Post
Topic
Board Bitcoin Discussion
Re: is it risky to turn all my money to bitcoins?
by
ekans45
on 08/01/2018, 13:24:41 UTC
is it risky to turn all my money to bitcoins? anyhow this money sits in the bank and do nothing for!

Yes, it's risky to turn all your money into bitcoin. Bitcoin is volatile and if you know what you are entering you understand the risk that you'll be taking. And if your money is just staying in the bank and earning with a very low interest better to take the risk in bitcoin by buying at dip and wait for it to grow. The profit in bitcoin may grow in lesser time than your expectation. More risk, more profit but invest only what you afford to lose.
Before you make such a drastic move, you should study first the risk and the factors that affect it. In that way, you can manage your money wisely. Remember that the actions that you will make today, will be affecting your future. Bitcoin is very volatile, but, if you know when to sell, buy, and hold it, you surely have a higher percentage of getting a good profit.