is it risky to turn all my money to bitcoins?

[Images21]

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

It is not only risky to turn all your money into bitcoin. It is also not practical because bitcoin is not yet widely accepted as payment in commercial establishments. I think you can hardly purchase all your daily needs with just bitcoins to use. With some of your money sitting in the bank, at least they are insured in case the banks will go bankrupt. When bitcoin goes down, it will be gone forever. That is why you need to diversify your savings.

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[Skyshark]

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

I think its a bit risky for us to turn all of our money into bitcoin, and turning your money to bitcoin would require you to convert it to fiat money every once in a while, since most of our transactions or payments that we are doing are in fiat money. But the good thing there is that, you could grow your money and make lots of profit in no time.

[e_rein]

I think it is a terrible idea to trade all your money for bitcoin. Because with bitcoin it is always uncertain how it will turn out tomorrow, it might get better or the other way around. if your investment grows larger then it is good for you, but if you are unfortunate then you might lose all of it. Therefore, it is certainly wiser to keep some of your money with you.

[dificanovi]

Being a digital currency, it is risky to put all your capital in Bitcoin. You allocate only a percentage of your capital to it .

I do not think it would be risky to put all your capital on bitcoin, because bitcoin prices will go up every year, it's because more and more people know about bitcoin. if your bitcoin is high, just sell some of your bitcoin when bitcoin price is very expensive to return your capital.

[raking]

I think that's not a wise choice. Despite  currently, btc prices are growing quite stable. But I think investing all your money in btc is a risky thing to do. Because in the present circumstances it is not that good for btc.

[nkarm1]

I think it would depend on the level of the risk that you can tolerate. Remember that every high risk investments are the ones that can give you somehow a big reward or profits regardless of the losses. So if you are aware of what bitcoin can bring you, take a risk man. Look at the performance of bitcoin for almost a decade, isn't amazing? If you had decided to invest in it as soon as possible, you could be one of those rich guys right now.

[DoublerHunter]

I think that's not a wise choice. Despite  currently, btc prices are growing quite stable. But I think investing all your money in btc is a risky thing to do. Because in the present circumstances it is not that good for btc.

Every time, every investment that you will do is not a good idea if you will put all of your money into an investment and it is best to just diversify or invest only a few of your money in bitcoin then the rest should be kept in a bank for another idea for another source of income because that is what i am doing so even bitcoin will goes bad then it is not that hard for me to move on.

[Chienna]

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, because you don't know when is the time will the bitcoin will decrease or will increase. You should take a risk if your big money will decrease and you're lucky if it become increasing. But take the risk for you to know the consequence of it.

[Kabul]

I believe that it is not risky at all. You can earn a huge money by converting all of your money to the first cryptocurrency aka bitcoin. As you can see, people are getting crazy of bitcoin and more people are using their money to buy this crypto. They spend their salary, passive income, savings to collect as many bitcoin as they can. Bitcoin is trully a safe way to invest your money because this trend is not over yet

[Python2.5]

It's not just risky but also not a wise thing to do. Invest just as much as you allow.

[kriticko29]

It is risky if you don't know anything about it and you didn't secure your wallet/account. Hackers are very intelligent nowadays. They can detect if you have any bitcoin. It is wonderful to engage it crypto but you must be careful.

[Dannaey]

We can't deny that risk does exist when taking such decisions since you are putting all your life savings at stake and risking their actual value to drop significantly if bitcoin's value drops , yet you are also taking the chance that your funds could grow or even double their value just in few days . It is a risky move but with higher risks comes higher rewards and your life could change depending on bitcoin's value . As for myself i wouldn't ever take such risks cause i don't want to put my financial status under any pressure and thus ensuring a stable situation for myself and my family .

That's the point. If you put all your money in one, this will put you in stress if Bitcoin's price drops. Though it will make you rich or earn much if Bitcoin's price pumps. So with this consequence, I suggest not to take all the risk. It might get you broke when you lose. Unless you really have plenty of money that will come.

[ashfer]

Yes it is highly risky to turn all your money to btc as nobody can predict if there is immediate crash of its value you will end up in huge loss and will have to sit up and wait for the market to regain but those without btc will be happy when the market crash as they will be eagerly waiting to buy in more and more btc as possible so that they can sell them off when the market gets back to normal and there is high risk involved but its always better to take some risk at some point in life in order to achieve something but it doesn't mean that you have to put in everything you have . Sometimes you can grow your profit in no time means you can get profit in less time than you expect as the market keep changing.Btc is always more profitable than depositing your money in the banks as the interest rate you get from the banks will be low as compared to what you can attain in short term from btc. 

[floaks]

Never smart to invest all your money into cryptocurrencies. Like with investing into stocks, only invest the money you can miss for a longer period of time.
Companies can have bankruptcies, cryptocurrencies can become worthless. I prefer speading.

[Alexbit2017]

Do not invest everything, put in a piece that you can freely spend without restraining yourself in other things
then gradually increase from the profit ...

[iloveass2]

It is risky because what if the bitcoin price go down after you spend all your money on investing in bitcoin. Yeah you're gonna lose all the money and you're going to broke

[astridplomp]

It is dangerous to use all of your money to invest in bitcoin, you can lost lots of money when bitcoin drop fast, but if you dare to take risk you may earn lots of of profit when bitcoin rise.

[CryptotradeGMO]

When you put your money right now into Bitcoin then yes
Invest in about 4600$ / BTC

[ciprimw]

everything these days is risky, but if you acord a few days to learn and see the btc potential, im sore then you will go all in, first time i bay btc 2.700$ not to long ago (and the future says "to the moon")

[culuuton]

That is a very risky decision, i don't dare make it.  If I could have seen the future I would have put all it into bitcoin but i only keep my spending low and put most of my surplus income into bitcoin.