lestat2k7 (OP)
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November 14, 2017, 10:09:32 PM |
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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.
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hosseinimr93
Legendary
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Activity: 2380
Merit: 5213
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November 14, 2017, 10:15:44 PM |
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Yes, In this case your money is more safe if you invest in Bitcoin, Ethereum, Litecoin, Dash, Monero and Ripple. Coins with lower market caps can be easily manipulated by whales and investing in them is like a gamble.
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billyj111
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Deal Coin - P2P Lending Eco-system
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November 14, 2017, 10:16:17 PM |
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Well, I think there are always risks, for example, I keep 80% of my savings in a cryptocurrency, but it is very risky and it's better not to do so.
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Bummers
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November 14, 2017, 10:39:15 PM |
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You'll hear this all the time, but don't invest what you cannot afford to lose.
Whilst everything is good, it's easy to think that there is no risks in keeping money in the popular coins. Unlike a bank though, there is no protection and if something were to happen to make the market plummet you will lose a lot of your money.
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pr3m0nition
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November 14, 2017, 10:42:19 PM |
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^^^^ What this guy said. Dont invest what your not willing to lose. These currencies are still VERY young and suffer from crazy volatility.
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uszaty43
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November 14, 2017, 10:45:08 PM |
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There is too much volatile on the market, you can not just put all your life savings in here because you dont know what is going to happen.
Maybe another crazy guy wants to do a new revolution just like it happened with bitcoin cash on the last few days, and maybe he can make it done, and replace bitcoin, and if you are not smart, you are going to lose all your money in a few hours.
It is so risky, this is the main reason of why i would not put all my life savings in here. Investing in bitcoin is just another source.
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lekam0213
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We offer our Service
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November 14, 2017, 11:05:52 PM |
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I believe yes specially those belong on top 10 it is more secure because you can see that it is not a scam and some/many invested those coins.
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VanDeinsberg12
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November 14, 2017, 11:17:04 PM |
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It's smart thing, as you can see the marketcapitalization of the cryptocurrency goes even more. That means the more demand will come to the crypto to increase the price.
But it will be better to learn to get in at the bottom of the price. it will become a very good choice to invest your money or keeping it for the long term investment.
But remember there is another promising project just like eidoo to store your money. remember each eidoo even worth $1.8 and this time the price was $2.3
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nitehawk
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November 14, 2017, 11:21:19 PM |
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Yes, I would say that is the safest bet as those two coins are not going anywhere. No matter how much due diligence you do any of these new alt-coins could turn out to be scams, as many of them specialize in deceiving people. Even with the profits made from ICOs these past 6 months, keeping my earnings in BTC would have probably outperformed those ICOs.
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ilic
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November 14, 2017, 11:42:49 PM |
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I keep about 80-90% of my crypto in DASH and ETH.
However I am now trying to increase my BTC and BCH holdings just incas.e
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iqlimasyadiqa
Legendary
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November 14, 2017, 11:44:55 PM |
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Nothing wrong we do it because then we open the opportunity to be able to gain profit. the risk that we have is quite large because we could have a loss when the price of Cryptocurrencies decreased. I as a traders of course have to do the analysis and strategy in order to get the best results, I always see how the price of Bitcoin move because I know that when the price of Bitcoin moves then all prices Cryptocurrencies also change including Etherum. This is risky but when we do not dare to take risks then we can not open opportunities, any risk must exist in a business. the opportunity to take action to buy Bitcoin is a fantastic advantage !!! when we choose the right time to buy and sell Bitcoin then we can get tremendous profits, but when we make the wrong decision in determining the time to sell and buy then we could lose some investment / money we have. (just calm down because this will not eliminate all the money we have).
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turbulence
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November 14, 2017, 11:45:01 PM |
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you don't see any drawback/risk in buying a practically useless coin at 6500$ per?
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spngebob
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November 14, 2017, 11:46:14 PM |
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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.
It is very risky, never invest all your savings. Maybe these cryptos go down a lot, but in the long term they are always going up.
You don't know what can happen in next few years, maybe bitcoin will drop to 1000$ and then you will lose your savings - or maybe it will jump to $50K and you will make money - no one can know that. Too risky if you ask me. |
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lestat2k7 (OP)
Newbie
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November 14, 2017, 11:49:35 PM |
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Yes but BTC has 160+ billion backing. This is not a joke money so I don't think it will go away. That's why I said it seems better than to keep in bank. Also it seems like there is a huge divide here among opinions.
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javadsalehi
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November 14, 2017, 11:55:06 PM |
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you don't see any drawback/risk in buying a practically useless coin at 6500$ per?
Although Bitcoin price has reached such high amount. It is safer than any other coin in long-term. Demand is still high and the price is rising. |
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HansWermhat
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November 14, 2017, 11:56:12 PM |
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I would never keep all of my saving sin crypto, gotta have a balance of crypto and fiat. Crypto is just so volatile, you never know what it could do.
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chrismartin
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November 14, 2017, 11:59:19 PM |
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Try to have some research, and if your research seems good to put savings in btc and eth, just go on. And for me, putting savings in thier is good because right now. Prices are all rising
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turbulence
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November 15, 2017, 12:05:02 AM |
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you don't see any drawback/risk in buying a practically useless coin at 6500$ per?
Although Bitcoin price has reached such high amount. It is safer than any other coin in long-term. Demand is still high and the price is rising. Yes, but why is the price so high? Does it make sense that it rockets in price while at the same time it becomes more and more unusable and more and more clear that no near-term solution to the problem exists? To me this seems like an exceptionally dangerous time to invest in BTC |
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g4r1n1m
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November 15, 2017, 12:20:55 AM |
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its good to split savings
or keep it in $ at exchanges , and rebuy with this $ at dips
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jmigdlc99
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November 15, 2017, 12:42:01 AM |
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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)  |
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