Topic: Saving bitcoins - page 15. (Read 32702 times)
If that case ever happened then it is depend on the bank, because each bank has it's own policy, and i think it will be hard for bank to determine the deposit rate, but I assumed it will have a lower percentage than fiat, because the government and bank will be more focus to asked people to save their money in fiat
If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
If you want to save bitcoin, you should store it in a hardware wallet, and store the necessary information. It is not smart to store bitcoins at a bank, there are a lot of problems that happen when you want to take it.
There is nothing such as a bitcoin bank right now, the idea itself is relatively possible IMO considering the demand for loans etc... but there isn't one.. Naturally if there is one in the future the interest rate will be slightly lower because of the increased risk of defaults of loaners in the online world more than offline.
If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
As of now, I don't know a bank that accepts bitcoin as an investment. If ever there is, I think it has to undergo a lot of process especially if you want to get your btc from your savings in the bank. I think it would be more practical if you just hold your bitcoin in your hardware wallet and wait for bitcoin to inflate its value.
If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
The question is there's a bitcoin bank? I never heard that before. But If there's a bitcoin bank I think the percentage of increase is low. Low because our bank in my country has 1% profit only. So I think it is the same here in bitcoin. It's more profitable if you keep your bitcoin, and convert it when the price increase.
Yeah saving bitcoins and selling them when price goes higher will give you profitable results as price is predicted to go higher in future so if you manage to save enough bitcoins in your wallet then you can make good profits by converting them to cash when price rises in the future and that is the best way to make profits.
on bitflyer.jp u can store as in a Bank If u check Bitflyer give some a warranty for a ballance
regards
regards
If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
Unfortunately until now there is no bank that received bitcoin, to save there, maybe because the regulation is not compiled, so the bank can not accept bitcoin, but in the future I hope there will be a definite rule so that bitcoin can be stored in the bank
If I decided to save bitcoins in bank, how will deposit rate be changed compared to dollar or other currencies? Will it have much lower percent?
If you want to save bitcoin, you should store it in a hardware wallet, and store the necessary information. It is not smart to store bitcoins at a bank, there are a lot of problems that happen when you want to take it.
Exchanges gets hacked, exchanges gets robbed, exchanges gets closed. Always save your bitcoins to either bitcoin core on your computer or now a days usb wallets are available like trezor
I basically agree with that
But keeping your bitcoins in a safe place doesn't magically make you invulnerable to the systemic risk of Bitcoin dying all of a sudden. And this where exchanges help, i.e. they allow you to minimize this risk through trading. If you are trading successfully, you gradually move your breakeven point (i.e. where your gains equal losses) lower and lower aiming to move it below zero. If you eventually get there, then even Bitcoin joining the club of shit coins will leave you with profits. That's what all of us should be looking for
Actually that is one of great advantages of bitcoin: holding it is a better investment that the options offered by banks to invest your capital in ordinary financial instruments. If you have decided to invest in bitcoins, it seems a bit incongruent to think of investing them in ordinary banks.
Couldn't agree more. Bitcoin needs to be held. Yes, the price swings with great volatility, just look at the last 2 days, all of crypto took a hit, but the trend is up and will remain up. Only just recently crypto is getting more mainstream attention and still the majority of people do not know or understand it. I recommend 'saving' bitcoins... just accumulate and hold. Check back in a few years and you'll be happy you did.
if I understood you correctly then you are asking how much of the money will be deposited in BTC compared to traditional investments? For me I'll probably invest around 10% or so since BTC is a dangerous market and it's better not to keep your investments in one pack.
Saving bitcoin will make you rich. the price of BTC today is increasing rapidly, the price of btc today are still cheap, if you want to become rich in the future save BTC today ! and hopefully theres a bank to save bitcoin.
No doubt that those early holders that managed to hold their bitcoins up to now will be rich enough. And I want to follow their foot steps so what I'm doing today is that I keep on holding my bitcoins. Because I know that one day I'll reap this patience of saving bitcoins. It will be good to all of us we'll just keep the faith of holding.
