Bitcoin as savings, emergency needs possible?

[agentx44]

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?

Yes i think it is possible. You could use bitcoin as your savings while you are holding it inside your bitcoin wallet. It is good to know that you are saving your bitcoins, so you could use it for emergency purposes by converting first your bitcoin into cash. You don't need a bank to save your money because you can also used your bitcoin.

[cherrymobile]

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?

for me bitcoin or other tokens or cryptocurrencies earnings can be emergency money in the times of needs. life is important than fancy things or even money. bitcoin is one of my choice when in the time of needs i will never think twice to spend my all of my earnings in bitcoin when in the time of emergency

[diickydbo]

I agree with you, bitcoin can be used as a savings for urgency. Because I've felt the functionality and usefulness of the bitcoin I hold for use for urgent purposes.

[fatirborju]

I disagree if you say bitcoin as emergency money, because for me bitcoin is everything, bitcoin has helped me improve my family's economic life bitcoin is a saving for me to save money in digital currency, for future use, and there also the currency I have used for my family's ..

[poli.isk]

you can buy just for investment, or for storage, if there is no option where to invest money or where to hide, you can put in bitcoins. sometimes the percentage can be deduced

[Glorious04]

Goodluck to your new found investment dude. Well, not everyone finds it profitable anymore for short term investment. If you need your money in times of emergency your will have to sell your bitcoin prematurely and it you will either lose or gain so it is not so sure for a profit, for long term maybe. I do participate in bounty campaigns for additional income.

[muratdur]

Yes, why not. but that saving can not be very stable in prices and it can be dumped low or even die oneday, so you decide by own

[yanlap]

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

It is possible to use Bitcoin in the time of needs and emergency but there are several conditions you have to understand it. The value of Bitcoin is volatile that is it sometimes goes up and sometimes goes down. Paper money on the other hand is a bit consistent in the value. But yeah Bitcoin can be used as money in emergency as we have innumerable BTMs installed across the Europe which gives you cash in terms of Bitcoin. And what good would it be if the hospitals start accepting Bitcoin.

[Kisanaq]

Bitcoin is a very promising investment, another thing that makes me like bitcoin is currently supported many exchanges that can swap to fiat or vice versa in minutes or at most 1 hour, this is of course bitcoin is fit we made emergency needs.

[zhanyiguai261315]

Sure, if you save some BTC for the future! This is a very good plan!

Because BTC is sure to rise in the future, BTC's savings will provide financial security for your future life!

[tumokatok]

Sure, that's my idea. The crypto market and the blockchain industry will be the trend of the future. That opens up many opportunities for you to make a profit by investing in crypto as a long-term way of accumulating an effective savings. If you give up savings and deposit at the bank, it is completely unprofitable and effective. Instead, you can invest in bitcoin, eth. Long-term safe options that have the potential for significant growth in interest rates.

if we keep it as well as for investing in bitcoin and we can also easily use it if need money for emergency situations, and it will be more profitable. I agree with you, bitcoin can be used as a savings rather than keeping it in the bank

[BlueStackz]

Instead of investing in a different field with long periods of time and relatively low returns you should invest in bitcoin. Bitcoin is more like a savings account, longer term and a big profit for you.

It is a fact that bitcoin is truly akin to some good bank saving account that pays you off more than what you really expect. It is for sure confirm that you are going to have some decent profit but it totally depends on you that how you are going to play with it. You need to understand those crucial moves and times which can get you edge over others and make you richer. You need to hit iron when it is red hot.

[dario.93]

We definetly should not interprete a long term investment i.e the bitcoin as the money that we could use in case of emergency since it is not easily convertable into regular money and much more simple to access your savings in bank instead.

[d0flaming0]

bitcoin as a saving for emergency purpose is not a bit wiser, to think that most investors think of it as a store of value and must be keep for long term as pure savings, i guess you will only regret selling it. If possible you can have your own currency as savings intended for emergency purposes, and i think that might be wiser.

[Mr.John19]

Yes of course bitcoin can be saving. This a smart thought but you require a backup funds’ assets of the crisis additionally because the bitcoin value changes it is too volatile. Imagine a situation in which there is a crisis, and the value of the bitcoin is on the low segment you will change over it. If you know, you would the debt be able to your related family? If you would be wealthy, think of saving and additionally as getting.

[BitcoinPaw]

At my opinion bitcoin is extreamly bad for any savings, you never know what gonna be with price in 1 month because everything changes fast but want to save money in bitcoins? Think twice man.

[kimochidesh]

Bitcoin as savings is a good idea but only for general savings. It’s actually a bad idea for serving your emergency needs because during such needs you need urgent money. This means that you have to sell your Bitcoin without considering its price. So you might have to sell you Bitcoin holdings even if its value is very low or it causes you some loss. So think about it.

[lelangsabun]

bitcoin savings is a great idea, but for the emergency one i think still prefer saving some in the real money , because fiat money are recently used in a common economic payment and many more of course, so fiat are still better for the savings anyway

[Bacotan Bae]

I suggest not to rely on bitcoin to meet emergency needs, we all know and understand that bitcoin is volatile so if we sell at emergency then we will get a cheap price.

[andrei56]

Right now I would be more supportive to that idea, than the time, when Bitcoin was falling and falling again It is good to have few

But that is the point when bitcoin was going up nothing has changed, bitcoin was still as good as it has always been, and then it started to fall but bitcoin was still the same bitcoin, what changed was the amount of money that people where willing to put into bitcoin, and if you want to save in bitcoin this is something that you will have to deal with.

you are right. if you keep the money you have in the form of bitcoin, there are only two possibilities, the money you have will decrease, or will increase. it is the real thing. although bitcoin is great for long-term savings, but do not use the money you need for this.

Correct, bitcoin has basically two ways to be used, the first one is to buy bitcoin and then use it immediately, you are using bitcoin as a currency that way you are avoiding to lose that much money due to the variation in the price, the second way is to use it as an investment and you are looking for the opposite, you are looking to take advantage of the volatility of the market and make profits that way.