Topic: Bitcoin as savings, emergency needs possible? - page 3. (Read 2065 times)
It all depends on how badly you gonna need the money because it definetly takes a while to get the money you so badly need in cash so that may be not the best option in case you are in financial trouble.
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
if bitcoin use to emergencies think, it very unsuitable.bitcoin volatility make our asset value change minute by minutes.for example if you want withdraw you money when in emergencies condition, meanwhile its value dropping.is it acceptable for us?
Bitcoin is indeed a very good idea to put in your money rather than saving it in your bank accounts. It's risky but it's profitable in any way and is always there to save your day in times of emergency and needs. Not only that, bitcoin can eventually change your life and can even make you a wealthy person.
Bitcoin, like savings, that's a great idea. But I would not recommend 100% savings to store in bitcoin. You need to diversify your savings. It can be other cryptocurrencies and fiat money.
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?
Yep, Bitcoin can serve as savings for anyone who is looking for a way to save a money that doesn’t have to be spent. But mind you, saving money with Bitcoin is very risky cause the price can go down at any time, especially when you least expected it to happen. So if you are going to do this, you must be ready to bear the loss that follows. Well, the good thing about Bitcoin is that if you can have patience for a long time, as they do say… the patient dog eats the fattest bone.
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
if bitcoin use to emergencies think, it very unsuitable.bitcoin volatility make our asset value change minute by minutes.for example if you want withdraw you money when in emergencies condition, meanwhile its value dropping.is it acceptable for us?
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?
But you must know the risk also of having a high volatility I think you must save some of your money in the bank for the emergency purposes and buy some part of bitcoin to lower down the risk also but the good part is buying bitcoin is proven for many purposes and it helps many people to achieve their goals, buying bitcoin is good for long term hold like you said it can also used it in emergency matters maybe you can used the other part and save some to regenerate a profit again because it is very useful for the future. 
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
if bitcoin use to emergencies think, it very unsuitable.bitcoin volatility make our asset value change minute by minutes.for example if you want withdraw you money when in emergencies condition, meanwhile its value dropping.is it acceptable for us?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?
All aspects are possible to do, because bitcoin is form of thing that all your needs is actually carry to serve better, such as; investment, savings like banking, holding assets, etc. this is not physical money actually but this is more than enough in terms of efficient, convenient transaction and wealth.
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
if bitcoin use to emergencies think, it very unsuitable.bitcoin volatility make our asset value change minute by minutes.for example if you want withdraw you money when in emergencies condition, meanwhile its value dropping.is it acceptable for us? 
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
Some people have been found using bitcoin as a mode of saving their money or wealth so that they can use it in emergency or in some financial crisis. But I have always mentioned that if this is the case, always back up your bitcoin investment with some physical one like gold or cash because sometime the crypto market is soaring and at that time, you cannot take any advantage from the market at all. 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.
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.
We have an app here in the Philippines that can immediately convert your btc's into withrawable currency. All though the price would be much lower.
And I agree with you, taking btc's as emergency money is not a good idea unless you there's a nearest public services/business establishment that accepts bitcoin as payment.
I considered your thoughts and you have point! But other than investing in bitcoin i will still consider putting money in the bank. and set aside cash inside ths house for emergency.than sacrifice selling my bitcoint investment for emergency need at low cost!
Bitcoin have a biggest liquidity in market. I think we can make investment and as emergency funds at the same time. But we should remember that bitcoin price always fluctuate and its very risk. Better keep emergency fund on our bank account because there is not much risk
But as far as I am concerned, if you want to stock up on a safe and liquid stock, then we should choose gold. Gold is stable and less risky than BTC. BTC holders have to worry about price fluctuations, security risks. It is inconvenient to hold the BTC.
off course, the bitcoin is the long term investment, you can use it for your needs. today , the price is low. you prefer to hold. you should save a half of your money in bank or gold for emergency needs.
That is what i am going to do in the future , Instead of going to bank and put my money there I will just put it on my bitcoin wallet and wait for the rising of value of it. So I will not worry about the emergency and there is probability that it will increase in my wallet. I am totally agreed in that.
I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.
Some people have been found using bitcoin as a mode of saving their money or wealth so that they can use it in emergency or in some financial crisis. But I have always mentioned that if this is the case, always back up your bitcoin investment with some physical one like gold or cash because sometime the crypto market is soaring and at that time, you cannot take any advantage from the market at all. 
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.
yes it is true once I agree with you. cryptocurrency is not suitable for emergency funds. because emergency funding is needed suddenly while cryptocurrency is very volatile. and I think institutions like hospitals do not accept bitcoin as a means of payment. it may be the only hospital in the country that legalizes bitcoin that can accept bitcoin for paymentThe 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.
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.
yes it is true once I agree with you. cryptocurrency is not suitable for emergency funds. because emergency funding is needed suddenly while cryptocurrency is very volatile. and I think institutions like hospitals do not accept bitcoin as a means of payment. it may be the only hospital in the country that legalizes bitcoin that can accept bitcoin for payment 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.
Yes, it helps in emergency needs and savings. Bitcoin is not just investment it can be savings, because it helps you to conserve your money and at the same time it will gain more. And incase of emergencies, bitcoin has the capability to help you in financial support.
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