Is Bitcoin such a big risk?

[qwertyup23]

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.

Bitcoin is an investment which is similar to owning stocks or purchasing gold. What sets bitcoin different among the investment mechanisms available is the volatility of its price on the market. You cannot accurately forecast when its price will increase/decrease as it is dependent on several factors. Due to its nature being decentralized and volatile, owning bitcoin is relatively riskier compared to any investment available today.

To answer your question, it depends on your goal on your investment if you are going for short/long-term investment. Generally since bitcoins are volatile in price, people typically sold their bitcoins if they see a X% increase on its price (it depends on your goal). If you are aiming for long-term investment, then you better prepared to lose some coins as again, there is no guarantee about this investment. The catch is, the rewards are high!

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[Reid]

It's better to have doubts with everything that you will decide.

Is buying Bitcoin a risk? Yes. Is buying stocks at this time a risk. Yes.
Keeping fiat in a bank is a risk? Yes.
That way, you are still thinking about your security which is a good sign. You're still not blindly buying things or investing with them.

So answer is, Yes.

[bitcoinisbest]

My opinion. If someone has a mentality like a businessman or an ordinary person with a record he understands and can evaluate the costs and risks of investing in BTC if it happens at any time but if they don't understand about it, the decision is up to them to choose to invest their money in a fiat savings account.

Unfortunately, not many people have a mentality like a businessman because many of us don't know about the risk of investing in bitcoin. We can say that we can handle the situation, but the truth is we can be panic anytime we see the price is going down. It happens to many people, and they still invest their money in bitcoin because they have a  hope that in someday, they will make a big profit from bitcoin.

If people do invest that only they will make profits from bitcoin and not loss, then it could be wrong. Also, I know some just invest thinking in quick time the price will rise and they will make money which again is the wrong thing as if market crashes and it does not recover soon, they may end up in a loss. So, investment in crypto is risky and one should be ready to take risk and have patience to invest for long terms basis.

[lionheart78]

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.

Every venture has its own risk, and placing our money in Bitcoin has no difference.  There is the risk of losing money when the value of BTC plummet but in exchange of that risk is the opportunity to gain more.  Holding money also poses some risk.  The risk from being stolen, risk of being devalued from the inflation.  The difference between the two is that in holding money in savings account includes a third-party company called the bank that they can freeze the account anytime they wanted with the very slim opportunity of getting an interest due to the very small interest policy of banks.  While in Bitcoin, we have the direct access to the wallet as long as we have the private key.  Ignoring the volatility, I can see that holding money in a fiat savings account (assuming it is deposited in a bank) has more risk of being lost than holding it in Bitcoin.

[Xembin]

Bitcoin is not a big risk,compare to other cryptocurrencies, if you invest on bitcoin liberally without fear of risk involve,you will never end up in low profit like the way other cryptcurrency reduce to zero value.

[rexxarofmoknathal]

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

I think it depends on what type of mind-set you have. In some regards, BTC and crypto investments in general can be risky in the sense that you might be buying at the wrong times but even if you make that a long-term investment, often the wait pays off. Fiat savings is what normal, regular people use and in times of financial strain like these I don't see fiat savings as a great option.

Thus, either option in its own way carries risk as well as benefit. However, we live in a world where most people are risk-averse so usually the'd stick to something that is less mind-bugging and thus go for the easier option - maybe not necessarily the best though!

[ChiBitCTy]

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.

As of right now, this is not even a debatable subject and anyone who says bitcoin is less risky to "hold" or own, has no idea what they're talking about.  Bitcoin has not proven to be a stable currency yet.  It's value wildly fluctuates and there's no insurance backing your money.  Savings accounts in most countries are insured, and promise a small interest rate.  Unless the banks go belly up, your value at least will never decline.  The same can't be said for bitcoin right now.

[mezzaluna]

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.

