Using BTC as Savings for the future

[Agbam]

You know how you normally save money in a safe, bank or saving box and you keep adding more money to it as time goes on…… yeah this could be practiced by newbies who wants to start getting involved in bitcoin, I know most of the old guys here, are already practicing this.
As soon as you have that extra money you’re not using that you’ll like to save, just put it in bitcoin and keep doing it regularly as possible.

Money kept in banks have little to no interest most times, money kept in a safe or saving box remains the same afterwards, no matter the time duration. But you see if you start saving in bitcoin, despite that the market is volatile but there’s a higher probability that you’ll have a massive growth of value than a loss, I don’t even think there’s a loss unless you decide to sell when the market dips below your entry points.

If you look at the historical growth of bitcoin you’ll know that it’s in an ascending trend, the price of bitcoin by this time last year has doubled this year, I think it was around $60k last year but now we’re seeing it in $120+K.

If you would like to acquire a house in the future and you start saving for it. It’ll be better to save that money in bitcoin than in traditional bank, cos the value of bitcoin is always increasing and you can acquire more if you save for a long term like 4,5 years and above.
You’ll discover that even if real estate prices increases, your bitcoin value will be able to buy it X2.
And so it is for other things you would want to save for, instead of keeping that money sitting idle in the bank, sometimes you might even get lesser money than what you put in after banks have taken their charges and taxes, So invest it in bitcoin.

Saving in Bitcoin is the best option for you.

[Donk1]

Op nice post  but I would say I don't actualy agree with what you said, because no newbies will rather keep their money in a safe box than  invest  it into bitcoin the people who keeps their  money in safe box are those who are often not familiar or don't know anything about bitcoin. Also I will like to say there can only be a higher probability  of a massive growth in one's investment if the person applies good strategies to his or her long term growth in the bitcoin market .that's why newbies or not it's said to never invest your emergency funds so that's you won't be stranded and  then ouut of frustration you will now sell at a loss, I believe that bitcoin Investment is all about financial planing and starting small with an amount that you will be willling to lose is good but then always remember to prioritise on,not losing your funds than the money you are going to make in the Market .

bitcoin is an asset with grate potential and it's not a bank or a fintech it's an asset for long term investment which means you can't just sell anyhow because  of one thing or the other ,you have to plan things ahead and be prepared that's just it.

[Creeper0]

Bitcoin works against inflation or does not have any effect on Bitcoin, on the other hand, inflation affects your savings and the amount of your savings decreases. Whether you get interest from your savings or not, you will still be affected by the effects of inflation. On the other hand, Bitcoin works against inflation and instead of reducing the value of your savings, it increases day by day.

If you keep saving in your personal vault, there is no doubt that you are going to lose the value of your assets due to the effects of inflation. Even if you want to be dependent on the bank and want to cut the effect of inflation by taking profits, I think you will not be able to profit like Bitcoin. In the long run, the bank will not be able to give you the same profit as Bitcoin. Even by saving in the bank, you are losing freedom over your money, there will be a risk of insecurity and the amount of personal wealth is being interfered with by the government. Saving in Bitcoin is more profitable, safe, and independent.

[Antotena]

.
If you would like to acquire a house in the future and you start saving for it. It’ll be better to save that money in bitcoin than in traditional bank, cos the value of bitcoin is always increasing and you can acquire more if you save for a long term like 4,5 years and above.
You’ll discover that even if real estate prices increases, your bitcoin value will be able to buy it X2.
And so it is for other things you would want to save for, instead of keeping that money sitting idle in the bank, sometimes you might even get lesser money than what you put in after banks have taken their charges and taxes, So invest it in bitcoin.

Saving in Bitcoin is the best option for you.

I will be against it but if that's work for you, then go ahead. Bitcoin has its season, there is bull market and there is bear market. Often in a every 4 years we do experience bull market and bear market but ever since the last halving we had, Bitcoin has been on a uptrend, there has never been a bear trend so if you have invested back then before this bull run, you have succeeded in making one of the biggest decision in the history of mankind but nobody knows the state of the market tomorrow.

Use other money for Bitcoin investment, the money should be an investment you want to make in the long run and not something you can need out of blue moon. The day you need the money to make your investment maybe the day the market will turn around, you don't have choice than to wait for another time to sell and who knows when exactly, this is why I don't advise with this kind of plans but if you plan for long term, years and above then you are free.

[Rhow]

Use other money for Bitcoin investment, the money should be an investment you want to make in the long run and not something you can need out of blue moon. The day you need the money to make your investment maybe the day the market will turn around, you don't have choice than to wait for another time to sell and who knows when exactly, this is why I don't advise with this kind of plans but if you plan for long term, years and above then you are free.

