Saving asset in bitcoin is much more better than saving in banks

[Kamarah]

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]

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!

[CarnagexD]

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.

[Ridwan Fauzi]

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.

[Ziskinberg]

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.

[Oasisman]

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.

[oktana]

"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.

[kawetsriyanto]

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.

[Ucy]

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

[kotajikikox]

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.

[davis196]

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.

[Question123]

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.

[online73]

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.

[AniviaBtc]

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.

[Pandji02]

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.

[LogitechMouse]

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.

[Oasisman]

"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.

[xiboothrezi]

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

[carlisle1]

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.

[Dannaey]

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.