Deposits-in the bank or in gold?

[ancafe]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt,

Once the financial system is centralized and they never guarantee that the money you put there will be returned when they go bankrupt, there is no way to maintain the value of fiat currency in the midst of a recession or inflation. What we have to do is move money there by other methods, such as buying gold and bitcoin, while only keeping enough money according to needs, deposits as a product offered at banks are also not profitable when talking about bank bankruptcy.

But to be honest, we really need fiat to support our trips because until now fiat is a legal payment method. But speaking of accuracy to maintain the value of the currency that we have, we should choose another method to save by investing in gold or bitcoin.

does it make sense to buy gold?

Gold has the ability to survive amid inflation and buying gold makes much more sense than keeping it in a bank, gold is stable and can maintain value, But speaks of weakness, gold is slow to provide big profits according to your expected profit target.

How is gold bought in a bank and interest is issued on it?

Don't use this pattern to buy gold because you can buy it directly at the store that sells it and you can save it yourself to avoid interest.

[Alpha Marine]

Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.

Aside from the bankruptcy issue, in my country, our local currency cannot be trusted at all. Saving your money in the bank with our local currency is just a house of cards, it will certainly crumble. The currency just keeps on depreciating. Although it has been relatively stable this year when compared to the last three years, it's still a shit currency. It's stable now but I know it will still devalue in a few months time.
Inflation is so high that your $2000 may be worth $1500 within a year.
I'm not saying you can't use the banks but it won't be wise to leave your savings in a bank in my country, especially for a long period of time because it's a certainty that the currency will devalue due to the increasing rate of inflation and the very poor political and economic system in the country.

[arwin100]

Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.

Aside from the bankruptcy issue, in my country, our local currency cannot be trusted at all. Saving your money in the bank with our local currency is just a house of cards, it will certainly crumble. The currency just keeps on depreciating. Although it has been relatively stable this year when compared to the last three years, it's still a shit currency. It's stable now but I know it will still devalue in a few months time.
Inflation is so high that your $2000 may be worth $1500 within a year.
I'm not saying you can't use the banks but it won't be wise to leave your savings in a bank in my country, especially for a long period of time because it's a certainty that the currency will devalue due to the increasing rate of inflation and the very poor political and economic system in the country.

Inflation really affect on that situation that's the reason why its not ideal to deposit your money in the bank since you will just get defeated by heavy inflation if this occur. The small percentage given by those banks cannot cope up with that situation that's why in the long run you lose something with them by choosing this option. Purchasing gold is now famous nowadays since many people especially those gold investor see a huge potential that the value will over the years that's why many choose to grab this as one of their ideal investment option.

[jostorres]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

That's a weird question to ask on a Bitcoin forum.  Bitcoin can't go bankrupt, it has no CEO, no board of directors, it never sleeps, it has great uptime and it can't be confiscated. Bitcoin doesn't take loans and it doesn't risk with customers' (users') funds. It's not dependent on any country's economy. What else could you wish for?

What about gold? Doesn't it have the same qualities as well? There is one difference between Bitcoin and gold and it is that Bitcoin is way more volatile than gold, the price of gold doesn't fall as much as it grows over time while Bitcoin's price growth and drop speed are pretty much too high when compared to gold which makes it a more risky investment.

But I don't recommend someone buy and store gold in a bank, that doesn't really give someone an edge over inflation since it is again in the custody of centralized authorities and inflation can affect it for sure.

[Moeda]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

If we invest in gold, it would be nice to buy gold that has physical properties and we keep it for ourselves. Don't think about interest if the savings are in gold. Saving money in a bank will make the value of the currency decrease, giving no benefit to the depositor except for small amounts. If inflation occurs, gold will not have an impact on the inflation.

[livingfree]

does it make sense to buy gold?

Yes.

It's one of the best hedge against inflation. But since you're in the Bitcoin forum, Bitcoin is better than gold. 

How is gold bought in a bank and interest is issued on it?

You can buy the tangible one and have it on your hands physically. But thanks to the brokers, you can buy gold as in digital gold that also have the value the same as the physical ones.

Now, you see those hypocrites that don't like bitcoin and says that it doesn't have a physical attribute while they're doing the opposite for gold.

