Is Crypto safe

[gmhingoro912]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

[1713247695]

1713247695

[1713247695]

1713247695

[Xiongli123]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

Hi! You should know that an investor faces a number of risks, among which the most serious are:
- The risk of hacking the wallet, as well as fraud, in which the user himself gives the code that gives access to his cryptocurrency.
- The risk of sites where transactions are concluded, including technical failures, as well as deception of exchanges and brokers.
- The risk of changing legislation, which can both prohibit the use of cryptocurrencies, and simply bring down quotes.

I recommend studying additional information (there is a lot of it on the Internet) before investing serious amounts in cryptocurrency. There are also many experienced people on this forum who will be able to help you with valuable advice. You did the right thing by writing here

[NeuroticFish]

plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

I will add to the previous post that this kind of investments are risky, hence you should invest only money you afford to lose or have locked in the investment for long time.

In my experience with Bitcoin, while the price did recover sooner or later, there were long periods the price was low and the news were depressing; I expect many did sell in such times and if you are one of those getting easily scared by that you better not invest. Even more, investing in bitcoin makes sense only if you plan to leave your coins untouched for 3, 4 or even 5 years, at least. Of course, financial emergencies tend to occur when Bitcoin price is also far from great. So you have to have a good plan.

Adding to this the risks the previous post wrote, it's not easy to invest into Bitcoin.

Now... you wrote "crypto". Many Bitcoiners will say that you may want to invest in whatever altcoin. Altcoins are way more risky than Bitcoin and I don't have a good rule for them to see profit. In my experience altcoin investments are a losing scenario on long term. Maybe on short or medium term some got nice profits, but I don't recommend altcoins at all.

So, altcoins are a no, and Bitcoin is also something that must be weighted carefully. Then you decide for yourself whether you should invest or not. Good luck!

[Solosanz]

Crypto or altcoins or shitcoins aren't safe and shouldn't be used for long term holding. Bitcoin is the best crypto to hold for long time since it has been proven can survive for 13 years until now.

You shouldn't invest all of your money in Bitcoin, diversify to other assets e.g. gold, real estate, stock etc is better to reduce the risk.

- The risk of hacking the wallet, as well as fraud, in which the user himself gives the code that gives access to his cryptocurrency.

How can someone giving his own private key to other person is called as hacking? I don't think there's a wallet can be hacked because it's secured with cryptography and BIP39 that would make anyone really hard to guess the correct combination of 12 or 24 words.

If you're talking about custodial wallet e.g. exchange, no one should hold their coins for long time using custodial wallet in the first place.

[cryptoaddictchie]

Crypto or altcoins or shitcoins aren't safe and shouldn't be used for long term holding. Bitcoin is the best crypto to hold for long time since it has been proven can survive for 13 years until now.

Altcoins not safe. Maybe partly agreed. Yes there are plenty of altcoins that arent safe but dont generalize it all. There are some also that are good and has potential. I agree that btc is good for long term but you cant ignore other projects that are also has good use case and potential. Its just that you need to be very careful cause some are really money scum bag only.

[un_rank]

I agree that btc is good for long term but you cant ignore other projects that are also has good use case and potential. Its just that you need to be very careful cause some are really money scum bag only.

Sifting through to pick out good coins with potential out of a whole bunch is a huge task. There are thousands of altcoins with majority turning out not to be profitable in the long run.
Sticking to BTC is a safer option, to taking a gamble with altcoins. This is my personal opinion.

The comment above yours mentioned forms of diversification like real estate, gold, stocks, which are much preferable to altcoins if done right.

- Jay -

[mk4]

If you're asking us if you should invest or not, then it means you definitely don't know enough to make educated decisions when it comes to investing in general. If you want to invest seriously, you're going to need to do a lot of studying; and if you don't want to study, just give up investing in general.

P.S. "risky" is subjective.


