is it risky to turn all my money to bitcoins?

[12tribes]

In my opinion, it is. Never put all your eggs in one basket. Wise investors don't do that no matter how alluring and profitable a venture may be.

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[tanghere1]

If it's just sitting on the bank (which is 3-5% per annum) then I strongly suggest that you convert it into bitcoin. Risk is a part of being a bitcoin trader. Go big or go home.

[Netnox]

If it's just sitting on the bank (which is 3-5% per annum) then I strongly suggest that you convert it into bitcoin. Risk is a part of being a bitcoin trader. Go big or go home.

People deposit money in bank because they need liquid cash. If you face any emergency situation, then you can quickly withdraw them. But if you convert them to Bitcoin, and suddenly the prices fall by 30%, what you are going to do? I strongly advice everyone here not to invest more than 10% of your net wealth in to Bitcoin.

[Chainblock]

It is risky. Bitcoins is still relatively new and its value/price can fluctuate a lots. It can appreciate a lots from here but can be worthless as well. Hope it will not become worthless. But the risk is there.

[nusnay]

Turn all that you have into bitcoin and wait for it in 2018, you will become a billionaire unexpectedly.

[posoa]

It is a very risky thing to do , you cannot  use all your money to buy Bitcoin, because it is a very risky thing to do, there are other pressing needs that may arise , you can not wait for the bitcoin to appreciate before you will sell them so as to meet your needs. It will be wise if you can save about 50% of the money in the bank, not because of the interest but because of urgent needs that may arise, that will definitely needs cash to settle it.Everything in life needs planning so as not to run into problems. With 50% investment in Bitcoin and it then happens to appreciate in a very less period of time, then You can reinvest into bitcoin as it will be convenient for you

[CryptOliver]

the risk must exist, because the bitcoin price changes every time and it is difficult to predict when it will decrease and rise. the risk if the price plummets down, but the profit is just waiting for the bitcoin price to rise from the price we buy.

[Windyyy00]

I never thought I would turn all my money into bitcoins. That is too risky, the future of bitcoin is uncertain. If I invest heavily in bitcoin, when the state forbids bitcoin I will lose all.

[michkima]

It sure is damned risky, but it is a good risk. If you did what the Winklevoss brothers did in 2012-2013, then you're likely a millionaire by now (or a billionaire even). They only have like 91,000 bitcoins and they are a billionaire, but still extremely far away from the net worth of Mark Zuckerburg those guys are, but they'll get there if the prices reach about $1,000,000. Oh well, they will have to wait till 2020 to be as rich as Mark.

[bramcleeren]

only put the money you can effort to lose.
I think it's good to invest the big part in bitcoins and some little part in altcoins like NEO or other altcoins.

[Jeric_]

Turning all your money to bitcoins is not a smart move. Bitcoin investment cannot be readily liquidated and may take sometime so it will be a problem in cases of emergency that you'll need readily available money. Always invest what you do not need immediately and keep a certain amount at hand, you'll never know when you'll need it. Also there are still only few establishments/businesses that uses bitcoin.

[saffira]

Turning all your money to bitcoins is not a smart move. Bitcoin investment cannot be readily liquidated and may take sometime so it will be a problem in cases of emergency that you'll need readily available money. Always invest what you do not need immediately and keep a certain amount at hand, you'll never know when you'll need it. Also there are still only few establishments/businesses that uses bitcoin.

Here in our country I only know one application to convert bitcoin to cash. That is why I think it is risky because there is a chance to lose everything you invested. That is why in my case, I invest only the bitcoin I earned in this forum. I am not buying bitcoin from my savings.

[jkoin]

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

All operations with money always carry risks. If you decide to invest somewhere or buy something, be prepared for the fact that you will lose all your money. But without risk, big money is not earned.

[kengeorge21]

Of course it is risky but it depends on how you will manage it, I suggest for those aspiring traders that do not put all your money in any investment, just save enough money for emergencies, personal consumption, bills etc.

[ui_zakharchenko]

Hey guys, what Crypto Wallets do you use and prefer? I'm currently using Cryptopay because of the benefits suiting my needs at the current time.

I would be interested in finding out what you guys think too?

[skull_pro]

It is highly risky!! I wouldn`t invest in cryptocurrencies more than 50% of my resources.

[ghost07]

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

Yes it is very risky to invest all your money to bitcoin but it has a high chance to have big profit.

[Geoll29]

I do believe it is risky since changing all of your money to bitcoin means leaving nothing in your pocket. You must invest a part of your money and leave some for yourself.

[Fappanu]

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

Definitely.  We are talking about your ALL money.  Better to just keep some and then buy some bitcoin. Well considering the price of bitcoin right now, it is a sure profit if you put all your money into it.  But of course save some for your daily expenses.

[randal9]

it is basically not wise to invest all your money in one place...no one will give you 100% guarantees...you need to turn on the mind and act reasonably