What should I convert my money into?

[Digitalasset123]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

[1714170345]

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[wozzek23]

I would definitely advice against investing in any of the altcoins, because they are in a very bad state right now. You can go ahead and invest the entire amount in Bitcoin, as the block reward halving is approaching and it makes much more sense to invest in that asset. But investing in any of the altcoins (including ETH, LTC, XRP.etc) looks very risky right now.

Why do you think that it is not right to invest in the altcoin in this there bad state, I think it all depend on the type of altcoin that we are investing it, and the bad state we are talking about is classified into different category, there are some that their bad state is just because of the bear market while some is because of the bad projects that they have.

The ones that have bad state because of bad projects are the ones that we really need to run away from, because those type of coins may actually never grow in life again which will be pointless to be putting money in that project, but for projects that are in bad state because of bear market, I think that this is the right time for us to buy the coins now that they have all reached their last bottom for a better profit.

[huige007]

Bitcoin is always a really good option, you can make a lot of profits from it when the price starts to go up. There are lots of other crypto assets/currency that you can invest your money into depending on what you want. If you're looking for an investment there will be no other option that is better than bitcoin. But if you need a stable coin you can go for the Gemini Dollar or PAX.

With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.

There is no point in converting money into any thing else if no profits are planned out from this action. Investing money has just one aim, making good amounts of money with ease. Instead of investing into stable coins, he should keep the money and save himself the trouble of this conversion. But if he wishes to become rich in short period of time, he should invest in bitcoin.

[sapnu]

Bitcoin is always a really good option, you can make a lot of profits from it when the price starts to go up. There are lots of other crypto assets/currency that you can invest your money into depending on what you want. If you're looking for an investment there will be no other option that is better than bitcoin. But if you need a stable coin you can go for the Gemini Dollar or PAX.

With stable coins you're not going to make profits, your savings will remain the same for as long as you hold it. But as for volatile coins you're going to be making a profit and even more when there is a bull run.

There is no point in converting money into any thing else if no profits are planned out from this action. Investing money has just one aim, making good amounts of money with ease. Instead of investing into stable coins, he should keep the money and save himself the trouble of this conversion. But if he wishes to become rich in short period of time, he should invest in bitcoin.

Choose some techniques here because there are actually lots of ways for you to earn different crypto. But if you are buying some I prefer you that you should study well because there are two types of ways for you when you buy a token, there is long term hold in which you are choosing some coin that is in a downfall and selling it for a long time period when it actually rises up again. But there is also short term hold in which you are buying and selling it for a short period of time. The difference is that in long term holding you don't know if that token you bought is gonna rise up again you just need to trust that particular token, because we can't predict the price since cryptocurrency is volatile in terms of value. While the short term holding you can earn but noot that big.

[Shasha80]

It's always been a debate about the best way to secure our money to survive the global crisis. I don't think so
a good decision if we put all our money in bitcoin or altcoins, because as we know the price of cryptocurrency
very volatile. So my advice for split the money you have, like save $ 300 in bitcoin. Then $ 200 buy gold,
and the remaining $ 500 save in stable currency such as dollars or euro.In this way it will be your best way for
your financial in the future.

[Sithara007]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

LOL.. this is perhaps the worst advice you can give to anyone... Ruble has lost more than half of its value against the USD over the past five years and I would regard it as one of the weakest fiat currencies in the world right now. Before the crude oil prices crashed, the exchange range used to be around 1 USD = 30 RUR. Now it is like 1 USD = 70 RUR.

[EdvinZ]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

LOL.. this is perhaps the worst advice you can give to anyone... Ruble has lost more than half of its value against the USD over the past five years and I would regard it as one of the weakest fiat currencies in the world right now. Before the crude oil prices crashed, the exchange range used to be around 1 USD = 30 RUR. Now it is like 1 USD = 70 RUR.

The ruble has really depreciated a lot over the last 20 years. There was a time when $1 was given 7 rubles. Now this amount is 10 times more. Here is so in fact in 10 times Americans have become richer Russians. Of course, it is better to keep money in reserve currencies, reliable stocks, you can buy highly capitalized cryptocurrencies.

[k@suy]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding.

[AjithBtc]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding.

Converting the money into bitcoin and other cryptocurrencies that provides with the assurance of profiting is good than holding in the form of local currency. Here one thing that need to be understood well before investing is the time period he can keep hold in the form of cryptocurrency, because when he has planned for a withdrawal in the form of fiat if the market is down it'll be a loss for him. Investing without any time constraints seems to be good for Cryptocurrency investors.

[STT]

Only gold is money by some peoples reckoning, you could do worse then that but the problem is its less of a short term exchangeable asset then.   So for such small amounts as 1000 you have consider if you will use it in the next year, or 5 or decade.     For a pension, gold is very valid imo and also for saving up to buy a house I think also.

Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.

The Russian bank has been accumulating gold but I wouldn't especially trust any central bank to defend capitalism especially.   Its best to diversify, the biggest reason to hold onto your national currency is as contribution to future taxes, that is the main backing to most FIAT that it is required as payment.
   Other things people may not have mentioned is a food store, any food which can last a long time and may rise in price alot.   Maybe types of oils used to cook, these can store well and its a classic venture to store wines over many years and often they improve with age but that takes some expertise and of course space, the right temperature, etc.

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

Russia is reliant on oil, they need more people and varied businesses also.   The country needs to develop basically, thats its main problem for prosperity.   Investment would occur more often but I dont see Russia as an open country personally and I do hold investments there so I hope it improves but people worry which means Russia pays a premium and its harder going.

