Should I convert my savings into Bitcoin? - page 3.

antonioa

full member

Activity: 229

Merit: 250

Quote from: xSkylarx on October 29, 2016, 11:14:44 PM

Quote from: Spektrobas on October 27, 2016, 02:28:49 PM

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

It is very profitable if bitcoin's price would continuously increase but if bitcoin's price suddenly drops your fiat's value would decrease also and that would not be good.

even though temporary fluctuations in the price of Bitcoin continues to grow. so Bitcoin is still possible to invest. But whether all income should be converted to Bitcoin - unknown

philggg

sr. member

Activity: 343

Merit: 250

i am regretting not storing my earned money into bitcoin,i was suprise to see it rise so fast, i will also advice you to buy enough bitcoin so that in future it may increase in value

xSkylarx

hero member

Activity: 2366

Merit: 594

Quote from: Spektrobas on October 27, 2016, 02:28:49 PM

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

It is very profitable if bitcoin's price would continuously increase but if bitcoin's price suddenly drops your fiat's value would decrease also and that would not be good.

usefrees

full member

Activity: 218

Merit: 100

Quote from: CoinFoxs on October 29, 2016, 01:39:20 AM

Yes it is profitable because price of bitcoin is growing day by day, the price of bitcoin increased from 640$ to 698$, and in future price will definitely increase so buy bitcoins as much as you can or want and hold it for some months and waiting for price to increase.

I also translated some of their money in Bitcoin. But when the price of Bitcoin approached the $ 700 I had already started to worry - what if, after such a sharp decline in the price of rise will be. Because then I will remain a loser. Maybe it's too late to buy Bitcoin

hase0278

hero member

Activity: 882

Merit: 544

Converting a percent of your saving into bitcoin I think is good, but converting all your savings into bitcoin is a bad idea in my opinion. Also ill say that now is not the right time to convert your saving into bitcoin if you want to, wait for a dump before doing that. Just convert about at least 30% of your savings to bitcoin so that if it dumps or lose value, you won't regret that you converted some percent of your savings into bitcoin.

Nivir

hero member

Activity: 868

Merit: 506

Diversification is the best in my opinion but of course you gotta have at least decent knowledge on where your savings headed to. I believe Bitcoin continues to rule the cryptocurrency and will keep on increasing. Investing at some promising altcoins and ICOs can also give you some decent returns. Also some top online casinos like accepts investors so you can also keep your BTC and other alts there.

Bitcoingiver

full member

Activity: 126

Merit: 100

Get paid $500 to $1500+ per week

Yes it will be good but sometimes it is very risky

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: CoinFoxs on October 29, 2016, 01:39:20 AM

Yes it is profitable because price of bitcoin is growing day by day, the price of bitcoin increased from 640$ to 698$, and in future price will definitely increase so buy bitcoins as much as you can or want and hold it for some months and waiting for price to increase.

Too late for converting into the bitcoin form in this day and especially the price are got pumped over $700 in bitfinex and I think for providing the another option for investing in the alt place rather than btc in this day caused by the power of btc are reducing the price of the altcoin.

CoinFoxs

copper member

Activity: 1815

Merit: 1004

PredX - AI-Powered Prediction Market

Yes it is profitable because price of bitcoin is growing day by day, the price of bitcoin increased from 640$ to 698$, and in future price will definitely increase so buy bitcoins as much as you can or want and hold it for some months and waiting for price to increase.

lienfaye

hero member

Activity: 3010

Merit: 629

Yes it is profitable, but investing in bitcoin has a risk and you should be prepared for that if you want to put your savings in btc. currently the price is a bit high, better wait for the value to go down again then buy.

mace15

hero member

Activity: 1428

Merit: 506

Definitely its risky convert savings into bitcoin. As we all know
bitcoin is volatile price and its literally risky to convert it.
But somehow, you can gain profit since bitcoin is increasing.

lumeire

legendary

Activity: 1848

Merit: 1009

Next-Gen Trade Racing Metaverse

Quote from: Slark on October 28, 2016, 07:52:54 PM

Some people are blinded by old system. Where they are promised to gain interest rates just by putting their money in a bank deposit.
It was totally safe bet - they always gained small profit - but real life investing is not that simple - you can lose if you mess up.
Skeptics still can say that depositing money in a bank account is safer - but gaining 2% from it, is really worth it? When you can earn much more with BTC?

