Is saving Enough Or Bitcoin Better?

[Mr_Brilliant$]

We have experienced failure from our banking system and people have been looking for safe decentralized asset that will be safer than bank to save their funds for future purposes, there are some people that is not looking for income in their savings but security on their coins because they have a plan on those funds they have deposited in bitcoin and it will make them realize that bitcoin is a safe coin to save huge amount of funds, you can be saving and earn income but make sure you are using good wallet to save your bitcoin because there are some wallet you will use,  it will make scammers to scam your coins from your wallet.

All of those ones join, but even outside those ones,  Saving alone nor fit beat inflation at all, na why people dey look Bitcoin..  But that one no mean say make person carry all him money go put inside crypto straight..

Truth be say, both get their place..  Normal saving na for stability, but Bitcoin fit serve as store of value long term… if you sabi wetin you dey do..

And that wallet part wey you talk na real, if person no secure well, na him go blame himself last last..

[Crakryptvest]

With wetin me I don know like that eh, saving no dey enough, when we think am, where we wan save for bank abi, to hope we know say our money must be tampered by banks or any other financial institution, my own be say if any newbie wan save, make the newbie just save small after them fit still need am later, wetin make me talk like this be say fiat na nonsense, I understand fiat get em own doings but that doings fit get k leg if inflation touch am hand small, my fellow newbies make we channel more energy for Bitcoin investment and make sure say our intention na to invest for long-term make we know come the think say we go just hit Jackpot immediately we start to the invest in Bitcoin.

[IceLincoln]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

So the question now is, does it make more sense to still be saving like we used to, like saving in banks and contribution or should we start putting some of that money into Bitcoin?  Which of these are realistic especially in our situation now and with the way things are going on in Nigeria today. Like is Bitcoin a better way to protect value or is it still too unpredictable compared to regular savings? Because at this point now, saving money is one thing and then making sure that money actually holds its worth is another.

Bitcoin is the future of money…. We are privileged to have this knowledge now and we have to implement it or rather apply it to show that we are wise. Saving money is good but like you pointed out when after some years or period of time that money’s value decreases  because of inflation instead of increasing or remaining at the same rate it becomes a problem but if it was in bitcoin for that long period there’s a tendency that your money would have added some amount of value/interest.
While it’s not so difficult to save in bitcoin due to the volatile nature but it is the best way to save or invest your money.

[Youngrebel]

Bitcoin is the future of money…. We are privileged to have this knowledge now and we have to implement it or rather apply it to show that we are wise. Saving money is good but like you pointed out when after some years or period of time that money’s value decreases  because of inflation instead of increasing or remaining at the same rate it becomes a problem but if it was in bitcoin for that long period there’s a tendency that your money would have added some amount of value/interest.
While it’s not so difficult to save in bitcoin due to the volatile nature but it is the best way to save or invest your money.

Bitcoin has changed the way people think about money and saving, also being early to understand it does feel like an advantage, especially when you compare it to traditional savings that lose value over time because of inflation and you are right that keeping money in cash for years can be frustrating when its purchasing power keeps dropping. Bitcoin, on the other hand, has shown that over the long term it can grow in value, which is why many people now see it as a better store of value than just holding cash. That said, it is also important to be realistic about the volatility. Bitcoin can go up, but it can also drop significantly in the short term, so it’s not always as stable as traditional savings but in the end, it is less about choosing one over the other and more about being smart with how you manage your money and maybe combining both approaches. Bitcoin can be a strong investment option, but it is always wise to balance it with some level of financial stability too.

[BluebloodCXVI]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

So the question now is, does it make more sense to still be saving like we used to, like saving in banks and contribution or should we start putting some of that money into Bitcoin?  Which of these are realistic especially in our situation now and with the way things are going on in Nigeria today. Like is Bitcoin a better way to protect value or is it still too unpredictable compared to regular savings? Because at this point now, saving money is one thing and then making sure that money actually holds its worth is another.

I would not necessarily say that one is better than the other because I believe they both serve different purposes so it’s better to adopt a hybrid approach rather than choosing only one. Holding Fiat is suited for short term need while bitcoin on the other hand is better suited for long term holding so It is not advisable to hold fiat long term because it will definitely lose value over time due to inflation, and that is where bitcoin comes in because it is more suited for long term holding than Fiat and even though it (bitcoin) doesn’t always 100% guarantee growth, it has potential of growth in the long run and there has been historical evidence to support that claim.