[Wong Gendheng]

I prefer a deposit in the bank rather than gold, this is because saving money in the bank is safer and of course getting security guarantees so that when things happen then we can claim, in contrast to saving money in gold so if we are lost we cannot do anything.

[Fivestar4everMVP]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Why exactly do you need to buy gold when you can simply buy bitcoin,?.
Well, I am not against diversifying your investment, but buying gold, legally involves a lot of paper works and documentation, atleast, I know it as this in my country, I don't know how or what process is involved for other countries..

But for me personally, I will rather buy bitcoin, than buy gold if moving my money away from fiat becomes paramount in saving it from inflation.

[Gallar]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

When it comes to saving money in a bank, sooner or later your money will surely be eroded by the so-called inflation and monthly administration fees that are already in the bank's system. Therefore saving in a bank is not a good place to store value for the money you have. Especially when inflation attacks, it will definitely reduce the money you have. Even in this forum, many have explained about the bank's system that extorts profits from its customers too much. So it is better to save your money in gold than in the bank. Because gold has stable price movements every year, it is easy to turn into cash, and gold has proven to be an investment asset that many people are interested in. therefore you don't need to hesitate if you want to start investing in gold.

And I suggest, if you want to invest in gold, don't buy or invest through a bank, it's better to go straight to the pawn shop, so it's safer and more reliable.

[BobK71]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

If we invest in gold, it would be nice to buy gold that has physical properties and we keep it for ourselves. Don't think about interest if the savings are in gold. Saving money in a bank will make the value of the currency decrease, giving no benefit to the depositor except for small amounts. If inflation occurs, gold will not have an impact on the inflation.

I will give priority to any investment than keeping money in the bank. And as such there is a wide difference between gold and bank deposits. If you keep money in the bank, the bank charges are levied, moreover, due to different types of duties and inflation, it is better to buy gold than the bank deposit. It is possible to maintain the value of money by holding it in gold regardless of inflation. But if one expects to get more money from the investment then one can decide to invest in Bitcoin. It is a reliable investment for long term.

[diminizio]

I prefer gold. more money to inflation even if it's kept long enough, well I know deposits may possibly invest some profitable assets in the future but I think in the long term nothing compares to gold. gold will replace currency to be the real medium of exchange in the future that is what gold does best in the future.

[Dr.Bitcoin_Strange]

Well, you are right about your judgment against the banks; it doesn't really make sense to keep money in the bank any more because if you keep your money in the bank, it will get devalued due to inflation. Really, I don't think banks do sell gold. In my country, there's nothing like that. Just that, you can also save up your gold in the bank safe if you want. But I don't even advise that one store their gold in the bank either.

[Uruhara]

Buying gold and storing it is much safer and can also avoid inflation. than we deposit our money in the bank. Even the rate of profit interest offered by the bank is sometimes still unable to cover the decline in value that occurs due to inflation. So personally I prefer saving in the form of physical gold. And I avoid platforms that provide gold digitally. because i think if it's a digital asset then bitcoin is much better. gold becomes valuable because it has a physical element that we can hold. but if we don't hold the gold physically then it's a big risk.

[yohananaomi]

I prefer gold. more money to inflation even if it's kept long enough, well I know deposits may possibly invest some profitable assets in the future but I think in the long term nothing compares to gold. gold will replace currency to be the real medium of exchange in the future that is what gold does best in the future.

I agree, if you compare gold and deposits, it is clear that gold is more productive and can be used as an attractive investment for a long time, because deposits only rely on bank interest, which is not greater than savings interest. but if it's even better, of course for the long term, it's willing to invest in bitcoin, because for the same long period of time, bitcoin will be more profitable than gold.
once again deposits are not bad but for profit not too good than gold.

[STT]

Gold is long term money, you cannot really pay bills in gold.  Also the variance of gold price can be upto 50% decline in a year which would make it appear worse the inflation losses to currency at times.  Gold might well be superior to cash but also its been held back in its liquidity by the modern system of exchange based around government promissory notes.
   Ideally for gold buying you say to yourself do I want to hold and retain this gold for a decade, till 2033 am I comfortable holding this elemental asset regardless of price.   The price can go and do whatever, you will keep that same amount of gold which is its strength and drawback in that it has no yield.  So the very hard questions is required to limit your aspirations, dont over speculate dont hold a hard asset when you require liquidity in your ability to pay cash bills regularly.
  The basic rule of course is never more then 10% of your total wealth should be gold, its risky otherwise which is the opposite of why to buy gold hence dont.  You must continue to have cash and gold for now.

