Transfer My Entire Savings to Cryptocurrencies?

[Ahooleeman]

Whether you believe or not investing all your money in any single investment is not advisable because there are chances that you may lose a lot of money if something goes wrong in the crypto world. That's why try to diversify your funds and invest in different products. If one of them fail also you can cover up with other profits.

I don't use cryptocurrency as an investment instrument. That's the difference

[BitcoinIsTheAnswer]

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 is it a crazy idea , but as long as you can manage loses in case of.
You seem to be an old member of bitcointalk, so you must know what you'r doing.

[buwaytress]

You're at a point in life where you probably feel you have to set yourself up for financial freedom. That is good. But you have a bit to learn about risk and security. You must have savings, tucked away and secured and guaranteed in some form by insurance. Don't confuse that savings with your nest egg. Take some to invest, sure, but never go all in.

Secondly, you already have trading experience so you know never to put everything in one basket. You want to trade, fine, but use the same principles of diversification.

The simplest diversification to do now is to invest part of your savings into Bitcoin. That's the only advice I will ever dare to give.

Trading crypto is riskier than anything you've encountered!

[-Redacted-]

This is a good plan but I will advise you not to put all your savings into crypto currencies as this is too risky and you may not be safe financially doing that. I will said you should put around 50% of your savings into crypto currencies and the remaining 50% in the bank and stocks as you have been doing and get positive results. Bitcoin investment though very profitable has a lot of uncertainty in future. No one knows what is going to really happened as governments all over the world has been kicking again it advancements.

The crypto world in principle can not be predictable and stable by one hundred percent. therefore in this council there is a reasonable grain

[Voice-Of-Reason]

Don't put all your eggs in the same basket, serves for everything, cryptos and stocks and savings...

Diversify and I personally never put into an investment more than I am willing to lose.

[criz2fer]

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.

For a hero member, I think you have already know what are the risk in the crypto currency. From your previous posts, I think its a joke that you are asking the community about where you should invest to. Of course you should "only invest what you can afford to lose" just like what you have from your other post.

[okissabam]

I'm not sure if you just want an honest opinion on others because you are scared of what might happen to your savings if you put it all in the cryptocurrencies or you already know what would happen. But either way, if you are hesitant on your decision on putting all your savings to cryptocurrencies then trust your instincts and don't do it.

[naidray]

I would never put my entire saving in cryptocurrencies.

Let's be honest, it's true that the market is performing very well but you don't know what can happen, and you can't deny the risk to lose money (for whatever reason, I am not talking about to be hacked or something similar, it's something that you should take care with everything).

If you diversify your portfolio you minimize the risks of loss, diversity is a golden rule in investments. To be greedy often lead to the wrong decision, especially when you're young. Use a little wisdom, it will be more beneficial in your decisions

In fact, just like you said, every reasonable investor will tell anyone this. There are some things we do not need to allow greed to cloud our judgments.

Yes, it may turn out good; after all, if I had gone in $100,000 full of my saving in 2009/2010, I can imagine what I would be worth now. But the truth is no one knows the future and we are all at its mercy. Anything can happen, and as far as that is, one just have to consider it as a factor which could make one lose everything if one goes all in.

[richmcrich]

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.

Stocks are good but risky too even if they may not be as risky as cryptocurrency at the moment. However, with some
of the things going on in the crypto world, it seems we are really getting to the point of no return and we can
start seeing the crypto industry doing well in the long run but no one knows the future. Just like you said, the
best is to diversify rather than putting all eggs in one basket. At least, it makes one’s mind more relaxed.

[TravelMug]

I'm not sure if you just want an honest opinion on others because you are scared of what might happen to your savings if you put it all in the cryptocurrencies or you already know what would happen. But either way, if you are hesitant on your decision on putting all your savings to cryptocurrencies then trust your instincts and don't do it.

As for me I will not trust my instinct here. Its the OP entire life savings, in a blink of an eye it could be gone in just a matter of months. But if I in the shoes of the OP, it's risky to invest everything on crypto, of course we are seeing a good price increased this year alone, but the future is unknown. And also, why not diversify? If the OP is hesitant and skeptical, just try 50% on crypto and see how it goes for him.