[ProsperBTC001]

Whether saving money or investing in Bitcoin, all are influence by inflation and deflation. We can save money for future use or purpose where as by saving the money, things or goods can be inflated and when it's inflated, the money saved will have a lesser value. It also applies to Bitcoin, if we choose to keep our Bitcoin, it can rise or fall when the market is poor. Like as of this year, Bitcoin has deflated badly. Saving money can be good, keeping Bitcoin can also be good but in all it can be influence by the rise and fall of the economy or crypto market.

[JoyceBTC]

I’ll highly recommend investing in bitcoin. Investing long term in bitcoin will yield high return but that is not guaranteed with our traditional banks, which doesn’t mean we shouldn’t save in our traditional banks. We can save in traditional banks incase of emergency and also daily transactions.
Due to the inflation right now in the society, depending on our traditional banks for profit is never an option because instead of an increase, our savings will go down daily due to bank charges.

[Dareo]

I believe that Bitcoin has transformed our thinking about money not only saving. It used to be believed that it is safe to keep money in your hands but now I realize that it is not enough to keep it, its worth may go down with time. However not all things can be solved with Bitcoin. The price can escalate considerably and other times it can also go down abruptly and not everyone can cope with it. Therefore I believe that it is important to strike a balance between the two, so that some of them can be stored in Bitcoin in case of a future and some in cash in case of your safety. It seems more realistic to go this way.

[OsaiEmma]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

So the question now is, does it make more sense to still be saving like we used to, like saving in banks and contribution or should we start putting some of that money into Bitcoin?  Which of these are realistic especially in our situation now and with the way things are going on in Nigeria today. Like is Bitcoin a better way to protect value or is it still too unpredictable compared to regular savings? Because at this point now, saving money is one thing and then making sure that money actually holds its worth is another.

Personally, I think savings is very very important if you want to be comfortable. Yes investment in Bitcoin is important but not as necessary as Bitcoin because, Bitcoin investment is an investment that you won't necessarily need to use up for immediate needs or wants or in the nearest future. It should be a long term project, but your saving could be used for short term projects like, maybe buying a car, a house, or for investment, basically for any not so long term project 😂😂. That's my thought on this. So if you can both save and invest, that's perfect, but I feel you should always have savings no matter what.

[Pi-network314159]

So the question now is, does it make more sense to still be saving like we used to, like saving in banks and contribution or should we start putting some of that money into Bitcoin?  Which of these are realistic especially in our situation now and with the way things are going on in Nigeria today. Like is Bitcoin a better way to protect value or is it still too unpredictable compared to regular savings? Because at this point now, saving money is one thing and then making sure that money actually holds its worth is another.

Of course investing in Bitcoin will be a better option, gone are those days when people save money for the future or for future porpose, nowadays things have changed, Bitcoin investment has provided us with more opportunities to excape from inflation or make us recover from loses that would have occurred if we leave our money in fiat. Bitcoin is a great investment idea anyone can think of right now with the current economic condition. There is no two ways about it, even though it might be risky due to volatility but it is better to take such risk on Bitcoin than risking it on dieing fiat.

[Agathamay]

Both are good. I wouldn't advise a citizen of Nigeria to consider having one, to leave the other because in this life we live, we should try to save money for emergency purposes at all times and invest for the future. We shouldn't forget that no matter how we try to live our lives. As there are things we can deny ourselves from doing when it comes up on our way, we must find a way to get them done. Those kinds of things are, life-threatening issues, and future investments whereby we use our money for them

Yes, I think the both of them is important. But if bitcoin was made legal in Nigeria I mean using it as a  method of buying and selling of goods and services then i would have suggest that everyone should go for bitcoin but since we are not giving the access to spend it however we like then we will have to make use of the both but as for me the only money I can save in Fiat is the one I will be using for emergency purpose and also for my day to day expenses if not that then all my savings will be shift into bitcoin.

I think we can spend the coins in our country without any issues and what matters is that we get a seller who accepts it and what the government did was simply just disassociating themselves from the whole stuff especially when the fraud cases in the country went through crypto but that aside, me I Dey prefer to keep my money for crypto exempt the money come in fiat else I Dey leave my money for bitcoin and I Dey always have the feeling say I'm doing the right thing.

[Mr_Brilliant$]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

So the question now is, does it make more sense to still be saving like we used to, like saving in banks and contribution or should we start putting some of that money into Bitcoin?  Which of these are realistic especially in our situation now and with the way things are going on in Nigeria today. Like is Bitcoin a better way to protect value or is it still too unpredictable compared to regular savings? Because at this point now, saving money is one thing and then making sure that money actually holds its worth is another.

