Topic: Bitcoin as savings, emergency needs possible? - page 10. (Read 2091 times)
I got your point. But, i will definitely go to bank if the money that i had is saving. Because, its not like bitcoin prices always stable and good. Just what if, when you in such need and you want to cash out the bitcoin you've been save this long time and the prices is dipping deep like early 2018. You could loss such a fortune in that case. So, i think you should separate saving and investing. Invest the money that when it loses, you're not being burdened about it. #IMO
So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
I think bitcoin as saving , emergency needs impossible. because the bitcoin is long term investment. the bitcoin is high volatile . you can loss alot , if you short term.
Indeed with the existence of bitcoin is now able to provide great opportunities for someone to seek for profit every time by investing so they can achieve success when they are patient when the exchange rate is still in bad condition.
Sure, that's my idea. The crypto market and the blockchain industry will be the trend of the future. That opens up many opportunities for you to make a profit by investing in crypto as a long-term way of accumulating an effective savings. If you give up savings and deposit at the bank, it is completely unprofitable and effective. Instead, you can invest in bitcoin, eth. Long-term safe options that have the potential for significant growth in interest rates.
I'm not quite a fond of this idea. In the first place, we all know that bitcoin is volatile, which means there will always be times when it's value is low. So, how can one meet the price of payment in an emergency case if the price of bitcoin is way too low? I guess bitcoin is good for things, but definitely not this one.
It's bad choice, i think. Bitcoin has fluctuative price, we dont know price of bitcoin is up or down. It's depend supply and demand in the market. If you need real money when emergency, and bitcoin price are down, you will loss your asset and no choice if you are in an emergency. So many way to save your money and get profit in the future, such as property, gold and etc.
Your thoughts are most probably on the same wavelength as of the rest. Bitcoin as savings is much preferred than saving fiat. Fiat savings are not that easy to withdraw anytime, especially if you save them in the banks. They have their office hours and days. Outside of these, there will be no services given. And most of all, your savings do not really increase in value unlike in Bitcoin.
BTC as some emergency fund is not the best idea, because the price of the BTC is always fluctuating, if need to use the money, the price of the BTC fell in, then throw will only lose money at this moment.
Yes it is so good to use in times of emergency and severe needs. Banks can say wait without understanding the whole situation but if you hold your bitcoin and exchange it wait is not the word but immediately you got what you need to survive your present condition. So I think sometimes it much better to use than banks savings. Banks time you can't hold but with your bitcoin you hold it wholly.
What you have in mind is really possible, although it is very risky, in my opinion, bitcoin as savings could be good and bad, and that is because it is volatile, if your saving is unstable and it matters to the value of bitcoin then if the value of bitcoin goes down, along with it is tour savings, I would suggest that if you really want to save money, put it somewhere that is not that volatile, so that you could see your money grow even though it is slow, but it is safer.
When we making savings it comes to our minds that the money we save will be avail in the future during time of needs, we put our money in bitcoin for us to have savings, investments in order to have profit inthe future, during emergency cases , we can use this bitcoin in times of immediate needs and that is possible.
So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
I think, It is impossible, you save in bitcoin for emergency needs. You prefer save in banks for emergency needs. The bitcoin is long term investment.
So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
Bitcoin can be a emergency fund because the liquidity in market is biggest. One thing we should attention if we want bitcoin as emergency fund is bitcoin price is very volatile and we can not predict the price and when the price down, our emergency fund will decrease too.
By nature of the English language alone, bitcoin or cryptocurrencies in general would not be a good emergency fund.
Why? Emergency funds often allude to an urgent need for money that is easily accessible. With bitcoin and crypto, you may have to go through the process of sending and converting your coins to cash/credit. Not to mention you will be forced to sell at whatever market price regardless of whether it is a good trade or not.
A better alternative as an emergency fund would be a credit card or cold hard cash stored underneath your bed.
Why? Emergency funds often allude to an urgent need for money that is easily accessible. With bitcoin and crypto, you may have to go through the process of sending and converting your coins to cash/credit. Not to mention you will be forced to sell at whatever market price regardless of whether it is a good trade or not.
A better alternative as an emergency fund would be a credit card or cold hard cash stored underneath your bed.
For me Bitcoin could really be a savings like i'm doing it when i needed money bitcoin is always there and it's a great help of bitcoin for us to help in anyways.
So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
bitcoin in my opinion can be a long-term investment you can withdraw your funds at any time, This is very easy and very profitable for its users. It's just that we need to be careful because of its fluctuating nature
The presence of bitcoin is the best opportunity to use it in savings for the future to earn big profits.. This is a great idea if you have an emergency need to make real spending by not sacrificing bitcoin, and you should have another job or income without sacrificing your bitcoin to keep your bitcoin well or it would be better to increase it with the extra income you have..
There was a recent article about a young bitcoin millionaire who advised that people should be investing at least 10% of their earnings into Bitcoins for a long period and within a short possible time, they would see themselves reaping the rewards of their investments.
investing is one way people save their money and increase the amount. A good investment is a long-term investment that spans at least 1 year or more. It's just like investing in land, houses, and the like. With that asset, you could have sold it quickly when it was in emergency need. But for the cryptocurrency, you must follow the price at that time if you want to sell it suddenly. Not to mention if the market conditions are falling.
in my own opinion, bitcoin can be an investment funds for emergency and for crisis circumstances in light of the fact that by putting away bitcoin for the long haul it will be more gainful on the grounds that bitcoin costs will most likely ascent high again and can be a reserve funds for us.
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