Save your money in a bank or invest in crypto market

[OfficialGratejoy]

The decision to save your money in a bank or invest in crypto,depends on several factors,including your financial goals,risk tolerance and time horizon.
Here are some points to consider.

Saving in a bank:

Fixed return,earn a fixed interest rate,other it may be low.

Liquidity,easy access to your money when needed,you we just scandal all your money just like that,because you have easy access to it.

Saving money in a bank is not an investment.

Investing in crypto:

Investing in crypto market is an investment.

Crypto investment can offers higher returns compared to banks.

Cryptocurrencies like bitcoin and etherium have showed significant growth in the past,with potential for future appreciation.

Cryptocurrencies can be easily bought and sold on online exchanges,providing liquidity.

Crypto market are open 27/7,allowing for trading at any time.

[Josefjix]

What I know is that, every innovations modifies the old structural development of an institutions as the purpose to everything is civilization, the case of crypto investment and banks is quite a new innovations just like postal office and emails bringing in new system of message delivery too. So it's nice embracing new innovations when it comes and be part of it.

Crypto serves multiple purposes, cross border transactions and investments (long and short term), Banks doesn't offer much other than savings with no increase in values, investing with low percentage rate for longer period but has limited amount which only favours the rich which is discrimination.

[casey15]

As much as we may think, saving in banks won't go away anytime soon... Fiat currency is far from being outdated and so saving in banks is still and will be very valid irrespective of the returns you may or may not get...
         However, crypto can become handy when it comes to discipline as you know that a small mistake can make you easily lose your asset, and the security is offers too makes it almost more reliable that traditional banking... Busy still don't forget that banks too have insurance investments to make sure your money is always available evening in the face of theft, disaster or destruction.

[SmartGold01]

Save your money in a bank or invest in crypto market

When we talked about investment it is important to know where you are channeling your efforts to; everyone who must involve with investment should be able to know why they do that investment. We just can't just move to invest without at least securing such investment by have additional source of income and alternative for inflow of cash, we can put our money in bank today and still ends up using them for emergency purposes, we can as well put our money into cryptocurrency especially coin like bitcoin and still ends up not becoming a prolific holder. So therefore what is needed is for us to make reservation or provision of additional income before going into investment, lot of people talks about investment but doesn't know how to manage their investments properly.

[Mehmet69]

The decision to save your money in a bank or invest in crypto,depends on several factors,including your financial goals,risk tolerance and time horizon.
Here are some points to consider.

Saving in a bank:

Fixed return,earn a fixed interest rate,other it may be low.

Liquidity,easy access to your money when needed,you we just scandal all your money just like that,because you have easy access to it.

Saving money in a bank is not an investment.

Investing in crypto:

Investing in crypto market is an investment.

Crypto investment can offers higher returns compared to banks.

Cryptocurrencies like bitcoin and etherium have showed significant growth in the past,with potential for future appreciation.

Cryptocurrencies can be easily bought and sold on online exchanges,providing liquidity.

Crypto market are open 27/7,allowing for trading at any time.

Your words are correct. You yourself said how and crypto work. Banks will not just give you a fixed return. Rather, they will deduct sorke money from your fees in the middle. But if you invest in the crypto market, you will not lose your money. If you invest in Bitcoin by following the right rules, you will get good returns from Bitcoin. However, there are thousands of other types of coins in the crypto market that may be enough to make you happy. So I think investing in the crypto market will be good for you.

[kasablings]

Save your money in the bank or invest in crypto market.i will go for investing in crypto market is better than Saving in the bank.investing in crypto is an investment and investment comes with profit but saving your money in the bank is not an investment is a savings so choose what you want Savings or investment.

[IceLincoln]

Saving in a bank or saving in crypto as investment, it all depends on the individual and what he or she wants.
A person who is wealthy can choose to save some portion of his money in the bank and can still invest in crypto in large or small sums. But for someone who isn’t as wealthy who is looking to up his income might choose to save in crypto as it’ll bring more profits and gain.
Keeping money in the bank is just for easy accessibility (which these days in Nigeria is proving somewhat difficult) and for security in keeping your money safe.
Crypto Investment is a very profitable business, better than saving in the bank though it might vary on what an individual wants

[Wiwo]

What I know is that, every innovations modifies the old structural development of an institutions as the purpose to everything is civilization, the case of crypto investment and banks is quite a new innovations just like postal office and emails bringing in new system of message delivery too. So it's nice embracing new innovations when it comes and be part of it.

