Kakashi2020 Posted May 31, 2018 Share Posted May 31, 2018 There are reports and articles written saying that newbies are particularly at risk while technical investors are potentially at risk because there's no completely safe way to hold on to Bitcoins. What is your take on this safety issue? Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/ Share on other sites More sharing options...
fishbate Posted July 27, 2018 Share Posted July 27, 2018 In my opinion every investment is a potential risk specially when the investor has little knowledge about the investment. It's like buying something that you just heard...The best way to invest on bitcoin is to study the basic and learn the do's and dont's. It'S also wise to ask questions specially on people that have current investments. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-2021 Share on other sites More sharing options...
mirodge Posted October 26, 2018 Share Posted October 26, 2018 I recently have my bitcoin account but I am still in process of learning how to manage it. Slowly and surely I studied by reading and watching videos. There is a website that give you opportunity to have collect bitcoins in every hours. After collecting I tried multiplying it by playing HI-LO and ended up losing the bitcoin I had collected. I`m planning to try the investment but I should study the technique first. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-2201 Share on other sites More sharing options...
cks003 Posted November 5, 2018 Share Posted November 5, 2018 If one refers to safety in terms of trading platform, I think the block chain technology provides the safest avenue compared to other trading platforms. The block chain technology is specially designed to avoid double spend problem, in which no two entities can claim ownership of one virtual coin. To achieve that, the trading is done and has to be approved by all the nodes in a decentralised network. The nodes are miners, they are required to approve a transaction. Before new block is attached or added to the existing chain, the history of the block is evaluated and agreed upon by all nodes. Only then the new block is created and added to the existing chain. Therefore, consensus is the main tool to avoid any discrepancy and theft. The mechanism provides the safest avenue to trade. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-2454 Share on other sites More sharing options...
focusedwriter10 Posted November 6, 2018 Share Posted November 6, 2018 Based on the trends so far, the performance of Bitcoin and the increase in value alongside appreciation in various nations, it is safe to invest in Bitcoin. Nonetheless, you should only invest the extra cash that you have. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-2529 Share on other sites More sharing options...
Onizuka Posted November 8, 2018 Share Posted November 8, 2018 The technology behind btc and cryptocurrency in general - blockchain - makes them relatively safer compared to other currencies. Cks003 already gave the technical explanation of it. Here's a real life case of how that technology worked: https://cointelegraph.com/news/530-million-in-xem-stolen-from-coincheck-can-be-traced-nem-team-confirms Millions worth of XEM were stolen but were rendered useless to the thieves. Note that the theft happened because of the exchange's lapses, not the coin or its blockchain. Generally, the risk that people most people are scared of is not the cryptocurrency but the proliferation of scams and/or failed ICOs and the lack of safeguards in such situations because there are no laws that cover such situations. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-2616 Share on other sites More sharing options...
nekonieden Posted December 6, 2018 Share Posted December 6, 2018 I think it's kind of risky as the value of bitcoin is not steady. Sometimes it increases and sometimes decreases. What I am afraid for is that those site who usually scam those folks who invested money for bitcoins and I think it did happened to me right now as I am still waiting for my pending withdraw for almost 1 week or two weeks. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3227 Share on other sites More sharing options...
Alymae Posted December 6, 2018 Share Posted December 6, 2018 There is no such thing as safe investment. Every investment is a risk especially bitcoin. The trick is don't invest what you cannot afford to lose. You cannot avoid risk, especially in investments. After all, fortune favors the bold. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3243 Share on other sites More sharing options...
focusedwriter10 Posted December 7, 2018 Share Posted December 7, 2018 22 hours ago, Alymae said: There is no such thing as safe investment. Every investment is a risk especially bitcoin. The trick is don't invest what you cannot afford to lose. You cannot avoid risk, especially in investments. After all, fortune favors the bold. I agree all investments involve risking. However, you should only invest your extra cash. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3286 Share on other sites More sharing options...
Alymae Posted December 8, 2018 Share Posted December 8, 2018 6 hours ago, focusedwriter10 said: I agree all investments involve risking. However, you should only invest your extra cash. True. Only invest what you can afford to lose do. not.ever.invest.your. life. savings! I have a friend who did this. I was so shocked, I keep shaking her. I cannot do anything because it was her decision and her money. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3296 Share on other sites More sharing options...
focusedwriter10 Posted December 8, 2018 Share Posted December 8, 2018 8 hours ago, Alymae said: True. Only invest what you can afford to lose do. not.ever.invest.your. life. savings! I have a friend who did this. I was so shocked, I keep shaking her. I cannot do anything because it was her decision and her money. I feel sorry for her, but I hope she learned a good lesson regarding investment and risks associated. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3320 Share on other sites More sharing options...
Alymae Posted December 8, 2018 Share Posted December 8, 2018 1 hour ago, focusedwriter10 said: I feel sorry for her, but I hope she learned a good lesson regarding investment and risks associated. Me too. It is a lesson learned for her, harsh but effective. This is the reason why everyone should be careful about investing in bitcoins. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3325 Share on other sites More sharing options...
Caguioa747 Posted January 4, 2019 Share Posted January 4, 2019 It is safe to invest in bitcoin if it' price is on the dip and never invest when it's price is on it's high. because the basic principle in the cryptocurrency world is "Buy low and Sell High". Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3766 Share on other sites More sharing options...
philipdavid016 Posted January 4, 2019 Share Posted January 4, 2019 I think its not safe. There are news I have heard in our country that have lost a lot of money because of scam in investments. You really have to be sure if where you are investing will gain and not lose. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3781 Share on other sites More sharing options...
Alania Posted January 4, 2019 Share Posted January 4, 2019 Nothing is safe in this world, but as to regard the risks Bitcoin has then it honestly depends on the one solid fact: spend what you can afford to lose! That policy applies almost to anything. Bitcoin could be a smart investment, even if it falls then it will rise again. Unlike other cryptocurrencies, Bitcoin is the most secure and stable one. Quote Link to comment https://slingbank.com/forums/topic/563-is-it-really-safe-to-invest-in-bitcoins/#findComment-3837 Share on other sites More sharing options...
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