Bitcoin is the future of money…. We are privileged to have this knowledge now and we have to implement it or rather apply it to show that we are wise. Saving money is good but like you pointed out when after some years or period of time that money’s value decreases  because of inflation instead of increasing or remaining at the same rate it becomes a problem but if it was in bitcoin for that long period there’s a tendency that your money would have added some amount of value/interest.
While it’s not so difficult to save in bitcoin due to the volatile nature but it is the best way to save or invest your money.

Nor be lie… Bitcoin really get that advantage wey normal saving nor go fit get, especially as inflation dey chop money value small small dey go…

But normally e nor dey always go up like that..  That same volatility wey dey give profit, na the same thing fit still cause loss if person nor get patience or wan dey time the market.. Na why some people panic sell when market drop…

So yeah, Bitcoin na good way to grow money long term, but e nor mean say make person carry all him savings put there..  Better thing na to balance am… keep some for side, then use the one wey you fit risk invest for Bitcoin.. Na that kind move dey safe pass…

[Agbamoni]

With wetin me I don know like that eh, saving no dey enough, when we think am, where we wan save for bank abi, to hope we know say our money must be tampered by banks or any other financial institution, my own be say if any newbie wan save, make the newbie just save small after them fit still need am later, wetin make me talk like this be say fiat na nonsense, I understand fiat get em own doings but that doings fit get k leg if inflation touch am hand small, my fellow newbies make we channel more energy for Bitcoin investment and make sure say our intention na to invest for long-term make we know come the think say we go just hit Jackpot immediately we start to the invest in Bitcoin.

Saving na for differnet purpose, e get the one u go save ay go later save you and the one u go save for other reaosn. E get people way dey save to start business, do some kind investment so saving no be all about looking for weting go save you later when you dey in need of money. Dat one dem day call emergency fund. Emergency no be all about health, emergencies dey for food, rent and anytin u fit think of go warrant sharp sharp need of money.

[fredericktaylor]

Both are good. I wouldn't advise a citizen of Nigeria to consider having one, to leave the other because in this life we live, we should try to save money for emergency purposes at all times and invest for the future. We shouldn't forget that no matter how we try to live our lives. As there are things we can deny ourselves from doing when it comes up on our way, we must find a way to get them done. Those kinds of things are, life-threatening issues, and future investments whereby we use our money for them

Yes, I think the both of them is important. But if bitcoin was made legal in Nigeria I mean using it as a  method of buying and selling of goods and services then i would have suggest that everyone should go for bitcoin but since we are not giving the access to spend it however we like then we will have to make use of the both but as for me the only money I can save in Fiat is the one I will be using for emergency purpose and also for my day to day expenses if not that then all my savings will be shift into bitcoin.

I think we can spend the coins in our country without any issues and what matters is that we get a seller who accepts it and what the government did was simply just disassociating themselves from the whole stuff especially when the fraud cases in the country went through crypto but that aside, me I Dey prefer to keep my money for crypto exempt the money come in fiat else I Dey leave my money for bitcoin and I Dey always have the feeling say I'm doing the right thing.

It is very good to be patient by investing in Bitcoin with a long-term plan. Investing in Bitcoin is good, but it is much better to have a diversity of investments according to your ability, as this reduces the risk. If you buy Bitcoin little by little consistently with discretionary mone with confidence and hold Bitcoin for a long time with confidence and can wait for good times without getting disappointed quickly during market volatility, then by holding Bitcoin in the future, you can protect your valuable money from inflation and expect profit from Bitcoin in the long term. If you want to success by investing in Bitcoin, you have to be patient with confidence because Bitcoin long-term asset that increases in value slowly, but if you invest according to the right rules, you can expect success in the future.

[icebar]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

Saving is good, but before doing that, we must understand that the money we save in a bank for a long time can give us feedback after a long time. If money is kept in the bank for a long time, then we will lose that money. The value of fiat currency will decrease greatly due to the increasing rate of inflation. If someone does not keep it in that fiat but keeps depositing in Bitcoin, then there will be a possibility of getting much more profit from that investment in the long run. In addition to maintaining the value of money, there will be a possibility of getting high returns from the investment, which is not possible to achieve with fiat.

[AYIMAN]

The both of them are all good, but you have to put them in a balance scale.
You can not  save throughout your life without investment neither will you invest all your money at once.
While saving or investing, you must have precautions and also apply wisdom so that if any of them fails the other can always sustain for a while before you can stabilise again.

