Transfer My Entire Savings to Cryptocurrencies?

[wuvdoll]

I do read these types of threats over and over again and mostyl all of the answers sound like: never ever invest all your savings in afluctuable market like this. For sure you should have been doing this back in 2013 or back in 2014 or last month but even since I am a strong believer in btc and some alts (ltc, for example), your investment could turn out to be worthless one day...
good luck though

Even at 2013, no one should have done that. For those who did, it could have paid them now, but that does not remove the fact that it is still a very risky one to take. The bigger the risk, the bigger the profit as well as the loss and unless for someone who is not afraid of starting all over again, then that is their call to make.

No one can make that decision for anyone, but at least any decision that one is ready to make, there must be readiness to accept the outcome however it happens.

[crzy]

Diversify your investment to reduce your risk , don't put all your saving in stock or cryptocurrency. I think you should add some promising cryptocurrencies like Bitcoin, Ethereum and Ripple to your portfolio since they are very well know cryptocurrencies. you can be millionnaire if you pick the right cryptocurrency since x10 is nothing in cryptoworld but remember only invest in altcoin with high liquidity so you can cashout easily. When it comes to storing your cryptocurrencies, you need to store your erc20 and Bitcoin tokens in a hardware wallet.

Diversification is a game changer and that can save you from loosing money. Putting your savings in cryptocurrency is really a good decision but learn to spread it. Invest and hodl good coins so you can have your profit in the future.

[Gotottack]

I do not subscribe to the idea of putting all eggs in one basket. I am a believer that nothing is ever guaranteed hence you have to play smart at all times. While I am a solid believer of Bitcoin, I still do not recommend you to transfer your entire savings to cryptocurrencies because you would be putting too much risk on ALL your hard earned money. That move is not so bright and can in fact make you down to zero.

Always diversify in business. It is ultimately the key to save you from exigencies. 

[beerlover]

It would be good idea. Personally, I receive my salary in bitcoins and I hold it in my hard wallet. I spend money from freelancing incomes and invest the rest in promising crypto projects. Remember, DON'T PUT ALL EGGS IN THE SAME BASKET. Your entire savings in crypto => yes Your entire savings in bitcoin => NO

You started it out well, and then you ended it badly. Sorry, I had to say that. I am not sure if the only place you get your salary is from the crypto world and probably you also get some from the outside world which you are saving some of it or investing in other areas. Sure, crypto may be here to stay, but the last word of even investing all in crypto is still a risky move.

You should have a certain part of your savings into the crypto world, and then you can diversify some of it which i feel is the best thing to do.

[Sarastiche]

It is good to spread your risk and not haveyohr investment stack in a particular segment. Investment in cryptocurency is the wayo go in this age,share lose value and return on share over the years cannot be compared to what crypto pays.but ensure yu research well on the coin you want to invest in.

[BureauChef]

Diversify your investment to reduce your risk , don't put all your saving in stock or cryptocurrency. I think you should add some promising cryptocurrencies like Bitcoin, Ethereum and Ripple to your portfolio since they are very well know cryptocurrencies. you can be millionnaire if you pick the right cryptocurrency since x10 is nothing in cryptoworld but remember only invest in altcoin with high liquidity so you can cashout easily. When it comes to storing your cryptocurrencies, you need to store your erc20 and Bitcoin tokens in a hardware wallet.

Diversification is a game changer and that can save you from loosing money. Putting your savings in cryptocurrency is really a good decision but learn to spread it. Invest and hodl good coins so you can have your profit in the future.

Game changer but how... If you get the promising ones, you can get into rich world. If you picked the unlucky ones, nightmares would start in the night time for you always.

[finzyoj]

I do not subscribe to the idea of putting all eggs in one basket. I am a believer that nothing is ever guaranteed hence you have to play smart at all times. While I am a solid believer of Bitcoin, I still do not recommend you to transfer your entire savings to cryptocurrencies because you would be putting too much risk on ALL your hard earned money. That move is not so bright and can in fact make you down to zero.

Always diversify in business. It is ultimately the key to save you from exigencies.  

right, it is not wise to put all your money in crypto currencies when you could just use a portion of it and the rest, plan to develop a business that you know is in trend and which you like. For me, savings are very important especially for emergencies. We do not know when exactly we will be needing some money so keeping an amount is very important. Don't rush things out by risking money in crypto currencies, it may be in trend now but its price is not always on the rise.

