Topic: is it risky to turn all my money to bitcoins? - page 189. (Read 37348 times)
Well yes, it is pretty risky to turn ALL of your money into bitcoins, especially because in most places BTC cannot yet be used for regular living expenses. I think the old adage "do not invest more than you can afford to lose" applies here...bitcoin is notoriously volatile, so it is best to use savings that will not be used for a while for buying bitcoin. If you can manage to make enough profit from trading bitcoin you can move surplus funds into savings and other investment options besides bitcoin, and these can generate a more stable income for you.
Yes, it is. Why can't you just have both? Bitcoinand fiat can coordinate with one another.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes it is! In any case do not put your money into something you cannot afford to lose. Yes we know that bitcoin has a higher chance of increasing in value in the future but what if your country suddenly decides to ban bitcoin so it would be hard on your part to get your money back. It is enticing to invest into something that has a possibility of making its value multiply 2x or even 5x in the future but there is also the possibility of the opposite happening. You can invest maybe 10 or 20% of your money into bitcoin and invest others to other investment options. Never put all your eggs in one basket. You should always diversify to spread the risk.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Not only risky but also foolish and unresponsible. Never put your eggs in one basket. Diversify your portfolio, maybe turn 20-40% of it to Bitcoin, and spend the rest on other investment. There are so many kinds of investment out there. Try to invest some in stock and real properties.
Bitcoin is extremely volatile and shouldn't be seen as a stable hedge fund like gold. Use it if you have some money that you can afford to lose and want to try something exciting.
Investing all of your money in bitcoin is very risky. Please remember that the bitcoin's price is very volatile and no one can predict whether the price will increase or decrease. If you plan to invest I suggest that you only invest what you can afford to lose or you can earn bitcoins instead and use it as your capital.
Yes for me it's quite risky if you turn all your money in bitcoin because even though bitcoin has a very promising value appreciation in the past years still it can be trusted 100% that it will not crashed or lose its value. Better be safe while also having investment you can convert some into bitcoin for me atleast 40% of your money can be invested.
Have a proverb sentences in our urban city that is don't put your all money in a one basket because it is a very risky if your basket lose you will lose your all bitcoin if your close friend hack your account you can lose your all money so you need to put your money in a different wallet and never move your all coin to bitcoin.
Yes, I do think so it is extremely risky to do so. Just assume bitcoin as stocks of a company (a bluechip company stock to be more fair). Are you willing to invest all your money in stocks? I hope you dont
You can invest some of course, the rest would be better to be invested in a safer kind of investment
You can invest some of course, the rest would be better to be invested in a safer kind of investment
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
id say yes because investing is like gambling and theres also a risk.so i suggest dont put all your hard earn cash on bitcoins rather put only small amount that you can afford to loose or you can also divide your money, (ex. half on a bank and half on bitcoins ) although banks is still safer to store you money but you cant earn much interest on it.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Certainly it is risky and it is not only for bitcoin. It is true for any investment. If you invest in a single asset without diversifying it exposes you to a great deal of risk. Because if that particular market goes down, you will end up loosing all your investment. So diversification is the key for healthy investment. So I won't suggest you to invest all your money in to bitcoin.
Instead diversify into more than 3-4 coins and also in some real-world asset like bank deposit or company debt papers. This way you will be able to lower your portfolio risk. So if bitcoin or all other crypto goes down anytime. You real-world investment will give you a support.
Obviously, yes, it is so risky. I suggest, spare some of your money so if something bad happens to you (let's say you got scam), you still have money. But I believe in bitcoin. Investing in bitcoin is a good thing. With proper knowledge, you can gain profit by investing in bitcoin. Sparing some of your money is just for safety.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
For me in my opinion its not risky if you now what are the safe procedures or process how to convert your money into bitcoin or wallet that you want to use after.. but i suggest that don't turned all your money into bitcoin. Just pick small amount first if you don't have any experience on how to convert your money .and If you want to multiply your money instead of nothings happen in the bank . Will try to buy low and sell high which there's a chance that you can earn alot of profit such as TRADE OR INVESTING when bitcoin value fall buy a cheap price the when you notice that its starting to climbed in a higher value then sell into a high price. . full member
Activity: 364
Merit: 118
Bounty Campaign Manager? --> https://goo.gl/YRVVt3
I think it is , it is really risky specially bitcoin's price is volatile you should study trading first and the movement of price ( which is really hard to do) it will take a lot of time for you to master this. But one piece of advice. Don't do it. Maybe do it when the price is stable (maybe in the future but who knows).
