Bank Or BTC

[Juicyhome]

Op, the reason people love bitcoin is not only because of investment, but with bitcoin they can control their investment themselves without going to a third party.

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party. Bitcoin investment is a sure plus you can trust anyway, time to withdraw you don't have to fill in any form unlike bank where they will stress the he'll out of you for form and unnecessary questions before you withdraw your money,  in bitcoin within a sec, you have your money,  that simplicity makes bitcoin haven for me.

[AprilioMP]

Bitcoin. Yes, Bitcoin.
To get the actual figure, you can use the same calculator you usually do. Simply put, if you calculate over a 4-year period using the amount you invested at a consistent purchase price, you’ll get the profit figure. The actual figure will differ if the purchase price varies each time you buy. It’s possible your calculator is off because the profit from Bitcoin’s price recovery exceeded the predictions made when a new all-time high (ATH) was set.

If an investor accumulate Bitcoin regularly for 4 years, is it certain that he will be profitable? I think this period needs to be increased further. You have to save Bitcoin every week and keep this period for 10 years. Only then, maybe an investor can reduce the last average purchase price a lot and remain profitable. I am just talking about fear. But in reality, it can happen that the price of Bitcoin can increase by 2x or 3x or more than the current price after the next 4 years.

If I told you I’d make a profit, would you believe I could multiply my investment by more than 3x? I only need one 4-year cycle starting from the drop off the ATH. Let’s say I start in January 2025; then I’ll need a few more years to turn a profit from the returns. Even if I miss the 4-year cycle, I’ll just need a few more months—less than a year.
If I were like Saylor or someone else with substantial capital, I probably wouldn’t have any fear at all about building up my Bitcoin balance over a single cycle.

[BALIK]

Op, the reason people love bitcoin is not only because of investment, but with bitcoin they can control their investment themselves without going to a third party.

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party. Bitcoin investment is a sure plus you can trust anyway, time to withdraw you don't have to fill in any form unlike bank where they will stress the he'll out of you for form and unnecessary questions before you withdraw your money,  in bitcoin within a sec, you have your money,  that simplicity makes bitcoin haven for me.

Putting money in a bank is a bad idea if what you're after is profit, purchasing power, or privacy. But if your only reason is that they charge you fees, I don't really think that's a fair argument. Those fees are usually stated upfront before you even put your money there. And tbh, most of them are pretty small compared to the services you get from the bank.

Same goes for withdrawals. There's a process you agreed to beforehand. That's also part of how banks secure and protect their customers.

As for Bitcoin, it's definitely a potential investment, but it comes with risk too. You've got self custody over your funds, sure, but that also means your responsibility just went up too.
Both got their ups and downs.

[Just Say]

Many times we have analyzed the advantages investing in Bitcoin has over keeping your fund in the bank. If you want to make profit in the money you deposited in the bank, your money has to be in fixed deposit depending on the terms of agreement, and making double of your money in 4 years time is not certain. Comparing money in the bank with Bitcoin, Bitcoin has been one of the fastest growing digital assets in nature, superceding gold, stocks. If you put your money in Bitcoin, within the space of 4 years you can possibly make some of about 3-4 times of your initial investment, and making such profit from bank is very rare.

There are several advantages of saving in Bitcoin over keeping money in the bank, among them is the tool to protect against inflation and another is the huge potential for getting large returns in the long term. Those who keep money in the conventional banking system lose their value along with inflation, so the profit they make over the savings after a long time is not a significant profit. In addition, if you deposit money in the bank, there are government taxes and banking institution fees, which reduce the amount of return.

If you believe in Bitcoin for the long term, especially if you can hold it for more than one cycle, then several times the return is possible. Moreover, Bitcoin also works as a hedge to protect against inflation. The returns of those who have held it in Bitcoin for the past few years have also been much higher than those of conventional banks. Another important thing is that if the bank goes bankrupt for any reason, the customer will also be affected. Therefore, it is better to keep your money with yourself than to lose it by keeping your money with others, and in this case, holding Bitcoin is the safest medium.

Saving in Bitcoin has several advantages over keeping money in the bank as you can see that the main advantages of storing Bitcoin are its decentralization, high growth potential and absence of middlemen. Also its right people who hold money in conventional banking system devalue their money due to inflation so fiat currency can no longer be relied upon in case of inflation, even as far as I know the best option for store of value is Bitcoin, in fact it has given people hope that they can store wealth in it and not be affected by inflation.

