Saving for a House! - page 13. | Bitcointalksearch.org

kaya11

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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?

That is a lot of money for me I think, if you are really planning to put it all in crypto please bear in mind that your money could end up worst thant what you are fearing when putting it on a bank, it could be gone in an instant. Aside from alts, you better leave for btc i guess, that is a wise thing to do I think.

bonyaserg

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Personally, I think that holding a cryptocurrency is very profitable and convenient. Since the crypt does not stand still, it can increase every day. And accordingly, income will increase. And now is the time of new technologies where cryptocurrency plays an important role in the crypto industry. And accordingly, the price will rise due to greater demand.

Febo

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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?

Buy gold if you hate banks or cash. Stablecoins are same as fiat just worse. Bitcoin is volatile if you plan to keep it in Bitcoin for only half year. Gold is best.

landoffaucets

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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?

You are going to buy house in next 6 months? Then buy Bitcoin now, after 6 months Bitcoin halving come and I am 100% sure that price will be much higher than nowadays.
Stable coin will not bring you any profit. Cry

vicknick

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If you want to keep your money safe I recommend keeping them in the bank(taking into account that your bank deposit is insured by authorities). Of course that fiat money is exposed to inflation, but so are crypto stable coins like DAI which is pegged 1:1 with the USD and you have some risk that sometimes happen with the DAI infrastructure. As you can see in their chart it had some pretty crazy wicks. Inflation won't affect your holdings too much as you're planning to hold them just for 6 months as you said.

calandra78

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Quote from: Edraket31 on November 10, 2019, 08:30:50 AM

Quote from: Wildwest on November 10, 2019, 07:50:37 AM

This is a thought that is not good and risky, because saving money in crypto has a risk we will be able to lose all of the money if for investment you want to buy property save in the bank because in crypto there will also be banks too, if you want to also invest in crypto select a good coin and safe like bitcoin and ethereum

It is wise not to put all our money in cryptocurrency , it is still best to have our savings and to have our own traditional business and to have investment such as stock market or to a real estate. It is still best to allot your money and spend it wisely, don't go all in crypto as it is too risky, been to that, gave all in and nothing in return, ended up nothing , so I learned my lessons now.

but you can hear that some crazy people dare to sell their assets when they see the market go down and invest in bitcoin. several people in this forum shared their experiences. but either the truth or it is just nonsense. If that happens, there is also a possibility that their speculation with confidence in crypto is very high. because the risk of investing by selling our assets in the real world is certainly very unfortunate.

samcrypto

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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 did this, i put my fund on my wedding in cryptomarket and made an easy profit with this one. If you want to earn more the I only suggest to put that money on bitcoin and ethereum, this is my only choice when it comes to short term investing. Go take the risk mate, it will be worth it just stay away from any shitcoins and always go on top.

tabas

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I've seen one stable coin that went down lower than $1, I forgot the name of it but there should be someone that also knows what I'm talking about. If it's for the downpayment of your house, I wouldn't place it on stable coins, since you don't have any plan of keeping it to bitcoin, much better to put it on a savings bank.

leea-1334

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Keeping savings all in one place is a bad idea. Very, very bad idea. Why not keep it in the bank, what is this old judgment you are talking about? Most banks are insured by government so keeping it there is actually safe.

Or buy a savings insurance. Or buy an insurance plan, that you can cancel contract when you want to buy the house.

I love bitcoin and stablecoin but so bad idea to keep house money in it with no insurance!

Edraket31

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Quote from: Wildwest on November 10, 2019, 07:50:37 AM

This is a thought that is not good and risky, because saving money in crypto has a risk we will be able to lose all of the money if for investment you want to buy property save in the bank because in crypto there will also be banks too, if you want to also invest in crypto select a good coin and safe like bitcoin and ethereum

It is wise not to put all our money in cryptocurrency , it is still best to have our savings and to have our own traditional business and to have investment such as stock market or to a real estate. It is still best to allot your money and spend it wisely, don't go all in crypto as it is too risky, been to that, gave all in and nothing in return, ended up nothing , so I learned my lessons now.

