Bitcoin as savings, emergency needs possible? - page 24.

themughni

newbie

Activity: 65

Merit: 0

Quote from: burakdat on April 16, 2018, 01:40:28 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 bitcoin for investing not saving. You need along therm to ger earn. If you need money for emergency needs you prefer save your money in banks.

Kittygalore

member

Activity: 868

Merit: 63

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.

therozaq

newbie

Activity: 56

Merit: 0

Quote from: burakdat on April 16, 2018, 01:40:28 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?

No, bitcoin for investing in long therm, you can saving in bank for fulfill your emergency needs.

isetter

newbie

Activity: 112

Merit: 0

Quote from: burakdat on April 16, 2018, 01:40:28 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 do not think Bitcoin is thrifty. As bitcoin prices increase, we will also benefit from increased bitcoin. But if bitcoin goes down or disappears. All of our money will go away with Bitcoin

beej

full member

Activity: 476

Merit: 108

I think with bitcoin it can also function and can be applied to such events. I believe
bitcoin is a very good all around financial solution. It's accessible and can easily be
converted to cash. With emergency situations, actual money is very essential no matter
how much crypto you have invested or procured, it's of little help unless medical
facilities who give medical care and attention accepts cryptocurrency. To me bitcoins
are effective short term and long term investments, as long as you hold bitcoins and
prices are commendable. I have every reason to use and spend it in times of
emergency situations.

Fear

full member

Activity: 364

Merit: 100

Sure, I don't think thats good idea use bitcoin for emergency, since it very unstable in the price, very long time awaiting for transactions and high feest for anything you do in it

cluit

legendary

Activity: 1176

Merit: 1016

Man if you invested when the price was $6000, you would have earned a good amount of extra $2000 profit on top by now. But there is still no problem, the price as of now is about $8000 and I don’t know how much you planned to invest right now. Investing small amounts is not really good, unless you will do so with coins like Ripple and Ethereum.

If you insist on investing in Bitcoin, there is no problem. Bitcoin is the best and the number one cryptocurrency in the market. Just try to invest at the right time if you’re investing a small amount of money.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: xuan87 on April 16, 2018, 11:42:03 PM

I think Bitcoin could be used as saving and as investment, but I prefer saving and investment are being split, because an investment can cause losing money, and if your investment failed at least you still got your saving, and I don't think BTC is suitable for emergency usage,because not all places are accepting btc so it still need to be converted, and some emergency case can't wait

Bitcoin is more of a future investment and that could serve as an emergency in the future as well anyway. However, I have been putting a bit of my savings into bitcoin and every savings most of the time can actually be useful for emergency.

The thing is since we have so far considered it more of an asset for investment than normal currency, it clouds ones judgment on considering it as savings for emergency. However, I can remember how I have withdrawn my bitcoin into fiat few times anyway as a result of emergency, so one way or the other, it still serves that purpose.

vv181

legendary

Activity: 1932

Merit: 1273

Putting an emergency money into a highly speculative asset does not seem a bright idea. Well, the good things are you can get the money instantly without waiting as you said, but the volatility of the price is worth to consider.

Edraket31

hero member

Activity: 1190

Merit: 511

Quote from: airdagon on April 17, 2018, 02:11:14 PM

do you equate investments with savings? I do not think that's a good idea, sir.
You need to know the difference of investing and saving.
on the basis of its value investment can change due to following the price trend, while the savings in the base with a very good value, the savings on the basis of how we are running it. the more we save more and more of our savings, and will not decrease as the value of investment. indeed, investation is very profitable, but the risk is also great, unlike the savings there is no risk.

You are right, we must at least separate our investment in our savings, so if we need to separate those 2 things in different wallet it is better as we need to allot bitcoin for saving and one for investment too, and we should at least have saving in fiat as well.

airdagon

member

Activity: 546

Merit: 17

do you equate investments with savings? I do not think that's a good idea, sir.
You need to know the difference of investing and saving.
on the basis of its value investment can change due to following the price trend, while the savings in the base with a very good value, the savings on the basis of how we are running it. the more we save more and more of our savings, and will not decrease as the value of investment. indeed, investation is very profitable, but the risk is also great, unlike the savings there is no risk.

webdevmastery

full member

Activity: 434

Merit: 100

Quote from: burakdat on April 16, 2018, 01:40:28 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 as an emergency money is really a great idea depending on the season because bitcoins has ups and down and we are not assure if the price will still be high when the time comes that we need the money for something.

