Topic: Should I keep money in the bank or buy bitcoins? (Read 322 times)

This plan will work very well if one really understands Bitcoin investment. Sometimes, some people may not really understand Bitcoin and its characteristics with its volatility. That is why once they are investing, they may be shocked because of the market correction. And this will lead them to think saving money is better in a bank because of the volatility.

But, for people who understand Bitcoin and its volatility benefits, this is exactly very worth it to save money in Bitcoin rather than in a bank, moreover if we are expecting long-term investment. This will be much worth it. The problem is how able somebody survives during this bearish market.

It’s always an individual’s choice. You can still save your money in the bank but never expect for bigger interest and profits as banks will control everything and left us with only low interest rate. However, if you chose to buy bitcoin, for me that’s a wiser decision but knowing how risky it is to invest despite of the highly volatile market, then you should be able to manage the risk so you won’t see yourself losing in the end. Otherwise, if you are not that strong and confident with your own investment, you will be easily triggered with its price fluctuations and will leave you in panic which makes you decide to sell at a losing price.

Are you aware of the risk involved with Bitcoin investment? Holding Bitcoin is better than keeping funds in a bank when you know the risk of both. Bank would be bankrupt and Bitcoin would dump & steal. You should well research before writing content or suggestions. However, Bitcoin gives us financial freedom and can multiply our investment as well if hold it with Patience. So it's very important to know the details before make a financial decision..

It's up to you, whether you want to buy Bitcoin or save money in the bank. But if you expect good profits from an investment, you should choose Bitcoin because saving money in the bank surely won't result in good profits.

However, Bitcoin investment is a high risk, no guarantee for profits. You don't think that investing in Bitcoin will get good profits automatically and instantly. You must understand well and have sufficient knowledge to gain good profits with Bitcoin. Understand the nature of crypto market and learn the Bitcoin price history!

By the way, Bitcoin also has a chance to be stolen. Choose trusted wallets only to keep the Bitcoin and never put it on CEX wallets.

Those words you had said was true but you should always be considerate on looking on what are the con's of bitcoin or the risks could involved too.If you do say that banks could be robbed then Bitcoin wallet or crypto wallet could really be robbed too and this is why its security would really be entirely be depending on you because not all would really be that good on handling out their wallets on the safest thing as possible.
If you do see those opportunity on making some profits on just simply holding, yes its true but you should always consider out the risks that not everything you do see now would really be ending up
positive on upcoming future.There's always a particular risks into it.

You're right. If you keep your money in the bank, it is the bank that you're allowing to freely use your money to lend it to its customers and from there you'll get a share and that share is truly a bit of amount from the big profit that they make from interests.

They can be robbed, hacked and receive freeze order from the government but AFAIK, most of the banks have insurance if something anything bad happens to them.

Just as the banks can be robbed and hacked, owning bitcoin doesn't mean that you're exempted from that. If you're a user that don't give importance to your browsing activities, you may be hacked, your wallet and your bitcoins might be stolen and can even be a victim of a scam.

I am with you on this, even it falls no matter how it will be. It can never avoid recovering and even more than doubling the price that it has got right now.

Well, if your intention is just to buy bitcoin and grow them in your portfolio, that may be good but you can’t assure to make profits from it in a less period of time seeing bitcoin price only create a slight increase compared when we are still in the year 2017 where bitcoin price surges high and reached its peak. But buying bitcoin is better than saving your money in a bank as you will never have the full control of your money and you can’t maximize your profits knowing the interest is only low and limited.

I don't think Bitcoin have security flaws. It wasn't like any other tokens and altcoins out there who are poorly coded. Security flaws might only happen on the Bitcoin wallet that we are using. Hacks are possible but only if you are too careless and lacks knowledge on how to keep your Bitcoins secure.

This doesn't sound worse as keeping money in the banks. No matter how secure a bank is, there are still other problems which can occur to them and that will be the cause of their collapse. That will also be the time you will lose your money. Gold is just like Bitcoin which was also an asset but I think it's more on the government side you may still be taxed with it. It's also a bit hassle to buy and keep them because they are physical items.

Majority of the people have the same belief, money on the banks were secure than the funds in terms of bitcoin in a wallet. This is true, and now things have changed with the bad economic situation around the world. Just the shut down of Silicon Valley Bank is an example. Not in terms of profit, even in terms of security having bitcoin in non custodial wallet seems to be better than having it stored in the form of cash in a bank.

Money that are deposited on the banks are insured so you can definitely get it back even though the bank where you money is robbed.  But of course there is a cap on how much is insured, as long as your savings does not exceed the maximum insured amount, you can get it back 100%.


I do agree that buying Bitcoin today is favorable as an investment.  Since Bitcoin is currently at lower price of its ATH, many expect that the price of Bitcoin will rally after the halving.  So it is speculated that putting your money on Bitcoin today will give us a huge profit after a year or two.

Comparing the profit between saving in bank and investing in Bitcoin today, it is obvious that Bitcoin can give us more profit in the long run.

There’s actually more advantages from buying bitcoin than just simply storing your money in a bank. You will have higher chances to increase your profits from investing especially if your bitcoin investment paid off. However, if you can’t be responsible of the safety of your bitcoin, then there’s still high chances that it will be robbed or stolen especially if you entrust your bitcoin into a centralized exchange, as even big and reputable exchanges are not excuse from hacking. Bitcoin is a great investment, you just have to save it in your own non-custodial wallet so you can have the full control over your bitcoin.

You are mistaken, there are many ways to lose your coins, you could get robbed, scammed or simply lose access to your seed words and then your bitcoin savings are gone without any possibility of getting them back, so be careful as this attitude could eventually lead you to make a major mistake from which you will not be able to recover, and while investing bitcoin is in fact better than having your money in the bank, this is only true if you can deal with the volatility of this market, something which is not as easy as many newbies think.

If you're gonna save money in the bank the money won't work for you. They might give you some benefits such as credits and loan but it doesn't give you the profit that bitcoin can gives in a long period of time. We all know that banks have security but there's many cases of robs in the bank which unlikely in the bitcoin due to bitcoin is decentralized, its up to you if you might get scammed with some fishy links where you assets might get drain. In bitcoin there's no guarantee that you will profit but it's a good idea to put your money rather than in banks to make your money works for you as an investment.

As has been said before you as a person can be robbed in very primitive ways. I guess some people aren't putting in the effort to read about the aforementioned $5 wrench attack. Security isn't just about the best anti virus program or a place where you can hide your hardware wallet or store your hand-written seed phrase. Security is also about your lifestyle, the way you present yourself in public and on how many social profiles you mention that Bitcoin is great and you own a ton of them. If somebody holds a gun to your head your Bitcoin can be gone quite quickly.

Always keep an emergency fund of savings in the bank so you can weather any possible financial difficulty like losing your source of income for a while or having unexpected large expenses. And in addition to that keep enough cash separate from your emergency fund (in cash or checking account in the bank) to cover your monthly expense.

But yeah beyond that use Bitcoin as your long term savings account. Fiat has the benefit of remaining relatively stable so you don't have to rely on market conditions to have money available. Bitcoin has the benefit of being hard money so it will always go up long term. You'll grow your savings a lot and stay safe financially by having monthly spending needs and emergency fund in cash/bank and long term savings in bitcoin.

Personally, this month I'm now starting to use my income (from trading) to cover my monthly expenses first, and then putting an equal amount into my bank savings account and into bitcoin for longer term savings. I'll sell these bitcoin savings during the bull market to have extra money in the bank to help cover some of my spending during the next bear market since I won't be trading during that time. And then of course I have my truly long term HODL bitcoin (and ETH) which is where all my wealth is stored.


You always want some money in the bank so you aren't affected by bitcoin's down markets. But yeah once you have that basic bank savings that makes you feel financially safe then all other saved money can go into bitcoin to grow your money.

You can lose your Bitcoin too if you happen to lose your PKs or any other login info even if you are holding it in your personal wallet however, Investing in Bitcoin can no longer be overemphasized as we have seen its ROI time after time but investing the whole of your funds in Bitcoin and not having some savings for daily use might not be a good idea. You will still have money in the bank regardless.

Your thoughts are so optimistic about BTC, i do not know is it based on your experience or just a misunderstanding of this technology. Many of the above members arises some main points which could give you an idea that your BTC can be lost and there are some chances that your money will be doubled in less time. On the other hand, Banks are totally centralized and BTC is decentralized that's the main and big slogan of this technology that newcomers easily understand. But i must say keep care and precautions to protect your assets is in your own hands and that makes you responsible for your assets (BTC) and most of us do not want to take this responsibility.

I know you guys use the feature of interest over your money by storing it in banks but, I do not like it because interest is a bad factor for every economy and the economy can only grow with prosperity if there are no interests in it. You may ask how it's just my instincts and my thoughts because does not matter where you start and with how much effort you start if you are doing something bad then it will come to a bad end. That's why I did not store my assets in banks if I store them I did not use the interests feature. I just store it. Whenever I need money do p2p that's it. So I can tell you the real benefits of BTC over Banks.

Note*and one more thing before sharing an idea or asking something try to find another topic on the same idea (that you are going to write) because in this way things will not repeat like let me mention some posts already discussed on this topic. This platform no doubt supports and helps everyone in understanding crypto and blockchain but a few prerequisites will make it easier for you. (i hope you will not mind).
Some superior aspects of Bitcoin over Banks we overlook.
Bitcoin versus Banks

Let's face it, keeping money in the bank can be done based on several reasons, one of them being investment as the money can earn interest, others do this to raise their credit score others its really all about trying to safeguard our money from ourselves or trying to keep it in a safer place than our homes and allow it to be used to run an economy and the best part it will cost us nothing besides the few banks charges and what not.

But when it comes to crypto, if you choose the investment route if you put in a 100 dollars today their is a possibility of it growing in value or diminishing in value which is the risk it posses but if we don't mind this then investment is for you.

You should understand the reason why everyone has interest on bitcoin because it's an entire and new system of financial economy where everyone has control over his asset and can be able to maintain his privacy without the fear of any embargo that may come up in using banks


It makes no difference as receiving nothing at all, bitcoin is more profitable because you are not tie down to receiving only a stipulated amount every time which is a peanut.


The blockchain cannot be robbed except if you're using a centralized exchange that have access to your keys in their possession.


Not in buying bitcoin repeatedly makes your coins not to get lossed but in keeping your bitcoin in a secured wallet and preventing your keys away from a third party.

Take note that while it'll take fraudulence in disastrous proportions to lose your money, you can theoretically "lose" your money through inflation/hyperinflation. This has happened time and time again throughout history and hyperinflation is expected to happen again and again in the future.

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.

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.

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).

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.

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.



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.

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.
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.

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.

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.

In addition, bitcoin always depends on you how you protect your wallet from any schemes and attacks. Because if your wallet was hacked and stole your BTC there is no way to recover them or reverse the transaction.

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.

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.

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?

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 accounts

With 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.

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.

They can be lost if you are careless with it, and there is no alternative since you are your own bank.

- Jay -

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.

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