Saving for a House!

[ven7net]

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?

Why not. Cryptocurrency has a great potential for growth, especially in the next two years, and if you want to increase money and make a big purchase, then this is a great option. However, you must understand that cryptocurrencies are highly risky and the last word is always yours. On the other hand, it is difficult to imagine an asset that could give a good profit. Definitely only cryptocurrency.

[Ajaone]

To me, this is very risky and it will be better for you to keep the money in fiat currency. Even you invested it in Bitcoin, it is still not 100% safe because this is crypto and they are highly volatile. None of us known what could happen tomorrow, therefore keeping the money that you want to use to buy house in an unregulated asset class is not a wise decision.

[tracyhayley]

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

[Viscore]

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

Yes. Invest in crypto with the amount you can afford to lose and not totally all your savings amount. You can still put some of your money in a bank because it would be totally safe in there. Investing in crypto might give you good profits but the time is still indefinite and due to price fluctuations, it will add more risks in your investment.

[nydiacaskey01]

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 am doing the same thing, saving any cryptocurrency that I earn in signature campaigns and air drops, but I save it in a wallet not in an exchange site. If you are afraid that a bank can take your money anytime, so does an exchange site. Imagine those accounts in Bittrex that was placed on hold without notifying the account owners that includes me. Thats why I am not that confident in saving my earned cryptos in an exchange site. Its a big NO.

[Wintersoldier]

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

That's quite possible but from the fluctuation that we can experience, we cannot already consider our investment as a loss since the moment we sell our coins, that will be the start of loss. As we hold our funds with us, with a private key (and much safer with hardware wallet) we are still on track and the same way that determines loss will determine our profit and that is the market volatility/fluctuation. You can save your funds but make sure you are willing to wait whenever the market of your chosen crypto falls.

[DabsPoorVersion]

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

Yes. Invest in crypto with the amount you can afford to lose and not totally all your savings amount. You can still put some of your money in a bank because it would be totally safe in there. Investing in crypto might give you good profits but the time is still indefinite and due to price fluctuations, it will add more risks in your investment.

It is very risky.
As he said, he only wanted to grow his money for over the next 6 months. Having a timeframe will only make his situation worse, we all know that there is no guarantee that his money may grow or decrease after that. He should have to risk the money he can take to lose.
A bank is a good option to put the funds to safety, rather than investing it in crypto with only limited time.

[Itsmylife]

Cryptocurrency markets are big but risky, you can lose your money because the market plummets or hackers attack. Never invest too much what you are willing to lose.
If you still decide to invest in this market, I think you should split your investments and buy USDT.

buy USDT for what? It's value seem unchange in the crypto market.
Better you should buy ETH or BTC than buy others, this will decrease the risk to your investment.

[sends1]

I think that's a very large amount. profits in investing in Stablecoin will also not be much, because it usually only goes up a little. If you want to get more profit, invest in other altcoins like ethereum, ripple, bitcoin etc. You can also see a list of the top coins in coin marketcap

[Pearls Before Swine]

This idea doesn't even make any sense, because what realtor is going to accept altcoins as payment for a house?  You can barely buy real estate with bitcoin, much less any other cryptocurrency.

And Op, everyone here is telling you this is a risky proposition and I'll go even further and say it's a stupid plan.  If you're saving for a house, you ought to save cash and *not* buy altcoins unless you never want to own a home.  The chance that you could lose your savings is too great to even think about trying this.  You might as well go to your local casino and play roulette instead.

And as was mentioned, banks are going to be a part of any real estate deal and you won't be able to get away with a completely cashless transaction when buying a house.  I don't know what country you're living in, but that's generally the case everywhere.

[Lexurdania]

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?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

[Colt81]

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?

Putting your 40k savings for a house down payment in a cryptocurrency could be a risk because your funds would decreased and increased, that is why you should be putting your funds in coin that has a potential to give you a  huge profit. If you will be putting your funds in a stable coin like USDT, it could have a lesser risk because there are less possibilities for your funds to have a low value.

