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

[Issa56]

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.

You are not suppose to leave the money which you will be using for daily transactions in bitcoin, you just have to leave that kind of money in banks, because if you decide to leave it in bitcoin, then you won’t just have choice than to be selling your bitcoin on a daily basis just to take care of things which you need.

Before you invest, make sure you have money which you will be using to take care of daily needs, the money which you are suppose to invest with is the amount which you won’t be using for long term. If you going to use the money with you in the next few weeks, then leave it in your bank, the charges isn’t so much that’s going to affect you so much.

[fuguebtc]

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

Exactly, putting money into Bitcoin means we are investing, not saving.

Bitcoin is a highly volatile asset, returns come with risk, making it unsuitable as a savings option. Meanwhile, banks are places to save and maintain liquidity, not places to seek high return.

I have noticed many people are confusing these two concept, or they try to compare them despite their incompatibility for their own purposes

If we want to compare investing in Bitcoin, we should compare it to investing in gold or stocks for a more objective perspective

[michellee]

I don't save much money in the bank account, but just for my daily life and needs. I lost my confident to save my money there just because I see the profit is long gone. I only see the charges to pay their services is too much high compare to the interest that I got.

I prefer to invests in Bitcoin and keeps in there. I feels that is safer because I can controls my own money and I don't have to pay the service fees to the banks.

Your plan are good so you can starts anytime you want. But you should determine how much money you use to invests in Bitcoin.

You need discipline to run your plan and that is the hardest thing you should do. Not many people can discipline with their plan to invest in Bitcoin.

[dunfida]

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

Exactly, putting money into Bitcoin means we are investing, not saving.

Bitcoin is a highly volatile asset, returns come with risk, making it unsuitable as a savings option. Meanwhile, banks are places to save and maintain liquidity, not places to seek high return.

I have noticed many people are confusing these two concept, or they try to compare them despite their incompatibility for their own purposes

If we want to compare investing in Bitcoin, we should compare it to investing in gold or stocks for a more objective perspective

But you should be that investing into the amount you can afford to lose and thats why you should be that still thinking up about on the risks rather than on going all in. It would be that too impossible that you wouldnt be able to distinguish when we do speak about the risks involved because we dont know on what the future holds but if we do speak about potential then we can definitely say that Bitcoin does have a bright future but of course just like been said that there's no guarantee when it comes into this manner and its always been recommended that you should be that still have that other options so that you wouldnt be able to just that solely depending into Bitcoin or crypto investment. We do know that more the better but of course you should be that only allocating a portion and not putting up that 100% on which we know that this is very risky.

In order for you to fight inflation then you should be that making use of those savings sitting on your bank account to be used or should be rolled specially on making up some business or investment.

[Ishicryptic]

Of what use is keeping your savings in Bitcoin when you will spend them within a short period of time, beside price fluctuates which automatically means the value per coin will depreciate before the original need for that coin arises. It's best to withdraw all savings and hold them as paper money instead to avoid all bank charges. I will rather advise keeping long term investment in Bitcoin where it yields huge returns over time than saving few coins that will spent over a short period of time.

There is absolutely no reason to save your money in Bitcoin that you intend to spend within one year because it is a volatile currency and asset, perhaps by the time you will need it to spend it might have dipped which will be a loss for you. Proper financial management is important for everybody that earns money, you need to have budget and from it you will determine how much to save on the long and short term. For your long term savings that you don't plan to spend for many years it is wise to buy Bitcoin with it, for short term savings you can trade your fiat to a stablecoins or leave it in the bank. If you are worried about bank charges then you can hold the money in physical cash that won't attract any unnecessary bank charges in your hands.

[Danica22]

I don't save much money in the bank account, but just for my daily life and needs. I lost my confident to save my money there just because I see the profit is long gone. I only see the charges to pay their services is too much high compare to the interest that I got.

