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 your case absolutely not. If you save up paper money you will need to deal with the inflation, but if you saving up money for example in a bank where it carries interest it just keeps the money's worth. but If you are still curious about cryptocurrencies I highly recommend you to invest somewhere from 10–20 percent of your savings. I think throwing all your eggs in one basket can indeed yield high returns if that market sees a boom. However, when a bust comes, and they always do, you could lose everything, EVEN a stable con is theoretical stable and there is no guarantee it remains stable.
Imagine that you had asked the question in December 2017 at peak Bitcoin and you put all in Bitcoin already. Your $40,000 would now be worth something around $20,000 after being as low as $9,000. If you can’t stomach losing 50 percent of your investment, you shouldn’t be investing it all in cryptocurrency. so never throw all your eggs in one basket. $10,000 in stocks, $10,000 in crypto, $10,000 in bank and etc. That way, if one market crashes, you didn't just lose your all savings.
