There's no interest holding it on your own and if you'll put that in the bank, it is the banks that will earn from it and they'll give you a share.
Yeah, a little share from your own money that has been deposited on them and used for loaning their customers. That's why if you have extra cash and you want to grow it, invest in on crypto and if possible, don't go far but buy bitcoin.
bank interest between saving and borrowing is very striking difference. banks collect money from people who save and lend it back at a higher interest, so if you save and want to make a profit, I think it is not wise, the deposit interest is still relatively small when compared to the loan interest. therefore investment is the main choice to develop our money
That's what I've just said.
It is the usual cycle that's why many of us who owns crypto are lessening our cash flow due to that fact and we've chosen to put that savings into crypto.
Because there's more sense to it and if you've been in crypto for quite a while and you've held that long, you'll have that decision that it's better than the traditional style of saving and investing.
Although saving in traditional money is the most correct, in my country that word or that action "Savings" does not exist, firstly because of the local currency, which is impossible to save there due to high inflation.
When a country has high inflation problems, particular economies tend to look for many alternatives, but there is no room for savings, when we talk about crypto, only for those traders who achieve at least 6% quarterly would be accumulating 24% per year, that is, , more annual interest would be generated than any bank in the world, then the BTC or any cryptocurrency can become the best saving method, even in countries with very prosperous economies.
I'm thinking about Venezuela but it's more in hyper inflation so I'm taking a guess from which country you are residing but I can't think of it.
But anyway, it is true that when a country is dealing with high inflation, savings isn't going to work. You have to look for some ways to grow your money through investments because if you've got $1000 in savings on that country, the value of it by next year or so will eventually decreased. It's still $1000 but you will buy things soon lower than that value as inflation increases.
