Is Bitcoin such a big risk?

[ChrisPop]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

[1715152227]

1715152227

[1715152227]

1715152227

[YuginKadoya]

It certainly had a risk of its own but in my opinion, Bitcoin is not a big of a risk to other cryptocurrencies, I think Bitcoin has established a safe zone that it will not end up becoming a zero value anymore so if you had spare money why not give it a try,

Some people often don't want to get involved with Bitcoin and other cryptocurrencies because of the fear of that little risk, and I have talked to a friend that said Bitcoin is only for the rich because on the value of bitcoin, But I think even establishing your own business has a risk everything has a risk involved in doing it and doing nothing.


“The biggest risk is not taking any risk... In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

[tippytoes]

It certainly had a risk of its own but in my opinion, Bitcoin is not a big of a risk to other cryptocurrencies, I think Bitcoin has established a safe zone that it will not end up becoming a zero value anymore so if you had spare money why not give it a try,

Some people often don't want to get involved with Bitcoin and other cryptocurrencies because of the fear of that little risk, and I have talked to a friend that said Bitcoin is only for the rich because on the value of bitcoin, But I think even establishing your own business has a risk everything has a risk involved in doing it and doing nothing.


“The biggest risk is not taking any risk... In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

You really can't blame people for the hesitation towards crypto, newbies or beginners in particular. As a lot of them don't know how crypto works and how they can invest and handle bitcoin without losing, they have the feeling that small mistake and they will lose their funds. That is very understandable because they are still grasping on how to lessen those risks involved. So if you are really a beginner in crypto, you do really need to invest what you can afford to lose. And once you get good grip on what's going on, you can slowly go outside of your safe zone.

[Coyster]

Bitcoin's risk is not only inherent in it's price or it's value, one very good reason why people prefer to keep their assets in fiat is because they can't afford to be their own bank, and protect their assets all by themselves. Imo, the most feared risk people have is losing their funds, they have heard about scam exchanges, hacked wallets, malware and phishing links stealing coins and so much more, it is scary for newbies, they just want to put their money in the bank and allow the 'third party' to protect it for them.

[TalkStar]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

Its not only for crypto currency related investment but also for other field of investment. If you anyone haven't got enough backup fund then its better not to take excessive amount of risk.  

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

If you want to put all the assets you got then i am not gonna support you. Every investment have two equal side (Profit & Loss) and you have to keep that on mind. I don't think you will find any investment option which have no risk factor and bitcoin is not different from that.

[pathapoddo]

Like any other investment in the world if you invest in bitcoin it will have some risk. Because you can't invest on anything which doesn't has risk. But for me I think bitcoin has only a small risk compare to other cryptocurrency, I will always go for this little risk of bitcoin and will invest on it. Though many people scare to invest on bitcoin and cryptocurrency. But you have to understand if you can't take risk you can't gain profit.

[o_e_l_e_o]

Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

Depends on which fiat we are talking about here. Holding USD does not have the same risk profile as holding Venezuelan bolivar or Zimbabwean dollar. The inflation of the former is much more drawn out process, with the US dollar losing >95% of its purchasing power over the last 100 years, whereas the inflation of the latter is often rampant, with figures of hundreds or even thousands of percent each month.

It also depends on what you mean by risk. Risk that your money suddenly loses a significant amount of value? Higher with bitcoin than with "stable" fiats like USD. Risk that you slowly lose your purchasing power over the next 5, 10, 20 years? Higher with fiat than with bitcoin.

Every investment, be it fiat, bitcoin, gold, stocks, property, whatever, comes with different risk profiles. The whole point of diversification is to balance your risk. Putting everything in fiat, or everything in crypto, is stupid.

[Gozie51]

What's your opinion?

So curious to see the response especially today when we live in times of crisis.

This is the better reason to invest in bitcoin and not cash.
One reason is, Cash you put in the bank and that is more risky if there is war in example.

Another reason is, if you hide it somewhere, it might get damaged.

But bitcoin is safe if you save the code.

[minersday]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

People who see and think Bitcoin is a big risk are people who have no or little knowledge and understanding of what Bitcoin is and how relevant it is to the financial ecosystem. If you don't understand how something works, you might see it risky to use or invest in it. People need to understand Bitcoin before making assumptions on whether it is a big risk.

[gentlemand]

Of course Bitcoin is more risky than fiat savings, as long as you're in a stable economy that also has banking insurance. Anyone claiming otherwise is a bit strange or has spent too long on here.

What Bitcoin has built is massively impressive but it's all still being made up as it goes along and no one knows what's around the corner. On top of that there's the risk of one's own incompetence when it comes to securing coins or exchange accounts.

