Transfer My Entire Savings to Cryptocurrencies?

[Portia12]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

The best thing that you can do is starting your own business from your savings because focusing into cryptocurrency is very risky due to the market prices which is unpredictable and you will never determine if you are going to earn profit or not.

[1715284018]

1715284018

[1715284018]

1715284018

[1715284018]

1715284018

[Ailmand]

Better not to put out all your money in stocks instead diversify you portfolio. Stocks are really ok for me in terms of making profit but yeah trading with cryptocurrency is a best market for me right now, I think bittrex is more secured compare to other but I'm not sure of course, better to do your own research about this but investing in cryptocurrency is always a good choice.  

I agree. Also, I think it would be far too dangerous and risky if you would put all your savings into cryptocurrency. Whether you focus on one coin or diversify it; the operative phrase here is "entire savings". You may not know when you will need the money for some important thing or even for an emergency. Thus, it would be better if you would just put a part of it because you may now know when you'll need the money. As far as cryptocurrency has been through, money is still king when it comes to things that needs to be paid.

[Xising]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

I would not agree with that plan mate. I say that because the cryptocurrency market is a risky market to be in. I am not saying that there is no chance for you to succeed, but it's just too hard, especially these days. Therefore, I would suggest to only use a part of your savings and be smart about your investments rather than using it all. It's because money is still more widely accepted than cryptocurrencies, and there may come a time when you would need the money more than the cryptocurrencies in your holding.

[crypto-Z]

I think putting all your savings in Cryptocurrency would be very risky and dangerous as crypto is volatile and one could lose  as well!

[lekam0213]

Yeah it was a good thing to know that you already have that big money but for me I think it is not a good idea to put all your money in cryptocurrency well let us just be practical. Its a nice thing to put some investment in cryptos but not all you have even if we say that part of cryptos are risk but thats too much risk so instread of all just put some of it.

[TontomHit]

If you would like to invest a significant amount of money to crypto, than it worth to buy a hardware wallet, where it is safer to hold the coins. Also, use the bigger exchanges, Binance is fine IMO.

[ahmad21]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

No, you should never do that. You must be familiar with the golden rule of diversifying the investments. Cryptocurrency market is highly risky and if you invested all your saving into it, you might feel helpless to meet your emergency needs. Also you might end up losing all your money if thing might not happen as you expected them to. So consider investing some amount in a market which is more liquid and less risky.

[bitcub]

This is the worst thing you could do with your self. Never put ALL your savings to crypto. Because we do not know what will happened next. Think about your family and your life,what will happened if suddenly all your coins were hacked?

[flatnose101]

This is the worst thing you could do with your self. Never put ALL your savings to crypto. Because we do not know what will happened next. Think about your family and your life,what will happened if suddenly all your coins were hacked?

True there is no assurance here unless you had been know everything and taking this as another money for you to grow it for but if this is not to be try to understand first how are you able to play your money here.

[Rodeo02]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

No, you should never do that. You must be familiar with the golden rule of diversifying the investments. Cryptocurrency market is highly risky and if you invested all your saving into it, you might feel helpless to meet your emergency needs. Also you might end up losing all your money if thing might not happen as you expected them to. So consider investing some amount in a market which is more liquid and less risky.

Exactly but some other people are not to be know of it and just make some decision that are can ever have to lead on failure why they have to take the risk if they are not yet been ready to face this for and just take their money in nothing. This is some of the bad idea to be make some study first before you may regret on it.

[george888055]

Transfer entire savings  in just one option is always very risky and doesnt matter if cryptocurrencies or stock markets. Think twice about it and do some researches before investing.

[Initscri]

#1 rule of crypto-currencies. *ONLY* invest what you are willing to lose.

Drop all the hype, and Bitcoin is a relatively risky investment. It might be worth it, but you could also be out a lot of money if not.

I'd recommend some form of diversification, don't keep all your eggs in one basket.

[crazy_elky]

I've invested all my money in crypto in 2013. It was a stupid act but I succeeded.

[RockBar0]

Yeah it was a good thing to know that you already have that big money but for me I think it is not a good idea to put all your money in cryptocurrency well let us just be practical. Its a nice thing to put some investment in cryptos but not all you have even if we say that part of cryptos are risk but thats too much risk so instread of all just put some of it.

Investing in cryptocurrency is a great way to make a profit on your investment, but be aware that not only investing in this market is profitable but many factors. to be able to succeed. So if you determine long-term investment in the market, then spend more time to study and evaluate the market before deciding on investment.

[kickdapa]

"No risk No gains " There has a common proverb in every investment sector. You want to take a risk, welcome! But If you transfer your entire savings to the cryptocurrency then in my opinion that will be a stupid decision. Never ever lose your backup. Always keep a backup before investing in any project. If your investments turn into a huge loss, think if you hacked by hackers and something like that then what will happen? So, I suggest you to invest 50-60% of your savings into the good Established coins.

[Criptomen]

"No risk No gains "............, I suggest you to invest 50-60% of your savings into the good Established coins.

I completely agree. Invest about 50% of your deposit, buy a few promising coins, do not put everything in one. If you want to invest for a long term, transfer crypto to a cold wallet. Yes u need to buy it but it's worth it.

[DevilSlayer]

I am at a point in my my young life where I need to make a decision about my finances. I have a good amount of money saved up in my Robinhood account, and I have been putting it in the stock exchange, making a steady but positive return. Keyword here is positive. I am very conflicted right now because I think I can earn more money trading cryptocurrencies, but the risks are so much greater.

I have a couple good alt-coins in mind that I would like to buy, but don't have the capital because it's all tied up in stocks. Also, is there even a reputable enough exchange that I can put ~$50,000 in and not worry about it getting hacked or stolen? I mean, with stocks, if in the off chance that my account gets hacked, they still need verification before money can be sent, and my money is ensured by the government. With cryptocurrencies, once it's sent, I have zero chance of getting it back.

What should I do. Should I move all my money from stocks to cryptocurrencies? And if I do, which exchanges are reputable enough? I currently use Binance and have only $1000 in there.

It is very risky decision, do not just put all of your savings on cryptocurrencies. Crytpocurrencies are so volatile, you can easily lose your money if you start making investment in wrong time.

[gabmen]

"No risk No gains "............, I suggest you to invest 50-60% of your savings into the good Established coins.

I completely agree. Invest about 50% of your deposit, buy a few promising coins, do not put everything in one. If you want to invest for a long term, transfer crypto to a cold wallet. Yes u need to buy it but it's worth it.

Even 50% for me would be a little too much of a risk already. I could think think of safer and more secure investmente where passive income is more assured than in crypto. Of course this market can set you up for good rewards but it's heavily unstable compared to others.

[btcmegastar]

"No risk No gains "............, I suggest you to invest 50-60% of your savings into the good Established coins.

I completely agree. Invest about 50% of your deposit, buy a few promising coins, do not put everything in one. If you want to invest for a long term, transfer crypto to a cold wallet. Yes u need to buy it but it's worth it.

Yes, but it is not a good idea to invest all your saving into cryptocurrency because if the market is growing we can able to make a good amount of money. Once the market starts increasing we can able to make a good amount of money, it is very risky to invest in cryptocurrency.

[Bubblestonemax]

In my opinion, I do not think that it is rise to move all your funds to the crypto market as this is very risky. Make sure you diversify your investment and also have some fiat as well in your account as well.