The advantages of holding Bitcoin assets are independent control, quick and easy transactions, and high profit potential, but on the other hand, if you keep money in a bank, you have to pay government taxes and banking fees, which can reduce the amount of returns, as a result it is only those who do long-term bit counters and hold it for multiple cycles that have the potential to make huge profits.

[Hyphen(-)]

I will prefer Bitcoin over banks.
This days I hate exposing myself to the world, bank have that habits, the know your worth.

With Bitcoin you can't know my worth unless you know that my Bitcoin address is linked with my Identity card or some KYC verification, I trust Bitcoin wallet more than my bank account.

No one will know that I hold Bitcoin or I am worth some amount of money, it's easier to flash my bank account and say that I am broke, and they will believe, not knowing that my main money is in a Bitcoin wallet.

The privacy is very important, you can’t just show up your wealth just for little 10-15% profit, what is hidden there is what you can’t tell. You don’t have the control of your Bitcoin if you invested it in a platform to take some orange, I think it better to be your own bank. Buy your Bitcoin to hold, if you can trust some platforms for some years after given them your identity just for little profit, your Bitcoin investment can give you that same or more profit and no one knows you own a Bitcoin, it all depends on how you want to use it, when and how; you don’t have to wait for some maturity time to spend your money.

Bitcoin provides privacy and security, people underrate that because of small profit, if the platform got hacked, their BTC is gone, then why putting your investment into risk, it is safer to have your own wallet and have the control of your Bitcoin.

[MusaMohamed]

Buy your Bitcoin to hold, if you can trust some platforms for some years after given them your identity just for little profit, your Bitcoin investment can give you that same or more profit and no one knows you own a Bitcoin, it all depends on how you want to use it, when and how; you don’t have to wait for some maturity time to spend your money.

It's very risky and unrealistic to trust any platforms for storing bitcoin there in some years. Even at the time you fund your accounts on any platform, it's a start of risk of losing your coins. The longer time of storage your fund there, the more risk you will have with your coins, and you must be very naively or bravely to sleep well when you don't control your bitcoin's private keys.

Reminder: do not keep your money in online accounts.

Bitcoin provides privacy and security, people underrate that because of small profit, if the platform got hacked, their BTC is gone, then why putting your investment into risk, it is safer to have your own wallet and have the control of your Bitcoin.

Privacy and security support as well as affect each other. If you can have good privacy, your security has good chance to be enhanced. If you have bad security, your privacy can be lost.

More important, bad security and bad privacy can cause loss of your bitcoin and even you might be physically attacked to death.

[RockBell]

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party. Bitcoin investment is a sure plus you can trust anyway, time to withdraw you don't have to fill in any form unlike bank where they will stress the he'll out of you for form and unnecessary questions before you withdraw your money,  in bitcoin within a sec, you have your money,  that simplicity makes bitcoin haven for me.

Furthermore, I believe that it is more about how you spend your money than it is about trust since, in the current situation, the banks will claim to be conserving it for you, but in reality, they are utilizing it to increase their profits. We should be able to invest our money instead of putting it in banks, given that we have assets like Bitcoin. And everything is changing the banks had their time, and now people are becoming more exposed.

Additionally, a lot of people are avoiding putting their money in banks because they believe that inflation will eventually catch up with their savings and that it would be better to just find a way to do things that will allow you to profit from your savings as the money is invested. Additionally, the asset's value may decrease at the same time, but it also has the potential to increase, which is just one of the benefits of bitcoin.

[YOSHIE]

So according to this situation which one would be better? I wants some actuall numbers not promises.

Basically the way banks and Bitcoin work is very different, you should not compare the profits of your deposits/investments in banks with Bitcoin.

Maybe you can see on various social media/Google the main reason why Satoshi Nakamoto created Bitcoin.

In short:

Bitcoin was created to allow people to send and receive money digitally without relying on banks or intermediaries.

That's where the difference between Bitcoin investment and Banking lies.
Banks do directly provide interest profits from your deposits/investments, because your money has been transferred by the bank to their credit customers.
Meanwhile, Bitcoin's main purpose is not for investment, as mentioned above, because Bitcoin's growth continues to increase, up and down per second, minute, day, month and year, ideas arise from various groups of Bitcoin users, to trade, invest and so on, it does not affect the 4 year cycle, so don't make the wrong arrow, regarding investment and so on.