The main risk with fiat is your money slowly withering in value, but it's not a risk, it's a certainty.

[verita1]

I have always had my money in cryptocurrencies because it has been the only income I have obtained. I live in a country with high inflation and unemployment. Due to this high inflation, the issuance of paper money in my country has decreased. When banks open their offices, which is one week yes and the other not due to the pandemic. Users can only withdraw the equivalent of $ 1 from their bank accounts.
Financially, we keep up with electronic money and debit cards.

[ChrisPop]

Bitcoin's risk is not only inherent in it's price or it's value, one very good reason why people prefer to keep their assets in fiat is because they can't afford to be their own bank, and protect their assets all by themselves. Imo, the most feared risk people have is losing their funds, they have heard about scam exchanges, hacked wallets, malware and phishing links stealing coins and so much more, it is scary for newbies, they just want to put their money in the bank and allow the 'third party' to protect it for them.

Spot on, Coyster. I think that the majority of the population (the employees) have been conditioned by the environment to put their trust on the government and believe that no matter what the state will take care of them, so they are now scared af to take responsibility and in this case to do their own diligence and use a better solution aka Bitcoin.

[HiringYou]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

Undeniably, the unstable and volatile nature of bitcoin make bitcoin investments riskier but what in the world is not risky now a days. If we compare fiat saving accounts with bitcoin investments then obviously fiat saving accounts are better in terms of safety but if bitcoin investments are done wisely they can provide us with higher returns than fiat saving accounts.So no doubt it is risky but according to me this risk is absolutely worth taking.

[livingfree]

Fiat gets into inflation but bitcoin does have volatility which means you get a possibility your money could go high in value.

It has a big risk because unlike any other assets, they are moving slowly and it's up to the person, how he will describe and look into this characteristic of bitcoin. To us who have been into the bitcoin circle for a year or more, we understand that this risk is more of an advantage.

[Botnake]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

This is true, and actually it's not only for bitcoin but for other high risk investment, or any investment as they all have inherent risk.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

Your only have to fear about inflation when you are putting your money in the bank, but inflation only happen when the economy of your country is bad, but if you put your money in bitcoin, there's really a risk as the market is volatile, it could dump so hard that you might lose your faith of holding it, that's the risk why some investors can't afford to invest their money in bitcoin.

Also, putting your money in the bank is just a form of savings that you can withdraw anytime you want without losing much value if it will lose due to inflation, but with crypto, your money could go down 50% even in a week, so you have to accept this kind of possibility, therefore I suggest to diversify your money, put a saving in the bank and allocate money for investment in crypto.

[btc_angela]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

So curious to see the response especially today when we live in times of crisis.

Its depends on your risk aversion, but bitcoin through time have shown that it has a good potential, risk reward is very high. Yes, just invest what you can afford to lose, and we have to remember that it is not necessary to get 1 BTC, you can use dollar cost average to stack sats and eventually, you can get to that 1 BTC club. Fiat saving? nah, I would rather invest my money on bitcoin and take the risk, and I'm sure majority here does.

[christhemaner]

Any investment has risks. Or it will be an unprofitable investment.

[Insanerman]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

Well, being a financially literate person, this is quite right. Not because Bitcoin and cryptocurrencies are risky, volatile, and a "balloon" like currency, but because investments and money saving must be separated depending on what purpose you want to use your money. But keep in mind that every money you have, you must always separate those on savings, insurances, investments, personal needs, and luxuries. Therefore, it is risky once you've put most of your money in either Bitcoin and crypto or any other investments/savings, as soon there would be probability that you might need it for events like emergency purposes.

[peter0425]

Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.

Then those many people that you mentioned are people that knows nothing about technology and don't understand how this goes,being legendary you must have own stand since you have been here for so long.
I don't know why account on your rank still has this questions.

I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?

Actually if your money is earn to feed your family then why need to risk here or even in banks?putting your money in banks promises you to earn 3-8% annually ?is that enough for you?if does then forget about crypto.

So curious to see the response especially today when we live in times of crisis.

All that i invested here in crypto are mostly my income from the signature campaigns i have joind and some are extra money from my part time jobs in which not included for my budget to feed and make live my family.

[shoreno]

your forum level is much higher than on mine and you are supposed to know these things  .

 based on my experience throughout the years i can say that it is . btc is really risky compare to when simply holding your fiats  . if you still didnt know why i said that , its because btc has a problem with stability but risk is smaller now because btc value is increasing and that is because more people invest during these times .