What should I convert my money into?

[maydna]

If I were in your position, of course I also would use my assets in BTC, I would not use 50:50 but I would use 100% of my money for Bitcoin. I also have read a topic that says there will be a global crisis in the future which will cause the US Dollar to collapse. So to anticipate this, it is better for you to make your assets in BTC.

I think using 100% of your money for bitcoin will not be good for you if you still using fiat to buy something in your real life. But if that money is free from anything, then yes, you can use all of your money to buy bitcoin while you still have other money to cover your daily needs. A global crisis can happen anytime, and that will make people panic if that is happening, and it will make a demonstration everywhere. But we don't know if, at that time, bitcoin will come out for a new solution to solve the global crisis or not because that will need approvement from all countries to use bitcoin as the new payment system.

[barabarian1]

if you want your money to increase, I recommend investing in bitcoin. because many predict the value of bitcoin will continue to increase in the future. but of course we have to wait patiently. but you also have to be prepared to accept the risk of loss when the price of bitcoin falls. if you are afraid you can divide your money into two parts $ 500 for bitcoin investments and the rest for gold investments. the value of gold always tends to increase and rarely decreases. but of course the increase in bitcoin is higher in value than gold.

[Eugenar]

If I were in your position, of course I also would use my assets in BTC, I would not use 50:50 but I would use 100% of my money for Bitcoin. I also have read a topic that says there will be a global crisis in the future which will cause the US Dollar to collapse. So to anticipate this, it is better for you to make your assets in BTC.

If the global crisis concerning USD is true, it is in fact good for us to hodl much of the BTC we have, as if ever worse case happens, we can have a currency that we can still use universally. In this case, there will be no reason to convert if you already have bitcoin. But if you have allot of fiats, it's better to save even a few at each time we have our salary, as we should be prepared no matter what future awaits us.

[ololajulo]

I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. .

I dont know the source of this information I could have followed it with more questions, It's large population with a very wide diversity.I can say some part of the country have an average of 3 bank account for adults and they got bank registration early. This section has higher literacy level and better user of internet which I believe is responsible for the high purchase of bitcoin that is mentioned many articles, however, we still have some cities in some part of the countries that share the same literacy and internet use features. This doesnt look like a factor to judge your bitcoin purchase, more also your decision should consider all the risk with holding any cryptocurrency.

[tenakha]

I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.

As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.

I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear terrorist-money-laundering scum client.

I have reasons to believe Russia will finally turn to its African sibling in several years.

I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.

If you think that the Russian ruble will fall in the future, it may be a good idea to diversify the investment by half. But, knowing about Forex would have made your work easier. Holding $500 will not provide you what you expect, but with Forex it can be exactly different. And in crypto trade, you can invest money not only to BTC but also to altcoins.

[BitHodler]

If the global crisis concerning USD is true, it is in fact good for us to hodl much of the BTC we have, as if ever worse case happens, we can have a currency that we can still use universally.

There is no such a thing as global USD crisis.... people who are claiming there is a global USD crisis looming are spreading false information. The USD has actually been appreciating against most other fiat currencies.

In case there is a recession, the USD will be the most hoarded asset in the world because that's seen more as a safe haven than even gold, because in times of uncertainty, fixed value units is what pay your bills, not a shiny rock.

Bitcoin will not get to benefit from a crisis either, because it's a speculative asset.... no way anyone outside the crypto space will pump their dollars into Bitcoin when shit hits the fan. Not a single chance.

[rose9696]

Buying bitcoin is also a good idea but make sure you hold it for a long time. because I realize that people who intend to buy bitcoin often rely on it a lot, hoping that it can bring big profits in the shortest time.
That would be the most misleading mindset and you need to set up a discipline board when investing long term to make sure your portfolio is on the right track.

[Murat]

I think Bitcoin is the best option for your purpose, I suggest you buy Bitcoin 75% of your money and 25% of your local money you have to hold it. If you manage properly then you may gain when the Bitcoin price will rise, there is a lot of possibilities to make a profit by investing here, not only that but also even you can make your money double if you are lucky enough, But this is not the proper time to buy Bitcoin because the price is very uncertain nowadays, you have to wait for a couple of days and then make a good deal, Except Bitcoin, You can also buy Ethereum but I believe Bitcoin is totally safe and highly potential.