If you compare it, the best name is between Banks and Bitcoin in terms of investment, of course my answer is of course Bitcoin, Banks have clear percentage profits, but not Bitcoin, sometimes the profits they get are a higher percentage than Banks.

[MisFoxie]

-snip-

It totally depends on your country because if the inflation rate is very high then you will not be able to make any profit with this 11% interest rate. Since you have not revealed your country for your privacy I cannot say much about it in detail but you should find out your countrys inflation rate for the recent 7 years.

If it is avarage 5% or lower then you are generating more than 5% higher value of your fund, but if it is above 10% then I don't think there will be any benefit in keeping your funds in the bank. If the bank ever becomes bankrupt then you may not get your funds back although insurance may recover some of it. Bitcoin doesn't have this risk if you can securely store your wallet.

[batang_bitcoin]

That's called emergency fund and that's what should the funds that we deposit there should be used. Or just being cash ready for that. I think that even someone who's got a lot of money in the bank and not going to use it immediately, this gives them the freedom to think of where they are going to invest it. And hopefully, OP and those people will decide to put it in bitcoin not because we tell them so but because they understand the need of doing it and it's exact to their current situation now as it allows them to invest in it without hurrying or forcing themselves to.

They can store their emergency fund with splits to different things: cash, digital bank accounts' money, stablecoins if they want to take more risk with stablecoins. I personally choose the first two methods: cash and bank accounts' money for my emergency fund. Because I have no belief that stablecoins will always be stable.

With my emergency fund, I need it to have something I can use immediately, and with exact value of the fund I built up for urgent needs. The most favorite choice is cash, and if people don't want to have more risk, they won't store money in bank accounts. If they want some more flexibility, they can have two parts as said: cash, and bank account's money.

Tether can freeze stable coins in your wallets.

There are chances that some stable coins can be depegged to dollar and that's a good option and thought you have in there. I've seen some of it that have been depegged although they're not so popular but we see the possibility that there is a chance that it can happen to the known stable coins too. Cash is king as they say but, you know what is better based on your needs and on how you're going to make it the most use out of it.

[leonair]

I'm getting 11.5% interest on my FDR right now , within 6-7 years my investment will be 100% in profit if I do not cashout.
I'm getting a 10.5% Interest on my DPS , Which I save money in monthly basis. Interest rate drops and increases however it's always around 10% .

So if I invested on BTC I would likely get a 2x - 3x on next bull season. If I count it as 4 year cycle then to make next leg up I would need 4 whole years sitting my fund.

If you keep your money in Bitcoin, it has been seen since the launch of Bitcoin that your money will be 3-4x within 4-5 years. And if you keep your money in the bank, the chances of it being 100% within this period are very less because even if you get 10-12% annual interest from the bank, income tax will be deducted from it at 10-15%, so in that case your profit range will be further reduced.

But if you invest in Bitcoin, there is a risk here too because the price of Bitcoin fluctuates. If you keep money in the bank, you can withdraw that money at any time and you will not lose anything, but in the case of Bitcoin, if you suddenly want to cash out Bitcoin, you may also be in loss because it is not possible to predict in advance what the price of Bitcoin will be at that time. So if you can successfully hold Bitcoin for 4-5 years, then I would say invest in Bitcoin instead of keeping money in the bank. Because you will have the opportunity to get the same amount of profit as you would get by keeping money in the bank for 20 years within 4-5 years through investment in Bitcoin.

You are right, the purpose of keep money inside the bank is for easy access. Your bank should be where your emergency savings, back up funds and any other type of savings should be kept. One day you might want to buy drugs or something else,  you can easily withdraw money from ATM to pay, because it will be inconvenient for you to start selling part of your Bitcoin to pay.
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Any money someone wants to put into bitcoin should be for investment alone, it shouldn't be touched just because an emergency arises. Of course there's no good returns when you save in the bank, but if you're uncomfortable with the way  Inflation rises, then put half of the money into Bitcoin and the remaining balance in bank for spending.  At least you won't be putting everything in one place.

There is no need to invest half of one's income in Bitcoin. Even if a person invests 10% of his income regularly in Bitcoin, he can still save a good amount of Bitcoin. If he invests a lot of money, he will want to follow the price of Bitcoin frequently, due to which if the price falls, he will panic and if the price rises, he will want to sell again because there will be some profit. That is why it is better to invest such an amount that you can easily forget about the investment and then it will be possible to hold it for a long time. Keeping money in the bank will never be a good idea because if you keep money in the bank, it will lead to inflation and there is also a risk of not being able to withdraw the money at the right time. Therefore, learning money management is very important to do the matter of saving and investing properly, considering everything.

