Saving for a House! - page 10. | Bitcointalksearch.org

Webetcoins

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Quote from: barabarian1 on November 13, 2019, 03:43:05 AM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think if you keep your money on a stable coin then the same as you save fiat money the value will not increase. it's better if you dare risk you using your money to buy bitcoin. or if you are afraid of losing money you can use some of your money. for example you can save as much as $ 30,000 in a bank and then the remaining $ 10,000 you can buy bitcoin. and I think now is the right time to buy before bitcoin defends two by 2020. if you are lucky your money will multiply when bitcoin bull run. but you also have to be ready when this bitcoin dump is a risk that we have to face. but I'm optimistic that bitcoin can pump again.

Stable coins do not bring any profit because of their constant value. In order to make money from an investment, there must be some chance of it to gain value in future. Investing in stablecoins is like investing in gold. Even in the most optimal scenario, the price gain will not be sufficient for huge returns. Bitcoin is the right choice according to my opinion too. This coin can make anyone’s dream a reality.

alan2here

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Quote from: Blackdeath on November 13, 2019, 01:46:18 PM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

I think if you have made a good profit, you should spend 5% savings because this is a very safe way for all investors. I usually convert to USDT and hold for a long time to be able to use this money in the near future because the stable coin never changes in value. Each person has different saving strategies and holding some top coins is also a very promising option.

Of course, it is necessary to be clear in the division of capital and always follow the original plan because if you are not careful, you will lose your savings when investing.

henmark

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

Since you have a time frame for it that you need, honestly, stable coin would be the best option, so that you don’t have to deal with volatility because if you store it in other coins, you could have a drop on the money before then. Stable coin would not allow you to have a drop in the amount that you keep in there, but you should know that with stable coin, you can't get any addition to your coin, because the value of stable coin does not decrease nor increase.

If you want to have an increase on the coin, then I will advise you should invest in bitcoin, just that you will not tie any time to it, so you should just put it in there for the sake of removing it anytime that bitcoin shoots up in price, which could be today, tomorrow within that 6 months and it could even be higher than the 6 months.

josephdd1

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Well if you are storing it in stablecoin, then it won't grow in value unless you are planning on invest that stablecoin in one of the myriad DeFi projects out there.

Maybe you could convert it to stablecoin then lock it up in Nexo for an 8-10% yearly interest rate? Look into the risks before doing so though.

xiboothrezi

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do not use money that has been set aside for large interests such as buying a home. promising profits are great, you have the opportunity, otherwise, the risk of loss is also high. are you ready to lose that money? are you ready if you fail to buy a house? Don't risk what you can't afford to lose. But if you are sure and can overcome all the risks, then please try. If I'm not going to risk it, it's better to invest in gold or something.

satgoldan

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Quote from: Blackdeath on November 13, 2019, 01:46:18 PM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

And why transfer all your savings to USDT because it is a stable coin that always costs $ 1, isn’t it easier to withdraw everything from the Internet and put it under your pillow. I think everyone knows that the owner of the USDT Bitfinex coin and the American government always have questions to the exchange about this coin due to some violations of the laws, if they can destroy this coin, then your savings will turn into dust. If you already store in cryptocurrency, then in BTC or TOP altcoins.

Blackdeath

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

zhengqi

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If you have extra money now, then you should invest it in fundamental coins such as bitcoin or ether. But if you are not a beginner and have a good knowledge of investing, it may be worth taking a risk and invest in something less well-known, but quite promising.

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think that was good for something good coin on you will invest but the best option for a less risky thing is to invest a good coin for future like bitcoin that we'd know it was the best coin back the until now.

barnes13

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Quote from: tracyhayley on November 12, 2019, 05:13:40 PM

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

You're absolutely right! If you are ready to lose everything to get a big profit, you can start investing in crypto. But you have to really think carefully about this. Then, ff you want to go through a safe path, then saving in stable coins will be highly recommended. Another option is you can also invest through deposits in banks. They provide a fairly high interest at this time.

crisanto01

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Quote from: pobeditelvezde on November 13, 2019, 10:50:18 AM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

From my point of view it need to be an extremely desperate person to use for investing such important passives like a house. I consider that neither a house nor other important assets (the passives) must not be used for investing purposes albeit sometimes people hazard a house. Let us clarify the situation. Suppose, you have lost a house and what will you do? Particularly, try to answer a question for yourself where will you live? I consider that it is better to have less than not to have anything at all.

