People invest in bitcoin because if you compare it to banks the interest is quite higher than the banks interest at the same time , in banks there is a fee's being deduct to the money when you don't deposit, unlike bitcoin the interest is when the value of bitcoin goes up same with your money, that is converted.
But also maybe because, people are tire of money that are being hostage sometimes by the banks, when i was putting money in bank, they were so happy but when I'm withdrawing the money they have lots of questions as if they are the one owning it, and is very suspicious.
The funnest thing about this banks, is the they will also see that you are the owner of the account and they will keep asking questions as if they are suspecting you😂
I understand what you mean. I also think the control banks have over people’s money can be frustrating sometimes. But as a beginner, I’m still trying to understand Bitcoin better, especially the risks involved because the price can also go down. Do you think Bitcoin is a better option for long-term savings than keeping money in a bank? And what would you advise someone who is just starting out?
i hesitate to say that Bitcoin is a place of long-term savings, because of its nature that has a continuous increase an also with price fluctuations that always follow bitcoin (including a decrease that is a risk), then investment is investment, and savings is savings, these are two deferent scenarios in my opinion, but even like that depending on where you look at bitcoin, if you admit that it is a long-term savings, yes please and there is no problem with it, but the point is not to expect that it will be stable in value, price volatility is a thing that needs to be accepted.
