Bitcoin as savings, emergency needs possible? - page 5.

Gondwanaland

full member

Activity: 354

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?

Yes, ypu can use your bitcoin savings for emergency use. It is proven for me because there's a lot of time that happened it ro me. Uf ypu have a savings you can used it for emergency needs because you have your own money thay can use without any hindtances that nught happen.

makolz26

sr. member

Activity: 714

Merit: 254

Quote from: jeluhtajem on May 17, 2018, 10:57:49 PM

What you do is very appropriate. If you set aside your money and you tube yourself at home. Maybe you do not get the profit. If you are heading to a bank, it may need the requirements of the bank. Buying bitcoin is the right move for you. With bitcoin you can make a profit. You can also trade bitcoins. If you interest. You can also search for jobs that can supplement your income from some ICOs in bitcointalk or bountyhive forums. So your decision is right for me. when your economy is very emergency, you can easily exchange your bitcoin into fiat money.

Setting aside is very important, I am doing it for me to at least securing the money I do have, I am also separating not only my money but the coins that I am handling, separate wallet for emergency purpose, savings and for long term investment for me to have money when I got retired already.

jeluhtajem

member

Activity: 252

Merit: 10

What you do is very appropriate. If you set aside your money and you tube yourself at home. Maybe you do not get the profit. If you are heading to a bank, it may need the requirements of the bank. Buying bitcoin is the right move for you. With bitcoin you can make a profit. You can also trade bitcoins. If you interest. You can also search for jobs that can supplement your income from some ICOs in bitcointalk or bountyhive forums. So your decision is right for me. when your economy is very emergency, you can easily exchange your bitcoin into fiat money.

bintangkejoraku

jr. member

Activity: 262

Merit: 1

https://saturn.black

I myself make bitcoin as a savings. right now I'm saving bitcoin in the hope that bitcoin prices become very expensive in the future.

andrei56

sr. member

Activity: 840

Merit: 254

Quote from: Dr.Osh on May 10, 2018, 12:33:45 AM

Quote from: andrei56 on May 09, 2018, 10:45:06 PM

Quote from: thetruth123123 on May 08, 2018, 08:47:01 AM

Right now I would be more supportive to that idea, than the time, when Bitcoin was falling and falling again Wink

It is good to have few

But that is the point when bitcoin was going up nothing has changed, bitcoin was still as good as it has always been, and then it started to fall but bitcoin was still the same bitcoin, what changed was the amount of money that people where willing to put into bitcoin, and if you want to save in bitcoin this is something that you will have to deal with.

you are right. if you keep the money you have in the form of bitcoin, there are only two possibilities, the money you have will decrease, or will increase. it is the real thing. although bitcoin is great for long-term savings, but do not use the money you need for this.

Correct, bitcoin has basically two ways to be used, the first one is to buy bitcoin and then use it immediately, you are using bitcoin as a currency that way you are avoiding to lose that much money due to the variation in the price, the second way is to use it as an investment and you are looking for the opposite, you are looking to take advantage of the volatility of the market and make profits that way.

Bacotan Bae

sr. member

Activity: 504

Merit: 252

I suggest not to rely on bitcoin to meet emergency needs, we all know and understand that bitcoin is volatile so if we sell at emergency then we will get a cheap price.

lelangsabun

newbie

Activity: 140

Merit: 0

bitcoin savings is a great idea, but for the emergency one i think still prefer saving some in the real money , because fiat money are recently used in a common economic payment and many more of course, so fiat are still better for the savings anyway

kimochidesh

sr. member

Activity: 518

Merit: 257

Bitcoin as savings is a good idea but only for general savings. It’s actually a bad idea for serving your emergency needs because during such needs you need urgent money. This means that you have to sell your Bitcoin without considering its price. So you might have to sell you Bitcoin holdings even if its value is very low or it causes you some loss. So think about it.

BitcoinPaw

sr. member

Activity: 588

Merit: 250

At my opinion bitcoin is extreamly bad for any savings, you never know what gonna be with price in 1 month because everything changes fast but want to save money in bitcoins? Think twice man.

