Is Bitcoin a Safe Haven for Your Money?

[MURONDI]

although I am a supporter of bitcoin but I don't agree if bitcoin is considered the safest place for our money, something that uses digital is mostly risky especially if you are not careful, in my opinion the way to secure our money is to buy property like land, some banks also have guarantees from the government so it can also be to secure our money.

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[Murat]

For me, Safe heaven means there is no anxiety and worry about anything, Actually, Bitcoin is not like that, If you have Bitcoin for the holding, Investment or any other purposes then you must be worried about some news like price volatility and the market condition, not only that but also you should also take some precautions regarding the safety of Bitcoin. so how could you say Bitcoin is a safe haven for the money. I don't agree with you on this point, In this world, nothing is easy but something should be convenient for you otherwise you can't breathe freely. So I think Bitcoin would be that kind but who knows when it would be.

[julius caesar]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

If you know how to properly invest in bitcoin, it will probably the best investment of them all since there is a higher chance that the value of your money will increase twice or thrice of its price. It will only work if you are patient enough to wait for its price to rise up since bitcoin is a long term investment and takes a lot of time before it rises up.

[FairUser]

Nice video and the article!
https://cointelegraph.com/news/is-bitcoin-a-safe-haven-for-your-money
Must watch

For me, Bitcoin is not a safe place for us to invest in this market. And the whole market is also insecure, you can get a lot of profit if the market is pumped and also lose if the market collapses. The bigger the profit, the higher the risk of loss, if you want to be safe in this market, you should choose stablecoins. It is very safe and less volatile than other altcoins

[Dhoe]

Yes I do agree Bitcoin is safest haven only until you wait for the long term. Should have patience and wait for the market to pump, it's more profitable than you think at the same time you should protect your private keys and password safely and should not forget the wallet address. Investing in Bitcoin for long time is profitable and be smart enough to withdraw before the market dumps.

Safe or not, it depends on how you store your Bitcoin assets, if you only store your BTC on the Exchange, of course it's a very risky step. Always save your Bitcoin in a hardware wallet where yourself control your private key wallet.

[avikz]

Whenever the term "safe heaven for money" is used, it means a safe area for keeping your money to hide income and reduce tax burden. I don't know what OP meant here! But bitcoin can indeed be used for this reason. There are group of people who have used bitcoin to hide money trail, launder or illegally purchase items. So as per my understanding, the answer is yes!

But if you are just talking about capital protection, I am sure we have better options in hand and it is Gold. I personally prefer to use Gold for capital protection instead of bitcoin. Because the value of bitcoin keeps on fluctuating, which makes it a bad choice for capital protection. On the other hand, Gold is supremely liquid in nature and the price of Gold is not volatile like bitcoin or any other crypto assets. So for me, bitcoin isn't a safe heaven for money!

[barabarian1]

honestly in my opinion bitcoin is not a good place to save our money. because the fluctuation is high, it is not certain that in the future bitcoin will pump and the price is high. and also the cryptocurrency industry is very vulnerable to fraud. to save money I believe more in gold and land. because gold and land have always been proven safe and also its value every year always increases. and also avoid inflation.

[Johnyz]

Not a safe haven but a good investment for my money because bitcoin allows me to grow my money faster. It can only be a safe haven if you are no longer using fiat money and of course if there's a hyperinflation and in my place fiat money is still the best option and bitcoin is just an investment.

[Eugenar]

I'm pretty sure that most of the money circulating in the world aren't really tangible, most of it is digital and people transact over a network meaning to say, that the continuous development will rely on developing currencies digitally, and one of the milestone we've already achieved is to have cryptocurrency because of its strong features that will enable our funds to be secured for a long time. But bitcoin being a safe haven for our money will not be possible if we always expose our risk by utilizing thirdparty application that takes a way decentralization. Bitcoin as a safe haven could be achieve through having personal security and being responsible.

[bitvalak]

This question is directed to bitcoin investment. Is it safe? I can be sure to be safe for a certain period of time because the legal framework for cryptocurrency is still very unstable and there is no certainty yet. What can be done is to wait until there are clear rules of law and then be able to conclude whether bitcoin can be sustained for a very long period as an investment or payment instrument.

