Saving for a House!

[tabas]

I've seen one stable coin that went down lower than $1, I forgot the name of it but there should be someone that also knows what I'm talking about. If it's for the downpayment of your house, I wouldn't place it on stable coins, since you don't have any plan of keeping it to bitcoin, much better to put it on a savings bank.

[samcrypto]

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 did this, i put my fund on my wedding in cryptomarket and made an easy profit with this one. If you want to earn more the I only suggest to put that money on bitcoin and ethereum, this is my only choice when it comes to short term investing. Go take the risk mate, it will be worth it just stay away from any shitcoins and always go on top.

[calandra78]

This is a thought that is not good and risky, because saving money in crypto has a risk we will be able to lose all of the money if for investment you want to buy property save in the bank because in crypto there will also be banks too, if you want to also invest in crypto select a good coin and safe like bitcoin and ethereum

It is wise not to put all our money in cryptocurrency , it is still best to have our savings and to have our own traditional business and to have investment such as stock market or to a real estate. It is still best to allot your money and spend it wisely, don't go all in crypto as it is too risky, been to that, gave all in and nothing in return, ended up nothing , so I learned my lessons now.

but you can hear that some crazy people dare to sell their assets when they see the market go down and invest in bitcoin. several people in this forum shared their experiences. but either the truth or it is just nonsense. If that happens, there is also a possibility that their speculation with confidence in crypto is very high. because the risk of investing by selling our assets in the real world is certainly very unfortunate.

[vicknick]

If you want to keep your money safe I recommend keeping them in the bank(taking into account that your bank deposit is insured by authorities). Of course that fiat money is exposed to inflation, but so are crypto stable coins like DAI which is pegged 1:1 with the USD and you have some risk that sometimes happen with the DAI infrastructure. As you can see in their chart it had some pretty crazy wicks. Inflation won't affect your holdings too much as you're planning to hold them just for 6 months as you said.

[landoffaucets]

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?

You are going to buy house in next 6 months? Then buy Bitcoin now, after 6 months Bitcoin halving come and I am 100% sure that price will be much higher than nowadays.
Stable coin will not bring you any profit. 

[Febo]

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?

Buy gold if you hate banks or cash. Stablecoins are same as fiat just worse. Bitcoin is volatile if you plan to keep it in Bitcoin for only half year. Gold is best.

[bonyaserg]

Personally, I think that holding a cryptocurrency is very profitable and convenient. Since the crypt does not stand still, it can increase every day. And accordingly, income will increase. And now is the time of new technologies where cryptocurrency plays an important role in the crypto industry. And accordingly, the price will rise due to greater demand.

[kaya11]

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?

That is a lot of money for me I think, if you are really planning to put it all in crypto please bear in mind that your money could end up worst thant what you are fearing when putting it on a bank, it could be gone in an instant. Aside from alts, you better leave for btc i guess, that is a wise thing to do I think.

[JCviggen]

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?

That is a lot of money for me I think, if you are really planning to put it all in crypto please bear in mind that your money could end up worst thant what you are fearing when putting it on a bank, it could be gone in an instant. Aside from alts, you better leave for btc i guess, that is a wise thing to do I think.

I also think that using such money to invest in a crypto is best to choose the most low-risk strategy and Bitcoin is the most reliable currency for such an investment

[Katashi]

Is a stable coin the best option?  Thoughts?

If you're really keen to store your money in crypto specifically on a stable coin then my answer is yes because the risk of losing your money is very minimal since stable coin price don't fluctuate that much like other coins but you should know that you won't get good returns either so it is safer to keep the money yourself  if you don't trust the banks.

[tenakha]

I don't want to leave it in the bank as there is a old judgement they can take any time

Does anyone deposit money in the bank? Instead of losing my money because of this decision, I prefer to be stolen by someone. lol. Or finding something that can keep its value, as you say.

Is a stable coin the best option?  Thoughts?

I do not trust stablecoins personally, but it might be a good option for you.

Or why do not you keep your money in any safe place? What about depositing to forex brokers like Oanda or LCG? Do not trade, just leave it there.