[GeorgeJohn]

Putting money in a bank is a bad idea if what you're after is profit,

Money you keep in the bank is not a bad idea..it's not bad idea if you don't have interest for investment and also you want easy access whenever you needed your money you can possibly and easily have it...but if you have intentions to make a profit, you can go for investment...

purchasing power, or privacy. But if your only reason is that they charge you fees, I don't really think that's a fair argument. Those fees are usually stated upfront before you even put your money there. And tbh, most of them are pretty small compared to the services you get from the bank.

There's no place you will keep or save your money that you will not experience any deduction, they most be transactional charges if you make a withdrawal or deposits, so charges is not something that will make you to reject and condenm methods of saving money with bank....

[Abuobyda218]

If a comparison is made between banks and Bitcoin, then I will definitely choose Bitcoin first. Because in this inflationary era, if you invest in Bitcoin from that money rather than keeping paper money in the bank, it will be more profitable. However, keeping money in the bank and investing in Bitcoin are two different things because if you keep money in the bank, the value of money gradually decreases over time due to inflation, but if you invest in Bitcoin and if you can hold it over time, then you can be sure that you will get a lot more profit. So stop keeping money in the bank and invest in Bitcoin because now is the right time to invest and we may not get this opportunity in the future.

[Smartvirus]

Op, the reason people love bitcoin is not only because of investment, but with bitcoin they can control their investment themselves without going to a third party.

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party.

Most times, these charges are not hidden at all, it doesn’t need to. They only need a statement from the federal government or from their big brother bank the central banks to legitimize every deduction. It doesn’t matter if you agree or not, the fact that they already sent a notice and you didn’t query it simply means, you are in agreement and compliance to it.

What’s worst, you don’t even fully understand how it’s being applied.
Some times, you find it not being applied at all and other times, you find it being applied way too often.

The amounts are usually small and occurs per transaction while, some occurs at certain periods of the week or month. We don’t pay much attention to it because the amounts are usually small but, when collected on a large scale, you would find that these are some huge earnings to the bank, people’s money.

[Solokan]

Don't  make stupid decisions all in the name of interest, I understand that some people are living on interest like a man I know who happened to have a lot of money fixed and making good amount from it every month to survive.

It is working so far and it's been few years but let's leave Fiat things for Fiat things, it's where banks comes in and also some interest platforms around the world but do not toy with your Bitcoin.

Keep your Bitcoin away from the banks, Bitcoin investment is far more reliable because you control the key, your money in the hands of banks isn't in your control, atleast treat Bitcoin like your spinal cord, your soul backbone of investment and let your fiat do this.

Everyone's desires and wants are different. It's certain that if we invest all or most of our money in BTC, the potential for greater profits will be greater. However, not everyone is strong enough to face this challenge Most people still consider the risks of investing in BTC While long-term investment has the potential to yield substantial returns beyond interest, we still don't know what will happen to BTC in the future

In my opinion, this depends on the individual's situation and desires. However, I still think it's best to only invest money that you can afford to lose in btc I also think it's better to invest in BTC as a side hustle. Personally, I invest mostly in gold and land, with only a small portion in BTC

[Cossyblack]

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party. Bitcoin investment is a sure plus you can trust anyway, time to withdraw you don't have to fill in any form unlike bank where they will stress the he'll out of you for form and unnecessary questions before you withdraw your money,  in bitcoin within a sec, you have your money,  that simplicity makes bitcoin haven for me.

You need the bank as much as you need bitcoin as you can't convert all your fiat currency to bitcoin,you still need to keep some in the bank for your basic needs and incase of emergency. The banks is safe but they can't guarantee you 100% security of your fund,they can secured your money to an extend depending on how you hid your sensitive banking data from the public.
Have you complained to your bank about the unnecessary deductions from your accounts? There are channels that you can use to  communicate with your bank online without going there in person.My bank was making unauthorized deductions from my account in the past like this but after i complained to them.they were able to rectify the issue and my money was returned.

[cocadalcan]

Don't  make stupid decisions all in the name of interest, I understand that some people are living on interest like a man I know who happened to have a lot of money fixed and making good amount from it every month to survive.

