Topic: Accumulating Bitcoin is better than saving money in the bank. (Read 111 times)

If we can meet with those that have invested in bitcoin and ask about their experience in this digital coin, they will have enough to advise us on, in taking decision over the use of bitcoin for an investment instead of holding down our asset in fiat with the centralized commercial institutions, holding down the money for their own benefits, investing in it, which was the major failure we have failed to realized before using banks, while bitcoin investment is going to evade us from the consequence of inflation and asset devaluation over time due to the massive influence of inflation over the economy and our fiat currency, bitcoin has shown approved to overcome all these incompetence's and we cant afford not to choose bitcoin.

Saving in a bank for daily needs, while saving bitcoin for long-term investment.
Because it is very clear, the bank is not a place to invest because savings in a bank do not make you rich because basically by putting your money in a savings account in a bank, what you have will be devalued and continue to be devalued. This is a fact, even if bitcoin was not created it would be better to save gold than to save money in a bank. Luckily we now have bitcoin, so saving in the form of bitcoin is better.

As an easy illustration of what Bitcoin can offer you in the future. If you remember that Bitcoin has helped change the price of $ 1 invested in 2010 to $ 100,000 today, and in fact bitcoin is now increasingly seen as the best investment solution for the future by more and more people. This is all because Bitcoin runs decentralized, meaning it is controlled by the user network itself and this is very different from banks.

When do lack that learning then you are really that prone to tons of mistakes or bad decisions on which we have thought that the long time that we've been doing is the ideal ones and thats why we have decided on not to touch up any options out there because we are already that contented on what we do have now, until you have known some other ways on which this is far more better rather than on storing up your cash into your savings banks on which we do later realize that banks are really that making some good money out of your money. This is why if you would be liking on having some progress when it comes to financial aspects on which not really just that saving up your money idle into your bank account then having some considerations on trying out to invest into those things on which you do know that could bring out that potential profits that you could be having but of course this wont really be talking about Bitcoin investment but also in other options as well. If you are someone that doesnt really like to deal up with some risky thing then this investment isnt for you and much better that you do stay up into the things that you are currently dealing or doing on. There are those people who are really that not liking to take risks and thats why they do stick up into those traditional ways. For those who are wary about the opportunities then they will be making up that step up into their decisions and made out that kind of step because they do know that the possible chance that they do have when it comes on potential on making money and thats really something an advantage.

Investing in Bitcoin is not for everyone and that's why if someone saves their money in the bank and they're able to save a lot of it, they are still a winner.

Not everyone can attain the risk of taking Bitcoin's high volatile. So, if they're doing good with saving their money in the bank, it's still an achievement.

But soon, they will realize that the per annum rates that they're getting isn't enough due to inflation and that is why they will explore things about Bitcoin.

We don't have to convince people about that because their own situation and realization will make them curious about what if they've already bought BTC long time ago and when it was in the bottom.

By putting money in a bank as a savings scheme will only result in its value dropping through
fees and through inflation. There is a very slim chance of a bank folding and there is a higher
chance of a crypto exchange folding.

Taking control of your Bitcoin with a very inexpensive hardware wallet is the optimal approach.
There is no monthly or yearly fee and there is no inflation.

I dont hold any FIAT of note, I get my part time salary in FIAT which covers some expenses,
all my FIAT based wealth has been transferred to Bitcoin a few years ago, I'm all in on Bitcoin
which has proven to be a great move.

My FIAT wealth would have been severely weakened over the last few years while Bitcoin has
had a completely opposite trajectory and so much is pointing to both trajectories continuing,
FIAT on a downward trend - Bitcoin on an upward trend

As good as accumulating Bitcoin than saving money in the bank could sound to be true (I did it), it's not without its challenges. Bitcoin has the right time to invest in it if you do not want to regret your decision. Don't forget the cries of many people who invested in 2021, they lamented and rebuked Bitcoin for making them lose (those who divested earlier) and for tying their money down for about 3 years before they could get back to profit (for those who could wait).

So, the understanding of Bitcoin matters before investing in it. Just try to avoid buying when it is at the peak level and buy only when you won't need the money for a longer period. Otherwise, if Bitcoin falls to its bearish season, it could be a regret for those who plan to use their money in a year or 2. It's the bullish season that one can be confident to accumulate Bitcoin as pleases and will not regret it.

I guess I have had to talk about this many times about how the bank is just one of the wrong places to have your money starched this days especially if your care much about it not losing value due to inflation and if you want your money to work for you then investing it into a valuable asset like bitcoin.

