Topic: Bitcoin as savings, emergency needs possible? - page 13. (Read 2091 times)
Well at first, bitcoin was created to be a currency, and now bitcoin had became a asset like gold, I would keep bitcoin as savings since the value increases through time and aside from that bitcoin is also flexible, since you can invest in other altcoins that have great potential, but as an emergency need, you need to separate the two, do not just rely on bitcoin about everything, make sure that you have emergency funds in your bank or hidden somewhere else, wherein you can easily liquidate it, though bitcoin can easliy be converted to fiay, in times of emergency, you may not have any access, and from the start, before you venture into investing, you need to secure your emergency funds first, since bitcoin is volatile, when the time you cash it out as emergency funds, the value might be lower than you expected, and may turn out negative on your part.
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?
Yes. What if the person that you love is in danger where you can find the money? If you have a bitcoin it can saves you from trouble for example you don't have any money on your pocket and you only have an account in your bitcoin you can turn it or convert it into cash.
Based on my own opinion bitcoin can also be your savings today or in the future but you can not hold that price will be stable because it's a digital currency that we do not know if it will increase or decrease its value, in the emergency Funds are not in my favor
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 your money to invest bitcoin, for emergency needs. you prefer save it in banks. because the bitcoin is long term investment.
yes, I think bitcoin can be a savings and emergency needs. not only that, bitcoin can be your retirement savings.
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.
Definitely, you should invest a small amount of money if you're just a beginner.Make a wallet, buy 0.05-0.1 BTC and try to follow the trading trends on the market. Study BTC's volatility, try to learn the cyclicity of its ups and downs. Follow the major political and financial news - and yes, if you do it this way, cryptocurrencies CAN be an investmnent.
With Bitcoin, everything is possible. This is a new technology that has never been used anywhere before. It is not worth investing all your savings here
For me its not a good thing save all your money on bitcoin. Especially in case of emergencies wherein you could quickly withdraw any amount you needed but what if you withdrawed it on the time that bitcoins price is lower than that day you deposited some in your wallet. Its too risky since its price is suddenly changing. Though we cannot say that the price of btc is lower than your entry price but my point is, we must learn to balance our money and don't put it in a place wherein we can lose it in a matter of time. But when the price is much higher than your entry price, consider it as luck since you gained so much from it.
That possible but the only problem is when you invested in bitcoin at high price then a emergency came you cant sell your investmeny at low price. It will only give you loss. So it is better to have another savings other than bitcoin or having cash on hand. So that in case of emergency there is money you can use.
Yes it is possible, so far i earned a little money to put in my savings in the help of bitcoin. I bought a coin from the past and i sold it by bitcoin. Then i exchange into fiat, some of it i put it on my savings and some is on hand so that i have a money in case of emergengy and i need cash for daily expenses.
me as a student i merely agree to that for now i'm trying to save a lot for future purposes maybe i cannot use it now but soon, it will worth the wait.
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 your money to invest bitcoin, for emergency needs. you prefer save it in banks. because the bitcoin is long term investment.
If to save by BTC I think not good, because BTC is too risky price, btc prices fluctuate frequently. No one can predict the future price of BTC. So invest in BTC when it is profitable to turn to cash to hold. Should not hold BTC for too long.
Bitcoin is quite good for savings, but don’t you have a bank account? I’m asking cause you said you’re using a piggy bank for savings🤔 by they way I don’t see much difference between bank and Bitcoin when it comes to withdrawal, though Bitcoin will take much time cause of the process you will go through to exchange it to fiat.Another thing is that if you leave your money in bank, it stays at the same amount as you left it, but if you’re using Bitcoin, like you said in time emergency, it might be at a lower rate.
I think bitcoin as a savings, and emergency needs not possible ' i would say yes for savings for long time. but for emergency need i think its a no sometimes bitcoin not in a good value so i think for saving it would be ok coz you can w8 for so long, but emergency need is not.
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?
In my own perspective, if yoi save your bitcoin on your own it is possovle that you can use it in the emergency use. You can pick it up anywhere and anytime. You aslso need to divide your money sovthat you can invest the half of ita nad save the otger so that yoh may use it ib case of emergencies. You only need to be wise jn using your bitcoin so that it will ve mre valuable, especially in emergencies situatiaons.
In my opinion it is a good idea to collect bitcoins and save them until the price is really great. I am going to do like this and expect to earn good money. I like the idea behind the crypto and think this is a currency of the future
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?
All different needs is available anytime with bitcoin weather you invest your bitcoin to any different Flatform or Crypto Currency is available anytime and cash out if you want money to buy something, that's is a good service of bitcoin not only in emergency needs but anytime if you want to convert into fiat money all of them are always available to cash out.
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 f you want to use your saving money for emergency needs , You should save it in banks, dont save it in bitcoin. The bitcoin is long term invesment.
Considering bitcoin investment as emergency money doesn't seem a bright idea because this will mean that once you need the money you should sell it a market value and sometimes it could be below your entry point.
The exit strategy is a long time movement because you must wait for the right price to convert your money into fiat so you won't be able to have access to your funds right away.
Emergency money should be in fiat.
The exit strategy is a long time movement because you must wait for the right price to convert your money into fiat so you won't be able to have access to your funds right away.
Emergency money should be in fiat.
Yes i agree in this thing because the bitcoins are not stable so the price you will hold can either go up and down so whenever you need money and the price of the bitcoins into the market are on their lowest then that is a bad time to sell it because you will lose a lot of money but you really need money so you will sell it anyways so that is a bad decision. We better have a lot of savings and better stick wil cash savings when it is in Emergency for us to have a stable amount. Bitcoins investment is not meant for Emergency thing but you can always
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