[NewRanger]

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?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

only imaginer person that will do this. Put money only in one basket will make us be poor man if someday something wrong happen to our Investment. Jts not wise decision switching 100% asset from property to cryptocurrency ,meanwhile property has less risk if compared with crypto market. In this market we could totally loss,but in property or house its price "always rise ,and there is no standard price as long as demand still bigger than supply.

[Dau1coduot]

Coins and stable coins are not good idea i think. Just keep cash or you should buy gold. 6 months is not long time, cash or gold will keep its value.

[tambok]

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?

In my opinion it is too risky to put all the money that should have been for a down payment into cryptocurrency. Just invest with the money we can afford to lose because we never have what happens with the price of cryptocurrency in the next 6 months. It could be the price of the coins that we invest down and this will dash our hopes to pay for the house

only imaginer person that will do this. Put money only in one basket will make us be poor man if someday something wrong happen to our Investment. Jts not wise decision switching 100% asset from property to cryptocurrency ,meanwhile property has less risk if compared with crypto market. In this market we could totally loss,but in property or house its price "always rise ,and there is no standard price as long as demand still bigger than supply.

For my almost 3 years in crypto industry, I can say that everyday is a learning period for me, I went to a mindset wherein during my early years, I am cashing out immediately the funds I have, then those coins becomes more than times 4 of the price I cashed out, so I told myself not to cash out immediately and wait and hold, then when I hold it didn't meet my expectation, so lesson learned is when I already have profit even a little, don't need to wait long for it, it is better than risking expecting more then ended losing more.

[barabarian1]

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 think if you keep your money on a stable coin then the same as you save fiat money the value will not increase. it's better if you dare risk you using your money to buy bitcoin. or if you are afraid of losing money you can use some of your money. for example you can save as much as $ 30,000 in a bank and then the remaining $ 10,000 you can buy bitcoin. and I think now is the right time to buy before bitcoin defends two by 2020. if you are lucky your money will multiply when bitcoin bull run. but you also have to be ready when this bitcoin dump is a risk that we have to face. but I'm optimistic that bitcoin can pump again.

[pobeditelvezde]

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?

From my point of view it need to be an extremely desperate person to use for investing such important passives like a house. I consider that neither a house nor other important assets (the passives) must not be used for investing purposes albeit sometimes people hazard a house. Let us clarify the situation. Suppose, you have lost a house and what will you do? Particularly, try to answer a question for yourself where will you live? I consider that it is better to have less than not to have anything at all.

[crisanto01]

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?

From my point of view it need to be an extremely desperate person to use for investing such important passives like a house. I consider that neither a house nor other important assets (the passives) must not be used for investing purposes albeit sometimes people hazard a house. Let us clarify the situation. Suppose, you have lost a house and what will you do? Particularly, try to answer a question for yourself where will you live? I consider that it is better to have less than not to have anything at all.

Agree with you, let's not gamble our precious house but rather we should be motivated and be inspired in investing for having our own dream house, let's just invest the money that we can afford to lose, let's not be too greedy to be able that we are taking risk even our own house and our car, this is not the way investing should be as you will be in desperate once you lose it.

[barnes13]

If you want just to save your money in crypto, it's the best choice to store it in stable coin. But if you want some profit, you can choose one of the top 5 coins in coinmarketcap. But i won't recommend you to save all of your money in cryptocurrency. it has a high risk, you may have some loss because its fluctuations.

You're absolutely right! If you are ready to lose everything to get a big profit, you can start investing in crypto. But you have to really think carefully about this. Then, ff you want to go through a safe path, then saving in stable coins will be highly recommended. Another option is you can also invest through deposits in banks. They provide a fairly high interest at this time.

[GideonGono]

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 think that was good for something good coin on you will invest but the best option for a less risky thing is to invest a good coin for future like bitcoin that we'd know it was the best coin back the until now.