Topic: Bitcoin as savings, emergency needs possible? - page 16. (Read 2091 times)
In this market everything is possible. Even hacking bitcoin under certain conditions is possible. It is necessary to invest the money that is not a pity to lose
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?
As for me, I think it isn't a smart idea to have bitcoin just for emergency purposes because we must all know that it is hard to earn bitcoin these days. It is still better if we'll just have another savings except our earnings in bitcoin so that we would have something to use in case of emergency.
Cryptocurrency was specifically created for the internet and has been designed for online security. But as the years are passing by, more possibilities have been created like investing it and others wanted to do some trading. In terms of emergency, well here in my country I can easily make the transaction and can easily withdraw whenever I needed. So, there are so many options that we can actually do with crypto and its up to us on how we make it grow.
I dont think that it can be considered as "emergency needs"
Take in consideration that if you are dying, and you need some money, what are you gonna do? How are you gonna convert your bitcoins to fiat in less than an hour?
Take in consideration that if you are dying, and you need some money, what are you gonna do? How are you gonna convert your bitcoins to fiat in less than an hour?
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?
As for me, I think it isn't a smart idea to have bitcoin just for emergency purposes because we must all know that it is hard to earn bitcoin these days. It is still better if we'll just have another savings except our earnings in bitcoin so that we would have something to use in case of emergency.
Of course yeah, this is the one of a way that's a good way to do that. I think this is indeed a technologies advancement that really should be utilized as well as possible, loss if not close to bitcoin.
I think these all things characterize this currency. We can use both savings and the need to save our money from inflation. How do you use this currency? At the moment, this is a savings for me.
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?
Well I considered also a bitcoin is kind of savings and investment. its very idealistic. because while you keep on savings this bitcoin it can also gain profits. And incase of emergency you can easily cash out without any participation for others approval that causes delayed in processing transaction.
Bitcoin is not the safest "piggybank", as it supported by nothing and has no value of itself, if in case of an emergency. So I'd invest in gold instead. 
For me, bitcoin is basically an investment for now considering it is not allowed globally because some countries banned it. I consider it investment for a long period of time, it is also considered as savings, or even retirement fund or emergency fund in the future. In lieu with this, I also have my separate fiat saving because you will not determine when woould its price drops. All this can be possible if the value of the bitcoin is rising obviously.
In my country it doesnt take a few days but a few hours. I transfer the bitcoins to local exchange takes 1 hour. I sell and transfer the money to my bank account. It takes 1 or 2 hours. And that is it. I have my money in max 3 hours.
Yes maybe for emergency needs. Bitcoin at this time the price is still somewhat below and not a good time to sell. If for emergency or urgent needs then it must be sold. Although prices are down or up. It has become a certainty to sell it when needed.
In a similar case, I was a month ago. I neede the money for some urgent spending and we all now where the market was back then.
Believe me, that is very frustrating to have to sell your coins just because you really need fiat. Happily for me that I found someone to borrow me the money instead of selling under the market value.
and it happens at the moment, i need money frustrating me and have to sell some bitcoin at a price that is currently cheap enough there is nothing i can do because nobody lent me money, Damn it! Believe me, that is very frustrating to have to sell your coins just because you really need fiat. Happily for me that I found someone to borrow me the money instead of selling under the market value.
Yes I think bitcoin can be used as savings, because for me bitcoin is an asset for the future. But if it is used for something that is an emergency is a risk, because the value of bitcoin can not be stable, And if used for something emergency we could lose or gain.
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?
not what you think mate if you need your money back fast you need to save that in your bank crypto is not bankinvest and hold study your chart till your see your gain that what we do here mate.. I'm very sure of something when you need your money most may be your time of loss
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.
You are totaly right bro I agree with you. Bitcoin as savings at time of emergency is not a good idea because we all know that bitcoin is not totaly adopted in some establishments and organization like hospital to use it as mode of payment so before you can use your bitcoin is you need to exchange it to the exchanger and one of the problem from this is the price of bitcoin is changing anytime so its really not advisable to make it as emergency savings.
Yes it is true to say this bitcoin as a savings or can be called as long-term investment that one day we need time can draw the results of the bitcoin we have and we tube from now on.
Bitcoin is an investment rather than a savings, if we say savings, it can be use once there is a need for emergency however if it was bitcoin you can not immediately get specially if you were holding it or if the price is very low you can not get in times you need it urgently.
Yes, that is supposedly an investment not a saving or for emergency money. From the very first start of yourg journey in bitcoins you should know its differences you can't jump on it without that knowledge and understanding in mind what it is. Maybe someday you need money but you save in bitcoins as you know that it was a savings or like a bank. Learn first and nevery put your emergency funds into this currency.
You can do it both and it is possible, I convert some of my satoshi/bitcoin into fiat money especially when I badly need it and sometimes when I meet my desired value then I don't have to think twice to convert . It's always up to us what we gonna do to our coins and we should not regret but as of now Im still holding and make it as a savings.
Bitcoin is an investment rather than a savings, if we say savings, it can be use once there is a need for emergency however if it was bitcoin you can not immediately get specially if you were holding it or if the price is very low you can not get in times you need it urgently.
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 personally agree with your thoughts mate.You can put some of your money in your wallet for investments and savings at the same time.That's what also I've been doing right now.As the BTC price increases, you can earn profit from it but on the contrary you will also experiences losses when the price is down.But we know that's the risk to take inorder to become successful.Jump to: