Bitcoin as savings, emergency needs possible?

[Lady Coquet]

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 believe that it is possible that you can use your bitcoin as a saving, even bitcoin's price sometimes fall down it is still possible to a savings because we believe that the price will go back, then your bitcoin will be a profit and a savings at the same time. So you could use your bitcoin for emergency purposes you could convert it into cash for you to pay.

[Kim Domingo]

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?

Making Bitcoin as an investment for time of emergency purposes is just fine thinking that we are always have the consideration to have money in hand when accident comes since hospital expenses was already taking too expensive nowadays. But I think you must not limit your thinking that Bitcoin can be just used up into such purpose because Bitcoin do have a lot of uses not just for emergency purpose. But it was really a good thing saving up your money for a great purpose because we do not even know when and where calamity comes so it is good to have money saving that is alloted for important and future purposes.

[basty03]

I think is not good if bitcoin savings and you need a immediate money when there's emergency.  I think much better pit in the bank what you earn in crypto so anytime you need a money for emergency you can get it anytime.

[sampalokmix]

I suggest that you don't save all of your bitcoins. If the market is low, you have to use your bitcoin as an emergency demand, which is very painful. It's a safer way to divide assets into different investments.

I think thats right amd hoarding is not actually applicable anytime given the fact that at some point we have some reason to use our saving for ourselves and for me I dont involved myself here to be rich although that's kinda impressive to think I just want to have some  way to earm profit and dont get me wrong saving is also great it jist that there will be a time that you need to spend it.

[anehh]

Considering bitcoin investment as emergency money doesn't seem a bright idea because this will mean that once you need the money you should sell it a market value and sometimes it could be below your entry point.
The exit strategy is a long time movement because you must wait for the right price to convert your money into fiat so you won't be able to have access to your funds right away.
Emergency money should be in fiat.

Yes, I think so. Investing money in bitcoin and considered it as your saving for emergency needs is high risk. When you want to exchange or convert it into fiat money, of course you have to sell it with the current market price. Actually, there is no certainty that the current price has is higher than your previous buying price. Here you may undergone loss or profit.That is why it is risky. So, just use short term investment using your idle money and for urgent daily needs or emergency need, it is better and safer to save your money at bank using fiat money.

[cyberkuto]

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?

Indeed, bitcoin is good for investment. Of course,  there are times that the value is down,  but most likely,  the trends is always up.  Of course,  when you invest your money on it, you could use it anytime,  especially for emergency needs.  So,  it it's a thumbs up or highly recommended to invest on it.

[Lexurdania]

Bitcoin have a biggest liquidity in market. I think we can make investment and as emergency funds at the same time. But we should remember that bitcoin price always fluctuate and its very risk. Better keep emergency fund on our bank account because there is not much risk

[randyg29]

Yes it really helps me in that way when I need some extra money to an emergency needs because I know that my regular job has not big enough salary to save in my wallet. And I think working here while doing my regular job is the good Idea and so far since I started last here it give me some extra money to buy and pay some of my bills with the help of it.

[Bobocantik]

I dont think that it can be considered as "emergency needs"

Take in consideration that if you are dying, and you need some money, what are you gonna do? How are you gonna convert your bitcoins to fiat in less than an hour?

[cryptoalfs76]

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?

Actually this thought is great and true that bitcoins can be used in emergency needs,especially when catering immediately our needs and wants,because we can convert it easily through paper money,or we can use our local exchange wallet to pay our  monthly bills instantly without hazzle and free,however  bitcoin there is some negative effect because sometimes your fund will going down  because of price volatility,but this is only a small bit of impact  but the whole things in bitcoin will have  a great positive outcome.

[Sled]

Bitcoin is a good way to do saving but it is best for you to just put the amount of money that you can afford to lose because if you will not do that then you will lose a lot of money for sure because the greediness will eat you out. So just be patient and keep your greediness down and only put the money that looks like nothing to you when you lose it.

[777Jolami]

Bitcoin have a biggest liquidity in market. I think we can make investment and as emergency funds at the same time. But we should remember that bitcoin price always fluctuate and its very risk. Better keep emergency fund on our bank account because there is not much risk

But as far as I am concerned, if you want to stock up on a safe and liquid stock, then we should choose gold. Gold is stable and less risky than BTC. BTC holders have to worry about price fluctuations, security risks. It is inconvenient to hold the BTC.

[OrangeII]

Bitcoin have a biggest liquidity in market. I think we can make investment and as emergency funds at the same time. But we should remember that bitcoin price always fluctuate and its very risk. Better keep emergency fund on our bank account because there is not much risk

But as far as I am concerned, if you want to stock up on a safe and liquid stock, then we should choose gold. Gold is stable and less risky than BTC. BTC holders have to worry about price fluctuations, security risks. It is inconvenient to hold the BTC.

Exactly. we know what makes people interested about bitcoin is because of the price. well, making it a savings for emergency needs is very risky. I would recommend using cash.

[btcyoda]

Bitcoin have a biggest liquidity in market. I think we can make investment and as emergency funds at the same time. But we should remember that bitcoin price always fluctuate and its very risk. Better keep emergency fund on our bank account because there is not much risk

But as far as I am concerned, if you want to stock up on a safe and liquid stock, then we should choose gold. Gold is stable and less risky than BTC. BTC holders have to worry about price fluctuations, security risks. It is inconvenient to hold the BTC.

Exactly. we know what makes people interested about bitcoin is because of the price. well, making it a savings for emergency needs is very risky. I would recommend using cash.

Emergency need for cash is good to hold the Bitcoin, but we don't how much the price is going to be when you need money. Bitcoin will work only when you buy them at a very low price, so you will make the profit as long as it doesn't decrease the price.

[Ondre]

I do agree that Bitcoin is not just an investment but as savings. Because you can not just easily spend outside unlike fiat money.

[mstfprcn]

there are still many people doubt about the existence of bitcoin currency and they feel afraid to invest in it. According to them bitcoin will not last long as many countries still have not legalized about bitcoin currency and its price up and down.

[Alfredo79]

Is it only about investment that you know in bitcoin? Don't you know about bounty campaign or ico?

Interesting thing when you say this to fill your emergency needed, how if you need money and the bitcoin price going down where you're at loss???

This is a big question.

Solution that i take after i know bitcoin is trading and following some bounties.

If you have an investment idea, you can use ICO. Not everyone has an idea for something new, sometimes it's easier to invest in the stock market. Everything depends on the human being.

[i_iz_vins]

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 that is a good idea but it has negative sides though. The good thing is you will have money when needed or when emergency comes but the negative is, what if the price of bitcoin has gone down when you need the money.It will have negative impact to you since you just spent too much money during the dump so when the pump comes, your money will not pump that high.

[sharnel18]

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?

Absolutely yes,bitcoin is so volatile,i agree in savings matter but for invesments?i prefer it to incash my bitcoin and save for the unexpected emergency and for the better future usage.

[Geleve]

it depends on where you live but it many countries it is easy to exchange bitcoins to fiat. in my country it takes about 1 hour to get money to your bank account from local exchange. so not a big deal.