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Author Topic: Bitcoin savings account?  (Read 4196 times)
Casabrandy
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July 15, 2017, 06:35:25 AM
 #121

Is there any upcoming project that would act like a bitcoin savings account?

What do you mean bitcoin savings account? is it like a bank that giving any interest of the money you lend it to them.
For me it is good to do bitcoin savings through putting it in the bitcoin wallet address. Like Electrum, bitcoin core, multihd, and etc.

Saving in the wallet will not grow your bitcoin, whereas when the bank is present it will probably grow your bitcoin. Because they provide interest facilities for customers? Investing bitcoin would be more risky than storing bitcoin in a bank? But for now store bitcoin in the bank not yet present


A lot of bank are also not good, we all know that bitcoin value is unstable and bank will use it as their advantage, they can change the amount of value of bitcoin when its time to exchange it to fiat. They will use the unpredictable value and take advantage into it. Bitcoin wallet for me is better.
when i see how wallets gives a lot of better transactions conveniently, i stop using banks other than getting my salary and doing cashouts . I prefer biycoin transactions now that lining in bank tellers.

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July 15, 2017, 06:36:56 AM
 #122

Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.

You don't have a bitcoin savings account. Your own wallet is already good to be your own savings account. And when the price of bitcoin is increasing just think that you are earning an interest from your deposit or holding amount.
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July 15, 2017, 06:41:44 AM
 #123

Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

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July 15, 2017, 07:48:40 AM
 #124

Is there any upcoming project that would act like a bitcoin savings account?
That is an idea of bringing Bitcoin into the banking system, this will happen when banks and crypto currencies are now working hand-in-hand.

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July 15, 2017, 08:04:36 AM
 #125

Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

Ha ha.... 4% interest on bitcoin, which is an appreciating asset? How do they generate these returns?
And what happens if they fail to generate these returns. The better option is cold storage and taking advantage of airdrops like byteball.


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July 15, 2017, 08:20:51 AM
 #126

Freebitco.in  you get like 4% interest annually but I wouldnt trust my money everywhere

Ha ha.... 4% interest on bitcoin, which is an appreciating asset? How do they generate these returns?
And what happens if they fail to generate these returns. The better option is cold storage and taking advantage of airdrops like byteball.

This is not that much really

At any decent exchange you will get a lot more on average, though your interest is not guaranteed there, of course. But, strictly speaking, it is not guaranteed at freebitco.in either. Regarding generating returns, freebitco.in is a dice site, and they have a house edge which is way higher than at most "regular" Bitcoin dice casinos out there. The house edge across the "market" seems to be around 1%, while it is like 5% at freebitco.in (if I'm not mistaken). Further, they are aggressively advertising via Google AdSense, so their revenue flow from ads may be well above interest payouts (read it can be quite profitable overall)

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July 17, 2017, 08:53:06 AM
 #127

Savings account is save money and when you withdrow your money at the savaral time you will gotten some interest but bitcoin don't give you interest thought bitcoin rate ups and down.

You don't have a bitcoin savings account. Your own wallet is already good to be your own savings account. And when the price of bitcoin is increasing just think that you are earning an interest from your deposit or holding amount.
Actually I can see as bitcoin savings to your own wallet. Just kept holding your bitcoin because for sure price will increase again. Though dump for now it will risen, just kept and HODL.

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July 17, 2017, 09:35:02 AM
 #128

Is there any upcoming project that would act like a bitcoin savings account?
Savings account are supposed to generate a profit on an annual basis when money sits idly in ones account, but with the volatility of bitcoins, it will be hard to calculate profits accrued by the end of the year, I believe saving your bitcoins in your account is the same as using a savings account where you the banker and the customer at the same time.

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July 17, 2017, 10:40:59 AM
 #129

I do not think so, but if anyone can make a bitcoin wallet address for someone else like building a bank in their own wallet for others especially keeping the security of other people's money Smiley

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July 19, 2017, 01:58:17 PM
 #130

I do not think so, but if anyone can make a bitcoin wallet address for someone else like building a bank in their own wallet for others especially keeping the security of other people's money Smiley

yes this is quite difficult and strange to see that how bitcoin network is working and the price of the bitcoin is now very high bitcoin is now very easy to keep save and secure from robbing and stealing bitcoin network has invented a lot of online wallets for this purpose and those are known as hardware wallets so it will be easy to keep your bitcoin save in it.




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gulshan1
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July 22, 2017, 04:55:16 AM
 #131

offline wallet is the best way for saving bitcoin in account . by this way you save your bitcoin very safe and secure . so many offline wallet are available in the market and another way you can download bitcoin core wallet from internet . it will take time but this is the best way to save.

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Forhadm
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July 22, 2017, 05:57:11 AM
 #132

I have a bitcoin saving account it is Ethereum Wallat  account i think my earns bitcoin btc are saving to this wallat account also be think at feture I will get a good respons.
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