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

[Minor Miner]

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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.

Your idea does seem brilliant, as it can at least preserve the value of your money and potentially generate a small profit since stablecoins don't fluctuate as much as other coins. However, compared to storing your money in a bank, it's clearly much better to temporarily store it in a personal wallet in stablecoins before converting it back to Bitcoin. However, if the timing is right, I think simply converting it directly to Bitcoin is also fine, as stablecoins are also only temporarily chosen.

Although USDC and USDT are crypto, they are pegged to the USD, so they are essentially no different from fiat. Holding them is not necessarily safer than holding fiat, as you might think.

Stablecoins are centralized, and even if you keep them in a personal wallet, they can still freeze your fund. The risk is even greater if you store it on centralized exchange, and as we all know, CEX carry significant risks. They are no safer than bank

There is nothing wrong with holding stablecoins, and that is what most investors do before investing in bitcoin. But do not think they are any safer than fiat and banks.

[BlackBaron]

Of course, btc is an investment and clearly has a good future. But keep in mind, don’t put all your eggs in one basket. It’s better to leave some extra cash in your bank in case of emergencies. Also, if the price falls, the losses might be bigger compared to your expenses. But the good thing is, you can still recover as long as you don’t sell at a lower price than when you bought it, because eventually the price will go up again. Unlike those expenses, that money won’t come back no matter how long you keep your money in the bank.

This is clearly a must. We shouldn't go all-in on a single asset, as the risk is very high, and we also need to maintain an emergency fund for unexpected events. This is often the mistake made by those new to the crypto space: they don't set aside an emergency fund, which ultimately ruins their entire investment if something bad happens.

We also need to be prepared to hold for a very long time. Bitcoin is highly volatile, and it's possible that when we buy, we'll have to hold for a long time because the market is also in a sharp decline. Therefore, DCA is also recommended.

[macson]

When people save their money in the bank, they not only suffer from unreasonable fees, but they also lose value on their money due to inflation over time, causing the purchasing power of that money to continuously decline, and they also lose full control over their money.

That is why saving money in the bank is not recommended for preserving wealth in the long term. On the other hand, bitcoin becomes the best option to preserve wealth in the long term because it offers a hedge against currency devaluation and people have full control over their assets.

[Accardo]

There is nothing wrong with holding stablecoins, and that is what most investors do before investing in bitcoin. But do not think they are any safer than fiat and banks.

Stable is pegged at 1 USD and drops by a range of 0.01% to 0.04% a small fraction of the whole, then normalizes at 0.99 at most. The benefit of the digital fiat is to escape steady deductions, like Op complained, lost value on stable coin isn't bothersome. Except for the centralized nature of stable it's fine to hold around for months or even few years.

[irhact]

If you savings money in a bank account, you will not gets much profit. Your profit will be deducted by paying much costs. Unless you saving in a large amount, you will not get much profits. No more paying costs if you keep Bitcoin in your wallets while you can expects to make a profit in the future.

We realizes that banks is not a good place to save money. But it is just an option  because many people still rely on the banks to save their money.

Even for people that are putting a lot of money in the bank, they still don't get as much profit as they would have gotten if they invested in Bitcoin. Banks are not the right place to keep your money as an investment but they can be a place you can keep your money for saving for those with fiat because there are no other places to hold yet but if you want to keep your money in a place that it will keep on increasing then you have to go into investment and one of the best way to get into investing is by buying Bitcoin. When you buy Bitcoin you own your investment but when you invest with some other companies that does investment for people they can lie to you or cheat you in your investment but you as the one holding your Bitcoin you own all the keys to what you will do because you can decide when you will sell or if you keep on holding.

[skarais]

In recent years, I have actually come to believe that it is better to invest in bitcoin than to invest in gold. This statement is not without reason, although some of my colleagues downplay it and say gold is better, but they basically forget about the percentage increase in bitcoin since the last time it dropped at $15k at 2022. Bitcoin has risen several fold since then and hit its all-time high of $126k a few months ago, but some people still deny the fact that bitcoin is better than gold.

[Gozie51]

Will my plan be good? Share your experiences.

I have the same experience like you with bank accounts. The banking system is built with different levels of charges on holder's account by compulsion. Depending on the account someone is operating, service bill is charged on those different accounts and not just that, there are other charges that look minor but they are not actually when you calculate them on a long term. Keeping money in bitcoin is better because you have opportunity of increasing the worth or value of it but inflation will reduce the value of your fiat.

[_BlackStar]

I've never considered keeping fiat currency beyond emergency funds – so I'm not willing to invest in banks or anything like that. The value of fiat currency will inevitably decrease due to inflation – whereas investing this fiat currency in value-growing assets such as Bitcoin and gold will clearly yield profits. I invest in Bitcoin and gold – some altcoin are also a risky option, but if this is for the long term, then the first two assets I mentioned are the most sensible.

Storing fiat currency in a bank doesn't give you a decent return at all – not that there's no return if it's a deposit, but it might not be worth it. It's better to invest in gold if you think Bitcoin is risky – but as far as we know, Bitcoin is one of the investment assets that can provide returns for its investors.

