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Topic: Bitcoin savings account? (Read 4320 times)

full member
Activity: 434
Merit: 100
July 22, 2017, 12:57:11 AM
I have a bitcoin saving account it is Ethereum Wallat  account i think my earns bitcoin btc are saving to this wallat account also be think at feture I will get a good respons.
full member
Activity: 630
Merit: 100
July 21, 2017, 11:55:16 PM
offline wallet is the best way for saving bitcoin in account . by this way you save your bitcoin very safe and secure . so many offline wallet are available in the market and another way you can download bitcoin core wallet from internet . it will take time but this is the best way to save.
hero member
Activity: 2408
Merit: 584
July 19, 2017, 08:58:17 AM
I do not think so, but if anyone can make a bitcoin wallet address for someone else like building a bank in their own wallet for others especially keeping the security of other people's money Smiley

yes this is quite difficult and strange to see that how bitcoin network is working and the price of the bitcoin is now very high bitcoin is now very easy to keep save and secure from robbing and stealing bitcoin network has invented a lot of online wallets for this purpose and those are known as hardware wallets so it will be easy to keep your bitcoin save in it.
sr. member
Activity: 1834
Merit: 261
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July 17, 2017, 05:40:59 AM
I do not think so, but if anyone can make a bitcoin wallet address for someone else like building a bank in their own wallet for others especially keeping the security of other people's money Smiley
sr. member
Activity: 434
Merit: 250
July 17, 2017, 04:35:02 AM
Is there any upcoming project that would act like a bitcoin savings account?
Savings account are supposed to generate a profit on an annual basis when money sits idly in ones account, but with the volatility of bitcoins, it will be hard to calculate profits accrued by the end of the year, I believe saving your bitcoins in your account is the same as using a savings account where you the banker and the customer at the same time.
sr. member
Activity: 714
Merit: 250
July 17, 2017, 03:53:06 AM
Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.

You don't have a bitcoin savings account. Your own wallet is already good to be your own savings account. And when the price of bitcoin is increasing just think that you are earning an interest from your deposit or holding amount.
Actually I can see as bitcoin savings to your own wallet. Just kept holding your bitcoin because for sure price will increase again. Though dump for now it will risen, just kept and HODL.
legendary
Activity: 3514
Merit: 1280
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July 15, 2017, 03:20:51 AM
Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

Ha ha.... 4% interest on bitcoin, which is an appreciating asset? How do they generate these returns?
And what happens if they fail to generate these returns. The better option is cold storage and taking advantage of airdrops like byteball.

This is not that much really

At any decent exchange you will get a lot more on average, though your interest is not guaranteed there, of course. But, strictly speaking, it is not guaranteed at freebitco.in either. Regarding generating returns, freebitco.in is a dice site, and they have a house edge which is way higher than at most "regular" Bitcoin dice casinos out there. The house edge across the "market" seems to be around 1%, while it is like 5% at freebitco.in (if I'm not mistaken). Further, they are aggressively advertising via Google AdSense, so their revenue flow from ads may be well above interest payouts (read it can be quite profitable overall)
legendary
Activity: 1918
Merit: 1012
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July 15, 2017, 03:04:36 AM
Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

Ha ha.... 4% interest on bitcoin, which is an appreciating asset? How do they generate these returns?
And what happens if they fail to generate these returns. The better option is cold storage and taking advantage of airdrops like byteball.
sr. member
Activity: 588
Merit: 251
July 15, 2017, 02:48:40 AM
Is there any upcoming project that would act like a bitcoin savings account?
That is an idea of bringing Bitcoin into the banking system, this will happen when banks and crypto currencies are now working hand-in-hand.
full member
Activity: 148
Merit: 100
July 15, 2017, 01:41:44 AM
Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere
hero member
Activity: 3024
Merit: 680
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July 15, 2017, 01:36:56 AM
Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.

You don't have a bitcoin savings account. Your own wallet is already good to be your own savings account. And when the price of bitcoin is increasing just think that you are earning an interest from your deposit or holding amount.
hero member
Activity: 837
Merit: 500
July 15, 2017, 01:35:25 AM
Is there any upcoming project that would act like a bitcoin savings account?

