Emmychris (OP)
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April 13, 2021, 04:33:34 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
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hatshepsut93
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April 13, 2021, 05:16:25 PM |
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The difference is that banks almost guarantees the profits that they are promising, while with Bitcoin no one guarantees anything, you can earn a lot or lose a lot. Also banks serve another vital function - they lend money to people. Because of this, banks will always exist.
If you imagine all people in the world abandoning their saving accounts for Bitcoin, it would create an enormous bubble, and the early buyers would profit from it greatly, while the late buyers would lose everything, as Bitcoin would correct by 95% or more. This is just a thought experiment, because nothing like this is going to happen, but still.
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agg2702
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April 13, 2021, 05:27:08 PM |
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I think it's about burdensome interest rates, because for me both are still equally important. As for the advantages, bitcoin provides a higher profit because you are not subject to any interest, while the money stored in a bank account every month will get a discounted interest.
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passwordnow
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April 13, 2021, 05:34:16 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
You don't assume a lot from getting a profit by depositing in the banks. They're only giving you a very tiny percentage of their profit from the deposit that you'll be putting in your savings account. They're just a place to store your cash but not a place to make money out of your money. Keeping or bitcoin is much more profitable and that's why everyone is saying to HODL most of the time. In your experience, you got a good timing when you've bought it. Congratulations!
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noorman0
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April 13, 2021, 05:38:07 PM |
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However banks are not always bad, it just happens that you buy bitcoins at the right time so you get a comparison that holding bitcoins is more profitable. -snip- I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
This means that you are building your own bank of course with all the risks be it volatility or technical. You must understand how to store bitcoins, especially the type of wallet you choose.
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taufik123
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April 13, 2021, 05:43:27 PM |
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if you decide to keep all your savings in bitcoin it is your choice. But you should also think about the risks that will occur to the savings that you save in bitcoin. Bitcoin has a high risk and nothing will guarantee the safety and integrity of your money. different from the bank which will guarantee your money.
Splitting 2 between the bank and bitcoin is good enough. this is a strategy that is safest. It's not that bitcoin is not good, but there must be a safe backup, because bitcoin is a volatile asset with high vitality.
Be careful in managing the finances you have. manage wisely and make investments properly.
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The Cryptovator
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April 13, 2021, 05:52:30 PM |
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The good decision you had taken ever. But at the same time, it would be a bad decision as well if Bitcoin dumps instead of growing up. This kind of decision would take by a risk-taker of course. And only risk-taker would be a gainer. However, you make deposits into the bank, but on the other hand, you bought some digital assets or currency called Bitcoin. Just keep in mind both aren't the same. When you bought an asset then the price of it would dump or pump as well. But the bank generates revenue and they promise a return for your deposit. But the Bitcoin is different from bank investments where no return on investment. Anyway, I have to say you are lucky and just need to take a real-time decision. Best of luck.
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Renampun
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April 13, 2021, 07:03:59 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
I know you are in high spirits but it is much calmer if you invest in both... as a beginner, it will be calmer if you invest in a stable asset such as a bank, but if you are steady and confident in yourself to invest fully in Bitcoin then it is a very good and appropriate decision.
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jjdub7
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April 13, 2021, 07:41:36 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
It is certainly much more profitable to invest/keep your money in Bitcoin and the return is much higher than banks. Banks do not stop reducing interest rates on deposits and in reality they do not want our money in deposits because they have to return it. Banks are focused on raising fees and lending, rather than collecting deposits. I also prefer to keep my savings in cryptocurrencies (particularly Bitcoin).
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milani
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April 13, 2021, 08:21:11 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Everything depends on personal aims and desires I would say in a such a way. Of course it depends what bank and in what exactly country the person use. But personally I do not prefer banks after I have learned the cryptocurrency world. But of course everyone makes personal choice. And should remember that investment into cryptocurrency is not alike the banks deposits or something like that.
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bitzizzix
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April 13, 2021, 08:57:48 PM |
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I think both are good, but bitcoin is much better and Many people still think that saving is enough to guarantee their future, even though having savings or deposits alone is not the same as financial success. It's good to have both, savings for short term needs and if you need something for a sudden need you can count on savings. and investing in bitcoin for the long term to get big profits in the future and prioritize them.
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Mahanton
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April 13, 2021, 08:58:23 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Yes, Bitcoin could really give out that kind of benefits but dont really get yourself hype too much because there's always a tendency that your savings would really be in reds or negative. This market isnt something that you can see to have continous rise.Always consider about price corrections and volatility which would give out those possible results. When it comes to annual profits or interest then no doubt and hands down to bitcoin or in other coins in the market.Its way too far in terms of that but the issue here is the assurance for long term.You cant be sure that crypto would live forever.
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Becky666
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April 13, 2021, 08:59:58 PM |
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Are you aware that the same happiness in bitcoin can get sore when it price dip?, probably the Banks will surely or sometimes give back your profit at the end of the month but bitcoin won't be sure becasue of it market volatility. Not saying it's a bad idea mate, but should be consider as a risk compare to the Banks. If we are takinf about the long-term holding(savings with bitcoin) and the savings with banks then, bitcoin is more far better than the Banks 'but'.
Should anything happens to your Banks during this period of savings they will be hold responsible but if anything to your bitcoin "you are on your own"
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concept2
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April 13, 2021, 10:33:31 PM |
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Totally agree. Bank profit is the same as the inflation rate which means you probably earn nothing. Some countries even have a negative interest such as Japan, Switzerland, Denmark, etc. Bitcoin, on the other hand, is affordable for both investment and savings. You can save your money in bitcoin but, still earn a good income over years.
However, you need to determine that bitcoin is for long-term saving/investment so that you will not be freaked out whenever the price of bitcoin suddenly decrease. Many people have lost their money in 2017 while others - ones with more patience - not just regain their start-up funds but also earn a huge profit from it.
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sheenshane
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April 13, 2021, 10:47:51 PM |
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Just make sure that you'd understand the whole concept of Bitcoin and how it works, what I mean is the volatility of Bitcoin that makes the price up to and down every now and then. Because there's a risk upon holding and it might not give an accurate time frame when is the perfect time of getting profit. And yes, you're in the right decision. Be at your own bank in Bitcoin saving investment will work after how many years of patiently holding.
If you didn't see saving your asset in the bank isn't good and might Bitcoin is the key to your problem, I suggest studying it first, it's very technical upon using Bitcoin most especially when you choose storage that you can keep for how money years.
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Oceat
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April 13, 2021, 11:33:25 PM |
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I think OP, you need to stay longer in this market to fully understand what are the risk you're taking and I can't say bad on the other side since Bitcoin and banks have their own different riskier side. So if you know what are those, you can definitely decide what you need to do with your savings.
I like both sides though but I prefer more in Bitcoin since it is convenient for me to use for now especially in this time of crisis and pandemic. Banks and cryptocurrency such as Bitcoin have their own advantage too just like the interest, profit, loans, easy access, less hassle etc. If you were a bank user before I guess you could compare both sides which do you like the most but from what I see today I think you lack of experience what the market would do to your money whether it's long term or short term.
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Kemarit
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April 13, 2021, 11:38:52 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Of course it's pretty obvious that you will not earn in banks as much as bitcoin. But banks are safe, your money is locked (time deposit), so it's a guaranteed profit for you. But Bitcoin are going to give you high yields but the risk is too high. You have some sort of mitigation if ever the price of bitcoin goes down or if we enter a bearish 3 year cycle. But for sure once the market become very bullish, you can recover what you have lost. So it's really up to you to decide, a guarantee and compounding interest on banks vs high yield buy high risk as well.
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carlfebz2
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April 13, 2021, 11:46:05 PM |
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Are you aware of the risk? If not then better check or look back because crypto investment isnt something that you can give out 100% trust.
If you are aware then its good but i dont see for it to be ideal on putting 100% of your life savings with it.Banks might have disadvantage but we cant deny
that we had been dealing up with this thing since from the start and the experience is great even though centralization is on a certain extent.
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Republikcoin.com
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April 13, 2021, 11:48:56 PM |
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I prefer to do it in both ways...
Plus, keeping assets in both of them can give us a sense of security and also that we don't miss the rocket ride to the moon by Bitcoin. We can still survive with the money in the bank, and we also have the potential to enlarge assets from the rising price of Bitcoin. Although this may seem like a doubtful person, but it is actually a safe way to protect our assets from high losses.
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isaac_clarke22
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April 14, 2021, 05:18:35 AM |
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Well bitcoin will give you either massive profits or losses. There ain't guarantees as what others mentioned in here, but on the other side you own your own money. It is your vault, you have the keys to access your money and no third party establishments would be involved.
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gabriela1999
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April 14, 2021, 05:29:43 AM |
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Bitcoin's profit is much higher than the bank. But it cannot guarantee 100%. Profits from banks are not high but it is safe and absolute. You should divide 2 parts of your assets 1 to invest in Bitcoin and 1 more you should send to the bank.
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Lorence.xD
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April 14, 2021, 06:03:36 AM |
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Bitcoin's profit is much higher than the bank. But it cannot guarantee 100%. Profits from banks are not high but it is safe and absolute. You should divide 2 parts of your assets 1 to invest in Bitcoin and 1 more you should send to the bank.
Did you look at the chart of bitcoin prices overtime? If banks were to replicate that, it will take thousands of years before they can do it. Yes banks insures that your money is safe but they benefit more on it more than you because they use your money for loans with exorbitant interests higher than the interest you can get at their bank. My only reason that I will put money to a bank is to have some sort of wallet for stock trading and index funds and other bank related transaction.
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acener
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April 14, 2021, 09:30:22 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
You should also know that Bitcoin could go down so you could also lose money from it. But I do support your idea and I think it is good for a long term holder. Because I believe that it would continue to grow in the future so we should accumulate as much as we could.
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Ludmilla_rose1995
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April 14, 2021, 09:52:36 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
You should also know that Bitcoin could go down so you could also lose money from it. But I do support your idea and I think it is good for a long term holder. Because I believe that it would continue to grow in the future so we should accumulate as much as we could. Although the value of bitcoins can decrease very quickly, over time, the value of bitcoins can recover and can even increase higher. saving in bitcoin is indeed for long-term holders. and I am also one of those long-term holders who are continuously saving and collecting bitcoins. it doesn't matter if the price falls, because the price will go up again.
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BIT-BENDER
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April 14, 2021, 10:52:55 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
I have tried the bank fixed deposit and even left it for a long time, but the profits are very small, I don't know how the banking system works in your country, but mine I the only reason I would be keeping money in a fixed deposit account is only to prevent me from using it, as for the profits it's really nothing I can hope on, but with Bitcoin and as at now it different, and more flexible, it's saving and investment all in one, and profits are better-off than that of my area's banking system, but I would sound like a broken record to say it has disadvantages and one majorly is the price can propel up, or dip low.
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AmoreJaz
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April 14, 2021, 10:54:09 AM |
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The difference is that banks almost guarantees the profits that they are promising, while with Bitcoin no one guarantees anything, you can earn a lot or lose a lot. Also banks serve another vital function - they lend money to people. Because of this, banks will always exist.
If you imagine all people in the world abandoning their saving accounts for Bitcoin, it would create an enormous bubble, and the early buyers would profit from it greatly, while the late buyers would lose everything, as Bitcoin would correct by 95% or more. This is just a thought experiment, because nothing like this is going to happen, but still.
and if i may add, with savings in the bank, you know for sure that your money is safe and secure and will not lose its value overnight. though the interest is really small as compared to other financial investments, but you can also get other benefits by keeping your money at the bank like if you want to lend in the future. just treat it as someone is securing your savings. with bitcoin, you can really get very good profits these days. however, what if the opposite happens in the market? i guess you will tell to yourself that you should have kept your money at the bank. so this situation goes to show that there are really advantages when you diversify your portfolio, you can get both the benefits of these types of investments
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Sanugarid
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April 14, 2021, 11:17:04 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
I agree with you, investing your money in cryptocurrency such as BTC has a big possibility of profit is much better than saving your money and putting it on the bank which has a low interest rate per annum. Your money on BTC will grow exponentially depending on the market movement but of course, big losses are also possible on this kind of investment. Moreover, the amount of how much your money will grow depends on the amount you've saved and interest rate which is why investing is much better compared to saving only.
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uneng
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April 14, 2021, 12:03:35 PM |
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Actually you lose money by letting your money at banks saving accounts. Besides the interest rate being already too low, the real inflation eats all the profit made. The profit you make isn't sufficient to overcome the increasement in prices you see over all the goods disponible in the market along the months and years. On long run you just lose purchasing power this way. If you want to invest through fiat you need to buy assets and stocks, although the popularization of these options make me wonder for how long they will remain profitable. Because with high popularity comes low profitability.
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michellee
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April 14, 2021, 12:29:16 PM |
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That will be your choice as we do not force you to do that thing. If you think saving your money in bitcoin form will give you more profit than saving in the banks, you are free to do that. But for your information, you need to know that saving in bitcoin will have a risk that the price can go to any price. If you can accept that risk, you can continue to move your money into a bitcoin form and hold your bitcoin. But you need to make sure that you can still buy your daily needs and still have the money for an urgent situation that might happen.
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bosede1
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April 14, 2021, 01:11:08 PM |
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No doubt Bitcoin will yield rapid profit especially the date you give but because of the volatile nature, you want to be very cautious of your actions. Bank saving is good but the interest rate accrued is low but you will be sure of the exact amount you are to cash out upon the expiry date but for Bitcoin, you can't know until then.
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J1mb0
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April 14, 2021, 01:13:10 PM |
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There should be no comparison between banks and bitcoin, each with its own advantages and disadvantages. Investing in bitcoin can bring a lot of profits but also has a lot of potential risks, while savings in banks are close to zero risk, but the profit it brings is quite low.
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Ewox
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April 14, 2021, 02:40:41 PM |
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I couldn’t agree with you more although I wouldn’t want to compare the banks from and saving assets in Bitcoin because they are totally different. And that’s the reason why I chose to save some fiat money in the banks for emergency purposes because hospitals from where I live in doesn’t accept any form of cryptocurrencies yet. But I also have assets in cryptocurrencies, but not really assets but more of investments for long term too.
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kryptqnick
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April 14, 2021, 03:15:41 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
The deposit profits that banks offer are indeed very low. I think they're so low that they're insignificant. If you have little money, you'll just have marginally more, but it won't make a difference to your situation. If you have tons of money, you'll get another significant sum added to it, but it once again won't make a difference to you because you're already very rich. However, while giving money to a highly reputable bank is a very low-risk choice, with Bitcoin you can profit a lot if the price goes up, but you can also lose a lot if it goes down, so it's a high-risk investment.
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geegaw
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April 14, 2021, 03:16:50 PM |
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Bitcoin's profit is much higher than the bank. But it cannot guarantee 100%. Profits from banks are not high but it is safe and absolute. You should divide 2 parts of your assets 1 to invest in Bitcoin and 1 more you should send to the bank.
Did you look at the chart of bitcoin prices overtime? If banks were to replicate that, it will take thousands of years before they can do it. Yes banks insures that your money is safe but they benefit more on it more than you because they use your money for loans with exorbitant interests higher than the interest you can get at their bank. My only reason that I will put money to a bank is to have some sort of wallet for stock trading and index funds and other bank related transaction. Well, banks actually use our money to lend to big businesses, and besides, they probably secretly use that money to invest in some portfolios as well, our benefits are too low compared to the profits they receive but you should understand that they provide us with a level of absolute safety coverage each month, they are taking some risk to achieve such returns. Whereas if we want better returns, we also have to take the same risks in bitcoin, bitcoin can help increase wealth but it can also decrease assets, consideration of this issue will need to consider the interests between the two sides
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Innerpumper
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April 14, 2021, 03:21:10 PM |
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all of them have their own advantages and disadvantages. I agree, if saving bitcoin is better than saving in the bank. It's just that it has a bit of a big problem. That is, there is no person in charge when we lose the key to our wallet, in contrast to the bank that when we lose we will be able to be helped by the bank
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Reosta_
Member
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Activity: 994
Merit: 20
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April 14, 2021, 03:24:42 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
For now, you can continue to make a way better profit by keeping your money in Bitcoin rather than fiat. But there is no guarantee for you to maintain the same profit. You can even lose some amount of your capital when Bitcoin price falls. But using a decentralized money is safer than the centralized ones that's for sure.
