Bitcoin or banking investment? - page 7.

minersday

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Quote from: FiveG on May 27, 2023, 04:42:21 PM

I believe bitcoin and banks are well renounced investment platforms but many people prefer bitcoin investment despite is very risky because of high demands and rising price interest and banks on the other hand saves millions of people finances all over the world yet their investment interest is very small but less risky than bitcoin. Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

Your risk tolerance, financial goals, and personal circumstances will influence your decision between Bitcoin and banks as an investment alternative. Bitcoin has the potential for larger rewards, but it also has higher volatility and hazards. Banks offer a more conservative and regulated environment with lower profits, but they also provide more stability and security. It is critical to thoroughly assess your personal financial circumstances, examine your risk tolerance, and diversify your investment portfolio depending on your own requirements and preferences. Consulting with a financial expert might also help you make an educated decision.

Minor Miner

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Quote from: Litzki1990 on May 30, 2023, 09:53:38 PM

Various economists are already warning about the possibility of global inflation in the coming days. If something like global inflation happens then I think keeping money in the bank is risky. Because during inflation banks are in debt in various ways and those who give loans at that time also refuse to pay the bank loans, so keeping money in the bank at that time is a more risky job. Because banks will declare themselves bankrupt if they are over-indebted and unable to pay that debt. If the bank is not in a position to repay the loan then according to the special law those who deposited money in the bank will not have any right to the money of the bank. All things considered, this is the time to invest in Bitcoin instead of keeping money in the bank.

Hasn't inflation hit us since last year? And many banks in the US have collapsed, and it doesn't look like it will stop anytime soon. But that does not mean that the entire banking industry will collapse, and all those who deposit money in the banks will lose their money and not be compensated. In addition, investing in bitcoin is not a bad choice, but it also has its risks, it is also not entirely safe for us to trust enough to put all our assets in it. The solution is to invest part in bitcoin, and part savings in the bank, we should not depend on one single thing, and diversification is the right thing to do.

Alpha Marine

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Quote from: Litzki1990 on May 30, 2023, 09:53:38 PM

Various economists are already warning about the possibility of global inflation in the coming days. If something like global inflation happens then I think keeping money in the bank is risky. Because during inflation banks are in debt in various ways and those who give loans at that time also refuse to pay the bank loans, so keeping money in the bank at that time is a more risky job. Because banks will declare themselves bankrupt if they are over-indebted and unable to pay that debt. If the bank is not in a position to repay the loan then according to the special law those who deposited money in the bank will not have any right to the money of the bank. All things considered, this is the time to invest in Bitcoin instead of keeping money in the bank.

What makes it worst is that money in the bank cannot be said to be investments. Except you keep that money in a fixed/time deposit account, in this case, you can't touch it or use it until the end of the period agreed with the bank. In some cases, if you want to breach the agreement, you will do so at a discount to the bank.
It's not so with bitcoin. With bitcoin, you have an investment and at the same time, you have a currency. You can leave your bitcoin in your wallet and there's a probability that it will grow more than it was last month. There's also a probability that it will decrease, but isn't that the whole idea of an investment?

There's also the fact that your money will lose its value over time in the bank. In countries like mine where the local currency keeps depreciating, if you leave your money in the bank for a whole year, inflation must have eaten deep into the economy. If you were saving the money to use for a particular project, the money you get at the end of the year might not be able to afford that project any longer.

smile1218

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Quote from: FiveG on May 27, 2023, 04:42:21 PM

I believe bitcoin and banks are well renounced investment platforms but many people prefer bitcoin investment despite is very risky because of high demands and rising price interest and banks on the other hand saves millions of people finances all over the world yet their investment interest is very small but less risky than bitcoin. Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

Well for me i choose both, for banks i use it for my daily fiat transactions where i store my fiat and i can easily also withdraw anytime when i needed to. For Bitcoin investment i also prefer this even though it is very risky but my goal for this is for long term investment. Though investment in banks is much secured but of course the interest is very minimal. While in Bitcoin it is very risky to invest but if you keep it for a long time you will earn a significant profit.

xSkylarx

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We can't hide the truth that we are choosing bitcoin when it comes to investment because of the huge return compared to banks, but the real problem is, are we doing it? I mean, we know that the bank is less risky, but the profit is also low, unlike bitcoin, where the profit is high but the risk is also high. I think if we are just talking about something like investment and we know that it is a profit or a loss and we accept it, then for sure we invest in bitcoin, but when we talk about security or a retirement fund, for sure you'll be using the bank by storing money in it, not by earning interest but by securing your future.

kotajikikox

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Quote from: FiveG on May 27, 2023, 04:42:21 PM

I believe bitcoin and banks are well renounced investment platforms but many people prefer bitcoin investment despite is very risky because of high demands and rising price interest and banks on the other hand saves millions of people finances all over the world yet their investment interest is very small but less risky than bitcoin. Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

seriously banks saved Millions of people? so what about those people that has been robbed by banks? or those people houses and businesses in which taken by banks because of High interest from their loans?
i would rather be in risky bitcoin investment at least i knew that it is my decision where to put and how will happen to my money.

