Topic: is it risky to turn all my money to bitcoins? - page 186. (Read 37348 times)

Yea its never been good idea to turn all your money in bitcoins because currently we cannot fulfill our daily requirements through we need some other sources also for this purpose you could be in troubled as some time prices goes down and you want to cashout better divide this and then convert for your all requirements

Money that's sits in the bank is bad investment because you loose for sure because of inflation. You do get some interests, but they are lower than inflation, so in the long term your savings do loose value. I was in that dilemma too and decided I don't want to waste my money in the bank anymore. I always hated the idea to invest in some funds, because I find it hard to trust anybody with my money but myself. So I invested it all in crypto and after half a year I made very nice profit. No chance I could make nearly that much out of bank interests by the end of my life, and by that time that profit would be worth much less because of inflation anyway. But I have diversified the portfolio, keeping it in one single coin, even if it's Bitcoin is even more risky, than spreading it between several coins. A large part of portfolio is in coins with large market cap, and the small part I invest in smaller coins and ICO's that have potential for high profit in short term. And when I collect profit of those I turn them into larger, more stable coins to grow my portfolio.

But it's still very risky, my life doesn't depend on the savings I invested. If I lost everything I could still buy food, pay bills and have roof over my head. If you know you will depend on those savings at one point, don't go all in. Just invest some small percentage, maybe 10% or so.

It's always risky to turn all your money into one investment! You shouldn't invest more than 20% of your hole balance into one type of investment and this also not if it's something very successful like bitcoin. Because you can't conclude from the past to the future.

Having your money sitting at a bank is the worst thing you can do, as the inflation will it its value in 10 or 20 years.

Bitcoin is not yet popular enough to be used in many groceries and store, how will you manage the instant transactions everyday or paying services using bitcoin. Imagine the hassle

At least save a certain percent of your money for daily use and then do what you want with the remaining money.

Indeed, never put all your money in one basket. Always diversify your portfolio, I have now around 60% in BTC and the rest is LTC, ETH, XMR.
But don't invest all your money in bitcoin, start low and do some research. Only invest with money that you are willing to loose.

My advice , better keep that money untill bitcoin goes down but never invest what you can loose and never invest all the money. Make smart investments man.

It is insane idea

The main rule of the investor is the diversification of risks. The more different currencies in your portfolio, the less likely the loss of your savings. I have a rule 50% - btc, 50% altcoyins.

This question is some difficult. Yes there is risky . But without take risk you will not get any good thing on the world. You should invest btc when rate is low. Then your risk will low. There are not major risk. But one thing for turn your money in btc is high profitable in future. So you can take a little risk to gain. And must keep safe your Bitcoin wallet.

Yeah it is risky to turn all your money to bitcoin. The price of bitcoin is extremely volatile. You can't predict when the price will go up or when will it fall. If in any case the price goes down, but you need to exchange your coins, you will be facing some loss. But if you won't be withdrawing your coins for a long time, then it is better to store your money as bitcoins instead of just keeping it in the bank.

Of course it is risky!

if it is too risky to put all the money into Bitcoin, according to many more risky things that we often do, back again to you, whether you want to take risks or not

I know how you are feeling right now, you are in the state that you are full of doubt about Bitcoin and other cryptocurrencies because you can't even touch it physically when you put it on your bitcoin wallet, you must better first listen to Andreas Antonopoulos in youtube about his 'Introduction to Bitcoin' so you will have a fully and much better understanding to what is the true potential of Bitcoin and the comparisons of Banks and Cryptocurrencies. All investments are risky though, invest what you can afford to lose.

It's risky to do business, it's risky to trade and it's risky to try to remain anonymous, but you do all these right? You know why do you do it? Because of risk-to-reward ratio as that's the main and foremost factor which is taken into consideration while we put anything into asset class. Bitcoin is one kind of an asset and I think that everyone is familiar about the rewards it has given to the risk takers till date.

It's always risky to put all your money into a single investment, so I would advise you not to do it.
Bitcoin is on the rise and it will most likely reach higher prices. $5000 is to be expected by the end of the year, so an investment is generally recomended, but don't put all your eggs in one basket.

Generally, people always advice others to diversify, but I am not exactly feeling that when it comes to Bitcoin. I rather invest my spare money into even more Bitcoins than choosing another asset to invest in. Altcoins are too short term minded and not really worthy according to me, and the more traditional investment options aren't rewarding enough. Bitcoin has a tremendous amount of potential growth that it will experience in the coming years, and for that reason Bitcoin will remain my only investment option.

I think it is not risky when you will convert your money to bitcoins because according to the predictions of many of bitcoiners, the value of bitcoin will going to boost up because first, China will come back to the cryptocurrency and then many other country will do the same thing that is why the value of bitcoin will increase a lot and that is why as of now, my advice is to convert your money to bitcoin and keep it until that time will come.

yes it is risky its not because bitcoin is volatile coz thats what i love about bitcoin
all you need to do is to risk only the amount you wont be needing for example for 2 mos or 3 mos
and accumulate bitcoin when its down

Generally, if you don't know if it's risky to invest in something that has increased thousands of percent the last few years, you should not invest in anything by yourself. You don't understand risk what so ever.

Definitely! This goes out to all investments, not just in Bitcoins in particular. There is a saying that goes, "Do not put all your eggs in one basket." I think this saying really makes sense in general. Imagine putting all your hard earned money in Bitcoins, then in some way or another it gets too complex that it has shut down for all good reasons we can ever think of, what will happen to your investments? Be wiser, and invest your money in different funds and get various sources of income. That is the only way to get richer for sure.