Investment in cryptocurrency

[isladlewis]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

[examplens]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

About cryptocurrency safe, The answer is yes and no.
I suggest you first to learn how its work and then to decide on concrete steps. investigate first what is the safest way to store cryptocurrencies. Probably the best choice is a hardware wallet, especially if we talk about the biggest amount of money. Holding money on any web service can be very unsafe due to many hacks happened.
Bitcoin is a major cryptocurrency and it's probably the best reference to invest, but here is many altcoins which have a big "perspective", but you need to research a lot about them. I suggest you be within the limits of the top 15 on the list.
Also, do not trust everyone, and don't send money anywhere without a good check. There are many sites that offer a high percentage of earnings in a short time, don't believe it because all of the are scam. Here is no free money.

most importantly, never spend more money than you can handle if you lose it..

[Jawhead999]

First thing I want to ask: You're asking about Bitcoin or cryptocurrency (altcoin)?

If you think cryptocurrency is save heaven and always profitable then it's wrong. Cryptocurrency is high risk due to high volatility, the price can changed every second time. A lot cryptocurrency also not safe since it's centralized and your coins could be frozen or controlled. And the worst thing the coin developed by scammer and they stole all the funds from investors.


This thread not in appropiate section and should be moved to the right place.

[Text]

This is not the right section/board to talk about here.  There are a lot of thread discussions here in the forums about investing in cryptocurrency, even outside of it you can get an answer.  Many things can happen when you invest in cryptocurrency, such as the unexpected.  Do not forget that investment has two sides, profit, and loss.  There is no best place to invest because if there is, there is already a lot to earn and everyone there is already investing.  Just remember that you only invest in legit and trusted, do not dazzle with too good to be true such as HYIPs / high RIOs in a short time, there are those in this industry but they are considered Ponzi schemes.

[Deficraze]

What I can see that you are scared of cryptocurrencies and that is normal. However, if you want a safe investment, do what you know.

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

[Maus0728]

But my query is cryptocurrency safe?

Obviously, it will not be safe if you didn't at least spend some time understanding what are the underlying risks involved when it comes to cryptocurrency investing in general. Cryptocurrency as an investment is very volatile in nature which can lead to an excessive loss and perhaps can sometimes give a good stash of money if you trained yourself in understanding the science of the market.

Anyhow, there are few investment thesis which you can read to give you a glimpse of what space you are trying to enter.
[1] https://www.lopp.net/bitcoin-information/investment-theses.html

[TheUltraElite]

But my query is cryptocurrency safe?

There is no investment in this world that is without a risk. So the answer to your question is No. Rather crypto is way more risky than traditional bank deposits.

If you looking for ways to put up your savings, talk to a bank official. Please dont go into spending all your money into buying bitcoin. Nobody is a financial advisor here, but keeping 5-10% of your assets in bitcoin can be a good store for the future. But make sure to invest into other sectors as well like stocks, bonds, commodities and precious metals (NOT gems, they are worthless).

[cryptoaddictchie]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

This is bit scary, when someonr saying to invest his "savings" into crypto. Better not, cause you are putting your money at risk. Only invest what you can stake or accept to lose here. Cryptocurrency is an innovative blockchain product where it can be used to various application however these products arent guaranteed and can only make you loss money if something gone wrong. There are some who earn good but of course they kniw the potential of losing too. Every investment has risk and crypto is way more volatile and highly risky business. Better to do research first.

[pooya87]

I suggest you be within the limits of the top 15 on the list.

as a beginner, specially someone who still doesn't know what cryptocurrencies are and how their pump and dumps work, they should stay away from any altcoins at all. it doesn't matter what their arbitrary ranks are in some ranking system. they should always start with bitcoin and then move on to altcoins if they wanted to after at least 6 months of being in this space and seeing at least some of these pump and dump schemes unravel.

[Alucard1]

Hello welcome to the forum, there are many things you need to know first before investing,here they are:
1. What is cryptocurrency?
Cryptocurrency is a digital asset use by many as a way of earning money, this is also good for having online transactions.

You exchange real currency, like dollars, to purchase “coins” or “tokens” of a given cryptocurrency. There are many kinds of cryptocurrencies. Bitcoin is the most famous, but Ether, Bitcoin Cash, Litecoin, and Ripple are a few others.

2. How does cryptocurrency work?
Cryptocurrencies are exchanged by people to people without a middleman. There is no government and bank relation in cryptocurrency, it is all your money and you are the only one who is responsible for using it.
3. Should I invest in cryptocurrency?
Well, this is the question before you invest, do you really believe in crypto? Do you have good knowledge about it then if you yes, you should invest in it.
4. Invest in confidence.
You should also know that investing in crypto is risky, you can lose your money on it because there is no assurance that you may earn from it because of the volatility of the bitcoin. You should be confident, don't be sad whenever unexpected things happen.

