You said it absolutely the way it is. Banks in most of my continents use your money for business and still claim to be charging for services rendered to you keeping your money while Bitcoin will surely rise to give you great increase in the amount invested by investing at the right time of the market.
And you even gain more if you can study the market trend and manipulate your way through the market loopholes to gain more.
Topic: Saving asset in bitcoin is much more better than saving in banks (Read 933 times)
If a banks can offer me 5-10% return per semester, I have to choose them but I'd never hear banks offers like that, they can just offer a small return which is really far of what Bitcoin can do for us. When it comes to practicality, no wonder why people will consider putting their money into crypto even though it is risky rather than putting it on the banks that only the owner who are benefiting a lot.
In this case, we can't simply hide the possibility that people will never use their service but instead they'll go into online.
In this case, we can't simply hide the possibility that people will never use their service but instead they'll go into online.
The profit that you may have in the banks from investment is guaranteed but that is too high as what you think while the profit we can have from investing in bitcoin has no guaranteed but you can earn big income from it, especially if you have invested for a long term, that is much profitable way of investing in bitcoin. As a student and at a young age, I haven't tried investing in a bank yet, though I am already contented with the way I invested in cryptocurrency not only in bitcoin but also in some altcoins.
Well yes, that's why bitcoin was invented in the first place, it was used to bank the unbanked. And it was it's purpose, to become an alternative to banks and other old financial instruments that only profits the ones that are on top of the food chain. It is evident that bitcoin is better than the bank because of the growth that it showed over the past decade.
I have bank accounts and cards, but to be honest, I trust blockchain technology more than banks. So years ago, I decided to keep a decent chunk of my savings in Bitcoin and other top-rated coins. After this bullrun, the funds I invested in cryptocurrencies have grown significantly, but I still hold my coins in cold wallets and on legit exchanges. Even now, I see the high potential of the global cryptocurrency market.
Banks can block or freeze money deposited by their customers, which is why I also find that Bitcoin is much safer and better than fiat.
Banks can block or freeze money deposited by their customers, which is why I also find that Bitcoin is much safer and better than fiat.
as we know right now. saving bitcoin in last 2 years are very good than saving on the banks, but if you want to save it on bitcoin, you should check about how to save it, you should use a hardware wallet, because it will more save than you use a software wallet.
An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life
Don't go all in or else you would be fucked up and its hard to deny that we do still need fiat savings on day to day basis since adoption isn't still accepted globally An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life
and also majority of us do sees bitcoin as an investment rather than a currency so its no surprise that people would be saving it up and accumulate while they can.
Why would choose between two if you can both save up bitcoin and cash at the same time? Balance everything and you should be fine.
as we know right now. saving bitcoin in last 2 years are very good than saving on the banks, but if you want to save it on bitcoin, you should check about how to save it, you should use a hardware wallet, because it will more save than you use a software wallet.
An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life
An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life
Though I am a supporter of cryptocurrencies but I interest in banking profits systems. Though banking interest lower than cryptocurrencies interest but lower risks. In cryptocurrencies interest profits high but you can think here risks far far more than banking system.
High profits, high risks.
In BTC, you may get high profits when saving your money BTC. Moreover when buying them in bearish or dip price and then saving or holding them to the future (at least until bullish). You will get very high profits. However, who will guarantee your money secure fully? No one. That is why high profits high risks.
It is different with banks. They will commonly guarantee and also they are centralized, law under the government of the country. Except if the banks are bankrupt or have serious problems.
In BTC, you may get high profits when saving your money BTC. Moreover when buying them in bearish or dip price and then saving or holding them to the future (at least until bullish). You will get very high profits. However, who will guarantee your money secure fully? No one. That is why high profits high risks.
It is different with banks. They will commonly guarantee and also they are centralized, law under the government of the country. Except if the banks are bankrupt or have serious problems.
do not deny investing our funds in $ BTC or others is an attractive thing and promises greater returns than the Bank 🏦 but giving it all for assets in digital I do not agree with this opinion; because we cannot predict future prices and needs so this will force you to sell your assets regardless of the price but ... !! having funds in this bank makes your funds safer and makes it easier for you to transact when something happens in the future you are not easy to sell digital assets, because there are still other assets (our money is in the bank)
not a simple answer to this question.
banks have negative interest as money are eaten by inflation. however they are legalized and you can invest or spend the way you want it.
bitcoin on the other hand is the best by far investment we all know and it very likely to be this way for few more years (maybe 10 who knows) as value keeps rising. that's the positive side. the cons are existing also:
1) bitcoin can be lost at any moment if you are not careful
2) many countries are still not crypto friendly and there are obstacles when you decide to legalize or pay taxes for it
3) we don't have all the time in the world to watch how bitcoin rises its value while at the same time can not feel all the benefits of its value
4) it may loose its value or be banned after some years as it can not rise its value infinitely
so I think its better to get the benefits of the two worlds - bitcoin and banks (symbolizing todays reality)
banks have negative interest as money are eaten by inflation. however they are legalized and you can invest or spend the way you want it.
