Use your money wisely. Invest or Deposit ?

[zaki12]

The most common mistake many new investors make is rushing into cryptocurrencies without any guidance. I think this is the first thing that is very important for you to understand. If you understand this, your purpose for investing in bitcoin is correct because you have enough for your daily needs.

If you want to be successful, have a rich mindset, spend less, and invest more depositing money in the Bank is not the right choice. Don't give up on your dreams.

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[Marcellin9]

Good god there's so much bad information in this thread.  I sound like a broken record because I've had this same conversation a millions times on this forum, but there's a lot of things to take in to account. How old is the person, how much income do they currently have each year, are they on track for their retirement goals or are they already retired? etc etc etc. 

Once you know all this, then you can formulate a plan.  Putting most of it in the bank at a 3% interest rate which is not even remotely coming close to the rate of inflation (your break even level) would be a stupid idea. 

Putting it all in bitcoin would likely be a stupid idea.  Putting it all in anything would be a stupid idea. Diversify.

You know what,  saying stupid things in other's thread is truly a stupid idea.

[Xampeuu]

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

if I had that much money, of course I would not place either bitcoin or a deposit. but maybe I will use both of them plus other investments such as property and stocks, on the other hand I will open a business to meet daily needs, so besides being safe because there are many fields that we invest in, we also have no difficulty meeting our daily needs. let's say we make rent, then every month we will make money, while property assets will develop, and bitcoin assets also develop with unpredictable timing. and deposits will also provide a sense of security, with small but definite benefits

[Ludmilla_rose1995]

I don't like keeping money in the bank because it makes no sense at all, you will only earn a very small amount of interest per year and that's a very big turn off, I will rather invest 90% of the money into stock and crypto, most important Bitcoin, 100,000$ available for long term investment is a life-changing opportunity, with this certain amount of money you can easily become a multimillionaire if you invest in the right projects.

just like me, I don't really like saving money in the bank because there is no increase in my money, I prefer to convert it into a form of investment such as bitcoin or gold, instead of just leaving it in the bank, the bank will definitely use the money.

[Fivestar4everMVP]

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

This one is easy, for me, buying bitcoin is the best option, trust me, I've saved money in the bank before, and I can for sure tell you that 3% interest rate that will be paid to you annually is nothing compared to the profit you will make from bitcoin is you invest that money in bitcoin..
If you know how to trade, you can take advantage of Bitcoin's high volatility in price and make good money for yourself, and since you will be trading with over 5 bitcoins, you have a good advantage over those that trade with smaller amounts, it is highly possible that in one year of trading with 5 bitcoin, you will make nothing less than 3 to 4 bitcoins or even more as profit before the year ends.
Buying bitcoin is the best option.

[yudi09]

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

Of course, you will use the money to invest in Bitcoin without thinking about anything else. I will use 100% of the money to buy Bitcoin. I will not assume that I will get a profit per year from the total profit from bank interest because the potential for greater profits will be in the future on Bitcoin if the purchase price is like the current price which is below $30K with the hope that the Bitcoin price can be like the past ATH price which is below $100K.

[xSkylarx]

I don't like keeping money in the bank because it makes no sense at all, you will only earn a very small amount of interest per year and that's a very big turn off, I will rather invest 90% of the money into stock and crypto, most important Bitcoin, 100,000$ available for long term investment is a life-changing opportunity, with this certain amount of money you can easily become a multimillionaire if you invest in the right projects.

just like me, I don't really like saving money in the bank because there is no increase in my money, I prefer to convert it into a form of investment such as bitcoin or gold, instead of just leaving it in the bank, the bank will definitely use the money.

Do you know the risk? Both of you are just thinking about profit; you should always consider the risk since it is your money. Bitcoin is better than banks as you can earn a huge profit (if you hold it for a long period of time), but you should know the risk that you can lose it all. Others are using it as a retirement investment but panicked when the price dropped and sold off. But if you are a risk taker, then you have a higher chance that you'll gain a huge profit, but keep in mind that there is also a chance that you will lose your money.

[zaki12]

just like me, I don't really like saving money in the bank because there is no increase in my money, I prefer to convert it into a form of investment such as bitcoin or gold, instead of just leaving it in the bank, the bank will definitely use the money.