It is working so far and it's been few years but let's leave Fiat things for Fiat things, it's where banks comes in and also some interest platforms around the world but do not toy with your Bitcoin.

Keep your Bitcoin away from the banks, Bitcoin investment is far more reliable because you control the key, your money in the hands of banks isn't in your control, atleast treat Bitcoin like your spinal cord, your soul backbone of investment and let your fiat do this.

Everyone's desires and wants are different. It's certain that if we invest all or most of our money in BTC, the potential for greater profits will be greater. However, not everyone is strong enough to face this challenge Most people still consider the risks of investing in BTC While long-term investment has the potential to yield substantial returns beyond interest, we still don't know what will happen to BTC in the future

In my opinion, this depends on the individual's situation and desires. However, I still think it's best to only invest money that you can afford to lose in btc I also think it's better to invest in BTC as a side hustle. Personally, I invest mostly in gold and land, with only a small portion in BTC

You are not making the mistake of keeping at least fiat reserves which means you are making the right decision. Some people make the mistake of keeping funds in the bank but they do not know how their savings are being depleted every year. Those who have even a little knowledge about inflation will invest in gold and real estate rather than keeping cash reserves. And those who are more intelligent will regularly deposit Bitcoin as they build these assets.

Many people are curious about where Bitcoin will go in the future. It is risky for new investors and a bit doubtful for those who are learning about Bitcoin but they believe that it will reach high levels in the future. For those who are experienced they are accumulating Bitcoin regularly is an opportunity because they can roughly understand that the value of Bitcoin will increase much more than its current value in the future. Accumulating Bitcoin regularly is the best opportunity for every investor not just for experienced investors.

[Pablo-wood]

Op, the reason people love bitcoin is not only because of investment, but with bitcoin they can control their investment themselves without going to a third party.

I can't trust my bank with my money, their hidden charges and low interest is something I'm very scared of , they deduct unnecessary money from my account without but in bitcoin I trust the process and I'm convinced nothing will happen tonby bitcoin investment except dip market and dip is natural, and it still a better option for me, since no hidden charges and no third party. Bitcoin investment is a sure plus you can trust anyway, time to withdraw you don't have to fill in any form unlike bank where they will stress the he'll out of you for form and unnecessary questions before you withdraw your money,  in bitcoin within a sec, you have your money,  that simplicity makes bitcoin haven for me.

Bitcoin makes sense as a long-term investment, but for short-term holding I'd still prefer fiat, for me it's far more stable than Bitcoin's price swings. In reality we can't do without the bank, I might not trust my bank enough to leave my money with them but honestly battling with volatility in a short-term hold isn't profitable enough for me except the goal is long-term.

[Sulegzy39]

Storing in Bitcoins offers many advantages over putting money away in a financial institution. As you can see, the primary benefits of keeping Bitcoins are its decentralisation, high potential for growth, and lack of intermediaries. Additionally, individuals who hold funds in the conventional banking system devalue their money due to inflation, so fiat currency can no longer be relied on in the event of a recession. So far as I understand, the best option for a store with value is Bitcoin, which has provided people confidence that they can store assets in it and not be impacted by a recession.

The benefits of investing in Bitcoin as digital currency investments include autonomous control, quick and simple trades, and high profit potential; however, if you keep funds in a bank, you must pay government taxes and bank fees, which may decrease the amount of earnings; as a consequence, only those who do long-term investing in bit trading and hold them for multiple periods of time had a chance to earn huge earnings.
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[Ashawowo(OS)]

I'm getting 11.5% interest on my FDR right now , within 6-7 years my investment will be 100% in profit if I do not cashout.
I'm getting a 10.5% Interest on my DPS , Which I save money in monthly basis. Interest rate drops and increases however it's always around 10% .

So if I invested on BTC I would likely get a 2x - 3x on next bull season. If I count it as 4 year cycle then to make next leg up I would need 4 whole years sitting my fund.

First let's talk about the depreciation of your currency over the said period of time, if your country has high inflation, then the purchasing power of your 11.5% would further decrease, let's say you fixed 200k the money at 150:$1 with your local currency, then when you get your 100% profit, the exchange rate is not at 600:$1 which means your currency devaluation has given the person who invested into bitcoin an additional 4X, making it 8X to 12X while you just sit at 2x from your 100% profit.

When thinking about investment, you should also put into consideration the strength of your local currency, if your country always have high inflation, then your profits in bitcoin does more than just increasing in value with respect to your initial deposit.