Agree with you, let's not gamble our precious house but rather we should be motivated and be inspired in investing for having our own dream house, let's just invest the money that we can afford to lose, let's not be too greedy to be able that we are taking risk even our own house and our car, this is not the way investing should be as you will be in desperate once you lose it.

pobeditelvezde

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

From my point of view it need to be an extremely desperate person to use for investing such important passives like a house. I consider that neither a house nor other important assets (the passives) must not be used for investing purposes albeit sometimes people hazard a house. Let us clarify the situation. Suppose, you have lost a house and what will you do? Particularly, try to answer a question for yourself where will you live? I consider that it is better to have less than not to have anything at all.

barabarian1

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

I think if you keep your money on a stable coin then the same as you save fiat money the value will not increase. it's better if you dare risk you using your money to buy bitcoin. or if you are afraid of losing money you can use some of your money. for example you can save as much as $ 30,000 in a bank and then the remaining $ 10,000 you can buy bitcoin. and I think now is the right time to buy before bitcoin defends two by 2020. if you are lucky your money will multiply when bitcoin bull run. but you also have to be ready when this bitcoin dump is a risk that we have to face. but I'm optimistic that bitcoin can pump again.

tambok

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Quote from: NewRanger on November 13, 2019, 02:21:08 AM

Quote from: Lexurdania on November 13, 2019, 01:05:45 AM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

only imaginer person that will do this. Put money only in one basket will make us be poor man if someday something wrong happen to our Investment. Jts not wise decision switching 100% asset from property to cryptocurrency ,meanwhile property has less risk if compared with crypto market. In this market we could totally loss,but in property or house its price "always rise ,and there is no standard price as long as demand still bigger than supply.

For my almost 3 years in crypto industry, I can say that everyday is a learning period for me, I went to a mindset wherein during my early years, I am cashing out immediately the funds I have, then those coins becomes more than times 4 of the price I cashed out, so I told myself not to cash out immediately and wait and hold, then when I hold it didn't meet my expectation, so lesson learned is when I already have profit even a little, don't need to wait long for it, it is better than risking expecting more then ended losing more.

Dau1coduot

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Coins and stable coins are not good idea i think. Just keep cash or you should buy gold. 6 months is not long time, cash or gold will keep its value.

NewRanger

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Quote from: Lexurdania on November 13, 2019, 01:05:45 AM

Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

only imaginer person that will do this. Put money only in one basket will make us be poor man if someday something wrong happen to our Investment. Jts not wise decision switching 100% asset from property to cryptocurrency ,meanwhile property has less risk if compared with crypto market. In this market we could totally loss,but in property or house its price "always rise ,and there is no standard price as long as demand still bigger than supply.

Colt81

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

Putting your 40k savings for a house down payment in a cryptocurrency could be a risk because your funds would decreased and increased, that is why you should be putting your funds in coin that has a potential to give you a huge profit. If you will be putting your funds in a stable coin like USDT, it could have a lesser risk because there are less possibilities for your funds to have a low value.

Lexurdania

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Quote from: Kinkyads on November 03, 2019, 02:04:41 PM

We are saving for a house down payment of 40K. I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months. Is a stable coin the best option? Thoughts?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

Pearls Before Swine

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This idea doesn't even make any sense, because what realtor is going to accept altcoins as payment for a house? You can barely buy real estate with bitcoin, much less any other cryptocurrency.

And Op, everyone here is telling you this is a risky proposition and I'll go even further and say it's a stupid plan. If you're saving for a house, you ought to save cash and *not* buy altcoins unless you never want to own a home. The chance that you could lose your savings is too great to even think about trying this. You might as well go to your local casino and play roulette instead.

And as was mentioned, banks are going to be a part of any real estate deal and you won't be able to get away with a completely cashless transaction when buying a house. I don't know what country you're living in, but that's generally the case everywhere.

sends1

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I think that's a very large amount. profits in investing in Stablecoin will also not be much, because it usually only goes up a little. If you want to get more profit, invest in other altcoins like ethereum, ripple, bitcoin etc. You can also see a list of the top coins in coin marketcap

Topic: Saving for a House! - page 10. (Read 2373 times)