[NewRanger]

I will advice you to leave it in your local currency (ruble), because the volatility of cryptocurrency might make you loose the valuable sum of your money.

No wrong move, there is a lot of coin to choose, convert your money in bitcoin because it will be a good investment among all , you may hodl it for a while a wait for it to pump, you may also try to invest in altcoin such as ETH, LTC, XRP it is your choice how much you will spend on them, and it all depends on your money you are holding.

if we loss in crypto market it means we have no enough skills to invest in this market. Every day we see good chance to earn profit from market volatility, and we have more than 1000 coins in crypto market ,so we should not confuse when we want to pick one of them.  And majors coins mentioned above be our priority , so we will get more certainity cause these coins easy to recover when market down.

[Triffin]

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 are knowledgeable in terms of different currencies, it is better if you convert or make some investment in using it because it also affects the trade market. There is a possibility that gives you profit sooner or later. But if you think that was not enough for you to make an investment and to have an extra earning better to use the digital currency or the cryptocurrency. There are a lot of coins that may help you to have a profitable income, but make sure you are in the unique path be careful on the where you invest you must take a research about the coins and the graph of it to about the loss of your assets and regret in the end.

I would suggest him to go for bitcoin. We are moving towards an era of digital currencies. Later, if not sooner, bitcoin will be legalized by all governments and raise it value to unimaginable marks. Before that time arrives, it would be smart to invest in bitcoin and hold it for better future. Whether someone believes or not but this is the biggest fact, future belongs to these coins and survival without them is hard indeed.

[Assface16678]

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.

By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto  even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.

[makolz26]

By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto  even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.

For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.

[agentx44]

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.

You have a lot of options from altcoins to bitcoin but you should not make a move unless you analzed the market value of those properly. There's no certainty your money will grow right away but you can make sure that you will sooner get some good news if you've picked the right coin. You can also put it in the bank for a while so that it will grow surely but not that much and if you are not going to be satisfied with that, you should pick crypto as an investment to get very high profits but it'll just take up a lot of time first.

[iv4n]

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You have a lot of options from altcoins to bitcoin but you should not make a move unless you analzed the market value of those properly. There's no certainty your money will grow right away but you can make sure that you will sooner get some good news if you've picked the right coin. You can also put it in the bank for a while so that it will grow surely but not that much and if you are not going to be satisfied with that, you should pick crypto as an investment to get very high profits but it'll just take up a lot of time first.

Many people say the same, you need to analyze the market value? But what that means? You can open coinmarketcap for example and there you can see the current value of bitcoin or any other coin or token. But its only a current value, tomorrow we can have different prices, in a year market can look totally different, and so on.. What you need to do is to analyze the coin you plan to invest in, do people use it, for what they are using it, will more people use it in time..team behind the coin, are they work on development or they sleep...etc.

Holding money in the bank is same like losing money, with 1000 rubles or dollars in a year you can't make more then couple percents, depending on the bank interest rate. With current inflation in a year your 1000 rubles will worth less, cause you will be able to buy less, simple math.

[MWesterweele]

For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.

If I have the money I will invest it in cryptocurrency also, but more on bitcoin, bitcoin itself is a good investment , even though I will let it aside and I will not trade it still my bitcoin will profit, and the other half is in eth, because eth is second to the highest grossing next to bitcoin and many investors are in it, so there is a very low chance of being remove that in market.

[star7dust]

Sorry to hear about the situation in your country. If you ask me I would rather convert the money into US dollars, because investing in cryptocurrency looks more risky to me. Not that I trust the US dollar that much, but IMO it's less volatile at the moment

[Qastessa]

By those amount of money think being practical first if you need to put your money on the bank there is a fee and they just hold you money for a long term, but you cannot get any profit by just doing that, if you are to invest to crypto  even just 50% on it still it depends on the market price and tells if you can get a profit by on that investment. All of this kind of investment must to be more knowledgeable because we are talking about the income of money, not to lose the money. If you want to not risk your money better to hold it to the bank, but if you want to earn more profit and risking your money try to invest in crypto or to the bitcoin.

For me, since I am the type of person that wanted to have something to invest in my profit from crypto, so I am buying a real estate, with this, although I don't have much money in bank, I am managing fund for my future not only for me, but for my children so I can have something to sell at profit in the future, as of today, there's a lot of temptation as there's a lot of gadgets our there, new style of shoes etc, so instead of spending there, I am just investing it.

It is good to know that you have more than one income source. Real estate is indeed a beneficial profession. You are going to get huge from it. However, if you will invest in bitcoin only, results wont be different. If anything at all, they will be just better. Bitcoin investment is better than real estate at producing profits. If you start bitcoin day trading, your balance in bank account will definitely increase.

[SquallLeonhart]

Anything will do, you can invest it in other things that are not cryptocurrencies or you can go for cryptocurrencies. If you choose to invest it in cryptocurrency I will recommend that you diversify your portfolio and invest several altcoins, in case some of them happens not to be profitable as time goes on.

Bitcoin price has been going down recently and that's what I'm talking about, so you should divide the money and the one you will invest in crypto you should also divide it and invest one part in Bitcoin and the rest you can invest Ethereum, Litecoin, Stellar, Binance Coin and other coins that are going to be profitable. You can also invest in stable coins, there is Gemini Dollar, PAX, USDT and TUSD, and even more of them.