Saving for a House! - page 7. | Bitcointalksearch.org

horrifiedx1

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Quote from: lighpulsar07 on November 20, 2019, 01:47:50 AM

Quote from: Xxmodded on November 19, 2019, 11:13:54 PM

Quote from: Vitalicus on November 19, 2019, 10:52:55 PM

Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

I agree with you. The best way is to keep fiat in the bank and limit crypto savings because the constant volatility of the market will make you very difficult. When I was profitable I often switched to Fiat and spent more than 10% of my profits on bank deposits because this is the only place you can trust at this time. Of course, save money to buy a house, you need to have great patience.

If you buy correct altcoin for investing maybe you can get profit, how come if choose bad altcoin and you have lost your house, we don't know how to prediction with bitcoin and altcoin price at the future, better looking other your source income for investing with bitcoin and altcoin because I think is best solution how to keep your house safety from investing.

He wants to save his money in order to buy a house right? so, if he was in good mind, he wouldn't put all of his money in altcoins or it will be a hassle if he wants to convert his hundred thousand dollars worth of altcoins since banks will freeze your account and investigate it and also the cryptocurrency economy isn't stable it is very volatile than other investment option out there.

a good decision if he wants to diversify his assets to buy a house, however investing in one area of investment will be more risky, especially investing in cryptocurrency that has high fluctuations. but it is different from property which has a small risk and its value tends to increase

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Quote from: lighpulsar07 on November 20, 2019, 01:47:50 AM

Quote from: Xxmodded on November 19, 2019, 11:13:54 PM

Quote from: Vitalicus on November 19, 2019, 10:52:55 PM

Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

I agree with you. The best way is to keep fiat in the bank and limit crypto savings because the constant volatility of the market will make you very difficult. When I was profitable I often switched to Fiat and spent more than 10% of my profits on bank deposits because this is the only place you can trust at this time. Of course, save money to buy a house, you need to have great patience.

If you buy correct altcoin for investing maybe you can get profit, how come if choose bad altcoin and you have lost your house, we don't know how to prediction with bitcoin and altcoin price at the future, better looking other your source income for investing with bitcoin and altcoin because I think is best solution how to keep your house safety from investing.

He wants to save his money in order to buy a house right? so, if he was in good mind, he wouldn't put all of his money in altcoins or it will be a hassle if he wants to convert his hundred thousand dollars worth of altcoins since banks will freeze your account and investigate it and also the cryptocurrency economy isn't stable it is very volatile than other investment option out there.

very wise !, investing to buy a house is very good, I myself like that way, but if you invest in altcoin it's also good,
because altcoin season hasn't come until now, and that's the reason I recommend it to you

lighpulsar07

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Quote from: Xxmodded on November 19, 2019, 11:13:54 PM

Quote from: Vitalicus on November 19, 2019, 10:52:55 PM

Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

I agree with you. The best way is to keep fiat in the bank and limit crypto savings because the constant volatility of the market will make you very difficult. When I was profitable I often switched to Fiat and spent more than 10% of my profits on bank deposits because this is the only place you can trust at this time. Of course, save money to buy a house, you need to have great patience.

If you buy correct altcoin for investing maybe you can get profit, how come if choose bad altcoin and you have lost your house, we don't know how to prediction with bitcoin and altcoin price at the future, better looking other your source income for investing with bitcoin and altcoin because I think is best solution how to keep your house safety from investing.

He wants to save his money in order to buy a house right? so, if he was in good mind, he wouldn't put all of his money in altcoins or it will be a hassle if he wants to convert his hundred thousand dollars worth of altcoins since banks will freeze your account and investigate it and also the cryptocurrency economy isn't stable it is very volatile than other investment option out there.

Xxmodded

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Quote from: Vitalicus on November 19, 2019, 10:52:55 PM

Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

I agree with you. The best way is to keep fiat in the bank and limit crypto savings because the constant volatility of the market will make you very difficult. When I was profitable I often switched to Fiat and spent more than 10% of my profits on bank deposits because this is the only place you can trust at this time. Of course, save money to buy a house, you need to have great patience.

If you buy correct altcoin for investing maybe you can get profit, how come if choose bad altcoin and you have lost your house, we don't know how to prediction with bitcoin and altcoin price at the future, better looking other your source income for investing with bitcoin and altcoin because I think is best solution how to keep your house safety from investing.

