

Yeah I agree because ot its volatile nature of bitcoin. You can invest in here but I suggest not all of your noney. Because in this business you can either earn big or you wil loss. But at this moment the value of bitcoin is really high. So bitcoin is getting stronger.

Daniel91

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The golden rule of investment is to invest only the money that you can afford to loose.
Never invest food money, housing, medical bills etc.
If you follow such rules, you can invest money in bitcoin and wait for results without to much stress or risk.

carrie_white

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nobody knows about the future, let alone about bitcoin, if we know bitcoin will be this expensive, especially now it is almost through 6000 $, surely we will change our money all become bitcoin.

Rifat0099

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NO It is not risky to turn all money to bitcoin. Because bitcoin is on kinds of money. It is digital currency. I think bitcoin is more safe than money. Every day bitcoin price is increasing but money price is not increasing. So I think you should convert your all money to bitcoin. If you convert your all money to bitcoin then you will receive a great profit in far future. And bitcoin is safe. There is no risk in bitcoin. So i highly recommend you to convert all money into bitcoin. Thank You.

xamxam

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i think it's not because we all know that bitcoin is a good currency that many people trusted on it and knowing that it is accepted in many countries is one of the reason that it is safe to turn all your money to bitcoin especially like what you said that it is sit on the bank and do nothing for.

daserpent

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Quote from: Betwrong on October 14, 2017, 07:18:55 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!

If you move all your money in one place, no matter what place, of course it is always risky. But I'd say Bitcoin, if you don't do obvious mistakes while holding it, is probably one of the least risky places. Buy while the price is still low compared to what we can see in the future years and hold, don't panic even when the price goes down.

I agree, bitcoin is compratively safer options than most alt coins and even Fiat nowadays.

They say a big economic crash is gonna come soon, which will be felt in all sectors of the economy. Crypto is a nice hedge against that.

maokoto

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Yes it is very risky. Bitcoin may get banned in your country, be found hackeable, or lose lots of value. You can also lose access to your coins somehow (lose your keys) which is a possibility too. Or get hacked.

theglydelmae

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Yes, of course it's risky! It's always important to know that we need to diversify. We need to have proper allocation of our resources, be it money or other things. diversification is always helpful if you want to minimize the risk.

Betwrong

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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!

If you move all your money in one place, no matter what place, of course it is always risky. But I'd say Bitcoin, if you don't do obvious mistakes while holding it, is probably one of the least risky places. Buy while the price is still low compared to what we can see in the future years and hold, don't panic even when the price goes down.

coindynasty

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Not really, but some. There is always risk, even though Bitcoin will very likely return a profit. There is always the possibility that something could happen, especially in the short term time range. If it is money that you cannot lose, then don't do it. If it is a good long term investment, go for it.

Playing around and trading, then go for it there too. Just do not ever put the grocery money, kids college fund or anything like that in any investment.

FrankNoland

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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!

Risk is involved in every investment. In my opinion, I think its worth it, bitcoin is not just any cryptocurrency. If you decide to spend all your fiat into bitcoin you should go for it. We all know that the market is volatile, however, bitcoin has proved that it will continue increasing no matter what.

Early this year bitcoin was sold at $800-900, looking at it's value currently trading at around $5700, even if it crashes, but it won't be to zero, you will still get something from your initial investment.

valentin68

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Yes of course it is risky, you you keep all your eggs in a basket is risky, isnt't it? I would say to have no more than 10% of your total assets in bitcoins. My preference is to have (for now) less than 5% of all my assets in bitcoins. It is extremly risky to have all your money together in an account.

Sale_man

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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!

If you are willing to take the risk then go on ! I wouldn't change them all to bitcoins but i'd change the half at least since it is a very promising currency and you can see how it evolved through history achieving 5.7k $ right now . It sure has it's ups and downs but profit will always be made . You should wait for the right time do that tho (next correction or hard fork ) .

yndye

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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 it is risky. As much as possible, only invest in bitcoin what you can afford to lose and spread out your investment. It is highly rewarding to invest in bitcoin if the price of it increase but still we cannot deny the possibility of it decreasing in price. Saving your money in bank is not profitable either but it is still safer than saving it all in bitcoin. You can choose to put half of your money in bitcoin and put half in bank or any percentage and then put it in another investment option. Spread your risk and spread your investment as well.

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