Use your money wisely. Invest or Deposit ? - page 9.

jrrsparkles

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Quote from: Marcellin9 on December 09, 2022, 01:00:08 AM

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

First of all never ever save more money than you need for 6 months of your expenses as liquid cash, inflation will eat the value and as your post says if the bank is giving 3% fixed interest rate but the inflation is climbing above 7% so actually in the end we will be losing 4% and some unofficial reports says inflation rate is already above 10% so that's the status of depositing.

Investment is the wise choice as we know but don't go all in either its bitcoin or gold or anything, learn to diverse the capital and invest on multiple assets with different risk levels.

Fortify

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Quote from: Marcellin9 on December 09, 2022, 01:00:08 AM

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

Investing tends to be the best way to go over time, but with a few caveats. It's definitely worth having an "emergency fund" of a few thousand to cover expenses that might pop up and avoiding having to pull invested money out. As the major cost with investment is the fees and these are often triggered by things like selling. If you want to make money with banks then do your research and buy a few shares of the best ones within your diversified portfolio.

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Quote from: Dr.Bitcoin_Strange on December 31, 2022, 04:01:59 AM

IMO, Formal education doesn't determine a person's success; personal interest in being successful and doing what comes after to achieve success could also determine success.

I have a friend in high school whose slogan is "Making money is not the goal, but becoming a professor is the only thing that drives me." This guy is striving hard to publish his books, gain MSc and PhD degrees, but I am striving hard to make an alarming success.

There is now a saying these days that we don't only need to work hard to achieve success, but we also have to work very smartly 🤓🤓 as well.

Education is not only about output to make money after getting a degree. However, education plays a much more important role in making these humans know what is right and what is wrong. In fact, what you say is true, which returns to the individual himself in determining his success. Because the higher the path of knowledge is traveled, the higher the choices that must be taken.
In this modern era, working hard is not enough if you only rely on your physique to keep sweating, but smart thinkers are able to create jobs that don't have to involve sweat.

Shinpako09

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Both, don't forget there is a saying "don't put all your money in one basket". The best thing to do is split your money. Invest 60 to 70% of your money and deposit the rest just to have an emergency fund if ever your investment goes wrong and not because of the annual rate. Split your investment as well, not just in one coin. If you are a risk taker, go altcoin or nft project but make your thorough research first.

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Quote from: Fara Chan on December 25, 2022, 08:48:53 AM

because both are very valuable , one of which is very appropriate if we invest in Bitcoin or Altcoin rather than deposit.

Altcoin investment is more like gambling with our funds and not a proper investment option to consider, despite the fact that most people try Altcoins. I would not advise any of my friends to buy Altcoin. Altcoin can rack a person's fund, leaving that investor in the dark 🥴.

Quote from: bitgov on December 30, 2022, 11:26:40 PM

that is correct - I have seen many people with no university degree earning more than the graduate.
Some people have no shame is doing things - big or small... and they are the most successful of all.
Hard work is a key to success.

IMO, Formal education doesn't determine a person's success; personal interest in being successful and doing what comes after to achieve success could also determine success.

I have a friend in high school whose slogan is "Making money is not the goal, but becoming a professor is the only thing that drives me." This guy is striving hard to publish his books, gain MSc and PhD degrees, but I am striving hard to make an alarming success.

There is now a saying these days that we don't only need to work hard to achieve success, but we also have to work very smartly 🤓🤓 as well.

bitgov

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Quote from: Pamadar on December 27, 2022, 03:20:15 PM

Quote from: Fara Chan on December 25, 2022, 08:48:53 AM

Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past,

Yes, now it's a wise choice to prefer Investment over deposits, actually there are several places to invest and guarantee good, we can invest in Gold or Cryptocurrency, it's just that I'm more interested in Cryptocurrency which is actually equally profitable, because both are very valuable , one of which is very appropriate if we invest in Bitcoin or Altcoin rather than deposit.

But there are also some people who prefer to keep their money in the bank, but I prefer the name investing, depositing and saving money is pointless, now it's better to invest.

If you already have broader knowledge of investment, then you are good to go. There are many advantages with investment compared
by simply deposit or saved your money.

Though there is also a risk that you need to understand when taking an investment, there's no guarantee unless
you really focus yourself on collecting knowledge about your chosen investment and you are willing to give your time
and patience to wait for your success.

that is correct - I have seen many people with no university degree earning more than the graduate.
Some people have no shame is doing things - big or small... and they are the most successful of all.
Hard work is a key to success.

Dr.Bitcoin_Strange

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Shops and houses are very expensive assets in the city where I reside, but with $70k I can buy two unfurnished shops and a self-contained apartment, after which I will furnish them to a good standard and rent them out. and depending on the location, but the minimum to rent a shop is like $35 to $40 per month, even more in some areas. But perhaps if I rent the shops for $40 per month, it would be $456 per year times 2 (two shops) for $912. If I am also to rent the self-contained unit for, say, $30 x 12 months, that comes to $360.

With that 👆 being said, I will be making approximately $1300 every year.

The remaining 30% of the $100k (which is $30k), I will invest 15% into Bitcoin, 3% into BNB and ETH, and 7% into my business. I heard that some Forex brokers enable users to buy an AI bot that trades and generates profit for their users; I can use 2% to try that out. I will leave the 3% in fiat as to fend my desires with it and have some fun 🤗🤟🤘 too.

This is just my opinion, but if I am opportuned to have that $100k, that's exactly what I'll try to archive.

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Quote from: Marcellin9 on December 09, 2022, 01:00:08 AM

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

If I have a lot of money, I will allocate assets to invest and save to reduce risk. Although investing is the more profitable option, never go all in on investing because it comes with a lot of risk. Investing in Bitcoin has great potential and will yield large profits in the future.

Pamadar

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Quote from: Fara Chan on December 25, 2022, 08:48:53 AM

Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past,

Yes, now it's a wise choice to prefer Investment over deposits, actually there are several places to invest and guarantee good, we can invest in Gold or Cryptocurrency, it's just that I'm more interested in Cryptocurrency which is actually equally profitable, because both are very valuable , one of which is very appropriate if we invest in Bitcoin or Altcoin rather than deposit.

But there are also some people who prefer to keep their money in the bank, but I prefer the name investing, depositing and saving money is pointless, now it's better to invest.

If you already have broader knowledge of investment, then you are good to go. There are many advantages with investment compared
by simply deposit or saved your money.

Though there is also a risk that you need to understand when taking an investment, there's no guarantee unless
you really focus yourself on collecting knowledge about your chosen investment and you are willing to give your time
and patience to wait for your success.

bitgov

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Quote from: Fara Chan on December 25, 2022, 08:48:53 AM

Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past,

Yes, now it's a wise choice to prefer Investment over deposits, actually there are several places to invest and guarantee good, we can invest in Gold or Cryptocurrency, it's just that I'm more interested in Cryptocurrency which is actually equally profitable, because both are very valuable , one of which is very appropriate if we invest in Bitcoin or Altcoin rather than deposit.

But there are also some people who prefer to keep their money in the bank, but I prefer the name investing, depositing and saving money is pointless, now it's better to invest.

investment is surly a good thing to do - if. you gave great mind to decide what to do and what not to
People like me loose money and peace of mind after investing because most of the time - they meet the scammer and don't know what to do after they are scammed and looted.

Fara Chan

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Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past,

Yes, now it's a wise choice to prefer Investment over deposits, actually there are several places to invest and guarantee good, we can invest in Gold or Cryptocurrency, it's just that I'm more interested in Cryptocurrency which is actually equally profitable, because both are very valuable , one of which is very appropriate if we invest in Bitcoin or Altcoin rather than deposit.

But there are also some people who prefer to keep their money in the bank, but I prefer the name investing, depositing and saving money is pointless, now it's better to invest.

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Quote from: Marcellin9 on December 09, 2022, 01:00:08 AM

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

As an entrepreneur, i don't like idle assets, which can't generate income, so if i have $100k in cash then i will invest 75% of it into bitcoin and the rest to make my business bigger. predictions about bitcoin prices that will create new ATH in the future will definitely happen.

bestcoins1

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Quote from: bitgov on December 23, 2022, 12:06:56 PM

But if you are new - than you should learn to invest so that you don't lose money.
I made an investment - and I did a terrible mistake - maybe I won't do it again ever in my life again.

Even though mistakes in the past in investing can also be a very valuable lesson for you so that you are no longer wrong in the future at the same job, namely investing. Because you can immediately analyze where the mistakes are so you can immediately fix them when you want to invest again at another time or at a different time. Because for some people, giving up on a job that is being done for the first time is not a good solution even though everyone has the right to make investment decisions.

og kush420

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Quote from: xSkylarx on December 24, 2022, 11:32:05 PM

The price of bitcoin now a days is not affordable like it was in previous weeks because the price is starting to climb. Though most of us here will say that anytime is the best time to buy, it is better to buy now than never. As long as you have money to purchase bitcoin, you can do so, regardless of whether the price is high. I am really hoping to be fruitful in the coming years, and I want to see another ATH. So cheers for the upcoming years!

the upcoming year will be more troublesome
In our region there is so much inflation and the cost of living has increased so much, people are not investing in anything because there is so much uncertainty. They only look fwd to full fill there needs

xSkylarx

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Quote from: Sayeds56 on December 24, 2022, 11:25:30 PM

Quote from: capedbaldy on December 24, 2022, 06:48:51 PM

Quote from: jeraldskie11 on December 24, 2022, 05:55:07 PM

In my perspective, investing in Bitcoin would be great because even though the price of bitcoin is falling, we can't deny that buying at lower price in Bitcoin is a discount. The more the price down, the more discount we get. Even though Banks is not risky but 3% annual rate is so small. By the way, base on my analysis of Bitcoin chart, we are in the very support area where demand is, and I will take this an opportunity.

We have an opportunity to buy BTC at a discount so don't waste this opportunity, I believe when the start of the year will easily reach $20k within a few days after the market recovery, I have allocated most of the funds from the bank for crypto investments and yearly we will get big profit because i believe BTC can reach 100% profit or $32k from current price, so why should we expect 3% profit from bank interest profit.

