Transfer My Entire Savings to Cryptocurrencies?

[coinsontheroad]

I think all your savings is way too risky. Diversify. Keep some in stocks and bring some into crypto. Maybe if you really get a feel for it you can bring more in at a later time.

[1715250723]

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[1715250723]

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[xPPx]

NEVER go all in. I don't care if there is a 99% chance of making 100%ROI. The easiest way to deal with investing is simply invest ONLY what you can afford to lose. Good luck!

[nightmanisrightman]

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.

If you must gamble I would say don't go all but have the spilt be 50 50 between stocks and cryptos. At that point don't take your 25k and stick it on one exchange rather use 5 if not 10 quality exchanges so that incase your funds get tied up you lose one fifth or one tenth of the funds not the things in one go. The key is to always diversify and like you said you are young you will get another chance but you won't know when, seize this one.

[shan05]

Don't put all your eggs in one basket. Investing your intire savings to cryptocurrency is a very risky decision. You can invest at least a certain amount or what you ca only afford to lose. But make sure you have a financial security in case you lose in this kind of game.

[dektox]

If you are ready to lose it, so take this risk, it worth it.
If not ready, it's better to put 8% of savings into CC.

[coinplus]

I think this is a very risky decision. If you transfer your entire savings to Crypto currencies you can lose because the price still volatile and there is no guarantee that it will rise in the future, even for BTC. So invest only what you afford to lose.

Honestly, with all that is being said on this thread every single day, and even with all the experiences in life, I do not understand why people still always want to take this path. Like you said, this is something that is plain risky.

We can say yeah, we have gotten to the stage where things are always going to keep getting better which of course there is no single assurance as no one knows the future, so why will anyone want to take the risk of going all in ?

[South Park]

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.

It is obvious that any new coin does not bring you any guarantees when it comes to your investment, only when you begin to invest in some of the most known coins you are going to get any kind of guaranteed profits and even with these coins you never know since you could wait for months and nothing happens and then in a matter of days you earn a small fortune.

[Marrionbitcoin]

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, just leave your money in the stocks because for me that is safer and you have the physical documents as a proof that you own a stock. You can consider Bitcoin or Atlcoins for trading with the amount you have had but don't withdraw all your stocks. It is very risky to "put all your eggs in one basket" because you might ended up losses so avoid that thinking. Just invest in Bitcoin the money you can afford to lose so you can never go wrong.

[BitcoinCommodor]

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.

We all know that it is always risky to place all your eggs in one basket. This increases your chances of going into loss that too some big loss. Diversification is kind of backup plans, if the plan A fails, you can go for plan B and so on. Among digital currencies, the first choice should be bitcoin and after that you may go for certain altcoins such as neo, waves, litecoin etc. because they have good market as well.

[rickadone]

I won’t suggest you to put all your savings in crypto. You should continue investing in stock market and use a certain percentage of your funds in crypto, diversification is the key.

As for storing your coins in exchanges, I strongly recommend you NOT to do so. You do not control the wallet and you never know when will the exchange closed down and whether you will be able to get back your coins. Leave the coins you use for day trading and transfer the rest to your coin wallets. I suggest a hardware wallet such as Ledger or Trezor for this.

I would not suggest that either. Things may look rosy now, but in the world of investments, you should always leave some space for thorns. With that in mind, there is no need trying to be too greedy trying to get all in and for someone who has been into stocks like the OP, no one should even be telling him that as he should know better. It is risky, anything can happen at any moment and all we have is looking out to see where the peak gets to.

[poplolnman]

I won’t suggest you to put all your savings in crypto. You should continue investing in stock market and use a certain percentage of your funds in crypto, diversification is the key.

As for storing your coins in exchanges, I strongly recommend you NOT to do so. You do not control the wallet and you never know when will the exchange closed down and whether you will be able to get back your coins. Leave the coins you use for day trading and transfer the rest to your coin wallets. I suggest a hardware wallet such as Ledger or Trezor for this.

I would not suggest that either. Things may look rosy now, but in the world of investments, you should always leave some space for thorns. With that in mind, there is no need trying to be too greedy trying to get all in and for someone who has been into stocks like the OP, no one should even be telling him that as he should know better. It is risky, anything can happen at any moment and all we have is looking out to see where the peak gets to.

Yeah never do that unless if you ready to lose it all , crypto investment have a high risk . If you put your money in crypto to use it in daily basis, I mean to use it transact actively then I guess it could be worth with less risk. Making crypto as an investment indeed risky , you need some knowledge to get started.

[bribed]

I would certainly not put my entire life savings in cryptocurrencies. Sure, we have seen great appreciation for cryptos in 2017 and this trend is likely to continue for the time being, but there is always the possibility to go the other way as well. Therefore Im always cautious and put only the money in crypto that I am okay with to loose entirely.
Thats the most important rule for me, if cryptos go south, it should not hit me harder than I can bear.

[ukelover]

My advice is do not invest all of your money in crypto currencies Invest what you can afford to lose and dont put all your eggs in one basket. Invest also somewhere else, study what youre getting into, for sure you invested your time and hardwork just to have savings for your future so be careful also.

[mulukey]

If that money does not affect your life then I think you can completely invest your entire savings into crypto. Because the crypto market is very active and developing very aggressively, this is an opportunity for investors to be sensitive to the market. I think this is a very good time for you to benefit from this crypto market.

[smusanne]

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 life it is always wise not to put all of your eggs in one basket, and this is even more true when it comes to investments and savings. While of late cryptocurrencies have enjoyed great success, there are still big risks attached and you should never risk more than you can afford to lose. Split your money across different avenues and you'll do good in life.

[layoutph]

Stocks is so slow, no offense but crypto will give you 30x to 42x profit in a year. Compare to stocks which can give you only a few percentage profit per year. The only big issue in crypto currency is the security of wallets. If you are in doubt of your current exchange site, try to spread it and invest in Poloniex, some from Bittrex, and Binance.

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.

[dblobee]

As all the others said already it's important to diversify. So all the savings in crypto makes no sense at this point. Speaking about the future of stocks we all don't know it now. Maybe the whole game changes and at some point we ask, is it worth keeping stocks cause stocks are only available for the big old dinosaur companies and not the real innovators etc.

[buffbryan87]

If it were me in this situation, i would move 10% from stocks to crypto and play with that for a while until i become confident enough to put more in. It is not a good idea to gamble more than 10% of your holding in something you have no hands on experience with.

[BitcoinNational]

Don't invest all your saving, I will never do it maybe I am wrong but someone gives me a good piece of advice when I started to invest : don't invest much that you can affort to lose. If you feel pretty confident, I would say 20% of your total is already a very nice amount to invest

[Golstrim]

Hey, mate, could you share your results? Apart from other people giving you advices I already know, that you have invested just all of your savings in crypto.