[SummerBliss]

Buying bitcoin is also a good idea but make sure you hold it for a long time. because I realize that people who intend to buy bitcoin often rely on it a lot, hoping that it can bring big profits in the shortest time.
That would be the most misleading mindset and you need to set up a discipline board when investing long term to make sure your portfolio is on the right track.

If your only motive is to make profit then why to insert the condition of holding bitcoins for long?
You sole concentration should be on the profit element. Just set your target and if bitcoin reach that target in single day then sell it and enjoy! No fun in holding it for long and see your profits dooming again.

[Meowth05]

I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.

This is a good start.
Now, you probably know that Bitcoin (and altcoins) prices variation/volatility is big. This makes Bitcoin an interesting investment if you have money you afford to lose, but not "safe" as "savings account".
Bitcoin price, on long term, should grow a lot. But there are big falls too and there's a risk that in the moment you need your money the price is lower than when you bought.
Of course, you can be lucky and get rich by buying Bitcoin and catching the best moment to sell. You or your kids..

Edit: I would probably buy Euro, Bitcoin and maybe gold too (although I'm not sure it makes sense for 2-400$)

I agree that Bitcoin the the best place to your money if you don't planning to use it in any way it is better to convert in into Bitcoin and Hold thus you could gain a profit without doing nothing. Bitcoin will surely give a high return compared to USD because of volatility of Bitcoin. Yes it is risky but not the same as risk of investing in other altcoins besides the more risk you take the more profit you'll have.

[ice18]

When the time comes and I feel the same with you OP the possible devaluation of our currency in our country I will not hesitate to put all my money in bitcoin all in I really believe that in the future digital currency like bitcoin will be the our hope its decentralized and no one can control it its must be very valuable asset in the coming years Im sure.  

[Taskford]

Why questioning us on why would you convert your money to anything? Since you can answer it by your self maybe find a reliable things that can convince  you to convert in crypto since if you are a newbie investor for sure you will face those scams since it's so rampant here and you should choose on which way you are going thru and I give you a hint on that go to tradings and learn the basics by that you can earn decently with extra precaution on your moves on trade wars.

[Quidat]

I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.

This is a good start.
Now, you probably know that Bitcoin (and altcoins) prices variation/volatility is big. This makes Bitcoin an interesting investment if you have money you afford to lose, but not "safe" as "savings account".
Bitcoin price, on long term, should grow a lot. But there are big falls too and there's a risk that in the moment you need your money the price is lower than when you bought.
Of course, you can be lucky and get rich by buying Bitcoin and catching the best moment to sell. You or your kids..

Edit: I would probably buy Euro, Bitcoin and maybe gold too (although I'm not sure it makes sense for 2-400$)

People should really think off this way rather than believing that they would be rich when they do go all in with Bitcoin or
any other crypto.

Usually people do have this kind of mindset which its a result for those who do directly engage or involved without any proper research
and verification on what these things is all about.

I wont risk up my entire life savings on Bitcoin.Yes, we know the potential but nothing beats when you do save up money on traditional storages like banks.

[coin-investor]

I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.

As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.

I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear terrorist-money-laundering scum client.

I have reasons to believe Russia will finally turn to its African sibling in several years.

I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.

If that $1k in local currency (Russian ruble) is for investment and not going to be a part of your emergency needs in the future I hope you have one, then convert it all to Cryptocurrency I highly recommend that you only pick Bitcoin ans Ethereum not only for maximum profit but also for safety of your investment, these two coins have halving coming in, but is the $1000 is such a small investment I don't know the condition in Russia but if it is enough for you to make a profit and set up a local business when you withdraw your profit.

[ice098]

Buying bitcoin is also a good idea but make sure you hold it for a long time. because I realize that people who intend to buy bitcoin often rely on it a lot, hoping that it can bring big profits in the shortest time.
That would be the most misleading mindset and you need to set up a discipline board when investing long term to make sure your portfolio is on the right track.