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peterpanda
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April 14, 2021, 04:16:58 PM |
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Obviously it is true that saving bitcoin is far better than saving on bank. Banks don't provide high interest and it is not decentralized. I love bitcoin for it's decentralization system. Holding bitcoin is the easiest way to earn huge money with short possible of time.
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wiss19
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April 14, 2021, 04:47:39 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Wouldn’t be bad if you still continue with splitting it and keeping some of them bank while the rest goes to bitcoin. Bitcoin is good and the percentage of return can be high at times, but that shouldn’t be the reason why you would be investing or saving all your money in Bitcoin, because there are still times that the market can be really bad, although this year have been different and we haven’t experienced any of those really bad bear markets or corrections that pushes the market to plummeting to a very low price. So you have to be very careful of what you’re buying .
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acdc
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April 14, 2021, 05:59:42 PM |
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I think that bitcoin is not a place to save wealth, bitcoin is a place to invest and make a profit. People invest in bitcoin and hope to make a profit from it, people who deposit money in the bank because they want a safe investment.
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goldade
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The Standard Protocol - Solving Inflation
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April 14, 2021, 06:14:50 PM |
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While I believe that you're actually right, I think you're actually saying this because you invested in bitcoin for sometime, waited for the price of bitcoin to appreciate and now you can see your profits. However, you should know that this is not guaranteed. It is also possible to lose a lot of money if by some chance bitcoin goes on a bearish run. You might probably think this is impossible but we have actually seen it before. Back in 2018, there was a tragic decline in the price of bitcoin such that it got to a very low price. My point is, with banks, your profits are guaranteed although they may be small.
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Kamarah
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April 14, 2021, 08:46:56 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
From your share shows that sending money into the bank and sending money into Bitcoin, the output is completely different. The bank will have lower interests than Bitcoin. However, from the past, most people will send their savings to the bank to do so safely and have a profit compared to staying at home. Saving money in Bitcoin investment Less anyone thinks and they worry whether Bitcoin has collapsed. And the business mind will always find ways to make words from the money they have.
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oktana
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April 14, 2021, 10:30:48 PM |
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Truth is... In as much as your Bitcoin made profits, it could have lost its value as well. There's no assurance that you'll always be making money for Bitcoin. Even as I type, it could even go below the price you bought it at. That's volatility for you!
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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CarnagexD
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April 14, 2021, 11:14:02 PM |
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If you are into security, then the banks should be your go-to when it comes to saving your money. However, if you are an average joe that is more willing to gain an edge to profit rather than secure your money in the bank, then crypto is the best for you. It's all a case-to-case basis, and just because the banks are losing hard against crypto doesn't mean we have to rule them out of the equation. As much as rigged and vile the banking industry is, they are still needed in a world that is basically running in fiat.
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Ridwan Fauzi
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April 14, 2021, 11:26:12 PM |
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Actually it depend on the situation or depend on your intention for how long you store your money into bitcoin. I guess you will be angry when you decided to store your money in bitcoin when its price is decreased like three years ago exactly in 2018 when bitcoin price was decreasing to $3500 after its price just touched an all time high $20.000.
This situation is good for everyone who started to invest their money in bitcoin. Because we have got many adoption now, some big companies have decided to use bitcoin as their investment place even as a payment system like Tesla. This is pointed out that bitcoin is save and you have no worry to store your money in bitcoin at least for this time.
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Ziskinberg
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April 14, 2021, 11:27:43 PM |
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Truth is... In as much as your Bitcoin made profits, it could have lost its value as well. There's no assurance that you'll always be making money for Bitcoin. Even as I type, it could even go below the price you bought it at. That's volatility for you!
But if you can make a good profit of 10% from your capital for just a months, it is far different when storing at the banks that have a fixed percentage rate per annum. Maybe we could say that storing our money in the banks gives us security of not losing it but we never know that we are still losing in some other way and that is TIME. Coz if we wanted to grow our money, storing it in the banks isn't a good idea but rather to invest it in the market in which we can possibly double our money more than the banks could give us.
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Oasisman
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April 14, 2021, 11:38:55 PM |
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I think that bitcoin is not a place to save wealth, bitcoin is a place to invest and make a profit. People invest in bitcoin and hope to make a profit from it, people who deposit money in the bank because they want a safe investment.
And what was that supposed to mean? Putting you money in the bank in my own definition isn't investing. Instead you're saving money for such purpose. The banks will probably give you like 5% of your deposited amount annual profit. Truth is... In as much as your Bitcoin made profits, it could have lost its value as well. There's no assurance that you'll always be making money for Bitcoin. Even as I type, it could even go below the price you bought it at. That's volatility for you!
"It could have lost its value"? But it didn't. Infact, Bitcoin has been ridiculously increasing each and every year that pass. The OP ain't a trader so why would he be bothered about this short volatilities happening in a period of 24hrs? Lol. He is trying to save money for long term. He did even mentioned he time deposited his money in the bank. So, what better option you give? Because I personally think the OP is doing the right thing. Making half of his money deposited from the bank and the other half to invest and save to Bitcoin for a bigger profit than banks LONG TERM.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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oktana
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April 14, 2021, 11:45:10 PM |
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"It could have lost its value"? But it didn't. Infact, Bitcoin has been ridiculously increasing each and every year that pass. The OP ain't a trader so he will not be bother about this short volatilities happening in a period of 24hrs. He is trying to save money for long term. He did even mentioned he time deposited his money in the bank. So, what better option you give? Because I personally think the OP is doing the right thing. Making half of his money deposited from the bank and the other half to invest and save to Bitcoin for a bigger profit than banks.
Even if his money rose by 100%, that doesn't change the fact that crypto currency or I'd rather say 'Bitcoin' is volatile. Volatility is sure. The price going up or down is volatility. You may say that the chances of things going wrong have reduced, doesn't mean shit can't happen. I hope you understand my point of view.
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| ███████████████████▄████▄ █████████████████▄███████ ████████████████▄███████▀ ██████████▄▄███▄██████▀ ████████▄████▄█████▀▀ ██████▄██████████▀ ███▄▄████████████▄ ██▄███████████████ ░▄██████████████▀ ▄█████████████▀ █████████████ ███████████▀ ███████▀▀ | | | Mars, here we come! | ▄▄███████▄▄ ▄███████████████▄ ▄███████████████████▄ ▄█████████████████████▄ ▄███████████████████████▄ █████████████████████████ █████████████████████████ █████████████████████████ ▀███████████████████████▀ ▀█████████████████████▀ ▀███████████████████▀ ▀███████████████▀ ▀▀███████▀▀ | ElonCoin.org | │ | | .
| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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kawetsriyanto
Legendary
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Free Bitcoins Every Hour!
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April 14, 2021, 11:48:17 PM |
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Every investment or saving will always involve profits and also risks. In Bank, yeah we only can get a small profit from savings. But it is secure. In Bitcoin, it will involve more risks, but as we know if we get it at the right time for buying and selling, we can really get very high profits. Well, as people say, higher risks, higher profits. So, it depends on you how you will be brave and also responsible for taking the risks. And for me personally, I also prefer to save my asset in Bitcoin and then cash it out when getting the target, need cash, and others.
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Ucy
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April 15, 2021, 11:20:34 AM |
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If you imagine all people in the world abandoning their saving accounts for Bitcoin, it would create an enormous bubble, and the early buyers would profit from it greatly, while the late buyers would lose everything, as Bitcoin would correct by 95% or more. This is just a thought experiment, because nothing like this is going to happen, but still.
I believe that can be prevented if the price is regulated to moderate the volatility without killing its deflationary feature. And the number of people rushing in to invest wouldn't matter much. You could have a decentralized mechanism that regulate the price by incentivizing people to have their coins automatically locked in their wallets(preferably full-node) when price is down...when price start going up , their coins are automatically/gradually unlocked and sold to buyers at a predetermined price level that is not too high. The volatility needs to be moderate and sustainable
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kotajikikox
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April 15, 2021, 11:33:43 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
This has been the traits for How many years if you are here in crypto since then . banks offers your single digit profit , While Crypto has proven of gaining investors more than multiple times from their invested. I would rather Hold bitcoin for couple of years than Holding my funds in banks. But of course i also have some small funds in my banking account for some personal use . Obviously it is true that saving bitcoin is far better than saving on bank. Banks don't provide high interest and it is not decentralized. I love bitcoin for it's decentralization system. Holding bitcoin is the easiest way to earn huge money with short possible of time.
But at least banks has more security than in crypto specially if you are not investing in Bitcoin.
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davis196
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April 15, 2021, 11:37:43 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
In which country do you live? In my country,making a bank deposit means losing money in the long term,due to maintenance fees and super low interest rates for deposits. My bank was offering me 0,15% for a long term fixed deposit.That's one fifteenth of 1%. Investing my money in a bank deposit is a joke.I just keep some money in my checking account to pay my bills online and to cash out some paper money by using ATMs. Bitcoin offers more risk,more freedom and bigger profits and cannot be compared to a bank deposit.
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Question123
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April 15, 2021, 11:44:58 AM |
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You must know the differences between the two because in bitcoin your money will grow very high but the risk is very high but the good to this you can earn a lot of money that you will never experienced in the banks who gives a little percentage of your money that you deposited to them but it will keep your money safe. I suggest to invest a money if a person have it because of the inflation let say you save more money to the bank but after years goes by the value of it is decreasing but if you put on the bitcoin it will grow.
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online73
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April 15, 2021, 11:50:19 AM |
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Hello everybody. I believe that you are making the right choice by transferring all investment funds to Bitcoin. For a couple of years now, I have only kept my investments in a cryptocurrency "portfolio". Of course, here you need to adhere to certain rules, and strictly follow the initially chosen tactics, and if you hold the cryptocurrency for a long time, and not look every hour into the "portfolio" in the hope of getting super profit, then the profit is many times greater than in banks.
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AniviaBtc
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April 15, 2021, 12:09:36 PM |
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I think it's about burdensome interest rates, because for me both are still equally important. As for the advantages, bitcoin provides a higher profit because you are not subject to any interest, while the money stored in a bank account every month will get a discounted interest.
Bitcoin is the new gold in our generation, people are investing and keeping their cryptocurrency instead of saving it in banks. Some of us are still benefiting the use of banks but most of us are now relying on bitcoin to secure our assets. It is really much more profitable because the profit here depends on how skilled and determined you are in working with it in the market.
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Pandji02
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April 15, 2021, 12:23:56 PM |
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That's better but has it's own risks. I keep 50% in BTC, 20% in altcoins and 30% in bank. Someday i'll move on from BTC cause it'll fall sooner or later.
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LogitechMouse
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April 15, 2021, 12:31:16 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
The only pros that I can see with regards to banks when it comes to interest is that they are giving a guaranteed amount of percentage but it is very low (some of the worst banks are giving lesser than 1% annual interest). If you will see, saving your money in banks will not give you interest but it will be for sure is safe there aside from the fact that your money there doesn't have the same value a few years from now because of inflation. In Bitcoin, yes the risk is there because of the volatility of it but that is where people are becoming millionaires and even billionaires. People are becoming rich because of the volatility of it. The cons of investing in Bitcoin is the fact that your capital today might not have the same value tomorrow because of price movements. I knew this already that putting my money in banks will not give interest for me. I only put my emergency funds in my bank and all of my capital in investing are either in Bitcoin and other cryptos, stock market and other investments.
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Oasisman
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April 15, 2021, 12:31:34 PM |
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"It could have lost its value"? But it didn't. Infact, Bitcoin has been ridiculously increasing each and every year that pass. The OP ain't a trader so he will not be bother about this short volatilities happening in a period of 24hrs. He is trying to save money for long term. He did even mentioned he time deposited his money in the bank. So, what better option you give? Because I personally think the OP is doing the right thing. Making half of his money deposited from the bank and the other half to invest and save to Bitcoin for a bigger profit than banks.
Even if his money rose by 100%, that doesn't change the fact that crypto currency or I'd rather say 'Bitcoin' is volatile. Volatility is sure. The price going up or down is volatility. You may say that the chances of things going wrong have reduced, doesn't mean shit can't happen. I hope you understand my point of view. So, your point of view is telling you that you're not going to buy and save or invest in Bitcoin because shit can happen? Even if you know you can have like 100% ROI in the next couple of years? Nobody's arguing about Bitcoin's volatility here, because we all obviously knows Bitcoin is a very volatile asset. We're talking about long term profit as the OP was justifying which option to takes. Bank or Bitcoin. Shit will happens If you sell during bearish season. That's why I said, why would he bothered with price fluctuations? Is he going to sell when the Btc price goes below his buying range? Of course not, he'll wait until Bitcoin recovers to the range he's comfortable selling with.
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xiboothrezi
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April 15, 2021, 04:50:18 PM |
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I just got to find out the importance of saving asset in bitcoin. ~
I don't think it's wise to compare the advantages of storing assets in a bank and in bitcoin. because they are so different. Bitcoin has high volatility, while the fiat that you deposit in a bank is stable, you get profit from high price changes in bitcoin, while in the bank it is from interest or deposits. from this it is clear that the difference is quite a lot. Let's just say you were lucky to save your BTC at the right time, because then the market was bullish, what if the other way around? prices continue to fall? Did you then conclude that bitcoin is bad? Understanding the investment risk is important, I'm glad you can make a profit, but please understand that bitcoin is full of surprises, the price can be pumped up or dumped deeper, so be prepared to anticipate it well
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carlisle1
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April 15, 2021, 04:56:16 PM |
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You must know the differences between the two because in bitcoin your money will grow very high but the risk is very high but the good to this you can earn a lot of money that you will never experienced in the banks who gives a little percentage of your money that you deposited to them but it will keep your money safe. I suggest to invest a money if a person have it because of the inflation let say you save more money to the bank but after years goes by the value of it is decreasing but if you put on the bitcoin it will grow.
The very example is the experienced of OP itself, after comparing what happened to his investment he did realized the the big difference. If you are willing to take the big risk same thing will surely happened to you too. This investment is for those who have good patience and those who are willing to take the extra mile just in case sideways take place. Not easy but it's all about your trust and your good decision making.
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Dannaey
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April 15, 2021, 05:00:53 PM |
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Saving your money in the bank is not a wise choice. Though banks do offer an interest when you save your money there, it is too low that you won’t feel that your money is growing. Much better to invest the money that will give you a high return. But high return comes with high risk. So be careful. It is really good to invest in Bitcoin because you know how much will it grow over time. It just needs patience in holding it for the long term.
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wxxyrqa
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April 15, 2021, 05:32:34 PM |
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Saving your money in the bank is not a wise choice. Though banks do offer an interest when you save your money there, it is too low that you won’t feel that your money is growing. Much better to invest the money that will give you a high return. But high return comes with high risk. So be careful. It is really good to invest in Bitcoin because you know how much will it grow over time. It just needs patience in holding it for the long term.
in order to make decisions whether to keep money in a bank or in a cryptocurrency, at least you need to understand the cryptocurrency and constantly monitor the market and information space, because the volatility of the cryptocurrency is too high and you can lose your savings very quickly. But if we are talking about transferring your savings to Bitcoin, then given the market trend, I would gladly do this, since the bull run will continue for a very long time and savings may increase in volume. But nevertheless, at this stage in the development of the demand and popularity of Bitcoin, it still cannot be called a reliable storage due to its high volatility.
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acdc
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April 15, 2021, 05:40:24 PM |
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I think that bitcoin is not a place to save wealth, bitcoin is a place to invest and make a profit. People invest in bitcoin and hope to make a profit from it, people who deposit money in the bank because they want a safe investment.
Well, there are a lot of people who deposit money in the bank to receive that profit, and they are satisfied with the profits. In fact it is also a profitable investment, because its returns are so small that its risk is almost zero.
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Leonardo7
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April 15, 2021, 09:40:44 PM |
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As my country's currency is dying because of heavy corruption in the government circles, 99% of my assets are now in crypto diversified. The more I own fiat in the bank, the less purchasing power I have. People will in the future come to realize they were told a lie by bankers and it would be very late.
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adzino
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April 15, 2021, 10:05:50 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
It is better in a sense that you are holding it for a long term. Banks will give you a guaranteed profit every month. Bitcoin won't do that. There might be months where you might have not made any profit holding bitcoin. Again, you might even see that your profit has dropped and you are in loss (though remember, you don't make any loss as long as you don't sell anything). But banks will give you a certain percentage of profit every month. But when taking inflation into account, the bank investment returns that you will receive may not be good in the long run. This is where investment in bitcoins excels. In the long run, if anything "bad" doesn't happen, you are guaranteed to make some hefty profits.