[efxtrader]

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 the aim is to invest or speculate, stable coins are not the right choice. Stable coins will not provide any benefit in the long or short time because the price is pegged with dollars. In my opinion, if you want to invest safely for the short or long term, Bitcoin can be a good choice

[Maslate]

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 the aim is to invest or speculate, stable coins are not the right choice. Stable coins will not provide any benefit in the long or short time because the price is pegged with dollars. In my opinion, if you want to invest safely for the short or long term, Bitcoin can be a good choice

40k is such a huge amount and it would be very risky if you put it all in crypto. Maybe a half of it you can invest it into bitcoin because it will surely make profits and the other half of it place it in a bank or maybe other investments aside from crypto. Don't put all your money in just a single investment especially crypto because its price is very volatile that it could go up or down any time.

[Wintersoldier]

Basically from the concept of the white paper developed by Satoshi, you can be your own bank. In this idea, what you need to understand and figure out is how you can store your crypto to a place where you are the only can access it. And the best option to do it is for you to have your own bank which is a hardware wallet. Many of the users here are suggesting that you can use a stable coin such as USDT.

And USDT is the current best stablecoin

Incorporate USDT in your hardware wallets such as ledger nano or trezor, and through that, you can secure your funds like your own personal bank.

[albrots]

Stable coins can be an option because the value of voting follows the USD 1: 1 Currency. This will be very safe for you to save money without the need for deductions. But do not save in altcoin, because it is very risky. If you want to invest in bitcoin it's also good, but it's better for longterm and must know the movements of the bitcoin market.

[Ailmand]

If you are investing it for you to grow what you have now, investing in stable coin will not be a good option. But, investing in other altcoins or even bitcoin might put your funds at risk. We don't know what might happen in the next 6 months and that is a huge amount of money. If you are a risk taker and you trust that the market will be good 6 months from now, take the risk and invest it in bitcoin. But make sure not to leave it in any exchange and secure it somewhere safe like a hard ware wallet.

[ecnalubma]

Is a stable coin the best option?  Thoughts?

No, but you can store it in stablecoins but your money will not grow. However if you are willing to invest and sacrifice your savings then buy Bitcoin but it will not guarantee you a profit in 6 months period setting it long term will give you higher chance. If your practical you could somehow invest your money in small business to roll your money and make descent profit.

[Edraket31]

If you are investing it for you to grow what you have now, investing in stable coin will not be a good option. But, investing in other altcoins or even bitcoin might put your funds at risk. We don't know what might happen in the next 6 months and that is a huge amount of money. If you are a risk taker and you trust that the market will be good 6 months from now, take the risk and invest it in bitcoin. But make sure not to leave it in any exchange and secure it somewhere safe like a hard ware wallet.

We should also take note that either Bitcoin or altcoins have no assurance and guarantee that you will earn a can make a house for a year, it still depends on the situation, if you are making it long term, possible but always double check the updates and news for any tokens/coins that you are holding at. As per me, I don't invest with the coins I am not sure of, I am just holding Ethereum and Bitcoin at the moment, and some of my profits, I am saving for my dream house. 

[inthelongrun]

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 don't think this is a good idea. Stay away from risky investments when it comes to money allocated to anything of importance. The safest thing you can do is investing it on secured bonds, deposits and other sort of investments. These investments won't generate big income but it is safe and secured.

I also fucked up when in 2018 I poured thousands of dollars in crypto believing I could earn profit so I can buy a more expensive property. The money in the end cannot even afford the cheapest property on my list of choices.

[wajik-tempe]

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 don't think this is a good idea. Stay away from risky investments when it comes to money allocated to anything of importance. The safest thing you can do is investing it on secured bonds, deposits and other sort of investments. These investments won't generate big income but it is safe and secured.

I also fucked up when in 2018 I poured thousands of dollars in crypto believing I could earn profit so I can buy a more expensive property. The money in the end cannot even afford the cheapest property on my list of choices.

Investing in crypto is just like gambling because the price is so speculative and when we think we'll get much profits but what happened is the opposite. And when we think we will get loss, we'll gain much profits. So, cryptocurrency is so undpredictable and the best way to invest is having a concept of nothing to lose, so we are not worrying about our investment