Buying Bitcoins it's not only profitable it's also a reason to lose funds if price drops. But if you can manage your funds and buy at a dip price then it will be worthy and will be a best investment. Also learn that Bitcoin wallets can be hacked and you can lose your entire funds. So must keep your funds secured by using your account protection. You can protect your account by using 2FA authentication or use hardware wallet. Another reason is that you only have the access of your funds if you hold Bitcoin.
Always remember Funds security is the most important thing in Crypto Currency.
Topic: Should I keep money in the bank or buy bitcoins? - page 2. (Read 311 times)
Yes of course if you want you can get double profit by buying bitcoin from bank profit. But even if the bank gives you a small profit from time to time, you never fear losing your real money. But you can lose your real money if you buy Bitcoin. Second, you said that putting money in a bank leads to a bank robbery.
Does that mean there is no risk in Bitcoin? Then of course you are wrong.
If you have bank insurance, your money bank society will security all the money. If you ever lose your money or have any problem then you can catch the bank society. But in Bitcoin if you ever lose your Bitcoin key or fall victim to various scammers and your wallet gets hacked. Then you lose all your money.Who will you catch then? Even if you want to then you can't do anything. You can't blame anyone then. I mean that even though Bitcoin has many advantages, you have to be careful all the time to keep your money safe.
Does that mean there is no risk in Bitcoin? Then of course you are wrong.
If you have bank insurance, your money bank society will security all the money. If you ever lose your money or have any problem then you can catch the bank society. But in Bitcoin if you ever lose your Bitcoin key or fall victim to various scammers and your wallet gets hacked. Then you lose all your money.Who will you catch then? Even if you want to then you can't do anything. You can't blame anyone then. I mean that even though Bitcoin has many advantages, you have to be careful all the time to keep your money safe.
I also agree with you investing in Bitcoin is more profitable that holding funds in bank account. That's why I invested a good amount in Bitcoin. I don't likes holding funds in Bank account.
If you keep money in the bank, you will get little profit, but if you buy bitcoin and keep it you will get more profit.Bank will give profit at fixed rate but Bitcoin will give you profit at unfixed rate.That is surely more than expected from the profit of the bank. But Bitcoin has some downsides, it can decrease or increase.You need to invest by analyzing the market of different cryptocurrencies. And you have to understand when to invest and get good profit.If you have good money then you can take small ricks, to get good profit, it's totally up to you. But I personally don't like keeping money in the bank. There is joy in investing in yourself and getting something.
Keeping your money in the banks has two disadvantages. First, your money is always going down because fiat is being printed irresponsibly by your government. Second, your money is completely in the hands of someone else. In this case, in the hands of the bank. You may think that you will be protected by the government, should something happen to the bank, but the government can be the bad guy here, don't forget.
With Bitcoin you are in control of your money, nobody else. And it is deflationary. So no infinite printing, unlike with paper money(fiat).
With Bitcoin you are in control of your money, nobody else. And it is deflationary. So no infinite printing, unlike with paper money(fiat).
The risk of self-regulating Bitcoin is that it can be stolen by hackers or have security flaws. Banks have collapsed one after another. In addition to the above two methods, you can move your money to a physical form which is gold. Because no one taxes your gold when you own them. If you choose real estate you will probably lose your tax dollars yearly on them. Splitting money into different parts to balance risks is also a good way.
In my opinion, if you buy some bitcoins instead of keeping money in the bank, you can benefit from the current market. Because Bitcoin is known as the godfather of digital currency around the world. Your bank will give you a small profit on your capital month after month.
Charges from fiat banks are very annoying these days and appear to be daylight robbery. First, you have no control over your funds; you can lose them at any time because their security is not guaranteed by the banks; and the banks cannot avoid facing suit after suit, which may lead to bankruptcy. So it's best to diversify your savings or only invest in bitcoin for the long term.
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And besides, the bank can be robbed. But if you keep buying bitcoins then bitcoins will not be lost at all. Even if the price drops a bit it will reach such a price and height that your capital will be doubled. So I think it is better to buy bitcoins than bank. Then he acts as he pleases. This is my personal opinion. thank you
Bitcoin can be lost due to a hack, or you can lose your private keys and lose access to them indefinitely.
Having the mindset that your bitcoin will be doubled in a short period of time can be very disruptive at times because you may not receive what you expected. The primary goal of Bitcoin is to be used as an alternative to fiat currency, rather than solely to profit from buying and holding them. Profits from bitcoin are only a secondary reason why you should keep them.
In my opinion, if you buy some bitcoins instead of keeping money in the bank, you can benefit from the current market. Because Bitcoin is known as the godfather of digital currency around the world. Your bank will give you a small profit on your capital month after month. And besides, the bank can be robbed. But if you keep buying bitcoins then bitcoins will not be lost at all. Even if the price drops a bit it will reach such a price and height that your capital will be doubled. So I think it is better to buy bitcoins than bank. Then he acts as he pleases. This is my personal opinion. thank you
I think it all depends on your choice, because after all both have their advantages and disadvantages, saving money in the bank only keeps the value of the money we have stable even though it cut from the bank as a fee but we don't really need to worry about it, but saving in the bank isn't will make our money grow, whereas in bitcoin, of course as a bitcoin lover you already understand the risks and benefits we can get in investing in bitcoin, and I think it's better for you to share 50/50 of the money you have with a 50% ratio deposited in the bank as savings and 50% in the form of bitcoin investments.
Everyone is commenting on everyone. Some are doing it knowingly and some are doing it without understanding to complete the Signature Task. But if you use your intelligence a little, I have shown you the way of a business. If you put money in the bank, it will never double. But if you buy and hold bitcoins very easily, you will have a 50% chance of doubling your money. And all businesses have more or less risk. If you can't take risks, then you don't have the mindset and ability to do business. It sounds bad but it's true.
Banks suck big time. FIAT sucks. Money made with a never-ending printing machine. You don't even own the money you keep in the banks. You own them only theoretically. The bank interest is lousy. BTC is yours and nobody can touch it. Now you decide. Think also in the long run.
Know your intentions first. If you are into secured funds for a long period of time, putting it into bank would be a good idea. But if you are okay with taking risks in order to generate profit, putting your money into investments would be a better option. Storing your wealth on Bitcoin would be risky; Indeed for a long run the market price have increased but nothing is certain and consistent in this industry.
They can be collapsed, bankrupted, insolvent as consequence of bank run and some bad capital management and your money in banks can go void anytime. That is a bigger matter than many fees bank can charge on you.
It's a vital matter for your money, not big or small fee they charge on your account.
Regarding bankruptcy, there's this agreement that a percentage of it would be returned by banks unlike with crypto wherein you would be only liable of what would happen on your assets. Fees and delays with withdrawals are the downside of banking and also taxes of ofcourse. But its edge over other digital assets such as cryptocurrency is for being widely used acrossed countries. Bottomline here is knowing what you are aiming for in a long run.
You will not make any profit when you hold your money in banks, because the banks will charge you extra fees e.g. monthly charge, higher than the maximum withdrawal charge, send to other banks charge etc.
Charged fees are not most important things you must worry about when you use banks.They can be collapsed, bankrupted, insolvent as consequence of bank run and some bad capital management and your money in banks can go void anytime. That is a bigger matter than many fees bank can charge on you.
It's a vital matter for your money, not big or small fee they charge on your account.
Generally speaking if all you care about is making profit from bitcoin then it is not a good idea for you to buy bitcoin specially when we are not yet in a 2017-like bull market where price goes up a lot every week. Bitcoin is mainly for those seeking financial sovereignty not those looking to make profit. The profit is the additional benefit they get.
I have good ideas about your interested want to invest money in Bitcoin between keep holding in the bank, based on your fund source use for investing in bitcoin if cost of education your children is not mistake when holding in Bitcoin trough you want take back or use it three or fours years later, but if immediate or urgent needed seems saving in the bank better than use for investing in Bitcoin.
How possibility with your money spent 50% saving in the bank for urgent think and left 50% you can hold it and investing in Bitcoin because you can earn profit later when Bitcoin price going up, don't need to sell when price going drop when you have another 50% saving money in the bank and keep growing up your bitcoin investment.
How possibility with your money spent 50% saving in the bank for urgent think and left 50% you can hold it and investing in Bitcoin because you can earn profit later when Bitcoin price going up, don't need to sell when price going drop when you have another 50% saving money in the bank and keep growing up your bitcoin investment.
You will not make any profit when you hold your money in banks, because the banks will charge you extra fees e.g. monthly charge, higher than the maximum withdrawal charge, send to other banks charge etc.
Charged fees are not most important things you must worry about when you use banks.They can be collapsed, bankrupted, insolvent as consequence of bank run and some bad capital management and your money in banks can go void anytime. That is a bigger matter than many fees bank can charge on you.
It's a vital matter for your money, not big or small fee they charge on your account.
And besides, the bank can be robbed. But if you keep buying bitcoins then bitcoins will not be lost at all.
Guess what, your bitcoin can also be stolen; regardless if it's through a $5 wrench attack, through scams, through hacks, or if you're storing coins on exchanges and custodial platforms in general.
Another thing about the banks is that if banks are robbed there is an insurance scheme that protects depositors' funds against theft. Unlike Bitcoin, it only depends on you how you protect your wallet.
Your bank will give you a small profit on your capital month after month. And besides, the bank can be robbed. But if you keep buying bitcoins then bitcoins will not be lost at all.
You will not make any profit when you hold your money in banks, because the banks will charge you extra fees e.g. monthly charge, higher than the maximum withdrawal charge, send to other banks charge etc.Bank can be robbed, do you think there's no insurance company will not able to recover your money? you need to read before talk like this.
Bitcoin will not lost the price, but you can lost all of your coins if you're not careful to keep your backup, hold in a centralized exchange or web wallet, and other user's fault.
In my opinion, if you buy some bitcoins instead of keeping money in the bank, you can benefit from the current market.
Keeping your money in bank, then it is no longer your money. It's not your key, it's not your money. Sorry but with banks, you don't have any key at all.Getting benefit from the current market. Sorry again but what am I missing?
The whole finance world is chaotic and like a shit show. Some banks in the USA. collapsed days ago and Silicon Valley Bank is a second biggest collapsed bank in USA. history. Do you see you can get benefit by storing your money in bank at the moment?
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Because Bitcoin is known as the godfather of digital currency around the world. Your bank will give you a small profit on your capital month after month.
With Bitcoin, you have most important thing. It's your key, it's your bitcoin. Just follow the Reminder: do not keep your money in online accountsWith Bitcoin, you don't have inflation or hyper inflation like fiat currencies with banks or with stable coins and their future minting or de-pegs.
Your bank will give you a small profit on your capital month after month. And besides, the bank can be robbed.
This is a cheap argument against banks. No one is worried that their money would be stolen from the banks. They are unfavorable for storing value because the money you put in is eaten away by inflation, along with any interest earned.We need cash daily to get things done, but for investments Bitcoin is a better option.
But if you keep buying bitcoins then bitcoins will not be lost at all.
They can be lost if you are careless with it, and there is no alternative since you are your own bank. - Jay -
And besides, the bank can be robbed. But if you keep buying bitcoins then bitcoins will not be lost at all.
Guess what, your bitcoin can also be stolen; regardless if it's through a $5 wrench attack, through scams, through hacks, or if you're storing coins on exchanges and custodial platforms in general.
If you do not have immediate plans for the money then stacking bitcoins is a good idea. We can praise bitcoin all day but there are downsides to this as well, bitcoin is volatile and is unpredictable, while the bank interests of a savings account may be small, for bitcoin it may take longer that you think before you get x2 of your capital. If a bank gets robbed, your money is insured by the bank and the robbery doesn’t affect your money. For bitcoins, if you lose your private keys or store your bitcoins in a centralized exchange or closed-source wallet you stand the risk of losing all your bitcoins with no hope of refund. One of the best things about bitcoin is that you get to be your own bank, but it is a responsibility that some people do not handle well.
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