Quote from: cindygirl on November 15, 2017, 03:48:48 AM

Quote from: lestat2k7 on November 14, 2017, 10:09:32 PM

Hi,

Anyone is doing this? Basically if I am not wrong BTC, ETH and maybe a few others seem pretty safe. Money in the bank gets nothing in return.

Is there any drawback/risks from keeping one's savings in these top cryptos for the long term? I don't see how they could all crash rather than bring you significant returns, compared to keeping the money in the bank, watching it stay the same year after year?

Maybe these cryptos go down a lot, but in the long term they are always going up.

Is this a smart thing to do?

Thanks in advance.

Really, don't do this, you never know what may change in your future that could lead you to need urgent access to your savings, by all means invest a significant portion in cryptos but always leave yourself a buffer.

This is common sense, we should only invest what we can afford to lose and no more than that, so it is important to keep a good amount of money in hand and not invested that way if something were to happen we will be able to cover those expenses without having to sell our investments, but if you can afford to invest in stocks and bonds do that as well since that reduces the risk of your portfolio.