Investing always come with a risk and in real life investments when we are pertaining to the stocks that are available, they always present the risk that comes with Investing. However, Bitcoin and other Cryptocurrencies poses a small threat. There are many opportunities presented in the Cryptocurrency Industry and learning about Bitcoin will be the best investment of all. Bitcoin's value is unpredictable BUT there is always a chance on where it can double your money and that's an opportunity nobody wants to pass. I guess its better to split your money between Bitcoin and a fiat savings account since its just savings and we are in a pandemic, investing on something must be worth it.

[tbct_mt2]

As of right now, this is not even a debatable subject and anyone who says bitcoin is less risky to "hold" or own, has no idea what they're talking about.  Bitcoin has not proven to be a stable currency yet.  It's value wildly fluctuates and there's no insurance backing your money.  Savings accounts in most countries are insured, and promise a small interest rate.  Unless the banks go belly up, your value at least will never decline.  The same can't be said for bitcoin right now.

Bitcoin is volatile and volatility is a beauty of market. If people want to have something stable, invest in USD or fiat but remember it is only stable on paper number. In fact their real value in life use cases will decrease over time with inflation.

The another beauty of bitcoin is it can not be shut down by governments as stable coins can be. [UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

[mezzaluna]

In cryptocurrency and when we talk about investment, there is always risks.

But if you are not that knowledgeable about investments and how to control your assets then it will surely make you lose it.

Never waste an opportunity to invest in bitcoin and learn more about it. You can make cryptocurrency investments very worth it and profitable for you if you will spend time for it. Most of the things in life are risky, that's why you need to deal with it if you are courageous to grab the opportunity without hesitations. By that, in terms of investments, you will probably succeed.

I bold-ed some words that was really interesting and must be focused on. Our assets means that its our choice whether we invest or not invest. Its our own decision that can make us gain profit and not other people since its our own money BUT that doesn't mean to stop investing on Bitcoin but rather take the opportunity presented and just make to follow your gut feeling on when to pull-out your investment money. I always remember success story on how people gain so much money just by investing on Bitcoin and they are even creating their own houses now. So if that guy can do it, probably we can too.

[bakasabo]

It's better to have doubts with everything that you will decide.

Is buying Bitcoin a risk? Yes. Is buying stocks at this time a risk. Yes.
Keeping fiat in a bank is a risk? Yes.
That way, you are still thinking about your security which is a good sign. You're still not blindly buying things or investing with them.

So answer is, Yes.

Even simply living in real life is risking. You can woke up, make a first step when you get out of the bed and brake you leg. Later die from blood loss.

Any investment, purchase without a proper research is a risk. Buying something that is not know to each and everyone (like bitcoin atm) is a double risk.

[Yatsan]

There is really certain risks associated on Bitcoin but those can be practically be manageable as time goes by. The risks are being triggered most specially for the newbies and to those that are lacking of knowledge about the certain thing have got engaged with. The risks with Bitcoin is that if you do not certainly know what you are doing but still insisted to put up an engagement. Investing or trading with Bitcoin is a risk and also a gamble at the same time if you are not knowledgeable about those things but if you do, you are lessening the chance of risks to pop up for you do know what to do and you won't get easily fooled by murmurs, rumors and here says that might put your money into risks.

The risks on Bitcoin aside from being volatile in nature is the people around working on it that will certainly deceive you and those are known to be hackers and scammers. Simple thing to get rid or avoid yourself from being caught on their trap is be knowledgeable and that is what I am saying how certain risks associated with Bitcoin can be manageable as time goes by.

[Yamifoud]

There is really certain risks associated on Bitcoin but those can be practically be manageable as time goes by. The risks are being triggered most specially for the newbies and to those that are lacking of knowledge about the certain thing have got engaged with. The risks with Bitcoin is that if you do not certainly know what you are doing but still insisted to put up an engagement. Investing or trading with Bitcoin is a risk and also a gamble at the same time if you are not knowledgeable about those things but if you do, you are lessening the chance of risks to pop up for you do know what to do and you won't get easily fooled by murmurs, rumors and here says that might put your money into risks.

