Bitcoin is a good way to store money? - page 5.

diodio5

hero member

Activity: 490

Merit: 500

Quote from: tampazeus on September 07, 2016, 08:11:11 AM

Quote from: groll on September 07, 2016, 08:08:07 AM

Quote from: Altcoinmoney on September 07, 2016, 03:38:15 AM

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

Precisely. We can say that our money is safe with our bitcoin wallets but we cannot guarantee about the price. Its price is so volatile, no one can predict when and how much its price will be. But bitcoin for me is still the best way to transact online if you want a hassle-free transaction.

Risk will always follow bitcoins but don't forget that it can give best profits too if price goes higher in future so I think we can afford to take the risk of investing in bitcoins.

I think although bitcoin prices rise in the future but I'm sure people will not be able to resist their desire to sell at a relatively high price? or maybe they will feel panic when prices go down when a lot of people already say that the price of bitcoin will be high in the future?

InsideBjorn

sr. member

Activity: 336

Merit: 250

If you really want to store money with the bitcoin it can be option but I honestly do not recommend you to do this because of the fact that the bitcoin can also collapse these days.
The bitcoin is not predictable so I think its not the best way to store your money.

tampazeus

hero member

Activity: 924

Merit: 1000

Lick me like a lolipop

Quote from: groll on September 07, 2016, 08:08:07 AM

Quote from: Altcoinmoney on September 07, 2016, 03:38:15 AM

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

Precisely. We can say that our money is safe with our bitcoin wallets but we cannot guarantee about the price. Its price is so volatile, no one can predict when and how much its price will be. But bitcoin for me is still the best way to transact online if you want a hassle-free transaction.

Risk will always follow bitcoins but don't forget that it can give best profits too if price goes higher in future so I think we can afford to take the risk of investing in bitcoins.

groll

sr. member

Activity: 336

Merit: 250

Quote from: Altcoinmoney on September 07, 2016, 03:38:15 AM

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

Precisely. We can say that our money is safe with our bitcoin wallets but we cannot guarantee about the price. Its price is so volatile, no one can predict when and how much its price will be. But bitcoin for me is still the best way to transact online if you want a hassle-free transaction.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: Altcoinmoney on September 07, 2016, 03:38:15 AM

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

and when the price rising you will make a profit,it's bitcoin's characteristic or behaviour to be so volatile but it's also could give you a benefits,it's just about how you use bitcoin,if the value of your wealth was the main priority then why saving in form of thing which is volatile?

peta4e

hero member

Activity: 672

Merit: 500

Quote from: mrjoy15 on September 07, 2016, 06:22:10 AM

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

Yes,i fully support with your threads.As a crypocurrency broker, it's my opinoin that bitcoin store is a big opportunaty for us or investment another also.All are kinds of parts related with bitcoin.Another good news for us,next year 2017 will be bitcoin year.Hope,something good opportunity wait for us.

Every year is a year of bitcoin and its good to see that price of bitcoin has started to rise and we can expect the same in future too so its good to invest money in bitcoin to get best returns in future.

Herbert2020

legendary

Activity: 1946

Merit: 1137

first you have to clarify what your purpose is from storing money.

- for the sake of storage and keeping it safe, you have banks as an option where you can deposit your fiat in a bank account and even receive a profit on your deposited amount. and it is secure enough to be trustworthy. and as for security and just keeping money in bitcoin, it is good and completely secure if you choose cold storage.

- but as an investment and making profit, bitcoin is good and bad at the same time because the price is volatile and you have to find a good time to invest like when there is decline or the price is stable and preferably low and always will have risk of loss because of the possible price decline.

fugit00

member

Activity: 65

Merit: 15

Agree that you are basically gambling on the price of bitcoin increasing or at least staying the same when storing money so its a very volatile method of saving.While things look relatively good in bitcoin at the moment and the future looks good we cannot say what things will be like in 5,10 or 20 years time.
Smaller amounts of bitcoin are probably a good system of investing some savings but gambling on your future with larger amounts would be too risky in the long run.

mrjoy15

hero member

Activity: 840

Merit: 504

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

Yes,i fully support with your threads.As a crypocurrency broker, it's my opinoin that bitcoin store is a big opportunaty for us or investment another also.All are kinds of parts related with bitcoin.Another good news for us,next year 2017 will be bitcoin year.Hope,something good opportunity wait for us.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: Altcoinmoney on September 07, 2016, 03:38:15 AM

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

its true, while we don't watch the rate in week, and suddenly the rate is down to deep and we lose our money in bitcoin. its different if we buy bitcoin when the rate is in range $200-$300, because when you buy in that range, no matter happen, the rate will not go down to deep until reach $200 again because the market won't allow it. but if you buy in range $500-600, you should be careful and i think you should follow the news or the market to know the new rate of bitcoin so you can get profit when you want to sell it.

