Transfer My Entire Savings to Cryptocurrencies? - page 13.

Ziskinberg

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Quote from: naily on May 22, 2018, 11:12:47 PM

Quote from: BlasterS on May 08, 2018, 06:09:32 AM

Nope, transfer my entire savings to cryptocurrency is too much to ask for and too risky
because it’s all about personal uses now and I think is not good at all, and also I know is not advisable to do that thing.

My advice about currency exchange is a good exchange I suggest you proceed with the exchange. You can split your funds in half, then invest half in cryptocurrency

Actually we are in the crypto world and we are dealing with cryptocurrency.
I don't see the difference with cryptocurrency and exchange because exchange do crypto thing which give them money.
I suggest if you are not good in trading short term, just buy and hold it for long term, but never go all in because it's a bad decision.

naily

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Quote from: BlasterS on May 08, 2018, 06:09:32 AM

Nope, transfer my entire savings to cryptocurrency is too much to ask for and too risky
because it’s all about personal uses now and I think is not good at all, and also I know is not advisable to do that thing.

My advice about currency exchange is a good exchange I suggest you proceed with the exchange. You can split your funds in half, then invest half in cryptocurrency

lamadu3

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Quote from: cheezcarls on May 14, 2018, 11:44:40 AM

To be honest with you, I think it is not a good idea when it comes to transferring all of your savings into cryptocurrencies. Try to picture this out for yourself. What happens if all of the cryptocurrencies fall? Of course, all of what you have saved will fall as well and you might end up getting lost there. The best thing for you to do is to diversify your savings. Put some of them in cryptocurrencies while keep the rest to sustain yourself. Do not put all of your eggs in a single basket.

I do not think also that you have to invest all of your savings in the cryptocurrency. You can take 30% of the money and buy the altcoins and Bitcoins.

Monnt

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Quote from: crazy-pilot on May 14, 2018, 09:50:28 AM

There is no doubt that the best investment in bitcoin is the long term and I'd always recommend to try doing that since it's promising in terms of profit.

For me this long term investment is best as well. But this really varies from person to person. This never let you know that everyone is interested in long term investment and everyone must be going for that. No, every trader comes with some different mindset and achievements that may or may not be resonating with long term investment. So better is to research before getting in here.

ajaymukund

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https://streamies.io/

Quote from: Triple on December 03, 2017, 11:26:42 PM

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.

$ 1000 is enough money for you to get rich in the Crypto market. I have a startup friend with $ 300 and now he has $ 2 million. I'm not kidding, it's true. He worked very hard, analyzed the ICO project and speculated very smartly. After just one year, he has had a lot of money from the Crypto market.
I advise you not to transfer all your savings into electronic money as it only makes you more anxious.

crazy-pilot

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SmartFi - EARN, LEND & TRADE

Let's imagine that you have such currency as Bitcoin and now you are not sure whether you should Hold and Save or Invest and Buy Altcoin.

dev9t9ok

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You are not alone who transfer money from stock market and want to find perspective crypto coins to invest in. I have chosen ETH and I am glad. I expect ETH price about 2500$. In your case I would better choose several coins to decrease risk.

napkin1989

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if you want to be a financially literate person, you have to save for the future a certain part of the money. And you have to work hard enough and do not waste time. Let's say the winner of the cryptocurrency is the one who places orders in advance and monitors its financial portfolio. Use for special applications such as FinTab.io

cryptogirlboss

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I almost did it myself, going all in with all my savings... thank god I didnt do it, as it was just right in the bear market deep!

so keep in mind, we cannot predict what is gonna happen tomorrow, thats why is better to stll diversify and never go all in with out savings

we really can lose everything!

cheezcarls

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Looking for gigs

To be honest with you, I think it is not a good idea when it comes to transferring all of your savings into cryptocurrencies. Try to picture this out for yourself. What happens if all of the cryptocurrencies fall? Of course, all of what you have saved will fall as well and you might end up getting lost there. The best thing for you to do is to diversify your savings. Put some of them in cryptocurrencies while keep the rest to sustain yourself. Do not put all of your eggs in a single basket.

Souldream

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Quote from: Webberson on May 11, 2018, 01:37:18 AM

Cryptocurrency has proven overtime to be a good investment. Regardless, it is actually not advisable to transfer an entire saving to cryptocurrencies. In my own opinion, i think some should be reserved just should in case you happen to incur some losses while trading. You should atleast then have a back-up.

Yes I do believe also that cryptocurrencies is tested to be a good investment. But I guess transferring all your entire savings into cryptocurrencies is an insane decision. Well, I don't have any control with your decisions so I'm just telling my opinion regarding on this matter because I am really opposite to your suggestions.

crazy-pilot

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SmartFi - EARN, LEND & TRADE

There is no doubt that the best investment in bitcoin is the long term and I'd always recommend to try doing that since it's promising in terms of profit.

tambok

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I will not transfer my entire savings to cryptocurrencies not because I don't trust bitcoin or other cryptos but because I want to maximize the money that I have, and I want to have at least saving that I can use in case of emergency in our family.

noah tall

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Quote from: emberbekas on May 10, 2018, 06:00:40 AM

Putting all our savings into cryptocurrency is like gambling for me. But yes, it's a matter of decision. Those who dare to take risks are the ones who may be able to laugh very wide in the end.

