Does engaging with bitcoins put you at risk?

[idham29]

Yes! Dealing with Bitcoin and all its related investment opportunity will put you in risk but I must tell you that the risk is worth taking since the benefit at the end of the day outweigh its consequences at the end of the day.

I still remember a few months ago when bitcoin prices dropped, there were many opinions from economists who suggested selling bitcoin, because according to them bitcoin is like a bubble that can explode and become worthless.
Apparently what happened was the opposite, instead of being destroyed it turned out that the price of bitcoin actually rose high and now has exceeded USD 10,000. Observing what is happening is a risk caused by oneself that is easily panic, emotional and the analysis is not correct so they suffer losses.

[lightningmelo]

There are a number of risks you're taking when you buy bitcoin:

Privacy risk:

Being in a public bitcoin forum, or buying BTC on an exchange, inherently makes a lot of people aware you own bitcoin.

This can attract a lot of bad attention. You can get swatted, robbed, or kidnapped.

Volatility risk:

Holding a very volatile asset puts you at risk if you ever need to liquidate the money.

Even if you don't think you'll ever need to sell your bitcoin, unexpected IRL situations can lead you to be forced to do it.

If this coincides with a market downturn, you are at a significant risk of losing money.

Political risk:

If your government knows you own bitcoin (they probably do, unless you're extremely careful), and they decide to outlaw bitcoin, you can be at risk.

Even if bitcoin is unconfiscatable, the government can easily arrest you, or take your house/cars.

Hacking risk:

Even if you have a strong multisig solution for storing your bitcoin, you can get hacked by extremely complex supply chain attacks.

If you have a simpler key storage solution (e.g. single seed), chances are even higher this happens.


TL;DR: Being your own bank takes a lot of responsibility. Chances are none of the above are going to happen, but you are always at risk.

[kissme09]

In my life, I always struggle to develop and succeed. In investing, there are still risks, and I accept the risk, Bitcoin has its risks, and I accept that. I invest in Bitcoin and Crypto because these are risky investments but bring big profits. When you become a venture capitalist, you should take risks and be willing to lose money at any time.

[Prettyme]

We, as physically and intellectually healthy individuals, strive and survive to achieve our dreams, establish our roles in the society and fulfill our needs and wants. But in order to do this, we are also required to be financially healthy. The lingering fact is that money is not achievable as a single candy you can buy in the store. Sometimes, people risk their lives and reputation just to get a handful. Bitcoins are not officially a currency that you can just see in a certain country, that are being utilized and used. So, is dealing with bitcoins and other things related to it also puts us in a risky gamble?

Engaging with bitcoin need bravery because you are taking risk you don't know if you win or not. Many people got scammed and many people got a lot of profit. So in taking this risk which is engaging with bitcoin you need also to think not that twice by many times to fully evaluate if that site is good to earn bitcoin.

[DAVETUN]

All forms of investment involve a form of  risk, No risk No gain, Engaging in Bitcoin has a level of risk, but worth the risk, as it is not a bubble,ponzi scheme, that can colapse in a  flash, Bitcoin gives a high level of return  compare to all other form of investment.

[bitzizzix]

Bitcoin is the best solution to change the economy individually and can change someone's life for the better, but all of that there are processes and risks faced and even losses that can be obtained.
all will be realized if you want to try and not give up easily for profit and learn from mistakes will produce good results, and the risk will be small if you go through the process and learn well and correctly how to invest or whatever it is.

[thisappointed]

Yes! Dealing with Bitcoin and all its related investment opportunity will put you in risk but I must tell you that the risk is worth taking since the benefit at the end of the day outweigh its consequences at the end of the day.

before we dive into the world of bitcoin. of course we also know that bitcoin is quite risky. so before we dive into the world of bitcoin, we certainly must be able to bear whatever risks will occur. so we have to be sure whatever risks we have to be optimistic about going forward.

There are risk everywhere, also in bitcoin and other cryptocurrency, if there are no risks then there will be also no success. This risks are the ones that makes us aware and honed our decision makings, so that we could avoid losses as much as possible, the thing here is, not all of the people are brave enough to engage on something if they knew there are risks, doubts are going to pop up on their head and will just give up.

But it doesn't mean that if you take the risk, you are going to have a great result all of the time, sometimes you might also experience some disappointments but it's okay, it the part of growing.

[tungaqhd]

All forms of investment involve a form of  risk, No risk No gain, Engaging in Bitcoin has a level of risk, but worth the risk, as it is not a bubble,ponzi scheme, that can colapse in a  flash, Bitcoin gives a high level of return  compare to all other form of investment.

