Is it smart to keep all or almost all savings in prime cryptos like BTC, ETH?

[A L I E N]

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, it is. In a way this is the choice of those people, who do not like to risk and who choose the variant that will bring them any profit, even the smallest one.
Risky persons often trust minor cryptos and win a lot, but the risk to lose here is also big. 

[SiDtHeBeSt]

I don't think someone should invest all of his/her money in cryptocurrencies as their is always a risk. The prices of the cryptocurrencies are not stable and they might fall. I think someone should invest about 25% of his savings or maybe a little bit more but never 100% of it. If might not get loss even if you invest all of your money in cryptocurrencies though but still you should be careful and don't invest if you don't want to lose any money.

[cryptofunn]

as life showed, if I kept all my investments in bitcoin and eth, I would get a lot more profit than with altcoyins. now I'm sitting in the altcoys and wait until my balance is profitable

[chidrawarster]

It is always wise to keep the investments in long term altcoins (BTC,ETH) .There are many other coins as well but it all depends on the market cap and their performances in the past. I still advise invest only what we can afford to loose , i would always invest 80% of the portfolio in major coins and rest of them in other altcoins based on the research and their market cap. Keep investing in good coins and reap profits.

[popolite11]

In case you are not a risky person and prefer to get better a small amount of profit money without a fear to lose much, you should better keep ETH, DASH and Bitcoin. Trading with smaller coins might be more profitable, but it is risky.

[robocop3]

I do not think !You can not just put all your life savings in here because you dont know what is going to happen.
If u put all your saving to cryptos, a little drop will make u very discomposure.
It is so risky, this is the main reason of why i would not put all my life savings in here.

[QFT]

Is it smart to put all your eggs in one basket? No not really.
Is it smart to keep all your savings in crypto? This is a question for the future, if you end up being a millionaire then this will end up to be a "smart" move.

[gazilla]

Hi
Even though i do consider Bitcoin, Ethereum and many other altcoins as reliable, I do not think you should keep all your savings on just crypto whether Bitcoin, Ethereum or other altcoins for that matter, as it is always good to have some cash around in case you need it for whatever, or even gold. So yeah...a great percentage of savings in crypto is good but also real cash and gold.

[sculptoris]

Smart split seems to be needed at all times in order to make sure you have more chances to avoid any fail just in rare case that everything goes wrong, even in theory. Going or keeping "all in" every time with regard to anything can be risky.

[hell3r]

Actually Yes, BTC and ETH are the only currencies that is safe to entrust all your incoming savings. This a smart move cause you are consistently aware of the outcomes of your savings time by time instead of investing big time all at once. But in my stance, I keep all my 70% savings to ETH and BTC and 30% to my USD wallet. Just to have a safety line to fiat and currency cause sometimes these cryptocurrencies are having some major breakdowns. But it is all up to our personal strategy. Hope we all make our plans and keepnour savings and investments safe. Goodluck!

[RameshSekar]

Yes investing in prime coins are somewhat safe. But investing in New coins, ICO are like gamble.

[styca]

In general the closer it is to the top in market cap, the less of a risk it is. But it is all a risk to some extent.
The biggest mistake I made early on was to go all-in on alts and not have any BTC. Thankfully I rectified that, and I now have a split that I'm happy with. But I would say always have a good percentage of your crypto in BTC.

[Mrjitter]

I already keep my savings in bitcoin and ether but I think I'll sell part of it as I think that the price will drop a bit for everything but for now I'm in meditation

[joshmontford]

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.

man bitcoin is also being manipulated haha, but i guess it is a good one because it gives you so much value with its massive price pumps

[biletskiy]

Maybe this isn’t smart but it is wise to keep your investments in some most popular cryptocurrencies. ETH continue to grow, Bitcoin smashes $15000 barrier already. So this is wise decision to buy this coins.

[p i e c e]

well a long time ago i would have said no way that they have already had there run and you can make a lot more in other coins. But after the events of this week who knows maybe it is the smart thing to do. What if bitcoins rise doesn't stop and it reaches 20k usd in price soon. than all the people that sold theres and are waiting for bitcoin to dip before they buy back will all miss out.

The situation turned out that it has become really a very smart decision to keep all cryptos in Bitcoin and Ethereum. The market of cryptocurrency is shaking — the unpredictable situations happen, some exchanges are offline as they are overloaded.

[qazgroup]

Absolutely yes, I believe btc and eth are the best coins to hold, I do not like quick flipping in icos or pump or dump, if you think the same then just hold btc and eth.

[erickkyut]

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 that would be the smartest move. Keeping your money on Bitcoin and Ethereum. Putting my money in the bank is not that I can call an investment. In our country, the highest annual return in the banks is 0.25% and it is also taxable. So after a year, you get losses and your money is subject for inflation. It is the safest move if you will invest in cryptocurrency, put it in prime coins but if you want for faster results, I suggest try investing on other altcoins and ICOs. All you need are proper knowledge about it.

[velive08]

very smart if there is someone who stores btc and eth let alone in the long run. because eth and btc now has become one of the coins that have good price and bright potential in the future.

[Red-Apple]

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.

man bitcoin is also being manipulated haha, but i guess it is a good one because it gives you so much value with its massive price pumps

every market has its manipulations. there are no exceptions in the real world.
what matters is that how much a market is manipulated and how successful it is. i would say for bitcoin the success rate is small and it is shrinking as bitcoin grows bigger.
but for altcoins it is extreme because when someone simply has millions of some coin out of thin air (eg. premining it) that is not a fair market you can play with. you either have to stay away or go with the wave and dump before the whales do.