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Willitivity
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April 15, 2021, 10:59:41 PM |
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As my country's currency is dying because of heavy corruption in the government circles, 99% of my assets are now in crypto diversified. The more I own fiat in the bank, the less purchasing power I have. People will in the future come to realize they were told a lie by bankers and it would be very late.
You are lucky to have discovered this early and made the best move to keep majority of your portfolio holdings in crypto. I don't know if we're talking of the same country but mine also took crazy steps to pump in more money out of thin air into the circulation thereby creating more inflation. I'm thankful because I was already a crypto enthusiast so I would be very prepared for what comes next. Nothing beats being the only one to make crucial decisions about my finances. Bitcoin takes finances to a whole new level for me.
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AakZaki
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April 16, 2021, 03:03:33 PM |
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Obviously it is true that saving bitcoin is far better than saving on bank. Banks don't provide high interest and it is not decentralized. I love bitcoin for it's decentralization system. Holding bitcoin is the easiest way to earn huge money with short possible of time.
But you also have to consider some of the risks that will occur when you save your money in bitcoin. Bitcoin and banks have many significant differences. The bank guarantees more of their customers' assets so that it is still impossible to lose assets in the bank and it will be safer to store fiat, but no profit will be developed. in bitcoin it can generate more profit than banks, but look at the risks ahead, bitcoin fluctuates and no one will guarantee when your bitcoin assets are lost. So having assets in bitcoin and banks are both important and profitable.
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Poker Player
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April 16, 2021, 04:13:21 PM |
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While I generally agree with the OP, it seems to me that he believes what he says in a very simplistic way, just because of the return it has given him in less than a year. The same could have happened to him with a shitcoin or a startup that then goes bust.
I think it is better to save in Bitcoin but because of its limited and decentralized nature, and because after what we are seeing this cycle, there is no stopping it. The return is a consequence of this, and of massive fiat printing.
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wack slacker
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April 16, 2021, 04:33:22 PM |
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Bitcoin is a currency and also a speculative asset. There is no guarantee of any return you will receive from Bitcoin, it all depends on the needs of the market.
Banks are different, dollars are printed by the bank and they guarantee you the agreed profit. That is nice and stable.
Bitcoin is a double-edged sword if you keep it. You can lose money or make a profit. You are solely responsible for all your actions when you keep Bitcoin in your wallet.
According to bitcoin's deflator chart and market demand, Bitcoin is always in an upward direction. So keeping Bitcoin for many years is a good choice. It can be said that it is more profitable than depositing money in the bank. (This is speculation, not investment advice)
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Cling18
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April 16, 2021, 05:46:30 PM |
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As for me, they're both important, and dividing your funds to invest half with Bitcoin and put the other half in a bank is still a good decision but keep in mind that Bitcoin is volatile and that's the difference of it from the interest in the fiat that you're holding in banks. Having long-term assets would give us a chance to have a sustainable life in the future.
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capcaypro
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April 16, 2021, 06:02:04 PM |
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apart from safely storing our assets bitcoin is also better in interest difference because in the bank when we store assets we are definitely subject to pre -determined interest from the bank as well as the profit of bitcoin is much greater than we keep assets in the bank but this depends on the asset owner . if the owner of the asset is smart and understands the concept of trading, his profit will be great, but if he only follows what is there without being based on his knowledge, then it will lose a lot as well. in this case the bank is more consistent because the bank has its own calculations in assets when the gains and losses of the asset owner will be less in the minimized
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Leviathan.007
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April 16, 2021, 06:32:53 PM |
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During the last years bitcoin was a very trustworthy investment and true save haven against the inflection rate. Unlike the fiat assets you usually save in your back account you can 'full control' on your bitcoin investment and you do truly own have the asset in your hands while if you have any problem with the government they can easily close your back account or take all of your investments in back and make you poor in one single day.
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willoweb
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April 16, 2021, 07:26:22 PM |
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I fully agree with this statement. All of this in the future that we will see in the next few years will revolutionize the banking sector. I am sure that banks will reform and adapt to the global economy of the future associated with cryptocurrency. If they don't, they will lose a lot of customers and their products will become unattractive. The conservative approach to storing money is changing in favor of bitcoin and other alternative cryptocurrencies, it is obvious that this trend will continue in the future.
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MCDev
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April 17, 2021, 01:17:09 AM |
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Banks are where we keep money with very small profits, while the crypto market is where people speculate and make a profit. Maybe at the present time investing in bitcoin is very profitable for everyone, but returns are always risky so everyone should be careful with their investments.
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Shasha80
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April 17, 2021, 02:08:41 AM |
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Since the beginning of this year I have been slowly moving the money I have in the bank to buy Bitcoin. Because it is more profitable to store Bitcoin than to keep money in banks. I have been depositing money in the bank for more than 10 years, and the profit is still greater my investment in Bitcoin from the beginning of this year until now. From this experience I strongly agree that saving assets in Bitcoin is much better than saving money in banks.
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kolbalish
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April 17, 2021, 05:30:00 PM |
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I don't imagine so. Because the risk reaps bigger than it is not preferable at all. A fixed profit will come from the bank and will be stable. But this will not transpire in Bitcoin. Bitcoin can bring about a lot of profit if coincidence is good !!! And if the luck is awful, it's all over. Now, what if all the assets are gone in the possibility of making more profit ?? Yes, it is needed to put up with risks occasionally in life. So, I feel savings in a bank is better.
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skarais
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April 17, 2021, 06:19:30 PM |
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But you also have to consider some of the risks that will occur when you save your money in bitcoin. Bitcoin and banks have many significant differences.
The bank guarantees more of their customers' assets so that it is still impossible to lose assets in the bank and it will be safer to store fiat, but no profit will be developed.
in bitcoin it can generate more profit than banks, but look at the risks ahead, bitcoin fluctuates and no one will guarantee when your bitcoin assets are lost.
So having assets in bitcoin and banks are both important and profitable.
Because we are constantly afraid of the risk of investing in bitcoin, some people have missed the opportunity to earn x10, x20, x30 profit over the years. We don't have to put all our eggs in bitcoin if the risk of price fluctuation is what we are afraid of, 10% of our monthly income since 2018 seem to have made a big profit on bitcoin when compared to storing it in gold or a bank.
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vaultman
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April 17, 2021, 07:20:48 PM |
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It is worth noting that not only is it worth keeping your funds in bitcoins, but there are also many other ways in the cryptocurrency world to invest your funds and get a much higher annual percentage rate on a deposit than in a bank. As for the bank, I also do not understand the point of investing money in the bank, since the interest is low, and inflation is almost the same, if not more than the interest on the deposit itself.
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doctor877
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April 17, 2021, 08:15:43 PM |
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its way much more better especially for someone that knows how the game works. but for newbie, i dont think they would understand because at some point it might be a loss for them when price goes lower and their patience couldnt wait. a good orientation is needed so that the purpose wont be defeated because in bank your money is safe, secured and return is sure even though its small, but return is bitcoin is way bigger but not sure. thisnunderstanding has to be establised.
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virtualdn
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April 17, 2021, 08:22:12 PM |
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But of course, any FIAT money is doomed to monetary inflation. Need to buy a house? Cash out BTC and buy it. Need to buy a car? Cash out BTC and buy it. But never cash out all your BTC to keep them in your bank account, that's the most stupid thing you can do
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1 BTC = 1 BTC
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dunfida
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April 17, 2021, 08:38:23 PM |
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its way much more better especially for someone that knows how the game works. but for newbie, i dont think they would understand because at some point it might be a loss for them when price goes lower and their patience couldnt wait. a good orientation is needed so that the purpose wont be defeated because in bank your money is safe, secured and return is sure even though its small, but return is bitcoin is way bigger but not sure. thisnunderstanding has to be establised.
When you already have the experience and awareness on how this market works then making this move isnt really a bad idea but the risk is always there and be prepared for that but if you are really confident on putting up your assets converted to bitcoin then its his choice because its his money but honestly this move is really a risky one on you dont know on what would comes next but if the situation would really be favorable on your side then that would really be a worthy shot but of course you should anticipate about total wreckage.
