is it risky to turn all my money to bitcoins?

[bembi]

The risk is obviously there, even if you invested a bit of your money in bitcoin the risk is persists but the impact of those risks for you is smaller. But if you invest all your money in the bitcoin the risks you will face become bigger and I do not think it's a good idea

[Sate Jamu]

The risk is obviously there, even if you invested a bit of your money in bitcoin the risk is persists but the impact of those risks for you is smaller. But if you invest all your money in the bitcoin the risks you will face become bigger and I do not think it's a good idea

I think to be successful and rich then there should be the courage to take risks, if we want minimal risk then never invest into bitcoin, deposit, gold or stock is safer, but for me bitcoin investment is very promising and I do not hesitate to put all money into bitcoin though I realize this is very risky.

[siddu67]

Yes,it is risky to turn your all money to bitcoins.Because you know that excess of anything is not good.Similarly it is good to invest in bitcoin but not all the money.Then by chance if bitcoin price decreased dramatically you will face a great loss.So invest in bitcoin but stay in limits.

[ClarksonI]

I wonder how we can ask this kind of question seriously ...

[voron84-05]

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

the biggest risk is not doing anything)) if we talk about the risk of investing all the savings in bitcoin, it's just not reasonable. It is always necessary to diversify your investments, not to invest borrowed funds and be ready to part with money in case of improper actions))) And ideally to invest in bitcoin for a long period, then it is possible and for a full bank))

[Vaculin]

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

the biggest risk is not doing anything)) if we talk about the risk of investing all the savings in bitcoin, it's just not reasonable. It is always necessary to diversify your investments, not to invest borrowed funds and be ready to part with money in case of improper actions))) And ideally to invest in bitcoin for a long period, then it is possible and for a full bank))

We all take risk because we want to make money by investing but it's not wise to put everything we have as investing was never
guaranteed a way to grow our money, there are chances that we might lose so we have to consider that possibility as well.
The golden rule is always invest what you can afford to lose, that's all.

[Cryptoowner]

Usually. The best choice is diversification all money into different cryptocurrencies.

[Ethan Becker]

Government Policy Risk: While the government of US has not acted directly against the currency, its not clear what the policy is. If the government were to take action against Bitcoin exchanges etc your money could become inaccessible for months/years/indefinitely.
Exchange and Online Platform Risk: There are exchanges like Mt Gox that are facilitating the Bitcoin trades but they are not decades old proven entities like Goldman Sachs or even an E*Trade. Errors on their part may result in huge losses for you.
Technology Risk: While everything I have read so far makes it seem like Bitcoin is designed by a genius (or a group of geniuses), the only way you know something is built to last is to wait. We just haven't had enough time pass for us to know what if anything could be fundamentally or implementation-wise is broken and/or can be broken by crooks. Remember, we just found out that the NSA was breaking SSL. So never say never.
Bitcoin Uniqueness Risk: Bitcoin has lots and lots of unique features and advantages that you can read about. However, I find one particular risk that you can drive a truck through. Compared to US Dollar (or Euro, Pound, any national currency) which by definition can have only one of each - and therefore is limited in number of 'types' of currency. So while in theory the Federal Reserve can print infinite dollars, there is only one Federal Reserve with only one dollar. But nothing prevents "multiple Feds" to exist in the virtual coin world - you can imagine an infinite number of currencies each with a finite number of coins. We already have Litecoin. What prevents me/you/anyone from creating Goatcoin, Sheepcoin, Bitcoin2, Bitcoin3,..BitCoinN? Why should Bitcoin then retain its purchasing power except for the first mover advantage.

[Brian Goldman]

Only if you are prepared to lose all of your savings. Bitcoin is an extremely risky investment, though with a large potential upside if you believe it could become a mainstream payment protocol and currency. It's about as high-risk high-reward as it gets.

[Julian Page]

Depends on how much you can lose and why you are doing it.

I think it’s a great idea to get at least some exposure, but converting 100% of your life savings is highly risky if you don’t have emergency money.

[SergeYak]

It's always good to make your money work when you have an opportunity but be careful with investments because sometimes you can lose everything at once.

[Ris88]

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

It all depends what you do, so if you move your treasure to bitcoin, it is just to your luck alone, if it goes up then you must be lucky that you have ..

[sgenuine]

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

I suppose the author of this post has not done it and now he is not sitting being shocked that Bitcoin is in a dip. It is always risky to invest all the money into crypto. Try using not more than 30% of your funds.

[GamingBro]

When you have enough money except bank you can  try to invest like this but it's risky anyway because price is very volatile and you can lose everything at any moment.

[PatronRH]

As a matter of fact it is risky That's very risky. L BTC market is still very volatile, means if all u need is bitcoin dependant n with those up and downs. You might be in need when the price is down therefore you won't be able to supply your needs. I advise you to keep some for your safety.

[haster100]

I think Bitcoin potential is still too high. But still it is not advisable to put all your eggs in one basket. Why not diversify it. Maybe half into Bitcoin and the other into other promising altcoins or just put it in your bank account for emergency purposes.

[Galina12]

Yes, it's highly risky to turn all your money into bitcoin. «Only invest what you can afford to lose» - basic investment rule. One can invest in altcoins. Altcoin is also a good investment.

[jerjer]

Yes its risky but the risk will be reduced if you study more about bitcoin and the crypto market and learn how to have strong hands. If you want to earn big, risk big.

[sureshotcoin]

yes it is risky to turn all money into bitcoin u should enough fait to play very often

[SolutionBase]

Yes, that would be an obviously insane and foolish thing to do. Even if the volatility was greatly reduced, it would still be a foolish decision - there is far too much regulatory uncertainty to commit to that as a strategy, and anyone who says otherwise its being intentionally ignorant. That said, its not bad to hold a substantial sum, but to hold everything in any single investment would be crazy.