Transfer My Entire Savings to Cryptocurrencies? - page 21.

aencarnaci

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Quote from: rickadone on December 18, 2017, 07:32:22 AM

Quote from: babysweetTiger0401 on December 08, 2017, 05:09:59 PM

Ok buddy, Savings is good but transferring all your savings to cryptocurrencies is not advisable. maybe 70% of savings can be use and the other 30% use that for other things which are important.

In fact, 70% is a lot huge already and anyone doing that is already taking a huge enough risk already. It could be worth it in the long run, but one thing to note is that as much as it could be worth it, something shitty can also go wrong. However, it is a good thing knowing that the crypto space is gradually getting established, so it can still be something of a risk worth taking, but not all in.

At this stage, every smart person should even know better than to transfer all their savings into cryptocurrency. That is just like an absurd thing to do considering that it is a lot of risk to take. The reasonable thing to do is never get greedy and only put in something that you can consider easy for you to lose. Anything can happen and even with the level of optimism, wisdom is required.

I am not in favor of investing all your money in bitcoin because of the unstable position of bitcoin. If the price falls you will lose all your money. So it better to invest some of your savings in any other crypto or regular business, because if one side lose the other will give you some profit and your life will be balance.

But if you invest only in bitcoin it may be risky although bitcoin is growing day by day but for your safety is it far better not to invest all your money.

impulse709

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If you have stable jobs and good earning from that jobs, then you can spend all savings to cryptocurencies. Crypto is great chance to help you change your life forerver Cheesy

fabrizoc

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Quote from: nipu on December 18, 2017, 01:32:15 PM

If you like challenges then you can put all your savings. If not dont want to put your all the savings to the cryptocurrency. Because you can earn much more with half of your savings

Yeah if you’re the dare to invest all your money in one sector then go ahead. But I will suggest you to keep some cash with yourself because life has no guarantee and you may need any time for your financial day to day needs. Then withdrawal form bitcoin may take some time.

Therefore it is better to keep some of your savings in bank. And the other reason is that the price of bitcoin is very volatile and it may drop at any time then you will be very upset to lose all your money.

guesswhat

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Quote from: BitcoinNational on January 02, 2018, 01:58:20 PM

Don't invest all your saving, I will never do it maybe I am wrong but someone gives me a good piece of advice when I started to invest : don't invest much that you can affort to lose. If you feel pretty confident, I would say 20% of your total is already a very nice amount to invest

Dividing is the best thing in these cases. Investing the all money into one asset is really dangerous and if something bad happens, it would turn into a nightmare for you. Better having portional ratios.

Rana590

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Investment on legit and promising crypto currency is always profitable. In my opinion, you can buy some potential crypto currency fromyour savings. But you shouldn't buy through all the savings you have. Try to choose best coin which has bright future and potential. Hope you will cut a good profit from it.

shinchan123

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If you can afford it considering all the risks involved, why not? Before doing so, you need make sure that you have a fallback, we are talking about your entire savings after all. Your gonna have to diversify your investments as well, just in case things don't go as planned with some of your investments, you still have some with strong potentials to lean on.

Golstrim

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Hey, mate, could you share your results? Apart from other people giving you advices I already know, that you have invested just all of your savings in crypto.

BitcoinNational

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Don't invest all your saving, I will never do it maybe I am wrong but someone gives me a good piece of advice when I started to invest : don't invest much that you can affort to lose. If you feel pretty confident, I would say 20% of your total is already a very nice amount to invest

buffbryan87

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If it were me in this situation, i would move 10% from stocks to crypto and play with that for a while until i become confident enough to put more in. It is not a good idea to gamble more than 10% of your holding in something you have no hands on experience with.

dblobee

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As all the others said already it's important to diversify. So all the savings in crypto makes no sense at this point. Speaking about the future of stocks we all don't know it now. Maybe the whole game changes and at some point we ask, is it worth keeping stocks cause stocks are only available for the big old dinosaur companies and not the real innovators etc.

layoutph

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Stocks is so slow, no offense but crypto will give you 30x to 42x profit in a year. Compare to stocks which can give you only a few percentage profit per year. The only big issue in crypto currency is the security of wallets. If you are in doubt of your current exchange site, try to spread it and invest in Poloniex, some from Bittrex, and Binance.

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.

smusanne

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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.

