Transfer My Entire Savings to Cryptocurrencies?

[princesspoppy]

I suggest you do not put all your savings in cryptos although, we can see that bitcoin is continuously proving itself in terms of being a good investment just like other cryptos, still we are not sure until when will it continue to be like this (giving us good returns/profits). Also there are possibilities that an account can be hacked no matter how safe it is just like what you've said. 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.

[Coin12]

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.

At this point, i think i will not suggest you to put all of your from stock exchanger to cryptocurrency exchanger. I think you know the reason why. Because its very risk and like you said, cypto tramsaction is irreversible. So invest the amount you can afford to loss.

[sugihe]

Please dont ever think that transfer the entire money that you have to any of business or trading or whatever is good idea because its never been a good idea at all.
It is like put all the eggs to one basket and its not recommended.

[hisuka]

Please dont ever think that transfer the entire money that you have to any of business or trading or whatever is good idea because its never been a good idea at all.
It is like put all the eggs to one basket and its not recommended.

I like your point it is not good to put all your savings/finances all in cryptocurrencies. As we all know the entire system is volatile, we dont know yet when it will go high the prices and it may suddenly dumped. Just to make it clear never do it, spread your investment in other worth investment method.

[henriquelb]

I wouldn't do that, in fact, i invested a lot of money on bitcoins, but putting all your life savings? I do not think that it is a fair play.. You can lose a lot of money if the altcoin that you buy suddenly decreases. Or just if you invest in bitcoin, and at the next morning it is at $10 each.

[RealPhotoshoper]

Pls don't. Use stocks as a hedge. Maybe you can balance both portfolios. Do 60% crypto 40% stocks or whichever fits you. Better than missing some profits, you'll also miss some huge losses too. Or better stock up some fiat in savings, too. Everytime BTC corrects, you can rebalance your portfolio easily that way.

Fomo always make people act like greedy , you need to be wise to spread it instead do allin.
But of course it is your own money and if you think you can be responsible on any action you make to take that high risk , why not?
It gives you a big potential return , as long as you aware about the scheme where your whole money could disappeared in crypto!

[TorbiK]

Very bad idea. Risks are excessively high. The negative outcome of the investments will leave you without any savings. And this leads to destructive consequences.

[Meowth05]

Better to not to do thing thing because you gain to much risk. I guess you should save some of your money because how about if need a money that badly? Where you will your money? Too much risk will have a destructive consequences so you must think twice before you come up to this decision.

[Yzhel]

Better to not to do thing thing because you gain to much risk. I guess you should save some of your money because how about if need a money that badly? Where you will your money? Too much risk will have a destructive consequences so you must think twice before you come up to this decision.

Although, I really love bitcoin and would love to have it as much as possible still  I wont risk all my money and saving for this crypto, I will be grateful to have this but not all, what if I need money? then I will have to cash out my bitcoin savings what if that time it is at low price right?

[budz0425]

Better to not to do thing thing because you gain to much risk. I guess you should save some of your money because how about if need a money that badly? Where you will your money? Too much risk will have a destructive consequences so you must think twice before you come up to this decision.

Although, I really love bitcoin and would love to have it as much as possible still  I wont risk all my money and saving for this crypto, I will be grateful to have this but not all, what if I need money? then I will have to cash out my bitcoin savings what if that time it is at low price right?

Cryptocurrencies has a lot of surprises although we believe that bitcoin will grow and that will really make us profitable and rich still some of the cryptocurrency cannot say that they will live just like bitcoin had right now, if we will invest our money I suggest to do a 70% savings on bitcoin and 30% save it in a bank.

[1NV3ST0NM3]

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.

Its true that there is no return in this world as there is in cryptocurrencies. We generally see there is a coin each day which gives a 80-100% rise. Thinking this even if you aren't lucky enough you can make such return easily in month. But then comes the next question which is regarding the security. In my mind I don't even know a single exchange which doesn't has any scam or accusation against it. So I recommend you shouldn't transfer whole amount to exchange begin with small amounts only.

[cryptoblue]

I wouldn't recommend you transfer entire savings to cryptocurrencies, I think it wouldn't be a wise decision. You should invest a reasonable amount not more. Binance is a good exchange you can continue trading there.

[hoanghoatham04]

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.

Many have turned all their money into crypto instead of saving. If you make the decision to invest in crypto this will be a good choice. You can make a lot of money from this.

[yoseph]

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.

A bird in hand is worth two in the bush, if investment in the stock exchange has proved to be very lucrative, I really don't see any reason you would stop that and invest into something even more riskier. Just invest some of the money that you have made in cryptos but i suggest you don't go and invest a whole lot.

[kristensoto]

NO NO, that is not a good idea, you may take a very high risk that you will lost money if the coin you invested in crash or become useless because cryptocurrencies are just digital money, it may lost forever, so i wont suggest you should do that, instead you should split your money in half, one for cryptos investment, one is for investing somethings else.

[izanagi narukami]

Investing on bitcoin will make you a very rich millionaire or everything is gone before 2020 ! So make sure that you've think very carefully before invest all in.
I'm ever read about 1 family that invest all in into bitcoin so for now, they on profit point ! After some issue like South Korean exchange's problem ,etc they must prepare that bitcoin is going to downtrend once again !

[sebastianpenguen]

Better to not to do thing thing because you gain to much risk. I guess you should save some of your money because how about if need a money that badly? Where you will your money? Too much risk will have a destructive consequences so you must think twice before you come up to this decision.

Although, I really love bitcoin and would love to have it as much as possible still  I wont risk all my money and saving for this crypto, I will be grateful to have this but not all, what if I need money? then I will have to cash out my bitcoin savings what if that time it is at low price right?

Cryptocurrencies has a lot of surprises although we believe that bitcoin will grow and that will really make us profitable and rich still some of the cryptocurrency cannot say that they will live just like bitcoin had right now, if we will invest our money I suggest to do a 70% savings on bitcoin and 30% save it in a bank.

If you have huge sum of money, risk only 40% at most.

Never exceed some certain levels to protect your life. You can get rich, but you can get a poor person at the end if you take excessive risk.

[Kunlejoe0]

If you have means and character required for you to stay focus on holding your coin even when the tide is working against your portfolio, why not If not. Till date there is no any asset that has out perform bitcoin.

[allohha]

Investing on bitcoin will make you a very rich millionaire or everything is gone before 2020 ! So make sure that you've think very carefully before invest all in.
I'm ever read about 1 family that invest all in into bitcoin so for now, they on profit point ! After some issue like South Korean exchange's problem ,etc they must prepare that bitcoin is going to downtrend once again !

I think that these are not justified risks if you transfer all your funds to Bitcoin. Really, each of us has 100% confidence and confidence that Bitcoin will grow further? You think, after all its value for today is unreasonable and that will occur in the future it is not known.

[tech72]

Its best not to put the entire money in cryptocurrencies. As the popular saying goes - "Don't invest money in cryptocurrency which you can't afford to lose". I would suggest, may be 20% of your savings.

Or better would be not to invest all in one cryptocurreny and decide it into multiple so as to contain the risk.