I CHOSE BITCOIN INVESTMENT OVER BANK INVESTMENT - page 8.

Balayashi

newbie

Activity: 53

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Quote from: OSEIBOATENG on July 11, 2018, 03:26:44 PM

Knowing the crypto world was the best thing I have ever done. Today I was given an amount of $20000 by my uncle to make an investment for him at the bank so that by the end of the year he can get some additional money added to his capital. I sat down and calculated and found out that, investing at the bank will give him just $2000 interest.

I then called him and explain to him about cryptocurrency and how secured it is with evidences and it price increment for last year. After seeing it he told me to invest that amount into BITCOIN and I have done it for him. I know that is volatile and can fluctuate but I made time to explain to him that although the market is red now but when the green days come he will get not less thank $25000 added to his capital. I know I did the right thing and he will surely laugh some days to come. What do you think guys?

You can get a interest of 10% per year over the amount? Where i live for what i seen latelly u can only get around 4% max and its deposits with some restrictions.

It quite depends on how secure you want the deposit to be. The investment in crypto can be very volaltile, on a side you can get like alot of %, on the other hand you can end the year in alot of loss.
In the bank, unless the bank goes solvent, you dont havr that problem. Lower but more secure profits.

KINGCHACHA1

jr. member

Activity: 489

Merit: 1

If you keep your money in the bank as fix deposit expecting interesting you will be very disappointed by the interest rate. I think keeping money in the bank for the purpose of getting interest is for lazy minds. There are so many things to do in order to get a better profit.

ggg123

sr. member

Activity: 375

Merit: 250

Same here. Investing in bitcoin inspires me from the first day and it helped me to gain much more money comparing to a bank investment. I’m open for new investment methods and i think btc is a great option.

indoagung88

jr. member

Activity: 294

Merit: 1

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after you take a choice (bitcoin), of course now you can feel it. if you can't conclude at this time, wait for some time when the jump occurs, and you will make your uncle laugh more with your choice. success

Lucasmcdonnell87

newbie

Activity: 28

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I think you doing a good thing but you will take a big responsibility if its have something risks happen.

trauchot

member

Activity: 1764

Merit: 10

If he does not feel sorry for this money, then you made the right choice, but if this money is very important to him then you will have to wait and hope that the market will soon rise and give a profit. Banks are still more reliable, but the profit is minimal, but bitcoin can shoot at any minute and also bitcoin can fall down very fast. It all depends on the desires and of what the investor wants.

Syarief28

newbie

Activity: 70

Merit: 0

when you know that there are losses in the trading system, I suggest you can give you directions if this business can lose. because I see your uncle wanting an investment that can really grow the existing capital. Be careful not only to see in terms of profit, and you must know the risk if it happens.

Brandon Thompson

newbie

Activity: 22

Merit: 0

Investing in banks is less risky than investing in Bitcoin. Banks system are doing well and still the pumper of economy. You can earn profit quicker by putting money into banks. Banks system is still indispensable to every economy. It plays the role of regulating money circulation and give suitable monetary policies when the economy need despite the emerging of cryptocurrency like Bitcoin which remove the need of third party like banks. However, which is better an investment, Bitcoin or banks, is depends on you and your ability to take risks.

Janet Tabicas

newbie

Activity: 38

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Compared to banks investment, Bitcoin is riskier but more profitable. You can lose everything or you can make a killing. One certain thing is Bitcoin is a long-term investment, so it requires you a lot of patience. As for banks, I'm not sure that whether banks share is a good option, 'cause it depends on which banks and which country, While some banks in developing countries are in the red, several one-time banks in developed countries have to make a lot o exertion to compete with digital banks.

Myown55

jr. member

Activity: 105

Merit: 1

That is the wisest move you could have ever made. Again it is good that you explained clearly the nature of the business to your uncle.

RomanPetrush

full member

Activity: 630

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Investing at this stage in crypto is with a high risk but more profit. I'd not lie to uncle, I would say to him that very good investment strategy is 50/50. On crypto and bank.

_w_b_t_

jr. member

Activity: 63

Merit: 1

Something better, something worse. If you see an advantage in General, it does not mean that other people think the same way. And how people think-it decides what happens to the prices.

anatolykarpov

member

Activity: 266

Merit: 12

Same with me. I don't trust banks. They are selfish and greedy. I'd rather invest in an awesome technology such as Bitcoin.

Kimi80

sr. member

Activity: 750

Merit: 252

If just hypothetically things with Bitcoin doesn't go well and its value drop down and stuck on some unpredicted level for some time your uncle may lose faith on it. Some money too if he doesn't believe in its recovery and withdraw invested because of that current situation. For example, people used to buy Bitcoin in January this year when the price was 10,11 hundred, waiting for price to raise on 15 or 20 hundred like it was month ago.
I think that placing the money in the bank is safer to get some interest, smaller amount but it will be on your account at the end of the year. I also think that you want only the best for your uncle but I could suggest you not to do such a thing with other people money, you might get yourself a headache for just wanted to help.

Kimi80

sr. member

Activity: 750

Merit: 252

If just hypothetically things with Bitcoin doesn't go well and its value drop down and stuck on some unpredicted level for some time your uncle may lose faith. Some money too if he withdraw invested because of that current situation. For example, people used to buy Bitcoin in January this year when the price was 10,11 hundred, waiting for price to raise on 15 or 20 hundred like it was month ago.
I think that placing the money in the bank is safer to get some interest, smaller amount but it will be on your account at the end of the year. I also think that you want only the best for your uncle but I could suggest you not to do such a thing with other peoples money, it is not a good thing, you might get yourself a headache for just wanted to help.

HitMarshall67

newbie

Activity: 56

Merit: 0

It is a very wise decision that you have taken and personally i also do the same thing because in bitcoin i can control it but in bank it is beyond my control.

112tigra112

member

Activity: 238

Merit: 10

In my opinion banks in the last thing would be more secure and guaranteed you will get your money back, but bitcoin investing would be so much more perspective and promising, you can get more money from it then from a bank.

kinhdolaos

newbie

Activity: 27

Merit: 0

That will be the best choice of your life because it's obvious that if you're patient enough, you can earn a lots with bitcoin

BennieMartin

newbie

Activity: 57

Merit: 0

I really appreciate your decision because risk are every where but if we are thinking about big profit within a short period then there is no substitute of bitcoin.

naily

member

Activity: 350

Merit: 10

for investment in both local banks and crypto currencies is a choice, all have their own advantages, in the bank you will get an interest that is guaranteed by the bank, but if in bitcoin the price is unpredictable, because in bitcoin you need patience

Topic: I CHOSE BITCOIN INVESTMENT OVER BANK INVESTMENT - page 8. (Read 1433 times)