is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
For me, yes of course. Because turning all your real money into a virtual money can really be prone and associated to risks because even if Bitcoin was that popular and the price was really that attractive, still there can be risks to be found in it because of being virtual, malfunctions can be a risk to be associated with it and we can never tell that one morning, Bitcoin will go into a great loss which is impossible to happen yet there is stil a possibility so better keep holding into your real money and at the same time with your Bitcoin. 
Topic: is it risky to turn all my money to bitcoins? - page 48. (Read 37348 times)
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 .
I agree. It is risky since you will let all of your money with the thing that you are not sure. We do not know when does bitcoin will rise or will go down. Bitcoin is volatile and cannot be surely predicted. Once it goes down, you lose your money but you are lucky if it goes up. It is a 50-50 situation. Better to invest a small amount first, study the graph of the price and do not leave your wallet without money. Do not turn all your money to bitcoin because we do not know, maybe bitcoin will disappear suddenly.
Yes I think it so risky to put all your money to bitcoin instead just put the amount of money that you can put in a risky but a wide opportunity..
Putting your all of money in bitcoin is really risky but if you will just put the 70% of your money here in bitcoin i am sure that it is not risky, because i am confident that investing or putting your 70% of money in bitcoin is the best strategy to do to have a lot of money in the future.
For sure yes, don't put all your eggs into one basket as Warren Buffet said instead diversify your assets to lessen the risk, and i think this is the main strategy when you are investing although bitcoin is really fine it is still better to diversify your money.
a very important thing to know is, this bitcoin is another form of an asset. and this asset is a good thing because it is integrated and uses technology. so it would be very vulnerable if changing all the money using bitcoin, and of course to access it requires an internet connection.
what happens if there is no internet connection but then you really need your money?
what happens if there is no internet connection but then you really need your money?
Yes it is risky if "all" your money...you need to be very careful and wise once you decided to enter bitcoins. Yes, you can earn alot from it but if you don't have enough knowledge and skills to work on it, every money you have will be wasted.
I think it is very risky invest everything you have to the crypto. You can earn a lot of course but you can lose everything as same as get a big profit. If you are a big player, you can try it, but I would have risked half.
A prudent investor will never put their eggs in a single basket! Thus I believe it would be a very very unwise move to turn all your fiat currency into Bitcoins. Even veteran cryptocurrency investors preach the fact that it is wise to spread your fiat among many different cryptocurrencies to maximise profits and at the same time minimize the risk of losing your entire initial investment. Diversification is the name of the game!
If you are planning on buying the currency, only invest as much as you are ready to squander. The more volatile the investment (as in the case of bitcoin), the smaller proportion of your wealth you should consider storing in it. It is a bad idea to move your life investments into bitcoin.
If you have $100 to spare, buy a tiny amount and track its price. If something goes wrong, the $100 can be written off, and it can be considered a learning experience.
If you have $100 to spare, buy a tiny amount and track its price. If something goes wrong, the $100 can be written off, and it can be considered a learning experience.
it's always risky to do things in an exaggerated manner
It is risky because the money in the bank don`t have a huge risk but btc`s volatility is a risk, if you are risk taker and want to double your money it is a good opportunity.
yes it is as recent statistics has shown how volatile bitcoin is. though some people say diversification is bad when investing if ones plan is to be successful, its still the most potent way to enter bitcoins .
The point you've raised alongside your question sounds good. However, I would convert say 70% of my savings to BTC and earn some profit after a while, while I leave 30% as fiat currency. My point is, you may have some immediate need after converting all your savings and will need to do some conversions back if what you may want to spend on doesn't accept BTC. My thoughts though.
Of course, I do not recommend risky
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes, it's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose.
It is risky to turn all your money to bitcoins. Just make what you can afford to lose. Because its not forever, we don't know what's tomorrow bring.
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Definitely, it is really risky to put all of your money in one place especially with bitcoin because of the volatility of bitcoin and the bubble. In investing don't ever put everything into it that's the number one rule in investing, wherever you invest it is always the number one rule. If you want to invest with cryptocurrency, I would suggest on investing with different coins and with altcoins because you will have more chances earning than investing it to once place which the risks is more higher.
Turning all your money to bitcoin is really risky. Money have stable value while in bitcoins no one can say when the value become high or low. It is favorable to you if it is increasing but what if it is decreasing but also in bitcoin there is a big opportunity to have a profit and earn more.
Yes it is risky putting all your money into bitcoin because you cannot tell what's gonna happen tomorrow bitcoin is so unpredictable today it has a good value but you may become surprise tomorrow it no longer have the price it has today and may suddenly crash and lose its value..so better safe and do not put everything you have in a risky situation
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes it is. There is still a risk associated turning your money into Bitcoin even though it is popular and beneficial. Because despite of being the one, still there comes a time that Bitcoin drops from nowhere and if you put all your money and turn it into Bitcoin, a great loss will come and you will suffer. So I suggest, better keep your fiat into where it is and better make an outgrowth with your Bitcoin so that you do not have to transfer all your money into Bitcoin. Jump to: