Save wisely this year, piggybank or piggybitcoin

uche6215

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Quote from: PhilixCrpt on January 29, 2023, 08:27:48 AM

So much lessons to learn from your experience. In Nigeria, there are lots of people who prefers keeping money at home than taking it to bank or investing it in Bitcoin or other Crypto platforms. However, gradually, things are beginning to change and people are becoming wiser through a platform like bitcointalk that gives a global freespace for people to share views and educate each other.

The World will become a more better place for all of us soon as we continue to share and gain knowledge globally because knowledge is power.

Yes in my country Nigeria many people prefer keeping money at home than taking it to bank. But now things are little different. http:// [url]https://www.itnewsafrica.com/2022/07/the-top-10-african-countries-with-the-most-crypto-holders//[url] if you check Nigerian is one of the top African country to invest in Bitcoin.
So investing your savings on Bitcoin is not bad but it's not 100% save because you might get lost.

mich

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The importance of saving should be instilled at a young age, it is like purchasing a piggy bank and putting a single dollar in and you can continue habitually putting the money in. Money is a tangible and very important asset and saving every single penny you earn is important.

Why to save money is the hardest to think about, save for unforeseen situations- having an emergency fund is important. To meet your life goals, having a family, having kids is costly to having money for education. Having money set aside can give you a leeway if you are in between projects you have savings you can have a cushion until you land a new gig. Saving your money is important and the rewards in life are beneficial, you just have to have the courage to do it.

geeyow

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Quote from: Ucy on January 31, 2023, 05:52:32 AM

Depends on what you were planning to do with the money saved in the piggybank. Better to put your money into good use by solving problems with it or invest it on those/things that could use it to solve problems properly and profitably.

What the heck are you talking about? OP already mentioned he wanted to invest in Bitcoin to save his life savings instead of letting it get eaten by termites if he uses cash/fiat. That in itself is him solving his problems.

Quote from: Ucy on January 31, 2023, 05:52:32 AM

also make sure it's with the right intention which is typically for the good of the Bitcoin Network and its members.(and societies at large).

OP choosing BTC instead of fiat is already good for the Bitcoin Network and its members and again, as mentioned above, his intention is already right.

@OP, BTC isn't your only option. Though, a little bit risky, plenty of Altcoins also offer viable and profitable solutions such as staking + compounding interests.

Ucy

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Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

Depends on what you were planning to do with the money saved in the piggybank. Better to put your money into good use by solving problems with it or invest it on those/things that could use it to solve problems properly and profitably.
If you put the money in so called piggybitcoin, also make sure it's with the right intention which is typically for the good of the Bitcoin Network and its members.(and societies at large). Don't build up riches/wealth or save money in this World for selfish reasons or for yourself.
By the way, if you believe in GOD, you will benefit greatly by asking HIM to store up your good rewards
in Heaven in perfect security, which you can always access whenever you need to. Not a good idea to build up your rewards for yourself in this World.

“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” — Matthew 6:19-21 KJV

famososMuertos

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No, no, we are in the 21st century, those old outdated messages should not persist, it is incredible that someone still even uses this type of methodology that even banks sold in their customer acquisition under the scheme we give you your piggy bank.

Keep the concern to mobilize your Fiat money, it is not a matter of x countries it is global, money today is devalued anywhere in the world, 5% may not seem like much... for stable economies, imagine for countries that have inflation of 2 and 3 figures.

bittraffic

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It's only this few years back that piggybitcoin makes sense but in the past, it's always the cash that is the king. Things happen when you least expect it such as termites lol It's not too late to DCA BTC though. It's a lot more exciting to save some BTC because there is a growth of price than just saving fit money which eventually the value decline.

Phyna4

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Quote from: pakhitheboss on January 29, 2023, 09:36:45 AM

What a stupid way to reveal to the whole world your heights of stupidity by buying a piggy bank! LOL Grin

Another folly you committed by creating such a topic and expecting merits. I am not sure what made you think doing such a silly thing investing in a piggy bank that gets eaten out. I also feel that you do not keep your house clean as you fiat got eaten by rodents while expecting a fortune in your sleep. It is another classic case of being bitten the hard way and then realizing the reality. Welcome to a decentralized economy the hard way!! Cheesy

I thought this platform does not accept derogatory words. Anyways, your words says a lot about you. Next time choose your words carefully.

crwth

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I have seen a post like this on social media that ate the $20 bills that he has kept for quite a while. I read in some comments that you could have it replaced. I'm not sure if it would still be possible to be replaced by the central bank, depending on the country, but wouldn't it be possible to have the issuer of it in your country replace it?

Anyway, it's a good idea to invest in BTC knowing that the total supply is limited. Get more!

Mr. Magkaisa

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Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

- What I'm doing now is that I'm saving bitcoin every day for 0.0001btc and then I'll sell it when the bull run season hits hard. It may be small but eventually, I believe that its value will also increase, then bitcoin is proven and tested so I'm doing it honestly.