Yes, you are right. We should have a long-term plan to invest in Bitcoin. It is important to save as much as we can for our future.

If we save in fiat currency, our savings will be subject to inflation. But if we invest in different places with that savings, then over time, that savings will give a good profit. Bitcoin is a profitable investment among various investment objects. But there are different investment methods to manage this investment properly. We can easily invest using any one of the methods. The easiest method is DCA. If we do not invest in any method, then after a while we will have to face financial crisis to meet our daily needs. We may have to sell the investment to get out of the financial crisis. But if we can manage our cash flow in a proper way and start investing, then long-term investment is very easy. And this investment is the best option for our future savings.

[Jegileman]

You know how you normally save money in a safe, bank or saving box and you keep adding more money to it as time goes on…… yeah this could be practiced by newbies who wants to start getting involved in bitcoin, I know most of the old guys here, are already practicing this.
As soon as you have that extra money you’re not using that you’ll like to save, just put it in bitcoin and keep doing it regularly as possible.

Many of us who got to know about bitcoin in the later stages missed out on this but it was never too late. The bitcoin market is very much not too late for anyone even if they get to understand and decide to start an investment in it now. Those little money we would have looked down on not to be a significant amount is today now worth something if it was invested in bitcoin. Those types of savings is what is now rebranded to DCA, because they look similar.

Money kept in banks have little to no interest most times, money kept in a safe or saving box remains the same afterwards, no matter the time duration. But you see if you start saving in bitcoin, despite that the market is volatile but there’s a higher probability that you’ll have a massive growth of value than a loss, I don’t even think there’s a loss unless you decide to sell when the market dips below your entry points.

…<Edited out>…

Saving in Bitcoin is the best option for you.

Those that makes fixed deposit on their account in banks are doing the wrong thing and they’ll will regret in future why they don’t save in other assets that could bring them good returns in years to come. Bitcoin is a volatile asset but still the best form of investment to put your money into. When you have a money saved for a purpose in future to come, or a discretionary funds, channeling them into bitcoin investment will bring about more profitability to you than you can ever imagine now. The bank system of saving has now become very obsolete and cannot fit into the modern day mode of savings or investment.

[Abu-Naim]

Money kept in banks have little to no interest most times, money kept in a safe or saving box remains the same afterwards, no matter the time duration. But you see if you start saving in bitcoin, despite that the market is volatile but there’s a higher probability that you’ll have a massive growth of value than a loss, I don’t even think there’s a loss unless you decide to sell when the market dips below your entry points.

Yes there will be minimal loss if you hold for a very long period of time, which means it is an investment that is not for people who are willing to get rich overnight.

This method of saving in Bitcoin you are trying to explain is called the DCA method, it allows you to keep buying Bitcoin at anytime and at any price whenever you have some money you are willing to save for long. The method will make Bitcoin investment and saving easier and it reduces the rate at which some users panic on the market price volatility because of you are using DCA method, you will definitely have good profit after a while due to the price differences at which you are buying your Bitcoin.

Instead of taking your money to the bank that will charge you for maintenance and also take your money for investment, it is better you be your own bank, save in your wallet and control your wealth.

[Marinnorris]

Nice topic, for my own opinion there is nothing bad from having your life saving on Bitcoin, assuming you were buying Bitcoin at the rate of $40, then your salary was $50 per month then you decided to be serving on Bitcoin 15 dollars per month, so if you calculate 15 × 12 you will see that you will have upto $180 per year, assuming you bought Bitcoin that worth $180 in 2014 you would have become a billionaire in dollars today, so is good to have a life saving on Bitcoin.

[PremiumcryptoHub]

You know how you normally save money in a safe, bank or saving box and you keep adding more money to it as time goes on…… yeah this could be practiced by newbies who wants to start getting involved in bitcoin, I know most of the old guys here, are already practicing this.
As soon as you have that extra money you’re not using that you’ll like to save, just put it in bitcoin and keep doing it regularly as possible.

One way to use BTC as savings for the future is that we can deposit Bitcoin on various bases and that is called a Bitcoin Savings Plan. You are right that, Instead of saving money in a bank or savings box, if we have extra money that is not being used, maybe we can use that money to invest in Bitcoin in a pinch. It is important to remember that building the initial stage does not require a large amount of money, but the investment base must be envisioned by arranging for discretionary income and an emergency fund. Also, check out the benefits you can enjoy by using Bitcoin as savings.

Automatic investment, as I mentioned earlier, allows you to automatically purchase Bitcoin regularly through the Bitcoin Savings Plan. Perhaps this is the most appropriate thing for everyone to do to maintain consistency in their Bitcoin investments.