I prefer to invests in Bitcoin and keeps in there. I feels that is safer because I can controls my own money and I don't have to pay the service fees to the banks.

Most of us have lost faith in banks, and that is why we chose bitcoin. However, we need to acknowledge that the main reason we choose Bitcoin is because of its enormous profit potential, not just because we have complete control over our money. Service fees are not a reason either, as they are insignificant compared to the services the bank provides us
Banks are also businesses. They provide financial services to us, so it is normal for them to charge fees.

Additionally, Im not sure if you have any emergency fund because you did not mention it But I think that in addition to money for daily need, an emergency fund should also be deposited in a bank instead of bitcoin or any other asset.

[Pandu Geddon]

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.

You may need to distinguish between saving money and investing. You can still keep money in the bank for your needs, especially if in your country, few people accept Bitcoin payments. Keeping money in the bank can be for savings or emergency funds. If you keep it in Bitcoin, treat it as an investment. Using Bitcoin is possible, but in the short term, of course, you should not expect large profits. If the issue is the many fees charged by the bank, the information regarding the deductions should have been communicated when the bank account was initially opened.

[Hewlet]

I don't save much money in the bank account, but just for my daily life and needs. I lost my confident to save my money there just because I see the profit is long gone. I only see the charges to pay their services is too much high compare to the interest that I got.

No one keeps money in the bank for the sake of the interest that comes with keeping money in the bank. overtime, we have all comes to terms with the fact that the bank is just a temporary place one keeps his money either for the sake of spending or because he intends moving the money from one point to another.  the right word one can use while keeping his money in the bank can even be that you are storing your money in the bank because at the end of time, nothing much actually adds to your money far beyond what it has been like.

On a normal even with the way bitcoin can be volatile sometimes, it is not even logical to compare saving in the bank to actually investing in bitcoin because in terms of profitability, there is no way we can say that fiat is anywhere at the level of bitcoin.

[hyudien]

Now banks are no longer a viable place to save money in the long run, they are no longer trusted, in terms of cutting service fees, they have hurt customers too much.
What happened to you OP is almost the same as me, I used to have savings in the bank, just because I wanted to keep my money intact, because it was 'cold money', and I didn't check it, (my mistake) and boom! when I checked the savings, yes I was very disappointed. From there I learned to only save for short-term needs and divert 'cold funds' to assets, until I discovered bitcoin.

[Bitcoin_people]

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.

You may need to distinguish between saving money and investing. You can still keep money in the bank for your needs, especially if in your country, few people accept Bitcoin payments. Keeping money in the bank can be for savings or emergency funds. If you keep it in Bitcoin, treat it as an investment. Using Bitcoin is possible, but in the short term, of course, you should not expect large profits. If the issue is the many fees charged by the bank, the information regarding the deductions should have been communicated when the bank account was initially opened.

Yes, of course I need to keep some emergency funds and invest the rest in Bitcoin. I am very happy to get your advice. Of course, I want to invest in Bitcoin for the long term. Since currently it is not very safe for me to keep money in the bank in my country, I will save some of my money and buy the rest in Bitcoin. But I want to wait for some time since the market is still at a high level and we know that the Bitcoin market will fall further according to the cycle. Accordingly, I want to plan to invest for the long term and buy Bitcoin from deep and keep them away. Although I have already made such a plan to invest using the DCA method, I think it may benefit me a lot.

[Accardo]

But I want to wait for some time since the market is still at a high level and we know that the Bitcoin market will fall further according to the cycle. Accordingly, I want to plan to invest for the long term and buy Bitcoin from deep and keep them away. Although I have already made such a plan to invest using the DCA method, I think it may benefit me a lot.

While you wait, instead of holding money in the bank, buy stable coins, then track the market for however long is suitable before you shift them into bitcoin for profits. Bank is a common place for monthly charges, which isn't great to customers, even worse for a bitcoiner, don't let them beat you into trusting their service charges.