Deposits-in the bank or in gold? - page 4.

fuguebtc

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Quote from: Inwestour on May 25, 2023, 04:22:37 AM

Quote from: fuguebtc on May 25, 2023, 03:45:24 AM

Nothing is absolutely safe and gold has its risks. If you hold too much physical gold and if someone finds out, you not only run the risk of gold theft, but it can also put your life in danger. Or in cases like natural disasters and floods, moving gold will be very difficult. So your assets are not necessarily safe when set all in gold. The best way is to diversify, as many have mentioned, that way, you will be able to reduce the risk. Gold, savings, stocks, or some crypto, it's the best way.

The same can be said about bitcoin, if you have a lot of bitcoins and someone finds out about it, then the outcome can be the same. Money loves silence, so you should make sure that as few people as possible know about your funds. If we are talking about a very large amount, then it can be divided into different wallets and stored in different places. Diversification is also a good way to protect yourself from various undesirable situations, and when possible, we should use all available methods to reduce risks for our funds.

Yes, everything is risky, nothing is absolutely safe. But if it comes to bitcoin, I like its advantage the most is its anonymity as well as if we want to store a large number of assets, it is completely simple with bitcoin. Holding too much cash or gold is really too risky for us, but with bitcoin, no one can know where our assets are except us. But bitcoin's risk is volatility and uncertain future...indeed, diversification is still the perfect solution.

durop77

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Look at bitcoin, which is growing, in any case you will not remain in the red. Deposits are taken away on the contrary, they even stopped covering inflation, the interest there is minimal. Gold is also a dubious investment, and there is also no point in constantly monitoring quotes.

Obari

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

I don't know the convenience in buying gold from the bank and holding over there but the truth is that over the time, I've always advised people to buy physical golds possibly in forms of jewelries and rock them to your satisfaction because if will never loss value but rather you shot two birds with just one stone.
What I'm saying in essence is that it would be better if you buy physical gold since your measure challenge is recession and bankruptcy and if you're buying gold from the bank and the bank is suddenly pronounced bankrupt, then there are still possibilities that your gold in the bank might suffer the same fate with the regular fiat in the bank.

Just as everyone might advice you, I will still add that you should try investing in cryptocurrency and since we're in the bear market, it wouldn't be a bad idea investing in it because if for nothing, there are news of bitcoin possible skyrocketing by end of the year or possibly early new year.

MarjorieZimmermanGinger

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Do something simpler if you have a much better choice, why buy gold in the bank if it is still available in the store? I understand your point regarding purchasing gold using bank services and in some areas banks also facilitate the purchase of gold as their product. But the problem is why do you have to take this method, even in a store that sells gold jewelry you can buy it independently and don't need a third party to facilitate it.

At present the economic condition is not good so that saving money in a bank does not provide any benefit, inflation and recession have made money lose value and it is often difficult for us to reach a more optimal storage stage when using a bank tube. While gold is a more reliable way to maintain the value of our currency, by buying gold independently you are trying to keep money from losing value and more potential for investment.

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Quote from: Dr.Osh on May 25, 2023, 03:13:47 AM

Quote from: BobK71 on May 24, 2023, 01:47:53 AM

When the world economy is collapsing due to the effects of inflation, people are confused and do not know what to do. They are withdrawing their money from banks to survive this recession. , inflation on the other hand has put the bank's bankruptcy in extremely. Practically, those who are investing in Bitcoin in this situation must have taken a good way, and many others have invested in Gold because they do not have good ideas about Bitcoin. However, since the unlimited supply of gold, its price may decrease at any time, but bitcoin suply is Limited, it will naturally increase its price and be the only guide to protect against inflation.

well, if we talk about the problem of inflation, then the way to save it is by investing, and the OP only gives gold options, so gold is an option to survive temporary inflation. however, if there was another option, many people would occasionally invest in crypto, particularly bitcoin.
Personally, generally, if economic conditions are normal, I choose to deposit, that is the safest way to save money, but when it comes to investment issues, then I will choose gold. however, if conditions are inflationary, the safest option is to choose gold to normalize.

Investing in gold is actually good like you said it can temporary avoid or survive the inflation. That's why if you're gonna invest into something it would be better to not put all your funds in one basket like the quote said. Because there's always a risk involved in this thing it's either loss or not. It always be better to have some alternative investment other than gold like you said crypto industry or real estate. It depends on how people handle the economic issues that might affect the money problems. Bitcoin is a complicated system especially if you don't have some background, people thinking buying gold or in real estate is just easy unlike Bitcoin so it's not popular even these days.

Inwestour

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Quote from: fuguebtc on May 25, 2023, 03:45:24 AM

Nothing is absolutely safe and gold has its risks. If you hold too much physical gold and if someone finds out, you not only run the risk of gold theft, but it can also put your life in danger. Or in cases like natural disasters and floods, moving gold will be very difficult. So your assets are not necessarily safe when set all in gold. The best way is to diversify, as many have mentioned, that way, you will be able to reduce the risk. Gold, savings, stocks, or some crypto, it's the best way.

