Topic: Transfer My Entire Savings to Cryptocurrencies? - page 12. (Read 4040 times)
Just take some of your investment and buy a crypto with it, Do not keep your crypto currency in exchange because many of the exchanges have faced the problem of storing it in the wallet. Download your personal wallet and move your coin into it. Consider buying a hardware purse because this is the safest.
I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.
I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.
What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.
I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.
What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.
We all know that cryptocurrency is profitable and there are risks that we have to take if we want to gain a good profit. However, we should still know what our limits are. Putting all our earnings in it would be risky since we don't know when will the market recover again. Make sure that you limit your investments.
I think investing all your savings would not be a good idea. You have to know that cryptocurrencies are high risk investments. Even when there are some people who made this in the past and get very rich. The chances for a new bullrun are low, and maybe it will take some years before we will see a new alt time high of bitcoin!
That's a bad idea to start your crypto journey because you are risking your savings here in cryptos. You know that there is not guaranteed that we could earn in a span of 1 month or even 6 months. Putting all your hard earn money here means that you are aware of the consequence. If the price went down then all your savings will be less. I suggest don't put your savings here rather put only money which you think you can handle if you loss.
Well my opinion better dont use your saving money, just use free money if you have. If you have losing capital so you will not losing your money for your life. Its called money management put all your saving money into a investment its a bad idea for psychology so i hope you think twice before do that.
I do think that if you can afford to put all your investment eggs in one basket then I would think you need to put it on a project that is the most important of all - active. Active meaning it has updates and developments and people always keep on updating investors and enthusiasts.
I do not think so. Why? because in this situation, the best option for investing savings is 50%. The remaining 50% you wait when the course will go down to buy more coins)
dont put you all of money you can't afford to lose it, invest or trading is risky to lose of money
so, it be better to be smart for the investment.
so, it be better to be smart for the investment.
You already said that the risk is too high compared to your other investments. Yes, the profits is very abundant in cryptocurrencies but it's better to do slow and careful so you can still manage your risk and reduce your losses.
Very well said. You can invest half or a quarter of it or 75% of it as long as you have something left for other necessities you need to pay. You have to make sure that you can get a money immediately for emergency purposes. This industry is very promising and helped a lot of lives but be careful and take measures. Just be sure. 
This decision is not wise. You can be not sure what will happen on the market next day. It is good to invest not more than 30% of your savings in the cryptocurrency.
there is always a saying that don`t put all your eggs in one basket, I neglected this saying twice and twice I have lost money as my entire period in crypto, so I would say better distribute your savings.
You already said that the risk is too high compared to your other investments. Yes, the profits is very abundant in cryptocurrencies but it's better to do slow and careful so you can still manage your risk and reduce your losses.
Do not do that. We should be living a way. Profit comes with great risk. Do not know what will happen. Do not take the risk: D
Op that decision might be too risky as the volatility of Bitcoin and other altcoins are toi high for one to transfer all his or her savings in to crypto currency.
That would not be a good idea and it is not like I question the profitability of cryptocurrencies. That is because if you convert all your savings in crypto you take too much risk and you have difficulties accessing it in case of emergency.
Of course that won’t be a very good idea to transfer all your savings to crypto. Though crypto is a world of easy earning but bear in mind it is a world of uncertainty as well. There have been times when people invest their savings and earn huge. There have been times they lose all. The good thing would be if you invest a portion of your saving in crypto and keep the remaining money aside or invest that money in real estate or property business.
don't do such step on cryptocurrencies Crypto market is very volatile and u may see market crash and market may take time for recovery so u should have sufficient time for recovery money for survival
It's your decision. When I first bought bitcoin in 2012 the price was $13 per BTC. If I bought it for all my saving I would be a millionaire
I do not think this is a good idea. If it was me, I would not do it. You should only invest 60% of the savings you are having so or better. Make a donation for emergency work. so better.
It is not wise to put all your savings to crypto currency because if it crash so hard your savings will be at loss. It is better to invest portion of your savings that is comfortable with you and keep some of your savings for emergency purposes. Better manage your money wisely to avoid losses. But if you are risk taker it is up to you to decide that serious matter.
That would not be a good idea and it is not like I question the profitability of cryptocurrencies. That is because if you convert all your savings in crypto you take too much risk and you have difficulties accessing it in case of emergency.
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