Will you go bankrupt if you lose all your cryptocurrency?

[Laurentta]

If you apply risk management strategy you cannot go bankrupt if you lose your cryptocurrency.
My point is that you shouldn't invest an amount you cannot afford to lose on cryptocurrency

This is also my point. One shouldn't invest all the money they have into crypto currencies or the amount they can't afford to lose into crypto currencies because crypto currencies are very unpredictable.

 

[Hev_Leo26]

Like you, I've invested in other things so I'd be ok. Crypto is something I haven't been into as long, so it's more like 20% of my investments. In the future, that number will probably rise, maybe to 30%.

 

[Setho]

You are not going to be going bankrupt if I sell all my cryptocurrency because I am somebody who always try to check my exposure levels as I do not want to spend so much on one thing.

 

[Ononivami]

You are not going to be going bankrupt if I sell all my cryptocurrency because I am somebody who always try to check my exposure levels as I do not want to spend so much on one thing.

It is not really advisable to invest and amount you cannot afford to lose in a volatile market like cryptocurrency.
You just have to invest what you can afford to risk.

 

[Syldan]

Well I think it depends. you might and you may not. you may go bankrupt when you used all your available resources to invest into cryptocurrency.

 

[Joseph555]

you can invest on if you have certain amount of money to risk. Investing a huge amount of your income on cryptocurrency is not wise
it is advisable to put the amount of money that you can afford to lose because market is very volatile.

 

[Skysaint]

I think the answer for me would be yes because there's a lot of money that u have kept in the stable coins in the cryptocurrency market to avoid the devaluation of money in the offline bank.

 

[GoldenLady]

It's people who have no experience in investing that will put all their eggs in one basket. Considering that cryptocurrency is very volatile, it should not be more than 20% of one's portfolio. This is more important the larger your portfolio becomes.

 

[frederick_9]

Not all of my money is invested in cryptocurrencies.
I fail to understand why I will be so greatly impacted.
The majority of my funds are in stable cryptocurrencies, so their volatility is unaffected by that of other cryptocurrencies.

 

[Good-Person]

It's people who have no experience in investing that will put all their eggs in one basket. Considering that cryptocurrency is very volatile, it should not be more than 20% of one's portfolio. This is more important the larger your portfolio becomes.

I think that if you do not create a portfolio and invest all of your money, then you will surely lose money. This is why it is never wise to invest all the money in the cryptocurrencies.

 

[tyrim88]

One thing about cryptocurency is that you will be told at the onset of trading that it is a volatile curency and the price can fluctuate and its value can either rise or fall,you don't put all your investment there.

 

[Danny4cash]

If we wake up one day and find out that cryptocurrency has gone. And that there's nothing like cryptocurrency anymore I won't be affected financially. As at today, my saving in cryptocurrency is not up to 5 percent of my money.

 

[AruneBend]

Let's assume that we wake up tomorrow to find out that cryptocurrency have failed and everyone's investment is gone, how would it affect you financially? Some people's life's investment is on cryptocurrencies and should that happen, they are financially dead. I believe in the cryptocurrency project but it's only about 40% of my investment that's on cryptocurrencies. If cryptocurrency fails tomorrow, I'll still survive with the 60% investment I have on other projects.

I don't invest in crypto currencies but if you do invest I think you should have savinga or other money source because investing is risky and you can actually go bankrupt no one would want to go bankrupt so you need to save up a bit

 

[Mohammed Rashid]

I long ago withdrew all of my investment from cryptocurrency. The last time was with the LUNA scheme, during which I lost some money but gained back a larger portion. Though I've now said goodbye to cryptocurrency

 

[Agbalagbaa]

Apart from trading cryptocurrency there are a lot of ways that you can use to earn money, you can go into things like forex trading if you have the knowledge you can earn money from it.

 

[FishNPips]

It wouldn't. It would be annoying as I'd rather not lose my money but it's risk capital end of the day. Doesn't stop me paying my bills, eating or going on holiday with my wife.

 

[Sotherefore]

Before I was believing in that investing 90% of your savings in cryptocurrency was the best option but now I've come to understand such is definitely not the best option for me.
I Only invest 40% of my money in cryptocurrency and losing it all may not really affect me all that.

 

[glitch]

I don't have much invested anymore so no, I would be fine. I know someone who lost 80% of his value though through that FTX scam. There is nothing that can be done either. He is talking to 5 different lawyers.

 

[Ronny_4son]

I do not tend to invest all of my funds into cryptocurrency, but if cryptocurrency becomes defunct or ceases to exist, a sizeable portion of my earnings would vanish. That is why it is necessary to diversify your sources of income

 

[Sotherefore]

I do not tend to invest all of my funds into cryptocurrency, but if cryptocurrency becomes defunct or ceases to exist, a sizeable portion of my earnings would vanish. That is why it is necessary to diversify your sources of income

You really have to try as much. As I have setted it in one of my comments I can only be able to invest 40% and that's all . others goes into stable cryptocurrency with no possibility of reducing in value due to volatility.