Transfer My Entire Savings to Cryptocurrencies? - page 23.

Tamilson

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Quote from: kaysersoze on December 18, 2017, 01:23:12 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.

carlisle1

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Quote from: LeGaulois on December 04, 2017, 01:08:37 AM

I would never put my entire saving in cryptocurrencies.

Let's be honest, it's true that the market is performing very well but you don't know what can happen, and you can't deny the risk to lose money (for whatever reason, I am not talking about to be hacked or something similar, it's something that you should take care with everything).

If you diversify your portfolio you minimize the risks of loss, diversity is a golden rule in investments. To be greedy often lead to the wrong decision, especially when you're young. Use a little wisdom, it will be more beneficial in your decisions

trully mate we must put amount that we are afford to loss.investing all
your savings to crypto?what if something went wrong and the system collapsed?
what would be your recovering capital?just dont invest all your assets here we all
believe that bitcoin can make us rich.but this will also brings us to the lowest level
of livig in which is called poor.

hritevanz

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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.

Making a decision is not easy thing to do especially when it comes to money and for me, it always depends on the situation. In my opinion, transferring you entire savings to cryptocurrency is not a good thing to do because for sure, you'll be needing money in case of emergency and for your daily expenses. Splitting it into half would be better if ever something bad happened. I'm not a negative thinker, I was just thinking of the consequences in transferring all your entire savings to cryptocurrency.

bribed

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Well, as the crypto space is just making a name of itself its likely that we will see a more widespread adoption, but thinks could also go south and everything could crash for example if regulators start to ban crypto to maintain the old financial system etc.
I think putting life savings into crypto at this point is very risky and I would definitely think twice about this. If you are up for the risk, you can go for it, but if it would hurt you badly if you loose it all or most, I would step away from this idea and only put in what I am willing to loose.

onrise

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Quote from: zmkriel on December 18, 2017, 08:01:48 AM

Quote from: Idrisu on December 04, 2017, 02:11:58 AM

This is a good plan but I will advise you not to put all your savings into crypto currencies as this is too risky and you may not be safe financially doing that. I will said you should put around 50% of your savings into crypto currencies and the remaining 50% in the bank and stocks as you have been doing and get positive results. Bitcoin investment though very profitable has a lot of uncertainty in future. No one knows what is going to really happened as governments all over the world has been kicking again it advancements.

I so agree with what you suggested but as kept on saying with my post about decision making. The decision will always be depend on the holders. But personally, if i will to decide for my savings. 50/50 is the best in anyway you will still earn in both investment.

Till the time you have a good risk taking ability and are young and can earn income from other sources at present you can invest some form your saving . One of my friends some days ago had invested 70% of his saving in cypto coins and today he has some 40% rise in few coins so he has sold some of them and few he is still holding it.

He said to me that even his savings become half just in case for now he can still support his family as he is earning a regular income from job. So well his risk taking ability is high so can afford it.

kiwasmose

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I have left the stock market and don't know which country you are in. I think only a large capital and professional investment company can make a lot of money in the stock market. The stock market is less profitable, but the risk is not too big, and the encrypted currency market is just the opposite. I think it is the most prudent to decentralization of investment.

bamb

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Dependng on how long you fund stay in cryptocurrency! If you are looking at a long term, that may not be a good idea. But if you stay six months, there is nothing wrong with that. About security, Find the meaning of cryptograph! Bitcoin is the most secure currency including many of he haxadecimal based addresses of many altcoin. Theft only happen when people make mistake.

zmkriel

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Quote from: Idrisu on December 04, 2017, 02:11:58 AM

This is a good plan but I will advise you not to put all your savings into crypto currencies as this is too risky and you may not be safe financially doing that. I will said you should put around 50% of your savings into crypto currencies and the remaining 50% in the bank and stocks as you have been doing and get positive results. Bitcoin investment though very profitable has a lot of uncertainty in future. No one knows what is going to really happened as governments all over the world has been kicking again it advancements.

I so agree with what you suggested but as kept on saying with my post about decision making. The decision will always be depend on the holders. But personally, if i will to decide for my savings. 50/50 is the best in anyway you will still earn in both investment.

rickadone

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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.

kaysersoze

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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.

ngacengan

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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.

it seems better to move to a more secure exchange market like binance or bitrex lest your money steal because it is very harmful to you. leave little in the stock exchange to play a little there.

Jasell

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As they say, Diversify your investment. Don't transfer all your savings to crypto just leave some for stocks. Equip yourself first with the necessary skills before deciding whether or not transfer a bigger portion of your asset to digital currency.

LeChatNoir

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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.

I would never go all in, put at least enough money on the side to live off for one year, if your really young and want to go riskier then go for it and use the rest for crypto. I use Bitstamp a lot.

South Park

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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.

You seem to have a good understating of trading and investments a basic rule is to not invest everything in a single investment, not only that you seem to be eager to invest your money in altcoins and not in bitcoin which means you are going to take an even greater risk than many people in the forum are taking since most holders hold bitcoin and not alts.

Indrawan77

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It is better to split your investment however we need to follow the flow of the market maybe you dont need to put yoo much on the stock, because crypto is the hot trend, I am sure you gained more profit in crypto currencies, but it is still a good idea to have a back up plan, maybe 70% in crypto and 30% in other investments is a great proportion

elloco4ever

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Quote from: Sarastiche on December 17, 2017, 02:14:36 PM

It is good to spread your risk and not haveyohr investment stack in a particular segment. Investment in cryptocurency is the wayo go in this age,share lose value and return on share over the years cannot be compared to what crypto pays.but ensure yu research well on the coin you want to invest in.

That's a nice piece of suggestion but I still feel investing everything into crypto will not be a smart choice rather you can invest 50% of funds into crypto and then once you start getting profit you can invest it back into crypto by being upto date and spend more time going through the factors affecting crypto world

okala

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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.

I will advise you to get an hardware wallet and buying some coins and save them in that wallet instead of opening account with an exchange and bought coins an keep them in exchange. However I read a thread were the op say ethereum is going to hit $5,000 in 2018! If this happens and you get some ethereum now and save them in your wallet with the aim of sale them this time next year you will seriously make good profit. Hope this help.

Gabb

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Nobody in their right mind would be willing to invest all their savings in a market as volatile as the cryptocurrencies, where the uncertainty is usually even greater than in ordinary markets and cause the tremendous waves of volatility that already characterize this market.

As in any moderately responsible investment scheme, perhaps you should confine most of your savings to the current conservative scheme that you manage, and only risk 20 or 30% of your savings in cryptos.

finzyoj

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Quote from: Gotottack on December 17, 2017, 09:46:18 AM

I do not subscribe to the idea of putting all eggs in one basket. I am a believer that nothing is ever guaranteed hence you have to play smart at all times. While I am a solid believer of Bitcoin, I still do not recommend you to transfer your entire savings to cryptocurrencies because you would be putting too much risk on ALL your hard earned money. That move is not so bright and can in fact make you down to zero.

Always diversify in business. It is ultimately the key to save you from exigencies.

right, it is not wise to put all your money in crypto currencies when you could just use a portion of it and the rest, plan to develop a business that you know is in trend and which you like. For me, savings are very important especially for emergencies. We do not know when exactly we will be needing some money so keeping an amount is very important. Don't rush things out by risking money in crypto currencies, it may be in trend now but its price is not always on the rise.

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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.

Game changer but how... If you get the promising ones, you can get into rich world. If you picked the unlucky ones, nightmares would start in the night time for you always.

Topic: Transfer My Entire Savings to Cryptocurrencies? - page 23. (Read 4072 times)