What is the risk of holding Bitcoin?

[matchi2011]

As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?

Well compared to all other altcoins, the risk of investing in btc is a lot lower. If you're thinking about a crash, bitcoin's been around for quite some time now and have garnered a huge following, along it would be a strong support. So i won't have second thoughts if i were you. There are risks in all investments but it's really worth it with btc

[Greenkarki]

Hacking would be huge fear of holding bitcoin in our wallets.  Though we set our wallets so secured, it's better at times to to shift the BTC to other wallets we have. Fees would be still there. But safety is very important.

[PhucS]

As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?

If you just earn Bitcoin free and keep it in your wallet then I think this also has some risks. The first is the value of Bitcoin, Bitcoin is a digital e-currency, its value fluctuates daily, it can decrease at any time and even fall very deep and fast, you will lose its profit. The second is about security, if you use a bad wallet platform or your computer has a blackmail virus you will lose it all. However, I think its probability is low, it can happen at any time, but if you're careful and calculating a bit, it's going to be simple, I think so

[aardvark15]

As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?

The risk of owning Bitcoin is that it might fail and you will lose it all. That scenario is not likely after about 9 years of time that Bitcoin has been around and has been battle tested enough to be a little less risky than in the past, but it is a possibility.

The second risk is that it just loses value because demand for it drops. In thin scenario at least you won't lose everything but you could lose money.

The only other way you could lose you investment in Bitcoin is if you somehow don't secure your private key and it gets stolen or you forget it. Or you die and your relatives don't have the private keys.

[mace15]

Hacking would be huge fear of holding bitcoin in our wallets.  Though we set our wallets so secured, it's better at times to to shift the BTC to other wallets we have. Fees would be still there. But safety is very important.

Yes hacking one of the reason for holding bitcoin in the exchange. Users invest on bitcoin but as always saying don't invest only in basket. Spread your bitcoin in different wallet for better safety and dont rely on exchange.

[musharaf]

I think the biggest risk involving in the holding of bitcoin is may be in the future its values goes down and because of this low price you will lose your original money. Instead of this do not hold all your money into bitcoin some of them should keep in bank deposit that is most secure form of investment. To hold bitcoin for a long period of time it is highly risky.

[cotton ball]

Hacking would be huge fear of holding bitcoin in our wallets.  Though we set our wallets so secured, it's better at times to to shift the BTC to other wallets we have. Fees would be still there. But safety is very important.

Yes hacking one of the reason for holding bitcoin in the exchange. Users invest on bitcoin but as always saying don't invest only in basket. Spread your bitcoin in different wallet for better safety and dont rely on exchange.

we should save on hardwallet or wallet that has a private key, there is no guarantee of crypto business included in large exchanges. bitcoin may lose value when hardfork has systemic failure. Bitcoin has no public power so it is particularly vulnerable to accountability for fluctuations and security.

[johnwest]

Obviously, the riskiest part holding bitcoin or any other cryptocurrencies is that their value may become zero one day and no one would ever be interested in using them.

[raven7886]

What do you think is the biggest risk? You could lose all your money. That's the risk. Are you prepared to hold it long term if the value decreases by thousands? What if it never recovers? Can you take the losses? Nothing is guaranteed.

Agreed, but I think it's more dangerous to hold fiat than it is to hold bitcoin (I don't have a comment on other crypto currencies though). If you would've held your dollars for an entire century you would've netted a loss. I think the inflation is more dangerous than people think it is. That's why I love the fact that bitcoin has a total cap of 21 million.

Honestly, this is just so true. Let's even leave dollar aside. I have lost so much value on my currency just by holding it and it is just how it is. If I had used that shitty stuff I placed in the bank to purchase bitcoin back then and leave it for this long, I had be better and would be less bothered right now.

The inflation thing which the government and banks have rubbed on us is what gave birth to the idea of bitcoin and will always makes things get even better in the long run.

[haroldtee]

Fear of holding btc, It may crash down to its original value because of its highly volatile, the second, it could be a big threat against theft or scam, The third , Im afraid bitcoins will be banned in our country.

Factors can be considered during holding bitcoin are losing of your keys wallet where all of your personal information data sheet has been erase or hacked and attacking system like virus. And one thing of holding bitcoin is when the time has a very low exchange value a big dump like i saidmakes it a double risk to you.

