Transfer My Entire Savings to Cryptocurrencies?

[gamalzour]

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 wouldn’t advise you to move all your savings to cryptocurrencies, it’s very risky, there is nothing wrong with it if you leave it in bank. If you want to put your money into cryptocurrency, don’t put all, just divide it and put half of it or any amount you can afford to lose. Bitcoin is risky and profit does not come all the time. I remember that there are people who lost up to 50% last year.

What you say is very reasonable, cryptocurrency does not always bring us profit, risk is something that always exists and appears very unexpected in this market, just with a few minor flaws and if we do not spot it in time, losing more than half of the capital is very normal. However, we still can not deny the profit that crypto has brought, many people suddenly become rich with crypto in just a few nights when they invest all their savings on it, so back to the question of the topic, the answer would be that as long as we know what we are doing, everything is possible

I think this is one very bad idea to transfer entire savings to crypto because you cannot be so sure about the future of your invested money in crypto. Anything can happen. All you need is to apportion your savings and invest it in anything that can give you return and is free of risk. Invest in traditional assets, gold and silvers and finally in Bitcoin and ETH for these are the two extraordinary crypto in the market.

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[BitcoinCommodor]

Please don't. Please do not put all of your savings into cryptocurrency. To all people considering this, don't do it. I am very bullish on crypto and I believe everything (aside from some horrible scam coins) will go up x100 in price one day (tomorrow or a decade from now, who knows) but I still want you to not invest with ALL your money because in the end this is a volatile market and you may not have the best days so you need some of it at a safer option.

[pumbum]

allocate money in different stock exchanges, because you never know which market is more reliable. regarding trade, I recommend to place large lots on the top coins, and trade only a smaller part of the Deposit. these are basic rules that must be followed. otherwise, your 50000$ will turn into the head more in case of not respecting these rules

[Azima85]

First of all, imo you shouldn't move all your capital to crypto. It's very risky, and you could end up losing more than you think you will. Second, you don't need an exchange to keep your money. Buy the coins you want, download the wallet and transfer your coins to the wallet. It is very simple, and it is far safer.

[ivankoh]

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 wouldn’t advise you to move all your savings to cryptocurrencies, it’s very risky, there is nothing wrong with it if you leave it in bank. If you want to put your money into cryptocurrency, don’t put all, just divide it and put half of it or any amount you can afford to lose. Bitcoin is risky and profit does not come all the time. I remember that there are people who lost up to 50% last year.

What you say is very reasonable, cryptocurrency does not always bring us profit, risk is something that always exists and appears very unexpected in this market, just with a few minor flaws and if we do not spot it in time, losing more than half of the capital is very normal. However, we still can not deny the profit that crypto has brought, many people suddenly become rich with crypto in just a few nights when they invest all their savings on it, so back to the question of the topic, the answer would be that as long as we know what we are doing, everything is possible

I think this is one very bad idea to transfer entire savings to crypto because you cannot be so sure about the future of your invested money in crypto. Anything can happen. All you need is to apportion your savings and invest it in anything that can give you return and is free of risk. Invest in traditional assets, gold and silvers and finally in Bitcoin and ETH for these are the two extraordinary crypto in the market.

I also think it is advisable to diversify your investment instead of putting all the money you have into cryptocurrency. Risks are an unnecessary virtue in this market, investors need to use rational and market judgment to be able to make accurate decisions in each difficult period of the market.

[Oilacris]

If you are aware on the possible risk that might happen into your life then proceed since its your money after all and theres no person would able to stop you on making such thing. Just be ready on the consequences or results if the market would turn opposite or against you because this would mess up your life because we do talk about entire savings. High risk= High reward but there are really times we do need to secure or diversify or set out back up plans if one thing is messed up.

[Lodipetmalu]

It was not an ideal to convert all your savings to crypto currencies. Because, based on the price in the market, it was not yet stable. And it is not marketable, so you can not easily convert it into cash when you need it.

[ratna altika]

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.

