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

[Osiokwudiri]

Traditional banking has its drawbacks, like limited control over your funds and invasive transaction monitoring. Large transactions can even raise red flags, triggering extra fees and taxes. Bitcoin offers an alternative – full control over your assets, free from government interference. It's a liberating feeling, isn't it? Why should banks charge high fees on your own money? It's puzzling. Fiat currency has its place, but it's not always the best store of value. Bitcoin's decentralized nature is a game-changer.

[Juicyhome]

Traditional banking has its drawbacks, like limited control over your funds and invasive transaction monitoring. Large transactions can even raise red flags, triggering extra fees and taxes. Bitcoin offers an alternative – full control over your assets, free from government interference. It's a liberating feeling, isn't it? Why should banks charge high fees on your own money? It's puzzling. Fiat currency has its place, but it's not always the best store of value. Bitcoin's decentralized nature is a game-changer.

  Many are still using Banks to save their money even when they all know how slow the banks are in services delivery and how they charges without Mercy. They are satisfied with banks than Bitcoin because they see Bitcoin has a strange coin, they want to be dealt with the devil they know than the angel the don't know. That's the best way to explain it.

But those of us that knows the difference and have tasted both could tell that Bitcoin investment is better than saving your money in fiat Bank. And we should just enjoy it, there's no need to convince anyone to invest in Bitcoin, time will surely tell who took the right decision.

[X-ray]

yes Saving money in the bank isn't an investment because inflation can still have an effect on it. But in the case of investment it won't be possible for inflation to affect it. However investing in bitcoin shouldn't stop anyone from saving money in the bank Moreover emergency funds is supposed to be in fiat and not in bitcoin incase of there is emergency, it can easily be accessible to be used.

Banks also have savings & investment plans for customers. They offer various investment plans and these plans have time durations which fund can't be withdrawn until the expiration of the time. If I were to invest for profits and between bitcoin and the banks,l will chose bitcoin over the bank because of profits differences. Bitcoin has the potential of generating good amounts of profits than the banks over the long term.

0.5% APY average isn't really good saving and investment though and the high yield saving accounts offered by bank usually have limited capital cap for the 4-5% APY. It's practically useless to me and I see it as more of a gimmick than anything. These aren't called hedge against inflation for a reason.

Basically, the statement about us losing purchasing power to inflation by saving money in bank is true and why we needed another asset to preserve wealth. Bitcoin or gold, whatever it is that can actually outweight current inflation right that is floating around 3% although I believe the real purchasing power we lost only visible when we compare fiat to gold.

[retreat]

Before you put your money in a bank account, you should know that the bank has service fees that will be deducted from your account. That's why keeping money in a bank can actually be detrimental to us because they will continue to charge unreasonable fees and you will not be free to manage your money.

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's certainly more profitable to store your money in Bitcoin, but only in the long term. In the short term, its value can be volatile, and you won't be able to maximize your profits. But if you're thinking of buying Bitcoin with your savings, you shouldn't do that. It's better to do DCA and build your portfolio with a long-term mindset. That way, you can manage risk more effectively and avoid putting unnecessary financial pressure on yourself.

[blockman]

Before opening a bank account, make sure that you have read their terms and conditions. Because they can be tricky and always ask questions when you don't understand what's written in the paper you'll sign. I've seen a lot of these experiences that their bank accounts were charged because for one very reason. And that's about their balances are under the maintaining balance. With that mean is they'll be charged if they won't deposit above the maintaining balance because that's the policy of the banks depending on what kind of savings account you have opened.

[Asuspawer09]

I mean, what is an account maintenance fee, seriously? renewal charges? this look completely ridiculous to me. Probably just find a better bank that does have this kind of charges. I never experienced this kind of charge in my life, and there are some banks that is offering free savings for sure in your country.

It is not always a bad thing to have liquidity or have money in the bank since you need liquidity before even starting to invest, if you want to start investing it is always recommended to build your financial foundation first before even starting to think about investing your own money, having the financial foundation like emergency funds, health insurance, savings, etc. is going to be your financial foundation and that is what your going to need to get secured and give you the peace of mind that you are going to survive whateven happeneds. Still you need to limit your cash on your bank to avoid inflation.

After completing that you could now starting to invest on assets like Bitcoin, gold, real estate, etc. if you are already planning to invest in Bitcoin, it is a great mov,e but I suggest to just start and doing DCA and start accumulating your Bitcoin already and avoid waiting for the big fall to invest.

[MagnificentX]

Traditional banks have so much issues attached to them that many time frustrates it's customers. They are certain accounts types you will open in the traditional banks that is not made for the average man be they will be constantly deducting your little savings in the name of charges.
Meanwhile Bitcoin is more better because we all know there are no hidden charges, or even deductions that will be made without your knowledge or consent.

[Oshio-man]

Before opening a bank account, make sure that you have read their terms and conditions. Because they can be tricky and always ask questions when you don't understand what's written in the paper you'll sign. I've seen a lot of these experiences that their bank accounts were charged because for one very reason. And that's about their balances are under the maintaining balance.

This is where some people are missing it with bank, some people base on they want to open account with a particular bank doesn't mean they should not read their terms and conditions of the bank because it will really help some bank users to understand their service very well, before the bank charge their customers they will send debit messages to their customers account to know the reason they charge that amount of fund from maintenance but some banks can double the charge to charge their customers illegally, there are some amount of funds you don't need to keep them in the bank than to invest them in bitcoin and hold for long term because by the time you will be planning to make use of the funds it will be double in your wallet.

[blockman]

Before opening a bank account, make sure that you have read their terms and conditions. Because they can be tricky and always ask questions when you don't understand what's written in the paper you'll sign. I've seen a lot of these experiences that their bank accounts were charged because for one very reason. And that's about their balances are under the maintaining balance.

This is where some people are missing it with bank, some people base on they want to open account with a particular bank doesn't mean they should not read their terms and conditions of the bank because it will really help some bank users to understand their service very well, before the bank charge their customers they will send debit messages to their customers account to know the reason they charge that amount of fund from maintenance but some banks can double the charge to charge their customers illegally, there are some amount of funds you don't need to keep them in the bank than to invest them in bitcoin and hold for long term because by the time you will be planning to make use of the funds it will be double in your wallet.

They are a business and I think people still think that they're just a brick and mortar safety vault, they're not. That's how they earn money, from people's money and to those who don't know the terms that they're signing. While some savings account doesn't have a charge, they'll also earn from those accounts that have been dormant so be mindful about that. I agree to them that instead of being charged by these banks, they should have just used their money to accumulate more bitcoin, to DCA.

[Emitdama]

I mean, what is an account maintenance fee, seriously? renewal charges? this look completely ridiculous to me. Probably just find a better bank that does have this kind of charges. I never experienced this kind of charge in my life, and there are some banks that is offering free savings for sure in your country.

It is not always a bad thing to have liquidity or have money in the bank since you need liquidity before even starting to invest, if you want to start investing it is always recommended to build your financial foundation first before even starting to think about investing your own money, having the financial foundation like emergency funds, health insurance, savings, etc. is going to be your financial foundation and that is what your going to need to get secured and give you the peace of mind that you are going to survive whateven happeneds. Still you need to limit your cash on your bank to avoid inflation.

After completing that you could now starting to invest on assets like Bitcoin, gold, real estate, etc. if you are already planning to invest in Bitcoin, it is a great mov,e but I suggest to just start and doing DCA and start accumulating your Bitcoin already and avoid waiting for the big fall to invest.

This is unfortunately true, and there are so many places like that. Even paypal or payoneer type of websites do this as well. Once upon a time (this was almost 10 years ago) I had to use payoneer because someone was sending me a payment, and that place took nearly half of the money for maintenance fee or whatever, or yearly fee and whatever else they can get. So believe me, crypto is far superior but I would keep it in bitcoin and not stablecoin because I do not like or trust stablecoins.

[Johnlomape]

Traditional banking has its drawbacks, like limited control over your funds and invasive transaction monitoring. Large transactions can even raise red flags, triggering extra fees and taxes. Bitcoin offers an alternative – full control over your assets, free from government interference. It's a liberating feeling, isn't it? Why should banks charge high fees on your own money? It's puzzling. Fiat currency has its place, but it's not always the best store of value. Bitcoin's decentralized nature is a game-changer.

The worse mistake a person will make when saving money is to put the fund in the bank that will use the money to make more money for themselves and you peanut as percentage for keeping your funds in their bank. People need to be wise and try to know how money can work for us without doing things that are not ethical. If bank can make more money from those people that are always saving their money in the bank, how much more will it be when the money is in millions of dollars. The society need to be wise and invest wisely not on regular banks.

[STT]

Seems terrible taxes just to use a terrible currency so you might as well stick to Bitcoin.
  The main problem is staying liquid and paying bills easily. also you need a healthy leeway for times when BTC wants to threaten much lower though I would argue its been ok compared to big negative year but BTC is volatile and you have to handle that.

[Pandorak]

Traditional banking has its drawbacks, like limited control over your funds and invasive transaction monitoring. Large transactions can even raise red flags, triggering extra fees and taxes. Bitcoin offers an alternative – full control over your assets, free from government interference. It's a liberating feeling, isn't it? Why should banks charge high fees on your own money? It's puzzling. Fiat currency has its place, but it's not always the best store of value. Bitcoin's decentralized nature is a game-changer.

Exactly as you said, it is very sad to see how the banking system works, seeing the money that you have worked so hard to save being deducted for certain fees set by the bank. You don't even have complete control over your own money, they have set daily transaction limits. This is truly unbelievable. It's not uncommon for money to be frozen simply because of the bank's unilateral suspicion of unusual transactions (large amounts), which is completely unreasonable.

In any case, investing in Bitcoin remains the best option and is far better than putting your money somewhere you cannot fully control. Looking to the future, the opportunity/potential for your assets to increase in value is very high as Bitcoin prices rise, rather than continuing to be stored in a bank and eroded by inflation.

[kbhutto]

Seems terrible taxes just to use a terrible currency so you might as well stick to Bitcoin.
  The main problem is staying liquid and paying bills easily. also you need a healthy leeway for times when BTC wants to threaten much lower though I would argue its been ok compared to big negative year but BTC is volatile and you have to handle that.

Both have different volatility in use, with the downside of using fiat currency being the high tax burden, and it's a poor currency compared to storing Bitcoin. Maintaining market liquidity isn't easy, but monitoring market movements is crucial to prevent drastic declines. Every year, or after a halving, the market collapses again. This is something that must be ensured.
Storing fiat currency won't increase in value, while Bitcoin's value will continue to increase. Don't forget the risks involved in storing it.