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virtualdn
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April 17, 2021, 08:48:30 PM |
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Bitcoin's profit is much higher than the bank. But it cannot guarantee 100%. Profits from banks are not high but it is safe and absolute. You should divide 2 parts of your assets 1 to invest in Bitcoin and 1 more you should send to the bank.
Holding FIAT in banks is not 100% safe. It is covered by the central bank only to a certain amount so I wouldn't call that safe, I wouldn't hold a huge quantity in the bank that's for sure.
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1 BTC = 1 BTC
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oktana
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April 21, 2021, 11:22:25 PM |
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"It could have lost its value"? But it didn't. Infact, Bitcoin has been ridiculously increasing each and every year that pass. The OP ain't a trader so he will not be bother about this short volatilities happening in a period of 24hrs. He is trying to save money for long term. He did even mentioned he time deposited his money in the bank. So, what better option you give? Because I personally think the OP is doing the right thing. Making half of his money deposited from the bank and the other half to invest and save to Bitcoin for a bigger profit than banks.
Even if his money rose by 100%, that doesn't change the fact that crypto currency or I'd rather say 'Bitcoin' is volatile. Volatility is sure. The price going up or down is volatility. You may say that the chances of things going wrong have reduced, doesn't mean shit can't happen. I hope you understand my point of view. So, your point of view is telling you that you're not going to buy and save or invest in Bitcoin because shit can happen? Even if you know you can have like 100% ROI in the next couple of years? Nobody's arguing about Bitcoin's volatility here, because we all obviously knows Bitcoin is a very volatile asset. We're talking about long term profit as the OP was justifying which option to takes. Bank or Bitcoin. Shit will happens If you sell during bearish season. That's why I said, why would he bothered with price fluctuations? Is he going to sell when the Btc price goes below his buying range? Of course not, he'll wait until Bitcoin recovers to the range he's comfortable selling with. Don't get me misunderstood please. We all know that everything created by man has the ability of going wrong. I am an advocate of Bitcoin, but that doesn't change the fact that Bitcoin's price could dip. Cryptocurrency is volatile and nothing can change that. Even our stablecoins have this slight "change" so... Imagine Bitcoin that is traded every second everyday.
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mmhaimhai
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A BLOCKCHAIN SOLUTION TO DISRUPT TRADE FINANCE
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April 22, 2021, 01:42:55 AM |
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Bitcoin price today is way high compare to last year. But if these scenario of yours happen way back 2016 or 2017 when btc price reach 20k then goes back to 8k in few months then the result will be different.
In bank your money will have too little profit but you are assured that profit continues as long as the money is in them. Bitcoin and other crypto in other hands can give you a huge profit in few months or even few days but you can also lose your money in them. Investing in crypto is also like trading your fiat money and hope it increase value in the future.
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Kong Hey Pakboy
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April 22, 2021, 01:56:10 AM |
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But that doesn't mean that you will have to put all of your money in bitcoin, remember that you should only invest what you can afford to lose and if you are risk junkie then probably going for a 50% increase is enough but remember to not put all of your eggs in one basket, bitcoin may return big money than banks but it doesn't happen overnight.
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online73
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Ecowatt.io
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May 05, 2021, 08:27:43 AM |
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Hello everybody. A very correct phrase has already been written here - banks are not a place where you can make money, but only a place for storage. Bitcoin, on the other hand, is not only a good storage place but also an ideal investment component. The difference in storage is that when you save money in the bank, the safety rests entirely with the bank, as for Bitcoin, here the entire responsibility for keeping money in lies solely with you.
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bakasabo
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May 05, 2021, 09:03:04 AM |
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Hello everybody. A very correct phrase has already been written here - banks are not a place where you can make money, but only a place for storage. Bitcoin, on the other hand, is not only a good storage place but also an ideal investment component. The difference in storage is that when you save money in the bank, the safety rests entirely with the bank, as for Bitcoin, here the entire responsibility for keeping money in lies solely with you.
What can you say about this "ideal investment component" during 2018-2019 period, when its price dropped from $20k to $4k? What it a good investment? What was Bitcoins ROI these years? While in banks, if you deposit money, you get your "base amount + few % annual" with a 100% probability. Bitcoin and banks investments in my opinion are two things that can not be compared. One asset is very volatile and is good only when its price grows up, while other is a kind of stability, but gives miserable profit.
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sarmrakib
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Vave.com
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May 05, 2021, 09:11:28 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
You have to more careful and noticed that the crypto market is high volatile. You can get here huge profit on the hand your wallet may be sick when the market becomes huge down. So it is bank is the more secured to put your money as APR more than crypto but if you want get quick return you can invest on btc.
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dificanovi
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May 05, 2021, 04:34:07 PM |
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saving on bitcoin is more profitable than saving in a bank. I see the price of bitcoin from month to month and from year to year, I conclude that saving on bitcon will make us rich because the price of bitcoin tends to increase from year to year. if saving in a bank I don't feel any more benefit than storing assets in bitcoin, in my opinion the bank is only a place to store money, not to make us rich like bitcoin.
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izsara
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May 05, 2021, 06:07:00 PM |
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I think it all depends on the individual. If, for example, people who don't want to be complicated and don't want to take risks, the option to save money in a bank is certainly the best option, but if that person is willing to invest with the risk of losing money, we can save it in bitcoin. because in crypto, especially in bitcoin, we are not 100% profitable because it is very difficult to predict what will happen. depending on the perspective of the person who sees the advantages and disadvantages because other people's choices are not necessarily the same as the choices we make
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Golftech
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May 05, 2021, 06:30:31 PM |
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saving on bitcoin is more profitable than saving in a bank. I see the price of bitcoin from month to month and from year to year, I conclude that saving on bitcon will make us rich because the price of bitcoin tends to increase from year to year. if saving in a bank I don't feel any more benefit than storing assets in bitcoin, in my opinion the bank is only a place to store money, not to make us rich like bitcoin.
Considering the timing, if you do invest with Bitcoin last year you'll see the huge profits that you'll going to take now, compared with banks time deposit where you can only get smaller than 10% of your initial investment. though risk is the factor why institutional investors mostly choose to put their savings inside bank than exploring with crypto market.
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conected
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May 05, 2021, 06:41:40 PM |
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saving on bitcoin is more profitable than saving in a bank. I see the price of bitcoin from month to month and from year to year, I conclude that saving on bitcon will make us rich because the price of bitcoin tends to increase from year to year. if saving in a bank I don't feel any more benefit than storing assets in bitcoin, in my opinion the bank is only a place to store money, not to make us rich like bitcoin.
- Perhaps you should take the time to look further years ago, looking at how the highest milestone then collapsed, the price of bitcoin doesn't rise forever, depending on the demand each year it will grow, some years are sad and bitcoin dominates the market with too many tears and money, this year may be seen as the most stable year but the future is not sure. Bank savings allows for more stable assets, it's too difficult to get rich by saving with bitcoin, you can only invest according to the market to be as optimal as possible but the investment will not be as safe as savings
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Gamerholic
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May 05, 2021, 06:53:18 PM |
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I totally agree with that. There are many stories about how people lost all their savings due to bank failures or economic crises that devalue their money. Those who contacted bitcoin (especially at the very beginning) not only did not regret it, but also got rich as its price and demand grew. I am sure that when large masses of people realize that cryptocurrency is the future of finance, they will stop trusting their money to banks, or at least transfer part of their capital to cryptocurrency.
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pixie85
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May 05, 2021, 07:32:00 PM |
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But of course, any FIAT money is doomed to monetary inflation. Need to buy a house? Cash out BTC and buy it. Need to buy a car? Cash out BTC and buy it. But never cash out all your BTC to keep them in your bank account, that's the most stupid thing you can do I'll make it simple for you. Never cash out to keep cash It's a joke of course. Cash is still better than electronic fiat money in your bank account. IMO physical goods> Bitcoin> Cash> Money in the bank. Physical goods first because all forms of currency ultimately lead to buying what you want.
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Kamarah
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May 05, 2021, 10:00:36 PM |
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The difference is that banks almost guarantees the profits that they are promising, while with Bitcoin no one guarantees anything, you can earn a lot or lose a lot. Also banks serve another vital function - they lend money to people. Because of this, banks will always exist.
