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Author Topic: Is it smart to keep all or almost all savings in prime cryptos like BTC, ETH?  (Read 968 times)
jmigdlc99
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November 15, 2017, 12:42:01 AM
 #21

I'd say that at this point in time, it is generally safe to keep your money in crypto.

The potential for growth in the cryptocurrency industry is massive and almost everything is on a steady uptrend. Remember that it is easier to win in a market that is skewed upwards. By investing in "prime" cryptos such as BTC or ETH, you also reduce the risk of extremely volatile price movements which can also protect you in case the market crashes (you will have time to sell)  Smiley

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The_Dark_Knight
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November 15, 2017, 03:18:10 AM
 #22

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.
You must remember a basic rule, the greater the rewards the greater the risks, if you have your money in your bank you are not going to get a lot of money in return, but if you invest most in bitcoin then your returns are going to be way bigger than anything a bank could give to you but the risk is that bitcoin also goes down in value and when that happens many people panic, so you could lose a significant amount of money.
cindygirl
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November 15, 2017, 03:48:48 AM
 #23

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.

Really, don't do this, you never know what may change in your future that could lead you to need urgent access to your savings, by all means invest a significant portion in cryptos but always leave yourself a buffer.

bamboylee
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November 15, 2017, 03:55:26 AM
 #24

I think there are still some risks associated in keeping all your assets in bitcoin or cryptos. That is why I would limit my crypto investments within 30% of my money. I would put some on other investments like real estates and stocks. That way, I can limit my risk and if cryptos fail (hope not) I have other investments on my hand and I do not lose all my money.














 

 

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ajibut
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November 15, 2017, 03:55:43 AM
 #25

I think things like this are not good enough to make a certainty that must be done, but if if this could harm the users btc / eth and so on. do you think this is a necessity not but because it has provisions given by a project then it must be done.
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November 15, 2017, 04:08:24 AM
 #26

I wouldn't say that it is going to be a very smart move. Because from what I have noticed, whenever the exchange rates of Bitcoin goes down, the prices of the alts also crashes hard. And the price of Bitcoin can fluctuate by as much as 10% in a single day. If you can afford that sort of losses, then there is nothing wrong in keeping your wealth in crypto. If not, then please diversify your portfolio.

danielcansil
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November 15, 2017, 04:13:08 AM
 #27

I think you are fine with saving bitcoin and ethereum, but why you dont think you should invest a small percentage of money into some altcoins like bch or dash and waves, these altcoins are rising so they can bring you many profit if you diverse your coins.

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November 15, 2017, 09:34:25 AM
 #28

I think you are fine with saving bitcoin and ethereum, but why you dont think you should invest a small percentage of money into some altcoins like bch or dash and waves, these altcoins are rising so they can bring you many profit if you diverse your coins.

I want to do that too using a fraction of my prime cyptos, i.e. 10-20%.
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November 15, 2017, 10:01:39 AM
 #29

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.
I think the most safe crypto currency is bitcoin because the price is always up every year since 2016 so you do not have to worry, besides btc is not safe. cmiiw
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November 15, 2017, 10:08:33 AM
 #30

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.
I think the most safe crypto currency is bitcoin because the price is always up every year since 2016 so you do not have to worry, besides btc is not safe. cmiiw
Money in bank definitely would give you small percentage of profit. But its nice if you could invest also in cryptocurrency like btc, eth, waves and other altcoins. As btc moves is usual increasing in these investment will give totally a good profit.

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November 15, 2017, 10:18:18 AM
 #31

Yes, it's the best strategy actually you can implement, and it makes sense. BTC especially has been in the market for about eight years, it has been through a lot and it has proven itself to be a risk worthy investment. The problem with many other coins (newer one's) is that you don't know whether they will survive in the long term, so even though you might have better returns investing in them, you are running a higher risk of not getting any return at all. That's why it makes sense to invest in BTC and ETH (I'd recommend you ETH over BTC). These coins are the most capitalized, which means most of the money in the blockchain sector is invested in BTC and ETH, and that means that people trust these coins enough to put their money in it, so you should consider doing the same.
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November 15, 2017, 10:36:47 AM
 #32

I think it is not bad to put a lot in BTC and ETH. But you need to be sure that you don't need the money immediately. Because you could lose if you change the money when their value are low. And there is also a risk that if you need a lot of money, it may be difficult to change a lot of your crypto to fiat money.
But if you don't need this money, it is okay to put it in crypto coins.

lienfaye
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November 15, 2017, 10:46:28 AM
 #33

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.
Yes bitcoin and eth are a good choice and leading the cryptocurrencies. I dont think its a bad idea however think carefully before putting all your savings in crypto.

Yes it can be profitable for long term but are you aware of the risk? while its true that in the bank your money is freeze its not growing but for me its safer and i prefer to leave some of my money and invest 50% of it.
rodel caling
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November 15, 2017, 10:52:20 AM
 #34

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?


Thanks in advance.

oh yes bright idea from you investing in any btc or altcoins surely you can get huge of benefits holding for long terms all kinds of coins because i believe every day month year have an increasing the value, but you need to monitor your coins because the being volitile currency manny hacker around there keep your coin in the safe wallet to avoid risk for your investment.

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November 15, 2017, 11:05:18 AM
 #35

Currently it's not risky to keep them in btc or ETH but you never know what happens the next day . If some powerful person talks shit about Bitcoin then the prices of Bitcoin will fall down. And that might affect your savings. It's better to keep a part of your savings in the form of Cryotocurrencies as even if something happens you always have a backup

Adioliver
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November 17, 2017, 07:43:13 AM
 #36

Putting all your hard earned money into cryptocurrecies  is not recommended.Its really risky as you never know when a crypto might crash but at the same time you could make a fortune out of it too.The risk is worth taking.If you have already made up your mind to invest all your savings into cryptocurrencies then all the best.But don't forget to do a deep research on which crypto you are going to invest in.
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November 17, 2017, 09:55:41 AM
 #37

Btc and eth are the best option of investment. It is always risky when you invest that's why you should only put your extra money on it, not all of it. Because we never know what will happen, tho there's a low probability that btc and eth will crash instantly.

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November 17, 2017, 09:56:40 AM
 #38

It sounds good but i will not put all eggs in same bag. Why not to split them ?
You can buy Gold or stocks to split your risks.


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November 17, 2017, 10:00:54 AM
 #39

It is never smart to keep a lot of funds into a single coin. Always diversify to distribute and dilute the risk.
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November 17, 2017, 10:26:58 AM
 #40

To keep their money in crypto currency it's a good idea, but into them do not need to store more than 30% of their funds in my opinion.

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