jonathan6655321 (OP)
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October 05, 2017, 10:15:45 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
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terrific
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October 05, 2017, 10:20:39 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes, it's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose. |
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ahmad21
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October 05, 2017, 10:23:09 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Its highly risky. There is no set laws in any country related to it. Moreover its heck of volatile. So investing all your money in bitcoin is going to give you a lot of heart shocks each day. But yes invest 30-40% of your money for long term. |
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joseafonso123az
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October 05, 2017, 10:27:30 AM |
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That's very risky. Let me elaborate, BTC market is still very volatile, therefore can suffer a lot of ups and downs. And suppose you need that money, but suddenly the BTC price got down, and you no longer have that same value, you will be at loss there. I thing you should invest some of that money sitting in the bank, and leave another in the bank. This way you will have money in case of need, and you can let your BTC converted money increase in value throughout months!
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Adbitco
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October 05, 2017, 10:27:59 AM |
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It's not just risky but also not a wise thing to do. The wisest thing would be to have a diversified portfolio. Invest your money in various different coins or businesses for if you lose in one you can cover the losses from other coins or businesses.
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Granxis
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October 05, 2017, 10:30:44 AM |
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Certainly I will not recommend you to risk all your money, because it will negatively affect your personal life, you will have to constantly look at bitcoin prices. Maybe you'll see meaningless numbers in your dreams  |
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vaughn125
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October 05, 2017, 10:33:53 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
I feel you mate. The dream of getting rich with bitcoins is really tempting if you ask me. And that can really make you think of putting everything you have on it. As good as how bitcoin looks today, it might seem like a good idea to do as what you are saying but you see, bitcoin has no assurance. If you lose, then you lose. So it is better if you just go and invest money that you don’t need. And work regular jobs at the same time. To avoid big mistakes or regrets. |
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BitcoinHodler
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October 05, 2017, 10:35:04 AM |
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these questions really have obvious answers!
just take a look at the charts and how price moves. put yourself in those times when price is rising or falling and try to think what will you feel if you had all your money in bitcoin and price went up 20% or went down 20% in a couple of days.
i think that will answer all your questions.
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Holding Bitcoin More Every Day
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batang_bitcoin
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October 05, 2017, 10:36:24 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Definitely it's a risky thing to turn all of your money to bitcoins. But there's an if, if you 100% risk taker and a bitcoin believer you will do this because you believe that there will be a big pump that is about to happen very soon. I don't recommend this thing to do, I don't care if my money sits in the bank and earn no interest or being used for their loan services as long as it's secured there that will be fine. |
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Vatimins
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Activity: 987
Merit: 289
Blue0x.com
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October 05, 2017, 10:41:58 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
You know what pal, there really is no such thing in this world that has greatness without risks. That just doesn’t exist. If you wanna be successful, take a risk. But do not take risks stupidly. Take these risks with great precautions. Being successful involves lots of thinking and patience. Of course risk taking also. Having said all these, I suggest you put half of it as investment and half saved for emergencies. Because anything can happen a minute after now. Good luck pal. |
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SvenBomvolen
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October 05, 2017, 10:43:57 AM |
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Do you think it's not risky to hold money in the bank?  it is risky. But Bitcoin will bring you 300% growth per year, but how much your bank gives to you? 5-10% per year. I have heard stories about people who take a loan in a bank and buy Bitcoin with those money. And it really can be profitable, cause of Bitcoin will give you +300% and for loan you will pay 10-20% provision  So, think yourself what is more risky here and more profitable. |
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hajimasan
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October 05, 2017, 10:44:12 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
In my opinion it will be risky but here to say risky or not will be bad thing because all this will depend upon that person where he lives ( country ) . Here if I will be at your place then I will never turn my whole money into bitcoin Because bitcoin has no official approval by the government of my country to use , so a type of risk or fear will remain in heart that what will happen if the government of my country will take negetive descion or will they ban than what will happen ( Im actual it is not easy to ban but still a type of fear remain in our mind ). But if you are living in that country than you Should turn 90% of money into bitcoin directly without.much tension because future of bitcoin is much better than fiat currency . Here you should also take care that bitcoin is not accepted by every person currently , so to have fiat in your bank account also will be better for you in the case of emergency . |
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tr3yson
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October 05, 2017, 10:47:10 AM |
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Definitely yes! It is very risky but it is still up to you if you are a risk taker then go. But for me, I won't going to do that, just remember the phrase "Only invest what you can afford to lose".
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nelmari
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October 05, 2017, 10:48:23 AM |
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Trading is risky but if you turn your money to bitcoin, I don't think it is risky just be sure you keep them secure and safe so you won't loose them. I had even withdrawn some of my money in the bank and invested in bitcoin and some altcoins.
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Ranly123
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Activity: 952
Merit: 104
★777Coin.com★ Fun BTC Casino!
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October 05, 2017, 10:53:24 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes, its too risky to put all your money to bitcoin, knowing that bitcoin is volatile and can change everynow and then. If you want to invest on bitcoin just try to put little by little until you understand how to manage bitcoin. |
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shimbark123
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CryptoTalk.Org - Get Paid for every Post!
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October 05, 2017, 10:55:59 AM |
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It is not that risky. But it is wiser if you are to exchange your money or buying bitcoins using your money. Well I am not saying that it is risky because the capability of bitcoin is really great. Probably more wise if you will buy at low price.
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sunsilk
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October 05, 2017, 10:59:14 AM |
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The answer is very clear, putting all your money in bitcoin is really risky. I don't want to see people ranting out here in the forum telling that he invested all of his funds in bitcoin.
And while he has the hope of earning big with that amount of investment but later on seeing the price of bitcoin starts to decrease then he's going crazy because his money is becoming lesser.
I would advise that you should not invest into only one investment and just let your bank stay at the bank if you'll not going to use it.
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badungs
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October 05, 2017, 11:02:21 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
for what turn all your money to bitcoin? what about your need? for life everyday, to buy stuff or whatever what you need. you can get more money if you can, but you can loss all your in one turn |
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Granxis
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October 05, 2017, 11:02:26 AM |
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It is not that risky. But it is wiser if you are to exchange your money or buying bitcoins using your money. Well I am not saying that it is risky because the capability of bitcoin is really great. Probably more wise if you will buy at low price.
Right now the price of bitcoin is not low. I would enter this risk at low price. but now the price of bitcoin is $ 4300. At a very critical level. |
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nesty
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October 05, 2017, 11:07:49 AM |
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is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
It is very risky as an invetor do not put all eggs in one basket because the crypto market is volatile if bitcoin decreases you might loose more of your investment but if you know how to play the game of trading you can tolerate the risks you will encounter. |
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