Indeed, the concept of investment is so obvious, we put money into something when we analyze and feel it will be better in the future, and emotions are our emotions, analysis is our knowledge, whether this success will be confirmed or not, which we cannot know, a lot of outside factors can influence, and we can understand that investment is always risky, a bet in it. Bitcoin is also an investment with a lot of risk, even very risky when the government is not involved and does not set limits here, pumping and dumping is a daily dish but this is also an advantage for creating infinite income

[Vishnu.Reang]

All forms of investment involve a form of  risk, No risk No gain, Engaging in Bitcoin has a level of risk, but worth the risk, as it is not a bubble,ponzi scheme, that can colapse in a  flash, Bitcoin gives a high level of return  compare to all other form of investment.

The risk involved with Bitcoin is still within tolerable limits. But some of the users go one step further and invest their savings in ICOs. There can be no investment more riskier than this, given the fact that more than 95% of the ICOs end up as failures. For now, I am sticking with Bitcoins. None of the other cryptocurrencies seems to have a long-term future.

[ChrisPop]

You've got to understand that you are always at risk. People tend to think that if they have a salary and some savings in fiat money in the bank they are not "AT RISK". But.. what if they get fired? Also is it wise to just keep the money in the bank when the inflation is 2-6%/year ( depending on the country you reside in)? So in 10-20 years with the current worldwide economic situation you will lose even 50% of your purchase power. Isn't it wiser to invest your money into a deflationary, not government controlled currency aka Bitcoin? - I can't give you the answer to this question so you will have to decide for yourself 

[Shadidalam1111]

Bitcoin is not an exception. All one need to do is to invest wisely and avoid falling into the hands of scenery and dangerous hyip/ponzi

[silversurfer1958]

investment is always risky despite the news that Bitcoin's value will always grow year by year. because we are also affected by a lot of bad news or influenced by traders, which makes our plans change.
but anyway, we should still try it because I see that the market is still hungry for bitcoin to rise, the expectation will come with action. I still believe the value of Bitcoin will soar in the coming years.

[HatakeKakashi]

Every investment that you put your money there is no hundred percent that they return or have a good profit because the worst happen to your money possible to gone or become less if you put your money in the wrong investment. Bitcoin is good but they still have risk about  your money so for the people who are scared in investing bitcoin is not for you unless you are ready to lose.

[hahay]

I think it depends on whether or not the cryptocurrency is legal in your country, if in our country there is no prohibition on using bitcoin or cryptocurrency then it won't be as risky as you worry. So, even though the use of bitcoin is only done in online transactions, our involvement will not be a feared problem, but indeed there will always be a concern for us over investment and other things, and it is only a risk that will at least be faced.

[Shadidalam1111]

It doesnt. Engaging with bitcoins put you at risk is not true. In fact there are many people who uses bitcoin became rich. Not just rich, super rich. They invest and when they invest, they think twice. They are wiser especially when it comes to fighting scammers and hackers. They must be wiser so that their money wont be hacked by hackers. If you use bitcoin, there no need to pay anything. You just need to post and you can make money in bitcoin. You just need patience.

[Zemomtum]

Our daily going out and coming back is also a risk. You cannot determine what will happen on the way so it is to any business entity in which Bitcoin is not an exception. We should be able to analyze the risk involved and manage it appropriately.

[Polar91]

All forms of investment involve a form of  risk, No risk No gain, Engaging in Bitcoin has a level of risk, but worth the risk, as it is not a bubble,ponzi scheme, that can colapse in a  flash, Bitcoin gives a high level of return  compare to all other form of investment.

The risk involved with Bitcoin is still within tolerable limits. But some of the users go one step further and invest their savings in ICOs. There can be no investment more riskier than this, given the fact that more than 95% of the ICOs end up as failures. For now, I am sticking with Bitcoins. None of the other cryptocurrencies seems to have a long-term future.

Altcoins have future too, if you will open your eyes. We can't deny the fact that each altcoins has their owrn usability, features, and etc. Although we see that Bitcoin is still inferior in this field, we shouln't neglect the fact that it's not the only coin in cryptocurrency and every altcoins has also potential to grow just like Bitcoin did. Crypto mass adoption will happen if we'll embrace this fact.

[Darklinkz]

Technically, there are countries that will potentially put you at risk when they found out you are trading bitcoin or you own them. In my country, some  of my bank account is in potential risk because if they found out then they will close of my account and I'm not able to cash-out using their service again. The worst is in other countries that you could be jailed using bitcoins. And another risk is losing all your wealth if only ever you became hopeless of btc's price from its all time high that you bought and sold all of it.

[virasisog]

Bitcoin did not harmed me in the past , and it still does not now. I did not invest or put any money from my wallet.
yes i have been scam i lost several times in my trades but its all from my earnings from the crypto related projects that i joined from the past.

[Greed Dev]

There are many types of people in the world, some of them are afraid of risks, the rest are not considered risks as challenges to overcome. The bigger the risk, the higher the profit and I think the risk doesn't just stop at cryptocurrencies, it is present in many other businesses or in your whole life, if you invest in real estate or stocks. there is a risk there, if you go out and drive your own car is also a risk.

As I see it, Bitcoin has a bright future, you can make a profit from it if you know how to manage risk, track research on it and you will have a solid financial future.