Even the most common method is the cost average effect, indeed everyone needs to regularly purchase a certain amount of money to minimize the impact of market fluctuations when investing as a result, no matter how high or low the market is, it has no power to affect the investment journey.

Money kept in banks have little to no interest most times, money kept in a safe or saving box remains the same afterwards, no matter the time duration. But you see if you start saving in bitcoin, despite that the market is volatile but there’s a higher probability that you’ll have a massive growth of value than a loss, I don’t even think there’s a loss unless you decide to sell when the market dips below your entry points.

It is not advisable to keep collateral in a bank, even if you keep money in a safe or savings box, it will remain in the same condition, meaning its value may decrease further due to inflation. Even then many people may find it convenient to keep money in the bank because, because as far as I know, banks are insured by the FDIC. Also if everyone's investment strategy is different, then many people may want to choose Bitcoin investment because there is risk but the profit is maximum.

[WhoYouCantKill]

This point is a strong one. Operating Bitcoin as a long-term plan for saving could be a smart one, mostly coming from its history growth and independence from traditional banking. The key is having understanding of it's volatility, worth can swing quickly, so having patience and mindset of long-term is required. For those starting out, consistent little purchases is a wise way to build position with time without getting to worry much over changes in prices in the short-term.

[I_Anime]

Is better to plan properly i won’t advise anyone to go all in with their money into bitcoin you have to save some amount as form of fiat or dollar   , in case you want to take care of you basic needs and stuff, and also for your emergency funds there’s a reason why is called that . Emergency won’t tell you am coming it will just happen all of sudden an unplanned event and stuff .

But is far better to save your funds on bitcoin that to save it in a box , though bitcoin volatile but bitcoin tend to be bullish no matter what bitcoin started from as low as 0.008$ and you can’t expect it to go back that’s why is always bullish no matter the bear market .

[Mate2237]

Bitcoin works against inflation or does not have any effect on Bitcoin, on the other hand, inflation affects your savings and the amount of your savings decreases. Whether you get interest from your savings or not, you will still be affected by the effects of inflation. On the other hand, Bitcoin works against inflation and instead of reducing the value of your savings, it increases day by day.

If you keep saving in your personal vault, there is no doubt that you are going to lose the value of your assets due to the effects of inflation. Even if you want to be dependent on the bank and want to cut the effect of inflation by taking profits, I think you will not be able to profit like Bitcoin. In the long run, the bank will not be able to give you the same profit as Bitcoin. Even by saving in the bank, you are losing freedom over your money, there will be a risk of insecurity and the amount of personal wealth is being interfered with by the government. Saving in Bitcoin is more profitable, safe, and independent.

One good attribute of Bitcoin is that it's an edge against inflation because of its stable nature and so it always on the increase, so anyone who is thinking about beating inflation should use Bitcoin as a store of value. Bitcoin is the currency of the future and it which any one who is serious about beating the effects of inflation should give attention to for the safety of his or her financial benefits.


But before anyone should start saving money in Bitcoin such a person should have an investment plan which will be convenient for his financial level. Because people should not invest save everything that, they have in Bitcoin in the name of investment and fighting inflation.proper planning is needed so that anyone who is going into investing in Bitcoin will use an investment method which will be convenient for himself.

[Agbam]

Op nice post  but I would say I don't actualy agree with what you said, because no newbies will rather keep their money in a safe box than  invest  it into bitcoin the people who keeps their  money in safe box are those who are often not familiar or don't know anything about bitcoin. Also I will like to say there can only be a higher probability  of a massive growth in one's investment if the person applies good strategies to his or her long term growth in the bitcoin market .that's why newbies or not it's said to never invest your emergency funds so that's you won't be stranded and  then ouut of frustration you will now sell at a loss, I believe that bitcoin Investment is all about financial planing and starting small with an amount that you will be willling to lose is good but then always remember to prioritise on,not losing your funds than the money you are going to make in the Market .

bitcoin is an asset with grate potential and it's not a bank or a fintech it's an asset for long term investment which means you can't just sell anyhow because  of one thing or the other ,you have to plan things ahead and be prepared that's just it.

I don’t know if you know this but people prefer to keep using what they know best than what’s new, there’s plenty adage to back this up in our culture like the saying the Devil you know is better than the Angel u don’t. Newbies are those who just started showing interest, It’s quite difficult for a newbie to invest in bitcoin in the early stages, have you tried telling an elderly person about bitcoin or anything related to crypto. So newbies are people who are new and still getting used to the knowledge and providence of bitcoin most normally have savings in naira but don’t want to invest in bitcoin, the aim of my post is to encourage new people to invest in bitcoin as this will save their money against inflation and even give them more value in the long run.
There are more benefits in saving in bitcoin( i.e investing in bitcoin) than using fiat to save in local banks.