Actually you're just storing your money by keeping it in the bank. The interests are useless, and you're better off going for a more legitimate investment instrument.

Slark

legendary

Activity: 1862

Merit: 1004

Some people are blinded by old system. Where they are promised to gain interest rates just by putting their money in a bank deposit.
It was totally safe bet - they always gained small profit - but real life investing is not that simple - you can lose if you mess up.
Skeptics still can say that depositing money in a bank account is safer - but gaining 2% from it, is really worth it? When you can earn much more with BTC?

Wowcoin

hero member

Activity: 910

Merit: 507

Quote from: Spektrobas on October 27, 2016, 02:28:49 PM

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

Yes its be profitable once the bitcoin price goes up you get profit on it the biggest investment the biggest profit once the bitcoin rise. So maybe you should convert your savings into bitcoin but not all.

betohell

sr. member

Activity: 476

Merit: 250

Quote from: Bitcoinsummoner on October 28, 2016, 12:34:50 PM

Like other said its profitable but for now i see that the price is high so i think this is not a right time to sell or exchange your savings into bitcoin better to wait more days to see if the price will goes down before you can exchange it into bitcoin so that you can make more profit once the price will increase again..

I think just because of the high prices. does not mean you should not buy bitcoin. because it is possible that prices continue to rise even if the price has been high. so get rid of it and buy bitcoin feeling now to a profit

rinhunter

hero member

Activity: 826

Merit: 1000

Quote from: Spektrobas on October 27, 2016, 02:28:49 PM

I am thinking in investing my savings into Bitcoin and try to get some profit when the price of BTC goes up, but is it actually profitable?

Definitely, because I've tried it, but if you're still doubt you should not do it, and i think you must use only half from your saving.

MTBTT

hero member

Activity: 504

Merit: 500

Quote from: OrangeII on October 28, 2016, 12:30:57 PM

of course it will be profitable, you need is the determination to do it. think about it, if you lose when you do that, you just need to play or collect bitcoin trading again, so you can cover your losses. Well, the business can you make simple my friend Wink

I think it is not that easy, bitcoin prices change all the time and if you change all your money into bitcoin would be very risky, certainly when you lose you're not going to have no more capital

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: aso118 on October 28, 2016, 11:03:10 AM

Savings in banks is also safer than bitcoins.

We have a leak ... Bankster are here.

lionheart78

legendary

Activity: 2954

Merit: 1153

I don't think there is a need to convert your savings to bitcoin unless you wanna invest in bitcoin. If you ask me if it is safe to invest in bitcoin so that you can convert all your saving to bitcoin, I would say it is safe but not 100% risk free. Bitcoin had been known to have a high volatility, so there is risk that bitcoin price might go down in price the moment you invested in it resulting to lost in calculation but you must be in for a long run. So you need to wait for about years to see your bitcoin investment gain big profit.

carlerha

hero member

Activity: 588

Merit: 500

Quote from: OrangeII on October 28, 2016, 12:30:57 PM

of course it will be profitable, you need is the determination to do it. think about it, if you lose when you do that, you just need to play or collect bitcoin trading again, so you can cover your losses. Well, the business can you make simple my friend Wink

yes it will really be profitable no doubt about this. i think i have already done so and still investing even my income in bitcoin, on every 1st of every month i inves my salary in bitcoin for holding and increasing its price and then using it directly for different activities.

Topic: Should I convert my savings into Bitcoin? - page 3. (Read 4598 times)