is it risky to turn all my money to bitcoins?

[babygun]

The main rule of the investor is the diversification of risks. The more different currencies in your portfolio, the less likely the loss of your savings. I have a rule 50% - btc, 50% altcoyins.

Indeed, never put all your money in one basket. Always diversify your portfolio, I have now around 60% in BTC and the rest is LTC, ETH, XMR.
But don't invest all your money in bitcoin, start low and do some research. Only invest with money that you are willing to loose.

[Fundalini]

Bitcoin is not yet popular enough to be used in many groceries and store, how will you manage the instant transactions everyday or paying services using bitcoin. Imagine the hassle

At least save a certain percent of your money for daily use and then do what you want with the remaining money.

[Tenderino]

It's always risky to turn all your money into one investment! You shouldn't invest more than 20% of your hole balance into one type of investment and this also not if it's something very successful like bitcoin. Because you can't conclude from the past to the future.

Having your money sitting at a bank is the worst thing you can do, as the inflation will it its value in 10 or 20 years.

[loty1825]

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

Money that's sits in the bank is bad investment because you loose for sure because of inflation. You do get some interests, but they are lower than inflation, so in the long term your savings do loose value. I was in that dilemma too and decided I don't want to waste my money in the bank anymore. I always hated the idea to invest in some funds, because I find it hard to trust anybody with my money but myself. So I invested it all in crypto and after half a year I made very nice profit. No chance I could make nearly that much out of bank interests by the end of my life, and by that time that profit would be worth much less because of inflation anyway. But I have diversified the portfolio, keeping it in one single coin, even if it's Bitcoin is even more risky, than spreading it between several coins. A large part of portfolio is in coins with large market cap, and the small part I invest in smaller coins and ICO's that have potential for high profit in short term. And when I collect profit of those I turn them into larger, more stable coins to grow my portfolio.

But it's still very risky, my life doesn't depend on the savings I invested. If I lost everything I could still buy food, pay bills and have roof over my head. If you know you will depend on those savings at one point, don't go all in. Just invest some small percentage, maybe 10% or so.

[BitcoinMarshal]

Bitcoin is not yet popular enough to be used in many groceries and store, how will you manage the instant transactions everyday or paying services using bitcoin. Imagine the hassle

At least save a certain percent of your money for daily use and then do what you want with the remaining money.

Yea its never been good idea to turn all your money in bitcoins because currently we cannot fulfill our daily requirements through we need some other sources also for this purpose you could be in troubled as some time prices goes down and you want to cashout better divide this and then convert for your all requirements

[sapnu]

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

I think it is risky to convert all your money to Bitcoin since Bitcoin is volatile. It's market value changes every time which would be a risk. You should still need to make sisure that you'll also have fiat especially if Bitcoin is not yet legal to your country. If you're fully decided, you may convert half of it becausr surely, you'll make use of the regular currency.

[ninche]

of course it is risky so it depends on how much you need your money cause you may lose it all

[Bitcoin Guy]

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

Does "all" include money in the IRA and in the pension?

I would invest most the idle money in the bank into Bitcoin and keep some for emergency.  I would not touch my IRA or pension money though.

[btcdepo]

not just bitcoin. think like this; it is risky to invest all your money in one instrument. you should learn to have your eggs in different basket. that is the golden rule in investing.

[eaLiTy]

Bitcoin is not yet popular enough to be used in many groceries and store, how will you manage the instant transactions everyday or paying services using bitcoin. Imagine the hassle

At least save a certain percent of your money for daily use and then do what you want with the remaining money.

I am sure the developed world has heard about bitcoin,not everyone might not be using it but sure they would have heard about it,turning all your money into bitcoin does not really mean to invest each and every cent you got,there is a percentage we set aside for every thing and make sure you take bitcoin as an investment who has its own risk but the profits you could earn is high.

[finzyoj]

It's risky no argument in that ..BTC cannot be replaced with all your money cause the BTC market is highly volatile..Bitcoin has not that level of security as much as real money ..People can lose all their money in a couple of seconds in bitcoin. mainly the insecurity is it's fluctuating price if you are an investor you would not prefer to change all of it into some currency

People can lose their money in couple of time in bitcoin if they got panic because the price fluctuates either increases or decreases. For me, I would not take the risk to turn all my money to bitcoins. I will save some on the banks where it is more safe but I will continue to invest in bitcoin also and do tradings to gain more profit.

[Portia12]

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

Yes if you want to invest your money with bitcoin you need to shoulder the risk because bitcoin price is very unstable there are possibilities that your money will decrease or increase. The risk is when your money is decrease but youll be happy when you got a high profit when bitcoin price is increase.

[zarados]

The main rule of the investor is the diversification of risks. The more different currencies in your portfolio, the less likely the loss of your savings. I have a rule 50% - btc, 50% altcoyins.

Agreed, there's always a risk for an investment, but in cryptocurrency, the risk are different. Just like other member says that you better split your

money into some percentage of bitcoin and alt. ethereum, dash, litecoin, and ripple are good alt. cuz all cryptocurrency has its own fluctuation,

so make your money split into two or more crypto are the wise strategy.

[Yukyzu]

it is very risky, if you are a beginner you should learn to monitor the market and the btc world to to exchange all your money to btc. because if you change everything and do not know how to process it you will get big losses.

[airdrophunter]

I don't think it is risky when Bitcoin is stable and a long term cryptocurrency in the market? Afterall, its value will even go higher up to millions in the next decade.

[Mike Mayor]

Yes it is risky. Everything carries risk. If you believe in Bitcoin show your dedication by converting what you have to BTC. I did it and I've never looked back. The drop to $2000 was a scare but as I knew it would it got back up to over $4000 so seeing bitcoin get through that strengthens my faith in the technology even more. Nothing can beat or bring down bitcoin. They have already tried and failed miserably. xD Good going Bitcoin !!

[oloveloveo]

Yes it is. Bitcoin is very unpredictable. Sometimes you just miss a great opportunity in a minute if you don't take action. But i think you can lower the risk if you read about bitcoin news. There's a lot of speculations and predictions as to what will happen about bitcoin in the future. It can help you and give you a much better direction as to what to do. But in the end the decision will be yours because your the one who will invest.

[Zalfa_mui]

I think it is very risky, you should invest from some of your money, don't make all your money into bitcoin. bitcoin prices continue to progress, but that does not mean all our property is made bitcoin, it is very risky.

[ufaiz50]

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

if you convert all your money to bitcoin then you want to finance your life with what? because not many provide payment via bitcoin. besides bitcoin does have a big risk as an investment but behind the big risks there is a big advantage compared to other investments in my opinion.

[valentine401]

I think it is very risky, you should invest from some of your money, don't make all your money into bitcoin. bitcoin prices continue to progress, but that does not mean all our property is made bitcoin, it is very risky.

Well its not really reliable to turn all your money into bitcoins because the value is not consistently increasing and basically it depends on the supply and demand in the market. I recommend that every investor that wants to start trading to earn bitcoins is to study very well on how the market circulate.