If you imagine all people in the world abandoning their saving accounts for Bitcoin, it would create an enormous bubble, and the early buyers would profit from it greatly, while the late buyers would lose everything, as Bitcoin would correct by 95% or more. This is just a thought experiment, because nothing like this is going to happen, but still.
Depositing money in the bank is a traditional writing that people often do for a long time. It is also a way to keep your money fed and you still receive a certain interest rate and often depends on the amount and time of your deposit. This is quite a safe job. But since I got to know Bitcoin I have used money to invest in Bitcoin. This is how to save money because of high profits. I know the risks of buying Bitcoin, but I accept it. That's how I got rich
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jerrison
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May 05, 2021, 11:41:43 PM |
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banks have never given much more than bitcoin will give in a year. Banks give maximum of about 4 tp 6 percent per anum whie bitcoin can give 100 percent is a year or less than, depending on the outcome of the space and it s demand and scarcity structure. save in bitcoin rather than save in banks. I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
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just_Alice
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May 05, 2021, 11:58:40 PM |
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Hello everybody. A very correct phrase has already been written here - banks are not a place where you can make money, but only a place for storage. Bitcoin, on the other hand, is not only a good storage place but also an ideal investment component. The difference in storage is that when you save money in the bank, the safety rests entirely with the bank, as for Bitcoin, here the entire responsibility for keeping money in lies solely with you.
Some money can be made by placing savings in a CD type of account, which allows you to earn simply by not withdrawing your money for a long period of time. Somewhat like crypto investments, only the % of the income can be significantly lower. Sadly, many elder people use this function, believing that their money will be 100% safe and they'll get the promised reward years after, at the end of the term. The banks state that their main privilege is guaranteed safety. I personally find these deposits untrustworthy, because you basically allow someone to use your assets (they aren't paying you for nothing), which means that safety is already violated. They can simply be giving someone a loan with your money and when there are too many loans and people fail to pay off in time (happens a lot)- there's a high risk of the bank going bankrupt and all the money can be lost. So cryptocurrencies are way better in this respect also, IMO, not only as an investment opportunity.
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verita1
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May 06, 2021, 12:01:50 AM |
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The experience that OP is living is totally frecuent. There are many people who are realizing that it is better to invest in cryptocurrencies than to invest in banks and they have migrated their money to investing in bitcoin and altcoins. The future of Banks is uncertain every time they lose their savers, we still do not know what will be the effect they will receive as cryptocurrencies are the ones that users prefer.
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vitorschefer
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May 06, 2021, 12:12:55 AM |
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Mas devemos sempre ter mais de uma cripto (token)
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nikrobi
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May 06, 2021, 12:16:47 AM |
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Banks are loosing their capacity to raise funds cause they delayed alot of time to wake up to this New Financial World. They also insist to keep on mantaining the same papers at the same economic model justifying and selling solidity, safe and stability. Certainly they willl continous to have a place at sun, but probably the ones who stopped in time, surelly will be swallowed by the unavoidable, by the "unknown" and by the untamed cryptocurrences technology which joined abstract and concrete in an endless business! There will be no risk just while power is on!!!
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masphie
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-= OI =-
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May 06, 2021, 12:38:37 AM |
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If you look at your case, you choose bitcoin as a form of asset investment based only on the profits earned every month. My question is, do you still choose bitcoin as a place to store assets if the profit that bitcoin gives is the same as that given by the bank?
For me, I still choose the bank as the main asset depository.
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-= OI =-
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Newlifebtc
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May 06, 2021, 11:07:21 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Both are still important but of a truth bitcoin give more profit than the bank will ever give,reason be that if you can be able to buy bitcoin when Tue price is down and save up for it to rise,you will see an impressive profit you have made,but proper timing always matter around it
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Issa56
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May 06, 2021, 05:02:46 PM |
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From the little experience am having I believe buying bitcoin is better than saving your money in bad, if you invest In bank they use your money for business and other things like that and later give you just little percentage and you will still be happy but if you invest in bitcoin and hold bitcoin for some years you will definitely be rich because your profit will be very hug and massive compare to if you save your money in bank. I believe banks are really cheating us seriously by giving us just little percentage and taking the remaining percentage. As for me I will prefer buying bitcoin than saving my money in bank.
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ILuckyGuyI
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May 06, 2021, 05:29:15 PM |
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I don't advise you to invest all of your savings into Bitcoin. But it's true that you can make a much better profit compared to banks in time. HODLing is a very valuable and wise thing to do when it comes to Bitcoin. Besides, keeping your investment in a personal wallet is also a safer option than exchanges I think.
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Fredomago
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May 06, 2021, 05:54:43 PM |
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I don't advise you to invest all of your savings into Bitcoin. But it's true that you can make a much better profit compared to banks in time. HODLing is a very valuable and wise thing to do when it comes to Bitcoin. Besides, keeping your investment in a personal wallet is also a safer option than exchanges I think.
We can base things from the past, what happened way back are still possible in repeating itself, with wide adoptions to happened in the following years, expect that Bitcoin value will continue to rise high, early holders managed to earned a lot from this market, it's still open to everyone who are willing to take the risk and invest with their money. Spare the amount that you can forget for another 3-5 years, you'll see how many times it will multiply after.
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doomloop
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May 06, 2021, 06:03:10 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin
Luckily you planned up last October because if you have bought bitcoins by the times of January 2018 or December 2017 then you might have faced losses for some years but now the prices are higher than January 2018 or December 2017 still you made bitcoin investments at just perfect time. I like to suggest you to keep holding for at least next 5 years so that you may definitely enjoy 10x to 25x profits for your investments. Even investing all money into only one asset is not recommended, with bitcoin investments we can do that as it is having definite future hence we may risk with all our savings.
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Mila52
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May 06, 2021, 08:08:29 PM |
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If you look at your case, you choose bitcoin as a form of asset investment based only on the profits earned every month. My question is, do you still choose bitcoin as a place to store assets if the profit that bitcoin gives is the same as that given by the bank? For me, I still choose the bank as the main asset depository.
You are all talking about the high volatility of Bitcoin, but 10 years ago its price was worth $ 1. You believe in the stability of the banking system. But there was a time when banks went bankrupt. Also now there are unstable countries with falling economies, where inflation eats up all savings in national currency. For example, in Ukraine, the government closed more than 100 private banks and clients were lost their deposits. So what is the difference between the risks of investing to bank's deposit or investing in BTC?
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arapgeceleri
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May 06, 2021, 11:30:33 PM |
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When banks and bitcoin are compared, banks are far below this competition. bitcoin has left banks far behind in this regard. The small interest you put in the bank and receive at the end of the month cannot be compared to the thousands of dollars you would have earned in bitcoin over the same time period. And while the bank stipulates you not to use that money, you do not have such an obligation in bitcoin. A very good choice as an investment tool.
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sapnu
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May 07, 2021, 11:38:47 AM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
Both has different features why people are choosing to invest on such. For bitcoin, the volatility is much higher as well as the possibility that your money will continually grow in it. For banks, your money is growing but it is too stable that's why the progress of your money growing is much slower compared to bitcoin. Investing in bitcoin comes a great risk since there is a chance of dumping wherein the money you put inside it might go down together with bitcoin's value while in banks, there are less risk but less benefits also. You are free to choose wherever you feel comfortable just make sure you are responsible and wise with your decisions.
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concept2
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May 07, 2021, 11:42:41 AM |
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I always find holding bitcoin is better than savings in the banks. You have to understand that the interests provided by the banks are slightly equal to the inflation rate which means, you do not earn anything. Some countries even offer a negative interest. For example: - Switzerland: -0.3% - Japan: -0.1% You know what to choose by now
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jinxing
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May 07, 2021, 04:03:35 PM |
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I just got to find out the importance of saving asset in bitcoin. As of last year October I just decided to split my savings into two and used half of it to buy bitcoin then took half to bank and deposited as fixed deposit which means I won't be taking the money for a period of time and bank will in return be giving me little percentage which I will take as profit, recently I tried comparing the profit I get from both bank and bitcoin, I found out the profit I got from bank is way low compared to what I got from bitcoin, then I decided to stop keeping my assets in banks rather I keep it in bitcoin which later turns out to be an investment for me.
