Should you put 50% of your income in crypto?

[Chibson]

You will be playing a very big risk if you're up putting such a huge amount of money in your account on trading the volatile market.

50% of your money does not mean that it is so big. If you have $200 in total then 50% is $100. I believe it depends on the kind of money you have in total to determine.

 

[Kojo Sam]

It is not advisable to put 50% of your income on cryptocurrency because it is a very risky business the thing that you could do now is to put very small amount of money on it.

Most of those individuals who does so have a great adventure and experience towards that. It only takes few people to take on such risk so it is not always advisable.

 

[Ononivami]

Most of those individuals who does so have a great adventure and experience towards that. It only takes few people to take on such risk so it is not always advisable.

Cryptocurrency investment comes with a lot of risk and that is why you need to be extra cautious whenever you are trading it. You should always carry out investigations on to trade.

 

[Laurentta]

Well to anyone who has the money or his rich he don't have problem of losing anything to him and think the same way that he is not losing anything but someone who is struggling hard will know that this person is losing.

That's true, a struggling person is always cautious of how they spend or invest their money, whereas most rich people, can not give an account of how they spent or invested their money.

 

[Ononivami]

That's true, a struggling person is always cautious of how they spend or invest their money, whereas most rich people, can not give an account of how they spent or invested their money.

You maybe wrong because there are certain wealthy people that will take into account every penny . It is always important to have budget on the amount to spend on a daily basis so that you won't spend on random things.

 

[Laurentta]

You maybe wrong because there are certain wealthy people that will take into account every penny . It is always important to have budget on the amount to spend on a daily basis so that you won't spend on random things.

Well, that's true. There are really some wealthy people who take into account every penny they spend. Most times, these set of people are usually stingy even to themselves. Most of the rich ones that aren't stingy are not often cautious about their spending.

 

[Ononivami]

Well, that's true. There are really some wealthy people who take into account every penny they spend. Most times, these set of people are usually stingy even to themselves. Most of the rich ones that aren't stingy are not often cautious about their spending.

I have seen and I have come across lots of them. One is my uncle and he make sure to account for every penny he spends. There are many like that amongst the wealthy people.

 

[Laurentta]

I have seen and I have come across lots of them. One is my uncle and he make sure to account for every penny he spends. There are many like that amongst the wealthy people.

That's a good thing. It's good to account for every penny one spends whether one is a wealthy person or not. It shows how accountable and responsible one is and makes one know when one is over spending.

 

[Setho]

Putting 50% of your income into cryptocurrency is something that is not really a wise idea and in fact I am not even going to advise you to do it for any financial market.

 

[Ononivami]

The basic rule of the global financial investment does not say that you should invest 50% of your income in cryptocurrency or any other financial investment. It was stated clearly in the rules of financial investment that you could only invest 1% of your account in any financial investment most especially when it is online.

It is going not advisable to invest 50% of your account in a volatile market because it is a very risky investment.
The level of fluctuations around cryptocurrency market is very high and that is why losses in cryptocurrency could be fatal.

 

[Nomad]

Even though I believe crypto is a good asset for investment and you will benefit from crypto in the long run, I believe keeping a lot of money in crypto can be very risky. That's because the the market goes into a bear run it will bo bearish for a couple of years and you might not be able to hold your investment for that long.

 

[Heatman]

It is always going to be in your best interest to only invest the money that you don't have any plans for in a very long time into cryptocurrency because if anything should happen to that investment which cryptocurrency is capable of doing because of its volatility, you wouldn't be crying too much because of the loss.

 

[Debashis]

It depends on our financial goals, risk tolerance, and understanding of cryptocurrency. Diversifying investments is generally recommended, so allocating 50% of our income solely to crypto may expose us to significant risk. It's always best to consider consulting with a financial advisor to determine the best allocation for our specific circumstances.

 

[Riberet19]

I don't think you have to put so much money into crypto unless your risk profile is too high, you can diversify your portfolio a bit and try investing in other assets that maybe have less risk that can give you very good returns as well, but it all depends on you and your risk appetite and how much you like the crypto world.

 

[Heatman]

It depends on our financial goals, risk tolerance, and understanding of cryptocurrency. Diversifying investments is generally recommended, so allocating 50% of our income solely to crypto may expose us to significant risk. It's always best to consider consulting with a financial advisor to determine the best allocation for our specific circumstances.

The risk is definitely significantly very high for someone who is smart to make that kind of decision of investing 50% of his income on cryptocurrency.

Cryptocurrency is not something that you can just make an unreasonable decision with when you are investing because it can really bite you down very hard if it doesn't go your way.