Patience is the key of it. It is not easy to hold your bitcoin in a period of time because you are tempted to convert it in real cash you bought it a stuff that you liked. But if you are really patient enough of holding it then that is a real profit. Try to think last year the price is below $1k then if you bought a bitcoin on that time then you really earn a ton of profit now, it is double with the price
Yes it's not easy to hold bitcoin because there will be situations and time that it is going to tempt you to sell it. But if you can endure to hold until with the satisfying maybe for 5 digits value per bitcoin. It will be worth the wait if you will sell at that rate but with the current price of bitcoin, it's already satisfying but it keeps on advancing and giving us some more expectations and pushing us to keep on saving.
It's an advantage to those people that have day job instead of using their saved bitcoins, they can use their salary for their expenses or whatever purpose they want. While their saved bitcoins will be on safe place and will remain to be on hold as the price of bitcoin is on a rally it will be a good thing for them since they can't move their funds.
Thats that i am and many other people are doing. I am earning bitcoins in part time through different methods like trading, investments etc but do not spend them and manage my daily expenses through my day job. This way my bitcoins are saved and also their value is increasing rapidly making it really a great overall investment.
Mostly with a person like you are saving a lot of bitcoins. And the budgeting of your money is very easy as you do have a financial freedom where you really don't have to think of where you will get the money you will spend for the things that you need. I'm near to that situation but as of now I want to focus to keep on holding and saving bitcoins.
i certain that many people in this forum no trust the bank, but there is no error for saving bitcoin in the bank. In this topic depends on individual policy itself.
By storing bitcoin in our wallet it will be better if you save your money in bank, With our patience saving for a long time on the bitcoin wallet so at an increased value we will get more profits than we benefit from the bank.
I agree. with the knowledge we have, no one can steal our bitcoin unless we have a trojan malware in our computer. Bitcoin is one of the most security currency on the planet. If you want the higher security, you can choose other altcoin insteadMost of the exchanges are improving and making their security tighter so it's very safe if you are going to store them wherever you want. I'm thinking to invest now for buying a hardware wallet but I can't find that there's an available one near in my country.
Exchanges gets hacked, exchanges gets robbed, exchanges gets closed. Always save your bitcoins to either bitcoin core on your computer or now a days usb wallets are available like trezor.
Saving bitcoin will make you rich. the price of BTC today is increasing rapidly, the price of btc today are still cheap, if you want to become rich in the future save BTC today ! and hopefully theres a bank to save bitcoin.
No doubt that those early holders that managed to hold their bitcoins up to now will be rich enough. And I want to follow their foot steps so what I'm doing today is that I keep on holding my bitcoins. Because I know that one day I'll reap this patience of saving bitcoins. It will be good to all of us we'll just keep the faith of holding.
Patience is the key of it. It is not easy to hold your bitcoin in a period of time because you are tempted to convert it in real cash you bought it a stuff that you liked. But if you are really patient enough of holding it then that is a real profit. Try to think last year the price is below $1k then if you bought a bitcoin on that time then you really earn a ton of profit now, it is double with the price
Yes it's not easy to hold bitcoin because there will be situations and time that it is going to tempt you to sell it. But if you can endure to hold until with the satisfying maybe for 5 digits value per bitcoin. It will be worth the wait if you will sell at that rate but with the current price of bitcoin, it's already satisfying but it keeps on advancing and giving us some more expectations and pushing us to keep on saving.
It's an advantage to those people that have day job instead of using their saved bitcoins, they can use their salary for their expenses or whatever purpose they want. While their saved bitcoins will be on safe place and will remain to be on hold as the price of bitcoin is on a rally it will be a good thing for them since they can't move their funds.
