/biz/ - Business & Finance

[Anonymous No.27452480]

Is it a bad idea to dump most of my savings into bitcoin? It looks like a stable currency that's only going up and I get more interest than in the bank. Any real downsides to this besides not having the money readily usable?

[Anonymous No.27452672]

>>27452480
Do it you won't regret it after BTC goes on another rampage. It's currently consolidating but once it's finished easy blast to 50-60k

[Anonymous No.27452740]

>keeping his savings in the bank
ngmi

[Anonymous No.27452768]

>>27452672
Nice. I was gonna buy a used car, but I bet I could get two cars with that

[Anonymous No.27452784]

Those bakery choc chip cookies are fucking delicious.
Probably dumb idea, DCA but I wouldn't go 100% in.

[Anonymous No.27452797]

>>27452480
>It looks like a stable currency
What kind of stable currency fluctuates 20% of its value inside 30 days?

[Anonymous No.27452920]

>>27452797
At least it's still increasing. I only see a win situation with this, but I thought I'd ask to make sure

[Anonymous No.27452972]

>>27452920
Lose is it goes back to 10k

[Anonymous No.27453075]

>>27452920
It could very well dump entirely. I'm not saying don't do it but just remember that fortunes are just as easily lost with crypto

[Anonymous No.27453245]

>>27452480
1. You could see your money be worth lower than your initial investment for a few months up to a year now and then, but ultimately it will go up way more than your bank over the years.
2. If you tell anyone you are holding, you could be visited by niggers that beat you up for your password.
3. If you don't keep good security on your holding, you could get hacked.
4. If you buy a hardware wallet and the company that sold you it is hacked, you could end up getting blackmail emails and/or letters/visits. Delete all social media accounts.

You can also ignore the rest of these fools who believe it will permanently be worth less.
Bitcoin will always keep going up over the years.

[Anonymous No.27453628]

>>27452480
I'm a poorfag and I just dumped most of my measly savings (4k) 50/50 into BTC and ETH. Planning on moving all of it to a lending account that gives 6.0% APY on both and just DCA part of my paycheck to build up my crypto portfolio. I decided to do this instead of investing into a ROTH IRA and dumping into a shitty index fund because I don't want to wait 40 years to withdraw and live a middle-class lifestyle.

[Anonymous No.27453822]

Thanks for the advice guys. I'll use it well

[Anonymous No.27454235]

Btw I'm using coinbase and coinbase wallet right now. It's a little restrictive in what I can buy. Is there a better alternate?

[Anonymous No.27454291]

>>27454235
What are you trying to buy?

[Anonymous No.27454296]

>>27454235
You're not in NY are you?

[Anonymous No.27454458]

>>27454291
Other than bitcoins, probably meme currency I can throw $20s at for fun. I just added uniswap and GRT, but I want to get shiba and doge while I can

>>27454296
Nope

[Anonymous No.27454600]

>>27454235
You said Bitcoin.
If you are looking to get into trading and alts, then Binance all the way.

[Anonymous No.27454611]

>>27452480
Don't put more money into crypto than you could live without if it disappeared without a trace. Rule number one. Rule number two is if you are going to buy crypto, make the purchase and then never, ever, EVER LOOK AT THE FUCKING PRICE AGAIN for the next five years. You'll either be very pleasantly surprised, or not.

[Anonymous No.27454659]

>>27454458
Pretty sure you can just buy any stablecoin and swap it on UniSwap for whatever you want.

[Anonymous No.27454716]

>>27452480
Remember Crypto is traded 24/7 Globally, if you put too much in you'll always be watching the ticker.

OH NO I LOST $1k WTF

[Anonymous No.27454777]

>>27452480
You should buy ether and bitcoin if you're gonna do it and buy it over a couple of weeks.

[Anonymous No.27455039]

Now's really not a good time. Bitcoin is tempting a massive correction to like 18k. Buy the dip it could take a while but we are still riding the height of a bull run.