moanamakeway
Member
 Offline
Activity: 112
Merit: 10
|
 |
October 31, 2017, 03:23:44 AM |
|
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. Very risky. If you should be planning to invest on something, you ought to study it first before you put money into it. You might want to reconsider putting majority of funds in a bank til such time when you are ready to pull it out for something bigger. Bigger risk means bigger returnInvest you can afford to lose. |
|
|
|
|
|
vegethegreat
|
|
October 31, 2017, 04:44:20 AM |
|
Yes of course even you only invest small amount it is still risky. So why put all your assets in bitcoin if theres a huge chance of loosing it. Being greedy most of the time leads to big loss or worst is it might wiped all your money.
|
|
|
|
|
Marrionbitcoin
Member
Offline
Activity: 294
Merit: 11
|
|
October 31, 2017, 05:36:51 AM |
|
Yes, turning money to Bitcoin is too risky because it is not fully secured and regulated by the Government. Virtual money can be hacked by so many expert hackers around the world. It is better to have both physical money to pay petty expenses and Bitcoin for investment.
However, in the future this is possible that we can use Bitcoin as payments to all stores even right now we can pay our electricity, water bill, etc. It just that, Bitcoin should be monitored and protected by the Government. This is the future so there's a possibilty that we can use Bitcoin as payment in our daily expenses.
|
|
|
|
|
|
soilwork79
|
|
October 31, 2017, 06:00:36 AM |
|
It can be risky especially when you put all your money into bitcoins. If you put your money into bitcoin with high volatile price, you can lose all your money if bitcoin crashing. Make sure that you will only invest the amount of money you can afford to lose.
|
|
|
|
|
MAHNOOR
Newbie
Offline
Activity: 163
Merit: 0
|
|
October 31, 2017, 06:02:13 AM |
|
off course remember this phrase "only invest money you can afford to lose" so yeah your money possibly go to zero
Of course it is risky and I am agree with you that we need to be active and mature because we know if we invest all our money in bitcoin and after some time the price of bitcoin goes down than a lot of money will flow away and nothing will left to help you I mean money so we need to be experienced in that situation and focus. |
|
|
|
|
sana gull
Member
Offline
Activity: 176
Merit: 10
|
|
October 31, 2017, 06:04:38 AM |
|
I would recommend you first to take a moment to understand bitcoin, and cryptocurrency in general, after that and knowing the risks and pros, of this process of investment, you may start turning it. About the quantity, it's not recommendable in any way, put all your money in just one thing. You should be willing to let that money goes, in case the market goes down.
No I think you should need to think again because what you are saying is wrong and I am not agree with you because we need to be mature and not invest all money in bitcoin, the reason is that if we invest money in bitcoin and than the price of bitcoin goes down that it consider to be negligible then one thing will be left and that will be lost. |
|
|
|
|
|
Kokoy
|
|
October 31, 2017, 06:09:51 AM |
|
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Of course, since bitcoin has a huge involvement with money, I think it is very risky for us to turn all our money to bitcoin, I think you are talking about investment, well if you doesn't have 100% assurance that you can gain something from it then dont do it at all , you may be regretful after. |
|
|
|
cryptoglobal79
Full Member
Offline
Activity: 308
Merit: 100
--
|
|
October 31, 2017, 06:10:02 AM |
|
There is always a risk in every investment so it is very risky and always remember that bitcoins value is not stable. You may lose your money. You should invest half of your money instead of all i think.
|
|
|
|
|
|
gabmen
|
|
October 31, 2017, 07:44:46 AM |
|
There is always a risk in every investment so it is very risky and always remember that bitcoins value is not stable. You may lose your money. You should invest half of your money instead of all i think.
Yeah that's the problem there. It's a do or die thing if you put all your money in bitcoin. If it continues to grow in the future, then you'll be earning quite a lot. If it crashes, you'll have a very hard time recovering your losses if you don t have any back up |
Report to moderator . ██████████. .████████████████. .██████████████████████. -█████████████████████████████ .██████████████████████████████████. -█████████████████████████████████████████ -███████████████████████████████████████████████ .-█████████████████████████████████████████████████████. .████████████████████████████████████████████████████████████ .██████████████████████████████████████████████████████████████. .██████████████████████████████████████████████████████████████. ..███████████████████████████████ |
|
|
Masterio
Newbie
Offline
Activity: 42
Merit: 0
|
|
October 31, 2017, 07:48:59 AM |
|
I personally invested around 20% of my savings and will not go above that since it's still at it's "baby-steps".
All I'm gonna say is: invest as how much you can afford to lose.
|
|
|
|
|
khanjan12
Newbie
Offline
Activity: 27
Merit: 0
|
|
October 31, 2017, 07:54:51 AM |
|
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. yes It is risky because some times BTC value comes down and if someone invest all of their money in BTC they will wait for their interest for some time(not more than a month). |
|
|
|
|
SmallBit
Newbie
Offline
Activity: 21
Merit: 0
|
|
October 31, 2017, 08:35:06 AM |
|
It's like forex or gambling, you just only risk the amount you can afford to lose, not more. If you just stop to go to a party at Saturday night once per month and you invest it into bitcoin, you can have a much bigger party if the price doubles  |
|
|
|
|
wormgummy019
Member
Offline
Activity: 328
Merit: 10
|
|
October 31, 2017, 08:56:30 AM |
|
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
Yes it is really risky to turn ALL your money into bitcoin. You may turn SOME of you money not ALL. Bitcoin is volatile. Its value is sometimes increase and sometimes decrease. Be wise in handling your money. Think before you invest. Think before you go. Think before you click. |
|
|
|
|
sdas90
Member
Offline
Activity: 136
Merit: 10
|
|
October 31, 2017, 10:26:02 AM |
|
I think it is yes. all of money to bitcoin is risk. bitcoin price always up and down. so all money invest into bitcoin when bitcoin price will be low you are in loss. so don't invest all money in bitcoin.
|
|
|
|
Loremipusum
Newbie
Offline
Activity: 24
Merit: 0
|
|
October 31, 2017, 10:33:53 AM |
|
It is maybe better because you don't have to pay a lot of taxes then. If you cash out 3 times you need to pay a lot more taxes, but if you do it in 1 time you can get more money.
Sometimes it is even better to not cash out and just to save your coins.
|
|
|
|
|
khaled0111
Legendary
Offline
Activity: 2772
Merit: 3114
Top Crypto Casino
|
|
October 31, 2017, 10:49:44 AM |
|
All members are telling you that investing all your money is risky and their argument is "never invest what you can't afford to lose".
Well, i recommend you to invest all your money since you mentioned that you keep it in a bank and not using it. I believe in different quotes like "big risks, big reward" and also keep in mind that "He who risks and fails can be forgiven. He who never risks and never fails is a failure in his whole being".
|
|
|
|
|
sabarr
|
|
October 31, 2017, 11:50:00 AM |
|
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!
it may not be wise to put all the money in bitcoin because you will bet it all and it can make you lucky and get a lot of profits but also can make you unlucky and you will get big losses maybe even lose all money |
|
|
|
|
|
Harlot
|
|
October 31, 2017, 11:57:17 AM |
|
There is always a risk in every investment so it is very risky and always remember that bitcoins value is not stable. You may lose your money. You should invest half of your money instead of all i think.
The problem here is we can't count Bitcoin as some kind of investment as what you are doing to it is called trading. Bitcoin technically does not have any basis but demand for it therefore making it unstable making it as an investment would only risk your money. You don't have any economical analysis or a company's financial performance to serve as your basis on making a buying decision with Bitcoin. Just remember this Bitcoin is not some company's stock or a country's fiat currency where you can think of a long term investment. |
|
|
|
|
BitcoinIsAlgebraic
Member
Offline
Activity: 89
Merit: 10
|
|
October 31, 2017, 12:00:28 PM |
|
There is always a risk in every investment so it is very risky and always remember that bitcoins value is not stable. You may lose your money. You should invest half of your money instead of all i think.
The problem here is we can't count Bitcoin as some kind of investment as what you are doing to it is called trading. Bitcoin technically does not have any basis but demand for it therefore making it unstable making it as an investment would only risk your money. You don't have any economical analysis or a company's financial performance to serve as your basis on making a buying decision with Bitcoin. Just remember this Bitcoin is not some company's stock or a country's fiat currency where you can think of a long term investment. Trading is investing you are depositing money and then selling at a higher price and then reinvesting. It's exactly that an investment |
|
|
|
|
|
Bukx
|
|
October 31, 2017, 12:04:35 PM |
|
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 Yes.. dont ever do that. Only invest how much that you can afford to loss. Dont ever thinking you can gain much profit. Before thinking profit you have to think about lost first. |
|
|
|
|
|