Indeed, it was manageable. And despite those challenges, hearing about scamming, and hacking of accounts people still coming in here just to show some interest and finally set their mind to invest and willingness to face the risk. If we keep in mind and always think about losing or being a scam, there is nothing it happens with us. We are just being bullied by ourselves.

The risks on Bitcoin aside from being volatile in nature is the people around working on it that will certainly deceive you and those are known to be hackers and scammers. Simple thing to get rid or avoid yourself from being caught on their trap is be knowledgeable and that is what I am saying how certain risks associated with Bitcoin can be manageable as time goes by.

Those who never understand crypto will most likely to say negative and it was very unfortunate how they close their door for crypto. I hope they will open up their minds and see an opportunity in Bitcoin. Yes, it is risky but it can't be that big if we carefully manage our investment just like the others who also been in desperation before. It just how we look forward and make a change in our life and strongly committed for the incoming.

[husencoe]

Investing in bitcoin will definitely get big returns, but the risk is also high because there is no guarantee if our bitcoin assets are lost or stolen while keeping our fiat money in a bank account is safer but the money will not increase

[jekanmasin]

The question has being told so many time in here. We all know cryptocurrency trading is a very high risk. Big risk big return just what we all know. So if you want to make money with trading cryptos before that tell yourself how much i can afford to lose. Do not used all your life saving instead used your daily money pocket to start small. Learn how things work and stat to make your own portfolio.  We all start from small to big so be patience and drink some bir. 

[Vatimins]

     When it comes to money or any assets connected to money, there will always be a certain amount of risk in every choice you make whether investments or by just holding/maintenance. The only thing different is the level of risks. But even so, there are ways in minimizing risks depending on the situation. In the case of bitcoins, you can minimize risks by learning from the mistakes of others and doing a hell lot of time investing when it comes to learning more about bitcoins. The more you know the lesser the risks. Now, if just for the sake of comparison, fiat is safer despite the pandemic affecting the world since his industry cannot guarantee anything yet and is almost mainly based on speculations alone. That's my view. Hope it helps.

[Rafiqul]

While all businesses have the potential for risk, cryptocurrencies are relatively risky. However, the risk of Bitcoin is less than that of other cryptocurrencies. There is no such thing as a profit on a Fiat Savings Account; You get more out of investing in Bitcoin with less risk. In fact, it is impossible to be successful in business without taking risks. But invest only in the amount of capital that you can afford to lose.

[Asuspawer09]

All investment is risky, that is why a lot of people recommend to just invest what you could afford to lose. I think when it comes to bitcoin the market supply and demand are already having its foundation I don't think you could really lose the investment in this kind of market when you know how the market works. The thing here or method that you could use is if you are not going to sell your bitcoin you do not really go to lose money if you sell your investment at a low price where you buy it that is where you easily lose money. Most of the investors lost in investment because they just don't believe in bitcoin, but for me and a lot of investors that already know the volatility of bitcoin has a big dump is a good thing.

[Sirait]

“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

^ this is a great motivational word, without taking risks we will not be able to see opportunities. as long as I am in crypto, the biggest risk I experience only my wallet is hacked or the price of my assets goes down, nothing more. and the two risks I mentioned can happen to Bitcoin.

I am not worried that my asset value will decrease or my wallet will be hacked because I believe that as long as I can make good decisions the risk is not a big problem.

[Sanugarid]

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

I'm thinking of the same thought as you lol he's been a legendary member for quite a time and still wants to know if bitcoin has risk. This might be the first question that newbie is asking here all the time, I didn't expect that the OP isn't aware of it.

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 .

Bitcoin when compared to different asset like gold and silver, we can totally say that it has a higher risk than those things because of the high volatility rate that it contains. Gold and silver are volatile too, price changes every day but in the case of bitcoin it is very different, the price is being determined by the demand and supply in a certain exchange. Aside from these risk, we also have security risks and that's for another topic.