[joniboini]

Why not take this time to learn different kind of instruments then? Even if you don't choose crypto, you should also know what's the plus and minus to invest in stock, gold, etc. Safe or not is kinda ambiguous, I think you should narrow it down. Take your time to learn, don't rush it just because you want to have some assets. The market is still in red for probably a few months, so you'll still have a lot of opportunity by then. And as always, DYOR.

[isladlewis]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

About cryptocurrency safe, The answer is yes and no.
I suggest you first to learn how its work and then to decide on concrete steps. investigate first what is the safest way to store cryptocurrencies. Probably the best choice is a hardware wallet, especially if we talk about the biggest amount of money. Holding money on any web service can be very unsafe due to many hacks happened.
Bitcoin is a major cryptocurrency and it's probably the best reference to invest, but here is many altcoins which have a big "perspective", but you need to research a lot about them. I suggest you be within the limits of the top 15 on the list.
Also, do not trust everyone, and don't send money anywhere without a good check. There are many sites that offer a high percentage of earnings in a short time, don't believe it because all of the are scam. Here is no free money.

most importantly, never spend more money than you can handle if you lose it..

Thank You to guide me. In a simple world cryptocurrency is risky to invest then move to other side.

[PonZZ]

What do you mean by "safe"? Cryptocurrency is associated with big risks and big profits. Before investing in a certain coin, make your own research to avoid investing in pump and dumps, find a reputable wallet to store your cryptos and never invest more than you can afford to loose. It is easy to make money in the cryptocurrency market, but it’s hard to keep what you have earned.

[traderethereum]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

The safe will depend on your view because if you want to feel safe, you can invest in gold, which will more stable than cryptocurrency.
But all investment types will have it's risky, so I think that will depend on yours.
You need to know about cryptocurrency before you invest your money.
You can use some money, let say $100, to invest in crypto (bitcoin or altcoin), but you don't have to use too big money to invest if you do not yet understand how the crypto work.
You need to learn about cryptocurrency, so you know what coin you can buy to invest. In this matter, I suggest you learn about bitcoin and invest in bitcoin.
Although the bitcoin price has volatility, at least, if the bitcoin price increase, the price will increase higher than the altcoin.
But it is up to you, we can only suggest, and the rest will be yours.

[20kevin20]

But my query is cryptocurrency safe?

Safe from being seized and/or frozen by authorities? Yes. Safe from being controlled by anyone else besides you? Yes, as long as you have the right wallet security. Safe from volatility? No. Safe as a long term investment? No.

Depends on what "safe" means for you. If you're looking for something that is somewhat stable and has an assured long-term profit, cryptocurrencies are not it. I mean they did offer long-term profits so far for those who were strong enough to handle big price drops, but the average person usually sells under panic/fear as soon as the market starts dippin'.

Now that you do not have that much of an idea whether cryptocurrencies are safe or not, I highly recommend you to gather as much knowledge as possible about crypto and investments. Don't start off based on someone else's opinion - make your own.

Cryptocurrencies are a new kind of asset. People still do not have any idea whether it's something you should consider safe for a long term store of value or not, so volatility and uncertainty will probably last for at least a few decades.

[AniviaBtc]

I want to invest my savings but I have no idea which is best place to invest some money. One of my friend suggest me to get a cryptocurrency. But my query is cryptocurrency safe?

Cryptocurrencies are safe and profitable if you are effective in using and manipulating it in the market.

Not all investors are skilled and wise enough to control and hold their asset. It does really need a lot of knowledge and experience in order for you to make it profitable and grow your money. Many people doubted cryptocurrency because it is not in the mainstream just like what we traditionally use as an asset like fiat and gold.

But this time, as we are developing and technologies are evolving, cryptocurrency do have a value and importance in the economy and market right now so try to invest on it.

[MickLichz]

Like the others say crypto currency is either safe and dangerous depends on how will you do, for your first step towards to the success in crypto currency is to learn about what it is and how it works, study it's different form in terms of how to earn because there's plenty of ways to earn in crypto. And even after learning the basics as long as you are investing in crypto to earn you should also study continuously and gain a lot of experience.

[claire_lovely]

If you hold for the long term it will probably be a pretty safe investment. As the use of cryptocurrency continues to increase and adoption goes widespread, the price will only increase.

I personally don't hold any and use it to transact daily, but as a hold it would be a better choice to me than stocks, precious metals, or even real estate.

[mk4]

Unpopular opinion: Take some time and do your research instead of asking us here for investment advice. Investing in certain assets and investing in it's entirety is mostly subjective. What a good investment is for me might look to be a bad investment for you, and vice versa.

[plvbob0070]

The safety of your investment depends upon your knowledge and how you issue a decision, since a lot of factors may influence your investment. Set off on your journey by learning how it works and understanding the potential risk you may encounter. You can explore this reliable guide given by @Upgrade00 for beginners as it discusses what will you need as an investor.
Link: https://bitcointalk.org/index.php?topic=5274097.msg55148762#msg55148762

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