[Cityhunter34]

Bitcoin was not created to abolish the banking system, they serve different purposes for everybody that makes money. Before Bitcoin was created people relied only on banks to save their money but Bitcoin came and thought us about decentralization and limited supply which is opposite of what banking system stands for.

Money that you don't plan to spend for many years should be swapped to Bitcoin because it is a hedge against inflation then what you plan to spend within a short time should be left in the bank. Many smart people don't leave a lot of money in their bank account because of depreciation they invest it in assets that will give them profit. One of the best assets to buy as if today is Bitcoin because it is a store of value.

Exactly, because we can still invest in Bitcoin, save some money in the bank and even engage in the money contribution  activity, as this are other means of saving money. Bitcoin investments is supposed to be for a long term, while money saved in Banks and contributions should be used to settle other personal issues. Not only this, a person can also invest in businesses too, the fact that Bitcoin exists does not mean we should not have other means of savings and income, because with other savings a person will be able to hold his Bitcoin for a long term without being tempted to temper with it. Or think otherwise.

You are absolutely right that is a good idea because I know people who engage in many contributions and they are generating a lot of money from it. There are many ways to save money so you don't have to rely on one side because emergency can come out anytime which all of us no how hard it is when you don't have another source of income. Investing in Bitcoin does not mean you won't have other plans for something else because that is where most of us normally get it twisted thinking they have arrive and before you know it they will start looking for a way to get money from their Bitcoin while it is not yet time.

[yixichloro2xx]

With how the economy has been moving, especially with the recent crisis, I have been thinking and I want to ask the question if just saving money is still enough. We can see inflation as it keeps reducing the value of cash and what you save today might not hold the same value tomorrow. This is where Bitcoin start to come into the conversation, as more people see it as an another way to store value over time instead of just holding fiat.

Saving is good, but before doing that, we must understand that the money we save in a bank for a long time can give us feedback after a long time. If money is kept in the bank for a long time, then we will lose that money. The value of fiat currency will decrease greatly due to the increasing rate of inflation. If someone does not keep it in that fiat but keeps depositing in Bitcoin, then there will be a possibility of getting much more profit from that investment in the long run. In addition to maintaining the value of money, there will be a possibility of getting high returns from the investment, which is not possible to achieve with fiat.

There's nothing wrong with keeping your money in the bank, because you have easy access whenever you want to pay for some needs and expenses. But the only thing that affects your savings is inflation, which makes its value decrease. Bitcoin is on another level, it doesn't care about inflation, it has limited supply. That gives it a chance to hold value better in the long run. But it also has its own risk, they goes up and down. This is why we should know the difference between saving and investing. Saving means keeping your money in a place for short term needs and it gives you stability or emergencies whereas investing means putting your money in an asset that grows over time. it is not advisable for someone to save their money into Bitcoin especially when needs might come up. The best is to separate your funds into your desirable choice whereas one will go into your savings and the other as Bitcoin investments.

[DiMarxist]

The both of them are all good, but you have to put them in a balance scale.
You can not  save throughout your life without investment neither will you invest all your money at once.
While saving or investing, you must have precautions and also apply wisdom so that if any of them fails the other can always sustain for a while before you can stabilise again.

You heat a very important point here whether you are investing or saving, there should be a balance at every time in time. Saving and investment should have their place as an individual this is we we talk about apportioning of your funds as an individual so that everything will be balanced as an individual. There should be money for investment, saving and spending so that you will not be caught off guard. Placement of funds is very important. Sometimes your investments will have problems and not go according to your plans in such a case you can fall back to your saving.

[Jasmyne]

Whether saving money or investing in Bitcoin, all are influence by inflation and deflation. We can save money for future use or purpose where as by saving the money, things or goods can be inflated and when it's inflated, the money saved will have a lesser value. It also applies to Bitcoin, if we choose to keep our Bitcoin, it can rise or fall when the market is poor. Like as of this year, Bitcoin has deflated badly. Saving money can be good, keeping Bitcoin can also be good but in all it can be influence by the rise and fall of the economy or crypto market.

Yeah all is good and it is advisable to save and still invest. You can’t just put all your money in savings without investing likewise you can’t just invest all your money in Bitcoin without saving. Savings allows you to prepare yourself against unexpected expenses like emergencies, bills and also to achieve a particular goal within short term while investing on the other hand, helps you build wealth over a long period of time, getting higher returns of what you invested in over time.