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Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

I agree with you. The best way is to keep fiat in the bank and limit crypto savings because the constant volatility of the market will make you very difficult. When I was profitable I often switched to Fiat and spent more than 10% of my profits on bank deposits because this is the only place you can trust at this time. Of course, save money to buy a house, you need to have great patience.

goaldigger

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Quote from: nanaimogold on November 18, 2019, 11:43:01 AM

Quote from: Christinebeauty on November 09, 2019, 11:41:26 PM

Its a good idea though. But it would have been better if you divide the total funds in a ratio of say 8:2 so that you can save about 80% in stable coins while keeping de remaining 20% in a volatile coin, probably BTC so that your funds can appreciate small by the time you are withdrawing your funds

I would advice you to put it into bitcoin because of its foreseeable longterm profit but sincerely speaking the investment window of 6months which you gave is quite short. 6-8 months ago and bitcoin was trading under $4k. The market is too volatile to say the price of btc in the next 6months. You might have to wait a bit longer for gains

Expecting for a big rewards needs to take bigger risk, and holding for a 6 months is still not guaranteed to make money on that. OP have a better plan on this, but the market can't tell if he will earn or not, or anyone here can be sure about this one and yes the volatility is one of bigger risk. If you invest it on smaller coins then expect to take money longer, OP should think more before to proceed with his plan and consider all the pros and cons or else his money will be wasted and his dream house might be delay because he lose money.

velive08

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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?

if you only rely on stable coins, maybe you only get what you saved at the beginning. but it might be necessary to try on one of the types of coins that have the potential and can increase profits in the future some time such as ethereum or bitcoin. so even if you are in crypto you will still get profit from your savings

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If youre gonna invest on cryptocurrency then stablecoin isn't the best coin to invest with cause there's not a lot of good movement in these type of coins. Better invest with btc, eth or major projects that could increase the price more in the future. I hate to say it, but putting it on stable coin isnt worth it at all used it only to neutralized the fund when the major alts have been increase by fold.

zulfi125

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I don't recommend to invest in all funds in one stablecoin if you want to invest in crypto than you should diversify your investment in different coins like ETH ,XRP, TRON, XLM.

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Quote from: nanaimogold on November 18, 2019, 11:43:01 AM

Quote from: Christinebeauty on November 09, 2019, 11:41:26 PM

Its a good idea though. But it would have been better if you divide the total funds in a ratio of say 8:2 so that you can save about 80% in stable coins while keeping de remaining 20% in a volatile coin, probably BTC so that your funds can appreciate small by the time you are withdrawing your funds

I would advice you to put it into bitcoin because of its foreseeable longterm profit but sincerely speaking the investment window of 6months which you gave is quite short. 6-8 months ago and bitcoin was trading under $4k. The market is too volatile to say the price of btc in the next 6months. You might have to wait a bit longer for gains

For swing investment, promising altcoins will give a better return on investment compared to the top cryptocurrencies. I also advise waiting for the longer timeframes before putting all eggs in one basket. Diversifying between the top altcoins and thinking about to harvest the profit is a better thinking method.

armanda90

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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?

You can deposit in stable coin and this is the most correct way in my opinion.Because if you deposit in Bitcoin will have a high risk,although many people to say next year bitcoin halving and prices will be bull run,is not a refference to ensure our funds are safe.We cannot predict the future of bitcoin price and maybe we will get a loss.

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Quote from: tonyvo2017 on November 16, 2019, 02:10:34 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?

6 months is a good time for you to buy bitcoins from now on. The Bitcoin Halving event will take place in Q2 of 2020 and it is also the time when Bitcoin is growing strongly.
$ 8k5 is still a fairly cheap price right now and it cannot be reduced any more as buying power is now very strong. Try your luck. Wink

I do not know what market you were watching but there was no one buying bitcoin at that price which is why the price is going down now, it is better to wait for bitcoin to show us how low it will go before buying any of it, once bitcoin reaches the bottom then you can buy as much bitcoin as you want because I really think that we are getting ready for another bull market, that doesn't necessarily mean that the bull market will appear immediately, maybe it will take a few months or years but whatever the case you don't want to miss it