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

[FatFork]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

Investing is not easy. Frankly, no matter which way you slice it, there's no 100% safe way to invest money. The best investors in the world do it for a living, and they still make mistakes. So, the most important question is: how much money you can afford to lose?

Do you have extra money that you don't need for daily living expenses? If so, it doesn't matter if you can afford $100 per month or $1,000 per month, start small, and increase that amount gradually over time. You have to evaluate your risk tolerance; for example, can you handle high-risk investments? What are your financial goals? When you know what you want to achieve, it is easier to choose your investments wisely. Once you have determined that you can handle the stress of investing (i.e., higher risk), then you should experiment with different strategies and instruments, and find out which ones work best for your goals.

[BitcoinBarrel]

Never be all-in any asset or investment.

Best to diversify and build income sources or residual income.

But yes, Crypto is safe as long as internet is around.

[Stakefast]

It all depends on your way to store the cryptocurrency.
Also be careful while googling private key stuff, it often shows ads on phishing websites where you can loose your wallet by giving them your private key.

[Masplanc]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

Crypto not safe for people who want to depend in it and want to be rich without them having a job or anything. If you understand that bitcoin is a longtime investment you don't need to have any fear. Crypto is safe if only you know what you are doing,  investing on the right coin, follow the rules of Crypto,  invest only what you can afford and not all you have.

[khaled0111]

.. '

I think OP is asking about the financial risks of investing in cryptocurrencies and not about the reliability of the technology or how to keep your coins safe (although he should take those risks into consideration too).
For long term investments, I only consider investing in bitcoin, and some of the major coins, as safe (those who bought at ~$70k may disagree, though).
For short term investments, you should only invest in good projects run by experienced teams and this requires making a lot of research and some experience.
In any case, "do not invest more than you can afford to lose".

[Alisha-k]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

Hi mate crypto is never 100% safe no matter the project always invest what you can afford to lose. If you must go on a long term investment then stick to Bitcoin alone and still invest an amount you can afford to lose at any time. The risk in crypto is something you can't afford to take with your entire money.

[BitMaxz]

Actually, no one mentioned here about what wallet and where you can hold that Crypto in a safe place. If you are planning to hold a big amount of Crypto or tokens for the long term the only safest way to hold them is to buy a hardware wallet like ledger nano.

And take note like others said be careful if you buy a Crypto not all Crypto can be the same as Bitcoin most of the new Crypto are dying quickly only buy a Crypto which is already been here for a very long time and the top 20 coins on Coinmarketcap and Coingecko. That's a good start for a newbie until you learn more about analyzing a coin/token.

If the full money you talking about is all of your savings then I suggest don't risk them if you don't know well how Crypto works. Better do some research first before you going to invest little by little except by buying bitcoin holding them for the long term gives you a chance to make a profit in the future.

[xzy887]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time,

Crypto is perfectly safe if you can keep all your secret information to yourself and for a long time. If no one knows your secret information, then no one can hack anything of yours. There are some people who use their information on scam websites and then they become insecure. So be careful from scam websites.

does i invest full money in crypto?

It depends on where you invest. One thing you have to remember is that there are pros and cons everywhere. There are pros and cons to this cryptocurrency. If you gain good knowledge about crypto currency then here you can invest and profit.But if you invest in various places without knowing about crypto currency then you can be a victim of fraud. So if you want to get profit by investing in crypto currency then you need to invest in good platform and I advise you to invest in Bitcoin. Then you will never fall prey to scams.

[Z-tight]

Crypto is perfectly safe if you can keep all your secret information to yourself and for a long time.

Safety in my opinion is not only about your seed phrase or your private keys which you correctly called "secret information", safety should also be about double checking what you want to invest into, you may invest in a scam project that specializes in rug-pull scam for example, when you are scammed by such project, you will still have your tokens well protected in your wallet, but by then they have no worth or use, crypto safety is investing in the right project first of all, then safeguarding your coins.

does i invest full money in crypto?

