Bitcoin as savings, emergency needs possible?

[alex_gr_cc]

Bitcoin, like savings, that's a great idea. But I would not recommend 100% savings to store in bitcoin. You need to diversify your savings. It can be other cryptocurrencies and fiat money.

[airdrophunter]

Bitcoin is indeed a very good idea to put in your money rather than saving it in your bank accounts. It's risky but it's profitable in any way and is always there to save your day in times of emergency and needs. Not only that, bitcoin can eventually change your life and can even make you a wealthy person.

[arin_muah]

I do not think investing in bitcoins to use for emergencies. This is the market for investment. And this field is constantly going up and down. So if you buy it at a high price when you need it for emergency and if the bitcoin price is low then you have to sell it. This gives you damage.

if bitcoin use to emergencies think, it very unsuitable.bitcoin volatility make our asset value change minute by minutes.for example if you want withdraw you money when in emergencies condition, meanwhile its value dropping.is it acceptable for us?

I agree with you. thinking about it, I feel that bitcoin is not suitable for urgent needs. bitcoin is better in long-term investment tool, or in trading. sell it in a low price just because we need money to make us a loss. so, to avoid it, saving cash is one of the best ways.

good opinion.much people dont consider about this case.just use only free money when we want to invest in bitcoin or other cryptocurrency.evenmore use for emergencies condition, this is not adviced

[dario.93]

It all depends on how badly you gonna need the money because it definetly takes a while to get the money you so badly need in cash so that may be not the best option in case you are in financial trouble.

[resty]

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! Having easier transactions are already embedded in cryptocurrency related platforms compared to banks. These apps that are created as wallet are so easy to access and download in our smartphones. We can convert our funds in our local currency or into cryptocurrency specifically bitcoin. Like what you said we can earn profit from it and can lean on it in emergency instances.

[max fray]

but I don't investing money that I get from my regular job.

The same thing here - I'm a bit afraid of investing my hard-earned money from my full time job.
Frankly, I could sell my flat, buy a couple of bitcoins and wait for them to be pumped in like half a year, but that seems too risky and I could become homeless if this venture fails.
So, BTC could be a good investment but only in case you've got nothing to lose..

[rommelo24]

I considered your thoughts and you have point! But other than investing in bitcoin i will still consider putting money in the bank. and set aside cash inside ths house for emergency.than sacrifice selling my bitcoint investment for emergency need at low cost!

Yes banks can make your money safer and incase of emergency you can directly withdraw your money. In bitcoin you still need to trade it in order to exchange it into money. What if the price is low and you needed the money so you might get lose.

[dongyi17]

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?

Your Idea is great, but the price is of bitcoin is unpredictable,,maybe you loss your investment if the bitcoin become lower, I suggest, when bitcoin gets high,, sell it and encash it then take a insurance or health benefits so if you have something happen to you the insurance will pay your bill.

[andrei56]

I think it is not a good idea to make our savings in Bitcoin, because its price is very volatile and there is already a high risk of dropping down anytime. It is better to keep our savings in fiat currencies, since it have a stable value and also it is simpler and easier to use offline than crypto currencies.

Why do you want to keep your savings in fiat? It is true that fiat does not move as much as bitcoin but the problem is that fiat always moves down in the short term and in the long term, while bitcoin can move up and down in the short term but the chances that is going to move up in the long term are enormous, so if you ask me it is way better to have your savings in bitcoin than in fiat.

[LovelyFLOWER]

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 joined bitcoin because l want to save also for my future. I can save bitcoin if l don't money. I will just cash out on my emergency needs so that I have savings for the future. Bitcoin will be my inspiration to meet my dreams in life.

[dogz12]

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 you must separate an amount as an emergency fund. Considering your investments as an emergency fund might not be a good idea. You can never really tell when you will be needing it and if the occasion arises and the selling price is much lower than the buying price then you will be at a loss.

[danwanyd]

We're in a volatile market, prices can change at any time, and we can't use bitcoin as a tool to help us do something unexpected.

I prefer to deposit money in the bank to meet urgent needs. Bitcoin is a long-term investment.

[yakafi]

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 Impossible, You save bitcoin for emergency needs
 You prefer save your money in banks for emergency needs and a half of money for invest in bitcoin.

[nightxglow]

Yes, you can use bitcoin as saving and use that saving for emergency needs.
I think you do good thing, instead of putting your salary into piggy bank, which absolutely won't give you anything, you should try to invest it into cryptocurrency.
Choose the good coins that may give you profit, so you can use bitcoin as saving and also as investment that may earn you extra money.
If you need that, you just need to convert your bitcoin, and it's done. Easier than if you need to lend money or such.

[Apes]

I prefer bitcoin as a savings for the future, because I see the market situation is not growing and bitcoin prices are down so I prefer bitcoin to the tube .. but if I do need it and very emergency most likely I will use it only for emergency needs ..

[Indra32]

Yes Bitcoin is a saving for the future and can be needed in an emergency
if i really need it then i will sell some of my bitcoin for my needs

I think Strategy out is a long time movement because you have to wait for the right price to convert your money into a fiat so you will not be able to access your funds immediately.
Emergency money should be in fiat form.
Considering bitcoin investments as emergency money does not seem like a brilliant idea because it means that once you need the money, you have to sell it at market value and can sometimes be below your entry point.

[fcf1081]

Bitcoin as savings and emergency could only be possible if you have already bitcoin save in your wallet then you trade during good condition when its value is high then yoi encash it and save for emergency

[Soots]

We're in a volatile market, prices can change at any time, and we can't use bitcoin as a tool to help us do something unexpected.

I prefer to deposit money in the bank to meet urgent needs. Bitcoin is a long-term investment.

Well you can keep and save your bitcoins in your wallet. But I preferred yo have some money save to my bank accounts specialy in atm card. Emergency and other some unexpected event you nedd a fast assistance its better to have your cash in most accessible way like atam machines. You can convert your some btc coins to the currency that you use on daily needs. Some of your btc can store your btc wallet and can use to invest on your desire projects. Its up to on how you manage your coins its just a matter of balancing and analyzing the  things that you think is more important.

[josephpogi]

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?

Sinnce most of my money in crypto are from my hard work from trading, joining campaigns, airdrops and etc. If you are going to put your money on bitcoin, you should really make a good entry, buy cheap, hold, or if not, let's hope that when you need money, you are in a good position to sell too.

[iged_war]

In case of emergency you can not encash your money so easily. There is still a process to follow . And what if the time that you need money is the time that the cost of different digital currencies is at the lowest price. You probably have a regret to sell or trade it on the market.

so it is not adviced investing using emergency fund.this used only for urgent needed that can happen anytime.invest with this money make us in trouble if we are in urgent condition.it could not liquidate soon.