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Quote from: nanaimogold on November 18, 2019, 11:43:01 AM

Quote from: Christinebeauty on November 09, 2019, 11:41:26 PM

Its a good idea though. But it would have been better if you divide the total funds in a ratio of say 8:2 so that you can save about 80% in stable coins while keeping de remaining 20% in a volatile coin, probably BTC so that your funds can appreciate small by the time you are withdrawing your funds

I would advice you to put it into bitcoin because of its foreseeable longterm profit but sincerely speaking the investment window of 6months which you gave is quite short. 6-8 months ago and bitcoin was trading under $4k. The market is too volatile to say the price of btc in the next 6months. You might have to wait a bit longer for gains

Stable coins don't bring anything. And I am not sure what's more trustworthy - banks or some more or less known institutions that issued stable coins.
An idea was to invest for growing the value. Investment means risk. And investments need time and 6 months may not do, especially in crypto, which is prone to big fluctuations.
But if he does so, then I would advise more than Bitcoin only, some amounts can go into something else. Maybe some small amounts into altcoins, maybe some amounts into gold or stocks... diversifying uses to increase the chances for a good outcome.

However, OP should keep in mind that exchanging his money into something else and back means fees to be paid.

So there's no good solution imho.

nanaimogold

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Quote from: Christinebeauty on November 09, 2019, 11:41:26 PM

Its a good idea though. But it would have been better if you divide the total funds in a ratio of say 8:2 so that you can save about 80% in stable coins while keeping de remaining 20% in a volatile coin, probably BTC so that your funds can appreciate small by the time you are withdrawing your funds

I would advice you to put it into bitcoin because of its foreseeable longterm profit but sincerely speaking the investment window of 6months which you gave is quite short. 6-8 months ago and bitcoin was trading under $4k. The market is too volatile to say the price of btc in the next 6months. You might have to wait a bit longer for gains

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Quote from: aysg76 on November 18, 2019, 10:55:19 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?

See OP thats a really good thought and as you want to invest in crypto but this market is too volatile and you could loose your money at any time as market can crash in coming months and your house dream could shatter so be wise and try to invest only in some potential altcoins most probably only in bitcoin as it has high rerurns over short period of time.Hope you can achieve your goal and price rise and we all gain profits along with you.

Let's be practical in every decision that we will have, if you already have plenty of money, think carefully where you are going to invest. Remember that cryptocurrency is very risky, so if I do have a lot of money, will just invest some of it, and the rest will do for a traditional business, I would also love to have a real estate investment of crypto. If I will invest in crypto, I will just invest in Bitcoin and in Ethereum.

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investing with 40k to pay for something in your case would be very good for choosing bitcoin, because after all bitcoin will have greater potential in the next few months or more precisely in the next year. when you choose a stable coin then i think it is very risky because when there is a big dump then at least the stable coin will also fall and will slow to recover and this is very different from the top and more popular coins like bitcoin

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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?

See OP thats a really good thought and as you want to invest in crypto but this market is too volatile and you could loose your money at any time as market can crash in coming months and your house dream could shatter so be wise and try to invest only in some potential altcoins most probably only in bitcoin as it has high rerurns over short period of time.Hope you can achieve your goal and price rise and we all gain profits along with you.

Latines

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Do not be silly. Cryptocurrency is unpredictable. Only money that you can lose can be invested here. And throwing money at home is not what the family expects from you.

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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?

6 months is too short a period so it is very difficult to choose the asset that will help make you rich. But in any case ,you need to choose assets from at least the TOP 10.

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Quote from: bassbity on November 18, 2019, 09:36:13 AM

I think it is not good to save money in crypto because it is very risky, in my opinion saving in a bank is safer than crypto, something happens in the bank then the bank's responsibility. If it's in crypto, then you have to accept it gracefully if it happens that you don't want it, then a better down payment for a bank house is much safer.
Or even stable coins are still vulnerable to risk.

between risk and return totally different. Saving our money only get its security,they will pay us with small interest and its suitable for investors that use playing safe strategy. Meanwhile in crypto , we could earn money ,hundred percents profits only in few days or weeks.but dont forget it has high risk too for all investors . we could choose them that which is suitable for our character.

Topic: Saving for a House! - page 7. (Read 2373 times)