Stablecoin is one of the best options in my opinion but I wouldn't encourage you to keep everything in one stablecoin or even fiat.
You could spilt the funds into two or three, have two parts in two stablecoin coins (decentralized and centralized stablecoins) and the remaining part in your bank account. Having all your funds in a basket is quite risky especially in your kind of situation.
Topic: Saving for a House! - page 14. (Read 2354 times)
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?
There is no guarantee of a stable coin in the crypto world, but if what you are referring to is a coin whose level of price change does not occur in a short time, it might be there. for the value of 40k I think it will be good if you buy etherum. indeed the value of etherum can go up and down, but if you look at the ups and downs of etherum lately it still stands at $ 250. I think that's good for the next 6 months. 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?
At some point good, it will just either go high or down low. I wanna take bank into consideration of storing your money because there are no mistakes nor flaws existing in their end, so, if they take your money away it just only your fault because there are no mistakes in the system while on the other hand storing it into crypto is just like go high or get gone depending on the market condition. Well the best option for you somehow if you don't want to take the risk is storing it into stable coins or bank you just need to be responsible and everything will be okay otherwise store it into crypto.
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?
are you out of your mind are you serious? Did you know how very risky putting money in crypto currency.? Seriously mate i suggest stop assuming because it's very unpredictable. In fact on this current situation of market you cannot find some certain investments especially for long run because mostly investors nowadays are very greedy wherein you will end up losing money only if you do that stupid decision. Just keep it to avoid regrets. And find another opportunity instead where you can earn money and then use it to invest not your savings because it's like you want to end your life so fast. Lol 
Why store it on a stable coin for 6 months when you can invest it and buy btc. In 6 months due there will be a bull run coming up. If you're lucky enough before 6months btc could pump for more than 10%. That percentage is good enough for the $40,000 btc.
Enough confidence is needed to take this kind of action. Risk inside crypto is very high so better for OP to analyze and take a lots of researchbefore making any decision of investing the said amount of money especially that he's allocating the said money for his house.
Bitcoin though have a good anticipation, incoming halving will impact the crypto industry needs to learn everything about it.
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 have a little doubt about this? " i want to store it in crypto as we grow it over the next 6 months" I think 40K is not safe in crypto since you didn't know what could be happen during that period its very risky to gamble since that money was intended for down payment for a house! and if you want to grow it, stablecoin is not the good option since stablecoin will not fluctuate much its just stay in its value. But for other purpose just to store it in decentralized way, stablecoin is suitable for that but don't expect any high returns.
I do remember one guy who bought 2 bitcoin and kept it in his flash drive. Every details is there.
And then, he buried it somewhere in his garden.
That was 2 years ago I think or maybe more but not above 3 years.
If I remember it correctly he bought those 2 bitcoins with a price of $3000 which is $1500 a piece.
Yeah, stay with stable coins and that will be safe, the value of it will never move although the risk there is when it is suddenly gone.
With bitcoin though, there is a larger risk but could be profitable in the long run.
And then, he buried it somewhere in his garden.
That was 2 years ago I think or maybe more but not above 3 years.
If I remember it correctly he bought those 2 bitcoins with a price of $3000 which is $1500 a piece.
Yeah, stay with stable coins and that will be safe, the value of it will never move although the risk there is when it is suddenly gone.
With bitcoin though, there is a larger risk but could be profitable in the long run.
Why store it on a stable coin for 6 months when you can invest it and buy btc. In 6 months due there will be a bull run coming up. If you're lucky enough before 6months btc could pump for more than 10%. That percentage is good enough for the $40,000 btc.
Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
In this case, I agree that the money should be saved in the banks instead. At least you have an insurance for it. In crypto, you have none. This is a perfect example of a money that you cannot afford to lose. This is your own and your family's house that is at stake here. You should not risk it for crypto. If you really want to enter into crypto, don't risk everything. Take a little portion of it and invest in top existing coins.
Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
If you are dedicated the coin you choose you must take it even the sacrifice it will come up in the future. Also, we can't deny the fact that some of us will assure everything though its not sure but some of it will try the risk in which they believe that someday that will have a great income the future.
Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.
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?
Umm, when you take it out from crypto stablecoins to fiat to pay that house, isn't your fear of bank confiscating it even more plausible? At least when you save it normally, banks are seeing that your money comes from legit source.
I have a fear that when i cash out my crypto, they will rule that as money came from drug deals etc, because some banks want to fight permissionless cryptos with any fud they got.
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?
Umm, when you take it out from crypto stablecoins to fiat to pay that house, isn't your fear of bank confiscating it even more plausible? At least when you save it normally, banks are seeing that your money comes from legit source.
I have a fear that when i cash out my crypto, they will rule that as money came from drug deals etc, because some banks want to fight permissionless cryptos with any fud they got.
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 see you are a newbie and you don't know how profitable bitcoin is, i suggest you do some research on bitcoin to understand what its all about and how life changing the technology really is, i suggest you invest some part of that money in bitcoin and swap the rest to USDT stable currency, you won't regret in the end 
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?
As my suggestion, don't save money in crypto, because the stability of the price of crypto coins is very difficult for us to predict. Even no one can guarantee there will be profits for the next 6 months, so you still better save money in a savings bank instead of in crypto, because in the bank there is no potential for loss even though there is no profit, while in crypto the potential for loss is very large, even though the profit is also large. 
Storing our money in stable coins is the same as storing our money in fiat. because there are no fluctuations that can provide benefits. if you want your money to grow try to invest in the top 20 CMC coins like bitcoin, ripple, BNB and Litecoin. those are some coins that in my opinion are quite potential. and I think now is the right time to buy before bitcoin halves. after bitcoin halves many say bitcoin will be bullish. when bitcoin is bull the majority of altcoin will also pump.
If you don't want big risks, a stable coin is good for saving your savings. until you need it and withdraw it again. but if you want to grow, I would recommend to save on Bitcoin. I think in the next 6 months, your savings will grow 5% -10%. but you also have to take risks for losses when the price of bitcoin falls from your purchase price. so your choice is the best. I just gave an explanation to choose.
in the next 6 months, bitcoin will be halving. in the last halving bitcoin price is always increasing so muchso, it would get more profit than 5-10% as you said. it possible can be 20-100%
but ofc the history isnt always repeat itself. there is always risk behind bcz this is cryptocurrency
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?
What's the difference between a stablecoin and the bank? If they both don't deprecate in value, stable and such, I think bank is much more secured than these stablecoins. Not to mention the extra step of going through exchanges that aren't totally secure and does sometimes screw up. $40K is quite a huge sum of money and I suggest to go with banks first as they're much safer and you have insurance when there's something wrong happened to your funds. 
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?
Most volatile asset cam found in cryptocurrency. There is no room for stability here since it can goes down and rise up fastly as the bank could be. 6 months? I hope your investment would be ruined because cryptocurrency fluctuates too much. If you want to invest in crypto, use only your excessive fund so that you will not blame yourself if it becomes shit.
Yeah even people prediction with bitcoin and cryptocurrency are mostly positive about next year, it's still cryptocurrency that can make a surprice for the investors. So, it's really not recommended to invest a savings or even just store the money in cryptocurrency because the price could be surpriced us sometimes, it could be pumped or dumped. And If you have a courage to do that, if the price pump you will be rich and you still got the house and extra money. So, it depends on your decision but it has high risk
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?
Most volatile asset cam found in cryptocurrency. There is no room for stability here since it can goes down and rise up fastly as the bank could be. 6 months? I hope your investment would be ruined because cryptocurrency fluctuates too much. If you want to invest in crypto, use only your excessive fund so that you will not blame yourself if it becomes shit.
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