Bitcoin Forum

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

About cryptocurrency safe, The answer is yes and no.
I suggest you first to learn how its work and then to decide on concrete steps. investigate first what is the safest way to store cryptocurrencies. Probably the best choice is a hardware wallet, especially if we talk about the biggest amount of money. Holding money on any web service can be very unsafe due to many hacks happened.
Bitcoin is a major cryptocurrency and it's probably the best reference to invest, but here is many altcoins which have a big "perspective", but you need to research a lot about them. I suggest you be within the limits of the top 15 (https://www.coingecko.com/en) on the list.
Also, do not trust everyone, and don't send money anywhere without a good check. There are many sites that offer a high percentage of earnings in a short time, don't believe it because all of the are scam. Here is no free money.

most importantly, never spend more money than you can handle if you lose it..

First thing I want to ask: You're asking about Bitcoin or cryptocurrency (altcoin)?

If you think cryptocurrency is save heaven and always profitable then it's wrong. Cryptocurrency is high risk due to high volatility, the price can changed every second time. A lot cryptocurrency also not safe since it's centralized and your coins could be frozen or controlled. And the worst thing the coin developed by scammer and they stole all the funds from investors.

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This thread not in appropiate section and should be moved to the right place.

This is not the right section/board to talk about here.  There are a lot of thread discussions here in the forums about investing in cryptocurrency, even outside of it you can get an answer.  Many things can happen when you invest in cryptocurrency, such as the unexpected.  Do not forget that investment has two sides, profit, and loss.  There is no best place to invest because if there is, there is already a lot to earn and everyone there is already investing.  Just remember that you only invest in legit and trusted, do not dazzle with too good to be true such as HYIPs / high RIOs in a short time, there are those in this industry but they are considered Ponzi schemes.

What I can see that you are scared of cryptocurrencies and that is normal. However, if you want a safe investment, do what you know.

Obviously, it will not be safe if you didn't at least spend some time understanding what are the underlying risks involved when it comes to cryptocurrency investing in general. Cryptocurrency as an investment is very volatile in nature which can lead to an excessive loss and perhaps can sometimes give a good stash of money if you trained yourself in understanding the science of the market.

Anyhow, there are few investment thesis which you can read to give you a glimpse of what space you are trying to enter.
[1] https://www.lopp.net/bitcoin-information/investment-theses.html

There is no investment in this world that is without a risk. So the answer to your question is No. Rather crypto is way more risky than traditional bank deposits.

If you looking for ways to put up your savings, talk to a bank official. Please dont go into spending all your money into buying bitcoin. Nobody is a financial advisor here, but keeping 5-10% of your assets in bitcoin can be a good store for the future. But make sure to invest into other sectors as well like stocks, bonds, commodities and precious metals (NOT gems, they are worthless).

This is bit scary, when someonr saying to invest his "savings" into crypto. Better not, cause you are putting your money at risk. Only invest what you can stake or accept to lose here. Cryptocurrency is an innovative blockchain product where it can be used to various application however these products arent guaranteed and can only make you loss money if something gone wrong. There are some who earn good but of course they kniw the potential of losing too. Every investment has risk and crypto is way more volatile and highly risky business. Better to do research first.

as a beginner, specially someone who still doesn't know what cryptocurrencies are and how their pump and dumps work, they should stay away from any altcoins at all. it doesn't matter what their arbitrary ranks are in some ranking system. they should always start with bitcoin and then move on to altcoins if they wanted to after at least 6 months of being in this space and seeing at least some of these pump and dump schemes unravel.

Hello welcome to the forum, there are many things you need to know first before investing,here (https://www.chrishogan360.com/investing/investing-in-cryptocurrency) they are:
1. What is cryptocurrency?
Cryptocurrency is a digital asset use by many as a way of earning money, this is also good for having online transactions.
2. How does cryptocurrency work?
Cryptocurrencies are exchanged by people to people without a middleman. There is no government and bank relation in cryptocurrency, it is all your money and you are the only one who is responsible for using it.
3. Should I invest in cryptocurrency?
Well, this is the question before you invest, do you really believe in crypto? Do you have good knowledge about it then if you yes, you should invest in it.
4. Invest in confidence.
You should also know that investing in crypto is risky, you can lose your money on it because there is no assurance that you may earn from it because of the volatility of the bitcoin. You should be confident, don't be sad whenever unexpected things happen.

Why not take this time to learn different kind of instruments then? Even if you don't choose crypto, you should also know what's the plus and minus to invest in stock, gold, etc. Safe or not is kinda ambiguous, I think you should narrow it down. Take your time to learn, don't rush it just because you want to have some assets. The market is still in red for probably a few months, so you'll still have a lot of opportunity by then. And as always, DYOR.

Thank You to guide me. In a simple world cryptocurrency is risky to invest then move to other side.

What do you mean by "safe"? Cryptocurrency is associated with big risks and big profits. Before investing in a certain coin, make your own research to avoid investing in pump and dumps, find a reputable wallet to store your cryptos and never invest more than you can afford to loose. It is easy to make money in the cryptocurrency market, but it’s hard to keep what you have earned.

