is it risky to turn all my money to bitcoins?

[VeeraS]

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

Of course. but very worth the profit that can get. because that's what we have to know the risks that will occur. besides that you have to have a lot of knowledge about crypto and bitcoin. so you can minimize errors that can happen anytime.

[shadow404]

it is not dangerous even better if your money is not in your bank invest for bitcoin as an additional in the future, in bank your money only stay and will not increase but bitcoin if you invest for trading it can return in keliapatan 2 - 5x

[francesyrus]

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

Definitely it is risky to convert/invest all your money into bitcoin, there are circumstances that when you need real money and suddenly bitcoins' value is decreasing you will lose some. It is better to invest save some of your money on bank and let it grow there.

[franco123]

For me its very risky. Given the fact that Bitcoin is volatile and the govenrment does not yet fully accept Bitcoin, putting all your money into it may break your financial status. As the saying goes, dont put all your eggs in one nest, theb you should put your money in some other investments as well.

There are a lot of other investment instrument than Bitcoins. You can try stocks or bonds which talks about rates also or be an active forex trader. Or if you have bigger amount of money, create a business or be a bulk buyer and investor of real estate.

[Sithara007]

There is a saying that goes "Do not put all your eggs in one basket".
It would be really depressing when you turn all your money into bitcoin and eventually it got stolen through one means or another. So I would advise not to turn all. It is actually risky.

There are multiple risks associated with Bitcoin. Some of them are:

1. The governments may declare the possession of Bitcoin as illegal and may ban the exchanges
2. The exchange rates can go down drastically and stay there for many years
3. The coins can get stolen
4. Tax authorities may seize your coins
5. You can lose access to your wallet.

[mai_mirai]

All the things need to risk, success also need a risk and I think it's very risk to turn all money in bitcoin. Because bitcoin price unstable and unpredictable, better you put half into bitcoin and half again into business in not cryptocurrency investment.

[Slipknot79]

200 years ago there was a standard "rule of thumb". Rule of thumb is an English term meaning "common sense" accepted practice.

Its:
33.3% - Invest in Property
33.3% - invest in GOLD (MONEY or FIAT)
33.3% - invest in shares

I would class Bitcoin at the moments as "shares".

Oh - Rule of thumb comes from an old English law in that men were not allowed to beat their wives with a stick thicker than their thumb. LOL

[Nerman]

What ever you invest at there will be a risk. For the question personally i will not do it. Although we know that bitcoin is unstoppable, investing in one thing will make you very emotionally attached on it. Remeber the quote do not put your eggs in one basket. You can invest in gold, bitcoin, stocks, bonds, mutual funds, cfd etc. As long as it  beats inflation thats okay.

[Eternu]

For me its very risky. Given the fact that Bitcoin is volatile and the govenrment does not yet fully accept Bitcoin, putting all your money into it may break your financial status. As the saying goes, dont put all your eggs in one nest, theb you should put your money in some other investments as well.

There are a lot of other investment instrument than Bitcoins. You can try stocks or bonds which talks about rates also or be an active forex trader. Or if you have bigger amount of money, create a business or be a bulk buyer and investor of real estate.

I think that is really realistic advice, but I am not sure it is that much risky as you think. I mean it could happen that countries forbid using of Bitcoin, but that would be only temporary like it was in China. For now Bitcoin is still in gray area in many countries, but that won't last forever. But I think it is safe to invest in Bitcoin, but not all money he have, that I also don't recommend.

[coinsmanager]

You mean putting all the eggs in the same basket? Of course it's not safe. Bitcoin is a great asset, but it is still in its early stage, which brings a high risk level. Besides that, eventually you will need money to cover the costs of your daily expenses, and if you have to do this when Bitcoin falls in price, you may regret not having saved some fiat.

[kevoh]

Every investment action we take is risky, be it Bitcoin or otherwise. It is the reward that we get when these risks turn out profitable.

So to answer your question, I would say yes it is risky to turn all your money into bitcoin. You need to do a bit of diversified investments into other assets especially with offline investments  like properties.

[Babylon]

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

Well it is really risky if you turn all as in all your money to bitcoins.  What will you do if you have an emergency and nothing left to spend.  Even buying things like food and paying bills.  Just invest portion of your money which you are willing or okay for you to lose.  

[lemipawa]

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

It is risky if you want to talk about security because your account is compromised all your Bitcoins can be cleaned and gone for good while if it stays in your bank you are rest assured that your money is guarded 24 hours a day but you are stuck with a very low interest rate.

Make it 70% of your Savings stored in regular Bank and while 30% goes to Bitcoin. I think that's a safe ratio for dividing your savings. Don't be surprised if your Bitcoin savings grows bigger that the one saved in your Bank account.

[Kim Ji Won]

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

Well, you can mitigate the risk that you can encounter in investing in bitcoin if you know when to invest in it. So for me, if you can analyze well the price trend of bitcoin, you can predict or you can estimate it if your investment will be worth it.

[sydcrypt]

The rule of trading states, Invest only that much that you can afford to loose. So yes, definitely its risky, as crypto is a highly volatile market unlike  fiat currency. Our fiat currency is something we can trust, the money we own is what we will have with us. Even if it doesn't increase we can be assured it wouldn't even decrease.

[jzale]

Of course it is risky to convert all the money that you hold to BTC. You can lose it easily of you're not careful enough. If you want to take risk then you can do it. Though I advise that you invest half of your money to cryptocurrencies and half of it remains to your bank savings.

[lilit]

This is very risky. Money should be distributed among different coins, and not put in one bitcoin. It is worth remembering that he can also rapidly reduce the price.

[Raegorl]

Extremely risky. I would only recommend you do this with most of your money if you're a young guy, no wife and kids (pretty much no real responsibility financially). Crypto is very volatile so you gotta be careful and keep yourself financially safe at all times.

[diegz]

Extremely risky. I would only recommend you do this with most of your money if you're a young guy, no wife and kids (pretty much no real responsibility financially). Crypto is very volatile so you gotta be careful and keep yourself financially safe at all times.

Actually youngsters should also be careful in putting all their money into bitcoin. There is a tendency that they might  lose capital and might think that all business es are like that, (traumatized).

But if your earnings are all from bitcoin then I suggest that you leave it as bitcoin. Who knows, after a few years, you are already a millionaire.

[Senswh]

Wow.. don't try son. if you do not have a big loss do not ever turn your all money bitcoin. seriuously its very risky, which we know btc experience up and down at its own price, if the price increases you will profit but if the price down I'm  sure you will be very losers. don't try at home,anywhere and anytime