Yes, it's true that deposits are not a type of investment with a large or promising passive income. The return is below inflation. Indeed, deposits are the safest and easiest type of investment for most people to understand.

But if investing in bitcoin hoping for high passive income but we don't understand the investment we are taking? It's the same as lying because we will find it difficult to understand & manage it.

The important thing is always learning. Wherever we save everything is the same, the most important thing in my opinion is to set a good lifestyle and financial management.

[Moeda]

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

If I have $100k, and I don't need that money for my daily needs, of course I prefer to buy Bitcoins compared to keeping it in the bank.
Only a fool would deposit money in a bank. If we don't invest in Bitcoin, it would be better for us to open our own business. I think the profit we get is far greater than the interest rate provided by the bank.

When it comes to crypto, saving money in the bank is the same as staking. Think about it, if you have $100k, and you are staking that amount in a set amount of time. Which is more profitable for you by doing short-term trading?

It's just that if someone wants to take a safe position with the number of people they have, then it's better to keep money in the bank, or buy crypto and then stake. But if they feel ready to take all the risks, then it's better to buy Bitcoin. If they can invest for the long term, I don't think buying Bitcoin is risky. It is risky to invest in Bitcoin, if you buy it today and sell it tomorrow.

[Nunman]

At this present, Banking deposit is very lowest profitable. Infaltion incrase day by day. World economic fall ! many bank bankrupt held for this ression. Same refection in bitcoin. But, few days look up bitcoin price is increse. Previous 2 or 3 week ago when bitcoin price 17000$. Today bitcoin price 23000$ up. So, bitcoin invest is very profitable.

[SirLancelot]

At this present, Banking deposit is very lowest profitable. Infaltion incrase day by day. World economic fall ! many bank bankrupt held for this ression. Same refection in bitcoin. But, few days look up bitcoin price is increse. Previous 2 or 3 week ago when bitcoin price 17000$. Today bitcoin price 23000$ up. So, bitcoin invest is very profitable.

But I think despite of that fact, there are still people who keep on using banks because they think their money is still safe there than if they hold it on their own. If they want to take investing seriously then I believe they also know how to diversify their funds and allocate it in different things which can bring them some profits like opening a business, investing in stocks, real estate, etc..

When the economy collapse, indeed that not only banks/fiat are affected but BTC can also suffer although all of them has a chance to recover. BTC is volatile and can dump more but that's fine since it can still recover what it lost and earn more than it.

[visionE2]

At this present, Banking deposit is very lowest profitable. Infaltion incrase day by day. World economic fall ! many bank bankrupt held for this ression. Same refection in bitcoin. But, few days look up bitcoin price is increse. Previous 2 or 3 week ago when bitcoin price 17000$. Today bitcoin price 23000$ up. So, bitcoin invest is very profitable.

I think both have their risks. Even though Bitcoin Investment is a very large profit for the long term. However, saving money in the Bank, the risk is very low. Even the possibility of loss can be prevented.

Meanwhile, in bitcoin investment, you will be faced with various risks. One of them is the risk of server hacking and virus attacks. Which in essence you have to understand and seek knowledge about Bitcoin before investing.

[freedomgo]

The most common mistake many new investors make is rushing into cryptocurrencies without any guidance. I think this is the first thing that is very important for you to understand. If you understand this, your purpose for investing in bitcoin is correct because you have enough for your daily needs.

If you want to be successful, have a rich mindset, spend less, and invest more depositing money in the Bank is not the right choice. Don't give up on your dreams.

Actually, not just with cryptocurrencies where these mistakes are common to happen, even in stocks, bonds and real estates. The thing is, people tend to rush whenever it's hyped without having the right knowledge before investing on it, that is why in the end, they are making more losses than profits that they could've had if they just had the right knowledge. And yes, it's nonsense to keep these funds in the banks because the interest can't at least chase the inflations that happen yearly.

[lepbagong]

At this present, Banking deposit is very lowest profitable. Infaltion incrase day by day. World economic fall ! many bank bankrupt held for this ression. Same refection in bitcoin. But, few days look up bitcoin price is increse. Previous 2 or 3 week ago when bitcoin price 17000$. Today bitcoin price 23000$ up. So, bitcoin invest is very profitable.

I think both have their risks. Even though Bitcoin Investment is a very large profit for the long term. However, saving money in the Bank, the risk is very low. Even the possibility of loss can be prevented.

Meanwhile, in bitcoin investment, you will be faced with various risks. One of them is the risk of server hacking and virus attacks. Which in essence you have to understand and seek knowledge about Bitcoin before investing.

Actually, wallets and banks are equally safe, it's just the behavior of those who hold them, are they able to maintain the confidentiality they have. the matter of hacking a wallet is the same as a fraud that can be done to break into an account at our bank, but everything can be protected by our good methods.
but investing in bitcoin is more profitable than bank deposits, what is needed is patience and willing to be prepared with a time that requires at least 4 years each halving period.

[Marcellin9]

At this present, Banking deposit is very lowest profitable. Infaltion incrase day by day. World economic fall ! many bank bankrupt held for this ression. Same refection in bitcoin. But, few days look up bitcoin price is increse. Previous 2 or 3 week ago when bitcoin price 17000$. Today bitcoin price 23000$ up. So, bitcoin invest is very profitable.

I think both have their risks. Even though Bitcoin Investment is a very large profit for the long term. However, saving money in the Bank, the risk is very low. Even the possibility of loss can be prevented.

Meanwhile, in bitcoin investment, you will be faced with various risks. One of them is the risk of server hacking and virus attacks. Which in essence you have to understand and seek knowledge about Bitcoin before investing.

Actually, wallets and banks are equally safe, it's just the behavior of those who hold them, are they able to maintain the confidentiality they have. the matter of hacking a wallet is the same as a fraud that can be done to break into an account at our bank, but everything can be protected by our good methods.
but investing in bitcoin is more profitable than bank deposits, what is needed is patience and willing to be prepared with a time that requires at least 4 years each halving period.

Exactly. Your comment is not long but makes very good points. Too many people can not get a big picture of the pros and cons or they intend to selectively ignore the things that they don't want to accept.

[MusaPk]

The most common mistake many new investors make is rushing into cryptocurrencies without any guidance. I think this is the first thing that is very important for you to understand. If you understand this, your purpose for investing in bitcoin is correct because you have enough for your daily needs.

If you want to be successful, have a rich mindset, spend less, and invest more depositing money in the Bank is not the right choice. Don't give up on your dreams.

One has to understand bank and crypto fully before making any decision. Bitcoin can gives you good return in short duration while Banks will be you a fixed return over the period of time that is proportional to inflation rate. But we have to understand other side also, bitcoin or crypto is risky investment and you need proper training and guidance to do that successfully while investment in Banks is risk free. Whatever you chose make sure you understand it fully before making in decision.

[MiF]

Now you have $100,000 in your account, pure savings, and you don't need this amount of money to cover your daily expenses. Obviously it's good/free money to use at will. Let's say if you deposit the money into a bank and the annual interst rate is 3%, you will get a steady interest income year by year. If you use this money to buy Bitcoin, let's say the BTC drops to $17,000, you'll buy less than 6 Bitcoins. In the long run, what would you do with this money ? And why ?

I think investing into bitcoin is the best option, because that was a free money and we all know that if we can hold bitcoin for a long term we can really earn big amount of profit. Bank interest is not big it will also take a very long term to make a profit while in bitcoin if we are lucky and it will become bullish after a year then we can get big profit on short term hold. There is a very big difference within the bitcoin and the bank bank is a good option but i am sure that bitcoin will be more profitable if we can hold with patience.

[Godday]

I think that investing in Bitcoin is still the best.  But I will decide to invest in Cryptocurrency not only in one Bitcoin.  Maybe I will choose some coins that have a stable value and I think it is a form of smart investment choice considering the current developments in the world.

[cafee_orange]

by having that much money I will divide it into 2 parts, 1 part for investing in digital currency, especially bitcoin and the other 1 I will deposit at the bank for daily needs. with the amount I invest in Crypto, I will make it grow and have a profit. I think if all of our assets are invested in crypto it will burden us if the market continues to decline.

[Vishnu.Reang]

I don't invest my entire money in one thing, this is really risky if unfortunately something bad will happen where i spend my money then there will be no other option for me that's why I need more investment not to rely on just one. I always divide what salary I used to get monthly base half in bitcoin and half I always invest in my side business. If this business perform well in future then I don't have to do job in future. That's why I don't spend much and my focus is always to invest in such things rather then keeping my money in bank.