Savings in bank are said to earn some interest after sometime but that's BS because the bank only gets to give you peanut form the whole profits they make using your money to give out as loans, for investments and other businesses. You could as well be deprived of having access to your money when needed sighting bank policies and so on. Unlike with bitcoin there's nothing as such because you get to be in control of your funds at every given time by using a noncustodial wallet to hold your coins.

 Bitcoin is indeed an asset that many consider more preferable for investment compared to just saving money in the bank. Investing in Bitcoin allows for greater control over your asset and the potential for higher returns, especially over the long term. Its a way to actively manage your financial future rather than just letting your money sit in the bank with minimal returns. Savings in the bank offers security,  but the low interest rate dont keep up with inflation, which can diminish the value of your savings. Banks definitely benefit more from your savings than you do. They use the money for loans and other investments, making profits while giving you a small fraction of that back as interest. It's a system that often leaves savers with screwed feelings. That's why many people are turning to alternatives like Bitcoin, where they can have more control over their money and potentially earn better returns.

Bank is not an investment platform but bitcoin is an investment platform. Bank is where you saved your money because you don't want to keep it at home for security reasons. And when you deposit the money in the bank, the bank would charged you for giving them your money to be secured and in the process they would still used it to do external business to get more profit. Bank owners are making profit like cryptocurrency investors. But the owner of the money are not benefiting anything except little interest like $5 to $10 Monthly. And even that it is the depends on the amount person has in the Bank.
If there is any other place for ordinary people to save money it is better for us to do that and those if us that good in crypto should use crypto to save and hodling.

Most of people think like this, if time deposit can give 6% APY and average inflation rate is 4%, they will earn 2% in every year. While the reality inflation rate is higher than 4%, even it's higher than 6%, so the interest rate can't hedge against inflation.

The second one is, they can't understand the concept of be your own bank, they might think holding Bitcoin in non custodial wallet is less safer/same to hold money in banks.

I don't see @OP mentioned to hold the coins in crypto exchange, instead he said we have total control over our money if we invest in Bitcoin which indirectly saying we hold in non custodial wallet.

Compared to depositing money in a bank, there is a high level of nobility in depositing Bitcoin which is an expression of independent investment management and the possibility of high returns over time. Furthermore it is not wise to deposit money in a bank to get a fixed percentage and against a centralized system Satoshi started his swimming with Bitcoin and gradually floated in the sky and now skyrocket. For financial freedom the decentralized approach is to manage your wallet and try to get a huge Bitcoin stack through long-term. You can get huge profits by depositing Bitcoin compared to receiving a fraction of the small interest paid by the bank, but you will have to go through multiple cycles.
I oppose the idea that you mentioned about holding Bitcoin for a long time because depositing and holding Bitcoin is completely your freedom and if you learn more about Bitcoin, you will understand its depth.

Although bitcoin can give us better returns and give us full control over our assets, it is quite volatile and can be dumped suddenly. Meanwhile, bank savings have low profits but with stability, we can use them at any time and especially to deal with emergencies better.
So in my opinion, instead of distinguishing and choosing, we should have both as they have different use cases and benefits in each case. 
Not to mention, it is also seen as a way to diversify to reduce risk since there is no guarantee that bitcoin will never collapse or that banks will always be safe.

To me, bitcoin is for the future, while bank savings are for necessities and emergencies.

The chance of bank collapse and losing money is much less than the chance of crypto exchange collapse, so bank investment is safer, but the return is lower. As for the return on investing in Bitcoin, it is profitable and good, provided that it is long-term, with a minimum of four years, and the method I mentioned for collecting currencies is what is known as DCA, and there are many sites and explanations that teach you how to track your profits in this way, just search for it on Google.

Before knowing about bitcoin I was one of those people who liked to save in a bank and that seemed very good to me, but there came a time when I lived in a country where money was greatly devalued, they had a lot of inflation and devaluations were the order of the day and those savings were nothing anymore, since I found out about bitcoin it was the only way to save, strong money such as the dollar, euro and others always have the same inflation problem, bitcoin does not, if you save in bitcoin there will never be losses, quite the opposite.

Many people have a lot of money saved in the bank and the bank are using the money to give loan to people which will in turn pay them back with interest and only a little fraction of this interest will be credited to the person that save the money, the inevitable part of it is that they will still charge the person for their services when they are already making profit from the money.
Saving money in the bank cannot be consider as investment because you don't have total control of your money and you are not also making good profit from the money, the bank may even fold which may result to loosing all the money in the process but if the money is use to accumulate Bitcoin you are pretty sure that you are totally in control of your money while making significant rate of return on the investment especially when the Bitcoin is hold for a long time.
So what's your correlation in saving money in the bank to using the money to accumulate Bitcoin?