Saving for a House!

[zhengqi]

If you have extra money now, then you should invest it in fundamental coins such as bitcoin or ether. But if you are not a beginner and have a good knowledge of investing, it may be worth taking a risk and invest in something less well-known, but quite promising.

[Blackdeath]

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 it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could  decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

[satgoldan]

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 it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could  decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

And why transfer all your savings to USDT because it is a stable coin that always costs $ 1, isn’t it easier to withdraw everything from the Internet and put it under your pillow. I think everyone knows that the owner of the USDT Bitfinex coin and the American government always have questions to the exchange about this coin due to some violations of the laws, if they can destroy this coin, then your savings will turn into dust. If you already store in cryptocurrency, then in BTC or TOP altcoins.

[xiboothrezi]

do not use money that has been set aside for large interests such as buying a home.  promising profits are great, you have the opportunity, otherwise, the risk of loss is also high.  are you ready to lose that money?  are you ready if you fail to buy a house?  Don't risk what you can't afford to lose.  But if you are sure and can overcome all the risks, then please try.  If I'm not going to risk it, it's better to invest in gold or something.

[josephdd1]

Well if you are storing it in stablecoin, then it won't grow in value unless you are planning on invest that stablecoin in one of the myriad DeFi projects out there.

Maybe you could convert it to stablecoin then lock it up in Nexo for an 8-10% yearly interest rate? Look into the risks before doing so though.

[henmark]

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?

Since you have a time frame for it that you need, honestly, stable coin would be the best option, so that you don’t have to deal with volatility because if you store it in other coins, you could have a drop on the money before then. Stable coin would not allow you to have a drop in the amount that you keep in there, but you should know that with stable coin, you can't get any addition to your coin, because the value of stable coin does not decrease nor increase.

If you want to have an increase on the coin, then I will advise you should invest in bitcoin, just that you will not tie any time to it, so you should just put it in there for the sake of removing it anytime that bitcoin shoots up in price, which could be today, tomorrow within that 6 months and it could even be higher than the 6 months.

[alan2here]

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 it is risky to put all of your saving for a house down payment in a cryptocurrency because there are chances that it could  decreased or increased your savings, so you should put your savings in a coin that is worth for investment such as BNB, LTC, XRP and ETH. But if you want for your savings to be safe you should put your savings in a stable coin like USDT, it would be much better because there are less chances for you to lose a huge amount of money.

I think if you have made a good profit, you should spend 5% savings because this is a very safe way for all investors. I usually convert to USDT and hold for a long time to be able to use this money in the near future because the stable coin never changes in value. Each person has different saving strategies and holding some top coins is also a very promising option.

Of course, it is necessary to be clear in the division of capital and always follow the original plan because if you are not careful, you will lose your savings when investing.

[Webetcoins]

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.

Stable coins do not bring any profit because of their constant value. In order to make money from an investment, there must be some chance of it to gain value in future. Investing in stablecoins is like investing in gold. Even in the most optimal scenario, the price gain will not be sufficient for huge returns. Bitcoin is the right choice according to my opinion too. This coin can make anyone’s dream a reality.

[JC btc]

I think if you have made a good profit, you should spend 5% savings because this is a very safe way for all investors. I usually convert to USDT and hold for a long time to be able to use this money in the near future because the stable coin never changes in value. Each person has different saving strategies and holding some top coins is also a very promising option.

Of course, it is necessary to be clear in the division of capital and always follow the original plan because if you are not careful, you will lose your savings when investing.

Setting aside for savings is really a good idea, during the time I gave my all in in crypto and I lost fund, I learned from it and it was my biggest mistake that I ever made, so for me, we should have fund for emergency purpose, for investment, for future, and for disbursements (daily needs, for monthly expenses) that is what I am doing now, budgeting well my fund, with that I am saving.

[Triffin]

That's risky. If you fail it will end badly. This isn't really money you can afford to lose. Why don't you invest the money into a company or idea you have or some sort of business?
I would recommend you do that over risking it for crypto. Only risk crypto investments if you already have crypto from the start or if you have some extra money you can use to invest that won't shake your whole world if you end up losing it in the end. Something like a house is too much of a risk to be playing games with.

There is no need to exaggerate the risk factor in crypto market because there are numerous examples where people have generated unbelievable revenues with the help of crypto currencies. Risk is there in business. Get your facts straight because 90% of the people who start business fail. So according to statistical data business is riskier than crypto. Investing into bitcoin has never been a risk for anyone.

[sapnu]

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.

I actually prefer investing than any other ways of earning here because it is indeed sure that we can earn money but we just need to choose some of the projects that is making sure also that we can earn because I can say that not all crypto will become successful so we should choose one of them that is going to be successful, and how can we do that? Basically, we can make sure of it if we read everything stated in their whitepaper which is their whole plan to the whole project while running, it is indeed good to study the project who you will be investing too because your money is at stake.