The safe will depend on your view because if you want to feel safe, you can invest in gold, which will more stable than cryptocurrency.
But all investment types will have it's risky, so I think that will depend on yours.
You need to know about cryptocurrency before you invest your money.
You can use some money, let say $100, to invest in crypto (bitcoin or altcoin), but you don't have to use too big money to invest if you do not yet understand how the crypto work.
You need to learn about cryptocurrency, so you know what coin you can buy to invest. In this matter, I suggest you learn about bitcoin and invest in bitcoin.
Although the bitcoin price has volatility, at least, if the bitcoin price increase, the price will increase higher than the altcoin.
But it is up to you, we can only suggest, and the rest will be yours.

Safe from being seized and/or frozen by authorities? Yes. Safe from being controlled by anyone else besides you? Yes, as long as you have the right wallet security. Safe from volatility? No. Safe as a long term investment? No.

Depends on what "safe" means for you. If you're looking for something that is somewhat stable and has an assured long-term profit, cryptocurrencies are not it. I mean they did offer long-term profits so far for those who were strong enough to handle big price drops, but the average person usually sells under panic/fear as soon as the market starts dippin'.

Now that you do not have that much of an idea whether cryptocurrencies are safe or not, I highly recommend you to gather as much knowledge as possible about crypto and investments. Don't start off based on someone else's opinion - make your own.

Cryptocurrencies are a new kind of asset. People still do not have any idea whether it's something you should consider safe for a long term store of value or not, so volatility and uncertainty will probably last for at least a few decades.

Cryptocurrencies are safe and profitable if you are effective in using and manipulating it in the market.

Not all investors are skilled and wise enough to control and hold their asset. It does really need a lot of knowledge and experience in order for you to make it profitable and grow your money. Many people doubted cryptocurrency because it is not in the mainstream just like what we traditionally use as an asset like fiat and gold.

But this time, as we are developing and technologies are evolving, cryptocurrency do have a value and importance in the economy and market right now so try to invest on it.

Like the others say crypto currency is either safe and dangerous depends on how will you do, for your first step towards to the success in crypto currency is to learn about what it is and how it works, study it's different form in terms of how to earn because there's plenty of ways to earn in crypto. And even after learning the basics as long as you are investing in crypto to earn you should also study continuously and gain a lot of experience.

If you hold for the long term it will probably be a pretty safe investment. As the use of cryptocurrency continues to increase and adoption goes widespread, the price will only increase.

I personally don't hold any and use it to transact daily, but as a hold it would be a better choice to me than stocks, precious metals, or even real estate.

Unpopular opinion: Take some time and do your research instead of asking us here for investment advice. Investing in certain assets and investing in it's entirety is mostly subjective. What a good investment is for me might look to be a bad investment for you, and vice versa.

The safety of your investment depends upon your knowledge and how you issue a decision, since a lot of factors may influence your investment. Set off on your journey by learning how it works and understanding the potential risk you may encounter. You can explore this reliable guide given by @Upgrade00 for beginners as it discusses what will you need as an investor.
Link: https://bitcointalk.org/index.php?topic=5274097.msg55148762#msg55148762

Since you are much more prone to falling into scams, you may want to read this to be aware of their common tricks and protect yourself from being tricked by scammers.

LInk: Collection of comprehensive guides on identify and avoid scam projects (https://bitcointalk.org/index.php?topic=5125435.0)

Cryptocurrency is a good investment but I suggest having research before investing because investing in cryptocurrency or in bitcoin is a big risk and a lot of times investors could easily lose their money in crypto.

After your research or maybe a friend could help you to invest you could find a wallet to put your cryptocurrency or either find an exchange where you could trade your altcoins.

You could buy and sell cryptocurrency in an exchange and make a profit in it by buying low and selling it at a high price just like a stock market or a business.

Nothing can really guarantee you a profit from this investment if you don't have a good understanding of crypto yourself. Your friend has advised you to invest in crypto, but he himself cannot guarantee that your investment will be successful without knowledge. There is no point in randomly investing in crypto as it can consume a large part of your capital with volatility. Consider low volatility assets if you are not familiar with crypto and are spending a little time learning about proper crypto investing.

Bitcoin is a safe investment instrument for potential investor to pay attention to, but with a high risk. If you can't afford to take the risk, don't invest here. The best advice for investing in my opinion is "don't be swayed by the words of people who say that crypto can provide huge return for investor, but always consider risk before wanting to profit".DYOR

You are in the right place to ask this questions, to invest in crypto currency you need first need to know where to invest you money or savings
1. First thing is you need to have wallet address, you can choose for bitcoin or ethereum this are the top coins that are mainly use for exchange.
2. Then the second one is you need to deposit money to exchange it to either of the two in step 1.
3. Now you need to deposit it in an exchange if you are interested in trading.
4. There is a choice for this keep it in wallet or do step 3.
5. This is very important, don't just put your money or bitcoin or ethereum to invest in unknown coins saying 100x profit, remember that there is always risk.
6. Investing in crypto takes time , and sometimes the price plummet, so always have a strong heart or else, you will loose.
7. Don't let others scam you , with sweet promises or words
if you really don't know what to do there are always do research and create topics so that we can help you out,
Good luck i hope you will be successful
 

Your question has to be addressed with caution because no body knows the real intention behind you asking such question. Were you referring to it been safe from political manipulation, safe as in regards to it been a store of value or been safe from the hands of criminals etc. The fact is no currency or asset is safe from any of the above highlighted worrie.

