Which is better for Nigerians: saving in Bitcoin or saving in USDT?

[Sonia_123]

So the question is, for someone in Nigeria who just wants to save money safely, which is the better option: Bitcoin or USDT? Or should people combine both?

Would like to hear from others who are already using these methods to save.

Why should you be converting your Bitcoin to USDT when you are out for saving, what is the need of disturbing your investment when you have made your vow to hold Bitcoin and suddenly you get scared to convert them to USDT, what if Bitcoin starts rising and you are not aware, will you buy back and loss the initial quantity of Bitcoin you had before?

I don't hold USDT or save in USDT for any reasons, I only convert to USDT when I want to perform p2p trades, all my assets are in the coins I bought, no matter the price action that happens, I don't dare convert to USDT trying to save myself, instead I buy more.

Converting your Bitcoin to USDT whenever market goes red is an investment error, allow it to depreciate in value, be happy of that sudden price drop, grab the opportunity if you have spare money and bag more.

You can only convert to USDT if you are a daily trader, quick profit earners can only be advised to do such.

For saving, I will prefer Bitcoin, because I want to save for my personal needs,I save for a long-term therefore saving my money in bitcoin will be more beneficial to me irrespective of the market price, it is normal for the price of bitcoin to be unstable , even if it drops as long as you are saving for long term,it will definitely rebounce back while for my daily expenses I will go for usdt because I can't be tempering my savings anyhow because of my daily or monthly expenses since they are needed to be spent daily.

[Y3shot]

If the money won't be used for a longtime then I think it is best to invest it in bitcoin because bitcoin is a good store of value that increases the value of money. But if the money is one that you know it can be use in any short time then usdt is not bad because it is more stable than the naira and it won't be good to keep money in bitcoin which will be use at anytime because bitcoin is a volatile asset that the price can increase or decrease at anytime and if the price falls when you are in need of money that means you are lose. So, for longtime savings bitcoin remains the best because it will definitely add more value.

[Iamgoat]

If the money won't be used for a longtime then I think it is best to invest it in bitcoin because bitcoin is a good store of value that increases the value of money. But if the money is one that you know it can be use in any short time then usdt is not bad because it is more stable than the naira and it won't be good to keep money in bitcoin which will be use at anytime because bitcoin is a volatile asset that the price can increase or decrease at anytime and if the price falls when you are in need of money that means you are lose. So, for longtime savings bitcoin remains the best because it will definitely add more value.

I will also go with this formula. If it's a money you want to keep for long term need or plan, you keep it in bitcoin so you enjoy every benefit which will be coming with it. It is advantageous to save in bitcoin because it is a futuristic digital asset, it aoes you to benefit fom the system once you invest in it for a long time being it lump sum or DCA. You can monitor the market prices  or even set a limit order for a specific amount you have in mind. Once your target is met, your order will be locked down automatically.

[Ever-young]

Making a choice of which option to explore depends on the term and your reason for saving the money. If you intend to save your money for the short term, maybe you've got something you plan to achieve by December and you wanna save up, then USDT is the best option for you. But if you're planning to save or build up wealth for the long term then surely, Bitcoin is your best option, whether a Nigerian, an American or whatever country, the result is still the same.

[B-BossMan]

He go better make everybody get privacy for him funds, but all depends on how guickly u need your money and the purpose wey make you save am for a particular wallet, ideally if you wan boost am or you wan make your funds increase in growth weller e go better make you invest am for Bitcoin investment wey be long-term investment, again if you can need the money within few days or weeks e go better make you just put am for USD wallet or even for person wey dey Naija wey want safety for him found can easily save on USD for naira depreciation, just save am for your convenience bank account wey go dey easier for you to make use of am.
Although, everyone get his or her own financial goals and target in any aspect respectively.

[Adams0001]

He go better make everybody get privacy for him funds, but all depends on how guickly u need your money and the purpose wey make you save am for a particular wallet, ideally if you wan boost am or you wan make your funds increase in growth weller e go better make you invest am for Bitcoin investment wey be long-term investment, again if you can need the money within few days or weeks e go better make you just put am for USD wallet or even for person wey dey Naija wey want safety for him found can easily save on USD for naira depreciation, just save am for your convenience bank account wey go dey easier for you to make use of am.
Although, everyone get his or her own financial goals and target in any aspect respectively.

Na the thing be that, if you don't have the need of the funds currently you can invested it in bitcoin and get the benefit for the long term, but if you get the used of the money in few days or month you can probably leave it in usdt so that the money won't decrease, because if you invest in bitcoin he short term you can probably be in lose anytime you need the money. But usdt won't drop like bitcoin when you keep it for short term. Saving and investment are two different things if you said savings that means he just like a bank that they save money for just periods of time, anytime they need it they can have access to it and spend.

investment you need to keep it for long term, thing you have the benefit before you can sold your coins and enjoy the benefits. So savings you can keep it in usdt since naira don't really have value like dollar, and if you want to invest you can invested in Bitcoin and you will be profitable for the long term and if you invest in usdt. I don't think you can be profitable like how you will get huge profit in bitcoin. But everyone have is own choice and know what will be better for him and be profitable.

[PremiumcryptoHub]

Making a choice of which option to explore depends on the term and your reason for saving the money. If you intend to save your money for the short term, maybe you've got something you plan to achieve by December and you wanna save up, then USDT is the best option for you. But if you're planning to save or build up wealth for the long term then surely, Bitcoin is your best option, whether a Nigerian, an American or whatever country, the result is still the same.

Yes which one to explore depends on your own goals and timeframe because if it comes to depositing money only for a monthly expense then USDT would be the best. However for long-term savings and to protect money from inflation, Bitcoin would be best for everyone, not just Nigerians. The key is to consider the present value of money when it comes to our savings and we need to consider what our financial needs will be in the future. Maybe it is worth knowing that saving and investing are two different concepts because the return on investment is high but savings do not have this potential, so it is largely correct that Bitcoin is best for depositing.

[Progress101]

Would like to hear from others who are already using these methods to save.

Both Bitcoin and USDT actually serve different purposes depending on your financial goals.
If your main focus is capital preservation, like you just want to protect your savings from the falling naira, then USDT is the safer option. It is stable, not so risky, and directly mirrors the dollar’s value.
However, if you were thinking long-term and can handle market volatility, then Bitcoin can offer growth potential over time. Its value fluctuates, but historically it has appreciated significantly across long cycles.

[Doan9269]

USDT is pegged to USD value, but it's crypto, while it's behavioural characteristics are like that of fiat, inflation can loom in, it value can decrease at the cause of time and we can't compare it to that of bitcoin, being a volatile digital currency, that is also profitable with time, when you have the intention of holding, then know that bitcoin is the only way for you to achieve on this, because it's all about increasing in value over time when we hold it, it shows a strong ability not profitable investment with time, forget it rises and falls the end result is what matters over time.