Bitcoin or banking investment? - page 9.

Kaliandra

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Quote from: ektotanes on May 28, 2023, 03:51:32 PM

People choose bitcoin over banks because they don't want to trust their money to other people, they want to have full control over their funds.
I choose Bitcoin.

your opinion makes sense too, yes it is like that friend ,,
because investing in btc is very fun and will also have the potential to get big profits,

but investing in btc can of course have the potential for loss if we get panicked and sell it in a bear market situation, or need funds for medical expenses and sell it in a bear market.
I think if you choose to invest in btc it is a good thing as long as you are ready to take risks.

ektotanes

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People choose bitcoin over banks because they don't want to trust their money to other people, they want to have full control over their funds.
I choose Bitcoin.

BVeyron

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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?

Banks and cryptocurrencies actually face the same problems. This happens because fiats are digital too. So they both need same things: privacy, security, good online services and good support facilities. So banking networks and cryptocurrency dev teams (along with miners) deal with similar troubles.

Call_Me_Guru

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Quote from: DiMarxist on May 28, 2023, 11:27:04 AM

Bitcoin is a type of investment, we know besides other types of investment. And many people who are familiar with Bitcoin will choose to save their money in Bitcoin, but they also save their money in the bank to make ends meet and for sudden needs.

The bank is a place to save money and not to invest even though it has investment products too, when you actually deposit those money under fixed deposit.

Every of them can be considered as investment but the bitcoin investment outshines the bank investment. Bank investment will give you little return after gaining so much from your money but bitcoin will not use your money for anything and again give you return in multiple. The investment is good when we understand them and bitcoin is to be invested at the proper time. The proper time is the time that the value is low not the time that is high and that will put anyone in trouble. Investing and letting the investment spend many years is a good plan for bitcoin and might have given you more than 100 times of what the bank will offer you.

DiMarxist

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Bitcoin is a type of investment, we know besides other types of investment. And many people who are familiar with Bitcoin will choose to save their money in Bitcoin, but they also save their money in the bank to make ends meet and for sudden needs.

The bank is a place to save money and not to invest even though it has investment products too, when you actually deposit those money under fixed deposit.

Wend

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I use the bank to keep my savings for emergencies as well as my daily necessities. I never thought of depositing a large sum of money in the bank to receive the meager interest they paid us. Meanwhile, I use bitcoin as a long-term investment for the future, although bitcoin is riskier than other assets but with the return it can provide, I think it's worth the trade-off.

If you are not a risk taker and can't take risks, don't invest in bitcoin but don't put all your money in the bank, try with stable assets like gold. On the contrary, you can take risks, like thrills like riding a roller coaster to find with bigger profits then bitcoin what you need.

GreatArkansas

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

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

For me, investment in banks these days is already old school. Because for me, I am only using the bank these days for my daily expenses or emergency fund, money that I can quickly use just in case I want.
Which, about investments, I don't use banks at all for them.
Bitcoin yes, I bought Bitcoins sometimes when I want to invest in them. Then I set my goal where I will take profit from that investment.

Dr.Osh

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I will be more inclined to choose investments, and bitcoin is one investment that I think has enormous potential in the future. maybe a deposit to the bank is a safe way to make extra money, but we also need to have a large deposit so we can feel the interest each month. However, I prefer investing or bitcoin because I feel that with not so much money, we have unlimited potential to get big profits, but also with the same big risks.

Magic-Money

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Thing's are changing into a global wealth class, which Bitcoin is a moving trend of financial services, banking my money with Bank is a waste of time and energy, because stress going to bank, and also without being making a transaction, bankers we still collecting charge's, so I prefer Bitcoin as savings account that we stayed Long, before making a transaction and give more profitable than Bank.

maydna

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The bank is a place to save money and not to invest even though it has investment products too. But generally, banks provide accounts for people to keep their money in.

While Bitcoin is a type of investment, we know besides other types of investment. And many people who are familiar with Bitcoin will choose to save their money in Bitcoin, but they also save their money in the bank to make ends meet and for sudden needs. And I keep my money in Bitcoin and the bank, but I don't invest in the bank because the interest I will get is very small, and it's not worth trying.

eightdots

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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?

Why do we have to choose only one? I prefer both and this is how I have progressed so far. If the conditions and the world change, the choices that are appropriate for that time are made. One of these choices can replace the other, yes, but time has to pass. I think it is too early to ask this question right now.

Our choices enable us to live in accordance with the times. We cannot ignore something that exists or has validity at this time. I am glad that the banks have accelerated the future of Bitcoin with their mistakes.

yudi09

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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?

Investment in banks has experienced a decrease in the level of trust in line with the economic situation and investment outside the bank has actually increased as an effort to protect wealth.

Investing in Bitcoin is a more reliable type of investment than investing in a bank that provides expectations of an annual interest percentage.
In my opinion, the fall or bankruptcy of Silicon Valley Bank (SVB) is a strong consideration, the percentage of investment in banks has decreased compared to investment in Bitcoin and Gold.