Wayan_Pedjeng

sr. member

Activity: 913

Merit: 252

Bitcoin savings are not suitable for withdrawal during emergency needs, due to its extreme volatility. For such purposes, you need your savings in much more liquid assets such as fiat cash or bullion.

glowing10

full member

Activity: 812

Merit: 142

Quote from: Lecam on April 17, 2018, 04:56:12 AM

Yes that is exactly what I am doing,
I am putting my excess money in it so I could get some profit from it while I don't need it.

It is the good idea to invest excess money in btc which can make you much richer than your present earning as when btc rises you get multiple time return in a quick time and can cover all your daily expenses . Also you can sell it immediately within no time.

Kizaki

sr. member

Activity: 413

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

I cannot actually give a good feed back about that since most of my money in crypto are from my hard work from trading, joining campaigns, airdrops and etc. If you are going to put your money on bitcoin, you should really make a good entry, buy cheap, hold, or if not, let's hope that when you need money, you are in a good position to sell too.

Dudeperfect

hero member

Activity: 1190

Merit: 534

I am not a great fan of holding money in Bitcoin as the emergency fund because things are not mature yet and you might not see the same price level at the time of cashing out so this would not be a wise decision. In fact, it is not recommended to invest anything in crypto if you can't handle the loss from it. If you are putting $5K in Bitcoin as the emergency fund and if the market falls, you might have to take $2K or $3K when you need $5K the most.

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: Tapyaks72 on April 16, 2018, 08:18:14 AM

Quote from: arin_muah on April 16, 2018, 08:06:05 AM

Quote from: Dheo on April 16, 2018, 07:40:45 AM

Quote from: abas_ir on April 16, 2018, 07:17:00 AM

just use our free money to invest in cryptomarket.although in this market very liquid ,but better to avoid this if we use our saving.sometime emergency case need much money.and if we sell our asset in this condition we could suffering loss while market going down.

Yes I agree, you shouldn't save your money in crypto especially your money that you can use in case of emergency because it can be the reason of losing your money.

that is good point for newbie.do not be tempted by big profits when investing in bitcoin. this is very risky so better use the funds that are completely unused.

Yeah that’s a good idea to keep your saving into investment because if you just put it in a bank nothing will happen to that because bank interest rates is very small. You just let the bank to used it in their own benefits.

Leave it because now saving in banks has become an old idea now people believe in bitcoin only for them it is something very profitable and something every exciting, as if you put your money in bank and hold for long time then you get some kind of emergency, so you will have to go bank and cash out your money, but if you will have bitcoin in your wallet you will not have to go anywhere you can use bitcoin as now bitcoin is famous enough to sue anytime anywhere.

destroyer01

jr. member

Activity: 112

Merit: 1

Never put your whole savings in crypto,the internet could explode tomorrow but yes,it’s well worth putting in what you can afford to lose and compared to the 0.1% you get from a bank savings account,i think it’s worth the risk.

Hui8

sr. member

Activity: 602

Merit: 259

Quote from: ?? on ??

Quote from: burakdat on April 16, 2018, 01:40:28 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?

The profit you gain from your investment can be considered as savings if you encash it and save keep somewhere else like banks. It is a big NO to consider my investments as my savings.

Off course investment is always outgoing money that is either at the risk of getting lost or it is locked down until you break even or reach the ROI. I agree that whatever it is that we get after crossing the break even point is value that we can withdraw and convert into fiat. This would be actual saving. If we do re invest it then it will become the compounding of the same. Better get your savings and be happy with it. That’s the best way to work in the crypto industry.

wewe123

member

Activity: 322

Merit: 11

🚀🚀 ATHERO.IO 🚀🚀

Not only that bitcoin is an investment, it serve as our savings and we can use it as there is an emergency needs , so bitcoin had many multiple functions and uses so that is why we can also rely on bitcoin.

Topic: Bitcoin as savings, emergency needs possible? - page 24. (Read 2091 times)