Topic: What should I convert my money into? - page 7. (Read 1529 times)

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.

Gold can be option, because Gold's price is tend to always increased. But to make investment in gold it is better to use very high capital. Because time to wait will worth if we can get high profit from it. If medium investment, still bitcoin is best. Although risk is almost same with profit, bitcoin still be best option in digital investment so far.

if we didnt want to convert on fiat, we could convert it into other investment portofolio such as gold, property or anything else.saving fiat only give security, but it didnt give us good return from its value.if we still save it in crypto market, we could diversify our profits into good altcoin such as eth, ripple , binance and many other.we should not worry with this coins, as major altcoin these coins have good performance in market.

The development of bitcoin in the future although it is quite my strategy is actually a bit risky with the political interference that can play around with the price of bitcoin. It's been almost 2 years that there are quite a lot of issues from politics that make the bitcoin market experience a lot of ups and downs. Last this month China made sentiments that made bitcoin prices rise

Buying bitcoin is also a good idea but make sure you hold it for a long time. because I realize that people who intend to buy bitcoin often rely on it a lot, hoping that it can bring big profits in the shortest time.
That would be the most misleading mindset and you need to set up a discipline board when investing long term to make sure your portfolio is on the right track.

The development of bitcoin in the future although it is quite my strategy is actually a bit risky with the political interference that can play around with the price of bitcoin. It's been almost 2 years that there are quite a lot of issues from politics that make the bitcoin market experience a lot of ups and downs. Last this month China made sentiments that made bitcoin prices rise

When the time comes and I feel the same with you OP the possible devaluation of our currency in our country I will not hesitate to put all my money in bitcoin all in I really believe that in the future digital currency like bitcoin will be the our hope its decentralized and no one can control it its must be very valuable asset in the coming years Im sure.   

You need to set discipline from each investment strategy that you'll going to use inside this market. People who are being mislead by the mentality of quick benefits often suffered bigger loses, if you put the right mindset you will going to open the wider opportunities for you investment. Always make sure that you are aware with every possibilities including the risk that inside this industry.

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, dear terrorist-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.

This is a good start.
Now, you probably know that Bitcoin (and altcoins) prices variation/volatility is big. This makes Bitcoin an interesting investment if you have money you afford to lose, but not "safe" as "savings account".
Bitcoin price, on long term, should grow a lot. But there are big falls too and there's a risk that in the moment you need your money the price is lower than when you bought.
Of course, you can be lucky and get rich by buying Bitcoin and catching the best moment to sell. You or your kids..

Edit: I would probably buy Euro, Bitcoin and maybe gold too (although I'm not sure it makes sense for 2-400$)

This is a good start.
Now, you probably know that Bitcoin (and altcoins) prices variation/volatility is big. This makes Bitcoin an interesting investment if you have money you afford to lose, but not "safe" as "savings account".
Bitcoin price, on long term, should grow a lot. But there are big falls too and there's a risk that in the moment you need your money the price is lower than when you bought.
Of course, you can be lucky and get rich by buying Bitcoin and catching the best moment to sell. You or your kids..

Edit: I would probably buy Euro, Bitcoin and maybe gold too (although I'm not sure it makes sense for 2-400$)

Buying bitcoin is also a good idea but make sure you hold it for a long time. because I realize that people who intend to buy bitcoin often rely on it a lot, hoping that it can bring big profits in the shortest time.
That would be the most misleading mindset and you need to set up a discipline board when investing long term to make sure your portfolio is on the right track.

If the global crisis concerning USD is true, it is in fact good for us to hodl much of the BTC we have, as if ever worse case happens, we can have a currency that we can still use universally.

This is a good start.
Now, you probably know that Bitcoin (and altcoins) prices variation/volatility is big. This makes Bitcoin an interesting investment if you have money you afford to lose, but not "safe" as "savings account".
Bitcoin price, on long term, should grow a lot. But there are big falls too and there's a risk that in the moment you need your money the price is lower than when you bought.
Of course, you can be lucky and get rich by buying Bitcoin and catching the best moment to sell. You or your kids..

Edit: I would probably buy Euro, Bitcoin and maybe gold too (although I'm not sure it makes sense for 2-400$)