Post
Topic
Board Altcoin Discussion
Re: Just in case
by
kryptqnick
on 05/09/2021, 09:31:05 UTC
When people talks about diversity in crypto space they only point at big projects and small projects combined but no one ever talk about their life savings, I've seen people putting all they have into crypto and yes they have more than 5 coins in their portfolio but is this the smartest move?

Personally I think the smartest move is to have some funds offline as well, if you know what diversity means then you should be smart enough bro know that nothing is guaranteed, have some money 💰💰 offline and some online (crypto and other), putting all your eggs in one basket is bad and too much of everything is also bad
If you're not using an online wallet, storing cryptos doesn't mean having all the money online. And unless you have packs of cash at home, all your money is basically numbers on the screen that won't mean anything if a catastrophic event like a huge Internet disruption happens. So keeping your money in the bank won't help with keeping your funds safe. Another option is gold, but it's not something you can use to buy anything straightaway, and you need something that successfully functions as money. So having money in cryptos is okay if the private keys are safe. The only huge risk is, of course, devaluation of your savings, as cryptos can be very volatile. But that's a separate concern.