is it risky to turn all my money to bitcoins?

[Isaacck1]

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

Of course, it is risky. You can also think of it as putting it all in a bank and still don't know if it's still safe from being bankrupted. As we all know, bitcoin is volatile, yes it is increasing at such a high rate, but we still don't know when will it go down. The best plan is save some in the bank, a well-trusted bank, and save some for bitcoin so it could grow.

[Nenni]

I think the risk is very big, because the price of bitcoin is unstable, there are times when the price drops dramatically, there are times when prices soar like now, so depending on the price in the market

[cryptolit]

Absolutely. For all the reasons mentioned already. You never know what's behind the next door so you have to think if Bitcoin crashed tomorrow, would you be okay? Any investor will tell you to have a diverse portfolio.

[pinkliar]

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

for me yes of course. because in just a blink of an eye your money can not be returned anymore if the bitcoin will gonna be shut down in our country let's think wise before we do something you never know what will happen so don't be too assure I know bitcoin is good but it is not wise to turn all your money in btc.

For me its yes also because of that reason too we dont even know what will happen in bitcoin it is really dont have any assurance and thats why i think also some dont like bitcoin is just because it can gives us profit but interms of assurance we dont even know it.

[GreenStox]

Absolutely. For all the reasons mentioned already. You never know what's behind the next door so you have to think if Bitcoin crashed tomorrow, would you be okay? Any investor will tell you to have a diverse portfolio.

that's right, everyone knows bitcoin has a high risk. so don't ever put all the money in one basket. Although it looks very profitable but we also have to think about a loss. because bitcoin price is not always increase.
 

[Renai0925]

I'd like to echo what people in here are saying is true; It's very risky to turn all your money into bitcoins. It's volatile, meaning its worth fluctuates unpredictably. Just turn some of it and save the rest in case of emergencies.

[fabioganga]

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

In my opinion, my friend, it's not risky because of Bitcoin being risky, but it's risky because you should NEVER EVER put all your eggs in one basket!

Rather, diversify that amount of money among AT LEAST 3-4 different cryptocurrencies.

[shohelalam]

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

Yes, Its almost risky if you turn all money to bitcoin. If you don't keep your backup money for recover if market down suddenly that's time you can not  recover invested with bitcoin. If your money  just holding in the Bank and earning a very low interest or nothing. The Bank gives only Low Interest after long time. But as we know bitcoin investment always profitable investment it's always grow up. You could not loss your invested money with bitcoin any more. If you keep patient and you believe  bitcoin.  

[Pan Troglodytes]

Oh yes, of course. Just imagine what happens when the war breaks and they unplug the Internet for some time or (maybe more realistically) a surious bug is found (as it was even found  today or yesterday in Ethereum) and the BTC price comes  seriously down - or even down to 0. Whatever is you current capital, it will be 0 after any of those events.

[Harlot]

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

Yes, Its almost risky if you turn all money to bitcoin. If you don't keep your backup money for recover if market down suddenly that's time you can not  recover invested with bitcoin. If your money  just holding in the Bank and earning a very low interest or nothing. The Bank gives only Low Interest after long time. But as we know bitcoin investment always profitable investment it's always grow up. You could not loss your invested money with bitcoin any more. If you keep patient and you believe  bitcoin.  

Just simply stating the saying "Don't put all your eggs in one basket" is an enough to know that it is not safe to put all your money in Bitcoin or even in other assets like putting all your money in one type of stock is also risky. But if you are one of those people who would sell all their assets to buy Bitcoin as they see a good future good luck with because I don't think that it is a wise decision to do so.

[jamirrah]

It's as risky as putting all your money in any other business, you may get really huge profit holding btc in either long or short period of time and you may also have loss in some days due to fluctuation. As a piece of advice, dont put all in bitcoin just invest amount you know you afford to lose if worst case scenario happen but still its up to you to decide.

[Momoamzad]

It is really risky to turn all of ur money into bitcoin cause crypto currency never guranty you to always be stable. It can be ups and down at any time. U may have faced loose of these.

[mrflow27]

Absolutely. For all the reasons mentioned already. You never know what's behind the next door so you have to think if Bitcoin crashed tomorrow, would you be okay? Any investor will tell you to have a diverse portfolio.

that's right, everyone knows bitcoin has a high risk. so don't ever put all the money in one basket. Although it looks very profitable but we also have to think about a loss. because bitcoin price is not always increase.
 

I accept you.You can inverse 50% in Bitcoin and remaining 50% in various altcoin which you thought it as Best.Their are some Altcoin like ETH ,Lite coin and Waves,Which are as best as Bitcoin .If you want money means,you can sell Altcoin when the price of Bitcoin is low.

[Papaczed]

it's risky to turn all your money into bitcoin I will not recommend you to risk all your money

For me maybe it yes, that it is risky to turn all your money to bitcoins, Because all money is a big deal, how about if something happend that bitcoin will be closed for a 3months so how about your money, yes bitcoin is legit and it is running for many years but to invest or turn all money in bitcoins im not agree with that, maybe the 3/4 is enough. So if has somethung happen there are 1/4 of your money you can get.

[Webberson]

For now, i would say it is risky to convert all your money to bitcoin; reason being that the cryptocurrency hasn't been accepted globally.

[Bestfriendko]

Indeed. But they say that life is itself a risk. So what's new? It's just a matter of having the courage to step up and go for that risks, if your mind is already made up.
But investing all your money in bitcoin is a very insane thing to do. Considering that it's gonna be your first time to venture in this kind of business. You still don't know it's ups and downs i presume.
If i may suggest, invest only a token of your money, just a part of it that you can afford to loose. That way, if things got bumpy, you still have some left money to enjoy.

[Predator25]

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.

What do you mean to turn on? Do you to invest it here? Yes ofcourse all business with involves with money is always risky. All transaction which involves money is actually risky.

[Cutekittens21]

Bitcoin has so far this year beaten many traditional investment asset in terms of ROI it has to offer on invested amount in shorter period. This make Bitcoin to be a lucrative investment. But never ever, even if you blindly trust your investment asset, invest in one asset. Always diversify your investments that too not among cryptocurrencies only but in various other assets as well. This saves the chances of complete loss. Invest about 30% of your salary but in different assets in which the most trusted asset should have the larger part in investment.

[cinchin]

Absolutely. For all the reasons mentioned already. You never know what's behind the next door so you have to think if Bitcoin crashed tomorrow, would you be okay? Any investor will tell you to have a diverse portfolio.

that's right, everyone knows bitcoin has a high risk. so don't ever put all the money in one basket. Although it looks very profitable but we also have to think about a loss. because bitcoin price is not always increase.
 

- Agreed, the risk from bitcoin can be said to be huge and unpredictable, if we put all our money into bitcoin, we will fall into dangerous situations and can not know when risk will come to us, no one can be sure the price of bitcoin will always rise
- Although many people have always said, and predict the future of Bitcoin will grow and achieve a higher price than ever but these are just predictions based on historical data, there is no clear evidence that this will come true, so we always need to think about the worst situations and always keep some money to prevent this situation

[Mumbeeptind1963]

For now, i would say it is risky to convert all your money to bitcoin; reason being that the cryptocurrency hasn't been accepted globally.

Maybe, but they say life is full of risk its up to you if you take it or not. But i think turn all your money to bitcoin is not wise to do because when you buy something in store, what shall you pay if you turn all in bitcoin, since money is very convenient to pay in store.