Personally, I don't like the banking system, so I have absolutely no intention of saving money there.
Speaking of risk, everything has a risk. It depends on how we manage risk.

Alucard1

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Storing your money in cryptocurrency and in bank are both good option, there are different prons and cons in different ways of storing your money. If you want investment then it is good to store your money in cryptocurrency especially in a long term investment and also you have the power to control over your money in anytime and in anywhere you are. Bank is not a good investment, as it is only good for saving your money, if you just dont want to risk your money and you just only need to place it in a safe way then go for the bank.

Stable090

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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?

Why will I choose to invest in bank when I know that banks are just using me to multiply their own money, if you invest in bank, they use your money to run some other businesses and give you just little percentage from the profits which they make, investing in banks is just like you are enriching banks owners and you are not enriching yourself, but if you invest in bitcoin, then you are enriching yourself and not anybody. I don’t even leave money in my bank account, I only leave any amount which I know I will be using in the next few hours or days in my bank account, all my money is always in my wallet address, and am always controlling my money and am financially free, nobody is managing my money and nobody is monitoring the way am spending my money.

yazher

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Banks also have risks especially those who are about to fall without their client's knowledge because they hide it from them. Now if we are looking for secured and sure income for our money, I can say holding bitcoins is more secure in the next years to come because you don't have any fear about losing it or losing control of it when you do some necessary things to keep it safe. Banks are not reliable in every situation and there are times when they hold your balance and do not release it due to some unforeseen calamity whether it's from them or something they detect anomaly from you.

Mate2237

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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?

I did not see Banks as a ln investment platform all but bitcoin is for investment for all. Bank investment is only meant for those owners for the bank and not for others. Op has you or any of your house family member is also a shareolder in a bank? For you to invest in bank, you will become a shareolder and for you to become a shareolder you must have millions to partake. It is only in bitcoin one can invest without having a huge amount of money but I don't think so with bank.

ilovealtcoins

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Quote from: Crptomagma on May 28, 2023, 04:47:12 AM

Saving money in the bank is different from Bitcoin investment. If you deposit money in the bank it gives you low or no income and still your capital remains intact. But in that of Bitcoin case it is risky because you may loose half of your money within short period of time and at the same time make triple of your money within short period of time. So in all it better to have some of your money saved in the bank for taking care of some things and also some in Bitcoin and wait till the price increase.

This is what I am doing, and I am satisfied with my plan. It would be foolish to put all our money in the bank because not only would it not benefit us, but our money could also be eaten away by inflation. But it would also be more foolish to put all your money in a volatile asset like bitcoin. We can lose everything if one day bitcoin disappears. So, dividing assets into parts and putting them in different places is the best way we should do it.

fuguebtc

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Quote from: Inwestour on May 28, 2023, 05:30:08 AM

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?

You misjudge risks when you talk about banks. Firstly, the interest that you can receive from a bank deposit will be eaten up by inflation, and secondly, while the money is kept in the bank, it does not really belong to you, but is under the complete control of the bank, and you may not even be able to get it quickly in case if you need them.

As you can see, the risks are quite large and I see no reason to keep money in the bank, and even more so, I see no reason to use a bank deposit to make a "profit".

What you said about the bank is absolutely true, that is the downside of the bank. But what about bitcoin? Is it perfect? Is it safe for us to put all our assets in it? The answer is that nothing is perfect and safe. What happens when you put all your money in bitcoin for $50k or $69k, and you need the money urgently right now, and its price is only $26k now? Will you still be satisfied using bitcoin after losing over 50% of your net worth?

To be fair, nothing is perfect. And the solution in this case is not to put all your eggs in one basket, diversification is essential.

Inwestour

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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?

You misjudge risks when you talk about banks. Firstly, the interest that you can receive from a bank deposit will be eaten up by inflation, and secondly, while the money is kept in the bank, it does not really belong to you, but is under the complete control of the bank, and you may not even be able to get it quickly in case if you need them.

As you can see, the risks are quite large and I see no reason to keep money in the bank, and even more so, I see no reason to use a bank deposit to make a "profit".

kryptqnick

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Banks offer a really low interest rate, usually, that doesn't make sense unless you have a lot of money (but in that case, you don't really need more or it, even though you can make more) and the fiat currency you're dealing with is very strong (otherwise you might lose more to inflation than gain from the interest rate). Moreover, it comes with a risk, since banks are centralized and can basically do what they see fit with your money. If you hold your Bitcoin in a non-custodial wallet, however, at least the money is really yours and nobody can manage or mismanage it. Sure, Bitcoin may not grow as fast as you want and it can take a while to recover, but there's also a chance to gain way more profit than with a bank deposit, especially if one's willing to wait for several years.

Topic: Bitcoin or banking investment? - page 9. (Read 1370 times)