is it risky to turn all my money to bitcoins?

[Berk]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes investing is a risks but still some people do invest for there business.  But not all money. 
Investing your all money can increase the chance of losing. So you should invest low like 1000 or 2000$ would be better depending upon how much total amount of  money you own.

It doesn't increase your chance of losing it it's just more of an impact if you do lose it. Actually by investing and holding coins in bitcoin you are increasing their value so therefore investing more is actually helping you increase the chance of earning more in the future even though thats a small percentage.

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[Slipknot79]

Sorry mate. That would not be risky but just plain stupid.

[rathaha10]

Actually its a smart thing to do in my country if you are cashing bitcoins you must pay 5 or 1% tax of it. So if you cash everything once you can pay less and have more money.

This is only in my country i don't know what the law of your country is. Better to check them out.

[Bitcoinislife09]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Actually, turning all your money to bitcoins is a risky idea, and there are very few people who are brave enough to do it. In banks, you are secured that it would be increasing very little because you store it, but in bitcoin, everything is different. Bitcoin's price is volatile and you are not sure when it will rise or fall. Good thing here in bitcoin is that if it falls then there's a possibility that when it rise, it will be higher than before.

[dg2010]

I think you should spend 50% your money to invest in Bitcoin. If you turn all your money, it is very risky. The rest money, you can buy altcoins or invest in the Stock market.

[terbetet]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes of course. Sticking into just one currency specifically to currency type which is a crypto which is generated and operated online because as we all know that these type of currencies are really volatile although it is a normal characteristic of currency, still it is risky because we do not know if the technology will remain stable or might malfunction in any way around. So it is still better to make it apart of having both real money and digital money to secure your funds.

[SureLockLoans]

No matter the circumstances you should never risk it all some people will get lucky and swear by this method but this isn't smart the majority of the time but silly and very lucky.

[Spain2000]

Another option is also available put some of your money into bitcoin and use some of them for other altcoins the reason is simple you will be relaxed because in these you will get a chance of becoming rich as soon as possible many people are trying to invest their whole amount of bitcoin for profit. Bitcoin is ready to make profit so it is good to convert your income into bitcoin and to make money from this decision.

[Nefarious]

Invest only what you are comfortable with losing & keep a diversified portfolio to help manage your risk.

[Nilda]

Yes! Never put all your eggs in one basket. You should diversify your investments. Stocks, bonds, gold, real estate, bitcoins...

[Saimoon]

Of course it is risky to turn all your money into Bitcoin. You can invest some of your money into Bitcoin and save some of it. You should invest your money in several field like stock market or you can buy altcoins. Never invest all your money in one place. Investing all money in one place is very risky.

[Omega Weapon]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes it is risky, you can make great profits that is undeniable, but the money in your bank cannot go down while the money your bitcoin is worth can go down that is the biggest difference, and if you happen to need that money for an emergency it is going to be a lot more time consuming to sell your bitcoin and then wait to receive your fiat in your bank account than it is simply to withdraw that amount from the bank.

As mentioned, it has got risks along with the growth as an attachment. Here one need to understand that, for the risk it has the higher will be the earning. As mentioned bitcoin price fluctuates in unexpected time, but the same haven't made users into loss if the user have patience. For emergency requirements it's good to keep certain amount in banks, so that can be withdrawn without much complications by the time of need.

I can agree with this, a person may decide to invest as much money as he wants in bitcoin as long as that person knows what he is doing, however we need to retain an enough amount in hand just in case we need it, after all we never know what it may happen, maybe your car breaks down or you have a health issue and you need to be able to access to your cash as fast as you can so you can solve issues like that in a timely manner.

[Irdina]

Yes it is very risky,Should not turn all your money into bitcoins,Change some of your money better,Because bitcoins are so insecure,Many hackers are after bitcoin,If we are not careful, our bitcoin can be stolen by hackers.

[5moke]

yes it is but I say no risk no fun ^^

forget the low bank interest rates you just have to know when enough is.

I would recommend you however other coins as well as deep onion coin which are still at the beginning and the profit margin can only shoot to the height.

[gambitcoin53]

all kinds of investments are paired with risks, obviously, bitcoin is a medium for investments, when you enter the world of bitcoin, you must be prepared for any risks, sometimes you win, sometime you lose, what is more important is you have a very good talent in hunch, whenever you feel like selling at the right time, go ahead.

[Clavulanic]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes it is risky, you can make great profits that is undeniable, but the money in your bank cannot go down while the money your bitcoin is worth can go down that is the biggest difference, and if you happen to need that money for an emergency it is going to be a lot more time consuming to sell your bitcoin and then wait to receive your fiat in your bank account than it is simply to withdraw that amount from the bank.

As mentioned, it has got risks along with the growth as an attachment. Here one need to understand that, for the risk it has the higher will be the earning. As mentioned bitcoin price fluctuates in unexpected time, but the same haven't made users into loss if the user have patience. For emergency requirements it's good to keep certain amount in banks, so that can be withdrawn without much complications by the time of need.

I can agree with this, a person may decide to invest as much money as he wants in bitcoin as long as that person knows what he is doing, however we need to retain an enough amount in hand just in case we need it, after all we never know what it may happen, maybe your car breaks down or you have a health issue and you need to be able to access to your cash as fast as you can so you can solve issues like that in a timely manner.

That's right every person should determine the assurance of his/her investments. Although it's risky to think of having your money be counted can converted to bitcoin with investments for long term, but its more profitable if that ever sell value will increase eventually. If ever there were certain situations that having you cash back at emergengy scenarios, well you are free to sell but not the whole amount; you only have the  sell what you really need to spend for.

[mornabo]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes of course. Sticking into just one currency specifically to currency type which is a crypto which is generated and operated online because as we all know that these type of currencies are really volatile although it is a normal characteristic of currency, still it is risky because we do not know if the technology will remain stable or might malfunction in any way around. So it is still better to make it apart of having both real money and digital money to secure your funds.

i think there are two things bottom line when you keep all your money in bitcoin, first bitcoinis a very fluctuating so of course it would be dangerous for your finances because it is true what you say we do not know what will happen to bitcoin going forward or where fluctuations will bring bitcoin prices to high prices or low prices and the second you can not buy something because all your money is in bitcoin and not all merchants support payments with bitcoin

[Bakugan]

is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

If you want your money to grow then do not put all your money to bitcoin because bitcoin's price is fluctuating and if you don't understand what it is then you will just regret it. Better to invest half of your money on bitcoin then the other half is on the bank with your currency, it might takes time but at least you still get some profit from the interest of your money.

[luigidosado]

Turning all my money to bitcoin? Man, that's very risky! It's like putting all your fruits in a single basket in front of a lot of people. The value of bitcoin changes over a period of time. It either increase or decrease it's value depending on the market. Turning all your money to bitcoin would be a very big risk for you but at the same time you can also earn. Everything will be depending on the situation. What's ideal is that you only get a portion of money you have and turn it into bitcoin. In this case, you still have extra money on hand in case the bitcoin decreased it's value.

[Senja Kemuning]

We must understand that bitcoin is a high risk investment, the higher the chance of profit then automatically the risk level is also high, I suggest not to put all our money into bitcoin, because the decentralization system is always a lot of surprises in a matter of hours or even minutes.