[Ashong Salonga]

transfering all the saving into crypto currencies will be very bad move u should be facing lot of problems once the crypto market is on crash mode so dont do that step

Investing all of your savings in to cryptocurrency is great decision because we all know that cryptocurrecny is will be the future of this world and if you can able to choose a great crypto, like bitcoin and ethereum for sure the money you will invest can grow very high.

[sultanali]

No this is not the best of all the moves, yes give at least 40% of your savings to bitcoin or any other long-term investment in the cryptocurrency but never invest all of your money in one market, no matter how sure you are you can never be certain of its success

[s0beit]

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 think it would be too risky for you to rely all your necessities in crypto alome since you are investing all of your savings. There should be a limit when it comes to investment. There should be something left for your needs as well because it would be risky to put a lot in a kind of investment.

[jayhawk1]

You should not put all your money in the cryptocurrency so you will not lose what you cannot afford to lose. You can divide your saving to a different coins so that if you lose the one that you invest there is on the rise you up from your lose. If you only invest in one coin the it lose you will not earn what you invest and you might say that if you did not invest in the crypto currency then you still have money for your daily needs.

Of course that is so. You should never invest all your money in one crypto because it is too risk You never know the future of the coin you invest in because the crypto is an uncertain world and one should hold a diverse portfolio of good coins to reduce his risk of loosing and maximize the future profit. You should also invest a part of your savings in  some traditional asset to have a constant flow of income.

[coinhunt]

I think I’m gonna agree with rumexx. You can invest a part of your savings in crypto and leave the rest on the stock. As for reputable exchanges, I think that you might try something like cex. They’re offering cold storage for crypto funds and many other security measures, which inspires confidence.

[diger]

 I would suggest you to make balance on how much money you want to put in your savings as well as in cryptos, better to divide it wisely, cause just like what i've said, bitcoin and other cryptos continues to prove itself in the market, there are also possibilities where it can give as better profit and it would be a big regret if you do not make wise decision on what to do with your money.

[shulc7]

I would suggest you to make balance on how much money you want to put in your savings as well as in cryptos, better to divide it wisely, cause just like what i've said, bitcoin and other cryptos continues to prove itself in the market, there are also possibilities where it can give as better profit and it would be a big regret if you do not make wise decision on what to do with your money.

Right, when you take a decision like that, always remember that at least 35% of all your assets must be left untouched. The market is not stable, and you can lose before you earn.

[gorodi]

switch your money to cryptocurrency is right. however higher in case you invest best the extra cash due to the fact cryptocurrency is volatile investment and viable your money gone if the altcoins that you buy unload or long past. however as soon as the altcoins you purchase boom you may get more earnings.

But not everything! You must agree, the guy should leave the money for his life and emergency. Yes, the crypto investments finally bring the profits but you will have to wait for it too long! Just think it over.

[congthang88]

I think investing in e-money is not a good idea. Invest in risk-free investing so you invest your spare coins so that it does not affect your life. 

[Rodeo02]

switch your money to cryptocurrency is right. however higher in case you invest best the extra cash due to the fact cryptocurrency is volatile investment and viable your money gone if the altcoins that you buy unload or long past. however as soon as the altcoins you purchase boom you may get more earnings.

But not everything! You must agree, the guy should leave the money for his life and emergency. Yes, the crypto investments finally bring the profits but you will have to wait for it too long! Just think it over.

Exactly not everything here in crypto can you ever have to trust on , what exactly also have to think is how much money are you able to save by your self that making profit and make to have some double your money for are not as to take to be bad but always think every possible to happen.

[cuongdola211091]

I think you should divide up the funds for your investments and consider your decisions. Before investing in the electronic money market you should understand its risks. You should equip yourself with knowledge of this market before joining

[maxreish]

Before you do this my friend, you will prepare yourself first for the possibilities it will bring to your life. For me, your plan was very dangerous. I can not really imagine that you transfer your entire savings to cryptocurrencies investments. Only one mistakes here, your life will be affected and ruined.