Because I can't afford to buy 1 bitcoin myself, so it's just little by little and at least I'm saving something in my wallet using the Electrum wallet.

pakhitheboss

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What a stupid way to reveal to the whole world your heights of stupidity by buying a piggy bank! LOL Grin

Another folly you committed by creating such a topic and expecting merits. I am not sure what made you think doing such a silly thing investing in a piggy bank that gets eaten out. I also feel that you do not keep your house clean as you fiat got eaten by rodents while expecting a fortune in your sleep. It is another classic case of being bitten the hard way and then realizing the reality. Welcome to a decentralized economy the hard way!! Cheesy

Zaguru12

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Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

Yea it is better to save in bitcoin due to some of its benefits but the one most important to me is its hedging ability against inflation. Your mistake about saving fiat was in the piggy vest where it later got damaged or in other cases could be lost to theft or fire; in case an outbreak occurs. This disadvantages makes bitcoin a safer option. But not withstanding saving fiats is also very important even if it is little for daily keep ups or emergency funds and it’s like. Even though banks are frustrating sometime it still better to have them in it to avoid this problems.
Cases like also redesigning of the notes were old notes need to be returned back to banks have actually discouraged the piggyvest saving method

maydna

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You've seen the difference between keeping that money in a wood savings account and wanting to start investing in bitcoins. It's a great idea because you can get a great return on the increase in bitcoin prices over the next few years. You already have experience saving money and having a bad experience and should be able to share it with others so that they can follow your steps to save their money in bitcoins.

Continue your efforts to save your money in bitcoin @OP before the price increases high, and you can find it difficult to start accumulating bitcoins. You still have time and can start whenever you want.

Phyna4

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Quote from: Ojima-ojo on January 29, 2023, 08:56:45 AM

Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

What plartformis piggybktcoin, I have it hard any thing of such before because saving every little bits can sometimes lead to you losing your bitcoin as some amount may be considered as a dust transaction especially if you measured the amount you want to save in you fiat currency knowing fully well how worthless some of this currency can be and saving them in small amount in Bitcoin such as it is obtainable with fiat.

So the piggy bank is more favourable to fiat compared to bitcoin, but bitcoin should be taken as a long-term investment since bitcoin is an asset.

there is no word or platform piggybitcoin, it's just a word I coined name from piggybank. You are right, piggybank is more favourable but btc investment has higher return.

Phyna4

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Quote from: mirakal on January 29, 2023, 08:21:42 AM

You have to choose whether you'll save it or invest it.

The moment you decide to invest in bitcoin, you are not saving money anymore as that amount could lose its value in the long run. Yes, I'm talking about the possible negative result as investing does not guarantee profit. However, if you are willing to risk, I'm sure you know how to manage that risk and you'll only invest what you can afford to lose.

Thing is, if you are just saving it in your piggy bank, inflation will hit you, but you still have that money when you need it.

you have a valid point. From my story, I prefer investing because investing will give me a higher return even though it will take risk of loss to do so. Normally, I save little cash which is same as investing what I can afford to lose. Both helps to achieve a comfortable financial future.

Ojima-ojo

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Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

What plartformis piggybktcoin, I have it hard any thing of such before because saving every little bits can sometimes lead to you losing your bitcoin as some amount may be considered as a dust transaction especially if you measured the amount you want to save in you fiat currency knowing fully well how worthless some of this currency can be and saving them in small amount in Bitcoin such as it is obtainable with fiat.

So the piggy bank is more favourable to fiat compared to bitcoin, but bitcoin should be taken as a long-term investment since bitcoin is an asset.

elevates

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I do not know in which country you live. At the moment most countries in the world are going into an economic slump and their currency is getting devalued. The list of these countries is not restricted to the third world there are also countries from the first world. In this current age if someone is using a piggy bank to save money then you can assume they are not living in reality. A lot of us here had already invested fiat in bitcoin when you had thought of buying a piggy bank to save local fiat. You realized it late but it does not mean you are late in investing in Bitcoin.

livingfree

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Quote from: Phyna4 on January 29, 2023, 06:09:17 AM

Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

I've heard of the same stories that they're not aware that the tangible money is prone to being eaten by termites or any other insects mainly if you've used a wooden piggy bank.

Well, the good thing and difference of bitcoin is that it's intangible and you can keep it to a wallet that you hold the private keys which is the most important part.

And as for the hardware wallet, it's a device that will also be dependent on how you'll keep it.

PhilixCrpt

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So much lessons to learn from your experience. In Nigeria, there are lots of people who prefers keeping money at home than taking it to bank or investing it in Bitcoin or other Crypto platforms. However, gradually, things are beginning to change and people are becoming wiser through a platform like bitcointalk that gives a global freespace for people to share views and educate each other.

The World will become a more better place for all of us soon as we continue to share and gain knowledge globally because knowledge is power.

mirakal

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You have to choose whether you'll save it or invest it.

The moment you decide to invest in bitcoin, you are not saving money anymore as that amount could lose its value in the long run. Yes, I'm talking about the possible negative result as investing does not guarantee profit. However, if you are willing to risk, I'm sure you know how to manage that risk and you'll only invest what you can afford to lose.

Thing is, if you are just saving it in your piggy bank, inflation will hit you, but you still have that money when you need it.

Phyna4

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Story of my life, 3 years ago, I bought a wooden piggybank for savings. My target was to save for 2 years before I opened it. I started putting money inside, until i realized the wood wasn't good enough so I opened it. lo and behold, termites has invaded my save and destroyed my money 😔. Fast-forward to now, If I had used that money to invest in bitcoin, with good investment decision the money will be secured and with increase in bitcoin, my money would yield interest.
Save wisely this new year, I'm starting my savings in piggybitcoin.

Topic: Save wisely this year, piggybank or piggybitcoin (Read 164 times)