Bitcoin as savings, emergency needs possible? - page 19.

leavolnhals

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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 your idea is pretty good. Because the bank's recurring interest rate is too small, it does not bring too much profit to you monthly. So investing in bitcoin or some periodically profitable altcoins is a wise decision.
Because this is a new market, so there are plenty of altcoins that pay a very high monthly interest rate that can be up to three times higher than a bank.

Lwtelencio

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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 bitcoin is also good for saving money but don't let your emergency funds belong to your bitcoin saving, just save always a fiat money for your daily needs and for emergency needs.

Apes

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Quote from: Xavofat on April 16, 2018, 05:11:48 AM

This is basically the same question as "should people put all of their savings into Bitcoin", but it happens over a longer timeframe. Obviously the answer is no. You should never put all of your money into just one thing, especially not something as notoriously unstable as Bitcoin.

The only emergency that it would potentially be good for is a collapse of your entire country's monetary system - but the best thing to have in those circumstances is an asset like gold, which more people would be likely to accept.

In most emergencies, you'd be better off having fiat, since you can spend it easily and it tends to retain most of its value.

Yes, I agree with your opinion, but the method I have done has not run like you do .. the use of bitcoin for now just to meet my needs and I only some that I take to exchange for money if indeed I really need it and if not, i will keep holding it .. in future i will try to invest and do your method .. Wink

phpartisanmaster

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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?

Saving cryptocurrency is really good because the price is keep on increasing as the time goes by, there are a lot of people as well who are working on the corporate world and has a business as well and still they invest on bitcoins because of the profit that they can earn.

weblaraveluser

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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 am one of the person who save cryptocurrency because the price is keep on increasing in the market and i will just cash out if i really need the money for a very important reason.

cahbagus555

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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?

Its good idea but you forget something that bitcoin or cryptocurrency price movement is very high and its very risky. Its better if we split between our saving for emergency and investment for our future

Bitcoinjheta

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Quote from: Gens09 on April 26, 2018, 07:49:29 PM

Quote from: burakdat on April 16, 2018, 02:40:28 AM

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?

You are not aware when and where emergency will happen so better to have a budget for some emergency and budget for bitcoin. The emergency money is stable and those budget for bitcoin you can use it for some saving. The value of bitcoin is volatile, you cannot determine when the value falls or when it rise up.

I agree that bitcoin is an earning savings and will really help you in times of need but not really an emergency fund since we cannot just encashed it to fiat money right away. It will take time and good internet access to do so. Better allocate physical money or any cash equivalents for emergency purposes.

Gens09

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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?

You are not aware when and where emergency will happen so better to have a budget for some emergency and budget for bitcoin. The emergency money is stable and those budget for bitcoin you can use it for some saving. The value of bitcoin is volatile, you cannot determine when the value falls or when it rise up.

dzhan

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Bitcoin's price is very volatile, and usually you need a stable currency for savings and emergency needs. It is better to save your fiat money for emergency needs, and keep holding Bitcoin for the price increasing, because the price is generally rising and you can sell higher after some period of holding.

harizen

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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?

That is not an idea but can considered as one of the "basic purpose" why you must saved bitcoins and it was especially fit for those average joes.

Just keep in mind, that even on loss you have no choice but to sell some on your stash when it really needs on which possibility of getting back to zero is possible since you will only put your "extra money" out from your salary.

But for me, it's not a good idea to just put most of your funds at cryptos. You also need cash on hand as sometimes withdrawing bitcoin to fiat takes time and not that instant depending on the payment options and the service provider itself.

The bottom line, just saved and only used bitcoins for a certain purposes to take advantage of price increase while at the same time having a good backup funds when needed.

megamanexe002

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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 have friends who are not cashing out even the price of bitcoins is rising, they are just always holding their coin and waiting for it to grow, i just do the same thing as well that's why i am getting a lot of profit by waiting for the pump and dump in the market.

prismatica007

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charge your bitcoin when the price goes up,
and leave a saving for any emergency.

jona

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So good to know that am not alone I this life of possibility with bitcoin, I have been help on finical ground positively with bitcoin

aso118

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Quote from: Saveplus on April 24, 2018, 12:40:07 AM

If you invest a lot in bitcoin it can be a good investments in case of emergency you need money in some other purposes.We can get immediately our money with profit to gained.Saving money for future is the best way and bitcoin will helps us but be careful to those scammer of our investment to be gone.

How can you immediately realize profits whenever you want? What happens if Bitcoin was in a bear rally when you need the money. You can still sell your bitcoins and withdraw fiat, but you would be selling at a loss.

acener

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Quote from: burakdat on April 16, 2018, 02:40:28 AM

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 agree with you and I'm actually doing the same thing. Rather than storing my savings in a piggy bank, I invest it in bitcoin where there is a big possibility that my savings might grow. Also, I store my saving in bitcoin for the future of my kids. Rather than putting it in banks, I choose to invest it in bitcoin because I find it more secure and profitable.

Ekim22

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Most people hir in bitcoin earn money to there future and saving money to the emergency needs.

Roboabhishek

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I believe that using bitcoin as emergency money is not a bright idea because it will mean once you need money you will have to sell it at the current market value which could have decreased meaning you have lost money. You should just stick to saving a bank.

slushee

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Why should we save it in btcs remembering that the value may fall than what it was during investment? better to invest in golds

Dr.Osh

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Quote from: Saveplus on April 24, 2018, 12:40:07 AM

If you invest a lot in bitcoin it can be a good investments in case of emergency you need money in some other purposes.We can get immediately our money with profit to gained.Saving money for future is the best way and bitcoin will helps us but be careful to those scammer of our investment to be gone.

can be said that holding bitcoin is like saving your money into gold. maybe when you need something in the future, bitcoin can be the main source for it. but, we know that it takes some process to make bitcoin into fiat.

Saveplus

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If you invest a lot in bitcoin it can be a good investments in case of emergency you need money in some other purposes.We can get immediately our money with profit to gained.Saving money for future is the best way and bitcoin will helps us but be careful to those scammer of our investment to be gone.

Topic: Bitcoin as savings, emergency needs possible? - page 19. (Read 2065 times)