Is Bitcoin such a big risk?

[Sapphire915]

Yes, its a bit risky for me - Its either you win or lose. Same as the other investments, we dont actually know what will happened next. And one more thing, scammers are always anywhere just waiting to victimized us, especially our Bitcoins. That is why some people really dont trust Bitcoins.
However, to those who are working here in Blockchain industry, its quite manageable to us for we knew all the great features and benefits that Bitcoin had brought us especially in this pandemic. There might be risk, but i guess some individuals here can cope up easily. Our full trust to Bitcoin and other cryptocurrencies made us all forget the risk and took it as a challenge in everyday here in Crypto world.

[SoulMortal]

Yes some people do fear of bitcoin because it's new and it's price is very much high. Bitcoin is like a share market so I think people dont want to loose their hard earned money but bitcoin is a good investment for a long term if they invest their spare money they can make some profile in long term without taking any risks.

[Shasha80]

All investments have risks, but Bitcoin is an investment with a high risk. Even so, it doesn't make Bitcoin lost demand,
because the possibility of profit made from Bitcoin is quite large and promising. Then more and more people are interested
in investing in Bitcoin, it must be remembered that big risks can generate big profits too. Therefore I prefer to take it
risk with investing in Bitcoin, compared to just saving in fiat currency.

[hrik]

Bitcoin not crossing 11k till 2 years,I feel sad ,bitcoin has huge potential.

[ilovealtcoins]

Bitcoin is risky and volatile in the price for a week, a month, or a year, but if you look at the history of bitcoin, it is having good growth. If Bitcoin fell by around 70% in 2018 then it would have rapidly grown again in the following years. Although it is not possible to recover the original ATH level, Bitcoin will do it in the future. Bitcoin is still safer than other altcoins in the crypto market. For example, Ethereum is currently down 2/7 in value compared to ATH, EOS is currently down to 1/6 in value compared to ATH ... there are many other altcoins. If we were to invest with our free money with bitcoin, they probably wouldn't be too bad at losses. If we used leverage, we might be bankrupt now.

[proscratcher]

I think there is a risk if you buy a lot of volume right now with a price of $11909.70 per BTC. There is a higher chance that the price will drop in a cliff. I saw it happened before when price drops $1k in value in just 1 day. There is also a chance that it will go up like when it reaches $20k. So yeah, there is definitely a risk but you'll never know if you don't give it a try.

[Stedsm]

I have a few questions actually to ask you, which will basically answer your query if you're smart enough to understand the logic:

- Aren't stocks riskier?
- Aren't savings in private banks riskier?
- Aren't investments in Gold and diamonds riskier?
- Isn't real estate riskier?

If these things possess risks and people still invest in them, then why not cryptocurrencies which has come up as a completely new asset class and gives much better returns if done with proper risk management skills?

[kawetsriyanto]

You must know every investment has its own risks. Yes, Bitcoin has a risk, but high or low the risk depends on the person who invests in the Bitcoin. If you invest blindly without sufficient knowledge, then you will have a bigger risk. But if you learn everything about Bitcoin first and you know how to deal with Bitcoin investment, then the risk should be lower. The point is you shouldn't hurry to invest in Bitcoin without good knowledge about it. You must learn the crypto market and everything about Bitcoin investment first.

[pixie85]

Of course the risk of holding money in a savings account is much smaller than holding it in Bitcoin unless you're holding dollars of Zimbabwe or any other worthless fiat money.

The problem with having a savings account is that it's not really an investment. The purpose of profit from this account is to contradict inflation. In many countries you get less than 3% a year but the inflation is at 2% so all you're getting is 1% a year. Bitcoin often appreciates 10% in a month.

[Wawa2013]

Even though the risk of investing in Bitcoin has a big risk, it doesn't make me back down from investing in Bitcoin.
Because I believe in Bitcoin completely, so never hesitate to buy as much Bitcoin as possible. I really believe Bitcoin
can provide big profit, if we hold it in the long term.

[deadmousehat]

invest according to your financial ability. Of course there is a higher risk of putting money in bitcoin without having a backup fund. not only bitcoin, but all types of investments have risks.

[3meek]

At the moment cryptocurrencies are not very popular among people around the world! That's why they are afraid to risk investing their money in them... Especially after bad news about cheaters or the collapse of the bitcoin rate from 20K to 3K...
Also, the existing mechanisms for converting cryptocurrencies to fiat and back are either uncomfortable or very expensive...
But in my opinion, sometimes it is not safer to keep money in a bank than in the cryptocurrencies, at least in my country!

[adzino]

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.

To some extent it is true. The future of bitcoin and other crypto currencies are not known. If every country starts to ban crypto currencies, the price of it is going to fall very badly. But, the chances of that happening is quite low. In fact a lot of governments/countries are supporting the usage of crypto currencies and are trying to regulate it in a proper way so that people can use it legally without any problem.
If you think of investing it for a short term, then yeah there are huge risks. But, if it going to be a long term investment, then remember, the price of bitcoin always tends to increase in the long run, so you will eventually make profit.

[AniviaBtc]

Bitcoin is a big risk, but with a big profit and goals.

It is not only a digital currency, it is not only about risks.

Bitcoin can change someone's life if he is good at observing the market, if he is good at reading news and articles regarding the economy.

If you will choose between investing in bitcoin and gambling with bitcoin, investments are much good and safe compared to gambling which is really risky and have a lower probability of winning. If you try to risk your bitcoin in that way then it is nonsense. Just invest in bitcoin and deal with its risks in the market due to its volatility.

[Peanutswar]

Bitcoin is a big risk, but with a big profit and goals.

It is not only a digital currency, it is not only about risks.

Bitcoin can change someone's life if he is good at observing the market, if he is good at reading news and articles regarding the economy.

Many people too would like to makes an investment with the Bitcoin because it's volatile which is a good thing because once making an investment when the marker price drops and sell it when the price reach ATH still this is risky at the same time because we cannot make sure that the market will going to uptrend so investment on bitcoin too requires a lot of knowledge and skills.

Many people getting lose on this investment because they don't have time to learn and explore.

If you will choose between investing in bitcoin and gambling with bitcoin, investments are much good and safe compared to gambling which is really risky and have a lower probability of winning. If you try to risk your bitcoin in that way then it is nonsense. Just invest in bitcoin and deal with its risks in the market due to its volatility.

For me at the same time ill make an investment than playing gambling because I already hold from the lowest market price so I'm waiting on my profit than playing gambling that there is a 100 percent you will lose.

[pragna]

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.

First of all risk is everywhere. BTC is as much risky as much fruitful. So you have to take risk if you want to gain big amount that you will not gain from flat currency. If you see the market last 4 months how BTC pump that can not come from flat investment so that people invest here for high dividends. On the other hand some people has huge money and they try here as a lucky chance so that if market fall they can wait because everybody knows that today or tomorrow crypto market will pump and that time we have to wait.

[Tipstar]

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.

First of all risk is everywhere. BTC is as much risky as much fruitful. So you have to take risk if you want to gain big amount that you will not gain from flat currency. If you see the market last 4 months how BTC pump that can not come from flat investment so that people invest here for high dividends. On the other hand some people has huge money and they try here as a lucky chance so that if market fall they can wait because everybody knows that today or tomorrow crypto market will pump and that time we have to wait.

Correctly said. Risk are everywhere and investing in just one thing may bring a disaster. The proportion of your investment also depends on where you live (and what you do). It's been seen that most investment on crypto comes from economies that are volatile or the inflation are higher. The countries where there are direct economic uncertainties and where  the government can confiscate your money without any valid reasons. And even for a sound financial economy, crypto would act as an insurance as it's one of the most global value you can get your hands on. It's easier to hold, carry and move.

[GDragon]

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.

If you are talking about a spare money, the money you would not think of every single time, and you'd still have spare for emergency and for everyday use. I think it will be safe to store it in bitcoin, just don't use all of your money. Btc price will go down but it will always go up.

One reason that some people see btc risky aside from its volatility is the image it has to other people. It has this image of scams and illegal use, but you shouldn't worry if you are knowledgeable about this technology. You can do safe and secured ways to store your bitcoins.

I just thought that everything we do in life should have a certain risk. If you are running away from risk, then you are living your life without the chance to improve it or live a better one.

[proscratcher]

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.

I agree with you but do you think bitcoin will worth more than $12k in the next 5years? I'm considering ETH as alternative to BTC.

[Lorence.xD]

Anything related to currency certainly has risks, buying bitcoin with money can certainly risk losing value if the price drops, but I have other experiences in my country that there have been cases where people save their big money in a private bank then the bank goes bankrupt, Currently the fate of customers is frustrated to hear that, so actually everything is full of risk depending on how that person keeps their money, I prefer to put my money in crypto

There is a certain truth regarding risks about currency but that should not be a problem to be worried about. Like what OP and others said, do not invest what you can't afford to lose or something like that. The problem with the banks as mentioned above is they need the customers to stay afloat, the money that is remitted in serves as a lifeline of the bank, I know that there are other factors that play in the bank situation but that is the basic of it.