Transfer My Entire Savings to Cryptocurrencies? - page 16.

budz0425

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Quote from: Cryptoproff on May 06, 2018, 12:40:07 PM

Please dont ever think that transfer the entire money that you have to any of business or trading or whatever is good idea because its never been a good idea at all.
It is like put all the eggs to one basket.

It is not practical to transfer all your hard earned money as the price was unstable and it is somewhat hard to predict the price so we must be practical in making a decision with what we are doing especially in trading, it is fine to take risk but not too much unless you are so sure about what you are doing.

playboy654

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Quote from: godfredmanu on May 06, 2018, 11:02:13 AM

The most riskier thing anyone and specifically experience trader will put all his eggs in one basket. What if cryptocurrency that you invested in go out of the market. I think one must only invest the amount he or she is comfortable to lose, and this rule shouldn't ever be broken.

Yes you are right investing on your both your savings into crypto currency is the most riskier thing ever do it at any cause money is important for all but not our life it is just a medium to move forward so keep little bit for your future life.

Cryptoproff

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Please dont ever think that transfer the entire money that you have to any of business or trading or whatever is good idea because its never been a good idea at all.
It is like put all the eggs to one basket.

carriebee

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Quote from: multimix on May 06, 2018, 11:53:59 AM

I think this is a big risk for him because he transfers all of his savings although he has a big chance to make a big profit too in the future. but I think before he does this, he should think that he still needs money to continue his life.

Big risks to transfer all savings into cryptocurrencies and not a wise decisions to invest all. Market is high and low it's price so it is better to not to all in. Though you have point it can gives a huge profit but still not a good decisions.

multimix

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I think this is a big risk for him because he transfers all of his savings although he has a big chance to make a big profit too in the future. but I think before he does this, he should think that he still needs money to continue his life.

sumanto

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better do not take and withdraw the assets you have in stcok exchange everything, you better set aside some money for trading capital in stock who know you can benefit there again and in my opinion for now binance is the best exchange place and has the volume very high trading.

Rufsilf

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You can invest all your money, however it's still recommended that you'll save some money in your savings account because what if the price of bitcoin is still very low and you need money immediately? You'll get your money in a low price compared on how much you've invested for you to get that amount of crypto. Invest only some of your money so you still have some money left if ever you need it in case of emergencies.

godfredmanu

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The most riskier thing anyone and specifically experience trader will put all his eggs in one basket. What if cryptocurrency that you invested in go out of the market. I think one must only invest the amount he or she is comfortable to lose, and this rule shouldn't ever be broken.

Joriecoinbit

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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.

geegaw

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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

Firefox07

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For me it is not wise to put all your savings into cryptocurrency. Because cryptocurrency market is so unpredictable. Your savings will be gone if you make a wrong decision. So think carefully before you make your decision.

lordmick

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I think it is better invest money in several kinds of assets. Everybody knows that investments in cryptocurrencies involve high risks. Such investments as in securities, real estate provide a stability, but not a large income. Therefore, taking into account the riskiness, I think it will be more correct to distribute investments evenly among several similar assets. And of course you always should hold fiat (cash) money.

klasik1980

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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.

Kriptex

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Quote from: boboking on May 06, 2018, 05:23:34 AM

Quote from: Dreamchaser21 on December 03, 2017, 11:49:41 PM

Better not to put out all your money in stocks instead diversify you portfolio. Stocks are really ok for me in terms of making profit but yeah trading with cryptocurrency is a best market for me right now, I think bittrex is more secured compare to other but I'm not sure of course, better to do your own research about this but investing in cryptocurrency is always a good choice.

I agree you need to diversify your investment. Do not put all your money in stocks and do not move all your money to crypto currency.
Since you have mentioned that you are getting positive results on stocks i guess you know how to trade or at least have knowledge on it. Crypto currency market is similar with quite differences but i am sure you will get it right away and you wull have good results as well.

Now for the exchange i personally use binance,it is about preference, just make sure your exchange is trust worthy.

If you already have your car, house and other important stuff, you can transfer rest of your savings to cryptocurrencies, but you should be careful. Never transfer your savings completely unless you're very good at this field.

Leonard2016

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Rule number 1 : never invest any kind of money in cryptocurrency you can't afford to loos , investing all you got could be one of the worst mistakes in your entire life , this market is like a jungle , Doesn't follow rules too much!

Semaj123

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It's a totally a big risk to make this decision because cryptos still in an infancy period. Having an uncontrolled value, anytime can possibly turn into nightmare so, it's better to invest only what you can afford to lose. Transferring your entire assets into cryptos is not highly recommended due to cryptos volatility.

boboking

member

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Quote from: Dreamchaser21 on December 03, 2017, 11:49:41 PM

Better not to put out all your money in stocks instead diversify you portfolio. Stocks are really ok for me in terms of making profit but yeah trading with cryptocurrency is a best market for me right now, I think bittrex is more secured compare to other but I'm not sure of course, better to do your own research about this but investing in cryptocurrency is always a good choice.

I agree you need to diversify your investment. Do not put all your money in stocks and do not move all your money to crypto currency.
Since you have mentioned that you are getting positive results on stocks i guess you know how to trade or at least have knowledge on it. Crypto currency market is similar with quite differences but i am sure you will get it right away and you wull have good results as well.

Now for the exchange i personally use binance,it is about preference, just make sure your exchange is trust worthy.

damsix

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Id Telegram : @dam_six

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.

if in my opinion do not all your savings money sent to Crypto, because it up and down it very quickly.

so I think for two between the money crypto and Fiat money. so Fiat money for your everyday life and as a back up when Crypto money goes down or gets stuck.

cpkozak

newbie

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I think you should not do that. If it were me, I would invest 60% of my money. Of which 40% I invest in good coin like BTC or ETH. The remaining 20% will invest in ICO projects. And I think this will be safer.

Caladonian

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Quote from: elbimbo012 on May 02, 2018, 09:26:32 AM

Most replies here says it is risky which I also agreed since crypto market is a very risky form of investment but as long as you are careful in selecting your coin to invest there is no doubt you can multiply your investment in several folds in the future

We already seen that before, but still placing everything inside this business is a big NO, better to split so you still have some savings to use just in case you needed some emergency funds for some cases that we can't avoid to happen, better to make some good assessment before you deal with certain decisions that won't allow you to change up after you go all in.

Topic: Transfer My Entire Savings to Cryptocurrencies? - page 16. (Read 4072 times)