Topic: Bitcoin is my Bank - page 5. (Read 1022 times)
Choosing to invest in Bitcoins in the midst of Pandemic is really a difficult and much risky decision you had ever made. However, I really commend you for being so brave to take the risk, and glad to know that the outcome is great on you and your family. Indeed, it is really inspiring and gives me more courage as well to do the same. Wishing you more profitable days as time goes on.
Due to the covid 19 pandemic, I lost my job and my bank account was closed because I withdrew all my remaining balance to buy our necessities, at that time I was looking for another alternative to lost job in order to support my family's needs . Until I start trading bitcoin with small capital and thanks God because with the help of cryptocurrency we can continue to survive from the difficult time of pandemic.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
It is a good decision but you should also be prepared for the crash or correction.Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
I also agree that it is better to save in crypto than hold it on banks since we could gain profit more in crypto than the bank but the risk of losing money is always there.
As long as you could stay ahead and have a good decision with your holdings then there wouldn't be a problem.
Putting resources into bitcoin is great and your cash will develop yet you should make sure about additionally your future and banks will help you by setting aside cash so as opposed to having bitcoin-simply it's smarter to have the two banks and putting resources into bitcoin. When you procure in putting resources into the bitcoin will you put the benefit to the bank? Since bitcoin is an unsafe venture yet will give you a decent benefit yet it can make additionally your cash loss.
I hold all my funds on Bitcoin but I have my bank account in case I need a money. I just convert my bitcoin then transfer it to my bank account. Its wiser to put funds on bitcoin than banks, money on bank doesn't grow and also very much affected by the inflation. So it would be better to just hold, knowing that the price is ever increasing and more and more demand is obtained by bitcoin becaise of big companies adapting. Im sure that bitcoin will continue to grow and money will transfer from bank to being decentralised.
As a "financial professional" I would advise you greatly to not keep all of your money in bitcoin. It is irresponsible for someone with a family to keep all of their money in bitcoin or any other highly risky investment for that matter. If you lived alone and didn't have anyone else to support, that's one thing. What happens when bitcoin falls back down to $10,000, or $8,000?!
I have written about this before and would highly suggest you read it- https://bitcointalksearch.org/topic/m.55577767
edit: All of you telling him he made the right decision or that he should do this, you all are clueless and have no idea what you're talking about.
I have written about this before and would highly suggest you read it- https://bitcointalksearch.org/topic/m.55577767
edit: All of you telling him he made the right decision or that he should do this, you all are clueless and have no idea what you're talking about.
Due to the covid 19 pandemic, I lost my job and my bank account was closed because I withdrew all my remaining balance to buy our necessities, at that time I was looking for another alternative to lost job in order to support my family's needs . Until I start trading bitcoin with small capital and thanks God because with the help of cryptocurrency we can continue to survive from the difficult time of pandemic.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
As long as you know what you are doing and you think you made the right decision I'll go on with your decision it's nice that you have a positive perspective to Bitcoin I admire your courage although we all know the risk of the volatility of the price of Bitcoin.
You already made a right decision as you were able to survive thanks to your trading skills as not anyone can easily profit in trading especially while starting with a small capital.
OP made the right choice, though he should be ready to handle Bitcoin volatility becasue this has be one of the most hindrance for those who love Bitcoin, a believe in this technology will surely help in overcoming tough time and decisions with the technology(Bitcoin). I can still remembered the first time i bought some little Bitcoin, few weeks later the price dropped and i was afraid but unfortunately sold my portfolio, with this experienced i was unable to hold Bitcoin until 2018 when i understand the ways of Bitcoin as a technology and as an investment package. 
This isn't a new thing, long back itself people have learnt to have bitcoin as their own Bank. People who are into cryptocurrency usage are once part of the banking community, and the technology evolution has made a big change in the financial system. This has paved way for large scale adoption of bitcoin. It is always good to have control over our funds, and the same is possible with bitcoin. We're into the very early days of bitcoin being our own Bank.
You are a man of youth and technology, very supportive of you in the thinking you have given. So you need to have a clear investment strategy. Wish you success with your chosen goal.
Being my own bank without the hassle to have to open my branch, offering coffee and tea to my customers, having to vacuum the floor and bringing the rubbish out has its own advantages.
I don't know if I can consider bitcoin=bank still the ability to control my own wealth kind of gives the idea of what a powerful thing the bitcoin protocol is.
I wish you all the best.
I don't know if I can consider bitcoin=bank still the ability to control my own wealth kind of gives the idea of what a powerful thing the bitcoin protocol is.
Due to the covid 19 pandemic, I lost my job and my bank account was closed because I withdrew all my remaining balance to buy our necessities, at that time I was looking for another alternative to lost job in order to support my family's needs . Until I start trading bitcoin with small capital and thanks God because with the help of cryptocurrency we can continue to survive from the difficult time of pandemic.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
If I could give you my small piece of advice, don't go full bananas. Invest what you will not be used for sustaining yourself and your family. Don't go all-in. Rome wasn't built in a day, humbly stack your sats and be content with it. Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
I wish you all the best.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
The freedom Bitcoin can give Banks can't offer such to their esteem customers. Bitcoin has be one of the best investment in this century becasue of it powers to holders. Basically, your story looks good because you where able to move from little capital to were you're now, which mean, you have added more feathers to yourself compared to your beginning. Though, trading need skills to make money with it; and learning more skills in this industry will give more opportunities everyday.
