is it risky to turn all my money to bitcoins?

[ace4549]

Everything is a risk. Especially when we talk about money and success. There are proof of success that we may see in the internet but as long as we do not experience it yet,
 we must hold on and be ready to take the risk. But one thing for sure, if you keep on worrying and getting confused, you will not succeed.
Because if you are afraid to loose a single coin, how can someone give a higher amount of money to you? Turning all your money maybe risky, but the higher the investment, the higher income you will get.

[roberthus]

It is too risky, you never know who are in the order of scams. It would be a crime against yourself if you allow yourself to lose all your money for taking risks, learn to distribute your investments and maintain a savings fund.

[bitcoinVPSD]

I think you need to save some money to take care of your daily life. You should not invest all in bitcoin. If you want to transfer all your money into bitcoin, you have to take risks. Because the bitcoin value is not stable. Its value can fluctuate abnormally.

[Lecam]

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

Yes ofcourse it is risky if you'll invest all of your money in bitcoin. We all know that bitcoin is unstable for now. It's value is volatile. You can invest some of your money in bitcoin but be sure that you'll keep the rest. What if bitcoin fails? You'll left with nothing right? Be wise.

[Sum24]

Too radical. People seem to want to do all or nothing. Why not half your money?

I think if you want to invest in bitcoin so it’s not risky because bitcoin is safe to invest and if you are talking about other crypto so then there is no chance but I have my own opinion there is no need to use all your money because it’s not a good idea as we know bitcoin have a lot of good advantage’s so there is also one of the good advantage to invest your little part of money here and it will make it double because bitcoin is a good in investment.

[Oggy Pogi]

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

Yes it is. There is still a risk associated turning your money into Bitcoin even though it is popular and beneficial. Because despite of being the one, still there comes a time that Bitcoin drops from nowhere and if you put all your money and turn it into Bitcoin, a great loss will come and you will suffer. So I suggest, better keep your fiat into where it is and better make an outgrowth with your Bitcoin so that you do not have to transfer all your money into Bitcoin.

[Ponzi Shame]

Yes it is risky putting all your money into bitcoin because you cannot tell what's gonna happen tomorrow bitcoin is so unpredictable today it has a good value but you may become surprise tomorrow it no longer have the price it has today and may suddenly crash and lose its value..so better safe and do not put everything you have in a risky situation

[jerlen17]

Turning all your money to bitcoin is really risky. Money have stable value while in bitcoins no one can say when the value become high or low. It is favorable to you if it is increasing but what if it is decreasing but also in bitcoin there is a big opportunity to have a profit and earn more.

[Gintama214]

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

Definitely, it is really risky to put all of your money in one place especially with bitcoin because of the volatility of bitcoin and the bubble. In investing don't ever put everything into it that's the number one rule in investing, wherever you invest it is always the number one rule. If you want to invest with cryptocurrency, I would suggest on investing with different coins and with altcoins because you will have more chances earning than investing it to once place which the risks is more higher.

[joan26]

It is risky to turn all your money to bitcoins. Just make what you can afford to lose. Because its not forever, we don't know what's tomorrow bring.

[coinforlife123]

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. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose.

couldn't agree more

[ganate5]

Of course, I do not recommend risky

[teejaymuna]

The point you've raised alongside your question sounds good. However, I would convert say 70% of my savings to BTC and earn some profit after a while, while I leave 30% as fiat currency. My point is, you may have some immediate need after converting all your savings and will need to do some conversions back if what you may want to spend on doesn't accept BTC. My thoughts though.

[yomighty]

yes it is as recent statistics has shown how volatile bitcoin is. though some people say diversification is bad when investing if ones plan is to be successful, its still the most potent way to enter bitcoins .

[dragoz11]

It is risky because the money in the bank don`t have a huge risk but btc`s volatility is a risk, if you are risk taker and want to double your money it is a good opportunity.

[vicemi]

it's always risky to do things in an exaggerated manner

[elminey]

If you are planning on buying the currency, only invest as much as you are ready to squander. The more volatile the investment (as in the case of bitcoin), the smaller proportion of your wealth you should consider storing in it. It is a bad idea to move your life investments into bitcoin.

If you have $100 to spare, buy a tiny amount and track its price. If something goes wrong, the $100 can be written off, and it can be considered a learning experience.

[vnck25]

A prudent investor will never put their eggs in a single basket! Thus I believe it would be a very very unwise move to turn all your fiat currency into Bitcoins. Even veteran cryptocurrency investors preach the fact that it is wise to spread your fiat among many different cryptocurrencies to maximise profits and at the same time minimize the risk of losing your entire initial investment. Diversification is the name of the game!

[m9shn9sh]

I think it is very risky invest everything you have to the crypto. You can earn a lot of course but you can lose everything as same as get a big profit. If you are a big player, you can try it, but I would have risked half.

[Jhun030383]

Yes it is risky if "all" your money...you need to be very careful and wise once you decided to enter bitcoins. Yes, you can earn alot from it but if you don't have enough knowledge and skills to work on it, every money you have will be wasted.