Crypto serves multiple purposes, cross border transactions and investments (long and short term), Banks doesn't offer much other than savings with no increase in values, investing with low percentage rate for longer period but has limited amount which only favours the rich which is discrimination.

Agree with the fact that cryptocurrency is multiple functional and can offer far more reaching opportunities than the traditional banking system, but as a currency of trade or as a store of value, take bitcoin for example, someone who put NGN 1000000 in buying bank stock that is subject to inflation and another who put down ₦ 100000 in Bitcoin in 2018 buy now the bank asset will probably have generated low percentage profits which will be eaten up by high inflation and cost of basic commodities, but for bitcoin, it's an edge above inflation and what make you the profits is your level of experience and knowledge so for sure there is a far-reaching difference between the two.

Most of the time, why most centralized banking systems through the central bank are always against bitcoin and other digital crypto assets because they feel that the decentralized system is going to take their jobs and a way more trusted and used by those who know its market.

Although the narratives are changing and they're beginning to accept the realities that there is no way that cryptocurrency will give way to intimation harassment or blockage and at that governments are taking steps to regulate the crypto market which is what is expected at least to monitor its activities and checkmate actors in the crypto sector which have become an inter-related industry that need a lot of structural understanding since crypto is an innovation.

[Tbillion]

Actually saving money in the bank is just a wast of time specially with the way the economy is going financially the rates that banks are suppose to put even if it’s low are not being implemented rather the bank will use your savings money and do business and gain profits and still gives or add little to your money in the bank. But investing in crypto bring higher interest rates

[Felicity_Tide]

Definitely, crypto investment is an ideal investment, especially in this country that we live in. But it's quite unfortunate, that so many people won't be part of it due to many reasons like digital illiteracy, or fear of anything that has to do with digital money aside their banking systems that they know of. In Nigeria, we are still very much use to land and other investments, while crypto(Bitcoin in particular) on the other hands offers a more efficient results compared to some of the investment we are used to. The thing is, those who can find their way in the crypto space ends up creating massive opportunities for themselves. Buying and selling might not just be the only thing, but participating in other areas as well can yield good results like a normal investment.

From the little experience I've had, Nigerians are literally going through alot in the hands of banking institutions. We are in 21st century, and we still find people waiting on queue just to either make a complaint or withdraw their own money. We still beg to have our own money that doesn't yield profits. Then what's the point of even leaving it in the bank anyways, when the money can grow overtime through investment.

[EarnOnVictor]

Saving your money in the bank is good, just as investing it in cryptocurrency is equally good, time matters. You will be wrong to invest your money in crypto during the bearish season unless you are using stablecoins in place of the bank. Still, saving the money in $USD in the bank is safer than saving it in stablecoin online. Again, many banks will give interest on the money and you may enter a special packet with a higher interest rate, so you are not losing. However, it will be a missed opportunity to keep the money in the bank during crypto's bullish periods. It's almost certainly safe from depreciation then and you may even earn more than 3x of the invested amount.

[Coyster]

Any money wey dey for your bank account suppose be money wey you keep for emergencies and for daily expenses, how you go carry all your money keep for bank when fiat dey devalue due to inflation. You wan keep your money for bank for a 5-10% interest rate, you forget say during that time the rate of the currencies inflation don double, so na loss you dey na.

That said, your money suppose dey different investments, bitcoin should be one of them, others na real estate, gold, and so on, keep money for assets wey dey appreciate, no be for wetin they depreciate.

[Huliya]

The main advantages of depositing money in a bank are safety, stability, and low risk. Savings in banks are generally safe because they have federal guarantees and regulatory protections, so the chances of losing your money are low. However, interest rates are relatively low.

On the other hand, investing in the cryptocurrency market allows you to get immediate profits, for example from the rising prices of Bitcoin and Ethereum. However, the cryptocurrency market is volatile and the risk of investing here is very high. The price of cryptocurrencies can fluctuate rapidly. If you invest in Bitcoin for the long term, you will not have any fear of losing your capital. Instead of investing in cryptocurrencies, you will invest in Bitcoin, in which you will receive a share of the capital along with the profit.

Ultimately, your decision should be based on your financial goals and risk tolerance. However, I would decide to keep my money in Cryptocurrency on my own.

[Odogwu-Blockchain]

Save your money in the bank or invest in crypto market.i will go for investing in crypto market is better than Saving in the bank.investing in crypto is an investment and investment comes with profit but saving your money in the bank is not an investment is a savings so choose what you want Savings or investment.