[Gabb]

Nobody in their right mind would be willing to invest all their savings in a market as volatile as the cryptocurrencies, where the uncertainty is usually even greater than in ordinary markets and cause the tremendous waves of volatility that already characterize this market.

As in any moderately responsible investment scheme, perhaps you should confine most of your savings to the current conservative scheme that you manage, and only risk 20 or 30% of your savings in cryptos.

[okala]

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 will advise you to get an hardware wallet and buying some coins and save them in that wallet instead  of opening account with an exchange and bought coins an keep them in exchange. However I read a thread were the op say ethereum is going to hit $5,000 in 2018! If this happens and you get some ethereum now and save them in your wallet with the aim of sale them this time next year you will seriously make good profit. Hope this help.

[elloco4ever]

It is good to spread your risk and not haveyohr investment stack in a particular segment. Investment in cryptocurency is the wayo go in this age,share lose value and return on share over the years cannot be compared to what crypto pays.but ensure yu research well on the coin you want to invest in.

That's a nice piece of suggestion but I still feel investing everything into crypto will not be a smart choice rather you can invest 50% of funds into crypto and then once you start getting profit you can invest it back into crypto by being upto date and spend more time going through the factors affecting crypto world

[Indrawan77]

It is better to split your investment however we need to follow the flow of the market maybe you dont need to put yoo much on the stock, because crypto is the hot trend, I am sure you gained more profit in crypto currencies, but it is still a good idea to have a back up plan, maybe 70% in crypto and 30% in other investments is a great proportion

[South Park]

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.

You seem to have a good understating of trading and investments a basic rule is to not invest everything in a single investment, not only that you seem to be eager to invest your money in altcoins and not in bitcoin which means you are going to take an even greater risk than many people in the forum are taking since most holders hold bitcoin and not alts.

[LeChatNoir]

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 never go all in, put at least enough money on the side to live off for one year, if your really young and want to go riskier then go for it and use the rest for crypto. I use Bitstamp a lot.

[Jasell]

As they say, Diversify your investment. Don't transfer all your savings to crypto just leave some for stocks. Equip yourself first with the necessary skills before deciding whether or not transfer a bigger portion of your asset to digital currency.

[ngacengan]

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 seems better to move to a more secure exchange market like binance or bitrex lest your money steal because it is very harmful to you. leave little in the stock exchange to play a little there.

[kaysersoze]

We all know that cryptos are hugely profitable, but moving all your life savings here? i dont know if it is a good idea, and trust me, i am a huge crypto believer, but i would never do that.

Remember this roule, you must diversify if you want to success, nothing more.

Diversify and hard work are the keys.

[rickadone]

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.

In fact, 70% is a lot huge already and anyone doing that is already taking a huge enough risk already. It could be worth it in the long run, but one thing to note is that as much as it could be worth it, something shitty can also go wrong. However, it is a good thing knowing that the crypto space is gradually getting established, so it can still be something of a risk worth taking, but not all in.

At this stage, every smart person should even know better than to transfer all their savings into cryptocurrency. That is just like an absurd thing to do considering that it is a lot of risk to take. The reasonable thing to do is never get greedy and only put in something that you can consider easy for you to lose. Anything can happen and even with the level of optimism, wisdom is required.

[zmkriel]

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.

I so agree with what you suggested but as kept on saying with my post about decision making. The decision will always be depend on the holders. But personally, if i will to decide for my savings. 50/50 is the best in anyway you will still earn in both investment.

[bamb]

Dependng on how long you fund stay in cryptocurrency! If you are looking at a long term, that may not be a good idea. But if you stay six months, there is nothing wrong with that. About security, Find the meaning of cryptograph! Bitcoin is the most secure currency including many of he haxadecimal based addresses of many altcoin. Theft only happen when people make mistake.

[kiwasmose]

I have left the stock market and don't know which country you are in. I think only a large capital and professional investment company can make a lot of money in the stock market. The stock market is less profitable, but the risk is not too big, and the encrypted currency market is just the opposite. I think it is the most prudent to decentralization of investment.