Transfer My Entire Savings to Cryptocurrencies? - page 22.

coinplus

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Quote from: Jackblack90909 on December 12, 2017, 12:59:49 PM

I think this is a very risky decision. If you transfer your entire savings to Crypto currencies you can lose because the price still volatile and there is no guarantee that it will rise in the future, even for BTC. So invest only what you afford to lose.

Honestly, with all that is being said on this thread every single day, and even with all the experiences in life, I do not understand why people still always want to take this path. Like you said, this is something that is plain risky.

We can say yeah, we have gotten to the stage where things are always going to keep getting better which of course there is no single assurance as no one knows the future, so why will anyone want to take the risk of going all in ?

dektox

jr. member

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If you are ready to lose it, so take this risk, it worth it.
If not ready, it's better to put 8% of savings into CC.

shan05

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Don't put all your eggs in one basket. Investing your intire savings to cryptocurrency is a very risky decision. You can invest at least a certain amount or what you ca only afford to lose. But make sure you have a financial security in case you lose in this kind of game.

nightmanisrightman

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Global Risk Exchange - gref.io

Quote from: Triple on December 04, 2017, 12:26:42 AM

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 you must gamble I would say don't go all but have the spilt be 50 50 between stocks and cryptos. At that point don't take your 25k and stick it on one exchange rather use 5 if not 10 quality exchanges so that incase your funds get tied up you lose one fifth or one tenth of the funds not the things in one go. The key is to always diversify and like you said you are young you will get another chance but you won't know when, seize this one.

xPPx

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NEVER go all in. I don't care if there is a 99% chance of making 100%ROI. The easiest way to deal with investing is simply invest ONLY what you can afford to lose. Good luck!

coinsontheroad

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I think all your savings is way too risky. Diversify. Keep some in stocks and bring some into crypto. Maybe if you really get a feel for it you can bring more in at a later time.

furry04

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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.

South Park

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I am terrible at Fantasy Football!!!

Quote from: promosn on December 12, 2017, 04:28:55 PM

I do read these types of threats over and over again and mostyl all of the answers sound like: never ever invest all your savings in afluctuable market like this. For sure you should have been doing this back in 2013 or back in 2014 or last month but even since I am a strong believer in btc and some alts (ltc, for example), your investment could turn out to be worthless one day...
good luck though

The reason for that is simple most people invest to win and think they are going to win when they make those investments can you imagine your surprise if your life savings turned to zero, you will need to start all over again and your motivation to do so will be very small since you will be depressed.

nipu

member

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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

worle1bm

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Quote from: Triple on December 04, 2017, 12:26:42 AM

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 you should not convert your entire savings into crypto because it is too much risky and anyone won't afford to loose all their savings in just one go so make strategy according to your decision by diversifying your investment at different sources not only stock.Although the market for crypto is doing well at current but future is unpredictable.So its better to keep almost 40% in stock market with good returns and turn other into coins with good potential like LTC and ETH.Rest choice lies with you.

dave111223

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Risky but if you never take risks in your life, your life will be boring and you will never achieve greatness

coino.org

full member

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Oh my goodness, I wish I had 100 mil $ before 21 years old Roll Eyes

So, put about 70% in crypto, 30% leave in stock. And also difersify your money in several exchanges. Also something like 10 thousand I would invest in several ICO.

DanWagner

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It doesn't look like a smart decision , it also depends on your age . If you are young you can make this money back more easy then if you are older.
But since there is so much hype right now i would advise you to maybe put 5/10k in and wait for a year. Get to know this space and then decide if you want to invest more.

Mpamaegbu

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Once a man, twice a child!

Quote from: Triple on December 04, 2017, 12:26:42 AM

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.

First off, let me start with the exchange advice. Yes, you can use Poloniex if you seek an exchange that keeps a clean record against hacks. But I wouldn't pile up that huge amount in an exchange if I were you. Secondly, don't plunge all your savings into a single business venture, no matter how lucrative you think it is. You can do 50% if you think the business is a money spinner.

xsaints128

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Quote from: Triple on December 04, 2017, 12:26:42 AM

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.

No need to go all in cryptocurrency. There aren't any exchange at all which you can trust with your 50000$ because many good and reputable exchanges even get hacked and some even ban your account without any reason, bittrex did so and still didn't do anything about those banned accounts, quite a lot of those accounts had a lot of money in them.

biboy

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Quote from: PrinceCaspian on December 18, 2017, 10:45:29 AM

If you have a good flow of income and you have a lot of businesses that can support your in your daily life then there is nothing to worry abut investing or putting all your savings into cryptocurrencies because if you will put your savings then you will have a chance to earn a lot of money or profit by just investing and waiting for the price to move up higher.

There is a risk if you will put all your savings in cryptocurrency, unless if you will put it entirely in bitcoin only or a little part would be in altcoins, it is your advantage that you have your money that can grow well unlike if you don't even have a bank account or money on it. Go and take risk and of course monitor always your investment.

Oilacris

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Quote from: Triple on December 04, 2017, 12:26:42 AM

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.

Those things you doubt is actually true which cryptocurrency exchangers are entirely different with stock trading brokers when it regards on bad situation do happen specially on hacking incident or any other ways of losing money for its traders. The thing on here that once cryptocurrency coins been hacked it would really be hard to retrieve it because of irreversible nature on most cases.If you do have still doubts as of now then why not try on half of your holdings on stocks to be putted on crypto trading? If you still afraid then better to think it carefully because anything do have its own risk.

PrinceCaspian

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If you have a good flow of income and you have a lot of businesses that can support your in your daily life then there is nothing to worry abut investing or putting all your savings into cryptocurrencies because if you will put your savings then you will have a chance to earn a lot of money or profit by just investing and waiting for the price to move up higher.

alphalifter304

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I would not take your entire savings, I would take 25% at most and use that to hold for a long term. And be sure you have the proper verification setup and storage of your coins so that you do not get hacked and lose coins. The risk and drops are pretty huge with crypto, you put money into the wrong coin and you just loss. I would buy some gold right now, its a good time to buy.

bitcoinmasterlord

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Quote from: Tamilson on December 18, 2017, 10:22:34 AM

Quote from: kaysersoze on December 18, 2017, 02:23:12 AM

We all know that cryptos are hugely profitable, but moving all your life savings here? i dont know if it is a good idea, and trust me, i am a huge crypto believer, but i would never do that.

Remember this roule, you must diversify if you want to success, nothing more.

Diversify and hard work are the keys.

And having a huge profit comes with a greater risk.
Going all in is like putting your life at stake and you don't have any assurance of getting back your money.
Cryptos price now especially bitcoin is really tempting and lucrative so no wonder many will take all the risk just to have a big profit without knowing that there's a big risk behind it.

yes now the price of the bitcoin and altcoins are tempting newcomers to invest in these coins. But don't make this mistake you have good luck you can make a profit, but when we take a big risk, we have more chances to lose our money. So before putting your hard worked money to take some time and think and invest.

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