But the one advantage the industry (most especially Bitcoin) has over other traditional asset is, it give you the power to your finances which means you're in charge of making your assets safe. In the scenario of the market getting manipulated, you have the power to either sell or abstain from such temptation. Investing in cryptocurrencies is a high risk high reward game but that doesn't mean you can't outsmart the system.

By holding just bitcoin and staying committed to just acquiring sats, you can easily avoid having to make decision that would either cost you in future or put you at advantage over the market. Before adventuring into any business, make it a priority to understand what that business is all about meaning you should always do your personal research and not depend on what others tell you but can use those advice/suggestions as guides.

There have always been risks of investing in cryptocurrency. But as described above, the most competent act would be a thorough acquaintance with the theory. So that after you can safely move on to practice. It is necessary to weigh all the advantages of the disadvantages of cryptocurrencies, as well as learn about the principles of digital assets.

Today, there is no such currency that could guarantee 100 percent instant profit to investors. However, all the coins that are in the top meet some positive selection criteria. The most important thing is to understand the risks associated with the dishonesty of currency creators. It is possible to increase your capital prospectively only if there is a good store of knowledge in the financial sphere, as well as a clear understanding of your further actions.

Before you invest your money into digital currency / crypto, I want to show you a little about: Regulation of Cryptocurrency Around the World (https://www.loc.gov/law/help/cryptocurrency/world-survey.php), This rule depends on which country you live in and you can find out everything related to cryptocurrency.

After you know all about the law and everything related to crypto, you just make the decision to invest and trade what you want to do.
You can see and choose a crypto trading site below.

The Top 10 Bitcoin And Crypto Investing Sites (https://thecollegeinvestor.com/21245/top-10-bitcoin-crypto-investing-sites/)

So you can ask your closest friends the best platform in your country that you can invest your money in.

if you have no idea where to invest it, then don't. your friend suggested but it doesn't mean that you have to to do it. but if you are interested or at least curious. learn it, search it, etc.. and if you think you are confident about your knowledge then try it. start with a small investment and increase the investment if you think you can and comfortable with it.

if you know what you are doing? then, yes. but if you don't? no.

This has to be the most accurate answer to the OP's question, once you don't have any idea to what you are doing no matter what it is it will always lead to failure for you do not have a good grip to the nature ofnthe world you are entering. I agree that you ahould learn it first because maybe the time you hear that cryptocurrency is very volatile you might quit thinking about crypto, learn the whole nature of crypto and is to why it is very volatile and if its going to really give you the investment that you have in your mind because you might experience the expectation to reality thing, learning crypto will make you see its reality.

That's is quite risky I'd say. Investing in crypto using your savings is not a bad idea but if as what I have said it is risky so if you cannot afford to lose it then much better if you will invest in something else like stocks. Or perhaps learn more about crypto first before you invest. Personally, investing in crypto was definitely one of the best, however, without enough knowledge would only put you at risk. Regarding your query, it is definitely safe as long as you have enough experience and knowledge. One last thing if you want still to invest in crypto, top tier coins would be good to place it at such as Bitcoin Ethereum, and more.

1. What kind of coin does your friend talking about please specify.
2. Does your friend inform you that there is a chance you may lose money because of the being volatile of the market?

These are the common mistakes of the newbies they are getting dependent on the people and do not secure if this is true or not. Also, the problem you are facing is risky because not all the time the market of the crypto is good positions.

So right now you made a research to open up your insecurity about cryptocurrency if you are wanting to use a bitcoin to store your funds right now I recommended you use an electrum for sure this is the wallet mostly recommended by the other members too.

You got it!  This is what I forgot to say.  It is really important that he should know this on the other side as well.  It is not only positive that you can please when it comes to investment.  So that he does not expect that he will always earn something.  I think he should also be prepared for what might happen when he enters this trend so that he has nothing to blame when it comes to the end.  They say that entering this kind of income is only for risk-takers.  Not only that, but it is also important to have the proper knowledge.

There are several factors to be analyzed
I advise you to study about cryptocurrencies, how they work, what is bitcoin / altcoin, how can I store my cryptocurrencies (cold / hot wallet)
Research in general how everything works, and if this type of investment fits your investor profile. I think it's interesting that you buy some bitcoin to see how things work in practice
One thing I say, in cryptocurrencies don't invest what you can't lose, because the market is very volatile

I'm glad that I can help  :)

I advice that you study first or have a knowledge first on how Cryptocurrency works, investing in Cryptocurrency is risky because of it's volatility do not invest on suggestions and because your friend told you to invest on certain coins, do your own research and see if the coin he is recommending you is really worth investing, it's not always profit.