Yes it is a bit risky to turn all your money to bitcoins, because the price is volatile and we cant exactly expect its future, despite its powerful potential. Always cash is needed for needs and living and also for emergency cases.
Also it is better to invest in many crypto currencies , and diversify the methods of earning.
Also it is better to invest in many crypto currencies , and diversify the methods of earning.
Bitcoin is way too volatile and it's exchange rate changes really rapidly compared to other currencies. I would advise against exchanging all of your savings into BTC, while the future for bitcoin is most likely positive nobody can really predict the future. Who knows, maybe we'll experience a huge cryptocurrency crisis in the following times? I'm overexagurating at this point, but it's better not to invest all of your savings, not a very clever investment in this case from economic point of view.
Yes, It is risky, I am not saying this because of the price variations. Am telling this because the governments are already angry towards the decentralized currency and may be your country may start putting regulations on it. So invest only the savings and keep it safe.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
Do you think it's not risky to hold money in the bank? 
it is risky. But Bitcoin will bring you 300% growth per year, but how much your bank gives to you? 5-10% per year.
I have heard stories about people who take a loan in a bank and buy Bitcoin with those money. And it really can be profitable, cause of Bitcoin will give you +300% and for loan you will pay 10-20% provision
So, think yourself what is more risky here and more profitable.
it is risky. But Bitcoin will bring you 300% growth per year, but how much your bank gives to you? 5-10% per year. I have heard stories about people who take a loan in a bank and buy Bitcoin with those money. And it really can be profitable, cause of Bitcoin will give you +300% and for loan you will pay 10-20% provision
So, think yourself what is more risky here and more profitable.
Yeah, sure! Listen to this guy. And then look at this:
Where is the 300% growth per year between November 2013 and January 2017? Will you able to keep your investment at a loss for three or more years?
Getting into debt to buy a highly volatile asset is quite silly. You may have luck and make money but not because you are a smart person.
OP, you have to read a lot about investing and about cryptos before you put your money into bitcoin or another asset. Having it in the bank has some risk as well but because everything has some risk.
Don't listen to this guy, he has even made me think whether he is joking.
Yeah its risky to put all your money on bitcoin. You must be a pro on this currency or Trader before you give all of your money on it because it can make your money gone in just a couple of seconds if the market value of bitcoin goes. You must be knowledgeable before you invest everything on an ICO or any cryptorelated.
I agree with you it is risky to turn all the money into bitcoin and it's not only limited to bitcoin but let it be any venture or investment product it will be foolish to invest everything at the same place. As far as bitcoin is concerned one should ale\ways be aware of the current market situation of bitcoin in order to be on the verge of investing more or trading bitcoin for money. Only your own research and knowledge with bitcoin will help you in decision making and earning profit.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
No! Don't do that. It is not only with bitcoin. Even with any kind of business it is highly not recommended business-wise to put all of one's money in just one business venture. Haven't you heard this expression, " don't put all your eggs in one basket" before now? Try to spread it across bitcoin and other cryptos, offline business like shops, keep some in the bank. If you like forex trading, why not?
First of all no your money is never in the bank they give out loans from your money to others and they just give you some numbers to keep track on. and Secondly yes absolutely, It is 100% risky to turn all of your money into bitcoin because bitcoin is not a ponzie scheme but its price is not fixed. but yes I can say in bitcoin no one is going to touch or use your money on there needs like banks do. Your money will be much safer and from bitcoin, you can grow your money on some services like trading or buy/sell.
Jump to: