If you have a lot of bitcoin, should you spend it or save it?

[Kabul]

I think it depends.I know holding your bitcoins is always profitable as it's price keeps on rising.But there are some situations when we are in the need of money so at that time we cant wait for it's price to rise .So at that time we have to spend our Bitcoin. According to me ,we not earn only to save but also to fullfiil our needs .So according to me the smart way is to save 60-70% of our bitcoins and spend rest of them(30-40%).

I think save 100% is better because it can make you become very rich and wealthy in the future. we know that bitcoin is also and because of that. The price of bitcoin will always increase over time and time

[Skyshark]

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

If I were you, I would just hold half of it and let it stay on a passive income, while the other half will be put to work. Its better to invest it in bitcoin related projects like ICO and trading, find a good project with a good team so that your profit will have a high chance of success, study trading, I suggest joining in some trading groups so that you might get insights and know the do's and dont's of trading.

[just_Alice]

If I have a lot of bitcoin, then I will make the bitcoin as a capital for trading, and the profit I get from trading I spend to buy the things I want, so my bitcoin is not reduced and I can still have fun with the profit gained from the bitcoin

Theoretically you are right, but in practice how can you be so sure you will make money with trading? Trading is a risky business and you may also lose a lot if you don't know how to do it properly or, even if you know, just because of bad luck.

I'd recommend to OP to save as much as you can afford and to spend only what you really need to spend.

[adzino]

If I have a lot of bitcoin, then I will make the bitcoin as a capital for trading, and the profit I get from trading I spend to buy the things I want, so my bitcoin is not reduced and I can still have fun with the profit gained from the bitcoin

Quite easy to say but extremely hard to execute. You are assuming you will be always making profit from trading, which to be honest it not so easy and you won't always be making profits. There might be a time where you do a very bad investment and you end up losing a loads. What would you do then?

[bitcoindusts]

If I have a lot of bitcoin, then I will make the bitcoin as a capital for trading, and the profit I get from trading I spend to buy the things I want, so my bitcoin is not reduced and I can still have fun with the profit gained from the bitcoin

Quite easy to say but extremely hard to execute. You are assuming you will be always making profit from trading, which to be honest it not so easy and you won't always be making profits. There might be a time where you do a very bad investment and you end up losing a loads. What would you do then?

Lol, he can just trade wisely, diversify the capital into different tokens or coins.  This way he can reduce the risk of getting bankrupt in one go.  Though it would be awesome if he can implement that,  spending bitcoin without reducing the amount he is holding through taking profit from different trading activity

[unbotak]

If I have a lot of bitcoin, then I will make the bitcoin as a capital for trading, and the profit I get from trading I spend to buy the things I want, so my bitcoin is not reduced and I can still have fun with the profit gained from the bitcoin

Theoretically you are right, but in practice how can you be so sure you will make money with trading? Trading is a risky business and you may also lose a lot if you don't know how to do it properly or, even if you know, just because of bad luck.

I'd recommend to OP to save as much as you can afford and to spend only what you really need to spend.

At least trading does not always rely on luck as in gambling, if indeed he is able to adapt to market analysis then he will be able to balance the balance and cash flow of the existing fluctuations. If it's just storing bitcoin, it will not be more profitable unless you keep actively moving in the campaign or anything else. If we are still able to struggle, it is appropriate to keep capital moving and gain a double advantage, risk is something that must be understood, not to be avoided.

[okala]

Since I come to know about bitcoin it has been increasing in price time to time and saving bitcoin over times will put more profit in your pocket. Saving is far more profitable to us more than spending and the more we save the more profit we make in cryptocurrency. The system is not like our traditional systems of bankers make more money from your savings more than you but from your investment in bitcoin you can became a millionaire.

[d4z]

I would save it at this time. Unless you ofcourse need the money, you use it ofcourse.

[Xester]

I would save it at this time. Unless you ofcourse need the money, you use it ofcourse.

Ye sof course.  Me too, I will save my bitcoin as long as I can but since I have a lot of it then I would spend some to use it to beautify our house.  I will even use it to buy things for my family.  Even putting up a business so the earnings will continue.

[Shinpako09]

Gonna spend it of course, that's why you are working because you need money to spend. Especially if I badly need a fiat or I have something to buy. I'm going to spend it but of course I won't forget that I should also save some and don't spend all.

[BarbieCasino]

if have alot of bitcoin, i will devote the revenue i get to buy new smartphone. So, bitcoin i have stays intact and can continue to exist for me to use for a lot more revenue.

Well it is the smart and the best decision that you made it is very important to buy the things we want to buy. The bitcoin is the name of the profit. The currency will increase the money and in the future you will be able to buy a lot of the things like your own smart phone, I want to hold my bitcoin for the long time and to buy a house for myself.

[futile-resistance]

It will be better if you save the some of it for the future, because we will never know what will happen tomorrow. And use some of it to start a business, so you will be sure that your money will be back at you even you spend it. Making your money circulate, making you money double so you would not worry about tomorrow.

Circulation of money is very important in one’s life if you can circulate your money in a proper way than you can be successful.

It means that you can divide your money in three ways one for expenses, one for investments and one for the savings so that you can utilize them at the time of need. I do the same so that I can bear if any crisis come in future.

[eann014]

If I have a lot of bitcoin, of course I will save it. But not all of it, I will also spend some for my enjoyment. Its not bad to spend some, you must have limitations in spending to avoid losing all of it.

That's true, especially when we will use it for our family and for our everyday needs. But if that bitcoin is come from my hardwork, it is hard for me to spend it maybe I will save it and wait for the price to wait.

[Syella.A]

if i have a lot of bitcoin, I will save for the next few years for my needs and to do trading if I need it. bitcoin will continue to grow rapidly as long as there are many who use it as the main currency in the world of crypto

[Patsakkyy]

If bitcoin is too much, then you can buy yourself a property, a car or open your own business, and if you can not afford it, it's better to keep bitcoin for more profit.

[PRIMEBOSS]

Business person say that investment is better than keep saving money. I don’t know how to invest that’s why in my opinion I earn a lot of bitcoin I will start my own small scale business I will be the sole proprietorship after than I will start saving for another business. so for me first i want to earn enough amount of money then i will invest it and after that i will save the out coming money.

[stolendata]

if i have a lot of bitcoin, I will save for the next few years for my needs and to do trading if I need it. bitcoin will continue to grow rapidly as long as there are many who use it as the main currency in the world of crypto

Saving bitcoins is commendable and profitable so I will also gave preference to saving rather than spending but the saving will depend upon my wealth status by which I would be able to decide saving or spending bitcoins. But I will exercise my utmost efforts to save much more bitcoins for gaining a very sufficient amount of profit for my bright future as bitcoin is a unique entity which will fabricate all my dreams.

[wahb]

If I have a lot of bitcoin, of course I will save it. But not all of it, I will also spend some for my enjoyment. Its not bad to spend some, you must have limitations in spending to avoid losing all of it.

That's true, especially when we will use it for our family and for our everyday needs. But if that bitcoin is come from my hardwork, it is hard for me to spend it maybe I will save it and wait for the price to wait.

I think that the outcome of all investors will enhance at the same speed by which bitcoins getting popurlity it means the more popurility the more will be the profibility so according to the present situation I will must save all the bitcoins which I have because I know that I will get more profit for tomorrow than today as I know that bitcoin will be more popular among the people in the coming years.

[developer101dev]

yes for me if i have a lot of bitcoin,i should have save it rather than to spend for it..spending bitcoins only at the right time..save it for future purposes

[BlueStackz]

If by "a lot" you mean really life-changing amounts of bitcoin like six figures or more in USD terms, then I would probably cash out some of it and convert it to other assets like precious metals, certain types of stocks that have "bottomed out" and are poised for major increases, and perhaps even other cryptocurrencies that are less valuable than bitcoin but still have the potential to return greater profits in percentage terms. Of course it doesn't hurt to hold some cash also just in case we have a deflationary collapse or even a natural disaster.

For amounts less than 100k USD, however, I would probably just save it, or "hodl" as they say...since the original poster was talking about amounts of bitcoin worth around 50 cents it would not make much sense to spend or cash out in this case.

This question may have asked by many members of this forum but if every time, the person is changed; we should answer him or her gently. It may be annoying for some people but I will help anyone who I think needs it.

If someone has a lot of bitcoin then he must start his own business and invest bitcoin there. When he earns profits, he must buy bitcoin with those and hold on until the next requirement or desire.