Bitcoin as savings, emergency needs possible? - page 7.

sampalokmix

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Quote from: gharjas2517 on April 16, 2018, 05:55:56 AM

I suggest that you don't save all of your bitcoins. If the market is low, you have to use your bitcoin as an emergency demand, which is very painful. It's a safer way to divide assets into different investments.

I think thats right amd hoarding is not actually applicable anytime given the fact that at some point we have some reason to use our saving for ourselves and for me I dont involved myself here to be rich although that's kinda impressive to think I just want to have some way to earm profit and dont get me wrong saving is also great it jist that there will be a time that you need to spend it.

basty03

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0x1b2d294ab6ca449e34F946B86540cd342cF49100

I think is not good if bitcoin savings and you need a immediate money when there's emergency. I think much better pit in the bank what you earn in crypto so anytime you need a money for emergency you can get it anytime.

Kim Domingo

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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?

Making Bitcoin as an investment for time of emergency purposes is just fine thinking that we are always have the consideration to have money in hand when accident comes since hospital expenses was already taking too expensive nowadays. But I think you must not limit your thinking that Bitcoin can be just used up into such purpose because Bitcoin do have a lot of uses not just for emergency purpose. But it was really a good thing saving up your money for a great purpose because we do not even know when and where calamity comes so it is good to have money saving that is alloted for important and future purposes.

Lady Coquet

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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 believe that it is possible that you can use your bitcoin as a saving, even bitcoin's price sometimes fall down it is still possible to a savings because we believe that the price will go back, then your bitcoin will be a profit and a savings at the same time. So you could use your bitcoin for emergency purposes you could convert it into cash for you to pay.

rimueng agam

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I agree with you, bitcoin is very useful for us in addition to being a currency, bitcoin is also very useful to save the funds you have and one day you can take when an emergency and if you buy bitcoin at a cheap price and when you need the price has gone up then you will be able to profit big enough.

Stephen1989

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You should never invest more than you can afford to lose into bitcoin and you should keep your savings and never put it into bitcoin. Please invest wisely so you don't find yourself in a bind.

kb24mvp

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In addition to being a bitcoin currency can also be a tool for long-term investment like gold, you can invest in bitcoin or just keep the money you have. In this bitcoin and at some point you really need that money and you can take by selling bitcoin you have.

ironman2014

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Scince most of expersts predict a large long term growth of bitcoin, this idea sound not more hillarious, but real and logic. do it

Leenkoranan

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Quote from: Xavofat on April 16, 2018, 04:11:48 AM

This is basically the same question as "should people put all of their savings into Bitcoin", but it happens over a longer timeframe. Obviously the answer is no. You should never put all of your money into just one thing, especially not something as notoriously unstable as Bitcoin.

The only emergency that it would potentially be good for is a collapse of your entire country's monetary system - but the best thing to have in those circumstances is an asset like gold, which more people would be likely to accept.

In most emergencies, you'd be better off having fiat, since you can spend it easily and it tends to retain most of its value.

RolandoBTC

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Quote from: sparg on April 16, 2018, 03:27:48 AM

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.
[/quote
Really true emergency means in an instant you have money in no longer time,as we know here in bitchoin it takes many months to receive your reward,so never use this bitcoin as emegency possible.

Kamote_1102

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I don't think it's good to use Bitcoin as emergency money. because the value is changing from time to time. and it's not an instant thing to sell bitcoin. you need to sell it and wait until someone bought it. the best way is to convert it into fiat and keep it to your wallet, so you already have a cash on hand.

campica

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I was doing that thing right now, but I don't investing money that I get from my regular job. Every penny that I get from internet earning or every coin that I get from signature campaign I exchange or sell and put all in bitcoin. So it's like a saving with great yearly interest rate and if I really need money I will sell that bitcoin no matter how much worth bitcoin on that day.

ymirymir

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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?

As for me, I think thatbit is still better to have bitcoin as our investment aside from our emergency savings. It is a good way of earning for our future so we must just keep it growing. We should have another savings for emergency purposes. We must save wisely.

Similificator

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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?

Well the thing is though, is that bitcoin's value is very volatile and cannot be predicted even by the greatest trend analyzers out there. This is most probably the reason why a lot of people are skeptical about it. Although we know we are all gonna be going up in some time, we cannot be sure as to when this will happen or will we be on an uptrend when emergencies come. Thus, I suggest that people invest only the funds that they can afford to throw away or literally burn.

jasramos

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Not a savings, but an investment. No one could tell how bitcoin will perform in the future. Better diversify those funds if it will be used for emegencies.

dario.93

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I believe that when people hold way too many bitcoins it prevents this cryptocurrency from growing because there is no real way to spend them in stores etc.

imking

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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?

Good strategy if you are person do the bitcoin as saving of the emergency needs. I also have the strategy I save my bitcoin or even the altcoins for the emergency sometimes when I have an extra amount of money I put on to the cryptocurrency more than to banks. Speaking of the bank, I also have bank saving but not more enough more than to save on the bitcoin. But I set target value of the bitcoin when it reaches it I will convert it into fiat. Not all my coins.

Melodimayy

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I don't think that is wise to spend all of your saving and turn it into bitcoin. Bitcoin is volatile, so the prices couldn't be precisely predict. When you put your saving into BTC, and when you in such emergency need, it is good when the prices up and you've already have some profit, but it is bad luck when you in need and the prices goes down. Better put the money that you can let it go when it losses.

redshiftexpensive

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I have kept some as my back up currencies. They are in my ledger nano wallet, secured.

brokeroutriggerR

newbie

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I think if you want some backups for emergencies, then better have insurances separately or savings in banks!

Topic: Bitcoin as savings, emergency needs possible? - page 7. (Read 2091 times)