Hi there.. my grandson says I should get some sort of crypto currency to put some of my savings in.
Savings are meant to give you an assurance that if ever there will be a time that you need urgent money, you can able to cover it. Putting your savings into cryptocurrency needs a deep analyzation, understanding the risks, patience, etc.
There are lots of "What If" that you need to consider before deciding to "RISK" your savings funds.
I am hoping for big returns so I'm a bit scared of getting bitcoin since it has been going down in value.
That's one of the "What IF".
You have lots of reasons to believed that bitcoin will able to reach some of our desired price targets. However, what if there will be a time now that you need to use your savings funds (that you put in crypto) for something important but bitcoin is currently dealing on a bear market which drastically put losses on the value of your holdings? You will be forced to sell no matter what.
Bottom line: Understand all the associated risks once you consider putting your money in crypto. This is not a joke so you need to be serious. We can't just say "hey put your savings into bitcoin" even how optimistic we are in bitcoin's future.