Contributing in bitcoin is truly great and your cash will develop but you may have to be secure also your future and banks will assist you by sparing cash so rather than having bitcoin as it were its superior to have both banks and contributing to the bitcoin. Once you win in contributing to the bitcoin will you put the benefit to the bank. Since bitcoin is hazardous venture but will deliver you a great benefit but also risk of lose money, It is clear that more risk more profit so risk is involved everywhere but professional investors invest wisely to minimize the risk.
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Truly this is another inspiring fact. Many people have changed their Luck with the help of Bitcoin. Although online trading requires some skills, But many unemployed people have become self-sufficient by just holding bitcoin without any skills. If you don't have any skills, still you can make profit only by holding bitcoin for long term.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
Feel it for your self. As you said you started trading and you are generating good profits from it you now have the momentum to keep on going on trading why not just go at it. Opening a bank is wise, but investing it in bitcoin specially when you are feeling good about it is way better. Opening a bank cost a couple hundreds(may vary in each country and bank) which you can use as capital for more trades and generate more profit.People who know to take advantage of bitcoin opportunities make more profit compared to traditional banks. However, bitcoin doesn't always hit a high price in the same way as this time, the volatility is a problem that cannot be resolved so far because of the large number of bitcoin whales that can sway the price of bitcoin. You have to be very cautious to pay attention to the movements and activities of the bitcoin market to make the right decisions, moreover diversification is a good thing just in case something undesired occurs, after all, not everything can be paid for using bitcoin, sometimes it requires cash and withdrawing from exchanges also requires a bank account.
You already made a right decision as you were able to survive thanks to your trading skills as not anyone can easily profit in trading especially while starting with a small capital.
You have proven already your skills in trading so it is not that hard for you to excel also in investing especially if you have chosen the top currencies that you think has the future if you are going to hold them for a long term one.
You have proven already your skills in trading so it is not that hard for you to excel also in investing especially if you have chosen the top currencies that you think has the future if you are going to hold them for a long term one.
Due to the covid 19 pandemic, I lost my job and my bank account was closed because I withdrew all my remaining balance to buy our necessities, at that time I was looking for another alternative to lost job in order to support my family's needs . Until I start trading bitcoin with small capital and thanks God because with the help of cryptocurrency we can continue to survive from the difficult time of pandemic.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
Now I have accumulated a small amount to be able to reopen a bank account but I think that instead of opening a new bank account, it is be better to just buy and invest in bitcoin so that I can expect more profit than the traditional bank.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
As long as you are not afraid on Bitcoin price volatility yes you can use it to stored your money it's almost the same thing as having a bank if you have many options to convert it in Fiat in your country . I also do the same thing I don't have a bank account I only stored my money in crypto currency . The only risk is the value might not be the same the way you buy it and the day you need your money, but as long as you don't care about the price you are good to go .
Pandemic taught how important to have a sole access to your fund which bitcoin and other cryptocurrency provided this year when there was restriction on movement, at that time even the banks were restricted. Dollar looks to be the trusted currency to hold when economies were failing but Bitcoin this year has shown a better profitable value, it could cope with the pandemic and falling economy around the world. I hope bitcoin would produce new ATH in the coming year even with the bad economic prediction for 2021
You need to continue trading to increase your bitcoin, but don't forget to learn more about trading because the crypto market will always change, and many coins can help you gain the benefits of trading.
Maybe you can reopen your bank account because we still need money to receive the conversion from bitcoin to fiat.
But if bitcoin can be used to pay for something you buy in your country, you don't have to reopen the bank account.
Just trying to earn more bitcoin, save it in your separate wallet, and only sell when the price is high.
Maybe you can reopen your bank account because we still need money to receive the conversion from bitcoin to fiat.
But if bitcoin can be used to pay for something you buy in your country, you don't have to reopen the bank account.
Just trying to earn more bitcoin, save it in your separate wallet, and only sell when the price is high.
I know that investing in bitcoin is risky but I also believe that bitcoin has a good future.
I just hope I made the right decision.
When you have just decided to go into cryptocurrency, or decided to buy cryptocurrency, decided to associate your activity with investments, you need to evaluate your type of investor.
First, it includes risk tolerance. You need to understand how risky you are, how calm you are about losing less or more of your capital.
Some people lack patience, which means that even if you lose a small part of your investment, you will start to feel uncomfortable and, as a result, start making mistakes that turn into financial losses.
On the contrary, some have a high tolerance for risk. They calmly watch various drops of coins, simply because of the blind confidence that sooner or later this asset will grow.
Persistence and discipline play an important role. Investments are somehow related to time, that is, you must determine a certain period for which investments should bring results, and it is desirable to postpone this period, usually this period covers three years.
Therefore, you need to understand that you, as an investor, are ready for such perseverance, and you need the necessary level of discipline in order to sit through and ultimately make a profit.
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