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Emperor of Man
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January 06, 2018, 12:59:30 PM |
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Absolutely not. Because: - It's generally not wise to buy a crypto which is bullish right now, or has been bullish for a while. - You must not put all your money on a single entity (yeah, egg and basket and all that).  - You must not invest any money which you can not lose on the market. So, invest only the money that doesn't kill you if it's gone!  |
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beachbummer
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January 06, 2018, 01:04:18 PM |
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Hi,
i convert to my salary into xrp and it store in ripple wallet every month for (i expect) one year. it is good or bad decision? i think XRP hit $100 in near future
This is a very very bad idea. You are putting all your eggs into one basket. Do not just focus on the upside but also consider the downside should XRP become worthless. The recent euphoria behind XRP may be misplaced because the banks are making use of RippleNet and XRP only plays a very small part in the transaction fees if it is not utilised as the token of exchange. |
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zarados
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January 06, 2018, 01:12:01 PM |
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Hi,
i convert to my salary into xrp and it store in ripple wallet every month for (i expect) one year. it is good or bad decision? i think XRP hit $100 in near future
how much do you allocate your salary? Why did you choose XRP? First of all, I want you to answer my question first. Because I think your idea is not so promising more profit. Maybe it's better if you set aside your salary in savings, then when the price is down, that's the right time to convert your money into cryptocurrency. If every week or month you always make conversions using your salary, that means you do not care about price fluctuations. Because you always buy, even at a peak price. |
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Stonesteel
Newbie
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Activity: 9
Merit: 0
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January 06, 2018, 01:55:13 PM |
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"Do not invest in something you can't afford to lose". The very basic to remember when investing in cryptocurrency. If you are planning to invest your salary in crypto, you should diversify. do not invest all of it in a single altcoin. At least leave some for your daily expenses. For example, 50% for your daily expenses, then 50% for crypto investment, then diversify that 50% on different altcoins, do not stick to one.
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hannahB4
Member
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Activity: 532
Merit: 13
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January 06, 2018, 02:04:30 PM |
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Do you just decided to store it or what really happened, on reading your subject I just couldn't figure out why you are thinking of this. To me if you have other source of income apart from this you can but if not please don't do it.
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Bybox
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January 06, 2018, 02:04:56 PM |
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Yep, it is a very good idea to invest in cryptocurrencies but try to diversify your investment and don't invest what you can't afford to lose. If you invest your salary in cryptocurrencies then you don't need money in real life right? So it should be safe
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siddartha1492
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January 06, 2018, 02:05:09 PM |
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I think it is a bad decision. Firstly because you are putting all your fiat earnings in crypto, which is not a good thing as fiat is still more stable than cryptos. Secondly, you are only investing in XRP. You should diversify your portfolio and certainly include Bitcoins, ETH and some other coins and tokens.
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beachbummer
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January 06, 2018, 02:06:37 PM |
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Hi,
i convert to my salary into xrp and it store in ripple wallet every month for (i expect) one year. it is good or bad decision? i think XRP hit $100 in near future
how much do you allocate your salary? Why did you choose XRP? First of all, I want you to answer my question first. Because I think your idea is not so promising more profit. Maybe it's better if you set aside your salary in savings, then when the price is down, that's the right time to convert your money into cryptocurrency. If every week or month you always make conversions using your salary, that means you do not care about price fluctuations. Because you always buy, even at a peak price. Buying at set time intervals without regard for price is actually a sound investment strategy called dollar cost averaging. https://www.cryptoinfomag.com/2018/01/06/taking-the-emotion-out-of-investing/ |
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wishman93
Newbie
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January 06, 2018, 02:07:14 PM |
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Will it be in USD?
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Ayiranorea
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Leading Crypto Sports Betting & Casino Platform
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January 06, 2018, 02:11:55 PM |
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There is not much risk in it, when the security features were enabled to make it more secure. Storing the salary in the crypto wallet is good, because for what we hold the user gets added profit with respect to time. The same earning can't be got, if we keep hold of the salary in the form of fiat.
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caeles
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January 06, 2018, 02:22:26 PM |
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Storing some of your salary in your cryptowallets is a good idea but storing all of your salary is a bad idea. I think that it is better for you to budget your salary so you will not lose anything. You still need to have money in your pocket and your piggy bank for emergencies. It is good that you invest to a certain coin if it will give you more earnings but think for your daily living. You need money for your daily life. Your life is daily not yearly so you really need to budget your money. Don't put all of your salary to cryptowallets, put some in your pocket and your piggy bank.
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RNGfight
Member
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Activity: 196
Merit: 10
Open and Transparent Science Powered By Blockchain
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January 06, 2018, 02:26:18 PM |
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Hi,
i convert to my salary into xrp and it store in ripple wallet every month for (i expect) one year. it is good or bad decision? i think XRP hit $100 in near future
I suggest you invest in some ICO instead of putting money in XRP. I think if you choose an ICO project investment every month, you will be rich next year |
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cryptotitan
Member
Offline
Activity: 210
Merit: 10
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January 06, 2018, 02:29:28 PM |
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Worst coin you will ever have,bankers are controlling its price it can go down to less than a dollar if they wanted too.
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kriticko29
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January 06, 2018, 03:22:39 PM |
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Well i think it is a good thing for you. Ripple or should I say XRP has a great future within this year. It will grow due to business partnerships that it engages on, nothing is impossible to happen and it might achieve your goal in no time.
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ReLieD
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January 06, 2018, 03:27:24 PM |
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Convert your whole salary is probably the worst option. You should always keep a backup of like real paper currency and who knows you might need it for emergency. Also cryptos are not something you can trust ! Who knows , the coin you invested your whole salary just died suddenly ! Buying trusted coins with it is suggested but not converting your whole salary.
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HoundRogerson
Member
Offline
Activity: 226
Merit: 10
🤖UBEX.COM 🤖
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January 06, 2018, 03:30:08 PM |
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If the money you invest is free, then this is a good idea, the main thing is that this was not the last money you need for life
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CryptoBaxing
Newbie
Offline
Activity: 70
Merit: 0
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January 06, 2018, 03:40:15 PM |
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Put what you can afford to lose, so for example
Salary - living costs - entertainment/holidays - other expenses = your monthly crypto invesement.
And I would suggest to chose 2-3 crypto currency which you will invest each months, don't forget to research before investing.
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Sevaev
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January 06, 2018, 03:52:52 PM |
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Hi,
i convert to my salary into xrp and it store in ripple wallet every month for (i expect) one year. it is good or bad decision? i think XRP hit $100 in near future
Well done, a good choice, but a ripple is unlikely to reach $ 100 with such a volume of coins. Leave some money for life, but how to live that? |
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hitrawal91
Full Member
Offline
Activity: 462
Merit: 101
BitcoinSN - The Real Bitcoin!!!
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January 06, 2018, 05:25:15 PM |
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Well its a good idea and you have chosen a altcoin like ripple which is growing day by day and in future it is expected to grow to $100 for sure but I would request you to play it with safer side or with a caution because you are planning to invest all your salary into this coin, but I will suggest you invest only half of your salary into this coin and remaining half of your salaary you either invest in other coin or put safely in your bank account because I dont you to put all your eggs in the same basket.
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Xtra_Coin
Member
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Activity: 140
Merit: 10
Blockchain Identity Verification
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January 06, 2018, 05:34:32 PM |
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I think this is a cool decision) You make a kind of contribution to which every month there is a payment, the only thing if the ripple is constantly growing and the amount on the purse is dripping all the same would better to buy this some amount right away. And yes - diversification of risks!) It is better if you buy a few coins.
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