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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)
RudeeTam
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November 17, 2017, 10:40:02 AM
 #41

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.

For me, moving most of your money into these top cryptos is a smart move. They already have history and backed by a good community and developers. They still have constant developments. But keep some of your funds in the bank (for ease of access anywhere with an atm) or at home as emergency funds.

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November 17, 2017, 10:44:23 AM
 #42

Bitcoin and Etherium are among the safest bets in the crypto. Litecoin has also maintained its ground and is my 3rd choice among large cap crypto currencies which are least volatile. So if I were to place my money is most stable currencies in crypto, I would split it among btc, eth and ltc.

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November 17, 2017, 11:20:30 AM
 #43

Simple answer is yes, if you want little risk, then btc, maybe eth is the way to go. btc especially has seen huge growth in the past two months. If you're up for high risk high reward investments, go for altcoins

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November 18, 2017, 11:30:02 PM
 #44

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.
If you are an avid investor then yes it would be wise to have a portion of your money in those coins.

If you aren't investing in Crypto that much then no.

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November 18, 2017, 11:55:52 PM
 #45

I think its not advisable to invest majority of your savings in cryptos. Yes, there is no question that cryptocurrencies change the way we look at our financial   capability. Yes its also true that you  will profit more when you invest in cryptos than in banks. But you should always remember than these are  digital currencies,  and its  very  risky.  You will never know when the value will decrease, its very unstable. Maybe its value today  is very high, but it might decrease its value drastically overnight. I think its best if you invest 50%  of your savings in cryptos and 50% in banks.
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November 26, 2017, 04:16:46 AM
 #46

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.
This is common sense, we should only invest what we can afford to lose and no more than that, so it is important to keep a good amount of money in hand and not invested that way if something were to happen we will be able to cover those expenses without having to sell our investments, but if you can afford to invest in stocks and bonds do that as well since that reduces the risk of your portfolio.
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November 26, 2017, 04:22:39 AM
 #47

Your savings will be safe only if you put it in stable coins like BTC ETH LTC ASH XMR other than shit coins will be a high risk,whales can easily manipulate the lower cap coins.

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November 26, 2017, 04:25:53 AM
 #48

The smartest thing would be to diversify your investments. Owning many different coins isnt the right thinig to do because at the end of the day all your money is still in the same ''asset'' which are the cryptocurrencies.

But of course this depends on your age and investment profile. If youre not too risk averse, its ok to maintain a higher risk higher reward portfolio with most of your savings in crypto.

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November 26, 2017, 04:27:56 AM
 #49

Atleast take some profit. Having it all in crypto is very irresponsible.

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lienfaye
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November 26, 2017, 04:32:47 AM
 #50

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 also invest my money in bitcoin and eth because in long term i know i can earn with these coins. However i didnt go all in despite of its potential, for me its not wise to invest all your savings because every investment has risk.

Its better to save atleast 30% of your money in bank so if theres emergency situation you have money to turn on to, its hard to rely in your investment. Nevertheless the decision is yours its just a piece of advise.



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November 26, 2017, 04:40:29 AM
 #51

Bitcoin and ethereum are the 2 safest coins to invest in the crypto market, so it makes sense that a big part of your portfolio should be in those 2. But id suggest setting aside 20 or so percent to invest in good and upcoming alts with promising futures.

denny27
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November 26, 2017, 04:56:41 AM
 #52

Yes I guess, this is the right choice and can promising profits opportunities in terms of saving and waiting for profits that will definitely to gained in the long term. Btc and Eth have prices that tend to increase in the long run, and it's has been proven.. so far, from the previous months/years indeed is like that on its facts. Already many people to gain profits from Btc and Eth in investing.
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November 26, 2017, 04:59:41 AM
 #53

Yes cryptocurrency will give you lots of gains in years to come but dont forgot that it can still be the other way around. Cryptocurrency or the blockchain technology is still very young and who knows maybe some technology will get these obsolete. What best to do is invest what you can afford to lose just like most people here says. If you dont want your money sitting in banks doing nothing. Try investing in other markets like stock markets or alike and not just in cryptocurrency.


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November 26, 2017, 05:08:34 AM
 #54

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.
Its depend upon you, if what you choice to save your money..
Btc and eth is good and safe, but when you start saving just becareful as always, and be wise.

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November 26, 2017, 07:31:57 AM
 #55

yes, it is the right choice your money will be safe if you invest in bitcoin, etherium or litecoin. bitcoin is one of the safest ways to invest long-term because the price keeps rising.

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November 26, 2017, 10:01:54 AM
 #56

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.

In my opinion crypto is not “free money”, do you have stress when you have your savings stored in a bank? Do you keep looking at your bank account to see if it dropped 20%. You will not have peace of mind when you have all your savings in crypto. Only invest what you can afford to lose, and if that is a big chunk then that is ok. Think of it like this, from the moment you put money in crypto then theoretically you have lost everything. If you are ok with that then sure.
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November 26, 2017, 10:41:16 AM
 #57

I think it is not desirable, because encryption monetary itself has enormous risks, although for now, the mainstream of the COINS are up, but there is no guarantee that the future will also drop, even to zero

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December 02, 2017, 02:11:57 AM
 #58

I think its not advisable to invest majority of your savings in cryptos. Yes, there is no question that cryptocurrencies change the way we look at our financial   capability. Yes its also true that you  will profit more when you invest in cryptos than in banks. But you should always remember than these are  digital currencies,  and its  very  risky.  You will never know when the value will decrease, its very unstable. Maybe its value today  is very high, but it might decrease its value drastically overnight. I think its best if you invest 50%  of your savings in cryptos and 50% in banks.
Putting your money in a bank is not really investing since you are not going to get any returns on it, remember it is a mistake to let your money sleeping in a bank account you are losing money when you do that, invest that money in a business, or invest in some diversified portfolio of stocks or buy gold or whatever, just do something with that money.
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December 02, 2017, 02:29:18 AM
 #59

It's risky imo, but who knows..if bitcoin went x 100 and crypto space in it's entirety went x20 then yeah...it would have been really smart.
But if not...
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December 02, 2017, 02:52:12 AM
 #60

Yes it’s if the money nothing to do with your day to day life then it’s highly profitable to keep in crypto for long term .Based on my experience this money even nothing to do with critical emergency situation then you will get good profit.
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