[Leonardo7]

Bitcoin has proven to be a safe haven for money for those who understand its technology and are patient enough to wait for the gain harvest. Now looking at bitcoin price movement, it has been dead many times and still came back stronger in terms of price. Now to the OP, you don't just drop video and link to the article without giving a quick background to the article or video.

[ice18]

I read the article and seems not so detailed.

You should also watch the interview he is indeed said that bitcoin is a potential safe haven that is not directly controlled by the central government https://www.youtube.com/watch?v=ExYxgsevFio  ,as for me bitcoin will serve as one of the easiest asset to buy in times of war or recessions you can easily stored it on your own and you are safe.   

[bounceback]

Although Bitcoin has a number of advantages compared to conventional currencies, it does not mean that Bitcoin has no risk, but there are some threats that are very risky for its users, one of which is storage risk because basically every cryptographic based system is vulnerable to hacking and bitcoin also has financial risk because bitcoin is one currency that is very volatile so this makes bitcoin value unstable and a problem for bitcoin investments.

[Sadlife]

You could post some of the article important sentences not just referring as to the link. Well as for the question i think bitcoin can be a safe haven it has good fundamentals and a history of always surviving any bubble. Especially when a very bad news broke about US & Iran War. Bitcoin surge along with oil and gold. Showing people trust Bitcoin more than ever and with its growing hashrate the rise of people using of bitcoin adopting to newer techs.

[airdnasxela]

Not really a safe haven for our money because of the volatility and the risk that Bitcoin encompass. Bitcoin is good for investment but doesn't mean that it assures our investment to grow and earn cause of higher risk. In the article is says that bitcoin is a safe haven in the context of war and recession. With unstable and unwanted things that can happen in the economy, their alternative is cryptocurrency which can really help to secure their money. But not all the time we can say that Bitcoin is a safe haven.

[Furryball]

Bitcoin has proven to be a store of value that just works if you have the patience, when down it always find its way up sooner or later, no other digital currencies is that good, its not a safe haven because of its volatility but its the best way to make good gains from digital currency

[nannu968]

Long time investment in Bitcoin is safe, If you were investing when Bitcoin launched in the market, you would be a millionaire today.
If you invest in bitcoin today, then it Can be conceived that you will You will become a millionaire within 1 or 2 years. but a minimum skill about trading is required.

[TitanGEL]

I'm not a investor so I do not see bitcoin as a safe heaven. There is always risks in all types of investment, I do not consider it as safe asset because for me anytime the market can crashed. I'm a mere trader who always finding opportunities to make profit. My definition of safe asset is it is an asset that can guarantee the safety of my funds. But the volatiliy of the bitcoin is too high and it is the reason why it is not a safe asset for me.

[Meowth05]

Btcoin has demonstrated to be a store of value and it is definitely a safe haven for any fiat. If there is any bad news like war, what big institution rely on is to convert their capital into Bitcoin which makes it act like a safe haven

But its price volatility makes it a high risk investment. You should know what you are getting into before you convert all your fiat to bitcoin. Though bitcoin stand out among cryptocurrencies, but the stability of its price in the market is one drawback. It is good if the price is in continuous increasing trend but what if when the time comes that you need to encash and the price is not something you expected? So what I am saying is just prepare yourself for all possible scenario because bitcoin is a high volatile investment.

And that is also a good factor for Bitcoin. High volatility rate could give a high profit at the same time though it is really risky thus if you can't take of that amount of risk then it is better if you keep out from this. People who already have experience in this field I am pretty sure that think it as a safe haven and so am I.

[YOSHIE]

Topic: Is Bitcoin a Safe Haven for Your Money?

Since I know Bitcoin, until now there have been no obstacles or things that are detrimental to me, especially in the storage or wallet that I use.

The members here have a trusted bitcoin repository for each of them, as well as you.

If, I see from your topic, I can say that the title is a bit chaotic, Bitcoin has no place, digital currency bitcoin / crypto assets are traded.

So, a more suitable title is, what is the name of the place / wallet that securely stores Bitcoin for you, maybe.