[bohr]

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 you are going to buy a stable coin with the amount of money that you have saved then it seems a better idea for me to save that in a bank or to keep it in your home and not tell anyone about it since it doesn't really make a lot of sense to buy a stable coin, as their name implies those coins are supposed to be stable and are not going to give you any profits no matter how long you hold them, however if you do not trust your local bank then it is better that you store it yourself but be very careful because if it is stolen most likely you will never get it back.

[pixie85]

Maybe if you chose a decentralized stablecoin but it's still risky because you're trusting a relatively new project that hasn't been tested by enough people and for long enough.

If you're really ready to entrust your life's savings to a coin choose bitcoin. It may look like it's more unstable than stable coins but it's growing in value over time. Short term you can see losses but long term you will profit from holding your money there. A stable coin will not give you any profit and it's not much safer than a bank.

[Kevondo]

I think if you have made a good profit, you should spend 5% savings because this is a very safe way for all investors. I usually convert to USDT and hold for a long time to be able to use this money in the near future because the stable coin never changes in value. Each person has different saving strategies and holding some top coins is also a very promising option.

Of course, it is necessary to be clear in the division of capital and always follow the original plan because if you are not careful, you will lose your savings when investing.

Setting aside for savings is really a good idea, during the time I gave my all in in crypto and I lost fund, I learned from it and it was my biggest mistake that I ever made, so for me, we should have fund for emergency purpose, for investment, for future, and for disbursements (daily needs, for monthly expenses) that is what I am doing now, budgeting well my fund, with that I am saving.

If you ask me, I think saving in the form of digital currencies is much better than simply keeping the paper money in bank accounts or personal lockers. The saved amount will increase with time. Though banks also have insurance policies but those cannot be as beneficial as digital coins are. The only point that should be taken into account is, the digital asset should be a potential one.

[stepwilli]

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?

Some people were suggesting that you hold it for one year, but I would say the six months is okay if that's how long you want to hold it for. You're holding a stable coin so there is nothing like worrying about whether the price is going down or up. Whatever amount you put in there that's what it's going to remain when you pull it out, so I don't see the need to hold for one year when that would add anything to it, unless you decide to invest in Bitcoins.
 
If you want to invest the money in Bitcoin then that's where you will have to start doing research and reading the charts to know what's going to happen next.. The market is at a low price now and there are also predictions of bull run happening at anytime.. But if you don't want to take the risks of volatile coins like Bitcoins, then a stable coin is a good choice.

[pundit]

I really do not recommend it still if you want to invest this money in crypto I would suggest you to go for some amount out of the total amount you have.Undoubtedly crypto can grow your amount many folds in a short time but at the same time it too can depreciate your investment in a short period. When dream of house shattered it hurts a lot. It has happened to me, I booked my house and even gave token money when crypto market was at its best but with the last downtrend everything vanished. My purpose is not to demoralize you but I want you to keep your money safe first.

[Gotumoot]

Don't put it in a stable coin because it won't help you. It's best to put it in bitcoin, or in ethereum because you have a greater chance of making a profit here. But you also need to be careful because we don't know what can happen with the bitcoin price today. So it depends on you but it is best that you put it in the bank because it is more secure and you are sure it will not rob by anyone.

[Leema]

Investing your hard earn money on cryptocurrency is not really a wise decision to make. We all know cryptocurrency trading is at high risks and can't be dependable. What I would suggest is keep 50% in cryptocurrency and don't act too greedy not to take profit. And the rest keep it in a bank this will be balancing your risk in half way instead of investing all in cryptocurrency.

[Nolimitz84]

Don't put it in a stable coin because it won't help you. It's best to put it in bitcoin, or in ethereum because you have a greater chance of making a profit here. But you also need to be careful because we don't know what can happen with the bitcoin price today. So it depends on you but it is best that you put it in the bank because it is more secure and you are sure it will not rob by anyone.

Banks are not an option at all.The Bank will never make you rich.Crypto and only crypto.But before investing you need to think very carefully and analyze what you want to invest in.I myself am now in search of a good investment, so I will not recommend anything. Decide everything yourself.

[darkangel11]

Investing your hard earn money on cryptocurrency is not really a wise decision to make. We all know cryptocurrency trading is at high risks and can't be dependable. What I would suggest is keep 50% in cryptocurrency and don't act too greedy not to take profit. And the rest keep it in a bank this will be balancing your risk in half way instead of investing all in cryptocurrency.

Buying cryptocurrency is not always the same. You can buy Bitcoin which IMO is a great idea. If you think it's not you should get in touch with all those thousands of people who bought Bitcoin before december 2017. They should have a thing or two to say to you.
The other part of advice is good you can invest 50% but that doesn't make you safe. If you're trying to buy a house losing 50% will make you almost as miserable as losing it all because you won't be able to buy it either way.