[Fara Chan]

If we invest in gold, it would be nice to buy gold that has physical properties and we keep it for ourselves. Don't think about interest if the savings are in gold. Saving money in a bank will make the value of the currency decrease, giving no benefit to the depositor except for small amounts. If inflation occurs, gold will not have an impact on the inflation.

Gold and fiat money are clearly different and certainly in this case physical gold is much better than fiat money that can be stored in a bank. The reason is very logical, that Gold has the potential to increase while fiat money has no potential that can be expected except to only store temporary value. In terms of saving, actually I would also recommend both of them to everyone who wants to save because fiat money will not hurt to save either.

But if you want to choose one of these two options, of course Gold is a very good choice over fiat money because Gold can be used as a future investment asset as well as being a store of value. So this is of course more favored by Gold so that it would not be wrong for everyone to continue to see Gold as an investment asset in physical form apart from their investment assets in cryptocurrencies which do not have a physical form.

[bitzizzix]

I prefer gold. more money to inflation even if it's kept long enough, well I know deposits may possibly invest some profitable assets in the future but I think in the long term nothing compares to gold. gold will replace currency to be the real medium of exchange in the future that is what gold does best in the future.

I agree, if you compare gold and deposits, it is clear that gold is more productive and can be used as an attractive investment for a long time, because deposits only rely on bank interest, which is not greater than savings interest. but if it's even better, of course for the long term, it's willing to invest in bitcoin, because for the same long period of time, bitcoin will be more profitable than gold.
once again deposits are not bad but for profit not too good than gold.

And gold can change at any time and the price can go up and vice versa, and the price of gold is influenced by supply and demand for gold, international trade relations. But in the long term, gold can provide very profitable returns, depending on your patience to wait.

and while Deposit, will guarantee constant returns to users depending on the amount you deposit and remain neutral to any external factors.

and when gold is compared to bitcoin, clearly bitcoin is much better, especially in the long term.

[Darker45]

Well, if you can completely do away with a savings account in a bank, avoid it. But where would you keep your money for emergencies and other future expenses? You can have a fault in your house, yeah, but can you access it from everywhere like when you are traveling?

I'm saying it's almost impossible to totally detach ourselves from banks. Even those who are against the banks probably have bank accounts. So it's probably best to maintain one but keep only a small amount.

If you are saving a huge amount, however, that is not intended for something else, you better save in gold or real estate or Bitcoin.  

[ethereumhunter]

For now, it seems that keeping savings in a bank is no longer a way to have a lot of money because the interest from the bank is less than the fees that must be paid each month. Unless you have a lot of money, it may make sense to earn more interest than the costs. So the money you want to save in the bank should be used to buy gold because it can provide more benefits in the future than keeping money in the bank. And besides gold, we are now familiar with bitcoin, which can also be used to store the value of the money we have where the return that Bitcoin can give can be greater than our profit compared to saving gold. But people who are used to saving gold will still choose gold over bitcoin because they can see the physicality of the gold. It's just a matter of individual choice and it's okay if they prefer to store gold over bitcoin.

[Lorence.xD]

Well, if you can completely do away with a savings account in a bank, avoid it. But where would you keep your money for emergencies and other future expenses? You can have a fault in your house, yeah, but can you access it from everywhere like when you are traveling?

I'm saying it's almost impossible to totally detach ourselves from banks. Even those who are against the banks probably have bank accounts. So it's probably best to maintain one but keep only a small amount.

If you are saving a huge amount, however, that is not intended for something else, you better save in gold or real estate or Bitcoin.  

This is well said, the two options for us is more like different things to invest or save money. Bank are more like you could easily withdraw money as long as you have the savings in your bank account. While for golds if you won't need the money for long then it would be the best to put your money in investment with gold since we all know that gold in a long time would worth a lot. Banks give people convenience to have money everywhere since you can still withdraw in other ATM machine even though there's a fee. And golds give people a good investment since there's a lack of supply of gold that will increase it's value in years.