@OP, one thing on your side is that you have a lot of time in your end. There will be a lot of opportunities that you will see along. Just don't put everything in one basket.

[qiwoman2]

I  don't earn fiat anymore and only have crypto currencies, but one day am looking at diversifying some profit into fixed assets like real estate etc. It's always good to hedge and diversify your portfolio but if you can invest to buy 2-3 Bitcoin and use some of that to get your multipliers in other crypto currencies, then by all means go ahead. You need to assess the risks, your confidence level to go forward and also any downside, before putting in a large sum of money.

[Triple]

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, don't be stupid. Why would you risk all of your saving to something you are hardly know it? Try to invest a bit of your saving to gradually know a basic and only then, make an important choice like that.

It's not something that I hardly know about. I've been in the cyrpto game for about 5-6 years now. I've always traded BTC and ETH and always converted them to fiat so I can place them into stocks. Just recently I've noticed that exchanges can give me the same, if not better opportunities as the stock market, and that's why I'm considering this option. I would never just throw money at something that I hardly know about.

[pugman]

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.

There is no exchange which can never be hacked, number one. So try keeping your majority in a cold storage. Do trades, and when you sell it, either buy back something else or transfer it back to your cold storage. Verify your account no matter what, for you're depositing quite a lot of money. Definitely do not invest your entire 50,000$ in crypto, it's too risky to lose but at the same time you can gain impressively. It depends on circumstances that you cannot predict exactly. I say you put 25,000$ in trading. Diversify the trades. Choose the exchange which would helpful for your interests.

[Olalomi]

It is not advisable to transfer all your saving into cryptocurrencies I will rather advise you to invest only 50% of total savings and keep the rest in your account of course due to the volatilty of the price of some cryptocurrencies your investment will also appreciate in value but there is also risk attached to it.

[crairezx20]

Here in cryptocurrencies there is no safe here everything could be change the price is not stable and everything could be possible everything is online in crypto but you can reduce the risk from choosing the right decision and i recommend to you if you really wanted to hold all of your cryptocurrency better to use a hardware wallet for safety of your coins..  
Just choose the top 20 altcoin  you wanted in coinmarketcap and hold it for  a long time you can make good profit..
If you are looking to transfer all of your savings into crypto i will say 50% of your saving should be in bitcoin because of massive increase of bitcoin i think you can make more profit if you invest a lot in bitcoin.. and 50% in 5 altcoin should be enough i think to make a good income..

[Dudeperfect]

I believe that Bitcoin and some alt-coins have a tremendous future and they are going to perform very well in the long run. However, I would not invest my ALL savings in it. Blockchain has a good potential but again, things are still in the development phase and anything can happen down the road. At this stage, you can take the risk and invest a comparatively larger portion of your savings in crypto but I wouldn't recommend investing all of it. You can even go with the systematic investment plan in order to deal with the risk.

[usorin]

If you don't want to transfer all your saving in cryptocurrency then probably you should do it with a certain amount of it and you will see that it is worth it.

[DubaiCrypto]

This is a good idea but you should remember to transfer your savings only. You should have more investments to reduce your risk because the current crypto market has a lot of potential but it also comes with huge risks.

[Slow death]

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 think it is not with the hackers that you should worry, you should worry about the exchange itself, how? Nowadays many exchange let their clients deposit bitcoin in their exchange and then they block that person's account and when that person send support ticket, exchange support ignores that person's problem, the exchange simply does not answer support tickets

but the risks are so much greater.

truth, especially because many exchange has no phone number and physical office
 

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.

Have you ever had problems with binance and how many people have complained about binance? this is the point, another option that you can use Bitfinex and GDAX

[babysweetTiger0401]

Ok buddy, Savings is good but transferring all your savings to cryptocurrencies is not advisable. maybe 70% of savings can be use and the other 30% use that for other things which are important.