Topic: Is Bitcoin a Safe Haven for Your Money? - page 2. (Read 1585 times)

When I got to know bitcoin I still doubted the security of my money, but over time, and I learned a lot and looked for ways to strengthen the security of my money from thieves or frauds, in protecting my important assets, if I think they are really needed in the world technology at the moment, even though there are a lot of fraudulent investment offers out there that are so tempting, it doesn't mean that our money will be safe, but what we have to think about is adding security better than before.

In my opinion, stay away from investment offers that smell like fraud !!

Even if the value of bitcoin keeps increasing, i'll still believe that bitcoin won't be a safe haven for my money. There is always risks in it and you don't have any guarantee that if you put your money in it, you will reap  good returns all the time. It's either you will gain huge amount, or even lose all your money in just a click of an eye. But if you choose long term holding, there are chances that you will make good profits but it takes more patience and understanding of the market for you not to feel depressed since the market can be crashed anytime.

Just like any unstable situation in the world affects the price of the dollar, it will also affect the price of bitcoin. A person is looking for an opportunity to save their money in such a period of time and, accordingly, at this time, the demand for bitcoin increases, which leads to an increase in its value.

I believe that a safe depository for my money can only be that valuable product that is valued not only at the moment, but will always be valued due to its relevance and its valuable properties.  Perhaps my words will provoke indignation among users of cryptocurrencies, but First of all, we are talking about gold, as a noble metal that has been valued throughout the life of mankind, and during the development of civilization it is valued even more due to its physical properties, which are used in various areas of human activity,  including in high technology and in the space industry.  Nevertheless, Bitcoin for me today is a very valuable investment, because I am confident in the prospects of cryptocurrency in the future, and especially in bitcoin.  Nevertheless, I slightly separate these two concepts, because profitable investments and the safe storage of my funds have really different concepts for me.

The choice of investing is individual decisions and we have time and again heard cries from people about missing out on investing on bitcoin when the price was really low and even after the last rally the market gave plenty of opportunity for anyone who wants to invest in the market and even then if someone is not able to make a wise decision to invest in bitcoin, then it is better for them to stay out rather than going at it when the market peaks and then cry out that they lost their money when the market goes down.

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@ OP You cannot consider any financial market as a safe heaven as you never know what will happen and so is the case with bitcoin.

Its definitely a safe haven when the alternative is the bolivar or the petro. One is the fiat with the world's worst inflation and the other is a "crypto" so centralized it makes ripple look tame, also managed by the very same people that induced the hyperinflation and are giving it the treatment. Sure some people are (somehow) simply getting US dollars or Euros, and the gov now wants to tax them 25%, so its back to "parallel" market fees again... Yes they also want to tax that to bitcoin and anything else non petro. Its their "way" of stimulating petro use, by intimidation or force (yet another reason to dislike gov made altcoins). Some people seem to forget it was their own gov that made and control their fiat in the first place...

Bitcoin and others are instant. Getting foreign currency? Not so much. Storing them in a cold wallet (a paper with seed words) is far safer than using a bank that can be seized by the gov at any time, because they can and they have the guns and you don't.

Of course this also means you have to be careful using or exchanging Bitcoin, as those are the weak points which is not truly bitcoin's fault but the fact that not everyone is a directly accepting it yet. If people here used bitcoins the way they are now using foreign currencies, a new world would open. But people are hard to change.

Short-term thinking or long-term thinking, bitcoin is still a safe haven because the main trend of bitcoin is still a positive state and going up very often, so if we invest in the short term or the long run, we still have plenty of opportunities to exit the market without too much risk but this is only temporary safety when the statistics provide such a view. The nature of bitcoin is still tilted toward investment, instead of a place to store money, many potential risks can still occur over time, we should limit the storage here to ensure safety

Bitcoin may be a safe haven, it is a good place for money, but it is risky and have drawbacks. Bitcoin has been a good benefit to every enthusiasts throughout the years it is existed, however, its volatility makes it a risky move to store and invest money with. Also, due to the fact that it a product of modern technology, where misconduct of using illegally acquired information has been bombarding all over social media, it is prone to hijacking of personal information. Nonetheless, Bitcoin is a safe haven but not yet the best.

Actually we can say that bitcoin is really a safe haven for those people who wants to invest money on a long term process in which it is very good for those person who are already open minded to earn profit in a long term investments so they can called it an safe haven for their money otherwise it is not good for those people who wants to have a short time money investment because this bitcoin is for those people who really wants to earn on a long term process and for their future also.

The user on the above comment didn't even mentioned about storing his Bitcoin on an exchange, and the issue/concern in the topic isn't about the security of the exchanges but the security of your money invested in crypto space generally.


No investment is safe specially if you don't know what kind of investment/market you're into. It's never wise if you avoid investing in Bitcoin as well. 

Absolutely no, we all knew the risk in investing in cryptocurrency so we cannot called it safe haven when we invest in bitcoin. Though I fully believe in bitcoin and that it will become mainstream in the future, I still think there are risk on investing on it. There is still a chance that bitcoin will not do good in the future. But if I will to choose, bitcoin or altcoins then obviously I will go with bitcoin. As per investing in cryptocurrency bitcoin is the safe haven and not an altcoins or stablecoins.

From a security point of view for Bitcoin funds, the cold wallet is always recommended, the Exchanges are also safe in some ways, there will always be vulnerabilities, for the issue in general, cryptocurrencies or bitcoin in this case it turns out to be Very safe at the moment in countries with high inflation and with everything that has triggered in China by the epidemic makes people rely more on Bitcoin as a safe haven.

Hell yes, cryptocurrency is never safe to store your life savings. It is only safe if you use the proper cryptocurrency exchange. Not every exchange is safe and reliable. I recommend to use one of the most well-known exchanges like for example Kraken or CoinDeal. The second one even has the VQF Swiss License. Another thing is the way you store your coins... The best way is to store them in the hardware wallet. Then you can feel safe, but as I've said there before - it's not the best way of storing life savings.

It seems to me that bitcoin is government resistant because the more government try to ban it, the more popularity bitcoin gain, and if government want to control it, then better for bitcoin, because that is just another level of attention bitcoin could get from government and it will keep thriving in a positive way for holders, with or without governments.

For me personally, i do not see bitcoin as a safe haven for my money. I see bitcoin as a long term investment option for my money.

While i recognize stable coin like usdt or tusd as safe haven though for short terms

Just to clear things out, Bitcoin is a digital currency and is more of an investment due to its 'active' market value. If it is safe haven, go for bank accounts because in such way you won't lose money unlike in Bitcoin wherein there are changes in its market value from time to time which serves as a risk unless you are using Bitcoin to earn profit someday as its market value is growing. A 'safe haven' is meant for securing something, meaning there are no risks of 'losing' it.

Bitcoin is a good investment, but I wouldn’t call it a safe haven because there are risks and you can lose your money at any time. Bitcoin is a volatile investment, though it has proven to be quite good on a long term, depending on when you invested. Those that got in at the lowest price usually make good returns after they have Hodl for very long time.

It takes proper analysis to predict when the price would be at the low and you get in and hold till it increases. If you’re looking for safe Investments you should be looking at gold, silver, lands. Land is a good asset, and I do invest in it and where I live they are worth really big when you sell them after a while. Was definitely worth the investment.

In fact, he had a pretty good idea about bitcoin in the future. what he said was completely grounded. The beginning signs for WW3 between the US and Iran have made gold and bitcoin simultaneously grow. And even more praiseworthy, the capitalization of bitcoin has actually increased and bitcoin dominance has increased dramatically over the past few days. it shows that there are new investors here and willing to buy bitcoin. If this continues in the long run, I believe the crowd will soon accept bitcoin as digital gold in the future. And then we will have 2 options to retain our fiat money.

According to the Book of "A Random Walk on Wall Street" diversification is usually a very interesting topic, the bad thing is that the book is from the year 1970 and although its advice is excellent, the economic reality is very different, by that time, the Bonds was a safe way of investment, but after the 2008 crisis where they mostly say that the fault was with the banks, they claim that another crash will occur again. Given this, for now the best diversification lies in Real Estate, Gold and Bitcoin, they are the best options in terms of diversification, and in terms of more ease of handling bitcoin influences as the best option.

Each and every asset out there is volatile. If you want to go for a stable asset, then you need to invest in treasury bonds. Everything else, including gold, real estate, stocks and even antiques are volatile. But the level of volatility vary from one asset to another. Cryptocurrencies are a bit more volatile compared to the others, because the market has not matured yet. On top of that, the daily trade volumes are quite high when compared to the total market capitalizations. For assets such as gold, the daily trade volumes are less than 1% of the total market cap, and this keeps the volatility in check. But with Bitcoin and the other cryptocurrencies, it is not possible.