Topic: Bitcoin as savings, emergency needs possible? - page 9. (Read 2091 times)
Bitcoin is a savings account. Yes, precisely savings for the future. If you can save as much Bitcoin as you can and then hold on for many years you will surely benefit a lot from your patience over the years. But Bitcoin can also be an emergency need because in any case and whenever we can sell Bitcoin if we need it.
I like your idea. Investing in bitcoin little by little will have lower risk. I also plan to make investing in bitcoin as a saving instead of depositing it on banks. Thanks for your great idea.
I don't think this is a good idea. Better have your own savings account for emergency purposes. Because if you will invest it then you will withdraw it once emergency arises, then you will be forced to sell it at the current selling price. Think about it, what if the current selling price when emergency arises was lower than when you have bought it. You will just unrecoverable losses by doing so. So what you invest in bitcoin must be the "excess" of your money, or really dedicated to investment.
I don't totally consider bitcoin savings to be use in times of emergency need because if when you need it and the price is very low you have no option but to sell it i think it's better that when the price of bitcoin is high then sell it to have a big profit and then save it in the bank for emergency purposes.
That is what I am doing as well, I am saving for future and fund for emergency purposes, so that I can have something to get in times of need, and it is something that we all should need to have. Make this thing a habit, save for future and for emergency since we don't know when we need money the most.
Good decision, well mostly iam its not working right now, all my saving in cryptocurrency iam just cash out some money went i need that example like Bills electric and other think. Still believed Cryptocurrency its a good investment for long-term
I say that making bitcoin to deal with emergency needs is certainly wrong, if we do then we never get a good price and look like panic. Good financial management is important before investing bitcoin.
That is what I am doing as well, I am saving for future and fund for emergency purposes, so that I can have something to get in times of need, and it is something that we all should need to have. Make this thing a habit, save for future and for emergency since we don't know when we need money the most.
I say that making bitcoin to deal with emergency needs is certainly wrong, if we do then we never get a good price and look like panic. Good financial management is important before investing bitcoin.
I think, if bitcoin is invested for emergency costs, it is not quite right. Why? because if we consider saving bitcoin in case of emergency, how will it be when you need it when the price is low? maybe you will think twice to sell it, because you can loss. preferably, bitcoin is invested only for the future without any time limit. and you can sell it, when the price is high, then you can benefit.
if you are thinking of bitcoin investments for emergency expenses. I am a little confused about your thoughts. could you explain it more?
if you are thinking of bitcoin investments for emergency expenses. I am a little confused about your thoughts. could you explain it more?
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.
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.
Agreed it is hard to resort to cutting your loss when you need emergency funds and the market is down compared to when you started investing it into thus I think bitcoin is not very advisable as an emergency needs since emergency funds should be something that is stable with exact value that you can expect when you need it.
To me it's more like an investment. it's not saving because the price is fluctuative. because saving in my opinion is to save money with a fixed value. for example if you're saving $ 100 today, the value is same on the day after tomorrow or even next month. but for bitcoin if you save 0.01 for example, the value will change maybe tomorrow, because the rate is change over time and always fluctuative .
That is absolutely one of the benefits of BTCs. Emergencies, as it states, are unpredictable disasters. If money is urgently needed, then waiting 2-3 days of process from banks are massive wastes of time. Cryptocurrencies are more helpful that way. Lastly, BTCs can give more profit than saving in banks.
I think that would not be a wise choice because, we dont know when the btcs will stand out in the next hours only, so dont spend on it for emergencies
for me for a beginner can only say bitcoin can be a long-term savings, if it does not have a need and if you have emergency or urgent needs, if this is the only way, then bitcoin will be an emergency necessity but it will definitely lose everything.
Bitcoin has been proven to change the economy of the people who hold it, but if bitcoin is only used for emergency purposes, I think it is not true because as we know the bitcoin price movement is very unstable, if we rely on bitcoin for emergencies, many people will panic sell it without having to wait for the movement of market prices to increase because it is based on urgent economic needs. it would be nice to make bitcoin as a form of future investment assets because of the possibility of bitcoin value will increase from year to year.
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?
You can actually use bitcoins as an emergency needs because the price's in the market of any coin you are interested does have the chance to grow even more depending on the potential in the market.
However be its utility and whenever be the time, btcs never fail to establish its worth. same in this case too.
I think that saving money on bitcoins is not the best choise, people used to appreciate things with good value, unfortunatly bitcoin have no value so better to save money as gold, real estates, etc.
Yes, Bitcoin I make my savings for the future. And if at any time there is a very urgent situation I can use it. Bitcoin is very feasible and suitable if used as a future saving. Because the longer we hold Bitcoin the more profits we get. So you will not lose if you buy Bitcoin in large quantities.
I think we have some problem with this. If you say emergency it could be just anytime. Consider what could happen if the market for cryptocurrency drops? Should you wait for the values to go up before using it? Surely you will lose some of your money on this which is not good.
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?
Little amount of money can grow if you continue to saving it or if you invest it, not all investments company choose a person who has a high amount if money, there is a company who are considered small amount of money, I think there are company who do not choose high amount of money as long as they help others to grow their 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?
I think bitcoin as saving , emergency needs impossible. because the bitcoin is long term investment. the bitcoin is high volatile . you can loss alot , if you short term. Jump to: