It is better to invest in Bitcoin rather than keeping fiat currency in the bank.

[Nahl]

We have been discuss about this before with plenty that saving fiat for long term into the bank will not profitable because for year your fiat value will be decrease following the inflation that's why bitcoin could being an the alternative if people want to invest for long term but because we were live in the countries who still not fully support to make bitcoin as the currency then having fiat too is necessary because for daily transaction almost people in the world still using fiat but if we talking about investment i think convert the fiat to bitcoin and holding them for years can ensure your asset will never be decrease from inflation

[JeffBrad12]

Any money sitting without a good yield or potential for growth is a wasted money.In the case of you, you're wasting your time and money just letting it sit in the bank. Just putting it in bitcoin you already beat inflation on the long term and don't get charged a dime even if you let it sit in your wallet for a decade.
If i were you i'd make the money do the work for me. Let it grow and become bigger somewhere else than letting it sit in the bank...

[fuguebtc]

It's 3 years, 11 months that you have registered as a member in this forum and you are already a Hero Member. Saying that you do keep your savings in a bank is something a newbie should do and not you because this has been said in the forum times without number that fiat depreciates in value overtime and bitcoin increases in value therefore, you should put your savings into bitcoin because it's an asset that gives you full control over your funds. No one can touch your bitcoin in your self custody wallet.

I was also quite surprised that this came from a member who has been active on the forum for a long time, because we've discussed this issue millions of times over the years. I even believe that the OP has previously participated in many similar discussions and offered advice to others. But surprisingly, he still kept a large sum of money in the bank and only now realized it was a mistake.

Of course, even a beginner knows the answer is to invest in bitcoin. But in my opinion, we should not invest all our money in Bitcoin. Instead, we should still keep a portion in the bank for emergencies because bitcoin is very volatile in the short term.

[SamReomo]

So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.

Yes, keeping money in bank will make it lose its value overtime because of inflation, instead of that you might consider investing in Bitcoin using either DCA strategy or DIP buying strategy.

Those who've done investing in Bitcoin using DCA method have made enough profit in long run than those who've kept their money in bank. Even the saving accounts that give some APR per year can't help when it comes to capital growth.

Investing in Bitcoin has even allowed people to make way higher profits than those who invested in gold or silver and thus I believe choosing Bitcoin over fiat is a better decision.

[Swordsoffreedom]

Investing in Bitcoin has even allowed people to make way higher profits than those who invested in gold or silver and thus I believe choosing Bitcoin over fiat is a better decision.

This is why we chose Bitcoin. However, everything has a price. Higher returns come with higher risks, and vice versa.

In addition, although investing in gold or traditional assets does not yield as high returns as Bitcoin or cryptocurrencies. But they are still much better than saving in a bank. Therefore, if someone does not want to invest in Bitcoin because of its high volatility. They should invest in gold or silver, and absolutely should not leave money in the bank for too long.

[Mr_Brilliant$]

Recently, I have kept some of my savings in a bank account, although I do not get much profit from it, but after a few days, various
So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good? Share your experiences.

The charges from the banks can be frustrating. The government will keep seeking ways to tax the people through these bank charges.  That is why keeping a large sum of money in fiat is not a financially sound decision. It is better to keep only the money that you want to use for your needs or emergency funds in fiat. The inflation rate is higher than the profits from bank savings and fixed deposit accounts, so what's the need for leaving money in fiat if you don't have an urgent need for it? Bitcoin has been known as a hedge against fiat currency devaluation.

And this thing is something most of us are slowly waking up to..  Bank charges keep increasing, talking of maintenance fees, transfer charges, and all those silly hidden deductions, your money is quietly reducing even when you are not touching it at all.

Keeping too much money in fiat does not really make any sense long term..  Talking of Inflation, it is eating the value every single day, while savings accounts and fixed deposits claim they’re paying something in return which is peanuts.. even the interest you earn can not even meet up with inflation at all..

[Strongkored]

So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good? Share your experiences.

Just divide it into several parts, some percentage in fiat and put it in the bank, and some percentage in Bitcoin as an investment, because although holding Bitcoin is better, the fiat portion still dominates in our usage for many transactions since fiat is still the primary form accepted.

[Smack That Ace]

And this thing is something most of us are slowly waking up to..  Bank charges keep increasing, talking of maintenance fees, transfer charges, and all those silly hidden deductions, your money is quietly reducing even when you are not touching it at all.

Keeping too much money in fiat does not really make any sense long term..  Talking of Inflation, it is eating the value every single day, while savings accounts and fixed deposits claim they’re paying something in return which is peanuts.. even the interest you earn can not even meet up with inflation at all..

Can you tell me how much the bank charges you in fees each year when you deposit your money in a bank? $5, $10, or $1000 per year?

To be fair, bank fees are negligible and using them as a reason not to deposit money in a bank is unreasonable. The real problem we will face when keeping fiat in the bank is inflation, its devaluation. They are eroding the value of our money every day. Meanwhile, if we use that money to invest in Bitcoin, business or simply store it as a hedge against risk such as gold, we can preserve and increase the value of our asset.

In short, depositing a large sum of money in a bank for a long period is a bad idea because our money will lose value over time. Conversely, investing in Bitcoin offer us the opportunity to increase our wealth, and although there are risk but it is worth the trade
off.

[YOSHIE]

It is better to invest in Bitcoin rather than keeping fiat currency in the bank.

Bitcoin and gold are another of the best arguments and speculations in the future, if little to think about as long-term investment assets.

We can see and must understand the 16 year growth of Bitcoin from the price of $1 to $100k. This is speculation that is undeniable and unthinkable for many people, even though gold is relatively slow, it is also the center of attention of many groups.

We understand that banks do not produce anything, if you look at the current economic situation and the growth of technology, banks can only be used for transactions, not as an investment tool, yes Bitcoin is the best idea.

[LogitechMouse]

Today, I went into my bank account and checked the statement and saw that a lot of money has been deducted in various charges in just a few days from the end of December to the present.

I wonder how much money has been deducted on your account in just a short amount of time? I mean I'm aware that some or all of the banks are deducting a portion of your total balance as "service fees" as so they called.

Seeing this, I was really disappointed and started thinking that if I had deposited my savings in Bitcoin instead of keeping them in the bank, I would have benefited a lot. If I had invested in Bitcoin, I would not have had to pay any charges here, but I could have benefited a lot from this, but unfortunately, I think I made a big mistake by keeping my savings in the bank.
So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good? Share your experiences.
---

Let's not forget that this can go either way as well.

While you might make money in the long run just by holding Bitcoin, always remember that there might be a time where your Bitcoin holding might lose it's value at some point because of volatility. Your $10000 in your bank might lose some value due to inflation, but when you invest it into Bitcoin, there's a chance that it might lose 20% or even more not because of inflation, but because of volatility. Now if you're ready for it then there's no problem here, but there are some who can't take it hence they prefer just putting it on a bank. They prefer the safer route instead of the more riskier one, and I can't blame them.

In the long run, you really can make more money if you invested into Bitcoin rather than putting it on a bank, but make sure that you're ready when you see your portfolio losing 20-30% or even more. Bank is for safety, Bitcoin is for making more money.

[LOVER BOY 422]

Recently, I have kept some of my savings in a bank account, although I do not get much profit from it, but after a few days, various charges are deducted. Today, I went into my bank account and checked the statement and saw that a lot of money has been deducted in various charges in just a few days from the end of December to the present. Seeing this, I was really disappointed and started thinking that if I had deposited my savings in Bitcoin instead of keeping them in the bank, I would have benefited a lot. If I had invested in Bitcoin, I would not have had to pay any charges here, but I could have benefited a lot from this, but unfortunately, I think I made a big mistake by keeping my savings in the bank.
So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good? Share your experiences.

I support you, instead of me to keep my savings in the bank account I prefer to use it to invest in Bitcoin investment, Because Bitcoin investment if a future investment that can help you ,at a time the money you use to invest in to Bitcoin will even bring more profit to you in future than keep it in the bank where the money will be stagnant without going high ,even if it go high you can't compared it ,when it's Bitcoin investment where you will be enjoying the outcome of the Bitcoin.

[Akbarkoe]

So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation. That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank, anyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good? Share your experiences.

It will be a good plan if you maintain an emergency fund of a minimum of 3 months of cash expenses. You can have it in cash at home or in the bank. If the bank charges you, you can consider it a cost like insurance. You have to have that minimum money for security, not to invest. Putting everything you have, and even more so if you don't have much, in Bitcoin, has its risks, such as needing money when there is a big market downturn.

Of course it is the right thing to do, only an arrogant person would skip the emergency fund for the next few months of life, and the emergency fund must be cash or fiat, not in the form of assets or anything else to make it easy to use.
It seems like he doesn't understand financial management so he overthinks the allocation of his money.

[Stablexcoin]

You should have a rather expected answer flr this question because it has being discussed severally here in this forum. Of course, Bitcoin has better advantages over fiat as a store of value and provide better privacy over fiat.

There are a good number of reasons why it's preferable to invest in Bitcoin, though it's volatility could pose a threat to newbies but that's it's system right? Over time, you wouldn't definitely make profits no matter how little it is over saving up in fiat and watch your assets lose its value.

[FanEagle]

This is a very sensitive topic and you need to be careful about it. Bitcoin is something that has ups and downs and if you do invest at the down then you can wait and make a profit when it goes up.

But if you invest at the top, then you will lose a lot when it is going down. Like people who bought at ATH, lost so much already now that is lower. This is why no need to actually be worried about it and think this as one answer thing, there isn't a correct answer. Depends on when you buy it.

[EFS]

It's normal for banks to charge you fees since you use them. You're receiving a service from them and in return they make certain deductions. If you had invested in Bitcoin, you wouldn't have had to pay such fees. In my opinion, if you're investing, buy Bitcoin and keep the money in your bank account to a minimum. Don't keep money there for investment purposes. Even if you open a time deposit account and earn high interest, your money can still lose value against inflation.

[cryptomaniac_xxx]

This is a very sensitive topic and you need to be careful about it. Bitcoin is something that has ups and downs and if you do invest at the down then you can wait and make a profit when it goes up.

But if you invest at the top, then you will lose a lot when it is going down. Like people who bought at ATH, lost so much already now that is lower. This is why no need to actually be worried about it and think this as one answer thing, there isn't a correct answer. Depends on when you buy it.

I think everyone by now knows the risk involving putting money to Bitcoin, this has been told many times already. But still we as investors or even short term speculators are willing to take that big risk instead on putting our money in the banks.

We should should know when to invest and when to take profit. For those who don't know, then maybe tell will learn it the hard way. Like what you said, those who bought on top then they will have to wait unless they want to exit in a lose in which that is a bad strategy.

[m2017]

Today, I went into my bank account and checked the statement and saw that a lot of money has been deducted in various charges in just a few days from the end of December to the present.

It's becoming a trend for banks to unilaterally change their terms of service and impose additional services for which they charge fees.

Banks are becoming increasingly brazen.

This is another reason to think about whether you want to remain their client.

If I had invested in Bitcoin, I would not have had to pay any charges here,

Actually, this isn't entirely true, as some countries already require taxes on profits from bitcoin. You'll also pay a hidden "commission" when converting from bitcoin to fiat at any exchanger (service provider's profit).

So I think that keeping money in the bank is not very profitable, but there is a high possibility of further loss due to inflation.

You've been a bitcointalk member for three years and reached the rank of Hero Member, but only now have you realized that keeping your money in the bank is a very bad idea?

Further losses due to inflation also occur in the bank, as the interest charged on bank deposits only partially offsets inflation.

That is why it is much more profitable to invest in Bitcoin instead of keeping money in the bank,

This is not a comparable comparison, because bank deposits don't have the same profitability as bitcoin.

 nyway, the amount of money I have left in the bank, when the price of Bitcoin starts to fall, I will buy Bitcoin with my savings.
Will my plan be good?

Take a look at what's happening in the cryptomarket now. If this trend continues, you'll have a long wait for the "right time to invest in bitcoin".

[Out of mind]

If you keep money in a bank account, it will not give you any profit at all, but rather it will deduct various types of charges, in which case you will see more losses due to inflation at different times. I can see that a large amount of money has been deducted from you in a very short period of time, so I do not support keeping money in the bank. Although I think that keeping money in the bank is beneficial in many places, but the possibility of loss is high here, moreover, you cannot expect profit according to the savings that you keep for a long time. So if you invest in Bitcoin and gold, you can make good profits in the long run, but if you invest in Bitcoin, you have to be patient, you may face losses due to market instability. I think keeping savings in the bank is not a good place, but if you want, you can invest in gold and Bitcoin, it will give you financial freedom.

[Juicyhome]

If you keep money in a bank account, it will not give you any profit at all, but rather it will deduct various types of charges, in which case you will see more losses due to inflation at different times. I can see that a large amount of money has been deducted from you in a very short period of time, so I do not support keeping money in the bank. Although I think that keeping money in the bank is beneficial in many places, but the possibility of loss is high here, moreover, you cannot expect profit according to the savings that you keep for a long time. So if you invest in Bitcoin and gold, you can make good profits in the long run, but if you invest in Bitcoin, you have to be patient, you may face losses due to market instability. I think keeping savings in the bank is not a good place, but if you want, you can invest in gold and Bitcoin, it will give you financial freedom.

You're right, inflation and bank hidden charges without your notice will reduce your money in the bank, when you save in the bank, the bank gain more by giving our your money to customers for loan while they keep deducting service charges from your wallet. The only money I advise you keep in your bank is emergency money or your monthly expenses.

I want to correct am impression here, you don't save money in Bitcoin, you invest money in Bitcoin, Bitcoin is not a bank to save money, it's where you invest your money. Because it's a long term investment, is not a place where your save money you will need tomorrow or in few months, you will regret it. It's a place where you invest your money, that's why we advised you don't invest your  business capital in Bitcoin, you invest your profit and hold for very long time for you to benefit from the investment. That's the difference