Topic: Transfer My Entire Savings to Cryptocurrencies? - page 2. (Read 4072 times)
If you are aware on the possible risk that might happen into your life then proceed since its your money after all and theres no person would able to stop you on making such thing. Just be ready on the consequences or results if the market would turn opposite or against you because this would mess up your life because we do talk about entire savings. High risk= High reward but there are really times we do need to secure or diversify or set out back up plans if one thing is messed up.
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 wouldn’t advise you to move all your savings to cryptocurrencies, it’s very risky, there is nothing wrong with it if you leave it in bank. If you want to put your money into cryptocurrency, don’t put all, just divide it and put half of it or any amount you can afford to lose. Bitcoin is risky and profit does not come all the time. I remember that there are people who lost up to 50% last year.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 $1000 in there.
First of all, imo you shouldn't move all your capital to crypto. It's very risky, and you could end up losing more than you think you will. Second, you don't need an exchange to keep your money. Buy the coins you want, download the wallet and transfer your coins to the wallet. It is very simple, and it is far safer.
allocate money in different stock exchanges, because you never know which market is more reliable. regarding trade, I recommend to place large lots on the top coins, and trade only a smaller part of the Deposit. these are basic rules that must be followed. otherwise, your 50000$ will turn into the head more in case of not respecting these rules
Please don't. Please do not put all of your savings into cryptocurrency. To all people considering this, don't do it. I am very bullish on crypto and I believe everything (aside from some horrible scam coins) will go up x100 in price one day (tomorrow or a decade from now, who knows) but I still want you to not invest with ALL your money because in the end this is a volatile market and you may not have the best days so you need some of it at a safer option.
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 wouldn’t advise you to move all your savings to cryptocurrencies, it’s very risky, there is nothing wrong with it if you leave it in bank. If you want to put your money into cryptocurrency, don’t put all, just divide it and put half of it or any amount you can afford to lose. Bitcoin is risky and profit does not come all the time. I remember that there are people who lost up to 50% last year.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.
Binance is the best choice but I will only support your decision if you are going to invest is either BTC or ETH. It is the safest option out there and will still give you abundant profit even if you are planning to make it sleep for 5 years.
switch your money to cryptocurrency is right. however higher in case you invest best the extra cash due to the fact cryptocurrency is volatile investment and viable your money gone if the altcoins that you buy unload or long past. however as soon as the altcoins you purchase boom you may get more earnings.
switch some our money into cryptocurrency is right decision.growth of crytocurrency value year by year look promising to us.for example bitcoin price for some year ago below $1000, but today reach $8k. transfering all the saving into crypto currencies will be very bad move u should be facing lot of problems once the crypto market is on crash mode so dont do that step
Iam using money management for my saving. only doing a trade with 10-15% from my money so whent the market on the bearish iam not really worry 
You can save some money for the stock, do an investment with bitcoin, save for more money for any additional investment. You don't have to transfer your money, you can get some part of it and take some time to know if btc investment works for you better than stocks.
transfering all the saving into crypto currencies will be very bad move u should be facing lot of problems once the crypto market is on crash mode so dont do that step
If you're confident and already have some experince with stocks than go ahead. Bittrex is safe exchange. Cryptopia is good for some lowcaps
For me it is not advisable to turn your entire savings into cryptocurrency because the price of all crypto is not stable and we all know that the market is unpredictable but if you are a risk taker, you can put all your money in crypto so you will have a chance to make many money.
switch your money to cryptocurrency is right. however higher in case you invest best the extra cash due to the fact cryptocurrency is volatile investment and viable your money gone if the altcoins that you buy unload or long past. however as soon as the altcoins you purchase boom you may get more earnings.
If you have flay for cryptocurrency what I will suggest to you is that you invest part of you capital in crypto and leave the rest with the stock. You said it all thet government will insure your stock but with crypto you are on your own if anything happens that makes crypto more riskier of the two.
I agree. While, its great that you trust crypto and show your devotion to the system is perhaps no the best thing to do as the market can still be quite fluctuant. I'd keep some money out of the crypto market just in case.
If you have flay for cryptocurrency what I will suggest to you is that you invest part of you capital in crypto and leave the rest with the stock. You said it all thet government will insure your stock but with crypto you are on your own if anything happens that makes crypto more riskier of the two.
It is very risky to use your entire savings to invest into crypto-currencies, there were a lot of stories about investors who became millionaire after a crazy bull run in the crypto-currencies trading market last year, but it will be difficult to predict when will the next bull market arrives in year 2018.
Im not sure if you have read or heard one famous idiom about investing " Do not put all your eggs in one basket." If you havent, then there you have it. Dont put it all maybe half is safer or maybe the most is 75% and put the remaining 25% for insurance or immediate funds.
Good saying. Never risk with all of your money investing it in the cryptocurrency only. If you have a lot, buy some real estate but if the sum is small...risk!
Here are 26 pages of replies and I bet everybody say the same things about diversification and risks (don’t have the time to check all answers). And they are goddam right. Cryptos are wonderful, they may make you the world king but they also may turn your entire savings into dust. You are young, as I understand, Spend some time and explore the history of dotcoms. Crypto are similar cuz of new and not-so-understandable technology behind it. A lot of altcoins will disappear in a few years. Even large coins may burst. Nobody can predict. That’s why the best option for you is to diversify everything. Left some money in stocks, transfer another part to crypto exchanges, buy major coins like BTC and ETH and send them to hardware wallets, buy house or car or simply cash out the rest. The more types of money (like real cash, investments, digital coins, technique) you have the less risky your entire portfolio is. Trust me, kid 
It depends on the bitcoin you put all your money into the bank when you invest you must be sure
and for sure you'll earn a bit of bitcoin I know there is potential for all crypto coin.
I guess Converting all your saving to bitcoin would not be a wise move, There are far too many ways that your bitcoin can either diminished in value in an instant or be confiscated, As as your saving approach, letting your money just sit idly by is not the best move. and for sure you'll earn a bit of bitcoin I know there is potential for all crypto coin.
It depends on the bitcoin you put all your money into the bank when you invest you must be sure
and for sure you'll earn a bit of bitcoin I know there is potential for all crypto coin.
and for sure you'll earn a bit of bitcoin I know there is potential for all crypto coin.
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