Bitcoin as savings, emergency needs possible?

[phpartisanmaster]

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

Saving cryptocurrency is really good because the price is keep on increasing as the time goes by, there are a lot of people as well who are working on the corporate world and has a business as well and still they invest on bitcoins because of the profit that they can earn.

[Apes]

This is basically the same question as "should people put all of their savings into Bitcoin", but it happens over a longer timeframe.  Obviously the answer is no.  You should never put all of your money into just one thing, especially not something as notoriously unstable as Bitcoin.

The only emergency that it would potentially be good for is a collapse of your entire country's monetary system - but the best thing to have in those circumstances is an asset like gold, which more people would be likely to accept.

In most emergencies, you'd be better off having fiat, since you can spend it easily and it tends to retain most of its value.

Yes, I agree with your opinion, but the method I have done has not run like you do .. the use of bitcoin for now just to meet my needs and I only some that I take to exchange for money if indeed I really need it and if not, i will keep holding it .. in future i will try to invest and do your method ..

[Lwtelencio]

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

well bitcoin is also good for saving money but don't let your emergency funds belong to your bitcoin saving, just save always a fiat money for your daily needs and for emergency needs.

[leavolnhals]

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

I think your idea is pretty good. Because the bank's recurring interest rate is too small, it does not bring too much profit to you monthly. So investing in bitcoin or some periodically profitable altcoins is a wise decision.
Because this is a new market, so there are plenty of altcoins that pay a very high monthly interest rate that can be up to three times higher than a bank.

[VapeCoinKeks]

Bitcoin's retirement benefit is quite interesting, but it's a pretty volatile asset, so the size of your pension can be very different.

[Gudhal Untu]

I say that making bitcoin to deal with emergency needs is certainly wrong, if we do then we never get a good price and look like panic. Good financial management is important before investing bitcoin.

[Btcwashu]

Bitcoin's retirement benefit is quite interesting, but it's a pretty volatile asset, so the size of your pension can be very different.

Being high volatile of the bitcoin price is not the ideal to be used as a savings for emergency needs. Your losing your profit if you sell your bitcoin in a low price because you need money for your emergency needs. It's better to save fiat money than bitcoin if you use it in a emergency expenses.

[cryptojac17]

Bitcoin's retirement benefit is quite interesting, but it's a pretty volatile asset, so the size of your pension can be very different.

Being high volatile of the bitcoin price is not the ideal to be used as a savings for emergency needs. Your losing your profit if you sell your bitcoin in a low price because you need money for your emergency needs. It's better to save fiat money than bitcoin if you use it in a emergency expenses.

Savings and for emergency funding is not advisable because of volatility character, bitcoin is good and ideal for investment. For emergency funding should be kept that  easily be withdrawn.

[sharm2121]

Hey
Lemme tell you my experience.
I was investing all my savings in Bitcoins so that I could pay up the college fee and guess what ?
I failed to encash at the right moment .. I wanted to hold longer and we all know what happened.
If that wasn't worse..our country decided to put ban on btc to money transactions.
So here I am waiting for the law to change and the time to be right.
Dude.. don't do it it's.. not safe.
Go for.. the quick hold and sell high if you need money fast and just let them stay in the banks.

Yes this is true, if you want to save money for your emergency purposes just put it in a bank or safety place because if you use your investment in bitcoin and the money you invest is lower than your entry then its not good for you, because you will just lose your money.

[Feuerbach]

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

It depends on how quickly you may need money. Also it is necessary to take into account the volatility and cyclicity of the market.

[pasti kaya]

Bitcoin's retirement benefit is quite interesting, but it's a pretty volatile asset, so the size of your pension can be very different.

Being high volatile of the bitcoin price is not the ideal to be used as a savings for emergency needs. Your losing your profit if you sell your bitcoin in a low price because you need money for your emergency needs. It's better to save fiat money than bitcoin if you use it in a emergency expenses.

yes, if bitcoin is sold then our source of income is not available but if our bitcoin revenues become savings, bitcoin will not be a savings and emergency needs.

[pernah ada]

This is basically the same question as "should people put all of their savings into Bitcoin", but it happens over a longer timeframe.  Obviously the answer is no.  You should never put all of your money into just one thing, especially not something as notoriously unstable as Bitcoin.

The only emergency that it would potentially be good for is a collapse of your entire country's monetary system - but the best thing to have in those circumstances is an asset like gold, which more people would be likely to accept.

In most emergencies, you'd be better off having fiat, since you can spend it easily and it tends to retain most of its value.

Yes, I agree with your opinion, but the method I have done has not run like you do .. the use of bitcoin for now just to meet my needs and I only some that I take to exchange for money if indeed I really need it and if not, i will keep holding it .. in future i will try to invest and do your method ..

yes, I as a beginner just think if bitcoin we sell and become an emergency needs, then our income assets no longer exists.

[Strongball]

I think it's very likely to be utilized that way, a lot of us invested with bitcoins and
earning crypto are keen on keeping them with hopes of procuring profits. But in emergency
situations, I think I'll use crypto to help with the emergency situation. I know people
who have done so even if it was a red day, but they didn't have any choice at those moments.

[LuciferEveningStar]

So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?

I am using cryptocurrency for an emergence purpose only and to buy things i really need for the future, it was really good to invest on bitcoins even just a few coins because the price is keep on increasing as the time goes by and that is the reason why there are wealthy gentleman today.

[yonjitsu]

I've been into the situation so many times where bitcoin and crypto is the only way that can assists me in times of my emergency needs. It's really good to have cryptocurrencies in your portfolio and it's a worthy savings that can help you through hard times.

[c++btc]

Not bad because me also in my family i am using this bitcoin just to make sure that i have a savings in my future and in case of emergency you will be having a money to claim and that is your savings in your bitcoin wallet. It will be a big benefit if everyone do it.

[Ryanpogi]

yes very possible, do not waste your bitcoin. Please keep tabs with your savings to get you in the emergency. That's what I'm doing so I can not waste it. thanks ..

[cutiemolit]

yes very possible, do not waste your bitcoin. Please keep tabs with your savings to get you in the emergency. That's what I'm doing so I can not waste it. thanks ..

Better save for the future. We don't know what will happen to us in the future. Savings can help a lot when in financial crisis. Those who saves benefits in the future. I always save so that if I have financial emergency encountered I have something to use.

[KeijiN]

Actually why not... There is still many against it, but if you want it to be this way, go ahead. This is more profitable then a piggy

[CryptoLoverz]

What you do is very appropriate. If you set aside your money and you tube yourself at home. Maybe you do not get the profit. If you are heading to a bank, it may need the requirements of the bank. Buying bitcoin is the right move for you. With bitcoin you can make a profit. You can also trade bitcoins. If you interest. You can also search for jobs that can supplement your income from some ICOs in bitcointalk or bountyhive forums. So your decision is right for me. when your economy is very emergency, you can easily exchange your bitcoin into fiat money.