Darwin02

hero member

Activity: 714

Merit: 500

Quote from: severaldetails on September 07, 2016, 05:48:58 AM

I think the volatility of bitcoin is not as big as it was some time ago.
It could be compared to the stock market, and a lot of people invest their money in stocks.
And if you have a good way to exchange your bitcoins into fiat and back whenever you want, I see no reason why bitcoin should not be considered as a way to store money.
And if you handle it right, I consider it even safer than the cash at home.

I agree there is many online wallet that you can easily convert your bitcoin to Fiat. If you can play bitcoin in a good way , you will profit in it than loosing some amounts, I personaly trade my bitcoin into Fiat when I think bitcoin will going down.

severaldetails

hero member

Activity: 959

Merit: 500

I think the volatility of bitcoin is not as big as it was some time ago.
It could be compared to the stock market, and a lot of people invest their money in stocks.
And if you have a good way to exchange your bitcoins into fiat and back whenever you want, I see no reason why bitcoin should not be considered as a way to store money.
And if you handle it right, I consider it even safer than the cash at home.

Altcoinmoney

sr. member

Activity: 344

Merit: 250

Bitcoins can be a good way to store money but you can also lose allot of money becuase the price of the bitcoin is unstable so the price can drop allot and you will make allot of los.

DomesticTrader

sr. member

Activity: 252

Merit: 250

Bitcoins can be good way to store money off course but what you need to know is that the price of the bitcoin can be very low so if you hold them as coins you can lose allot !

airezx20

sr. member

Activity: 350

Merit: 250

Yes i used to that in the past i was holding all the bitcoins that i earned in my wallet and hold a maximum of upto 1.2btc in my wallet and till then bitcoin price has also increased and that turned out to be really good investement for me.Due to some emergency i have to withdraw them all and now i have started to hold my money in bitcoins again.

entrepmind23

sr. member

Activity: 644

Merit: 261

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

Yes bitcoin is a good way to invest money but it's better if it's for long term than short term because of the volatility of bitcoin now having big fluctuations then it may not be good if you buy now and then suddenly the price will go down whereas if you invest it for the long term then you would not worry about the fluctuations for now because bitcoin is strong and even if it goes down, it will go up eventually. If you also have problem in bank because you don't have supporting documents to open one then bitcoin is a good alternative in storing money because you can just open an account not needing any documents. Of course there is risk that your money will be lower in value because of price difference but it's better than putting it in your own wallet and then you can spend it immediately.

traderbit

hero member

Activity: 798

Merit: 1000

Quote from: noictib on September 07, 2016, 12:06:40 AM

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

Yes it's not only the good way bit the best in my opinion, because if you invest or some 1btc and store in your wallet for year then after that certain time interval that 1btc's price will definitely rise and so by selling the btc again you could get some profit.

even it is possible that this profit could be double. I honestly always tread bitcoin is a way to store my money. because for investment. bitcoin is not really safe. bitcoin is full of ponzi sites. and you can't say which site is worth to invest and which is not. but storing money in bitcoin is always a good choice.

delliaerd

hero member

Activity: 672

Merit: 500

Quote from: Woshib on September 01, 2016, 10:57:01 AM

Bitcoin is just a good way to invest your money?
Or we can also store our money there, if the price stay stable?
What do you thing about this?

Even not only when the price stable we can store our money in bitcoin also when the price ia going up slowly. You will get more value from that is like investment

ObscureBean

legendary

Activity: 1148

Merit: 1000

Quote from: marleybobthedog on September 07, 2016, 12:09:24 AM

Yea obviously the best way yo store money. If you deposit $500 ~ 1btc in bank then after 1 year they will give only few bucks as interest but if you buy and store 1 btc then af years you could get highly benefited. As there is no change of price drop.

You do realize that's the same as gambling right? There is no guarantee that the price will go up or that bitcoin will even still be around in a few years. And you're saying it's the best way to store money? I can only assume you're saying this because you yourself have already converted all the money you had in the bank to Bitcoin.

marleybobthedog

full member

Activity: 210

Merit: 100

Yea obviously the best way yo store money. If you deposit $500 ~ 1btc in bank then after 1 year they will give only few bucks as interest but if you buy and store 1 btc then af years you could get highly benefited. As there is no change of price drop.

Topic: Bitcoin is a good way to store money? - page 5. (Read 7021 times)