Transfer My Entire Savings to Cryptocurrencies?

[tester4206]

I wonder how much he put in the crypto currency and how much his loss and I hope he does not lose too much money or he cuts losses when the price is still high or just starting to fall

[ghost14k]

Transfering all your life savings to cryptocurrency now won't be the best practice at this stage. No one knows the state of the market so to be save we need to diversify in order not to be taken by surprise. I suggest you split your savings and put some but not all. That way watch and wait for a time to see what happens before putting all of them to cryptocurrency.

[Glorypaasa]

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 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.

[kevpantof]

to do all your funds and you store them in cryptocurrency is very good and can be safer than you keep it in the bank, in fact you will also be able to get a lot of profit when the price of cryptocurrency rises.

I do not think that is good enough. You can run bankrupt if you do that. There is uncertainty in the crypto market and you can loose money if the price fell. It is however advised by the economist to have a diverse portfolio and you can minimize risk by holding a diverse portfolio. You should also try the traditional investment tools by investing in property and bonds.

[adaseb]

This thread needs to be locked already. The OP only posted 5 times in this thread. First time back in Dec and last post was in January 2018. He hasn't been back ever since but it keeps getting bumped up every few days without people reading the prior posts.

Its also irrelevent because transfering all your money to Crypto back in Dec was a very different risk than it is today where most coins are 90% losses and BTC is at a 65% loss since ATH.

[KingdomHearts]

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’re going to put $50,000 in cryptocurrency I will advise you better not put it in exchanger but a real wallet that is very secured , maybe the Blockchain wallet, cause it’s very securer and has 2 factor authentication to prevent unauthorized access to your funds, unlike some other wallets that doesn’t have it.

Exchanges are always the main target of hackers that’s why I said you should not go for it. And by the way, have you taken out time to study about Bitcoin and know how it works? Cause the price fluctuates.

[Traslavin]

Even bitcoin is almost trusted in cryptocurrency world there are still a big risk with it because crypto currency is so volatle and we dont know when to dump of when to pump. I suggest you to divide you savings to 3 to 5 parts before investing.

This was very unwisely decision that a trader could made. Yes even though we trusted that investing in Cryptocurrency especially in bitcoin is profitable but the risks is still there and cannot be avoided so better be think wisely and make a wise decision before you end up feel lost for what you've been invested.

[keanne_isaac]

Before doing this decision better to study first how crypto market is and try to invest some portion of your savings and once you get familiarize then that's the time to think again  if you pur all your saving or not in crypto as this form of investment is very risky and volatile you may end up losing you savings if tou Don't know how to properly choose good coins to invest.

[connexus]

I think that is not a good idea you should atleast save something that you will be needing in case of emergency. You can try as well other options just like working in the campaigns and other online jobs that do pay crypto currency because if you invest your savings you are not sure how secured your investments because it might go down too or you loose everything. So better think first before you do that.

[Surge_Dev]

Aren't you afraid of losing everything? I think that it is not very wise, we can't know for sure whether it will rise or fall down in price, i think it is not good for the trader to invest in everything as it is too risky

[GeniusAko]

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.

Do you think that it is a good decision? You can't even ensure if you can grow your investment. Do not just put all of your saving in cryptocurrency world because there is a high chance that you lose it. There are risks that you are going to face if you will make investment.

[stefany101]

You can transfer your all funds to cryptocurrencies but put it in your mind that it requires risks to be handle. You are the one who managed your accounts so you are also the one that can take profits and regrets. Before you invest , make sure that the altcoin/s you are going to invest are having potential to go with bull market.

[ernoo]

Sure, in the cryptocurrency place, no mistakes are allowed. Also, the volatility is much higher than stocks, which means more potential earnings, but also losses. Right not, it is not a bad time to get some more crypto I think.

[bucksman5233]

This will be the worst idea you are ever going to make. Cryptocurrency investment is a high risk option so please invest wisely.

[givinggirl]

You may already know that there is higher risk in Crypto trading ... But the risk is worth taking when you do it wisely. Why not try out a few altcoins, and try trading with 20% profit perhaps weekly. But do not soak all your money into on altcoin because you may not like the result. If you invest in 3-4 altcoin you have thoroughly studied, if 3 don't bring you profit, 1 or two may bring profit that could cover for all other.

[Marcel666]

That would be an ill-advised decision.
I recommend you only trade with what you can spare, regardless of how profitable (potentially) the project might be.
Nothing is certain in this sphere.

[Morgann]

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.

Transferring your entire saving to cryptocurrency is very risky because the market is volatile and you will never know when you are getting profit so just invest a small amount and save something for your self.

[NorihiroName]

No, don't do that. It is too risky, if crypto will collapse you'll be left with nothing left, I don't thing that you desire that thing.

[Clark05]

Transfer your money to cryptocurrency is good. But better if you invest only the extra money because cryptocurrency is risky investment and possible your money gone if the altcoins that you buy dump or gone. But once the altcoins you buy increase you can get more profit.

[Portia12]

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.

The best thing that you can do is starting your own business from your savings because focusing into cryptocurrency is very risky due to the market prices which is unpredictable and you will never determine if you are going to earn profit or not.