Topic: Bitcoin as savings, emergency needs possible? - page 22. (Read 2091 times)
Bitcoin as savings right now is a fearful choice but its still possible if you are confident on whats gonna happen to the market months from now because you really could not determined it within a year when will bears kick in and how much will it get low its a good opportunity to buy but what if you bough higher your saving would be reduce making such emergency fund be a tough decision to have a loss in this matter such emergency fund must be at most liquid channels like a ready cash so you can spend it fast.
Yes, bitcoin may be part of the concept of saving or investing business. Depending on the perception of each person. With the convenience of transferring and paying quickly without having to spend time like a bank. You can take advantage of this saving source anytime you want.
Indeed there are still many people doubt about the existence of bitcoin currency and they feel afraid to invest in it. According to them bitcoin will not last long as many countries still have not legalized about bitcoin currency and its price up and down. While I personally bitcoin is the best way to invest and saving the future.
You can keep bitcoins as savings because it can be easily converted in cash and withdrawn. But what about the price volatility, that can be a huge problem.
I think no matter how high volatility is seen in Bitcoin if you buy at right time and with proper patience and knowledge you will always find yourself in profit, no matter how bad is the crash in the market. For instance, people who bought in November to December last year might not be happy as Bitcoin is even below $10,000 because the bought in FOMO and without proper knowledge. On the other hand people who bought in the recent months will be happy as they bought in dip and at the lowest point of market, securing their future.
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.
You will feel dizzy and do not know what to do when you save bitcoin as a saving that will be used when the emergency situation. What if when you have an emergency and need bitcoin for that but bitcoin prices are falling even dropped. You'd better save some of your money in fiat form and use it again in part to invest in bitcoin as long-term savings. do not hang bitcoin as an alternative to the solution when in an emergency because it is very risky.
savings. From time to time as other members done like holding and selling it in the right time will do short term or long term investment.
Still if your purpose is for emergency needs I suggest not to store it in your bitcoin wallet, better avail a life or health insurance for you to make it sure, because bitcoin in our country is not acknowledge yet by the government and banks so I'm afraid if they are going to hold your money.
You can keep bitcoins as savings because it can be easily converted in cash and withdrawn. But what about the price volatility, that can be a huge problem.
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,bitcoin is good form of savings,if you put your money in the bank,there are are only few percent that add to your savings unlike in bitcoin.It is more profitable than saving in the bank and you can still used it if there is emergency cases.
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?
it is impossible if you saving your many in bitcoin, you still need it to fulfill your emergency needs. I think you prefer save your money in banks.bitcoin is invesment for long therm.
You shouldn't just depend on bitcoin that it will match with the date that you need it. Bitcoin's value is decaying and you can't control that, don't let the chance of getting profit be gone in just a short time because bitcoin's price is so unstable. Like what happened this year, look at the drastic price drops. It's horrible and you might lose profit if you keep on hoarding and not selling on the right time because you'll lose a lot if you do it this way.
To me that is the way out of the current system trap. If it does not go well, but if I do have a savings to live and can help good people in this world. Some people have put their living expenses into Bitcoin, so in that sense it's a savings account for people. I myself have put a lot of my net worth into Bitcoin
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.
And each people certainly have their own purpose about the response to their investment, it's for a savings, an emergency, source income, or just for the other side of the income, essentially that's a way that can provide more benefits so far till nowadays especially for savings given the price movements always still can be moving to the higher price.
And each people certainly have their own purpose about the response to their investment, it's for a savings, an emergency, source income, or just for the other side of the income, essentially that's a way that can provide more benefits so far till nowadays especially for savings given the price movements always still can be moving to the higher price.
how ya i think invest in such a business, you must be keen in seeing opportunities and do sell and buy in the right time if you want a big profit, unstable btc prices like bank interest does not allow you to sell at a good price according to the time you need, so in conclusion I do not agree with your opinion
I advise separating for investment, and emergency. well, we can not use bitcoin as a tool to help us when something unexpected happens. always prepare cash for it, because it can be a fast way.
how ya i think invest in such a business, you must be keen in seeing opportunities and do sell and buy in the right time if you want a big profit, unstable btc prices like bank interest does not allow you to sell at a good price according to the time you need, so in conclusion I do not agree with your opinion
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.
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.
That's true as we are in a volatile market the prices may change in any moment. We should sell our coins at the best price and save it in the bank. Also, have a separate money for emergency situations. 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.
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 yet, bitcoin is impossible for emergency needs. you prefer save your many in gold for emergency needs, it is safe and you can take it anytime. bitcoin is long therm invesment. I think..
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.
It is true that I agree with you that emergency funds should be in fiat money. Why? Because if for example there is our family who are sick and must be immediately taken to the hospital so if we save the emergency fund in the form of bitcoin we will bother selling bitcoin first and then can get the fiat money. So it's best to have two savings one for emergency funds in fiat money and investment savings in bitcoin. 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.
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?
Oh no, today you prefer save your money in banks for emergency needs. bitcoin is long therm investment. belive it.
I agree with saving in your bitcoin for investment. Holding it until the price is high is good because we all know that bitcoin is for long term. But saving it for emergency purposes is not a good idea, because since it is an emergency, you will sell it no matter what the price is because you dont have a choice. You should save cash or fiat for emergency purposes, not with coins. Saving bitcoin and hold it for a long time is good, but not for emergency purposes.
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