Topic: Save in Stable Coin Or Save in Local Currency? (Read 345 times)

Brother, it really depends on which local currency you are talking about because as you the USD or other stablecoins in the market are pegger one on with the fiat money so to decide whether you should keep your money in the bank as local or keep your money in the crypto custodial wallet as USDC or any other stablecoin whatever you like.

A factor that most of the seniors and other fellows are mentioning and my view as well it is what is the inflation rate of your currency, If the inflation rate in your country is higher than the stable coin pegged with fiat that you are choosing then you can have a better position in stable coin because it will decrease the inflation as well it can open new door of the crypto market where you can even make good profit by efficient trades as buying BTC on the start of month and selling on a higher price when you need the money it can happen in reverse as well some be careful.

But the point is if you are holding stable coins you should prefer at least Holding a particular portion in BTC, if you have some skills you can prefer some risky investment as well. If you choose stablecoins to avoid maximum inflation and after that, you hold the BTC portion that will not be called only your savings, or Holding it can be an indirect investment. In a specific time like now, this investment can make 50% or 60% profit as well in a few upcoming months.

Haha this is how journey starts from the inflation mininzation to the crypto investment and making something good.

Both stablecoin and local currency are centralized so both of them cannot be trusted because they are controlled by the exchange of the central bank. But I will choose a local currency especially if it is dollars, pounds, or euros. These currencies experience less drop in value and are relatively stable.  My reason for preferring to keep my money in the bank is that banks are insured by deposit insurance. This means depositors can get back their funds from the bank in the case of bankruptcy or financial problems. The accounts of commercial banks are regularly audited and open for public view but these exchange operations are sometimes kept secret from the public. The best option will be to keep your money in Bitcoin because it is under your control and has a history of price appreciation.

All you need to do is do some simple calculations to figure out where your money is best

Stable coin like USDT is pegged to the dollar so if there is inflation in your country you will not suffer because you have your money in dollars. In this case it will be better for you to hold stable coins. And now you get up to 3% interest if you stake USDT on Binance or other trusted platforms.  Which is much less than banks and with risk.  Because usually 5-12% interest is available from the bank, the interest is much better and keeping money in the bank is much safer than crypto assets. So if you want to invest in stable coin then it will not be logical now.  But if you want to put money in potential crypto assets like Bitcoin, they will give you more profit than banks but here you have to invest according to the risk.  So now you think to yourself where you should keep your money

If you are trading then you have to keep money in stable con and trade with them then you can calculate your profit.  However, if you want to hold your personal money through stablecoins, it may not give you a good experience and there are a lot of risks involved, so in this case, keeping money in a bank would be a logical thing to do. The price of Stable Coin is stable and if you exchange less dollars here then you will not find the difference here but if you keep more dollars then you will find some difference during the exchange because the price of USDT will drop to 0.99-0.98 many times. As can be seen, it does not stay that way for long. Also a popular StableCoin like UST has been seen to crash.  So in my opinion it is better to keep money in bank if you don't intend to invest

I would say, diversify.
I don't know where are you from but if your local currency is EUR, USD, GBP - you should be fine, if your country is.
The best plan would possibly be to split into 2 currencies (like euro and usd) and probably to keep some in stablecoins also. I would personally add a little bit of bitcoin, gold and silver. Maybe, invest some in stocks.

Anyway, make a plan, google, ask AI, watch youtube and diversify.
Split in like 20%-20%-20%-20%-20% and you should be SAFE.

Keeping from both could still lose them value as you wait for the right time to invest and buy BTCitcoin. There are two descriptions of safety that you are asking. Safety from the volatile and safety from cons. If it's with stable coins, you'll still possibly gonna get hacked by a hacker/con and that's a safety issue. While the same goes from the banks if you're someone who doesn't care about your browsing activity and you're entering important details and likely to be a victim of phishing then you're not safety at all. I'm just expanding the safety measures and precautions that you probably don't know yet prior to your investing plans.

NO and NO - I think I was clear about what I think about altcoins, as well as the so-called stablecoins. I also wrote you very clearly that I am not here just for profit.


What comes from sig campaigns is more or less irrelevant in my financial picture, because I invested in BTC back when it was only worth a little more than $200, and these investments enable me today to pay for various goods and services in BTC. As you can see, not everything is as it seems, you can actively spend BTC and at the same time use it as an investment.

Don't you invest in alts? Don't you convert your profits to stable coins to later get back to btc? Do you just accumulate via sign campaigns and hold your btc in your wallet until death devours you and then in ghost realm you feel better by contributing to Bitcoin ecosystem by your HODL strategy (I'm not too sure, it just appears so from what you wrote)?

Thanks for the correction, I guess my explanation sucks. I meant to say the naira has gotten weaker over the years when compared to the US dollar. Back in the days way back to 1972, $1 was worth N0.65, but today one dollar is about N905, so you could see how weaker the naira has become.

The truth be told we cannot not do without fiat, we use it in most of our day to day transactions. I also know that both of them are centralized and stablecoins can be freezed as well but it's something that seldomly happens. In most case scenario, it occurs when a coin is stolen by a hacker. There are other coins I would like to use to save my assets like Bitcoin because it's decentralized nature but in comparison between stablecoin and fiat, I would keep more of my savings in stablecoins.

I didn't even think that you had any other goal like most of those who are on this forum and outside it. In other words, you and others like you invest in everything that can bring you profit, regardless of how much these things are in their essence completely opposite to what Bitcoin represents.


I am more for the idea behind something than exclusively for the profit that can be realized only because something has the potential to be profitable. What I want to say is that we are not all here exclusively for profit, no matter how unreal it may seem to you and to all those who read.

Yes, I have something in my signature that I promote, but in the last 3-4 years I spent maybe 1-2% of everything that came from that source.

My goal is also profit alone, and I don't think eth is going anywhere, time will tell.


I see more potential of profit in eth than btc, so I choose it and not Bitcoin. Regarding last statement, this forum is filled with Bitcoin maxis anyway, what are you implying?

Truly, we learn everyday. I appreciate all the replies here. Thank you all.

It seems that you have a lot of faith in a cryptocurrency that is practically heavily centralized and based on POS, and something that can cease to exist at any moment if some angry bureaucrat in the US gets off on the wrong foot. The private companies behind such "products" are after all only private companies whose goal is only profit, and they do not have nearly enough resources and competence that for any reason you trust them more than some currency backed by a powerful government with its strong economy.


I don't see a reason for that since I found out that there is something much better than both of the above, but everyone chooses their own way of storing value - someone will say Bitcoin, someone $, someone else will invest everything they have in a herd of goats or sheep.

You could end up doing both. That way, if you want to trade or deposit into any crypto exchange, then you can easily use your stable coin without the hassle of converting it. Or if you want to save for your future or retirement, putting some of your money in a bank is a safer choice but never expect that you will get a higher interest added on your savings. At least, be cautious of the risk that these two brings so that you’ll not end up regretting. Learn how to manage those risks if your aim is to maximize whatever effort or amount you are putting into it.

As things are right now (in today's reality) saving in Bitcoin, stablecoin or Domiciliary (dollar/pounds) are better options. With the level of inflation hitting us, here I talk as your compatriot, our local currency is taking a severe beating against foreign currencies. Keeping it in the local currency means devaluing it so to say. It loses value daily. Again, the banks have a kind of inexplicable kleptomania where pilfering of customers funds on sundry charges seems to be a second nature to them now. If kept in the local currency, one has banks and scammers to contend with, coupled with its losing value. Domiciliary isn't faced with all that. Scammers and banks steer clear of it. Bitcoin is on a steady rise as we're getting prep for a bull rally. So, the hedl Bitcoin is most likely to appreciate.

It depends on your preference because I don't see a difference between keeping your money in local currency and in a coin. Both serve as money because you can use either to invest, and keeping money in a bank account is very safe because the government controls it. Nothing will happen to your money. However, keeping money in a coin like the USDT is not also bad as long as you have a good wallet and are competent enough to keep your money safe. However, as a new member of the forum, I will urge you to leave your money in the bank, learn how to store coins, and also how to invest, as doing so would, in my opinion, be extremely safe for you.

I'm not saying that keeping your money in USDT is a bad idea, but as a beginner, you need to understand how to keep yourself safe. Many people have been scammed more frequently using their wallets than their banks, and most of the time, newbies are the ones who fall victim to these scams because they are the ones who are most likely to enter links that are sent to them by con artists. I thus suggest that you wait and store your money in a bank until you are confident that you are clever enough to hold a coin, at which point you can exchange it for USDT and invest your funds.

I think that "the goal" is missing in this case from your equation.
what do you want to get from this type of saving?
Protect capital against inflation? earn interest expense? fear of problems related to the stability of your country?

I personally would avoid to hold value in stablecoins than in other ways. 
The absence of clear regulatory clarifications or international agreements is not an easy thing.
Moreover, not only are you trusting the stability of the FIAT sector, but you are entrusting yourself to a company that asks you to accept a ToS...

Well I see too many complications...

Fair enough, but mind you that the dollar isn't rising per se, because it is also affected by inflation, the thing is the Naira is falling faster than the dollar, or in other words it is in a worse situation that the dollar, thus when you compare it against the dollar, it then seems as if the Naira is dumping, whilst the dollar is rising (which actually isn't the case).
Stable coins are also centralized coins and you can be denied access to it, the issuers can actually freeze it in absolutely any wallet you decide to hold it in, and not to talk of the obvious fact that it can be depped at anytime.
There's nothing wrong in paying the service fees for these services you just mentioned.

I would save my money in stablecoins rather than fiat because of the following reasons:

• The value of my local currency is constantly falling against the USD dollar, with inflation on the rise my savings in fiat might not really worth much. Having my savings in stablecoins, as the dollar is rising against the naira, it gives me the opportunity to get the current exchange rate whenever I have need for my money.
• Stablecoins have easy accessibility and usability. That cannot be said about fiats because banks sometimes do have network challenges and one could be denied of his funds whenever this occurs.
• The maintenance and transaction fees are just too much which might varies in different countries. Banks in my country charges monthly card maintenance fee, funds deposit and withdrawal fees and also they charge you a particular parcent for every transaction you make.

There is nothing bad about your opinion. I see you are trying to be on the safe side which is not bad because no body would watch and see the value of their assets depreciate. You see if your local currency has lost its value and is declining it is best you save or convert to a stable coin and keep it under your watch. I believe smart traders does this too because it is a way of minimising or controlling loss.

However, if you feel like it is good taking advantage of the current market situations, you can opt for Bitcoin if you plan on holding for a long term that would give you time to make more profit while you watch your investment grow.