Transfer My Entire Savings to Cryptocurrencies?

[HEvangelista]

I do think that if you can afford to put all your investment eggs in one basket then I would think you need to put it on a project that is the most important of all - active. Active meaning it has updates and developments and people always keep on updating investors and enthusiasts.

[ryzaadit]

Well my opinion better dont use your saving money, just use free money if you have. If you have losing capital so you will not losing your money for your life. Its called money management put all your saving money into a investment its a bad idea for psychology so i hope you think twice before do that.

[TheNextChampion]

That's a bad idea to start your crypto journey because you are risking your savings here in cryptos. You know that there is not guaranteed that we could earn in a span of 1 month or even 6 months. Putting all your hard earn money here means that you are aware of the consequence. If the price went down then all your savings will be less. I suggest don't put your savings here rather put only money which you think you can handle if you loss.

[Altcoindealer]

I think investing all your savings would not be a good idea. You have to know that cryptocurrencies are high risk investments. Even when there are some people who made this in the past and get very rich. The chances for a new bullrun are low, and maybe it will take some years before we will see a new alt time high of bitcoin!

[xSkylarx]

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.

We all know that cryptocurrency is profitable and there are risks that we have to take if we want to gain a good profit. However, we should still know what our limits are. Putting all our earnings in it would be risky since we don't know when will the market recover again. Make sure that you limit your investments.

[hujanderas]

Just take some of your investment and buy a crypto with it, Do not keep your crypto currency in exchange because many of the exchanges have faced the problem of storing it in the wallet. Download your personal wallet and move your coin into it. Consider buying a hardware purse because this is the safest.

[emmybd]

In my opinion, you shouldn't transfer your entire savings to cryptocurrencies. You can keep a decent amount (20 percent of your savings) with you in case you need it. By the way, as you have got the funds trading cryptocurrency is a good idea. You can make a good profit in the long run.

[ShadowBits]

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 wouldn't recommend that if I were you. Since you have noticed that crypto is so volatile and might even go to zero if something will happen very wrong.

[panjul07]

As many others said, it is not recommended to do so but of course the decision is yours. You are free to do whatever you want with your money, it is OK to put all your saving into crypto as long as you are ready to accept the worst case. Otherwise, you may regret it so much.

[hermae]

Just take some of your investment and buy a crypto with it, Do not keep your crypto currency in exchange because many of the exchanges have faced the problem of storing it in the wallet. Download your personal wallet and move your coin into it. Consider buying a hardware purse because this is the safest.

I dont think transferring all your savings to cryptocurrency is a good idea. We know that it is very risky to do. But it is all up to you, it is your money, but you should bear in mind that cryptocurrency is very volatile, so I guess it is not a wise idea to do it. Maybe you can gain a lot but also there is this risk that you may lose a lot. So think about it very carefully.

[Tamilson]

As many others said, it is not recommended to do so but of course the decision is yours. You are free to do whatever you want with your money, it is OK to put all your saving into crypto as long as you are ready to accept the worst case. Otherwise, you may regret it so much.

Because in the end of the day he's the one who will decide for his investment because everyone here advice him not to but if he still do then he really have the courage to risk all his savings. I just hope I don't see him post here again and mocking how much how he loss.

Though to be honest, these days are the best to invest before the third quarter starts because bull will be back in the market.

[Jasell]

Though the decision is yours to make, I just hope you have made your mind now and noticed that almost all would say not to risk it all. As you have said, you are aware that if anything bad happens like the hacking issue, you have no guarantee that you can get your investment back. Good luck to you.

[goaldigger]

As per what i have seen on your current status, you are already on this forum for a long time and you are an experienced person enough to do this kind of decision. If you want to play safe on your investment and still not decided to put it all in bitcoin then try putting other on altcoins.

[Kriptex]

As many others said, it is not recommended to do so but of course the decision is yours. You are free to do whatever you want with your money, it is OK to put all your saving into crypto as long as you are ready to accept the worst case. Otherwise, you may regret it so much.

Because in the end of the day he's the one who will decide for his investment because everyone here advice him not to but if he still do then he really have the courage to risk all his savings. I just hope I don't see him post here again and mocking how much how he loss.

Though to be honest, these days are the best to invest before the third quarter starts because bull will be back in the market.

If you take extreme risk, you can retire very much earlied than a regular person, but you can also be in danger with crypto investments. Because you won't have fiat money savings in your accounts since you asked this in the thread.

[Marnihughes82]

I think with security layers of binance you should not be so worried about security. However, anything can happen. In general, high risk is a big profit

[Souldream]

I think with security layers of binance you should not be so worried about security. However, anything can happen. In general, high risk is a big profit

Yes, risk is already given here in Cryptocurrency though let say that security layers is already in a high secured but we shouldn't be feel comfortable with it, anything can be possibly be happen. So it is not advisable to transfer all your savings to cryptocurrencies even though it was profitable but it was also high riksy.

[crypmike]

No man! No way! The market now is so unstable! Follow risk-management
Actually, this is a nice point to enter the market but always remember about risks!
If you want to invest here, start with 33% of your finds, 33% I would like to recommend to invest in traditional markets and 33% leave to yourself and decide what to do with them  later

This is the safest way of investment

[siagh357]

Divide the 50,000 into 5 and put them on five strong exchange like kucoin,poloniex,okex,cryptopia and lakebtc. With this strategy if one or two exchanges got hacked or compromise you will still have something to lay on.

[anavir]

for me, i will not put all my savings in crypto.I would rather invest fifty percent of it and keep the other half.Just in case myinvest doesn't work good,i still have money left to be used.Not all of us are lucky in one type of a business so you still have money left to capitalized for another business

[mudasarali43]

Good information you have shared and the logic is also good because everyone wants to be safe and secure, Crypto exchanges are good and secure also because when you are using any exchange they some security relevant verifications if you do these verifications properly than you have no chances to stolen of you money because scammers have no chances to hack if you have proper verification for your mobile and pin code and tow factor verifications,