Saving for a House!

[Pamadar]

Its a good idea though. But it would have been better if you divide the total funds in a ratio of say 8:2 so that you can save about 80% in stable coins while keeping de remaining 20% in a volatile coin, probably BTC so that your funds can appreciate small by the time you are withdrawing your funds

If you are willing to take some risk but if you are  just questioning the stability of stable coin it's also hard to predict if whatever stable coins you'll
use will still remain with your given time span. Saving into crypto is a good option if you will enhance your knowledge towards this industry. Knowing
the coin to use for your saving is very important, and if you plan also to invest some  of your funds buying bitcoin coming from portions of your money will be the best thing to do.

[Oneandpure]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Did you remember when bitcoin down how can you get back your money, never faced big risk with bitcoin because you can lost your house if you put all in bitcoin investing, you have use other source income for investing in bitcoin because have big risk with bitcoin or you can use half your money for investing in bitcoin.

[FireBallex]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

For someone who knows only few things about how crypto works its better to safe the money using stable coins like TUSD or USDC and it depends when you wish to buy the house, if its still years after its better to invest the money on bitcoin

[zeingrind777]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Stable coins will not grow. You will not get more profit there. It's better to plant on top of CMC coins like bitcoin even though the risk is big enough, but you will get more money within 6 months.

[OrangeII]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Stable coins will not grow. You will not get more profit there. It's better to plant on top of CMC coins like bitcoin even though the risk is big enough, but you will get more money within 6 months.

no, he is not looking for profit. he just looked for ways to save his money well. but, 40k is too big. I would like to suggest using Tether as stable on crypto, but lately, I have heard negative news from it. but, you can save a portion of your funds on Tether. if I were you, I might choose to invest in gold, because I could save it myself. the other thing is saving money that you have on a payment processor like PayPal or perfect money. I think it's quite safe. but if you are looking for crypto, stable coins are the best choice.

[joseyphil82]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

If i were you i would rather invest half of the money in bitcoin and keep the rest on stable coin like tether, in few months more bitcoin will surely surge more and its more profits for you

[tsaroz]

There are many crypto banks that gives better interest rates than most of traditional banks.
Though the risk is a bit higher than any local banks, many of such crypto interest sites are insured.
Among the insured ones, NEXO provides a 8% interest rates on stablecoins without any catch. Celsius provide a slightly better rate but they don't provide interest on earned interest and their calculations are much complex. BlockFI also provides a similar interest on stablecoins that are compounded monthly.

[crossabdd]

If you don't want big risks, a stable coin is good for saving your savings. until you need it and withdraw it again. but if you want to grow, I would recommend to save on Bitcoin. I think in the next 6 months, your savings will grow 5% -10%. but you also have to take risks for losses when the price of bitcoin falls from your purchase price. so your choice is the best. I just gave an explanation to choose.

[bettercrypto]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Most volatile asset cam found in cryptocurrency. There is no room for stability here since it can goes down and rise up fastly as the bank could be.
6 months? I hope your investment would be ruined because cryptocurrency fluctuates too much. If you want to invest in crypto, use only your excessive fund so that you will not blame yourself if it becomes shit.

[ajeef]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Most volatile asset cam found in cryptocurrency. There is no room for stability here since it can goes down and rise up fastly as the bank could be.
6 months? I hope your investment would be ruined because cryptocurrency fluctuates too much. If you want to invest in crypto, use only your excessive fund so that you will not blame yourself if it becomes shit.

Yeah even people prediction with bitcoin and cryptocurrency are mostly positive about next year, it's still cryptocurrency that can make a surprice for the investors. So, it's really not recommended to invest a savings or even just store the money in cryptocurrency because the price could be surpriced us sometimes, it could be pumped or dumped. And If you have a courage to do that, if the price pump you will be rich and you still got the house and extra money. So, it depends on your decision but it has high risk

[blckhawk]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

What's the difference between a stablecoin and the bank? If they both don't deprecate in value, stable and such, I think bank is much more secured than these stablecoins. Not to mention the extra step of going through exchanges that aren't totally secure and does sometimes screw up. $40K is quite a huge sum of money and I suggest to go with banks first as they're much safer and you have insurance when there's something wrong happened to your funds.