Beefing up your wallet security is not really a very hard thing to do, if you can just follow some pretty simple rules.
Make use of a very strong password you can remember and cannot easily be brute forced… You can make use of this kaspersky password checking site https://password.kaspersky.com by typing something close to what your real password looks like and see how long it is going to take to get it hacked, probably that would help you understand how secured your password is.

Also, there are so many security options for some online wallet and exchanges, just make use of them and don't feel too lazy using 2FAs. So many people are!

Lastly, if you are using a desktop wallet for instance, make sure the environment is secured, as your desktop is only as safe as the PC it is on. Strong antivirus and not just clicking any link should help on that.

This is jet age and we should understand that thieves have come in a new different dimension like we use to have them in the past when our houses get robbed and how your security is beefed up will determine how easy it is for them to get in or probably not even get in at all.

[okala]

As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?

you may not need to spend mush enemy looking for the answer to your question than what you have said. since bitcoin has been increased in price and whatever go up most come down. This is the laws of nature and the risk there is that the price can easily fell backwards and you can easily loss significant amounts of your investment in just a day.

[no0dlepunk]

I guess the huge risk of holding BTC long term includes hacks, misplacement of hard wallet, and price deflation... Anyway, I have been holding my BTC for a year now, so far I haven't lose anything and my money increased better than trading.

[Slash61]

As I said in the title. I was interested in putting my money into Bitcoin because of the ever-increasing price.
But I want to know what the biggest risk is to hold Bitcoin?

you have to be careful, it looks like bitcoin is not as easy as you think.
bitcoin is a very high-risk digital asset. you should not keep all your money in one wallet only, if hackers know your wallet then you can lose all the bitcoin you have.

[v0rtecxz]

I think there is always the risk of doing something, like investing we know bitcoin prices are very unstable sometimes up, sometimes down that's the way it is, but for a few weeks I see in the market price bitcoin has a good potential to be made in place of investment compared to its other coin alt, the bitcoin growth is very good lately and its value is steadily increasing, if you buy it and save it for a couple of months i think there will be many benefits you can get,

[jostorres]

If you're storing it in an online wallet, it could be stolen.

That is not the risk of holding, that is a risk of you not making use of the available resources around you to get the best security for your assets. There are so many ways you can enhance the security of even an online wallet to get your account secured and trust me, you can even be careless with your paper wallet and still get it stolen.

Most important thing is to find the best way that suits you to store your coins and make sure you are in control of your priv keys as well as making the surrounding of your keys secure either you are using a hardware, paper or desktop wallet.

[CoinsCoinsEverywhere]

A risk associated with hodling Bitcoin is that the process of taxation on capital gains is quite complicated. Investors need to instantly and accurately report on the capital gains and losses. Failure to comply with the reporting requirements results in fines that consequently reduce the gains or increase the losses incurred on the investment. 

I guess it depends on the jurisdiction in which you reside, but at least in the US, capital gains on bitcoin aren't that complicated if you buy and hold.  It gets more complicated if you trade it a lot.  In any case, the basic idea in the US is this: you are required to pay capital gains taxes on the profit you make when you sell bitcoin (not when you buy it).  You can also write off losses.  So if, for example, you pay $1000 for a bitcoin and later sell it for $3000, you would pay capital gains taxes on the $2000 profit you made.  If you bought at $3000 and sold at $1000, you could deduct $2000 (although there are limits on the amount you can deduct per year) from you taxable income.  Additionally, if you hold you bitcoin for more than a year before selling it, you pay the long-term capital gains tax rate, which is generally lower than the short-term one.

[Ridwan Fauzi]

The biggest risk is the first cybercrime, then the currency is unstable because the rise and fall of bitcoin prices can be in a matter of hours, and the latter is not an agency that regulates bitcoin.

[orions.belt19]

There is a risk of losing all your investment. If the market crashes and the value of bitcoin drops, then you could lose all that you have sacrificed and earned in just a blink. I'm not saying that this would happen but there is a risk. This is why a lot has advised to only invest the funds which you can afford to lose because despite the good performance and potential of bitcoin to grow, there is a risk of losing it.

There is always a risk in investments - not only in bitcoin but in other forms as well such as in stocks or banks.

[jubayerjb25]

I don't think that holding Bitcoin is not at all risk because If bitcoin value goes down but it doesn't mean that I will go to sell or convert in different coin because I have faith that the value will go high again. So i will hold it for a long time to make more profit with that same coin.

[dieselmeister]

There is no doubt that Bitcoin is just an unreal currency and If the market is crashed, all your asset will disappear, haha. But I believe that it won't happens.