It depends on where you invest.

No matter where you invest, or in what you invest, do not invest 'all your full money into it".

[Razmirraz]

plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

I will add to the previous post that this kind of investments are risky, hence you should invest only money you afford to lose or have locked in the investment for long time.

The highly volatile cryptocurrency prices (up and down prices) unexpectedly make the risk of losing even greater. Sometimes you see bullish today, there is no guarantee that bullish conditions can last the next day. For this reason, it is strongly discouraged to use borrowed money for crypto investments. Cold money or money that is ready to lose can make investors a little calmer, they can hold their assets in the long term if the coins they buy are in a bearish phase, this condition will not affect the psychology of investors, investors use money that is ready to lose.

In my experience with Bitcoin, while the price did recover sooner or later, there were long periods the price was low and the news were depressing; I expect many did sell in such times and if you are one of those getting easily scared by that you better not invest. Even more, investing in bitcoin makes sense only if you plan to leave your coins untouched for 3, 4 or even 5 years, at least. Of course, financial emergencies tend to occur when Bitcoin price is also far from great. So you have to have a good plan.

For every investor, an investment objective is indispensable. After understanding the investment objectives, it will be very easy to determine the direction of investment. Investors can determine whether the investment plan is for protection against inflation, additional income, or wealth growth. Every investment must contain risks, but investors must know behind every risk there must be profit. Risk and profit go hand in hand, for this reason investors should remain calm even when the market is bearish.
Before starting to invest, investors should have backup financial preparations, if the indicators of financial readiness have been met, investors can prepare steps to invest safely. However, if the financial condition has not met the readiness, you should focus on improving it so that it does not interfere with the assets that have been prepared for the long term.

[m2017]

Hello community,
plz share valuable thoughts about crypto, is crypto safe or not for long time, does i invest full money in crypto

I can't say whether my thoughts are valuable (you decide), but I have them of the following nature. It's not 100% sure that crypto is safe in the long time and that's okay. Nothing can be said 100%. Everywhere there are risks and uncertainties. Crypto has always been considered a risky asset since its inception, against the backdrop of the stock market, for example. Trends change and assets that were considered safe can become risky over time. I recommend taking this into account. Especially if you plan to invest full money in crypto. I think this is not a reasonable decision and it is better to change "full money" to "part of the money". Which part, here I don't undertake to advise you and leave the decision to your conscience. Investing all the money in crypto is fraught with losses and troubles. If the market falls, as it is now, and you urgently need money, then there will be no other way out than to sell crypto at a loss. You were making these purchases for the opposite reasons, weren't you? This means that losses must be avoided at all costs. Or the market will sink even more and with free money, you can buy another crypto at a bargain price. In general, I consider the strategy of buying in parts with some time intervals to be the best.

[The Cryptovator]

Expressing my opinion, to me, any cryptocurrency investment is highly risky due to its volatility. There is no way to ignore volatility in the crypto space, to be honest, that's the reason why crypto become quite popular in a short time. So invest what you can afford the loss. Remember Luna crash, Luna investors in high price become in the road. Even I heard there was a suicide attempt from Luna investors. So as a crypto investor you shouldn't become crazy do suicide attempts like Luna investors. That's the reason only invest that will not affect your personal life even if you list it. Don't invest life savings in crypto, if so then do it at your own risk.

[CryptocurencyKing]

does i invest full money in crypto

The rule has always been simple, be it cryptos, stock, gambling and with any investment that comes with uncertainty as the case has always been with investments. You always test it out with what you can afford to loose and you continually add to it.

Cryptos has a high level of uncertainty. Most of us have grown accustomed to bitcoin and maybe the top coins with a high market capitalization to be safe for long term but that too has never been an assurance as a long term investment.
If I were to advice you on a coin to chose for an investment, it definitely would be bitcoin but on that too, you mustn't go all in as per investing more than you can afford to lose.