is it risky to turn all my money to bitcoins?

[xanmanluca]

I would say it depends on how you look at it.

How long are  you willing to leave it in? are you comfortable knowing your money is worth half of what it should be for a couple months? btc could crash to 7-8k tomorrow (doubtful) but anything is possible. In the long run surely bitcoin will surpass 30k without a doubt by the end of the year.

Who can guarantee this? nobody.

but based on the fundamentals 99% sure crypto will take over the world very quickly

[An0nyMoose]

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

Yes it is incredibly risky to turn all your money to bitcoins. Money "doing nothing" means it's safe!

If you want higher returns then you need to take a risk.

Putting money into a bank is safe. You get low return. Putting money into bitcoin is very risky. You can get extremely high returns but you could also lose all of of your money. This is not possible with a bank.

[sirkings0003]

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

It is really very risky to do this. You can get 80% of your money in the bank, invest a little in bitcoin, then the rest among the top 10 cryptocurrencies especially the low valued/cost ones.

[TheNextChampion]

Of course yes. What if bitcoin suddenly dump on it's price. Your all money will be down too and if you are newbie in this investment. You will all sell your bitcoins even if it's a loss but if you don't want to lose a portion of your money then just hodl and forget you have investment. Just comeback when the price go back.

[r1a2y3m4]

Yes. It is risky to turn all your money to bitcoin. Especially when you turn it when bitcoin price is high. Bitcoin price is volatile, if you cant handle a 30 to 40 percent loss on your money you might end up losing it. I will explain a bit more. For example, you buy 1 bitcoin at 17,500 usd right now then it became 13,500 usd if you are not a patient investor you will sell it because you will be scared that it will go down a bit more. So dont turn all you money to bitcoin. Be patient and wait for the  "dip" this is the time when bitcoin price is low.

[catchemcrypto]

If you really literally meant all of your money to bitcoins, that may pose to be a problem since you dont have any hard/fiat cash left to pay for your daily needs unless you buy those stuff at services that accept bitcoin as payment.

[Da Cambodia]

Everything is at risk even if you did not turn it to bitcoin there is a risk that your money can break stolen or if it is in the bank, the bank can resulting to bankruptcy. So if I were you I will take the risk that have a higher opportunity to grow my money.

[coinforlife123]

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.

i totally agree on this

[spinno]

Yes. It is risky to turn all your money to bitcoin. Especially when you turn it when bitcoin price is high. Bitcoin price is volatile. Every investment in the cryptos is the risk. Bitcoin has a lot of potentials and its current curve on the market is very promising but like the most of the members here said - Nothing is safe. Try to think thoroughly and properly and think about your investment in a Bitcoin a little bit.
Money in the bank maybe cant bring you the amount of the profit that you desire but at least is safe there and there is no fear of the sudden value loss. Bitcoin is fluctuating a lot and even if it has the potential to double its value no one is guaranteeing you that you will make the profit.
There is the possibility of the utter market crash and if that happens you will make a big regret because of your false decisions.
Be smart and only invest the money you are willing to lose.
Yes of course there is a large possibility that you will be undertaking a risk by turning all your money from real money into virtual money since we all know that a lot of risks can be get from being virtual because even though there is a boom in the modern technology, we cannot still deny the fact that crimes and corruption are also associated in virtual world. Also, we are not that sure when will Bitcoin lasts so it will be much better if you will still keep your physical money and virtual money
Everything is at risk even if you did not turn it to bitcoin there is a risk that your money can be stolen or the bank can resulting to bankruptcy. So if I were you I will take the risk that have a higher opportunity to grow my money.

[deppil]

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

dude you should have a backup plan who knows what will be the value of bitcoin tomorrow or future you should have the right knowledge before investing in it

I think all users will think about it after they experience it right now. they will think that backup plan is very important especially when bitcoin price goes down. that using all your money for investment is risky thing. because when the price drops very deep it will give you a huge loss if you do cut lose? and you will find it difficult to pay for your needs because all your money is in bitcoin?
then the backup plan or financial plan is very good to be formulated before making an investment

[cryptoamumu]

It is very risky to turn all your savings into bitcoin. You should be comfortable with losing whatever you put into bitcoin. So if you invested $20k into bitcoin, you need to be okay with that $20k turning into $0. It also depends on your situation. Do you have children to take care of? Expenses like a mortgage? if you're single with no children and living rent free with your family, you can take more of a risk and invest more.

[aannnttoo]

it's very risky, Don't Put All your Eggs in One Basket. Bitcoin is very volatile, when jump you will get huge profit but if fall or something happen you will cry. Turn 50% of your capital into BTC, 50% for reserved.

[Mbah Djoko]

In my opinion, of course this is very risky, we must understand that all investments are not guaranteed will be forever profit so if we put all the money into bitcoin it is gambling with 50:50 chance.

[Kravious]

With the volatility of Bitcoin, it would be very risky to exchange your money to bitcoins. I suggest to allocate your resources, 30% into Bitcoins and 70% as is. However if you look at the market, there are Altcoins that have been emerging and if you study the market and the news regarding these altcoins, it is best to invest into these coins.

[cryptomad77]

Turning all real money into Bitcoin or any other digital currency is a big risk, as those investing in digital currency invest taking a big risk that they can lose everything or gain double even triple and more

[safarabela]

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

It's very risky to turn all money into bitcoin, if bitcoin decreases in price it will be bad for you. It would be better if you buy some crypto coins rather than just focusing on one crypto coin.

[VirginMary]

Yes, it is risky. Never put all your eggs in one basket. If something happens to your basket, you remain with no eggs at all.

[ajiejot]

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 also. In our life there is no-risky 100%. You should learn to take risk. But if you are asking that you want to turn all your money to bitcoins, my suggestion is you can divide it or make some partition, do not put it all in one basket, you may divide it, like 50% to bitcoin only or 30%.

[datodota002]

Doing invesment is always risky specially on bitcoin because as we now some country not legalized bitcoin yet. it means goverment can do anything to bitcoin. my advise is do not turn all your fiat money into bitcoin. just turn the money you can afford to lose if you wanna turn it into bitcoin. because bitcoin future is unpredictible.

[ms.moon]

Don't put all your eggs in one basket. Do not put all your resources in one possibility.
This is the best plan to invest.