Is it safe to invest all my savings in cryptocurrencies

[UnDerDoG81]

Am thinking of investing my savings instead keeping it in the bank,is cryptocurrency a wise choice?

This is the worst decision, that ever can be. Main principal in investments is always to diversify investments. It is better to invest proportionally in stock, real estate and of course hold some fiat.

To me, it depends on the level of investment, he can invest all his idle money into cryptocurrency, but should not invest in just one coin. Should invest in many different currencies, and should not rush to invest, should invest according to his own understanding

[coynedterm]

Am thinking of investing my savings instead keeping it in the bank,is cryptocurrency a wise choice?

I don't think it will be safe for you to keep all of your savings in the cryptocurrency , but still here I would like to suggest you that you can put a fraction of money into bitcoin and etherium because in present time value price of bitcoin as well as of the etherium is very low .
I means to say that take that amount of the risk , which is not an important for you , I mean that doesn't give impact to your daily life with that loss .
We can see in the past where many people sold Thier house and invested in cryptocurrency , but after the sudden drop in the price from 23k to 12k , he get into big tension because he was fully dependent over the earnings of the cryptocurrency , but in actual he lost his money much and he got a very poor life .
So take perfect descion to make investment a, perfect timing and perfc stretagy , otherwise you will not be able to make earnings , only you will face mostly loss .
So take descion yourself that what you want in future with the cryptocurrency investment  , whether you want to grow stepwise or you will try to make blind investment with hope that one day you will be millionaire .

[traktornut]

keeping your savings in cryptocurrency is not a reasonable solution.

[Rengga Jati]

I don't think so if we save our money in crypto. It is too risky man. In my opinion, diversifying our money is the most appropriate and smart ways. We must diversify how much for crypto investment, trading, and also how much money for saving in bank or making business. Here, we must make smart decision and second strategy if one of our efforts are collapsing.

[ungongbuotan]

It depends if you have idea and enough knowledge about cryptocurrency. If you know what you are doing and you know how cryptocurrency works and run  then I am sure you know how much risk it will be if you would do that. Investing all your money to cryptocurrency is not an ideal action but if you have enough knowledge and experience with cryptocurrency then go ahead.

[saint647]

It is very unsafe to go that route of putting all your eggs in one basket. Even the billionaires with billinof dollars in cryptocurrencies have a lot more in other off chain assets so be wise.

[boolog]

Am thinking of investing my savings instead keeping it in the bank,is cryptocurrency a wise choice?

Never invest more than you can afford to lose. I have already learned that here. Just for that reason i would never invest all my money in crypto. I wouldnt trust crypto that much.

[Ehrakeziah]

That's really not good idea,you shouldn't' put all of your saving in cryptocurrency. I would suggest you to put only even 25% of your saving in crypto,if you learned already a lot of strategies that can help you to be successful on every crypto activities.

[souleater1494]

If you want to invest to crypto so badly much better to invest a spare money not your savings because for sure you will cry later because crypto market is not stable

[CryptoPairFTX]

This is surely not a wise decision at all. As crypto user you should remember that crypto market is highly volatile and there is risk too so you should not invest all your savings here.

[trade2winnn]

I think now despite what is happening, you still need to head up to all things,and I would still most of the money invested in the crypt,and would distribute them in 10-20 tokens to ensure maximum profit and results, in General I can say that Crete is the future

[blckhawk]

Am thinking of investing my savings instead keeping it in the bank,is cryptocurrency a wise choice?

Unwise indeed, let me explain it. Well, giving up all your money for a certain thing you don't even have an assurance is really an unwise movr though, because the first thing is that you didn't even save enough money for your own, and for some stuff you might use such in emergency. Second thing, is that cryptocurrency has a possibility that it might collapse, so, as it collapsed may be the money you have invested might get disappear and you might not be able to get it back again. That sums all up.

[profitgenerator212]

If you know the market well and have a clear plan. That will work, but if you're new to this market and want to invest all that, you need to think carefully because every mistake will never be corrected.

[faithofb]

Generally speaking, it is not ideal to invest all your earning in one line of business it will be very good if you can diversify. Choose another line of business and invest.whenever one line of business have issue, the other will still be favourable.

[boyjack]

Of course the price of bitcoin will reverse, I think the current price fluctuation only the correction of markets, when the trend change then price will go up, big investors are waiting to enter in the market when they get the best time, I think this year end bitcoin price will go up and by next year I am expecting above $20k, if bitcoin price will go up sure all other crypto currency will be follow it,the changes in bitcoin price will be good for other crypto currency ts bitcoin, it flunctuates. The price goes down and comes back up and most definitely it will grow. I have a high expectation in Bitcoin because lots of people are getting into it. The price won't stay fallen for long, it will recover and it's going to be a good rise.

[metalglowd]

Am thinking of investing my savings instead keeping it in the bank,is cryptocurrency a wise choice?

right now, i think if you saved it into USDT only or others FIAT it will be okay, safe enough for these one, but if you make it into BTC, ETH or others altcoins it will become highrisk and especially if the money will be used more often later

[BTCHeadstone]

Probably you are a newbie in crypto. Well making decision of investing all savings does not make any sense at all. I would suggest you to be get acknowledged about every detail of crypto before making investment.

[OneyZ]

There is no investment to get higher reward without any risk. Personally I think it’s a good idea to invest half of your money in cryptocurrency. Research more by yourself without taking more free advice.

[martinpppp38]

I think it's not safe to invest all your capital in the crypto (or any other market for that matter). It can pay a lot but the risk of losing everything is also very high (especially in a market like this where right now it's far west).

I would advise instead to respect the essential rule (invest only what you can prepare to lose), and diversify a minimum (and before investing a lot I would wait until the laws on regulation are a little more advanced, for the moment it's the unknown)

[OneyZ]

I don’t think it’ll be a wise idea to invest all of your money in cryptomarket. Research more about it, gain more knowledge about cryptocurrency. As the market is not stable, better not to invest all.