Banks also offer investment too but it's not always available for everybody except you might have reached some certain amount of money deposited so far. The customers that are always eligible for bank investment too are the civil servants workers and not just a regular earner. In fact the terms and conditions are restrictive so some certain categories of customers and it's really annoying.

Crypto investment is opposite and do not select who and who could join in, the eligibility is open no matter the class of your category.

[justinlamode]

This has to do with the individuals and the level of information they have access to and also apply. People believe that saving money in the bank is a wise practice but from the time Buhari enter power till date, we have seen how useless it is to save money as fiat in the bank. People have lost huge value of their money to inflation and the Naira devaluation. Power have indeed became poorer, not because the amount of money they have reduced but because the purchasing power of those money have diminished. Saving money in Bitcoin should be seen as a golden opportunity to escape inflation and also earn big profits because Bitcoin keeps rising and increasing in value.

[Mpamaegbu]

Investing in crypto:

Investing in crypto market is an investment.

Crypto investment can offers higher returns compared to banks.

Make I leave saving in bank matta and talk about investing in cryptos from d points wey you raised. E get wan thing wey I do wan time like dat wit cash but I was careful doing it. I carry cash wey I for use as rent from bank take am put for Bitcoin. I made sure sey a few months from dat investment Bitcoin go experience halving. We sabi how halving dey make price spike. As halving begin happen, dat rent money do more than X4 for me. Easy investment. Dat wan na experience wey I nor go ever miss any time wey halving draw bodi put. It takes persin wey get coconut head to do am bc many thoughts go dey go through ur mind like what if d money nor comot B4 rent come finally due, nko? So many scatter scatter thoughts oh. Anyway, timing is very crucial here. Nor be anytime dem dey invest for cryptos and profit from am.

[Coyster]

Saving money in Bitcoin should be seen as a golden opportunity to escape inflation and also earn big profits because Bitcoin keeps rising and increasing in value.

Whilst that is true, the problem wey many people dey get be say dem no know how to be their own bank, you go see person wey buy bitcoin, but him go keep am for centralized exchange, e better for such person to just hodl fiat in their bank account, e dey safer for them. If you must buy and hodl bitcoin, then you must also know how to be your own bank, so that you no go lose your bitcoin later, come dey cry say bitcoin na scam.

[SmartCharpa]

I know sure say there is any need for argument on this particular issue. If someone wishes to save money for years to get profit, they should question others who have to save money in the bank, and how much profit they are making compared to other people who have invested in Bitcoin. In today's environment, there is just one option for making a profit; and everyone sha will be happy to put their money where them go get a big return.

You know say in the time of our parents, they had nothing like investments, and they saved their money in banks because they trusted them above all else. In many societies, banks dey borrow money from the majority of wealthy people and give them interest at the end of the year. However, young people who are aware of cryptocurrencies will never save their money with banks since the interest rate is so low, that banks cannot give you 2x of your savings.

[Ndabagi01]

An investment should come in different depending on the purpose of which the investment was initiated initially. The investment into as asset today has been hovered with practically innovations, thereby not considering other means of investment as been a worthy one since they’re been outdated.

One thing we should know is that innovations may has its point and why they moved from an old way of doing things to a new one, but that does not necessarily mean that the former ways cannot still be utilized. It all depends on the purpose of which the investment is made and the reason behind it working out or not using that method.

Banking may be obsolete to some people but it still serves its purpose and can be appreciated for its own course too. Being a bitcoin holder does not make you have all advantages ahead of the one without it and still depending on the traditional banking system investment is also a method that can be employed with good profits targets.

[Berryfolia]

What I know is that, every innovations modifies the old structural development of an institutions as the purpose to everything is civilization, the case of crypto investment and banks is quite a new innovations just like postal office and emails bringing in new system of message delivery too. So it's nice embracing new innovations when it comes and be part of it.

Crypto serves multiple purposes, cross border transactions and investments (long and short term), Banks doesn't offer much other than savings with no increase in values, investing with low percentage rate for longer period but has limited amount which only favours the rich which is discrimination.

Saving money in the bank only favor a particular class of person in the society,so if your savings is very little and it will not maximize the kind of of profits you are looking for,it is even better to invest the money in crypto and hodl it for some time,like you will be surprise of the outcome because it will be mind blowing experience altogether.savings money in the come with conditions and interest is very low,irrespective of period of time they decide to save but crypto investment there is nothing.