You need to set discipline from each investment strategy that you'll going to use inside this market. People who are being mislead by the mentality of quick benefits often suffered bigger loses, if you put the right mindset you will going to open the wider opportunities for you investment. Always make sure that you are aware with every possibilities including the risk that inside this industry.

Yes indeed, invest only the amount of you can afford to lose, convert your money in alts, so that you may have different options but be careful where you will be able put your money, convert it to the top coins so that you dont have any regrets then make it as a long term investment.

[TelolettOm]

When the time comes and I feel the same with you OP the possible devaluation of our currency in our country I will not hesitate to put all my money in bitcoin all in I really believe that in the future digital currency like bitcoin will be the our hope its decentralized and no one can control it its must be very valuable asset in the coming years Im sure.   

The development of bitcoin in the future although it is quite my strategy is actually a bit risky with the political interference that can play around with the price of bitcoin. It's been almost 2 years that there are quite a lot of issues from politics that make the bitcoin market experience a lot of ups and downs. Last this month China made sentiments that made bitcoin prices rise

[Maslate]

When the time comes and I feel the same with you OP the possible devaluation of our currency in our country I will not hesitate to put all my money in bitcoin all in I really believe that in the future digital currency like bitcoin will be the our hope its decentralized and no one can control it its must be very valuable asset in the coming years Im sure.   

The development of bitcoin in the future although it is quite my strategy is actually a bit risky with the political interference that can play around with the price of bitcoin. It's been almost 2 years that there are quite a lot of issues from politics that make the bitcoin market experience a lot of ups and downs. Last this month China made sentiments that made bitcoin prices rise

Bitcoin has all its huge potentials to become more expensive in the future but i know how risky it is putting all your eggs in just a single investment. I prefer to invest in btc and in gold too. Gold has a sure profit and its value will increase more in the years to follow. So i will definitely put my money on these two profitable investments.

[Webetcoins]

When the time comes and I feel the same with you OP the possible devaluation of our currency in our country I will not hesitate to put all my money in bitcoin all in I really believe that in the future digital currency like bitcoin will be the our hope its decentralized and no one can control it its must be very valuable asset in the coming years Im sure.   

The development of bitcoin in the future although it is quite my strategy is actually a bit risky with the political interference that can play around with the price of bitcoin. It's been almost 2 years that there are quite a lot of issues from politics that make the bitcoin market experience a lot of ups and downs. Last this month China made sentiments that made bitcoin prices rise

There is no reason to exhaust yourself with the stuff that does not even exist or has no roots at all. No doubt that political movements affect bitcoin, sometimes in a good way ,other times in the other way. But all these games never succeeded in killing bitcoin and you know what, they never will. Bitcoin is going to stay wit us forever. Just focus on its future and invest as much as you can at present.

[yulionoo]

in my opinion it is better to save money in the form of bitcoin because if we save fiat money it will not provide benefits and also in the future this fiat money will definitely experience inflation. so that I prefer saving bitcoin to fiat money. in addition to bitcoin investment tools can also be used for trading commodities. so we can benefit from bitcoin trading. but we also have to be ready when bitcoin prices go down. but I am sure the price of bitcoin in the future will rise again.

[perla]

If me, i will convert it to bitcoin. I mean if convert to fiat, it will almost same and fiat not really much volatile. It is controlled by Bank and for investment, we look for higher profit. But as long you understand the risk, so you prepare for anything like lose in investment. But i believe bitcoin will rise in future.

if we didnt want to convert on fiat, we could convert it into other investment portofolio such as gold, property or anything else.saving fiat only give security, but it didnt give us good return from its value.if we still save it in crypto market, we could diversify our profits into good altcoin such as eth, ripple , binance and many other.we should not worry with this coins, as major altcoin these coins have good performance in market.

Gold can be option, because Gold's price is tend to always increased. But to make investment in gold it is better to use very high capital. Because time to wait will worth if we can get high profit from it. If medium investment, still bitcoin is best. Although risk is almost same with profit, bitcoin still be best option in digital investment so far.