Thats that i am and many other people are doing. I am earning bitcoins in part time through different methods like trading, investments etc but do not spend them and manage my daily expenses through my day job. This way my bitcoins are saved and also their value is increasing rapidly making it really a great overall investment.
yes there is no doubt that most of the exchanges are improving their security, but i think still we cannot trust of exchanges for 100% as there are always chances that people will hack the exchanges and therefore it will not be a wise decision to put all our money in exchanges, i think that it will be a wise decision to puta little amount from our assets in exchange so as to avoid the chances of losing money if the exchanges are hacked.
You are right. Infact, the best thing i have done in early years is to send wallet balances to my bitcoin core and backedup. Now, the exchange i used was closed down but the bitcoins are saved.
The whole idea about bitcoins is to avoid using a bank. You shouldnt really want to take bitcoins that you own and then put them into some one elses trust. There arent any banks that do what i think your looking for but there have been companys that usually end up scamming you for your bitcoins. If you want to earn a percentage of the bitcoins you own then the current best way is just to buy and hold. You wont earn more btc this way but you more than likely will earn more fiat for every btc you own.
Just consider on saving bitcoin on your own way. Why not try holding your bitcoin with used of a wallet where you are the one who will manage all your trading. Then start on investing time to educate yourself to get to know about trading and investment with the used of bitcoin because the best way to save is to invest where you can earn more while saving a percentage of bitcoin. And also keep in mind that bitcoin and bank has a different system if we will going to compare them but it does not matter unless you set goals and you are the one who will manage your bitcoin for you to save on our own ways. By storing bitcoin in our wallet it will be better if you save your money in bank, With our patience saving for a long time on the bitcoin wallet so at an increased value we will get more profits than we benefit from the bank.
I agree. with the knowledge we have, no one can steal our bitcoin unless we have a trojan malware in our computer. Bitcoin is one of the most security currency on the planet. If you want the higher security, you can choose other altcoin insteadMost of the exchanges are improving and making their security tighter so it's very safe if you are going to store them wherever you want. I'm thinking to invest now for buying a hardware wallet but I can't find that there's an available one near in my country.
Bitcoins banks are not present in the world. What you have is your wallets, exchangers etc. But they do not really incur you any fees for saving your bitcoins online. As they would be using your money for their own maintenance and will charge you only when you do a transaction that is when you send or receive bitcoin into your wallet. Bitcoin banks if ever existed then it would be tragic scenario as bitcoin price keeps changing every hour, day and month. So this would be not good in terms of interest math.
That's a good question. Due to the design of bitcoin, it is a bit difficult to "loan" them (remember that banking is effectively a loan where the bank pays you interest).
Bitcoins are not fiat, and therefore, can not be continuously printed. Because of this, no one can guarantee to indefinitely keep paying out interest on loaned coins. A horribly exaggerated example, just to make a point, is that if I somehow had 20,000,000 bitcoins in a bank, they could never pay me more than 1,000,000 total in interest just because of the limited supply.
Now, that's more on the theoretical side of things. In practice, a major problem with loans in Bitcoin are the volatile price. If the price rises suddenly, it could become more difficult to pay back interest; or alternatively if the price takes a heavy drop, the investor may lose money as what he is paid is less valuable now than it was at initial investment.
Saving bitcoin is very nice because you can use it in future. If you save bitcoin you can use it to sustain all your need and it may help your family. I think in the future you can also save bitcoin in bank and you can get loan in bank of bitcoin.Bitcoins are not fiat, and therefore, can not be continuously printed. Because of this, no one can guarantee to indefinitely keep paying out interest on loaned coins. A horribly exaggerated example, just to make a point, is that if I somehow had 20,000,000 bitcoins in a bank, they could never pay me more than 1,000,000 total in interest just because of the limited supply.
Now, that's more on the theoretical side of things. In practice, a major problem with loans in Bitcoin are the volatile price. If the price rises suddenly, it could become more difficult to pay back interest; or alternatively if the price takes a heavy drop, the investor may lose money as what he is paid is less valuable now than it was at initial investment.
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