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Sweeet123
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December 03, 2017, 06:02:23 PM |
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Yes it is risky to turn all your money into bitcoins, there is a famous saying never keep all your eggs in the same basket, as you might risk losing everything, invest only a part of your money in bitcoins, an amount that you can risk to put in bitcoins, so that touchwood if you make a loss that would not affect you in a big way. True that more the risk more the profit , but this is only true when you have a lot of resources to put on stake, else one should always play safe
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Zubayer
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Activity: 181
Merit: 10
Working as a Web Developer and Cyber specialist.
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December 04, 2017, 12:37:42 AM |
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No, there is no risky to turn all money to bitcoin. Because bitcoin is the best crypto currency in the world. There are so many people who invest bitcoin with his all money. Another thing that bitcoin age is so long and it can't died without giving your money.
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GamesBooster
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Activity: 34
Merit: 10
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December 04, 2017, 01:56:17 AM |
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Bitcoins are currently worth $ 11,000. From the beginning of 2017 until now, bitcoin has been x7 times. Currently my main income comes from tradecoin and bitcoin. I am sending all my savings into bitcoin. Be very careful when investing.
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randal9
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December 04, 2017, 05:03:54 AM |
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The market value of Bitcoin is constantly growing. Converting all your money into this is a form of investment, the more money you invest, the greater the profit. Now this is a little risky, because it is not legal for most countries, but if you live somewhere where it's legal, I think it's a good idea
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luigidosado
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December 04, 2017, 05:07:52 AM |
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Putting all your money in bitcoin is a very very big risk. Its like putting all your eggs in one basket. The value of bitcoin changes from time to time therefor the value of the money you invested also changes. In case bitcoin crashes, you won't be able to go to someone to get your money unlike banks because it is a decentralized system. Its better that you only invest the extra money you have.
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mathiaslivis
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Activity: 139
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December 04, 2017, 05:16:47 AM |
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I think you should turn the funds that you can control the risk and buy the encrypted currency, so it's OK. If you're beyond your risk control, try not to do that. The market for encrypted currency is always rising and tumbling, which requires you to have a certain mental capacity.
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KevinHD
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December 04, 2017, 05:19:33 AM |
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It is really risky if you turn ALL your money and rely on Bitcoin price in market. No one knows if Bitcoin would remain in an endless life or cannot be shutdown. We all know that investing on it will make your money grew soon. But how if its price goes back to zero? Will you still wait? You should only invest SOME of your money. I suggest you must wait for its price to go down first, be updated in crypto news. So you will be both smart and wealthy in the future.
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Rj Manik
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December 04, 2017, 07:03:07 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, I think it is risky.Because Virtual currency always decreases the value increases.But the value of government approved money does not decrease.If you buy bitcoin with all the money, then it can be reduced at a time.Although it can be good and beneficial.There must be risks here. |
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bryant.coleman
Legendary
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December 04, 2017, 07:17:25 AM |
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Bitcoins are currently worth $ 11,000. From the beginning of 2017 until now, bitcoin has been x7 times. Currently my main income comes from tradecoin and bitcoin. I am sending all my savings into bitcoin. Be very careful when investing.
LOL... You are saying that you should be very careful while investing. And at the same point, you are saying that you are converting all of your savings to Bitcoin. You are already having a sizable Bitcoin stash. What is the need to increase the risk by adding more coins? |
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shawn995
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December 04, 2017, 07:23:43 AM |
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yes it is a little risky , if you turned all the money to the bitcoin and the rate of the fall down and you need the money for some of your need and you want to use your bitcoin, in this case you will lose some of your money but in major case you will earn money because the rate of the bitcoin is rising all time.
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joetiger
Newbie
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Activity: 9
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December 04, 2017, 07:40:56 AM |
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of course it is better risk to convert bitcoin into cash  |
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Nowherman
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December 04, 2017, 08:00:35 AM |
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I know several people who have transferred all their savings to bitcons and are now getting a decent profit.
Recently, the information was published on the first bitcoin billionaires brothers Cameron and Tyler Winklevoss.
So it's not too late to get rich on bitcoins. I think.
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worldofcoins
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December 04, 2017, 08:04:12 AM |
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Seriously why is this thread still alive? can you newbies stop shit posting?
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1BTC EQUALS 1CAR
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December 04, 2017, 09:00:03 AM |
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That's a high risk but it also offers high profit in return if nothing will go wrong along the way. The question should be is, are you prepared with the risk? Because if you are then you can go do it but if you are smart then better not do it.
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Oliver A
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December 04, 2017, 09:04:21 AM |
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Yes, of course, it is risky, if you are really interested to turn all your cash in Bitcoin then turn half of your amount to Bitcoin. So that if some disaster occurs it should not harm your life.
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Carlsen
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December 04, 2017, 09:04:35 AM |
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There are many possible ways to make profit with bitcoin, unfortunatelly there are many ways to lose money with it as well.
It does not have to be a decrease of bitcoin price.
The coins can be stolen, you can make a mistake with a transaction or simply forget the data to access your coins.
So bitcoin is and always will be a risky business.
Turning all your money into a risky investment is not a really good idea in my eyes.
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xz
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if you are a risk-taker and already an expert in making money in bitcoin, then go for it. After all, all kinds of online investments are risky and bitcoin is no different from it. But if you are newbie to bitcoin investment, it better to study cryptocurrencies first and their volatilities.
No its not riskey at all to transform your money into bitcoins in light of the fact that the costs of bitcoins are going increasingly elevated quickly so its safe to change over all your money into bitcoins and keeping money has alot of hazard so in the event that you don't need any sort of hazard than change over all your money into bitcoins. |
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Pamadar
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December 04, 2017, 12:15:33 PM |
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Yes, of course, it is risky, if you are really interested to turn all your cash in Bitcoin then turn half of your amount to Bitcoin. So that if some disaster occurs it should not harm your life.
if generalizing then its should not be all in because we can't say what can happen the next day, we can place big part of our investment if we really do believe that bitcoin will turned big after some years, so if worse things happen we still have some money to use especially in any emergency cases. |
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ravedien
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December 04, 2017, 12:17:30 PM |
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Bitcoin is too volatile, dont put all your money in it. Maybe put a 20% then leave it a year. Treat it that you already lose it
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marielbeckham
Newbie
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December 04, 2017, 12:28:52 PM |
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Without any doubt "no half measures" is risky in such a case. It's always better to turn that part of the money to bitcoins which can't damage your budget to a great extent if there is some unpredictable failure. The slight trick which is used by many people is to invest in several cryptocurrencies simultaneously so to make sure that you will gain some profits anyway.
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