Dimitri94

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Quote from: FiveG on May 27, 2023, 04:42:21 PM

I believe bitcoin and banks are well renounced investment platforms but many people prefer bitcoin investment despite is very risky because of high demands and rising price interest and banks on the other hand saves millions of people finances all over the world yet their investment interest is very small but less risky than bitcoin. Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

The banking sector has been experiencing major downturns form the recent times. I do not support investment in the banking sector at a time when the world's reputed banks are on the brink of bankruptcy. When people lose faith in the banking system, the bank will be bankrupted. Because the trust of the common people towards the bank is the asset of that bank. When those assets are destroyed, the bank becomes insolvent. The crisis of confidence in the banking system certainly indicates something like that. So as a conscious citizen I don't want to risk on my assets. Although there are risks involved in investing in Bitcoin, those who invest long-term are more likely to gain than risk. Moreover, it is possible to earn much more than the current interest rate offered by banks by investing in Bitcoin. Another important thing is that the effect of inflation is very high at present, so even if you deposit money in the bank for a long time, it will lose value, considering all aspects, I will choose Bitcoin investment.

crypticj

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When you choose between banks and Bitcoin, always choose Bitcoin.

Bitcoin was created to solve the banking problem and allow people to own their money and transfer them without the middleman. So using Bitcoin can be safer if you think that your bank can go bankrupt.

Litzki1990

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Various economists are already warning about the possibility of global inflation in the coming days. If something like global inflation happens then I think keeping money in the bank is risky. Because during inflation banks are in debt in various ways and those who give loans at that time also refuse to pay the bank loans, so keeping money in the bank at that time is a more risky job. Because banks will declare themselves bankrupt if they are over-indebted and unable to pay that debt. If the bank is not in a position to repay the loan then according to the special law those who deposited money in the bank will not have any right to the money of the bank. All things considered, this is the time to invest in Bitcoin instead of keeping money in the bank.

bayu7adi

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Quote from: ChiBitCTy on May 30, 2023, 05:49:38 PM

They aren't comparable and people should stop doing so. As I've said a million times over here as a financial advisor this is a question I get asked all of the time.

Then, what is the advice of a financial advisor regarding good money allocation? There are many people here who always rely on their beliefs to gain profits when Bitcoin reaches a new all-time high (ATH) and call themselves investors. On the other hand, banks also offer a small but more certain percentage of return on investment (ROI).

Personally, I still consider Bitcoin and bank deposits as investments because they can provide returns when held for some time.

Marcorey

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Bitcoin and bank investments are two different investments, both with certain risks and rewards.
Bank investments are more stable and reliable, but the returns are relatively low. Investing in bitcoin is riskier because the bitcoin market is very volatile and may offer higher potential returns when the price rises.

ChiBitCTy

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They aren't comparable and people should stop doing so. As I've said a million times over here as a financial advisor this is a question I get asked all of the time. Keeping your money in the bank versus keeping money in bitcoin is two ENTIRELY different things.

A well diversified portfolio is the only way to go. Bitcoin isn't inherently an investment to begin with. It has become one, just like people trade all fiat money, but it's not it's main purpose...so keep this in mind. It should be held as an investment in your portfolio only in the part that is considered high risk. This for most people typically isn't advisable or a small part of their overall portfolio.

Not to mention keeping a large % of your money in the bank is also not advisable.

Fatunad

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Quote from: speeder on May 30, 2023, 11:31:38 AM

Quote from: ancafe on May 30, 2023, 03:47:16 AM

Quote from: blockman on May 29, 2023, 05:44:14 AM

It is because their confidence is never gone on them. They're backed up by the government and the central bank and that's why even if there's Bitcoin and another monetary system that shall be liked by many people, still, they're there and they can't just be gone and their main purpose is to circulate the money in the economy. And when people talk about savings, the very first thing that comes to everyone's mind is about saving in the bank.

Because this system has been built a long time ago and there are only a few choices that can be made by the community regarding borrowing and saving. In the era of technology that is increasingly developing, banks are starting to provide withdrawal and deposit services through ATM machines and people no longer need to queue at the teller. This convenience makes people think of an easy solution offered by banks and can make them save time queuing.

Even though as a whole there is an imperfect system and banks are not a solution for saving money because of the potential value that continues to depreciate, for some people the convenience offered is a solution and for those of us who are familiar with bitcoin or crypto may have another understanding regarding the accuracy of placing money in bitcoin investment.

Quote from: blockman on May 29, 2023, 05:44:14 AM

Even for the corporations, they're borrowing money in the bank and it's easy for them to take loans because the banks know that the money that will be lent to them will generate money.