AliMan

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Quote from: Wildwest on November 10, 2019, 07:50:37 AM

This is a thought that is not good and risky, because saving money in crypto has a risk we will be able to lose all of the money if for investment you want to buy property save in the bank because in crypto there will also be banks too, if you want to also invest in crypto select a good coin and safe like bitcoin and ethereum

Selecting the best preference that we wanted to we should make sure that we're choosing the right asset. So that when time comes and when its value reaches the maturity stage, we will be safe from risk on our holdings. If we have plans like property, I think long term is good enough to generate enough profit which will be saved for your future plans.

Wildwest

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This is a thought that is not good and risky, because saving money in crypto has a risk we will be able to lose all of the money if for investment you want to buy property save in the bank because in crypto there will also be banks too, if you want to also invest in crypto select a good coin and safe like bitcoin and ethereum

zero714309

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Cryptocurrency very risky. Before you put all of your money better to calculate anything. Its not only about profit or what but even you choose 10 top coinmafketcap it not mean your money is safe.

BigBoom3599

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Quote from: gwaposakon on November 10, 2019, 07:12:54 AM

In my opinion, it would be a bad idea to invest money intended for an important purpose in crypto. Promising crypto might be, its market is not that stable and you might end up losing your money. I would suggest you invest only money that you can afford to lose. This way you will not be pressured to sell for a loss if the price sways or fluctuates.

Exactly. Rule #1 of crypto has always been: "don't invest more than you can afford to lose". Crypto is a massively risky investment, profit is just as guaranteed as losses are. Don't think that crypto will give you free profits, because you WILL be dissapointed.

Don't overinvest otherwise you will lose sleep, you will be looking at the charts every day, you will be stressed, and most importantly you will make bad decisions based on emotions/stress and lose money because of it.

LouVandetta

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It's very risky if you want to invest your $40k, especially if the money is for your future house.
We never know the future of cryptocurrency. Eventho we could say some coin/alts are really profitable , it's only speculation. I really think storing your money in a trusted bank is the best option. But if you really want them to grow in cryptocurrency, I hope you've planned this very well. You could try the top 10 alts from cmc. Or even bitcoin. But beware, it doesn't mean you'll get profit since no one knows what the future holds.

gwaposakon

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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 would be a bad idea to invest money intended for an important purpose in crypto. Promising crypto might be, its market is not that stable and you might end up losing your money. I would suggest you invest only money that you can afford to lose. This way you will not be pressured to sell for a loss if the price sways or fluctuates.

Eclipse26

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It's a good thing that you're saving for your house but we never know if it'll grow after 6 months. Bitcoin is a good choice but risky as well since it is volatile. As for stable coins, it's safer but yeah stable. So rather than choosing one, I think it's much safer to store it on both. But personally, if I were you I will have it fiat but since you don't want it to put on the bank, it's your choice after all.

ChrisPop

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Quote from: Kinkyads on November 03, 2019, 03:04:41 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?

If you want to keep your money safe I recommend keeping them in the bank(taking into account that your bank deposit is insured by authorities). Of course that fiat money is exposed to inflation, but so are crypto stable coins like DAI which is pegged 1:1 with the USD and you have some risk that sometimes happen with the DAI infrastructure. As you can see in their chart it had some pretty crazy wicks. Inflation won't affect your holdings too much as you're planning to hold them just for 6 months as you said.

#Darren

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Yes, if you wish to hold a solid amount of money, without any risks, then invest in a stable coin. However, it is going to be pretty hard to find a solid one, anyway stay aside from Tether coin, because you will lose your money after 6 months.

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if you are in need of that much money then I suggest you do not invest in cryptocurrency that does not have a good development or you can say do not save in altcoin, you better save it in the form of bitcoin because if you save in the form of bitcoin you can get a lot of profit from it and bitcoin also has less supply, imagine if the supply is maximal it will be difficult to get bitcoin then the price can be very expensive because bitcoin has a lot of demand.

Topic: Saving for a House! - page 13. (Read 2354 times)