I wouldn't do that, in fact, i invested a lot of money on bitcoins, but putting all your life savings? I do not think that it is a fair play.. You can lose a lot of money if the altcoin that you buy suddenly decreases. Or just if you invest in bitcoin, and at the next morning it is at $10 each.
Topic: Transfer My Entire Savings to Cryptocurrencies? - page 19. (Read 4073 times)
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 and its not recommended.
I like your point it is not good to put all your savings/finances all in cryptocurrencies. As we all know the entire system is volatile, we dont know yet when it will go high the prices and it may suddenly dumped. Just to make it clear never do it, spread your investment in other worth investment method. It is like put all the eggs to one basket and its not recommended.
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 and its not recommended.
It is like put all the eggs to one basket and its not recommended.
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.
At this point, i think i will not suggest you to put all of your from stock exchanger to cryptocurrency exchanger. I think you know the reason why. Because its very risk and like you said, cypto tramsaction is irreversible. So invest the amount you can afford to loss.
I suggest you do not put all your savings in cryptos although, we can see that bitcoin is continuously proving itself in terms of being a good investment just like other cryptos, still we are not sure until when will it continue to be like this (giving us good returns/profits). Also there are possibilities that an account can be hacked no matter how safe it is just like what you've said. I would suggest you to make balance on how much money you want to put in your savings as well as in cryptos, better to divide it wisely, cause just like what i've said, bitcoin and other cryptos continues to prove itself in the market, there are also possibilities where it can give as better profit and it would be a big regret if you do not make wise decision on what to do with your money.
Pls don't. Use stocks as a hedge. Maybe you can balance both portfolios. Do 60% crypto 40% stocks or whichever fits you. Better than missing some profits, you'll also miss some huge losses too. Or better stock up some fiat in savings, too. Everytime BTC corrects, you can rebalance your portfolio easily that way.
Its best not to put the entire money in cryptocurrencies. As the popular saying goes - "Don't invest money in cryptocurrency which you can't afford to lose". I would suggest, may be 20% of your savings.
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 and if he doesn't have money, how he could buy something? I hope that he realizes this and will think twice to do this. I think he can use half or quarter of his savings to cryptocurrencies and he still could make a big profit in the long term.
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.
You already said it your self, exchange has the possibility to be hack, no matter how good their security there is a slim chance that it can be hack and not safety and also not ensured by government. Its one of the reason why in my country Bitcoin is classified as unsecured investment BUT its returning earning is too much better rather than stocks. So its a gamble, HIGH RISK, HIGH RETURN
I have divided my savings into many parts. Mutual funds, properties, gold, and cryptocurrencies are the main division. You may think cryptocurrencies would be the one yielding the most and yes there is no doubt that but I don't wanna take a risk of losing everything for my greed.
Only a stupid person can call you greedy. I fully agree with you and support your direction and thinking. Only in many areas need to develop their investments and worry about the safety of their capital. I think that this is a normal activity for the truth of a business person.
I think almost all traders have one rule and that is to invest only what you can afford to lose. I mean it is good to put your money in cryptocurrencies but the "what if's" is actually what scares people to continue and prevent from investing with Crypto. Just have the courage and maybe we will that smile of yours when you get your first million.
I have divided my savings into many parts. Mutual funds, properties, gold, and cryptocurrencies are the main division. You may think cryptocurrencies would be the one yielding the most and yes there is no doubt that but I don't wanna take a risk of losing everything for my greed.
Only a stupid person can call you greedy. I fully agree with you and support your direction and thinking. Only in many areas need to develop their investments and worry about the safety of their capital. I think that this is a normal activity for the truth of a business person.The future of crypto is very bright and I say you are building your future now.
i think dont move all your money to cryto's, but just a half of your money
because invest in stocks is so good prospect and invets in crypto's just temporary
because invest in stocks is so good prospect and invets in crypto's just temporary
No man, you don't need to put your all savings to cryptocurrencies that is too risky it maybe lost your money.
It's better to keep some money for daily expenses and for in case of emergency.
You also need to spare for the sudden need.
It's better to keep some money for daily expenses and for in case of emergency.
You also need to spare for the sudden need.
I agree with you here. Most reply here are cheering up of putting the entire savings in crypto, but that is not always the case. Cryptocurrency is very risky. Also even its a good coins, still there is always teh risk of your account being hack and can lose the entire savings. For me its better to divide a percentage of it, shall we say 50 - 50 or 60 - 40 share. At least what ever happneded to crypto investment, you ahve still a fallback.
I will recommend you put all your money in bitcoin! I believe you will never regret doing so. As it concern security of your fund, put 80 % of your fund in cold storage and 20% in hot wallet so that if there is urgent need that require that you spend your bitcoin, hot wallet will be easily accessible!
No man, you don't need to put your all savings to cryptocurrencies that is too risky it maybe lost your money.
It's better to keep some money for daily expenses and for in case of emergency.
You also need to spare for the sudden need.
It's better to keep some money for daily expenses and for in case of emergency.
You also need to spare for the sudden need.
You should never transfer your entire savings to cryptocurrencies. You do not know what will happen in the future and then you will be left without any savings. Transfer a small percentage of your savings to any cryptocurrency you want and bit by bit you will be able to gain much profits.
In the meanwhile, make your own research about the altcoins that are in progress and that you are sure they will reach a high value in the future.
I agree.You should never put all your savings in cryptocurrencies just because you want to make the best profit,just give only a portion of it or even half of it.The other half should be put in your trusted bank where you can save and keep them secured.Cryptocurrency may be the best online investment today but you cannot have an assurance if it will really last for longer years or may just disappear by just a blink of an eye. In the meanwhile, make your own research about the altcoins that are in progress and that you are sure they will reach a high value in the future.
You should never transfer your entire savings to cryptocurrencies. You do not know what will happen in the future and then you will be left without any savings. Transfer a small percentage of your savings to any cryptocurrency you want and bit by bit you will be able to gain much profits.
In the meanwhile, make your own research about the altcoins that are in progress and that you are sure they will reach a high value in the future.
In the meanwhile, make your own research about the altcoins that are in progress and that you are sure they will reach a high value in the future.
I have divided my savings into many parts. Mutual funds, properties, gold, and cryptocurrencies are the main division. You may think cryptocurrencies would be the one yielding the most and yes there is no doubt that but I don't wanna take a risk of losing everything for my greed.
Only a stupid person can call you greedy. I fully agree with you and support your direction and thinking. Only in many areas need to develop their investments and worry about the safety of their capital. I think that this is a normal activity for the truth of a business person.The future of crypto is very bright and I say you are building your future now.
Anyway it is a very big and dangerous risk to take, definitely you know what you will get taking such a very big risk it can't be a coin without any potential to give you gain for putting such stake on it. I know you know what you are doing.
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