Talking about loans is also not as easy as it sounds, there are terms of the agreement that must be met by the customer and if the loan fails to meet the monthly fee, the consequences will also have an impact on the borrower's risk. So even though it looks easy and helps a little the loan risk cannot be ignored, especially if there is no other another plan when you fail to pay your monthly installments.

Your words are logical, the word loan is short but its role is long. Debt is a curse of society. If you want to invest by borrowing. Then I will tell you that it is necessary to take the right decision seriously. Because there is a lot of risk involved in investing. Risk and market volatility are inherent in investing. No matter how risky the borrower is. The lender must comply with the conditions. So not loans you can encourage investment. For investment in current generation, Bitcoin is the best for me

As much as you could, you should really be stopping or really wont really be that considering on speaking about taking a loan for you to make out some investment. You should really be avoiding this kind of stuff or set up because you would really be putting up yourself into a debt problem because you are really that cant be sure that you would really make profits out of your investment and to mind that we do have that kind of
risk on which the market isnt something that could be predicted on when it would really be making out those pumps or increase and if this is the main source of profit you are waiting for on repaying up those loans
then its not something ideal and you are really putting yourself into a big problem.If you do have other income sources then it is really just that fine on taking a loan as long you arent really that focused on a single
point or relying on it 100% or else you would really be putting yourself on much trouble and something that you should be avoiding. Investment does have always that accompanied risks.

JayTrain

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Digital currencies do indeed offer unique advantages compared to traditional fiat currencies. The decentralized nature of digital currencies, such as Bitcoin, provides individuals with greater control over their assets and eliminates the need for intermediaries. The transparency and security provided by blockchain technology enhance trust and reduce the risk of fraud. Additionally, the global accessibility of digital currencies opens up new opportunities for businesses to expand internationally. However, it's important to note that digital currencies also come with their own set of risks and challenges, such as price volatility and regulatory uncertainties.

JayTrain

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The choice between investing in Bitcoin or keeping money in a bank ultimately depends on an individual's risk tolerance, investment goals, and understanding of the respective assets. Bitcoin offers the potential for high returns but also carries higher volatility and risk. Banks, on the other hand, provide a more stable and regulated environment but typically offer lower returns.

The Cryptovator

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As someone passionate about Bitcoin, I believe it is advantageous to invest in it. However, as a rational individual, I understand the importance of diversifying one's investments and not placing all savings into Bitcoin. It is prudent to maintain a portion of funds in a bank account as a safety net, as unforeseen circumstances may arise where fiat currency is necessary. By keeping funds in the bank, you can handle emergencies without having to sell your Bitcoin holdings, thereby managing risk effectively.

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Quote from: FiveG on May 27, 2023, 04:42:21 PM

Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

This kind of thing depends on one's actual perspective and interest. When we talk like this on the platform or indeed the bitcoin community like bitcointalk, as a whole, of course, they will choose bitcoin as a form of investment, but it is different from those in bank investment groups, for example, because of course something like this will be the opposite for us.
So in cases like this the pros and cons are still very reasonable and will continue to happen but of course in any case it's not a problem because we really need that to make conditions colorful.
Personally, for now I still use both because it is undeniable that the role of banks, especially for my area, is still very vital and indeed we cannot close ourselves with that either, but not in the context of investment because I only use it to support my life, while bitcoin is clear I don't need to say anymore because if I wasn't in bitcoin I wouldn't be here.

chikading2016

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I prefer to choose bitcoin than banking, because i believe that bitcoin can give a big profit if we only have patience to hold and wait for the right time. While in banking we only collect a very small amount of profit from the interest rate of our deposit. Only bank company become richer.

erixter

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Quote from: GideonGono on May 29, 2023, 08:21:38 AM

I believe bitcoin and banks are well renounced investment platforms but many people prefer bitcoin investment despite is very risky because of high demands and rising price interest and banks on the other hand saves millions of people finances all over the world yet their investment interest is very small but less risky than bitcoin. Which do you preferred your money to be save in as investment? Bitcoin or bank! What's your reason?

I pretty much agree with you, there could be many reasons but I think if you have capital and know how to use it, well than it is better for you to invest it in trade. See, you will invest your capital somewhere, if invest in bank then you have to get some package for that, it will be long term investment and banks are according to their law. It is right that you should invest some your capital, but keeping in mind today trend and E-commerce, BTC is the best platform for you to invest and get more profit from time to time. But, before this opportunity, you should learn first about trading, than surely you will get success.

SmartCharpa

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As for me, I'd rather invest in bitcoin than take my money and put it in a bank because if you don't have it, you aren't that big or rich, and if you're young, a bank will definitely want to know how you make money. In addition, if you invest in bitcoin, you can sell it whenever the price rises without going through a middleman. However, I still prefer to invest in bitcoin because even if the price drops, is just matter of time it will definitely pump up one day.

Topic: Bitcoin or banking investment? - page 7. (Read 1370 times)