What do you mean bitcoin savings account? is it like a bank that giving any interest of the money you lend it to them.
For me it is good to do bitcoin savings through putting it in the bitcoin wallet address. Like Electrum, bitcoin core, multihd, and etc.

Saving in the wallet will not grow your bitcoin, whereas when the bank is present it will probably grow your bitcoin. Because they provide interest facilities for customers? Investing bitcoin would be more risky than storing bitcoin in a bank? But for now store bitcoin in the bank not yet present


A lot of bank are also not good, we all know that bitcoin value is unstable and bank will use it as their advantage, they can change the amount of value of bitcoin when its time to exchange it to fiat. They will use the unpredictable value and take advantage into it. Bitcoin wallet for me is better.
when i see how wallets gives a lot of better transactions conveniently, i stop using banks other than getting my salary and doing cashouts . I prefer biycoin transactions now that lining in bank tellers.
hero member
Activity: 1078
Merit: 501
July 15, 2017, 01:21:09 AM
Is there any upcoming project that would act like a bitcoin savings account?

What do you mean bitcoin savings account? is it like a bank that giving any interest of the money you lend it to them.
For me it is good to do bitcoin savings through putting it in the bitcoin wallet address. Like Electrum, bitcoin core, multihd, and etc.

Saving in the wallet will not grow your bitcoin, whereas when the bank is present it will probably grow your bitcoin. Because they provide interest facilities for customers? Investing bitcoin would be more risky than storing bitcoin in a bank? But for now store bitcoin in the bank not yet present


A lot of bank are also not good, we all know that bitcoin value is unstable and bank will use it as their advantage, they can change the amount of value of bitcoin when its time to exchange it to fiat. They will use the unpredictable value and take advantage into it. Bitcoin wallet for me is better.
sr. member
Activity: 1232
Merit: 250
July 13, 2017, 11:45:49 AM
Are you trying to say about the interest on the bitcoins while saving them?. There isn't any wallet which offers interest on savings, may be in future we will have any.

Yes no wallet will give you interest on bitcoins but I don't think that you need any interest on bitcoins as you can easily make profits with it by selling it when price goes higher and that profits will be higher in compare to the interest that banks will pay you.

Maybe interest will be provided in future, but I also think its not necessary, but it will be just a extra addition to the profit.
But this addition might bring old peoples and peoples who likes inerest.

I think its long way as a bank or wallet can only provide interest when they can earn enough amount and I believe many doesn't as many charges very less or nearly no fees.
sr. member
Activity: 364
Merit: 250
July 11, 2017, 10:54:31 PM
Are you trying to say about the interest on the bitcoins while saving them?. There isn't any wallet which offers interest on savings, may be in future we will have any.

Yes no wallet will give you interest on bitcoins but I don't think that you need any interest on bitcoins as you can easily make profits with it by selling it when price goes higher and that profits will be higher in compare to the interest that banks will pay you.
full member
Activity: 152
Merit: 100
July 11, 2017, 10:38:29 PM
Bitcoin has a savings account, I think have heard freebitco.in offer interest should try it if you love about it.
member
Activity: 79
Merit: 10
July 11, 2017, 10:25:15 PM
Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.
copper member
Activity: 1050
Merit: 294
July 11, 2017, 06:11:28 PM
Are you trying to say about the interest on the bitcoins while saving them?. There isn't any wallet which offers interest on savings, may be in future we will have any.
legendary
Activity: 2534
Merit: 1338
July 11, 2017, 04:18:11 PM
It is quite different question. I will give brief idea. It's right Bitcoin wallets useful to store bitcoins and worked as savings account. If any urgent need, you can spend your bitcoin anytime, anywhere. Its up to you.
I think the Op wants to receive something like interest rates for his bitcoin the same way a bank works, but that does not seem possible for the simple reason the number of coins is limited to 21 million, unlike fiat we cannot print them at will so it is impossible to try to manage bitcoin the same way governments try to manage the fiat economy.
sr. member
Activity: 1722
Merit: 252
July 06, 2017, 03:39:15 AM
Yes true, with the presence of bitcoin makes saving account. previously I had to transfer with high cost if abroad, but after the existence of the bitcoin then transfer fees of not more than $0.2.
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