[Bd officer]

Your plan is not bad. Investing in Bitcoin will be more profitable than keeping money in a bank. Keeping money in the bank will cause your money to lose value due to inflation. But if you invest in Bitcoin and hold for a long time then you can definitely make several times more profit than keeping money in the bank but you have to make long term holdings. However, Bitcoin has proven that investing in Bitcoin can make you more profit than gold.
Personally, I don't have a bank account, I never like to keep money in the bank. I want to share a true story, someone I know put some money in the bank 10 years ago which was for 10 years, now went to the bank to withdraw money at the end of the term but the bank officials said that they don't have enough money in the bank, so I can say without a doubt that Bitcoin is the best to invest.

[Pi-network314159]

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

both is advisable, you can not completely follow one and leave the other, both are important. you will just invest in bitcoin and keep some fund in the bank because you will surely need to use them for normal day to day transaction. if you put all your money or invest only in bitcoin, it will always requires you to sell your bitcoin holding each time you want to buy goods with fiat in the absent of a market that doesn't accept bitcoin, and this will definitely affect you. so you have to invest the amount you wouldn't be needing for a very long period of time in bitcoin, and leave the amount you will be needing regularly in fiat. like your reserve and emergency fund. that is only what you need to do.

[colinistheman]

Personally, I don't have a bank account, I never like to keep money in the bank.

Are you serious? I would be genuinely surprised if an adult, who participates in society did not have a bank account. Or are you using someone else's bank account? How can you buy and sell Bitcoin? Or meet daily need such as medical bills, electricity bills, and grocery bills with Bitcoin?

I want to share a true story, someone I know put some money in the bank 10 years ago which was for 10 years, now went to the bank to withdraw money at the end of the term but the bank officials said that they don't have enough money in the bank, so I can say without a doubt that Bitcoin is the best to invest.

I believe this. When withdrawing a large sum of money, bank may not be able to fulfill the request immediately because they typically do not keep large amounts of cash on hand at their branch. However, if you give them a day or two to prepare, you can withdraw billions of dollars if you want.

[Cointxz]

Will my plan be good? Share your experiences.

I have the same experience like you with bank accounts. The banking system is built with different levels of charges on holder's account by compulsion. Depending on the account someone is operating, service bill is charged on those different accounts and not just that, there are other charges that look minor but they are not actually when you calculate them on a long term. Keeping money in bitcoin is better because you have opportunity of increasing the worth or value of it but inflation will reduce the value of your fiat.

Service bills or fee on having bank account? This is new since normally the bank is the one paying for interest for using your money stored on bank account.

Only CC has a fee since its use for borrowing money from the bank.

Here in PH, there’s already a withholding tax for the interest earned from bank accounts so the income is very minimal so I preferred putting my money on crypto to farm yield or hold Bitcoin instead of holding it on Bank.

[Bd officer]

Personally, I don't have a bank account, I never like to keep money in the bank.

Are you serious? I would be genuinely surprised if an adult, who participates in society did not have a bank account. Or are you using someone else's bank account? How can you buy and sell Bitcoin? Or meet daily need such as medical bills, electricity bills, and grocery bills with Bitcoin?

You may be surprised, but currently I don't have a bank account and that's true. I easily buy and sell bitcoins or other crypto through Nagad and bKash, Nagad and bKash are the mobile financial services of our country. I don't need a direct bank account to buy or sell bitcoins.

[yixichloro2xx]

In recent years, I have actually come to believe that it is better to invest in bitcoin than to invest in gold. This statement is not without reason, although some of my colleagues downplay it and say gold is better, but they basically forget about the percentage increase in bitcoin since the last time it dropped at $15k at 2022. Bitcoin has risen several fold since then and hit its all-time high of $126k a few months ago, but some people still deny the fact that bitcoin is better than gold.

People who often prefer Gold to Bitcoin is because they are unfamiliar with it. They still don't have enough understanding about Bitcoin. You Gold have around for thousands of years so they like to trust it more than Bitcoin. To them it's less risky. But what they know is that Bitcoin has vast potential than gold, price is higher , it is getting more adoption, digitalize and centralized and In terms of reward Bitcoin gives more profits than Gold. What I know is that when Bitcoin finally reached the heart of everyone, top countries would want to use it as part of their reserve. 

[Leahized]

I have the same experience like you with bank accounts. The banking system is built with different levels of charges on holder's account by compulsion. Depending on the account someone is operating, service bill is charged on those different accounts and not just that, there are other charges that look minor but they are not actually when you calculate them on a long term. Keeping money in bitcoin is better because you have opportunity of increasing the worth or value of it but inflation will reduce the value of your fiat.

Charges are being deducted from each customer's account differently. I don't see any problem with it. Because it has been happening for a long time. When we deposit our money in bank and they provide security of money by deducting some charges from it. And to say that no problem is faced in the long run. But it is possible to make money by investing in Bitcoin. However, a slight change in the market can actually result in a lot of money loss, compared to which the bank charges are very small. Moreover, full responsibility rests with oneself and is under one's control.Which is not possible by saving money through banks.

[Zigabel]

Keeping your money in Fiat doesn't guarantee your money will maintain its value for the longest and somehow same applies to Bitcoin as a matter of fact, with Bitcoin, you only see that advantage of increase if you have the patience and you are saving for the long term but if you are about  the short-term, it may even be worse than your Fiat saving and that is when Bitcoin start having some decline, if that decline or dip coincide with the time you need the funds, you are obviously not going to get the amount you deposited let alone an extra so for either forms of savings, you will need understand the timing so you can be able to maintain and get that value you seek for your money.