is it risky to turn all my money to bitcoins? - page 61.

BlackBeauty

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Quote from: sean.maley on January 04, 2018, 04:13:18 PM

Quote from: stormivy14 on January 04, 2018, 02:48:54 PM

It is risky to turn all your money to bitcoin! You should never do that, you should save some for your own financial security and back up money. Bitcoin is not stable. It continuously fluctuates.

That is true. It is not advised to put all your investment money into a single financial instrument.

No it will not risky if you turn your all money in bitcoin because bitcoin price grow up and you will get best profit, but if bitcoin price going to down so you should never fear because suddenly bitcoin price high and many investors gets their huge profit, so it is also beneficial for you that your money double in bitcoin.

sean.maley

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Quote from: stormivy14 on January 04, 2018, 02:48:54 PM

It is risky to turn all your money to bitcoin! You should never do that, you should save some for your own financial security and back up money. Bitcoin is not stable. It continuously fluctuates.

That is true. It is not advised to put all your investment money into a single financial instrument.

RomertL

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Yes, I think it is a bit risky. Always need to have a stash with cash. Or money at the bank

stormivy14

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It is risky to turn all your money to bitcoin! You should never do that, you should save some for your own financial security and back up money. Bitcoin is not stable. It continuously fluctuates.

nellakarisma

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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!

better if I think some of the money spent in bitcoin and partly to keep intact money .. for economic needs every day and keep watch if bitcoin price down so we do not have to sell our coin .

daarul50

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Risky or not is if we change all the money owned into bitcoin it depends on how we manage the bitcoin. If the money is only deposited in bitcoin then there are two possibilities of gaining profit and loss. But, if we make money by doing various crypto trading then I think profit will flow all the time if we already understand the right way of trading.

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Quote from: BountyX on January 04, 2018, 12:58:50 PM

Yes, it is incredibly risky. One of the golden rules in cryptos is to invest only what you can afford to lose. So you have to chose how much of your savings you are ready to risk. Because IT IS a risky investment.

It is really too risky to invest all of your money here in bitcoin. You must save for youself and you should invest that is adford by you budget. You don’t need to invest it all. Because here you don’t have assurance to gain money.

Alex Khvatov

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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!

Any investment that brings high returns has an inherently high risk! It would be risky to turn all of your money into just one extremely volatile asset that is also the most unpredictable in the history of investing.

That being said, I would leave a certain rainy day fund in your bank account and would try to invest the most you can into crypto-currencies. Several of them are better to diversify away your risks, do not focus on just bitcoin. I'd recommend bitcoin, ether, litecoin, ripple, IOTA maybe as well... Then when you'll be ready to invest in ICOs, that could be more preferable. Use a couple of exchanges, not just one.

BountyX

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Yes, it is incredibly risky. One of the golden rules in cryptos is to invest only what you can afford to lose. So you have to chose how much of your savings you are ready to risk. Because IT IS a risky investment.

Potatohead

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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. Even though bitcoin is a really promising crypto currency, it's price can either go up or go really deep down depending on it's market demand. Investing all your money all in on bitcoin would just make you starve. Bitcoin is a good long-term investment, imagine what would you use to buy your daily needs and necessity if you will use all your money on bitcoin. Just invest the amount of money you can afford to lose.

Sunnyyy

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I'm not sure it will be profitable. So I advise you not to invest all your money for bitcoin. You can also buy slowly to hoard. You can lose everything when bitcoin is destroyed

maynguyen

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I do not think it's true that you turn all your money into bitcoin. Bitcoins are not widely available. Not so, the future of bitcoin is uncertain, you risk losing everything.

cryptokudi

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If you are an expert in marketing and have a good education about the fluctuating of the value you may end up making huge profits, But it is that we are like 99% sure that bitcoins won't die and the prices won't come to ground. 1% can even mane a difference. What if you buy and the value goes down and never comes up.!? So rather than putting all your money into BTC use them to buy assets that would be profitable in future.

redhondaxrm125

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Quote from: luigidosado on January 01, 2018, 03:26:20 AM

Putting eggs in one basket. That's what they say. It is a risky way of keeping your money because of the unpredictable nature of bitcoin. We can never say what will happen with bitcoin in the future. It would be safer if you keep a certain amount for bitcoin. And also, it is more advisable to invest your money in different altcoins which is way more profitable than just keeping it in bitcoin.

Lol, even if op does what you are saying which is not invest in one egg i.e., investing in different cryptos, that would atill be very stupid. Because you see, when you put money on cryptos, it aint going to be easy to withdraw your money. You will still have to convert ans gonto exchanges. And if emergencies come, op won't have shit to use because he mindlessly invested every damn thing he had.

cloudbleron18

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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!

i thibk its not because if you want to back your money in bitcoin that the right way for choosing because bitcoin never betray you.bitcoin is always their to hear your pray if you invest again that money will be become a so much.

meringueberry

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Now that bitcoin is only on the way to stability, it would be risky to put all the money that you have for this. Consider this as surplus and still attain reach cash on hand.

luigidosado

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Putting eggs in one basket. That's what they say. It is a risky way of keeping your money because of the unpredictable nature of bitcoin. We can never say what will happen with bitcoin in the future. It would be safer if you keep a certain amount for bitcoin. And also, it is more advisable to invest your money in different altcoins which is way more profitable than just keeping it in bitcoin.

GideonGono

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Yes it's risky. How to do it at the same time with emergency and the price of bitcoins has also fallen. Surely if the bitcoins have been replaced with fiat moneys you are losing. For example, if the money you invested in bitcoins is $ 1000, and it will drop $ 800. That means you're losing $ 200 and of course if you have an emergency at the same time and you really need money it will force you to withdraw it. So it's better not to put all your money into bitcoins because there is a big risk of losing it especially in unexpected events.

Yantoaja

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I think it's very risky enough if you turn all your money into bitcoin ..... because bitcoin is not yet fully into a legitimate transaction tool for all payments

xnuggets

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The best time to buy bitcoin is now. Many people become millionaires because of that risk, all you need is just trust on it.
Though, it is very risky to give all your money to bitcoins, specially when the market is volatile and unpredictable.
It's the best way to save some for emergency, rather than have a full strike if you want safety.

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