The same can be said about bitcoin, if you have a lot of bitcoins and someone finds out about it, then the outcome can be the same. Money loves silence, so you should make sure that as few people as possible know about your funds. If we are talking about a very large amount, then it can be divided into different wallets and stored in different places. Diversification is also a good way to protect yourself from various undesirable situations, and when possible, we should use all available methods to reduce risks for our funds.

fuguebtc

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Quote from: Velemir Sava on May 24, 2023, 10:24:30 AM

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

I myself like Investing in gold can be a hedge against inflation, because its value tends to rise during uncertain economic times and this was also implemented by my parents first and has proven to perform well anytime and anywhere it can be sold and can also be used as collateral. For banks at this time there are lots of issues of being hit by a hyker attack and prone to collapse, especially those that are performing poorly and I take great care and always monitor so that my funds are not misplaced.

Nothing is absolutely safe and gold has its risks. If you hold too much physical gold and if someone finds out, you not only run the risk of gold theft, but it can also put your life in danger. Or in cases like natural disasters and floods, moving gold will be very difficult. So your assets are not necessarily safe when set all in gold. The best way is to diversify, as many have mentioned, that way, you will be able to reduce the risk. Gold, savings, stocks, or some crypto, it's the best way.

DrBeer

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Probably the most correct decision will be a deeper diversification of assets.
Let the bank deposit, gold remain. But add here cryptocurrencies, stocks of companies, currencies more stable than the currency of your country, buy real estate...

This is guaranteed to reduce the risk of losses under various scenarios of the development of the situation, and will also allow you to keep assets that are highly liquid, which is very important. Because expensive but a low-liquid asset will not help you if you need to exchange it

Dr.Osh

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Quote from: BobK71 on May 24, 2023, 01:47:53 AM

When the world economy is collapsing due to the effects of inflation, people are confused and do not know what to do. They are withdrawing their money from banks to survive this recession. , inflation on the other hand has put the bank's bankruptcy in extremely. Practically, those who are investing in Bitcoin in this situation must have taken a good way, and many others have invested in Gold because they do not have good ideas about Bitcoin. However, since the unlimited supply of gold, its price may decrease at any time, but bitcoin suply is Limited, it will naturally increase its price and be the only guide to protect against inflation.

well, if we talk about the problem of inflation, then the way to save it is by investing, and the OP only gives gold options, so gold is an option to survive temporary inflation. however, if there was another option, many people would occasionally invest in crypto, particularly bitcoin.
Personally, generally, if economic conditions are normal, I choose to deposit, that is the safest way to save money, but when it comes to investment issues, then I will choose gold. however, if conditions are inflationary, the safest option is to choose gold to normalize.

koleusdat

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Quote from: ChiBitCTy on May 09, 2023, 06:53:23 PM

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Neither gold nor bank savings accounts are a financial tool that are viable for trying to keep up with or surpass inflation. There is a savings account, or money market on the planet that pays a rate that is as high as inflation is..so that doesn't work. Gold, which should be bought personally, and only stored in a bank vault, not bought at the bank, is a hedge asset, and one that is not meant to be an investment, something that keeps up with inflation (while it certainly can in the right conditions, it's not it's inherent purpose, or shouldn't be).

So the answer to just be well diversified. Have a short, mid and long term bucket of money. Have money in savings, have some in physical gold and silver , own a retirement plan like a 401k, as well as a basic brokerage account to purchase things like individual stocks, own bitcoin....diversification is king.

Thank you for the competent answer, I also realized that it is pointless to carry it to the bank. The rate is even less than inflation, and it won't work out quickly in case of something, either, it seems that banks should want favorable rates to use our money, but in the end there is nothing profitable.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

I myself like Investing in gold can be a hedge against inflation, because its value tends to rise during uncertain economic times and this was also implemented by my parents first and has proven to perform well anytime and anywhere it can be sold and can also be used as collateral. For banks at this time there are lots of issues of being hit by a hyker attack and prone to collapse, especially those that are performing poorly and I take great care and always monitor so that my funds are not misplaced.

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People want to store their money in banks because they want to keep it and play it safe, but other people think the inflation rate sooner or later raises the value that you store in the bank will get reduce its value, so it's not ideal. Additionally, of it people think they have a good return because of the high APY, which is not compared to the different investments such as gold. As you can see, its value is continuously rising, so it's a better investment than the bank; if you have more options than gold, having different sources of assets makes easier for you to depreciate. Other than crypto use the trend currently in the market which easier to you to adopt if you are an entrepreneur mindset you'll look what people need and not what other business have already in your place.

BitcoinTurk

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Especially when we think about the banking crisis we have been going through now, I think that it is absolutely necessary to hold our savings with physical gold. Of course, I chose this option in line with the question of the OP. Gold is a non-supply commodity, although it has a limited supply(!) and will not be sufficient if all the citizens of the world physically demand gold. For this reason, I would like to state that I am on the side of the opinion that a basket should be made with commodities, cryptocurrencies and inflation-protected government bonds to protect savings from inflation.

BobK71

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When the world economy is collapsing due to the effects of inflation, people are confused and do not know what to do. They are withdrawing their money from banks to survive this recession. , inflation on the other hand has put the bank's bankruptcy in extremely. Practically, those who are investing in Bitcoin in this situation must have taken a good way, and many others have invested in Gold because they do not have good ideas about Bitcoin. However, since the unlimited supply of gold, its price may decrease at any time, but bitcoin suply is Limited, it will naturally increase its price and be the only guide to protect against inflation.

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Quote from: Kadal Ijo on May 23, 2023, 09:10:16 PM

I think the easiest thing to deposit money is in banks, if we deposit money in gold then we need security because we have to protect gold, in contrast to banks which have better security, of course the positive side of gold is that we have the opportunity to profit because the increase in gold can reach 8 % per year.

about the benefits, it is clear that by buying gold the value will be better than when we keep money in the bank. but agree with you my friend, the security risk that will be obtained by spending our money in gold by saving money in the bank, it is clear that our money will be safer to put in the bank. I think the value obtained from the Bank with the increase in gold is not significant at this time, what is more profitable is that if money is put into crypto, it only takes patience to wait for the increase, which is indeed quite long.

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Quote from: Uruhara on May 23, 2023, 01:19:48 PM

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Due to inflation many people are already hesitant to keep money in the bank, and they prefer to buy other assets such as property and other valuables and some people also invest in the crypto world, and buying gold in the bank is also very risky and I prefer to buy in stores directly and without any bank intervention, Because inflation will be a big problem for all of us for certain bank service users, so my advice is better to buy some Bitcoin to store and it will be more profitable in the future.

Well, the interest in investing in bitcoin seems to have increased rapidly. Especially after seeing the large number of large banks that have gone bankrupt. Making people really start to doubt the security of keeping their money in the bank. And saving money in the bank also certainly will not make someone safe from inflation. Due to the fact that fiat money continues to depreciate in value today. So saving in the form of physical gold is the best for savings. And maybe some of us also keep it in bitcoin as a long term investment. it's just that I don't recommend keeping all of our assets in one basket. we have to divide it in several assets.

it's tempting to gobble up the idea of Bitcoin as a safe haven against inflation. While it's true that many people, perhaps even your next-door neighbor, are diverting their assets to Bitcoin, we shouldn't gloss over the inherent volatility of cryptocurrencies.

That said, you've made a compelling case for Bitcoin as a hedge against inflation. True, the value of fiat currencies is perpetually playing a dangerous game of limbo, shrinking with each passing year. However, Bitcoin's scarcity mirrors that of gold, making it the 'digital gold' of this era. Although, I'd wager to say that unlike your grandpa's gold, Bitcoin doesn't make for a very good paperweight!

Let's not neglect the 'not putting all eggs in one basket' wisdom, though. Diversifying your portfolio is as vital as eating your veggies. It's a mundane task, but your future self will thank you for it. Think of it as a financial buffet where you need a healthy mix of investments, rather than gorging on just the crypto meatballs.

Kadal Ijo

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I think the easiest thing to deposit money is in banks, if we deposit money in gold then we need security because we have to protect gold, in contrast to banks which have better security, of course the positive side of gold is that we have the opportunity to profit because the increase in gold can reach 8 % per year.

Uruhara

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Due to inflation many people are already hesitant to keep money in the bank, and they prefer to buy other assets such as property and other valuables and some people also invest in the crypto world, and buying gold in the bank is also very risky and I prefer to buy in stores directly and without any bank intervention, Because inflation will be a big problem for all of us for certain bank service users, so my advice is better to buy some Bitcoin to store and it will be more profitable in the future.

Well, the interest in investing in bitcoin seems to have increased rapidly. Especially after seeing the large number of large banks that have gone bankrupt. Making people really start to doubt the security of keeping their money in the bank. And saving money in the bank also certainly will not make someone safe from inflation. Due to the fact that fiat money continues to depreciate in value today. So saving in the form of physical gold is the best for savings. And maybe some of us also keep it in bitcoin as a long term investment. it's just that I don't recommend keeping all of our assets in one basket. we have to divide it in several assets.

wajik-tempe

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When it comes to generating interest on gold, it's crucial to remember that gold does not create income in the same way that a regular savings account does. However, gold-linked financial instruments, such as gold-backed ETFs or gold-based savings accounts, can generate some returns. These alternatives differ based on the nation and financial institutions you have access to.
Banks provide several deposit choices, but they do entail some risk, including the threat of bank bankruptcy. Purchasing gold, which has historically been seen as a store of value, can be one technique for hedging against inflation and protecting wealth.

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For cryptocurrency users, of course, it is a question that is very easy to answer because deposits in banks or buying gold in banks are things we will not do because we will prefer to invest in bitcoin which is able to provide large profits even though it all takes a long process and this is not a problem for those of us who really want to store assets that we no longer use, and will increase in size if the price increases.

Topic: Deposits-in the bank or in gold? - page 4. (Read 1405 times)