Transfer My Entire Savings to Cryptocurrencies?

[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.

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[onrise]

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.

Till the time you have a good risk taking ability and are young and can earn income from other sources at present you can invest some form your saving . One of my friends some days ago had invested 70% of his saving in cypto coins and today he has some 40% rise in few coins so he has sold some of them and few he is still holding it.

He said to me that even his savings become half just in case for now he can still support his family as he is earning a regular income from job. So well his risk taking ability is high so can afford it.

[bribed]

Well, as the crypto space is just making a name of itself its likely that we will see a more widespread adoption, but thinks could also go south and everything could crash for example if regulators start to ban crypto to maintain the old financial system etc.
I think putting life savings into crypto at this point is very risky and I would definitely think twice about this. If you are up for the risk, you can go for it, but if it would hurt you badly if you loose it all or most, I would step away from this idea and only put in what I am willing to loose.

[hritevanz]

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.

Making a decision is not easy thing to do especially when it comes to money and for me, it always depends on the situation.  In my opinion, transferring you entire savings to cryptocurrency is not a good thing to do because for sure, you'll be needing money in case of emergency and for your daily expenses. Splitting it into half would be better if ever something bad happened. I'm not a negative thinker, I was just thinking of the consequences in transferring all your entire savings to cryptocurrency.

[carlisle1]

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

trully mate we must put amount that we are afford to loss.investing all
your savings to crypto?what if something went wrong and the system collapsed?
what would be your recovering capital?just dont invest all your assets here we all
believe that bitcoin can make us rich.but this will also brings us to the lowest level
of livig in which is called poor.

[Tamilson]

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.

And having a huge profit comes with a greater risk.
Going all in  is like putting your life at stake and you don't have any assurance of getting back your money.
Cryptos price now especially bitcoin is really tempting and lucrative so no wonder many will take all the risk just to have a big profit without knowing that there's a big risk behind it.

[bitcoinmasterlord]

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.

And having a huge profit comes with a greater risk.
Going all in  is like putting your life at stake and you don't have any assurance of getting back your money.
Cryptos price now especially bitcoin is really tempting and lucrative so no wonder many will take all the risk just to have a big profit without knowing that there's a big risk behind it.

yes now the price of the bitcoin and altcoins are tempting newcomers to invest in these coins. But don't make this mistake you have good luck you can make a profit, but when we take a big risk, we have more chances to lose our money. So before putting your hard worked money to take some time and think and invest.

[alphalifter304]

I would not take your entire savings, I would take 25% at most and use that to hold for a long term. And be sure you have the proper verification setup and storage of your coins so that you do not get hacked and lose coins. The risk and drops are pretty huge with crypto, you put money into the wrong coin and you just loss. I would buy some gold right now, its a good time to buy.

[PrinceCaspian]

If you have a good flow of income and you have a lot of businesses that can support your in your daily life then there is nothing to worry abut investing or putting all your savings into cryptocurrencies because if you will put your savings then you will have a chance to earn a lot of money or profit by just investing and waiting for the price to move up higher.

[Oilacris]

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.

Those things you doubt is actually true which cryptocurrency exchangers are entirely different with stock trading brokers when it regards on bad situation do happen specially on hacking incident or any other ways of losing money for its traders. The thing on here that once cryptocurrency coins been hacked it would really be hard to retrieve it because of irreversible nature on most cases.If you do have still doubts as of now then why not try on half of your holdings on stocks to be putted on crypto trading? If you still afraid then better to think it carefully because anything do have its own risk.

[biboy]

If you have a good flow of income and you have a lot of businesses that can support your in your daily life then there is nothing to worry abut investing or putting all your savings into cryptocurrencies because if you will put your savings then you will have a chance to earn a lot of money or profit by just investing and waiting for the price to move up higher.

There is a risk if you will put all your savings in cryptocurrency, unless if you will put it entirely in bitcoin only or a little part would be in altcoins, it is your advantage that you have your money that can grow well unlike if you don't even have a bank account or money on it. Go and take risk and of course monitor always your investment.

[xsaints128]

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 need to go all in cryptocurrency. There aren't any exchange at all which you can trust with your 50000$ because many good and reputable exchanges even get hacked and some even ban your account without any reason, bittrex did so and still didn't do anything about those banned accounts, quite a lot of those accounts had a lot of money in them.

[Mpamaegbu]

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.

First off, let me start with the exchange advice. Yes, you can use Poloniex if you seek an exchange that keeps a clean record against hacks. But I wouldn't pile up that huge amount in an exchange if I were you. Secondly, don't plunge all your savings into a single business venture, no matter how lucrative you think it is. You can do 50% if you think the business is a money spinner.

[DanWagner]

It doesn't look like a smart decision , it also depends on your age . If you are young you can make this money back more easy then if you are older.
But since there is so much hype right now i would advise you to maybe put 5/10k in and wait for a year. Get to know this space and then decide if you want to invest more.

[coino.org]

Oh my goodness, I wish I had 100 mil $ before 21 years old
So, put about 70% in crypto, 30% leave in stock. And also difersify your money in several exchanges. Also something like 10 thousand I would invest in several ICO.

[dave111223]

Risky but if you never take risks in your life, your life will be boring and you will never achieve greatness

[worle1bm]

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.

In my opinion you should not convert your entire savings into crypto because it is too much risky and anyone won't afford to loose all their savings in just one go so make strategy according to your decision by diversifying your investment at different sources not only stock.Although the market for crypto is doing well at current but future is unpredictable.So its better to keep almost 40% in stock market with good returns and turn other into coins with good potential like LTC and ETH.Rest choice lies with you.

[nipu]

If you like challenges then you can put all your savings. If not dont want to put your all the savings to the cryptocurrency. Because you can earn much more with half of your savings

[South Park]

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

The reason for that is simple most people invest to win and think they are going to win when they make those investments can you imagine your surprise if your life savings turned to zero, you will need to start all over again and your motivation to do so will be very small since you will be depressed.

[furry04]

If I were you I would split my money and invest just the profits that I have made from the stock exchanges because the future of coins is still foggy and no one has an idea what will happen next.