Is it smart to keep all or almost all savings in prime cryptos like BTC, ETH? - page 3.

woas4

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The smartest thing would be to diversify your investments. Owning many different coins isnt the right thinig to do because at the end of the day all your money is still in the same ''asset'' which are the cryptocurrencies.

But of course this depends on your age and investment profile. If youre not too risk averse, its ok to maintain a higher risk higher reward portfolio with most of your savings in crypto.

reypinioco

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Your savings will be safe only if you put it in stable coins like BTC ETH LTC ASH XMR other than shit coins will be a high risk,whales can easily manipulate the lower cap coins.

The_Dark_Knight

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Quote from: cindygirl on November 14, 2017, 11:48:48 PM

Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

Really, don't do this, you never know what may change in your future that could lead you to need urgent access to your savings, by all means invest a significant portion in cryptos but always leave yourself a buffer.

This is common sense, we should only invest what we can afford to lose and no more than that, so it is important to keep a good amount of money in hand and not invested that way if something were to happen we will be able to cover those expenses without having to sell our investments, but if you can afford to invest in stocks and bonds do that as well since that reduces the risk of your portfolio.

pia19

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I think its not advisable to invest majority of your savings in cryptos. Yes, there is no question that cryptocurrencies change the way we look at our financial capability. Yes its also true that you will profit more when you invest in cryptos than in banks. But you should always remember than these are digital currencies, and its very risky. You will never know when the value will decrease, its very unstable. Maybe its value today is very high, but it might decrease its value drastically overnight. I think its best if you invest 50% of your savings in cryptos and 50% in banks.

just a man

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Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

If you are an avid investor then yes it would be wise to have a portion of your money in those coins.

If you aren't investing in Crypto that much then no.

MV7

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Simple answer is yes, if you want little risk, then btc, maybe eth is the way to go. btc especially has seen huge growth in the past two months. If you're up for high risk high reward investments, go for altcoins

kandholabhavna

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Bitcoin and Etherium are among the safest bets in the crypto. Litecoin has also maintained its ground and is my 3rd choice among large cap crypto currencies which are least volatile. So if I were to place my money is most stable currencies in crypto, I would split it among btc, eth and ltc.

RudeeTam

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Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

For me, moving most of your money into these top cryptos is a smart move. They already have history and backed by a good community and developers. They still have constant developments. But keep some of your funds in the bank (for ease of access anywhere with an atm) or at home as emergency funds.

BlockchainGod

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To keep their money in crypto currency it's a good idea, but into them do not need to store more than 30% of their funds in my opinion.

roller_coiner

newbie

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It is never smart to keep a lot of funds into a single coin. Always diversify to distribute and dilute the risk.

adam1230

legendary

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It sounds good but i will not put all eggs in same bag. Why not to split them ?
You can buy Gold or stocks to split your risks.

engrshu

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Btc and eth are the best option of investment. It is always risky when you invest that's why you should only put your extra money on it, not all of it. Because we never know what will happen, tho there's a low probability that btc and eth will crash instantly.

Adioliver

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Putting all your hard earned money into cryptocurrecies is not recommended.Its really risky as you never know when a crypto might crash but at the same time you could make a fortune out of it too.The risk is worth taking.If you have already made up your mind to invest all your savings into cryptocurrencies then all the best.But don't forget to do a deep research on which crypto you are going to invest in.

ReLieD

sr. member

Activity: 546

Merit: 255

Currently it's not risky to keep them in btc or ETH but you never know what happens the next day . If some powerful person talks shit about Bitcoin then the prices of Bitcoin will fall down. And that might affect your savings. It's better to keep a part of your savings in the form of Cryotocurrencies as even if something happens you always have a backup

rodel caling

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Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

oh yes bright idea from you investing in any btc or altcoins surely you can get huge of benefits holding for long terms all kinds of coins because i believe every day month year have an increasing the value, but you need to monitor your coins because the being volitile currency manny hacker around there keep your coin in the safe wallet to avoid risk for your investment.

lienfaye

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Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

Yes bitcoin and eth are a good choice and leading the cryptocurrencies. I dont think its a bad idea however think carefully before putting all your savings in crypto.

Yes it can be profitable for long term but are you aware of the risk? while its true that in the bank your money is freeze its not growing but for me its safer and i prefer to leave some of my money and invest 50% of it.

xenomorphe1

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I think it is not bad to put a lot in BTC and ETH. But you need to be sure that you don't need the money immediately. Because you could lose if you change the money when their value are low. And there is also a risk that if you need a lot of money, it may be difficult to change a lot of your crypto to fiat money.
But if you don't need this money, it is okay to put it in crypto coins.

ArrogantPeacock

member

Activity: 154

Merit: 10

Yes, it's the best strategy actually you can implement, and it makes sense. BTC especially has been in the market for about eight years, it has been through a lot and it has proven itself to be a risk worthy investment. The problem with many other coins (newer one's) is that you don't know whether they will survive in the long term, so even though you might have better returns investing in them, you are running a higher risk of not getting any return at all. That's why it makes sense to invest in BTC and ETH (I'd recommend you ETH over BTC). These coins are the most capitalized, which means most of the money in the blockchain sector is invested in BTC and ETH, and that means that people trust these coins enough to put their money in it, so you should consider doing the same.

laluna24

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Activity: 511

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Quote from: tukangkopi on November 15, 2017, 06:01:39 AM

Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

I think the most safe crypto currency is bitcoin because the price is always up every year since 2016 so you do not have to worry, besides btc is not safe. cmiiw

Money in bank definitely would give you small percentage of profit. But its nice if you could invest also in cryptocurrency like btc, eth, waves and other altcoins. As btc moves is usual increasing in these investment will give totally a good profit.

tukangkopi

sr. member

Activity: 350

Merit: 250

Quote from: lestat2k7 on November 14, 2017, 06:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

I think the most safe crypto currency is bitcoin because the price is always up every year since 2016 so you do not have to worry, besides btc is not safe. cmiiw

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