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?
A stable coin might be good for keeping your assets for 6 months, but I think if you don't think of putting in a type of cryptocurrency that has profits like bitcoin or ethereum. when the coin has an increase in price I think you will get a profit. so think about it 
Topic: Saving for a House! - page 9. (Read 2373 times)
This is a very big risk - getting money for a house and investing it in cryptocurrency. For such a short period - 6 months - you will receive a small profit. There is a risk of being left without funds at all. I do not advise you to do so.
It is unlikely that this will be possible because if you only have $1000 to invest, saving to buy a house is impossible. I think this is the way for big investors and depends a lot on the money they save in this market. For me, I cannot afford to do this but I will use some of my savings for emergencies as this is my insurance for my safety in everyday life.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 should also think that all investments will carry a lot of risk, be it loss or profit. just how you can anticipate and examine correctly.saving in crypto is the same as investing, now you just have to be able to analyze the situation where you will put it. do not let you fall that actually harms. it's good to divide up some items that are already on the market so that it's not too risky.
Even investing on crypto that already listed on the market is not recommended for savings because the concept of crypto is just invest the money that we can afford to lose. So investing for saving for cryptocurrency is a very high risk decission. Only invest the money that we don't need anymore such as if we already have a passive income and active income, we can invest the passive income to crypto and we'll be safe in financial even the money that we invest in crypto are lossing
Personally i believe you are taking a big risk saving such huge amount for a project in Cryptocurrency. Investing in Cryptocurrency is highly risky especially when the money is for something as crucial as a house. The market can't be predicted at all. Stable coins should be the best option if at all you want to save in crypto
Agree with this opinion, it is too risky to invest all of the down payment on a house to invest in the cryptocurrency market. Crypto is difficult to predict when the price goes up, it could be in the next 6 months the price of crypto goes up but it can also go down. In my opinion, it's safer to invest using funds we can afford to lose so we are more relaxed
because if the funds you use are for an interest that also cannot be underestimated. this will be a problem because investing in crypto is a long-term investment. if possible I agree with the opinion of the colleague above that it is better to use funds that are truly available and not for basic interests.
Personally i believe you are taking a big risk saving such huge amount for a project in Cryptocurrency. Investing in Cryptocurrency is highly risky especially when the money is for something as crucial as a house. The market can't be predicted at all. Stable coins should be the best option if at all you want to save in crypto
Agree with this opinion, it is too risky to invest all of the down payment on a house to invest in the cryptocurrency market. Crypto is difficult to predict when the price goes up, it could be in the next 6 months the price of crypto goes up but it can also go down. In my opinion, it's safer to invest using funds we can afford to lose so we are more relaxed
Personally, I spend a lot of time managing my investment and always keep a savings for my family or if something goes wrong. We cannot guarantee anything in this market so the savings are still much better.
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 should also think that all investments will carry a lot of risk, be it loss or profit. just how you can anticipate and examine correctly.saving in crypto is the same as investing, now you just have to be able to analyze the situation where you will put it. do not let you fall that actually harms. it's good to divide up some items that are already on the market so that it's not too risky.
Personally i believe you are taking a big risk saving such huge amount for a project in Cryptocurrency. Investing in Cryptocurrency is highly risky especially when the money is for something as crucial as a house. The market can't be predicted at all. Stable coins should be the best option if at all you want to save in crypto
Agree with this opinion, it is too risky to invest all of the down payment on a house to invest in the cryptocurrency market. Crypto is difficult to predict when the price goes up, it could be in the next 6 months the price of crypto goes up but it can also go down. In my opinion, it's safer to invest using funds we can afford to lose so we are more relaxed
Personally i believe you are taking a big risk saving such huge amount for a project in Cryptocurrency. Investing in Cryptocurrency is highly risky especially when the money is for something as crucial as a house. The market can't be predicted at all. Stable coins should be the best option if at all you want to save in crypto
Investing your hard earn money on cryptocurrency is not really a wise decision to make. We all know cryptocurrency trading is at high risks and can't be dependable. What I would suggest is keep 50% in cryptocurrency and don't act too greedy not to take profit. And the rest keep it in a bank this will be balancing your risk in half way instead of investing all in cryptocurrency.
Buying cryptocurrency is not always the same. You can buy Bitcoin which IMO is a great idea. If you think it's not you should get in touch with all those thousands of people who bought Bitcoin before december 2017. They should have a thing or two to say to you.
The other part of advice is good you can invest 50% but that doesn't make you safe. If you're trying to buy a house losing 50% will make you almost as miserable as losing it all because you won't be able to buy it either way.
