Bitcoin as savings, emergency needs possible? - page 20.

elghoniya

newbie

Activity: 111

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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?

If you save your money in bitcoin, you can use it for emergency needs. I think you prefer save your money in banks for emergency needs. You can invest in bitcoin for long term, because bitcoin is investing.

qwirtiii

newbie

Activity: 210

Merit: 0

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 guess that is a good idea. We can invest here in bitcoin and if we need a money for our emergency needs we can get in here . So that , we have no problem regarding money. But remember we must be very careful in terms of investment because there's a lot of scam.

Nyenyepogi

full member

Activity: 378

Merit: 100

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?

We are thankful to this bitcoin in some cases happened in our life bitcoin is one of the savior. The we earned from it are growing and with some emergency thing happen this bitcoin is an easy way to get money. You may able to widraw it easily withoit feeling hastle.

jhonvir666

jr. member

Activity: 210

Merit: 1

will be sure as saving the bitcoin should be. Because when we have bitcoin we can handle it as a saving bitcoin and it is reliable but when the emergency is really a problem it is because we do not know when we will be able to buy and not as long as we get my money without an exchanger ... unless I have money always our bitcoin wallet will immediately get us money for our needs everyday. it is possible and usable as an emergency bitcoin wallet.

Jimbo Abu

jr. member

Activity: 170

Merit: 6

(┛❍ᴥ❍)┛彡Axi

I do not agree with that, Bitcoin can not be used for emergency. One reason is that the price is not stable, if there is an Emergency and low price, you will only lose money and your investment will end up for nothing. It is still better to raise money for emergency cases.

Cinemo

full member

Activity: 350

Merit: 100

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?

Bitcoin is very important to all the user. One thing give an advantage of this bitcoin is we can also save moneys through digital wallets. The money we earned from it can used for emergency purposes. Like whag happened to my mother she needs some medication and bitcoin is a big help to me.

COCOMARTIN

jr. member

Activity: 153

Merit: 7

Yes it can help bitcoin with emergency needs, it's good that bitcoin helps us. Bitcoin is more trustworthy than other websites

TheClownSong

sr. member

Activity: 1428

Merit: 251

Thats why banks affraid on bitcoin. Bitcoin can disrupting bank bussiness because if we have bitcoin wallet, its like we have bank account and investment at same time. Bitcoin have biggest liquidity in market and off course its can be our emergency need and we can withdraw anytime we need

maculeth

member

Activity: 714

Merit: 11

BountyMarketCap

if we already put us into bitcoin, then we must be ready for long-term investment and can't for emergency needs. because if there is a fall in the price, are we willing to lose our money? therefore, we must have 50% of our money in the bank as a savings, to anticipate emergency needs.

Hinugh

newbie

Activity: 110

Merit: 0

Quote from: Kittygalore on April 16, 2018, 06:36:09 AM

I think this will be a bad idea, having bitcoin to save you in times of need. When the price increase occurs you have to sell your bitcoin because any time soon it will decrease or decay. If you sell bitcoin when the price increases you will have a certain amount of profit with you but if you wait and sell it when you needed the most you'll see its price already decayed and you are losing profit. Bitcoin is a very good investment but it's pretty risky when you don't sell it right away when you have the chance.

I think bitcoin is good to use for saving for the future not only for emergency. Once we have enough savings we dont need to worry if there is an emergency . We can open an account in the bank for emergency porposes. For the bitcoin is better to use in investment, as business to earn profit or a source of income.

Garret44eza

newbie

Activity: 92

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May be a rare case but it can be possible, if we unfortunately need cashing out during when Govt put a red ban over btcs?

Apes

sr. member

Activity: 1316

Merit: 257

Bitcoin as a Savings, I think it's better and for Savings in the future .. but if necessary and it's sacred it never hurts to wear it and just to resolve the problem does not have to sell it all .. because bitcoin function is to help us rather than complicate or too stingy for his own good .. Grin

laravuemaster

full member

Activity: 378

Merit: 100

When Football meets Crypto

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?

If you are planning to use bitcoins as an emergency income then it can be, just invest even a small amount if you have a few bucks to spare because you will still earn profit because of the markets volatility.

samycoin

full member

Activity: 812

Merit: 100

It will hard to you if you want bitcoin use saving when there's a emergency I think the best you can do is save what you earn or your profit in bank so in case of emergency you will cash out it immediately but if use bitcoin it's hard to cash out if you need it when there's a emergency.

valentine401

full member

Activity: 378

Merit: 100

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?

Bitcoin can be used as an emergency fund, you can hold your coin and wait for its price to increase even more then when the time comes that there's an emergency for you to spend a cash then you can convert it immediately to fiat.

fleecedamp

newbie

Activity: 58

Merit: 0

Its a dump idea as when you need it, you might have to face in queue due to cash out for huge traffic at a time.

gabmen

hero member

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Quote from: PatronRH on April 23, 2018, 07:31:28 AM

Well despite it's volatility the price of bitcoin keeps on rising every year so the amount you are saving is going to go up every year and you are gonna make money in order to cover the value lost due to inflation.

Well that's if you xan afford to stay puy during dry season. It's importsnt that you undrrstand that your savings aren't supposed to be touched unless it's completely necessary. You do that to your btc savings and for sure in a few years you'll have growth in your savings

loyaeskiron

newbie

Activity: 69

Merit: 0

Of course, it is possible, because some people now has a big savings of bitcoin, and mostly of my friend are holding of bitcoin as a purpose of good savings for the emergency used. So meaning bitcoin is also a good assets that makes life used for the emergency needs.

KingdomHearts

hero member

Activity: 896

Merit: 514

Quote from: naidray on April 22, 2018, 03:27:14 AM

Quote from: jimbo77 on April 22, 2018, 01:22:54 AM

This is very possible as one can keep monies on a Bitcoin address and use it only when required, that is in case of emergency situations. Importance here should be given to keeping the address safe by storing the private keys in a secure location while having a steady head not to use it anywhere else but only when required the most. Just swipe your private key online and exchange coin for fiat.

It may really not be a good idea in the real sense when considering the volatility, but when considering long term and in the case where it may actually be an emergency being focused not on the present moment, probably for the case of the future, it is not a bad idea. One thing is that bitcoin can serve both as savings and as an investment which is one thing fiat can never give you.

Still, it would be stupid of someone to put all emergency savings into bitcoin anyway unless he has access to bitcoin ATM or bitcoin debit card kind of 247 supporting services. In some sense I do treat bitcoin as a retirement account. Yes, my plans are long term based.

For this reason only, there is a saying goes on this forum that don’t just put all your eggs in one basket. This really means something to me. You shouldn’t be putting all your savings in any sort of source even they are bitcoins. Reason is, you don’t know when you are going to need them. So you must have separate income or savings for all such emergency areas and scenarios.

PatronRH

full member

Activity: 322

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Well despite it's volatility the price of bitcoin keeps on rising every year so the amount you are saving is going to go up every year and you are gonna make money in order to cover the value lost due to inflation.

Topic: Bitcoin as savings, emergency needs possible? - page 20. (Read 2065 times)