bitcoin on the other hand is the best by far investment we all know and it very likely to be this way for few more years (maybe 10 who knows) as value keeps rising. that's the positive side. the cons are existing also:
1) bitcoin can be lost at any moment if you are not careful
2) many countries are still not crypto friendly and there are obstacles when you decide to legalize or pay taxes for it
3) we don't have all the time in the world to watch how bitcoin rises its value while at the same time can not feel all the benefits of its value
4) it may loose its value or be banned after some years as it can not rise its value infinitely
so I think its better to get the benefits of the two worlds - bitcoin and banks (symbolizing todays reality)
Interest rates in banks are really low generally. Hence, we can't even compare it to an investment which is into Bitcoin. HODLing is the best thing I've ever known. Because you make lots of profit after being patient for a time which will be needed to achieve your goal.
Yes mate you are absolutely right because interest rate of banking system is very important but in cryptocurrencies most of the projects allow APY instaking and gives profits more than banks . Os people are preferring to themselves in cryptocurrencies investment.
Cryptocurrencies always unstable and unconditional in nature but banking is the safest place where one can easily store his assets . But recently in halving market cryptocurrencies investment is very profitable than banking system.
Interest rates in banks are really low generally. Hence, we can't even compare it to an investment which is into Bitcoin. HODLing is the best thing I've ever known. Because you make lots of profit after being patient for a time which will be needed to achieve your goal.
There is not a single question, because then in the Op you add that you are going to take the other half that you have in the bank and take it to bitcoin; so investment and security, two questions in one.
bitcoin is safe just take the precautions, inform yourself well and proceed to Hodl bitcoin.
As for taking all your money out of savings and passing it to bitcoin, just be informed, be clear how long you can Hodl bitcoin, to survive the periods in which bitcoin due to its volatility will also fall in price, always feasible that it even reaches historical at the low (ATL), the long term works well.
bitcoin is safe just take the precautions, inform yourself well and proceed to Hodl bitcoin.
As for taking all your money out of savings and passing it to bitcoin, just be informed, be clear how long you can Hodl bitcoin, to survive the periods in which bitcoin due to its volatility will also fall in price, always feasible that it even reaches historical at the low (ATL), the long term works well.
We can base things from the past, what happened way back are still possible in repeating itself, with wide adoptions to happened in the following years,
expect that Bitcoin value will continue to rise high, early holders managed to earned a lot from this market, it's still open to everyone who are willing to take the risk and invest with their money.
Spare the amount that you can forget for another 3-5 years, you'll see how many times it will multiply after.
Exactly our past experience here in cryptocurrency should also be taking noted, well in my own personal experience I had lost a chance to earn a good profit way back 2 years ago because of the sudden price drop of crypto tokens and much worst a half of my bitcoin was lost because I just forget to exchange it into fiat.
Well maybe investing in bitcoin could give us a good return of investment in just a short period of time compare on investing it or putting in a bank but should take note that we shouldn't have to put all in one basket.
For investing, of course bitcoin is better than savings in a bank because in bitcoin you have a chance to earn huge profit while in bank you can accumulate only small profit from small interest per annum. But, you still need a bank because putting all your funds in bitcoin is not a good idea because bitcoin is volatile. You can deposit your profit from bitcoin in a bank as your savings.
I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
If you compare the benefits that will be obtained from banks and bitcoin, it is clear that investing in bitcoin can provide multiple benefits, but investing in a bank does not have a high risk, our money will not be lost or reduced even though it can be taken at will according to our needs.
I always find holding bitcoin is better than savings in the banks.
You have to understand that the interests provided by the banks are slightly equal to the inflation rate which means, you do not earn anything. Some countries even offer a negative interest. For example:
- Switzerland: -0.3%
- Japan: -0.1%
You know what to choose by now
You have to understand that the interests provided by the banks are slightly equal to the inflation rate which means, you do not earn anything. Some countries even offer a negative interest. For example:
- Switzerland: -0.3%
- Japan: -0.1%
You know what to choose by now
I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Both has different features why people are choosing to invest on such. For bitcoin, the volatility is much higher as well as the possibility that your money will continually grow in it. For banks, your money is growing but it is too stable that's why the progress of your money growing is much slower compared to bitcoin. Investing in bitcoin comes a great risk since there is a chance of dumping wherein the money you put inside it might go down together with bitcoin's value while in banks, there are less risk but less benefits also. You are free to choose wherever you feel comfortable just make sure you are responsible and wise with your decisions. Jump to: