Is it smart to keep all or almost all savings in prime cryptos like BTC, ETH? - page 4.

lestat2k7

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Quote from: danielcansil on November 14, 2017, 11:13:08 PM

I think you are fine with saving bitcoin and ethereum, but why you dont think you should invest a small percentage of money into some altcoins like bch or dash and waves, these altcoins are rising so they can bring you many profit if you diverse your coins.

I want to do that too using a fraction of my prime cyptos, i.e. 10-20%.

danielcansil

member

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I think you are fine with saving bitcoin and ethereum, but why you dont think you should invest a small percentage of money into some altcoins like bch or dash and waves, these altcoins are rising so they can bring you many profit if you diverse your coins.

Sithara007

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Leading Crypto Sports Betting & Casino Platform

I wouldn't say that it is going to be a very smart move. Because from what I have noticed, whenever the exchange rates of Bitcoin goes down, the prices of the alts also crashes hard. And the price of Bitcoin can fluctuate by as much as 10% in a single day. If you can afford that sort of losses, then there is nothing wrong in keeping your wealth in crypto. If not, then please diversify your portfolio.

ajibut

newbie

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I think things like this are not good enough to make a certainty that must be done, but if if this could harm the users btc / eth and so on. do you think this is a necessity not but because it has provisions given by a project then it must be done.

bamboylee

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I think there are still some risks associated in keeping all your assets in bitcoin or cryptos. That is why I would limit my crypto investments within 30% of my money. I would put some on other investments like real estates and stocks. That way, I can limit my risk and if cryptos fail (hope not) I have other investments on my hand and I do not lose all my money.

cindygirl

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Quote from: lestat2k7 on November 14, 2017, 05:09:32 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.

The_Dark_Knight

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Quote from: lestat2k7 on November 14, 2017, 05:09:32 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.

You must remember a basic rule, the greater the rewards the greater the risks, if you have your money in your bank you are not going to get a lot of money in return, but if you invest most in bitcoin then your returns are going to be way bigger than anything a bank could give to you but the risk is that bitcoin also goes down in value and when that happens many people panic, so you could lose a significant amount of money.

jmigdlc99

sr. member

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I'd say that at this point in time, it is generally safe to keep your money in crypto.

The potential for growth in the cryptocurrency industry is massive and almost everything is on a steady uptrend. Remember that it is easier to win in a market that is skewed upwards. By investing in "prime" cryptos such as BTC or ETH, you also reduce the risk of extremely volatile price movements which can also protect you in case the market crashes (you will have time to sell)

g4r1n1m

full member

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its good to split savings
or keep it in $ at exchanges , and rebuy with this $ at dips

turbulence

sr. member

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Quote from: javadsalehi on November 14, 2017, 06:55:06 PM

Quote from: turbulence on November 14, 2017, 06:45:01 PM

you don't see any drawback/risk in buying a practically useless coin at 6500$ per?

Although Bitcoin price has reached such high amount. It is safer than any other coin in long-term. Demand is still high and the price is rising.

Yes, but why is the price so high? Does it make sense that it rockets in price while at the same time it becomes more and more unusable and more and more clear that no near-term solution to the problem exists? To me this seems like an exceptionally dangerous time to invest in BTC

chrismartin

member

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Try to have some research, and if your research seems good to put savings in btc and eth, just go on. And for me, putting savings in thier is good because right now. Prices are all rising

HansWermhat

newbie

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I would never keep all of my saving sin crypto, gotta have a balance of crypto and fiat. Crypto is just so volatile, you never know what it could do.

javadsalehi

member

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Quote from: turbulence on November 14, 2017, 06:45:01 PM

you don't see any drawback/risk in buying a practically useless coin at 6500$ per?

Although Bitcoin price has reached such high amount. It is safer than any other coin in long-term. Demand is still high and the price is rising.

lestat2k7

newbie

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Merit: 0

Yes but BTC has 160+ billion backing. This is not a joke money so I don't think it will go away. That's why I said it seems better than to keep in bank. Also it seems like there is a huge divide here among opinions.

spngebob

sr. member

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Quote from: lestat2k7 on November 14, 2017, 05:09:32 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.

It is very risky, never invest all your savings.

Quote from: lestat2k7 on November 14, 2017, 05:09:32 PM

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

You don't know what can happen in next few years, maybe bitcoin will drop to 1000$ and then you will lose your savings - or maybe it will jump to $50K and you will make money - no one can know that. Too risky if you ask me.

turbulence

sr. member

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you don't see any drawback/risk in buying a practically useless coin at 6500$ per?

iqlimasyadiqa

legendary

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Nothing wrong we do it because then we open the opportunity to be able to gain profit. the risk that we have is quite large because we could have a loss when the price of Cryptocurrencies decreased. I as a traders of course have to do the analysis and strategy in order to get the best results, I always see how the price of Bitcoin move because I know that when the price of Bitcoin moves then all prices Cryptocurrencies also change including Etherum. This is risky but when we do not dare to take risks then we can not open opportunities, any risk must exist in a business. the opportunity to take action to buy Bitcoin is a fantastic advantage !!! when we choose the right time to buy and sell Bitcoin then we can get tremendous profits, but when we make the wrong decision in determining the time to sell and buy then we could lose some investment / money we have. (just calm down because this will not eliminate all the money we have).

ilic

hero member

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I keep about 80-90% of my crypto in DASH and ETH.

However I am now trying to increase my BTC and BCH holdings just incas.e

purenarcotic

newbie

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No, do not do that.
The high potential reward make cryptos an attractive option, but the risk is high too.
Diversify your portfolio with instruments of varied risk profiles - bonds, stocks, crypto etc. Choose the split between the instruments according to your risk appetite.
I suggest read about portfolio and risk management, and then take a call.

nitehawk

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Worldcore - Banking for the Future

Yes, I would say that is the safest bet as those two coins are not going anywhere. No matter how much due diligence you do any of these new alt-coins could turn out to be scams, as many of them specialize in deceiving people. Even with the profits made from ICOs these past 6 months, keeping my earnings in BTC would have probably outperformed those ICOs.

Topic: Is it smart to keep all or almost all savings in prime cryptos like BTC, ETH? - page 4. (Read 1244 times)