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Topic: is it risky to turn all my money to bitcoins? - page 195. (Read 37348 times)

full member
Activity: 518
Merit: 145
Most people here have already told you the truth so no need reiterating what they have said. You should not see bitcoin as a get rich quick scheme and as much as we may want to have high hopes regarding bitcoin, it still remains at its early adoption phase and I sure will not want to put all my funds. However, if you feel you can take that huge risk, no problem. Same way you can start sweating profusely when the price starts dipping hugely is the same way you will be smiling hard when the bullish trend starts occurring. But in any investment, try to always have a back up plan just in case something goes wrong.
legendary
Activity: 1162
Merit: 1000
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
turning all of our investments into bitcoin certainly has risks, but otherwise we might get tremendous benefits. bitcoin investment is risky because the money we have depends on bitcoin price rates so when bitcoin prices decrease and we need real money then we can earn much less money. but if the price increases of course we will get a lot more money. all investments certainly have their own advantages and disadvantages. in terms of security I am sure storing in bitcoin and in the bank is a safe thing. the only difference is that we risk losing money from the losses we get.
full member
Activity: 616
Merit: 102
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

In my own opinion it's not risky. However you still need emergency fund in your bank account. From the word emergency meaning you will be using that money for emergency purposes only, for it is easy and fast to get money directly from the bank than in your btc wallet when you get sick.
newbie
Activity: 1
Merit: 0
Definitely, It's highly risky to turn your all money in to bitcoin. it's not a wise thing to do. Ask your friends to know more about it. Invest like imo app and earn big. IMO is free no cost to make calls and text, its easy use imo for pc. just like that KIK For PC. another thing to do in pc is snapchat for pc.
member
Activity: 167
Merit: 10
In the long term view risk is low I guess but put all money in anything is never a good choice, you should diversify.
full member
Activity: 518
Merit: 184
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.
hero member
Activity: 1400
Merit: 536
It is not that risky. But it is wiser if you are to exchange your money or buying bitcoins using your money. Well I am not saying that it is risky because the capability of bitcoin is really great. Probably more wise if you will buy at low price.

Right now the price of bitcoin is not low. I would enter this risk at low price. but now the price of bitcoin is $ 4300. At a very critical level.
sr. member
Activity: 574
Merit: 250
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

for what turn all your money to bitcoin? what about your need? for life everyday, to buy stuff or whatever what you need.
you can get more money if you can, but you can loss all your in one turn
hero member
Activity: 3038
Merit: 634
The answer is very clear, putting all your money in bitcoin is really risky. I don't want to see people ranting out here in the forum telling that he invested all of his funds in bitcoin.

And while he has the hope of earning big with that amount of investment but later on seeing the price of bitcoin starts to decrease then he's going crazy because his money is becoming lesser.

I would advise that you should not invest into only one investment and just let your bank stay at the bank if you'll not going to use it.
sr. member
Activity: 574
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
It is not that risky. But it is wiser if you are to exchange your money or buying bitcoins using your money. Well I am not saying that it is risky because the capability of bitcoin is really great. Probably more wise if you will buy at low price.
full member
Activity: 952
Merit: 104
★777Coin.com★ Fun BTC Casino!
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes, its too risky to put all your money to bitcoin, knowing that bitcoin is volatile and can change everynow and then. If you want to invest on bitcoin just try to put little by little until you understand how to manage bitcoin.
sr. member
Activity: 504
Merit: 250
Trading is risky but if you turn your money to bitcoin, I don't think it is risky just be sure you keep them secure and safe so you won't loose them. I had even withdrawn some of my money in the bank and invested in bitcoin and some altcoins.
full member
Activity: 546
Merit: 100
Definitely yes! It is very risky but it is still up to you if you are a risk taker then go. But for me, I won't going to do that, just remember the phrase "Only invest what you can afford to lose".
hero member
Activity: 882
Merit: 500
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
In my opinion it will be risky but here to say risky or not will be bad thing because all this will depend upon that person where he lives ( country ) .
Here if I will be at your place then I will never turn my whole money into bitcoin Because bitcoin has no official approval by the government of my country to use , so a type of risk or fear will remain in heart that what will happen if the government of my country will take negetive descion or will they ban than what will happen ( Im actual it is not easy to ban but still a type of fear remain in our mind ).
But if you are living in that country than you Should turn 90% of money into bitcoin directly without.much tension because future of bitcoin is much better than fiat currency .
Here you should also take care that bitcoin is not accepted by every person currently , so to have fiat in your bank account also will be better for you in the case of emergency .
hero member
Activity: 588
Merit: 500
Do you think it's not risky to hold money in the bank?  Cheesy 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  Grin
So, think yourself what is more risky here and more profitable.
sr. member
Activity: 987
Merit: 289
Blue0x.com
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

You know what pal, there really is no such thing in this world that has greatness without risks. That just doesn’t exist. If you wanna be successful, take a risk. But do not take risks stupidly. Take these risks with great precautions. Being successful involves lots of thinking and patience. Of course risk taking also.
Having said all these, I suggest you put half of it as investment and half saved for emergencies. Because anything can happen a minute after now.

Good luck pal.
hero member
Activity: 3080
Merit: 603
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Definitely it's a risky thing to turn all of your money to bitcoins. But there's an if, if you 100% risk taker and a bitcoin believer you will do this because you believe that there will be a big pump that is about to happen very soon. I don't recommend this thing to do, I don't care if my money sits in the bank and earn no interest or being used for their loan services as long as it's secured there that will be fine.
hero member
Activity: 1456
Merit: 579
HODLing is an art, not just a word...
these questions really have obvious answers!
just take a look at the charts and how price moves. put yourself in those times when price is rising or falling and try to think what will you feel if you had all your money in bitcoin and price went up 20% or went down 20% in a couple of days.
i think that will answer all your questions.
full member
Activity: 238
Merit: 100
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

I feel you mate. The dream of getting rich with bitcoins is really tempting if you ask me. And that can really make you think of putting everything you have on it. As good as how bitcoin looks today, it might seem like a good idea to do as what you are saying but you see, bitcoin has no assurance. If you lose, then you lose. So it is better if you just go and invest money that you don’t need. And work regular jobs at the same time. To avoid big mistakes or regrets.
hero member
Activity: 1400
Merit: 536
Certainly I will not recommend you to risk all your money, because it will negatively affect your personal life, you will have to constantly look at bitcoin prices. Maybe you'll see meaningless numbers in your dreams Smiley
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