Anything will do, you can invest it in other things that are not cryptocurrencies or you can go for cryptocurrencies. If you choose to invest it in cryptocurrency I will recommend that you diversify your portfolio and invest several altcoins, in case some of them happens not to be profitable as time goes on.
Bitcoin price has been going down recently and that's what I'm talking about, so you should divide the money and the one you will invest in crypto you should also divide it and invest one part in Bitcoin and the rest you can invest Ethereum, Litecoin, Stellar, Binance Coin and other coins that are going to be profitable. You can also invest in stable coins, there is Gemini Dollar, PAX, USDT and TUSD, and even more of them.
Topic: What should I convert my money into? (Read 1529 times)
By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.
For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.
Sorry to hear about the situation in your country. If you ask me I would rather convert the money into US dollars, because investing in cryptocurrency looks more risky to me. Not that I trust the US dollar that much, but IMO it's less volatile at the moment
For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.
If I have the money I will invest it in cryptocurrency also, but more on bitcoin, bitcoin itself is a good investment , even though I will let it aside and I will not trade it still my bitcoin will profit, and the other half is in eth, because eth is second to the highest grossing next to bitcoin and many investors are in it, so there is a very low chance of being remove that in market. 
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You have a lot of options from altcoins to bitcoin but you should not make a move unless you analzed the market value of those properly. There's no certainty your money will grow right away but you can make sure that you will sooner get some good news if you've picked the right coin. You can also put it in the bank for a while so that it will grow surely but not that much and if you are not going to be satisfied with that, you should pick crypto as an investment to get very high profits but it'll just take up a lot of time first.Many people say the same, you need to analyze the market value? But what that means? You can open coinmarketcap for example and there you can see the current value of bitcoin or any other coin or token. But its only a current value, tomorrow we can have different prices, in a year market can look totally different, and so on.. What you need to do is to analyze the coin you plan to invest in, do people use it, for what they are using it, will more people use it in time..team behind the coin, are they work on development or they sleep...etc.
Holding money in the bank is same like losing money, with 1000 rubles or dollars in a year you can't make more then couple percents, depending on the bank interest rate. With current inflation in a year your 1000 rubles will worth less, cause you will be able to buy less, simple math.
I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dearterrorist-money-laundering scum client.
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
You have a lot of options from altcoins to bitcoin but you should not make a move unless you analzed the market value of those properly. There's no certainty your money will grow right away but you can make sure that you will sooner get some good news if you've picked the right coin. You can also put it in the bank for a while so that it will grow surely but not that much and if you are not going to be satisfied with that, you should pick crypto as an investment to get very high profits but it'll just take up a lot of time first. As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.
For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.
I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dearterrorist-money-laundering scum client.
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.
I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dearterrorist-money-laundering scum client.
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
If you are knowledgeable in terms of different currencies, it is better if you convert or make some investment in using it because it also affects the trade market. There is a possibility that gives you profit sooner or later. But if you think that was not enough for you to make an investment and to have an extra earning better to use the digital currency or the cryptocurrency. There are a lot of coins that may help you to have a profitable income, but make sure you are in the unique path be careful on the where you invest you must take a research about the coins and the graph of it to about the loss of your assets and regret in the end.
I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding.
Only gold is money by some peoples reckoning, you could do worse then that but the problem is its less of a short term exchangeable asset then. So for such small amounts as 1000 you have consider if you will use it in the next year, or 5 or decade. For a pension, gold is very valid imo and also for saving up to buy a house I think also.
Other things people may not have mentioned is a food store, any food which can last a long time and may rise in price alot. Maybe types of oils used to cook, these can store well and its a classic venture to store wines over many years and often they improve with age but that takes some expertise and of course space, the right temperature, etc.
Russia is reliant on oil, they need more people and varied businesses also. The country needs to develop basically, thats its main problem for prosperity. Investment would occur more often but I dont see Russia as an open country personally and I do hold investments there so I hope it improves but people worry which means Russia pays a premium and its harder going.
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Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.