Yes! It is best way to use money wisely when you avail this golden opportunity to invest in Bitcoin which is now available at very good price, and we might not see such low price in our life time. Though nobody can say with guarantee that Bitcoin will not slide down further, but as inflation is coming down, beginning of economic recovery in possible in 2023 which will certainly have good impact on all financial market including Bitcoin.

The price of bitcoin now a days is not affordable like it was in previous weeks because the price is starting to climb. Though most of us here will say that anytime is the best time to buy, it is better to buy now than never. As long as you have money to purchase bitcoin, you can do so, regardless of whether the price is high. I am really hoping to be fruitful in the coming years, and I want to see another ATH. So cheers for the upcoming years!

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Quote from: capedbaldy on December 24, 2022, 06:48:51 PM

Quote from: jeraldskie11 on December 24, 2022, 05:55:07 PM

In my perspective, investing in Bitcoin would be great because even though the price of bitcoin is falling, we can't deny that buying at lower price in Bitcoin is a discount. The more the price down, the more discount we get. Even though Banks is not risky but 3% annual rate is so small. By the way, base on my analysis of Bitcoin chart, we are in the very support area where demand is, and I will take this an opportunity.

We have an opportunity to buy BTC at a discount so don't waste this opportunity, I believe when the start of the year will easily reach $20k within a few days after the market recovery, I have allocated most of the funds from the bank for crypto investments and yearly we will get big profit because i believe BTC can reach 100% profit or $32k from current price, so why should we expect 3% profit from bank interest profit.

Yes! It is best way to use money wisely when you avail this golden opportunity to invest in Bitcoin which is now available at very good price, and we might not see such low price in our life time. Though nobody can say with guarantee that Bitcoin will not slide down further, but as inflation is coming down, beginning of economic recovery in possible in 2023 which will certainly have good impact on all financial market including Bitcoin.

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Quote from: jeraldskie11 on December 24, 2022, 05:55:07 PM

In my perspective, investing in Bitcoin would be great because even though the price of bitcoin is falling, we can't deny that buying at lower price in Bitcoin is a discount. The more the price down, the more discount we get. Even though Banks is not risky but 3% annual rate is so small. By the way, base on my analysis of Bitcoin chart, we are in the very support area where demand is, and I will take this an opportunity.

We have an opportunity to buy BTC at a discount so don't waste this opportunity, I believe when the start of the year will easily reach $20k within a few days after the market recovery, I have allocated most of the funds from the bank for crypto investments and yearly we will get big profit because i believe BTC can reach 100% profit or $32k from current price, so why should we expect 3% profit from bank interest profit.

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Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past, if we wanted to invest in stocks, we needed at least thousands of dollars, but now with $ 100 we can buy and choose the stocks we like, especially the presence of an application on a smartphone, which of course makes it easy for investors to invest, besides that it's even better if we also invest in the types that are currently trending, namely cryptocurrencies.

Investment is paramount at this time and we should not forget to split out funds when we consider investing our funds. I like putting our money in different basket so that we can reap what we have saw and eventually if anything happens, we would be able to adjust and with the help of other investments, we can take funds to balance any lapses. This is why it is good to split investment into different sectors so that we can be rest assured of the safety we could get when our money is in different channel.

jeraldskie11

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In my perspective, investing in Bitcoin would be great because even though the price of bitcoin is falling, we can't deny that buying at lower price in Bitcoin is a discount. The more the price down, the more discount we get. Even though Banks is not risky but 3% annual rate is so small. By the way, base on my analysis of Bitcoin chart, we are in the very support area where demand is, and I will take this an opportunity.

Pamadar

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Quote from: Rockstarguy on December 23, 2022, 07:47:56 AM

Quote from: Lubang Bawah on December 22, 2022, 09:44:49 PM

Compared to a deposit, of course, investment is the best option to continue to grow our money, in the past, if we wanted to invest in stocks, we needed at least thousands of dollars, but now with $ 100 we can buy and choose the stocks we like, especially the presence of an application on a smartphone, which of course makes it easy for investors to invest, besides that it's even better if we also invest in the types that are currently trending, namely cryptocurrencies.

Some people will prefer to deposit their money in the banks because they do not know what to do with it and this is not the best. The reason why people deposit their money is because they lack ideas on how to invest it. It will be best to always go for investing, depositing money is not of any good because it won't add value . Money is suppose to grow and this can only happen if money is invested. It is important seek for knowledge to get understandings how to grow money. Growing money might not be just in crypto alone, but in other areas , investing is always the best option on to make money get value.

Afraid of wasting their money if they are holding it, saving everything inside the bank is the first option and after that they will let it and be contented with small APY coming from the bank.

It's not a good way like what you said, investing is the best practice if you know what to do
with your money, finding the right venue to invest in and choosing the right project to invest
will give you a better chance to grow your money.

Topic: Use your money wisely. Invest or Deposit ? - page 9. (Read 4689 times)