This is the main point. Courage to bear the loss and patience is mandatory while entering into the world of cryptocurrency. But still I suggest you not to invest all your money in bitcoin. You can split your money into different coins or you can keep some money in your bank account because if you need cash money you will not sell your holding and avoid from losing.

goku1525

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Quote from: fredo123 on May 12, 2018, 06:53:46 AM

Quote from: Triple on December 03, 2017, 11:26:42 PM

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 guess, its not good idea, because all things connected to cryptocurrency are unpredictable, and highly volatile, what comes in my mind if the value suddenly drops, It would be a huge lose, May be, you should set an amount that you can absolutely afford to lose.

Yes, for the safe of your earnings better to move your coin that you afford to lose because its hard to recover that big amount. Definitely, crypto currencies can earn quick big profit but its to risky because the prices is unstable and we can't expect for the prices regulates properly.

fredo123

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Quote from: Triple on December 03, 2017, 11:26:42 PM

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 guess, its not good idea, because all things connected to cryptocurrency are unpredictable, and highly volatile, what comes in my mind if the value suddenly drops, It would be a huge lose, May be, you should set an amount that you can absolutely afford to lose.

dimonstration

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Dimon69

Quote from: LuffyD.Monkey on May 12, 2018, 03:00:41 AM

Quote from: Joriecoinbit on May 06, 2018, 10:16:31 AM

Quote from: geegaw on May 06, 2018, 10:10:00 AM

Quote from: klasik1980 on May 06, 2018, 09:24:38 AM

It is not a good idea to transfer savings to crypto currencies, as they are extremely volatile. You can lose money. Even otherwise there could be new regulations.
Regard crypto currencies as high-risk stock -- only invest what you can afford to lose.

I agree that we can lose money but we can also make more money from this transfer, as long as we ensure that we are investing based on the knowledge we have, it is not arbitrary investment, transfer all savings will be not a crazy thought or a big problem. On the other hand, if we do this according to what others say or try to follow in the direction of society without knowledge, this will be a stupid act and make us regret for the rest of our lives, so always have a plan and think carefully before doing something, that's the best advice I can say in this matter

Make it sure you're already having good strategies because it has a chances to gone your savings immediately because prices is so volatile .In this case, better to halve your savings for us to be secured and not to regrets at all. Investment site here in crypto is different from others because the process is too risky.

It is good but I suggest you to put your money in different crypto, because if one loses other will earn and you will be relaxed. Never invest all you money in bitcoin or Ethereum or any other crypto. There should a way for survival and the best way is that to split your investment in different currencies. If you want cash you can sell some of your coins which you feel are not making more money.

true putting this on just one currency and you havent knew what could be the possible that may happen on it its either win or lose up and down you cant find out what can happen so different currency is a must.

Cosbycoin

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Quote from: yua_na on May 11, 2018, 01:14:23 AM

It wpuld be wise if you spread it also to gold not all of it going to crypto. I believe crypto is the futures of store of value but you need to consider the wild market in crypto. Its your own decision to male but we as community will say " dont put your eggs in one basket " buy 30% of it to gold and 30% for fiat and the 40% put on crypto.

Yeah it is good idea. Most people are now doing the same because bitcoin price is so high that one doesn’t invest all his money in bitcoin only. When you split your investment, lose chances will also be divide and so the earning. You can search best option other than bitcoin. For me ripple will be the second option for my investment and then litecoin.

LuffyD.Monkey

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Quote from: Joriecoinbit on May 06, 2018, 10:16:31 AM

Quote from: geegaw on May 06, 2018, 10:10:00 AM

Quote from: klasik1980 on May 06, 2018, 09:24:38 AM

It is not a good idea to transfer savings to crypto currencies, as they are extremely volatile. You can lose money. Even otherwise there could be new regulations.
Regard crypto currencies as high-risk stock -- only invest what you can afford to lose.

I agree that we can lose money but we can also make more money from this transfer, as long as we ensure that we are investing based on the knowledge we have, it is not arbitrary investment, transfer all savings will be not a crazy thought or a big problem. On the other hand, if we do this according to what others say or try to follow in the direction of society without knowledge, this will be a stupid act and make us regret for the rest of our lives, so always have a plan and think carefully before doing something, that's the best advice I can say in this matter

Make it sure you're already having good strategies because it has a chances to gone your savings immediately because prices is so volatile .In this case, better to halve your savings for us to be secured and not to regrets at all. Investment site here in crypto is different from others because the process is too risky.

It is good but I suggest you to put your money in different crypto, because if one loses other will earn and you will be relaxed. Never invest all you money in bitcoin or Ethereum or any other crypto. There should a way for survival and the best way is that to split your investment in different currencies. If you want cash you can sell some of your coins which you feel are not making more money.

ipanks

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Quote from: Btc_1856 on May 12, 2018, 12:13:11 AM

Really you have taken a wrong decision because the crypto market is unpredictable and which cannot able to predict when the price will increase. Investing all your entire money into cryptos is gambling, but you need to wait long term until you make profits on your investment.

but I guess if he can take the risk and he can accept for what will happen in the future and never regret what his done, I think he can do that because it's his money. although we could only give him advice, if he still wants to transfer his entire savings to cryptocurrencies, then we cannot say anything and we only can pray for him that he can make a lot of money in the future.

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