If you compare the benefits that will be obtained from banks and bitcoin, it is clear that investing in bitcoin can provide multiple benefits, but investing in a bank does not have a high risk, our money will not be lost or reduced even though it can be taken at will according to our needs.
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Kez1817
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May 07, 2021, 04:18:37 PM |
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For investing, of course bitcoin is better than savings in a bank because in bitcoin you have a chance to earn huge profit while in bank you can accumulate only small profit from small interest per annum. But, you still need a bank because putting all your funds in bitcoin is not a good idea because bitcoin is volatile. You can deposit your profit from bitcoin in a bank as your savings.
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ice098
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May 07, 2021, 05:46:55 PM |
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We can base things from the past, what happened way back are still possible in repeating itself, with wide adoptions to happened in the following years,
expect that Bitcoin value will continue to rise high, early holders managed to earned a lot from this market, it's still open to everyone who are willing to take the risk and invest with their money.
Spare the amount that you can forget for another 3-5 years, you'll see how many times it will multiply after.
Exactly our past experience here in cryptocurrency should also be taking noted, well in my own personal experience I had lost a chance to earn a good profit way back 2 years ago because of the sudden price drop of crypto tokens and much worst a half of my bitcoin was lost because I just forget to exchange it into fiat. Well maybe investing in bitcoin could give us a good return of investment in just a short period of time compare on investing it or putting in a bank but should take note that we shouldn't have to put all in one basket.
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famososMuertos
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LE ☮︎ Halving es la purga
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May 07, 2021, 07:53:48 PM |
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There is not a single question, because then in the Op you add that you are going to take the other half that you have in the bank and take it to bitcoin; so investment and security, two questions in one.
bitcoin is safe just take the precautions, inform yourself well and proceed to Hodl bitcoin.
As for taking all your money out of savings and passing it to bitcoin, just be informed, be clear how long you can Hodl bitcoin, to survive the periods in which bitcoin due to its volatility will also fall in price, always feasible that it even reaches historical at the low (ATL), the long term works well.
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Spack17
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May 07, 2021, 08:57:19 PM |
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Interest rates in banks are really low generally. Hence, we can't even compare it to an investment which is into Bitcoin. HODLing is the best thing I've ever known. Because you make lots of profit after being patient for a time which will be needed to achieve your goal.
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nhaila
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May 07, 2021, 09:07:33 PM |
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Cryptocurrencies always unstable and unconditional in nature but banking is the safest place where one can easily store his assets . But recently in halving market cryptocurrencies investment is very profitable than banking system.
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nhaila
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May 07, 2021, 09:09:10 PM |
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Interest rates in banks are really low generally. Hence, we can't even compare it to an investment which is into Bitcoin. HODLing is the best thing I've ever known. Because you make lots of profit after being patient for a time which will be needed to achieve your goal.
Yes mate you are absolutely right because interest rate of banking system is very important but in cryptocurrencies most of the projects allow APY instaking and gives profits more than banks . Os people are preferring to themselves in cryptocurrencies investment.
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veznata
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May 07, 2021, 09:21:37 PM |
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not a simple answer to this question. banks have negative interest as money are eaten by inflation. however they are legalized and you can invest or spend the way you want it. bitcoin on the other hand is the best by far investment we all know and it very likely to be this way for few more years (maybe 10 who knows) as value keeps rising. that's the positive side. the cons are existing also: 1) bitcoin can be lost at any moment if you are not careful 2) many countries are still not crypto friendly and there are obstacles when you decide to legalize or pay taxes for it 3) we don't have all the time in the world to watch how bitcoin rises its value while at the same time can not feel all the benefits of its value 4) it may loose its value or be banned after some years as it can not rise its value infinitely so I think its better to get the benefits of the two worlds - bitcoin and banks (symbolizing todays reality)
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dark1234
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May 07, 2021, 09:22:22 PM |
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do not deny investing our funds in $ BTC or others is an attractive thing and promises greater returns than the Bank 🏦 but giving it all for assets in digital I do not agree with this opinion; because we cannot predict future prices and needs so this will force you to sell your assets regardless of the price but ... !! having funds in this bank makes your funds safer and makes it easier for you to transact when something happens in the future you are not easy to sell digital assets, because there are still other assets (our money is in the bank)
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Rengga Jati
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May 07, 2021, 10:18:16 PM |
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High profits, high risks. In BTC, you may get high profits when saving your money BTC. Moreover when buying them in bearish or dip price and then saving or holding them to the future (at least until bullish). You will get very high profits. However, who will guarantee your money secure fully? No one. That is why high profits high risks. It is different with banks. They will commonly guarantee and also they are centralized, law under the government of the country. Except if the banks are bankrupt or have serious problems.
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Sihab76
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May 07, 2021, 10:24:16 PM |
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Though I am a supporter of cryptocurrencies but I interest in banking profits systems. Though banking interest lower than cryptocurrencies interest but lower risks. In cryptocurrencies interest profits high but you can think here risks far far more than banking system.
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gesdan
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May 07, 2021, 11:47:24 PM |
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as we know right now. saving bitcoin in last 2 years are very good than saving on the banks, but if you want to save it on bitcoin, you should check about how to save it, you should use a hardware wallet, because it will more save than you use a software wallet. An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life
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Lanatsa
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May 07, 2021, 11:49:35 PM |
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as we know right now. saving bitcoin in last 2 years are very good than saving on the banks, but if you want to save it on bitcoin, you should check about how to save it, you should use a hardware wallet, because it will more save than you use a software wallet. An advice, dont put all of your money in bitcoin, maybe someday you need emergency cash in real life Don't go all in or else you would be fucked up and its hard to deny that we do still need fiat savings on day to day basis since adoption isn't still accepted globally and also majority of us do sees bitcoin as an investment rather than a currency so its no surprise that people would be saving it up and accumulate while they can. Why would choose between two if you can both save up bitcoin and cash at the same time? Balance everything and you should be fine.
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Coin-1
Legendary
Offline
Activity: 2436
Merit: 2169
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May 08, 2021, 02:51:51 AM |
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I have bank accounts and cards, but to be honest, I trust blockchain technology more than banks. So years ago, I decided to keep a decent chunk of my savings in Bitcoin and other top-rated coins. After this bullrun, the funds I invested in cryptocurrencies have grown significantly, but I still hold my coins in cold wallets and on legit exchanges. Even now, I see the high potential of the global cryptocurrency market.
Banks can block or freeze money deposited by their customers, which is why I also find that Bitcoin is much safer and better than fiat.
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Obito
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May 08, 2021, 03:31:05 AM |
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Well yes, that's why bitcoin was invented in the first place, it was used to bank the unbanked. And it was it's purpose, to become an alternative to banks and other old financial instruments that only profits the ones that are on top of the food chain. It is evident that bitcoin is better than the bank because of the growth that it showed over the past decade.
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Alucard1
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May 08, 2021, 04:48:51 AM |
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The profit that you may have in the banks from investment is guaranteed but that is too high as what you think while the profit we can have from investing in bitcoin has no guaranteed but you can earn big income from it, especially if you have invested for a long term, that is much profitable way of investing in bitcoin. As a student and at a young age, I haven't tried investing in a bank yet, though I am already contented with the way I invested in cryptocurrency not only in bitcoin but also in some altcoins.
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Maslate
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May 08, 2021, 05:23:04 AM |
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If a banks can offer me 5-10% return per semester, I have to choose them but I'd never hear banks offers like that, they can just offer a small return which is really far of what Bitcoin can do for us. When it comes to practicality, no wonder why people will consider putting their money into crypto even though it is risky rather than putting it on the banks that only the owner who are benefiting a lot.
In this case, we can't simply hide the possibility that people will never use their service but instead they'll go into online.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | │ | 1,000x LEVERAGE | │ | COMPETITIVE FEES | │ | INSTANT EXECUTION | │ | . TRADE NOW |
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Miaallen
Member
Offline
Activity: 573
Merit: 30
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May 08, 2021, 05:25:14 AM |
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You said it absolutely the way it is. Banks in most of my continents use your money for business and still claim to be charging for services rendered to you keeping your money while Bitcoin will surely rise to give you great increase in the amount invested by investing at the right time of the market. And you even gain more if you can study the market trend and manipulate your way through the market loopholes to gain more.
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