The Russian bank has been accumulating gold but I wouldn't especially trust any central bank to defend capitalism especially. Its best to diversify, the biggest reason to hold onto your national currency is as contribution to future taxes, that is the main backing to most FIAT that it is required as payment.Other things people may not have mentioned is a food store, any food which can last a long time and may rise in price alot. Maybe types of oils used to cook, these can store well and its a classic venture to store wines over many years and often they improve with age but that takes some expertise and of course space, the right temperature, etc.
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I have reasons to believe Russia will finally turn to its African sibling in several years.
Russia is reliant on oil, they need more people and varied businesses also. The country needs to develop basically, thats its main problem for prosperity. Investment would occur more often but I dont see Russia as an open country personally and I do hold investments there so I hope it improves but people worry which means Russia pays a premium and its harder going.
I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding.I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding. 
I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
LOL.. this is perhaps the worst advice you can give to anyone... Ruble has lost more than half of its value against the USD over the past five years and I would regard it as one of the weakest fiat currencies in the world right now. Before the crude oil prices crashed, the exchange range used to be around 1 USD = 30 RUR. Now it is like 1 USD = 70 RUR.
I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
LOL.. this is perhaps the worst advice you can give to anyone... Ruble has lost more than half of its value against the USD over the past five years and I would regard it as one of the weakest fiat currencies in the world right now. Before the crude oil prices crashed, the exchange range used to be around 1 USD = 30 RUR. Now it is like 1 USD = 70 RUR.
It's always been a debate about the best way to secure our money to survive the global crisis. I don't think so
a good decision if we put all our money in bitcoin or altcoins, because as we know the price of cryptocurrency
very volatile. So my advice for split the money you have, like save $ 300 in bitcoin. Then $ 200 buy gold,
and the remaining $ 500 save in stable currency such as dollars or euro.In this way it will be your best way for
your financial in the future.
a good decision if we put all our money in bitcoin or altcoins, because as we know the price of cryptocurrency
very volatile. So my advice for split the money you have, like save $ 300 in bitcoin. Then $ 200 buy gold,
and the remaining $ 500 save in stable currency such as dollars or euro.In this way it will be your best way for
your financial in the future.
Bitcoin is always a really good option, you can make a lot of profits from it when the price starts to go up. There are lots of other crypto assets/currency that you can invest your money into depending on what you want. If you're looking for an investment there will be no other option that is better than bitcoin. But if you need a stable coin you can go for the Gemini Dollar or PAX.
With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.
There is no point in converting money into any thing else if no profits are planned out from this action. Investing money has just one aim, making good amounts of money with ease. Instead of investing into stable coins, he should keep the money and save himself the trouble of this conversion. But if he wishes to become rich in short period of time, he should invest in bitcoin.With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.
Bitcoin is always a really good option, you can make a lot of profits from it when the price starts to go up. There are lots of other crypto assets/currency that you can invest your money into depending on what you want. If you're looking for an investment there will be no other option that is better than bitcoin. But if you need a stable coin you can go for the Gemini Dollar or PAX.
With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.
There is no point in converting money into any thing else if no profits are planned out from this action. Investing money has just one aim, making good amounts of money with ease. Instead of investing into stable coins, he should keep the money and save himself the trouble of this conversion. But if he wishes to become rich in short period of time, he should invest in bitcoin. With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.
I would definitely advice against investing in any of the altcoins, because they are in a very bad state right now. You can go ahead and invest the entire amount in Bitcoin, as the block reward halving is approaching and it makes much more sense to invest in that asset. But investing in any of the altcoins (including ETH, LTC, XRP.etc) looks very risky right now.
Why do you think that it is not right to invest in the altcoin in this there bad state, I think it all depend on the type of altcoin that we are investing it, and the bad state we are talking about is classified into different category, there are some that their bad state is just because of the bear market while some is because of the bad projects that they have. The ones that have bad state because of bad projects are the ones that we really need to run away from, because those type of coins may actually never grow in life again which will be pointless to be putting money in that project, but for projects that are in bad state because of bear market, I think that this is the right time for us to buy the coins now that they have all reached their last bottom for a better profit.
I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.
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