is it risky to turn all my money to bitcoins? - page 45.

Sir Legend

sr. member

Activity: 1792

Merit: 255

Quote from: lionheart89 on January 13, 2018, 10:15:37 AM

yes very risky because bitcoin is very volatile. you can lose bitcoin at any time but can also get a big profit. i think it's better to use free money for investing in bitcoin.

I agree, ordinary bitcoin prices go up or down thousands of dollars a day, and I do not think I'll ever put all my money in bitcoin because it will make me stress and always have trouble sleeping because I keep thinking about bitcoin prices.

mangkiko

jr. member

Activity: 57

Merit: 1

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!

Yeah it's risky.Because Bitcoin is a currency which depend on the internet. If internet dies bitcoin and all other crypto currencies die along with it. Further if bitcoin is banned tgere is a possibility to lose your money.However,either of above facts has a very rare possibility to occur.So as bitcoin will be the digital currency of future we shouldn't just wait thinking that this is not reliable.Otherwise we will be too late. Therefore the vice decision is to invest a certain amount of money.

trashvin

member

Activity: 89

Merit: 19

“Decentralized Transportation Economy”

Quote from: lionheart89 on January 13, 2018, 10:15:37 AM

yes very risky because bitcoin is very volatile. you can lose bitcoin at any time but can also get a big profit. i think it's better to use free money for investing in bitcoin.

Turning all your money her in bitcoin isn't suggested. It's pretty risky. No one knows what wil happen in bitcoin so it's risky. You can invest at most 50% of your money but don't just turn all up your money here because it could disappear in a snap and you'll regret doing that.

philad220

newbie

Activity: 187

Merit: 0

Yes of course! investing in bitcoin involve risk taking due to its volatility.

lionheart89

full member

Activity: 350

Merit: 108

yes very risky because bitcoin is very volatile. you can lose bitcoin at any time but can also get a big profit. i think it's better to use free money for investing in bitcoin.

findgreenland

member

Activity: 93

Merit: 10

Of course it is a high risk to turn all of your money to BTC even though those money only stay in the bank for low interest.
I strongly suggest to invest about half or less than half of your money to purchase BTC right now or lower price.
For long term, those money can make better profit than just stay in the bank. Whereas in short term you may make a wrong decision by price goes down of BTC.
So do not take too much pressure such as turn all of your money in bank to BTC.

ovcijisir

sr. member

Activity: 1491

Merit: 320

🐪

It is very risky, and definately I would not recommend it. What I would recommend is to take 1 -10% of savings and invest that in Bitcoin or other criptorurrencies.

Joshapat

sr. member

Activity: 1526

Merit: 255

Is a crazy thing when we put all the money on bitcoin, although it's proven to be profitable but I do not agree if we put all the money on bitcoin, there's always a risk for loss in investments including bitcoin.

choppork

hero member

Activity: 588

Merit: 500

You would lose money if you're going to convert ALL your money to bitcoins.

I think that it's not only risky but it's also impossible to survive with all your money converted to bitcoins. Every day, you have to spend money on food, transportation, and shelter. Okay, some might be exempted for the expense of transportation if they do work at home and have no social life. Some might even be exempted in the shelter expenses because they might have bought the house before or that somebody else is paying for it. But food? You would always pay for your food. Even little kids need money because of food. It's still possible that you're still living with your parents and you don't pay any of the three. (That's pathetic, btw) but you are still going to eventually pay for something. You would eventually want to buy something and that leaves you to having to convert your bitcoins back to fiat money. That's a loss for you since the sell rate and the buy rate are a lot different. Not to mention that there's a cash out fee for all websites that allow you to cash out.

Razo123

newbie

Activity: 60

Merit: 0

Yes it is risky to turn your money into bitcoin. Because the value of bitcoin changes over time. Sometimes the bitcoin price is high and sometimes low. So do not invest all your money in one institution. It is not only risky but it is also dangerous.

ardyology

full member

Activity: 238

Merit: 101

Escorting Meets The Sharing Economy

It depends on how you define and qualify the word 'risk'. If you are comfortable losing your money should the platform crash, then by all means hoard some bitcoins. However, I recommend you ask for a friend who knows about Bitcoin and the Blockchain, it will help you evaluate your investing strategy. Also, try to diversify. And mostly, remember that knowledge is the only tool that could minimize the risk. Diversification is just an added precaution.

Godric-Gryffindor

member

Activity: 319

Merit: 11

It is risky if you have no enough knowledge in trading or investing in any range of investment instruments not just crypto specially Bitcoin, the thing is if you put all of your money in one investment without looking to other trading instruments you will miss all the chances to have a security and to make sure your gaining win despite your loss in other trading instruments, what i mean is; it is alright to turn your money into investment by diversifying your portfolio and not focusing in one bluer and more safer haven bitcoin.

Bestprint

newbie

Activity: 14

Merit: 0

Yes very risky. You will not have a backup then. If, just if something happens you will have nothing to back yourself up.

Joylee

member

Activity: 168

Merit: 10

Of course, it is very risky to convert all your money into bitcoins. The value of bitcoin is not steady or permanent. It changes every time. There is no assurance that the value of it is always high. So better set aside a little of your money and do not invest all your money for one purpose. Great Opportunities, Big Risk. This is crypto.

DiscretePatriot

newbie

Activity: 104

Merit: 0

It actually is advisable NOT to go all in on any type of investment, not just Bitcoin. No matter how solid a certain investment opportunity may be, we still can't predict the future.

Marucya

full member

Activity: 258

Merit: 100

I'm sure that investing all my money in bitcoin is the most extreme investment that I can do. In my opinion, the main problems of bitcoin today are high commissions and a falling rate of remittances.
You can make a choice and benefit other crypto-currencies, such as Bitcoin Cash.

moetimas

full member

Activity: 221

Merit: 100

Yeah right, this is very risky and do not put all your funds into bitcoins. Although the current bitcoin price continues to rise, but it could be the price suddenly dropped. because the bitcoin fluctuates and no one controls it. If the price goes down, this will result in your money being lost (unless you are calm and patient). Buying in a smarter way would be better.

LegGekkouga

member

Activity: 77

Merit: 10

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!

Of course. In any cryptocurrency and even in real money situations, gambling is only a part of bitcoin but turning all your money to bitcoin is life real life gambling anytime bitcoin can suddenly go down or be worthless but that's highly unlike for now. So yes, of course its not only risky, it is dangerous.

weblouartisan

full member

Activity: 448

Merit: 100

Lets Go Adab

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 very risky, We never know when the value will increase or decrease because of the markets volatility and because of that, We always need to think strategically depending on the situation. The best thing to do is always read articles that is related to bitcoins in order to be always updated before investing.

phudinh

newbie

Activity: 40

Merit: 0

come on dude, we are moving from 3.0 industry to 4.0
Some theory will become outdated, cryptocurrency will create the new world, soon

Topic: is it risky to turn all my money to bitcoins? - page 45. (Read 37348 times)