Mr.John19

full member

Activity: 350

Merit: 109

Yes of course bitcoin can be saving. This a smart thought but you require a backup funds’ assets of the crisis additionally because the bitcoin value changes it is too volatile. Imagine a situation in which there is a crisis, and the value of the bitcoin is on the low segment you will change over it. If you know, you would the debt be able to your related family? If you would be wealthy, think of saving and additionally as getting.

d0flaming0

sr. member

Activity: 402

Merit: 250

bitcoin as a saving for emergency purpose is not a bit wiser, to think that most investors think of it as a store of value and must be keep for long term as pure savings, i guess you will only regret selling it. If possible you can have your own currency as savings intended for emergency purposes, and i think that might be wiser.

dario.93

sr. member

Activity: 381

Merit: 250

We definetly should not interprete a long term investment i.e the bitcoin as the money that we could use in case of emergency since it is not easily convertable into regular money and much more simple to access your savings in bank instead.

BlueStackz

legendary

Activity: 1204

Merit: 1028

Quote from: fight-T on May 14, 2018, 08:38:25 AM

Instead of investing in a different field with long periods of time and relatively low returns you should invest in bitcoin. Bitcoin is more like a savings account, longer term and a big profit for you.

It is a fact that bitcoin is truly akin to some good bank saving account that pays you off more than what you really expect. It is for sure confirm that you are going to have some decent profit but it totally depends on you that how you are going to play with it. You need to understand those crucial moves and times which can get you edge over others and make you richer. You need to hit iron when it is red hot.

tumokatok

member

Activity: 392

Merit: 10

Quote from: fanBit101 on May 11, 2018, 12:32:33 AM

Sure, that's my idea. The crypto market and the blockchain industry will be the trend of the future. That opens up many opportunities for you to make a profit by investing in crypto as a long-term way of accumulating an effective savings. If you give up savings and deposit at the bank, it is completely unprofitable and effective. Instead, you can invest in bitcoin, eth. Long-term safe options that have the potential for significant growth in interest rates.

if we keep it as well as for investing in bitcoin and we can also easily use it if need money for emergency situations, and it will be more profitable. I agree with you, bitcoin can be used as a savings rather than keeping it in the bank

zhanyiguai261315

member

Activity: 392

Merit: 10

Sure, if you save some BTC for the future! This is a very good plan!

Because BTC is sure to rise in the future, BTC's savings will provide financial security for your future life!

Kisanaq

sr. member

Activity: 700

Merit: 277

Bitcoin is a very promising investment, another thing that makes me like bitcoin is currently supported many exchanges that can swap to fiat or vice versa in minutes or at most 1 hour, this is of course bitcoin is fit we made emergency needs.

yanlap

hero member

Activity: 672

Merit: 500

Quote from: Ondre on May 16, 2018, 02:22:34 AM

I do agree that Bitcoin is not just an investment but as savings. Because you can not just easily spend outside unlike fiat money.

It is possible to use Bitcoin in the time of needs and emergency but there are several conditions you have to understand it. The value of Bitcoin is volatile that is it sometimes goes up and sometimes goes down. Paper money on the other hand is a bit consistent in the value. But yeah Bitcoin can be used as money in emergency as we have innumerable BTMs installed across the Europe which gives you cash in terms of Bitcoin. And what good would it be if the hospitals start accepting Bitcoin.

muratdur

member

Activity: 182

Merit: 10

Yes, why not. but that saving can not be very stable in prices and it can be dumped low or even die oneday, so you decide by own

Glorious04

full member

Activity: 392

Merit: 113

Goodluck to your new found investment dude. Well, not everyone finds it profitable anymore for short term investment. If you need your money in times of emergency your will have to sell your bitcoin prematurely and it you will either lose or gain so it is not so sure for a profit, for long term maybe. I do participate in bounty campaigns for additional income.

poli.isk

newbie

Activity: 90

Merit: 0

you can buy just for investment, or for storage, if there is no option where to invest money or where to hide, you can put in bitcoins. sometimes the percentage can be deduced

Topic: Bitcoin as savings, emergency needs possible? - page 5. (Read 2091 times)