Yes I like to save my extra money and I think converting it in Bitcoin would be a great idea for it.
I am saving my money at the same rime the money that I saved could gain profit if the Bitcoin price goes up.
And also I could hold it until I need some Fiat .
Topic: Bitcoin as savings, emergency needs possible? - page 21. (Read 2091 times)
More precisely as long-term savings.for the daily needs we can take from formal income.
Bitcoin as an additional investment can still be used as future savings.
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, if you want saving for emergency needs you prefer save yoir money in banks. Bitcoin is asset, it is for long therm.
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 I consider that thoughts because I have already used bitcoin many when I had an emergency. But that was when bitcoin price was skyrocketing. We all know what was the highest that bitcoin reached in terms of price. That time I just focused only in earning bitcoin and I set a side the altcoins. But now, as we can see that bitcoin is still not recovering so that's why as of now I can't use my bitcoin as my emergency because I want to hold it and wait for the price of it to rise up again.
Saving your money is much safer but no chance having a profit so putting your extra money by investing on bitcoin is a good idea because you have chance to earn a lot that can be useful for the future mostly in emergency matters but there's a risk also when bitcoin price drops because we all know that bitcoin is very volatile.
Yes it's better to invest in Bitcoin, there is a possibility that you earn a lot of money here. But consider your Bitcoin as your fund for emergency purposes I think it is not a good idea. Because you can not change or convert your bitcoin or any kind of coins into real money instantly. In case of emergency you can not encash your money so easily. There is still a process to follow . And what if the time that you need money is the time that the cost of different digital currencies is at the lowest price. You probably have a regret to sell or trade it on the market.... Due to possible losses.
I disagree if bitcoin is used as a sudden savings, if it requires fiat, should not be bitcoin targeted as a sudden solution for fiat exchange, bitcoin is a future savings and not a sudden savings
yes, you are right about this.I also disagree with the opinion that bitcoin is a sudden saving. I prefer to call bitcoin as a long-term investment.
It's a good thing that you want to use bitcoin in a good purpose, however, some banks might not agree to deposit your money to them if it came from bitcoin. Much better if you'll withdraw a certain amount and keep it somewhere safe so you'll have something to get in times of need. Just make sure that every time you sell bitcoins and you withdraw it, you'll be able to keep some for emergency purposes.
No, I think that putting your savings in investment in bitcoin and simply cashing out when needed has a high risk; you may be situated to a low value and lose money.
I would say just mark a percentage on your income or allowance to put off as an investment but do buy only buy it when it dips.
I would say just mark a percentage on your income or allowance to put off as an investment but do buy only buy it when it dips.
Using Bitcoin as your emergency funds is really risky. If you need a large amount of money and as soon as possible, there is a possibility that if you sell or trade your BTC, you won't get your desired amount because of the low trading equivalent. But using BTC as savings is not necessarily wrong, you only have to be careful.
I disagree if bitcoin is used as a sudden savings, if it requires fiat, should not be bitcoin targeted as a sudden solution for fiat exchange, bitcoin is a future savings and not a sudden savings
yes, you are right about this.I also disagree with the opinion that bitcoin is a sudden saving. I prefer to call bitcoin as a long-term investment.
A lot of people are using Bitcoin as an investment, well, that is right but as an investor I've experienced a lot of things that is happening in my life as time progresses and there are times that we need to deduct some money out of our investments to use it in a certain way. It is not a sudden savings, we are planning to hold it until it pumps, yes but while time progresses can't predict when will will we be needing a money when our fiats short out.
I disagree if bitcoin is used as a sudden savings, if it requires fiat, should not be bitcoin targeted as a sudden solution for fiat exchange, bitcoin is a future savings and not a sudden savings
yes, you are right about this.I also disagree with the opinion that bitcoin is a sudden saving. I prefer to call bitcoin as a long-term investment.
Based on my experience, a month ago because of emergency situation. I enter into the situation of selling all tokens that I have to have a cash right away. I don't want to sell my tokens but I need to, if I have a chance or other resources that time still i will hold my tokens. But after that scenario and still I have money I invest my money and buy some tokens again and right now Im still holding to my tokens and hoping for the best in the futre.
Yes I also agree with you because if we invest in this bitcoin then we will get big enough profit than save it in bank or in our berangkas, and I agree about better investment in bitcoin and we can take when we need if we desperately need money.
Bitcoin is definitely an advantage. It could be used as emergency savings. It's actually better (for me) to invest it in bitcoin instead of just placing it in my piggy bank or in my savings account. Because it'll increase or there may come a time that its value has tripled the amount when you first invested it there. Plus if you do this, and you tell your friends, it would attract more users and more friends, plus exchange of knowledge and awareness for investing.
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.
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.
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?
Savings are classified into different allocation.This is on how i do treat my savings funds on which one side is allocated for emergency purposes and other side is really for long term purpose which those funds shouldnt really be moved no matter what since you do have already emergency allocated funds then you will not able to pull out the other half.Since we do talk about bitcoin then it would be an another story.Making up as a savings isnt bad but it isnt really right to treat it as an emergency allocation.Why? what if you invested becomes negative since the market is down? you would mind up to get funds? for sure you would hesitate. More precisely as long-term savings.for the daily needs we can take from formal income.
Bitcoin as an additional investment can still be used as future savings.
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, in some perspective bitcoin could be used in times of emergency and a form of savings as well. It's a good strategy indeed, because in bitcoin there is a greater possibility that what you have invested would be doubled up. Which means you could save up more than enough for your future. And I do agree that it would be easier for you to convert it in cash unlike in banks wherein there is a long query plus it would take days to be process. That is why, we should invest more with bitcoin.Jump to: