Which cryptocurrency is best for storing money? - page 8.

blackhawkeye1912

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Quote from: Qurelal on October 28, 2018, 05:42:38 PM

I have a cryptocurrency. I kept my money in different currencies. I use coins for payment and I'm not a trader. The situation on the cryptomarket has long been incomprehensible. I'm afraid I'm doing something wrong and I want to ask for advice.
Tell me, please, which cryptocurrency is the best for storing money? What is the best coin to choose? What do you think about this?

If you're planning to store your money in cryptocurrency and have some profit in ths future, you can choose one of the top 5 coins in the market. To be safer, you can choose bitcoin. Now, I think is a good time to do that because the price of bitcoin is low. It might increase after the Bitcoin ETF approval, if approved.

asriloni

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Quote from: Sarisang on January 09, 2019, 11:52:40 PM

I do not agree if using crypto is just to save money. It will be at risk of losing big.
But if wants it and certain decisions then the crypto value is stable and is also quite strong in the market. bitcoin can be used for the solution, in this case, because it is stable in terms of the prices could even potentially on the rise.

The volatility will become the main problem, remember when you are seeing the price of bitcoin being pumped and dumped. If some people have called bitcoin as best coin to store our value and they might not even watch the volatility in the crypto.

daporivera

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Cryptocurrency is known for being highly volatile and also importantly prices of coins are not stable yet. If you choose store your money in cryptocurrency you should be very much aware of the risk associated with it. Rather I would advise you store it in gold Instead.

Sarisang

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I do not agree if using crypto is just to save money. It will be at risk of losing big.
But if wants it and certain decisions then the crypto value is stable and is also quite strong in the market. bitcoin can be used for the solution, in this case, because it is stable in terms of the prices could even potentially on the rise.

0t3p0t

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Quote from: Qurelal on October 28, 2018, 05:42:38 PM

I have a cryptocurrency. I kept my money in different currencies. I use coins for payment and I'm not a trader. The situation on the cryptomarket has long been incomprehensible. I'm afraid I'm doing something wrong and I want to ask for advice.
Tell me, please, which cryptocurrency is the best for storing money? What is the best coin to choose? What do you think about this?

I would personally choose Bitcoin of course as a safest and best cryptocurrency for storing fiat money and when in terms of Altcoins I will go for Ethereum. If you are in doubt mate please don't. You need to know more about what you are going to do and being aware of what would be the possible outcome and consequences if your investment is compromised or you've made wrong decissions. I myself don't like centralized assets that is why I don't have bank accounts and I choose cryptocurrency over fiat money.

jemarie20

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Quote from: Qurelal on October 28, 2018, 05:42:38 PM

I have a cryptocurrency. I kept my money in different currencies. I use coins for payment and I'm not a trader. The situation on the cryptomarket has long been incomprehensible. I'm afraid I'm doing something wrong and I want to ask for advice.
Tell me, please, which cryptocurrency is the best for storing money? What is the best coin to choose? What do you think about this?

If you are talking about best coins in the crypto world bitcoins is the best coins in the crypto world because bitcoin is the most expensive coins, so if you want to invest you money in the crypto world its good to convert it to bitcoin and hold until you get more profit by just holding it.

JeromeL

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Quote from: nitin8263 on January 02, 2019, 12:38:07 PM

These days Cryptocurrency is going to be a popular and most of people want to make a huge money by crypto, Investing in bitcoin and Ethereum both coins are too good to storing money.

People don't just want to make money. They want to increase their capital several times in a couple of days. It is these people that the crypto market punishes most.

pixie85

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Bitcoin is the best. I would also think about anonymous coins like Monero if you don't want the government to watch your every move. Altcoins don't hold value as good as Bitcoin but they offer some advantages. Some of them are accepted on small exchanges that don't follow strict KYC rules and allow you to trade anonymously.

whyrqa-1

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Quote from: TastyChillySauce00 on January 09, 2019, 06:09:16 PM

Quote from: Nastinmel on January 09, 2019, 04:59:08 PM

Quote from: nik9990 on January 09, 2019, 05:07:08 AM

a stable coin in cryptocurrency is usdt, you can keep your money there but do not expect profit

USDT has some gloomy points which don't allow holding money for long - it may come to the attention of sec at any moment. The most reliable method ever is to convert money into Fiat.

I didnt know that holding usdt could carry such risk. Maybe it is right the best way is to convert it to cash but there is also another stablecoin maybe we can try that too even better if there is offshore alternstive other than usdt

Nowadays, Stable Coin, which is famous not only for its stability, has become very popular among users of cryptocurrencies. As an example, you can give a direct competitor USDT - DAI.

TastyChillySauce00

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Quote from: Nastinmel on January 09, 2019, 04:59:08 PM

Quote from: nik9990 on January 09, 2019, 05:07:08 AM

a stable coin in cryptocurrency is usdt, you can keep your money there but do not expect profit

USDT has some gloomy points which don't allow holding money for long - it may come to the attention of sec at any moment. The most reliable method ever is to convert money into Fiat.

I didnt know that holding usdt could carry such risk. Maybe it is right the best way is to convert it to cash but there is also another stablecoin maybe we can try that too even better if there is offshore alternstive other than usdt

raldix00

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Will for me ethereum and bitcoin is still the best storing crytocurrency. They passed many years but still in thier rank. Incomes with the security they both two are still best and never been crack. There some says this two crypto currency will be the future money literally. No doubt about it. Because lot of lot news about them. You can see it in cointelegraph and other crypto blog. Although they are in deel fall today they got still good new that can possible pump.

adzino

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None. Don't use it as a long term asset storage, if you are not willing to take the risks. The prices of crypto currencies are extremely volatile and fluctuates a lot. If you are not willing to take any risk, then don't use it to store your money. Rather stick to those traditional ways, gold and silver.
And don't treat crypto currencies as store of value. Treat it as a currency that can be used for daily transactions.

Nastinmel

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Quote from: nik9990 on January 09, 2019, 05:07:08 AM

a stable coin in cryptocurrency is usdt, you can keep your money there but do not expect profit

USDT has some gloomy points which don't allow holding money for long - it may come to the attention of sec at any moment. The most reliable method ever is to convert money into Fiat.

ninja811

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To invest in cryptocurrency, first of all you need to understand that this may be associated with a certain risk of losing some of the investment.
And of course, it will take a long time to store money in a cryptocurrency, at least under the given conditions on the cryptocurrency market.
Acquire promising coins that give a good result in growth over the course of their existence and wait until the prices culminate in the cryptocurrency market.

papagravel

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Quote from: nitin8263 on January 02, 2019, 12:38:07 PM

These days Cryptocurrency is going to be a popular and most of people want to make a huge money by crypto, Investing in bitcoin and Ethereum both coins are too good to storing money.

Bitcoin and Ethereum are more reliable and have less risk of losing your money.
However, on other, less popular coins, you can earn much more money with greater risks.

Perfect35

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Quote from: Tigra3458 on November 26, 2018, 03:19:33 PM

to save money you need to invest.

Saving money does not translate into investing money. The OP was only talking about saving his money, except he means something else. So, to save money in cryptocurrency, the best way is to buy stable coins directly and hold. If you then are looking at making some profit, then you should invest in coins with prospects. Ethereum at the moment is good for investment, if you will consider it.

bangjoe

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if you only want to save money, I think crypto is the wrong choice because the price is very fluctuating, so the risk of falling is very high, and vice versa, the potential to rise from the price when you buy is also high, therefore many people choose crypto as an investment tool rather than a tool to save money.
I want to ask you if you only want to save then when the price continues to decline do you just let it go? therefore if you only want to save money I suggest that you switch to gold because the price is more stable and even tends to up

Darkoth89

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Quote from: der_troll on January 02, 2019, 12:41:49 PM

I would recommend stable coins, because crypto currencies market is very young and volatile and your money won't be completely safe. Just buy stable coins and even if the market is going to crash, you won't lose your money.

After all the FUD about USDT that comes up on a regular basis, I would stay away from stablecoins.

In my opinion Bitcoin is the best way to store money. However, I think it depends on how long you want to store your money.

Barinerro

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Quote from: figmentofmyass on October 28, 2018, 07:42:23 PM

Quote from: Qurelal on October 28, 2018, 05:42:38 PM

I have a cryptocurrency. I kept my money in different currencies. I use coins for payment and I'm not a trader. The situation on the cryptomarket has long been incomprehensible. I'm afraid I'm doing something wrong and I want to ask for advice.
Tell me, please, which cryptocurrency is the best for storing money? What is the best coin to choose? What do you think about this?

if you're looking to store money, you want stability.

if you consider stablecoins to be cryptocurrencies---and this subject is debated---they would be the most stable. they're pegged to the USD, so their market value usually stays very close to $1. some examples are USDC, USDT, GUSD.

but stablecoins are inherently dangerous because they have centralized counterparty risk. if the U.S. government decided to shut down gemini, the value of GUSD (the gemini dollar) would plummet. same thing for USDT if tether got shut down by regulators.

that's why i'd recommend bitcoin. bitcoin is the most stable decentralized cryptocurrency. it holds value much more reliably than altcoins and tokens, and because it's decentralized, your coins are safe from the risks of third party trust (as long as you hold your BTC in your own wallet).

Well, I do not think that stablecoin dangerous now there is for example the usdc, he passed the test of many companies and I think to keep the money in this coin, you can safely and not worry

nik9990

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a stable coin in cryptocurrency is usdt, you can keep your money there but do not expect profit

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