[biddicoin]

If you don't want big risks, a stable coin is good for saving your savings. until you need it and withdraw it again. but if you want to grow, I would recommend to save on Bitcoin. I think in the next 6 months, your savings will grow 5% -10%. but you also have to take risks for losses when the price of bitcoin falls from your purchase price. so your choice is the best. I just gave an explanation to choose.

in the next 6 months, bitcoin will be halving. in the last halving bitcoin price is always increasing so much
so, it would get more profit than 5-10% as you said. it possible can be 20-100%
but ofc the history isnt always repeat itself. there is always risk behind bcz this is cryptocurrency

[karanggatak]

Storing our money in stable coins is the same as storing our money in fiat. because there are no fluctuations that can provide benefits. if you want your money to grow try to invest in the top 20 CMC coins like bitcoin, ripple, BNB and Litecoin. those are some coins that in my opinion are quite potential. and I think now is the right time to buy before bitcoin halves. after bitcoin halves many say bitcoin will be bullish. when bitcoin is bull the majority of altcoin will also pump.

[Lantind]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

As my suggestion, don't save money in crypto, because the stability of the price of crypto coins is very difficult for us to predict. Even no one can guarantee there will be profits for the next 6 months, so you still better save money in a savings bank instead of in crypto, because in the bank there is no potential for loss even though there is no profit, while in crypto the potential for loss is very large, even though the profit is also large.

[Stanlo]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

I see you are a newbie and you don't know how profitable bitcoin is, i suggest you do some research on bitcoin to understand what its all about and how life changing the technology really is, i suggest you invest some part of that money in bitcoin and swap the rest to USDT stable currency, you won't regret in the end

[o48o]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Umm, when you take it out from crypto stablecoins to fiat to pay that house, isn't your fear of bank confiscating it even more plausible? At least when you save it normally, banks are seeing that your money comes from legit source.
I have a fear that when i cash out my crypto, they will rule that as money came from drug deals etc, because some banks want to fight permissionless cryptos with any fud they got.

[Zeke_23]

We are saving for a house down payment of 40K.  I don't want to leave it in the bank as there is a old judgement they can take any time so i want to store it in crypto as we grow it over the next 6 months.  Is a stable coin the best option?  Thoughts?

Umm, when you take it out from crypto stablecoins to fiat to pay that house, isn't your fear of bank confiscating it even more plausible? At least when you save it normally, banks are seeing that your money comes from legit source.
I have a fear that when i cash out my crypto, they will rule that as money came from drug deals etc, because some banks want to fight permissionless cryptos with any fud they got.

I think it is still depends on the country you resides. Also, banks will not confiscate funds that easily if you can provide proof. Since OP has 40k (i dont know if what currency it is, basically, he has a source of money to get something that huge, he can use that as a proof and use his investment if ever he earns profit when he was about to withdraw his funds.

[huu78]

Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.

[Cherylstar86]

Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.

If you are dedicated the coin you choose you must take it even the sacrifice it will come up in the future. Also, we can't deny the fact that some of us will assure everything though its not sure but some of it will try the risk in which they believe that someday that will have a great income the future.

[NathanJB]

Storing on crypto even though the stable coin chooses is still very risky. Not only is the price changed or the project is dead but can also be hit with a hack or something.
Safer in banks if you keep so much money to minimize risk. But if you still choose crypto think about it well and set your plan forward.

In this case, I agree that the money should be saved in the banks instead. At least you have an insurance for it. In crypto, you have none. This is a perfect example of a money that you cannot afford to lose. This is your own and your family's house that is at stake here. You should not risk it for crypto. If you really want to enter into crypto, don't risk everything. Take a little portion of it and invest in top existing coins.