Savings in bitcoin not NGN(Nigeria naira)

[Gozie51]

See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

No doubt or gain saying that bitcoin savings is better than naira but the problem be say if you lack money, you go still run back to what you have. You won't have btc and then you have hospital bill to pay and you are going to borrow money wey people no even still borrow you. If to say people dey comfortable and can really save money without touching it, surely btc na best choice because inflation no go reduce your value of it when you decide to cash it out.

To put money in btc as investment is a sure plug especially if you can catch the low because when the bull hit am, it will likely give you x10 and more which can never be achieved with fiat. For retirees, Omo no be all of them go like use Bitcoin oo. We know say na aged people and their way with bitcoin is still shaking.

[Tonimez]

See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

No doubt or gain saying that bitcoin savings is better than naira but the problem be say if you lack money, you go still run back to what you have. You won't have btc and then you have hospital bill to pay and you are going to borrow money wey people no even still borrow you. If to say people dey comfortable and can really save money without touching it, surely btc na best choice because inflation no go reduce your value of it when you decide to cash it out.

To put money in btc as investment is a sure plug especially if you can catch the low because when the bull hit am, it will likely give you x10 and more which can never be achieved with fiat. For retirees, Omo no be all of them go like use Bitcoin oo. We know say na aged people and their way with bitcoin is still shaking.

The Idea is saving money in bitcoin should be streamlined to differentiate between investment and ordinary savings. Investing in bitcoin is way better and promising especially when you invest with the mindset of holding it for a very long time which is the most trusted way to make gain from bitcoin. However, saving money for expenses in bitcoin is a very bad decision because you may end up withdrawing less than what you have saved when you want to make use of the money.

Bitcoin is volatile and should be treated as such by only investing in it to hold for long term and not just saving all your money there including your money for daily expenses. If you make that mistake, you will regret it because when you need the money might be when bitcoin is experiencing its dip.

[fredericktaylor]

See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

No doubt or gain saying that bitcoin savings is better than naira but the problem be say if you lack money, you go still run back to what you have. You won't have btc and then you have hospital bill to pay and you are going to borrow money wey people no even still borrow you. If to say people dey comfortable and can really save money without touching it, surely btc na best choice because inflation no go reduce your value of it when you decide to cash it out.

To put money in btc as investment is a sure plug especially if you can catch the low because when the bull hit am, it will likely give you x10 and more which can never be achieved with fiat. For retirees, Omo no be all of them go like use Bitcoin oo. We know say na aged people and their way with bitcoin is still shaking.

The Idea is saving money in bitcoin should be streamlined to differentiate between investment and ordinary savings. Investing in bitcoin is way better and promising especially when you invest with the mindset of holding it for a very long time which is the most trusted way to make gain from bitcoin. However, saving money for expenses in bitcoin is a very bad decision because you may end up withdrawing less than what you have saved when you want to make use of the money.

Bitcoin is volatile and should be treated as such by only investing in it to hold for long term and not just saving all your money there including your money for daily expenses. If you make that mistake, you will regret it because when you need the money might be when bitcoin is experiencing its dip.

Yes, it is very wise to buy Bitcoin with prudent money and long-term planning. It is not right to keep money in the bank because inflation is increasing over time, buying Bitcoin and holding it for the long term, we can protect ourselves from inflation and expect long-term profits. The use of Bitcoin is gradually increasing all over the world and will huge in the future, the general public and small and big businessmen are buying Bitcoin in large quantities and holding it for the future because Bitcoin digital gold of the future.

[Dr.Bitcoin_Strange]

          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

I think a similar topic has been discussed before and from what I said then, people always have different goals when they want to save and they also have their duration for the savings and again, savings is not the same thing as investment, when you want to save, it could just be for a short period of time so that you can use the money for something but when you want to invest for a long time, then you can think of Bitcoin.

[OsaiEmma]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

This is more like investing in Bitcoin, cause when u just put it as savings it's as if ur planning to use at some point for something, but if u take it as an investment and know that yes it will grow at become ur retirement package, u will feel more at ease knowing ur future is secured, so I'd say investment, but also treating it as a means to save it's not that bad but as u mentioned earlier, it's price fluctuates and unless ur not planning on using it ASAP, it's ok, that's why I said u should treat it as an investment tool instead of as a saving box

[Mayor of ogba]

Saving in Bitcoin has always been the best option for Nigerians because the Nigerian Naira always loses  its purchasing power in the passage of time, which makes it more difficult for Nigerians to buy meaning thing in the future with the money they saved in their personal bank accounts. With the new tax policy taking effect in January, I believe more Nigerians will learn how to save in Bitcoin so they can boycott paying tax to the government that didn't care about the well being of the citizens.

[SmartCharpa]

So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

Anybody who put his or her money into bitcoin is not saving, that person is consider as investor. Bitcoin is very velotile to the extent one can’t just have money and think of putting it in bitcoin and not with the mindset of investment. So this post is all about investment, reason is that if you already put your money into bitcoin that is consider as an investment.

since that money can’t be spend the way you can touch your fiat anytime you want. Anytime you are in loss you must leave that investment there, if you touch it you’ll be in lose. So anyone who have money put in bitcoin isn’t savings that is invesmen.

In my opinion, anyone who chooses to invest their money instead of our local bank can be considered as a savings, but you are not saving in your local currency, which will not increase in value regardless of how many years you save it in your account, this is what differentiates investment from savings. if you invest in Bitcoin, you may not see exactly the same amount you invested by the end of the year, it may double 2x or more.

However, there are still many people out there who are saving for the future in naira, some people are doing this due to a lack of knowledge, while some do not believe in anything like online investment, so some people are still saving money they are not going to use anytime soon, but an individual who understands how Bitcoin works would rather save in Bitcoin than naira that has lose value.

[Ayebabara]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

Well na the right option and choice to make but as e dey easy to talk here no be so e easy to do too. Also many 5up till now sef never still fully get trust on Bitcoin and the reason why people still dey fear even the ones wey dey preach am sometimes for here  😂 but the records and stats all show it that Bitcoin despite all the dip and bear market has continually grown no matter the weather so keeping money for Bitcoin better pass naira well well.

Naira dey fall almost every day if you dey save your money for naira you go dey lose oooo,e better make you save for Bitcoin oooo Bitcoin no dey ever fail or drop even if e drop e no be like naira wey dey go down at once . To do any investment for naira Na big risk ooo

[Samlucky O]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

This your thread reminds me of one thread I creat some time ago, the name na Bitcoin the best place for retirement savings na just sesame idea I been share, say if person dey keep him fund for Bitcoin steady, say e fit use that Money as him retirement savings for future because we all no say the money we keep for Bitcoin and the one wey dey bank no be mate. Fiat dey depreciate while Bitcoin dey appreciate as time goes on, na just our choice to either invest for Bitcoin or allow de money depreciate for bank. Any decisions we make naim go determine our future tomorrow, so make we dey wise before e dey too late.

[ZeroVinsonN]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

At this point you are no longer just saving but are already investing in bitcoin, and yes that's something we all should strive to do because with how inflation is right now the naira doesn't look like it will be looking good anytime soon so best to save/invest in something with a better chance of turning a profit and bitcoin is the best alternative to serve that purpose for us, it's true that bitcoin's price fluctuates and can go down sometimes but just think of that as bitcoin being hit by inflation, you already know it will recover faster than the naira would so at the end of the day bitcoin is still better.

[Achalugo BTC]

It wasn’t easy to get in the year 2010 and even 2011 unless you could mine it . But over the years even at round 2018 , if anyone had started investing then they would have realize so much value in Bitcoin by now , it’s never too late to invest either but while you’re investing make sure you have a backup / emergency fund that you can always fall back on whenever u need to spend  urgently (it’s the main reason I’m writing this). This will be of help without dipping your hands into your investments because it could be in a Dip(for example now) and withdrawing could result  in some loss .

Exactly, for person to start to invest in Bitcoin, make them get other options like having other places that can be generating income for them wey them fit use to sort out for themselves, that is to take care of themselves by providing the important things and also to sort themselves out when emergency arises, so that they go fit leave their investment for long term but if them no get any other options but solely depend on Bitcoin investment, them no fit dey enjoy am which go dey make them to go dey touch am small small and to dey touch am like that, na them go dey at loss, especially now wey e still dey bear season.
So, while e good to save for Bitcoin, e also good make person dey get where money go dey come out from for Naira as well, as e go really dey of help as well, which go make person plans a successful one.

[AmaGold70]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

It is no doubt that naira can't be compared to Bitcoin but you possibly can't save all your money in Bitcoin you know that, and also saving money in Bitcoin isn't saving but now an investment that would take years for it to give you the profit that banks can't give you. For my retirement sake I have Bitcoin investment and I also have money in my savings account because everything shouldn't be in Bitcoin especially when you have daily needs or bills to settle, investment in Bitcoin doesn't need disturb and you should be able to differentiate between saving and investing.

[Marykeller]

In a country like ours, where the economy is not looking good, Nigerians have learned to invest in assets(lands, crypto, stocks) a long time ago. Only a few(old people) are still saving their money in the banks, while the rest are choosing investment over saving money in the banks. And I feel that Nigerians are enjoying/liking the profits they have been getting since they chose to invest more, than having their money saved in the banks that will lose value over time. Although we are not forgetting to save for an emergency. That I believe will be losing value, while our investment in crypto, land, and stock will be increasing in value as the year goes on.

[odunybiz]

Almost everyone has saving account, where the little there cut out of their salary oes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

Well na the right option and choice to make but as e dey easy to talk here no be so e easy to do too. Also many 5up till now sef never still fully get trust on Bitcoin and the reason why people still dey fear even the ones wey dey preach am sometimes for here  😂 but the records and stats all show it that Bitcoin despite all the dip and bear market has continually grown no matter the weather so keeping money for Bitcoin better pass naira well well.

Even leaving trust apart, how many Nigerians save nowadays? Most of this civil servant you used as example always struggled to balance life well with their salary. Someone with just normal savings can't easily invest in Bitcoin because he/she may end up selling at lose when he/she needs money. But if you are someone that run a fixed deposit, it is preferable for you to hold Bitcoin than making your money sit in back with little interest.

[Zigabel]

Saving in Bitcoin is better than in Naira and many will agree to that because of  the supposed value it does gain resulting from volatility over time. But if you are to look at it according to accessibility regionally, Naira has got its own advantage but again just like usual, the disadvantages cancels out a whole lot thereby still keeping Bitcoin ahead and at choice.  Most crypto enthusiast is always go for Bitcoin knowing how much of their expectations will be met by keeping  their assets in Bitcoin for the longest of times, but in Naira, the case is and will be far more too different.

[Somto9Light]

Well your suggestions is really a nice one I must say, but I'm sure that everyone have reasons for making savings which thier initial plan might be to use the money to start up a business in the near future while some might intend to use it few months time so don't you think channelling their savings to bitcoin when they are not saving for long term is actually a bad idea? For me I can only give this suggestion to those that intend to save for a longer period and not those whose plan is just to save for some couple of months.

[Onyeeze]

Saving our money with bitcoin is good but the thing wey dey tire be say, bitcoin price no dey stable, the price will increase today and tomorrow the price will fall, so the thing come dey put fear for my body say bitcoin go fall anything soon, even now e get one speculation wey go round say bitcoin price go fall well well

People say for 2026 the price of Bitcoin go fall wella to the extent that the price go fall reach 20k, so if the price go fall reach 20k, I know see why we go dey buy Bitcoin now wey e dey cost

[IceLincoln]

Almost everyone has saving account, where the little there cut out of their salary goes for emergency or saving to buy something.Most banks add interest overtime when you save money with them. But with this too the interest added are very little and over time it amount to nothing,plus inflation decreasing the value of naira every day,just take for example a Nigerian civil servant working and saving for retirement, only to retire but the money isn't worth much due to inflation rate.
          So I suggest saving in bitcoin is better than saving in NGN(Nigeria naira), thought bitcoin price drop sometimes but it always picks back up and recover overtime. See the price of Bitcoin over the years, you would be amaze , and if you saved in Bitcoin since 2010 till now you would have a lot compared to have been saving in naira.

Bitcoin is a very lucrative asset and it’s good to save or invest in but you have to understand it before you start saving in it. If you’re going to save in bitcoin you must know it should be for a long term of 4-10 years, then again you must have the right mindset to hold through the dips cos bitcoin is a volatile asset, prices increase and falls if you’re going in to save. I think the right word to say is INVEST when it comes to bitcoin. Invest like you’re saving for a long term of.

[Princesslelee96]

Saving in bitcoin isn’t like that of the banking system, bitcoin is an investment and not a savings account that you can easily withdraw and deposit anytime the need arises, so many individuals already have up to like 10 to 20 million in there bank account with zero or little interest but imagine investing such amount in bitcoin and store for like 5years despite the volatility it still can never be compared to that of a banking system, also make sure to reserve your basic funds aside I assure you, you will sure say kudos to yourself

[Lembo69]

The reason why saving in Bitcoin is better than the Nigerian Naira because the value of the Naira is decreasing day by day. Currently, the value of the Naira has become worthless. The amount of Naira is increasing day by day. A government employee and after getting a pension, he does not get any benefit even after saving for the currency all his life. So if they save or invest in Bitcoin, the currency will be profitable and at the end of the Bitcoin cycle they will also get a huge amount of profit. I always think that investing in Bitcoin will be the work of a wise person. And it will be a better work than depositing Naira in the bank. Because Bitcoin has already shown us its maximum value. And Bitcoin is playing a role in reducing inflation