is it risky to turn all my money to bitcoins? - page 183.

KenChanYu

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Quote from: nesty on October 05, 2017, 06:07:49 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!

It is very risky as an invetor do not put all eggs in one basket because the crypto market is volatile if bitcoin decreases you might loose more of your investment but if you know how to play the game of trading you can tolerate the risks you will encounter.

yes i agree i think if we invest all that we have right now it is verry risky it is also called gamble if we are going to do that.another thing is that we cant predict what will happen on the next day a month a years bitcoin is reall unpredictable i also suggest that find another business dont lean all of youre profits in bitcoin.

Anonaneadone

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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, if you have money, why not exchange it for bitcoin because if your money is only stack and nothing to do there is nothing to go with but in bitcoin, you can get your money while in stack

bakkang

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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 do not assure that our money will be secured since this involved technology. I have been observe that theres a lot of intelligent people who has been stealing our money online they are called scammer. In my own ways i would rather keep it in my own hands rather than turning all my money to bitcoin.

Barcode_

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I would not really advise you to exchange all your fiat money into bitcoins, bitcoin is a good investment, but there is always a risk in every investment, you need to know that in the trading market of crypto-currencies, there is the risk of huge volatility and sometimes the values of bitcoin can decrease a lot overnight.

mylalaworld

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Yes, It is highly risky.
Diversity your portfolio.
Maybe 10% in crypto is good.

iL_P4driNo

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I think it's risky to invest all your saving in bitcoin. May be when you need to spend your money you find lower price than the price you bought with.
I like always to keep cash in safe place for emergencies.

Titanos

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I think it risky. Don't put your egg in one basket and don't invest what you can't afford to loose.

Pleione527

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I think its not risky beside if you want to use them anytime you can just convert some into fiat. Bitcoin is a good currency to hold either for short term or long term period specially now that the value keep increasing. Converting all your money into bitcoin does not mean you cannot use them when you need it so I think there's no risk with that

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اللعنة

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 IF you are not watching on the movement of BTC price. Bitcoin and other cryptocurrencies are well known for their volatility - meaning, their price might go up or down anytime. If you put all your money on bitcoin, and left it for a long time there in your wallet or trading account, the tendency is that when the price of bitcoin by that time drops, then you'll lose a lot of your capital/investment. It is good if the price of bitcoin by that time rises up, but that's not the case most of the time.

yishak

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By "all my money" do you mean each and every single penny you got? If yes then don't do it cause bitcoin is volatile its too risky to do that. Never invest what you can not afford to lose in bitcoins , altcoins or any other kind of stock markets.

Xester

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Quote from: kyori on October 06, 2017, 11:01:16 PM

Yes, it is a risk because bitcoin might go down anytime that you will surely lost some of your money but it can also pump up that your money will surely grow.

Well I agree with you but it is part of investment. In any way, there is always a risk like investing on stocks, buying things, putting up a business. But if turn all good you will have a good income or profit. Though I knew bitcoin and I am positive about it, I will not invest all my money to it. Of course, I need some money to spend for my daily needs. And I do not know when emergency will come.

salihno71

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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!

Well, that would be ok if you're fine with the possibility that you can lose all of those funds. Smart people said never invest more in bitcoin than you're prepared to lose. Smart people also said that it's not a good idea to hold all of your eggs in same basket. So bottom line is, bitcoin is volatile, you can increase funds, but you can also easily lose them. So diversify, invest some in btc, some in altsoins of your choice, leave some in bank. This way you're safe.

Lorilikes

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Yes, this is highly risky, and I insist you do not ever put all of your money anywhere. In real estate they say "location location location". In finances it's "allocation allocation allocation". Must diversify in order to safely multiply.
Good luck, and may your goal be met Cool

Cheers, my friend.

Snaic

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Indeed, it is absolutely impractical to transfer all your savings to bitcoin. A certain part of the money intended for everyday purchases should remain in normal currency. In addition, it is not recommended to keep all money in one digital currency, they need to be distributed among others. Typically, 70 percent is recommended to keep in bitcoin, and 30 percent in another digital coin.

PalindromemordnilaP

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You can invest 1/3 of it to bitcoins, the other 1/3 to trading and the remaining 1/3 at the bank. But i think it's more profitable investing in bitcoins since its value is surging high despite it fluctuates sometimes. The risk is there but it's always a win-win situation at the end of the day.

Usafstar

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yes it is highly risky because one saying "donot put all eggs in one basket''. so if you are risk avoiding personality you will have a fear that if suddenly fall the current position of bitcoin then will suffer from great losses and ultimate you will even does not recover your half payment.

severaldetails

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Of course that is risky and I would advise everybody strongly against it.
There are high price fluctuations, a wallet can get compromised, legal issues with the government can come up, people can lose interest because of too mane forks and so on.
I think that every successful investor tells one thing: don't put all your money into one investment.
Diversification is the key. Crypto currencies, fieat money, stocks, gold, real estate. A good investment strategy starts with avoiding to lose money.

lienfaye

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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, investing is risky because there is no assurance that your money will grow. btc is a good investment however dont put all your money in it because what if it didnt turn out well then nothing will left to you. better to invest only 20-30% of your money and let the remaining in your bank account. for me its better that i still have savings in the bank so if ever my investment dont work i still have money to start over.

MidKnight

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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. It's obvious that you have needs and you still need cash to buy and pay for that because btc is accepted only on few selected markets and companies for now. Divide half of your fortune to btc and that is now ain't risky.

Shreek

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I think no ,,, bitcoin safer and easier, the money we exchange into bitcoin it would be nice we invest in bitcoin ,, despite having the risk but the risk a little ,, that's what I know ,,

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