In life it is always wise not to put all of your eggs in one basket, and this is even more true when it comes to investments and savings. While of late cryptocurrencies have enjoyed great success, there are still big risks attached and you should never risk more than you can afford to lose. Split your money across different avenues and you'll do good in life.

mulukey

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If that money does not affect your life then I think you can completely invest your entire savings into crypto. Because the crypto market is very active and developing very aggressively, this is an opportunity for investors to be sensitive to the market. I think this is a very good time for you to benefit from this crypto market.

ukelover

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My advice is do not invest all of your money in crypto currencies Invest what you can afford to lose and dont put all your eggs in one basket. Invest also somewhere else, study what youre getting into, for sure you invested your time and hardwork just to have savings for your future so be careful also.

bribed

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I would certainly not put my entire life savings in cryptocurrencies. Sure, we have seen great appreciation for cryptos in 2017 and this trend is likely to continue for the time being, but there is always the possibility to go the other way as well. Therefore Im always cautious and put only the money in crypto that I am okay with to loose entirely.
Thats the most important rule for me, if cryptos go south, it should not hit me harder than I can bear.

poplolnman

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Quote from: rickadone on January 02, 2018, 07:52:47 AM

Quote from: Svelto on December 12, 2017, 01:02:10 PM

I won’t suggest you to put all your savings in crypto. You should continue investing in stock market and use a certain percentage of your funds in crypto, diversification is the key.

As for storing your coins in exchanges, I strongly recommend you NOT to do so. You do not control the wallet and you never know when will the exchange closed down and whether you will be able to get back your coins. Leave the coins you use for day trading and transfer the rest to your coin wallets. I suggest a hardware wallet such as Ledger or Trezor for this.

I would not suggest that either. Things may look rosy now, but in the world of investments, you should always leave some space for thorns. With that in mind, there is no need trying to be too greedy trying to get all in and for someone who has been into stocks like the OP, no one should even be telling him that as he should know better. It is risky, anything can happen at any moment and all we have is looking out to see where the peak gets to.

Yeah never do that unless if you ready to lose it all , crypto investment have a high risk . If you put your money in crypto to use it in daily basis, I mean to use it transact actively then I guess it could be worth with less risk. Making crypto as an investment indeed risky , you need some knowledge to get started.

rickadone

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Quote from: Svelto on December 12, 2017, 01:02:10 PM

I won’t suggest you to put all your savings in crypto. You should continue investing in stock market and use a certain percentage of your funds in crypto, diversification is the key.

As for storing your coins in exchanges, I strongly recommend you NOT to do so. You do not control the wallet and you never know when will the exchange closed down and whether you will be able to get back your coins. Leave the coins you use for day trading and transfer the rest to your coin wallets. I suggest a hardware wallet such as Ledger or Trezor for this.

I would not suggest that either. Things may look rosy now, but in the world of investments, you should always leave some space for thorns. With that in mind, there is no need trying to be too greedy trying to get all in and for someone who has been into stocks like the OP, no one should even be telling him that as he should know better. It is risky, anything can happen at any moment and all we have is looking out to see where the peak gets to.

BitcoinCommodor

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Quote from: crzy on December 17, 2017, 08:44:34 AM

Quote from: Bybox on December 16, 2017, 10:22:51 AM

Diversify your investment to reduce your risk , don't put all your saving in stock or cryptocurrency. I think you should add some promising cryptocurrencies like Bitcoin, Ethereum and Ripple to your portfolio since they are very well know cryptocurrencies. you can be millionnaire if you pick the right cryptocurrency since x10 is nothing in cryptoworld but remember only invest in altcoin with high liquidity so you can cashout easily. When it comes to storing your cryptocurrencies, you need to store your erc20 and Bitcoin tokens in a hardware wallet.

Diversification is a game changer and that can save you from loosing money. Putting your savings in cryptocurrency is really a good decision but learn to spread it. Invest and hodl good coins so you can have your profit in the future.

We all know that it is always risky to place all your eggs in one basket. This increases your chances of going into loss that too some big loss. Diversification is kind of backup plans, if the plan A fails, you can go for plan B and so on. Among digital currencies, the first choice should be bitcoin and after that you may go for certain altcoins such as neo, waves, litecoin etc. because they have good market as well.

Marrionbitcoin

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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.

In my opinion, just leave your money in the stocks because for me that is safer and you have the physical documents as a proof that you own a stock. You can consider Bitcoin or Atlcoins for trading with the amount you have had but don't withdraw all your stocks. It is very risky to "put all your eggs in one basket" because you might ended up losses so avoid that thinking. Just invest in Bitcoin the money you can afford to lose so you can never go wrong.

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Quote from: furry04 on December 18, 2017, 02:55:14 PM

If I were you I would split my money and invest just the profits that I have made from the stock exchanges because the future of coins is still foggy and no one has an idea what will happen next.

It is obvious that any new coin does not bring you any guarantees when it comes to your investment, only when you begin to invest in some of the most known coins you are going to get any kind of guaranteed profits and even with these coins you never know since you could wait for months and nothing happens and then in a matter of days you earn a small fortune.

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