Don't put it in a stable coin because it won't help you. It's best to put it in bitcoin, or in ethereum because you have a greater chance of making a profit here. But you also need to be careful because we don't know what can happen with the bitcoin price today. So it depends on you but it is best that you put it in the bank because it is more secure and you are sure it will not rob by anyone.
Banks are not an option at all.The Bank will never make you rich.Crypto and only crypto.But before investing you need to think very carefully and analyze what you want to invest in.I myself am now in search of a good investment, so I will not recommend anything. Decide everything yourself.
Investing your hard earn money on cryptocurrency is not really a wise decision to make. We all know cryptocurrency trading is at high risks and can't be dependable. What I would suggest is keep 50% in cryptocurrency and don't act too greedy not to take profit. And the rest keep it in a bank this will be balancing your risk in half way instead of investing all in cryptocurrency.
Don't put it in a stable coin because it won't help you. It's best to put it in bitcoin, or in ethereum because you have a greater chance of making a profit here. But you also need to be careful because we don't know what can happen with the bitcoin price today. So it depends on you but it is best that you put it in the bank because it is more secure and you are sure it will not rob by anyone.
I really do not recommend it still if you want to invest this money in crypto I would suggest you to go for some amount out of the total amount you have.Undoubtedly crypto can grow your amount many folds in a short time but at the same time it too can depreciate your investment in a short period. When dream of house shattered it hurts a lot. It has happened to me, I booked my house and even gave token money when crypto market was at its best but with the last downtrend everything vanished. My purpose is not to demoralize you but I want you to keep your money safe first.
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?
Some people were suggesting that you hold it for one year, but I would say the six months is okay if that's how long you want to hold it for. You're holding a stable coin so there is nothing like worrying about whether the price is going down or up. Whatever amount you put in there that's what it's going to remain when you pull it out, so I don't see the need to hold for one year when that would add anything to it, unless you decide to invest in Bitcoins.If you want to invest the money in Bitcoin then that's where you will have to start doing research and reading the charts to know what's going to happen next.. The market is at a low price now and there are also predictions of bull run happening at anytime.. But if you don't want to take the risks of volatile coins like Bitcoins, then a stable coin is a good choice.
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.
Setting aside for savings is really a good idea, during the time I gave my all in in crypto and I lost fund, I learned from it and it was my biggest mistake that I ever made, so for me, we should have fund for emergency purpose, for investment, for future, and for disbursements (daily needs, for monthly expenses) that is what I am doing now, budgeting well my fund, with that I am saving.
Maybe if you chose a decentralized stablecoin but it's still risky because you're trusting a relatively new project that hasn't been tested by enough people and for long enough.
If you're really ready to entrust your life's savings to a coin choose bitcoin. It may look like it's more unstable than stable coins but it's growing in value over time. Short term you can see losses but long term you will profit from holding your money there. A stable coin will not give you any profit and it's not much safer than a bank.
If you're really ready to entrust your life's savings to a coin choose bitcoin. It may look like it's more unstable than stable coins but it's growing in value over time. Short term you can see losses but long term you will profit from holding your money there. A stable coin will not give you any profit and it's not much safer than a bank.
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 are going to buy a stable coin with the amount of money that you have saved then it seems a better idea for me to save that in a bank or to keep it in your home and not tell anyone about it since it doesn't really make a lot of sense to buy a stable coin, as their name implies those coins are supposed to be stable and are not going to give you any profits no matter how long you hold them, however if you do not trust your local bank then it is better that you store it yourself but be very careful because if it is stolen most likely you will never get it back. 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.
That's risky. If you fail it will end badly. This isn't really money you can afford to lose. Why don't you invest the money into a company or idea you have or some sort of business?
I would recommend you do that over risking it for crypto. Only risk crypto investments if you already have crypto from the start or if you have some extra money you can use to invest that won't shake your whole world if you end up losing it in the end. Something like a house is too much of a risk to be playing games with.
There is no need to exaggerate the risk factor in crypto market because there are numerous examples where people have generated unbelievable revenues with the help of crypto currencies. Risk is there in business. Get your facts straight because 90% of the people who start business fail. So according to statistical data business is riskier than crypto. Investing into bitcoin has never been a risk for anyone. I would recommend you do that over risking it for crypto. Only risk crypto investments if you already have crypto from the start or if you have some extra money you can use to invest that won't shake your whole world if you end up losing it in the end. Something like a house is too much of a risk to be playing games with.
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.
Setting aside for savings is really a good idea, during the time I gave my all in in crypto and I lost fund, I learned from it and it was my biggest mistake that I ever made, so for me, we should have fund for emergency purpose, for investment, for future, and for disbursements (daily needs, for monthly expenses) that is what I am doing now, budgeting well my fund, with that I am saving.
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