Bitcoin: Saving for Tomorrow, Starting Today

[Alphakilo]

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What do you think? Is Bitcoin a worthy part of future savings or not?

To be honest, there are many options for future savings that gives good return of investment. We have mutual funds and government bonds that gives upto 15 to 18% annual return. These are smart investment options which gives peace of mind, unlike a volatile asset like bitcoin. When I knew bitcoin newly and joined this forum, I hype it for all I do, but I am heading to 6 years of active investment in this industry, I can tell what works and what doesn't work.

If I have a huge fund to like $100k and above, I am going for mutual funds investment with steady annual return. But if I don't have a huge fund, only my petty earnings, I will use bitcoin DCA method to try and achieve similar result on the long run.

I think with a large portfolio one can actually invest in other notable assets for steady annual returns as you mentioned, but one reason why Bitcoin stands out is the fact of its DCA strategy for retail investors, the part of its ETF investment option for large pockets and the fact that it has the ability to increase in value and price overtime to bring a sizeable return after a long term holding plan.
Bitcoin acts as a smart savings tool for calculated risk, and one can still invest in it after securing other financial plans for real world uses.

[Orpichukwu]

Bitcoin is one of the best asset to to save for the future. Not only does it generate the highest profits, it also serves as bugger against inflation that is prevalent in fiats. This is why even the rich are massively accumulating Bitcoin now and some through ETFs

Accumulating and holding bitcoin can give you profit over time, but don’t make it sound like it’s the only asset that can give you its own type of profit; nothing is guaranteed, but it’s better off not using that highest profit as some stock and other assets might beat that sometimes. Even if it’s not guaranteed, don’t get me wrong when it comes to crypto and security. Bitcoin is top-notch, but I don’t like when it’s being overpraised in terms of profit.

[Kelvinid]

What do you think? Is Bitcoin a worthy part of future savings or not?

The same question many people ask when bitcoin itself was not that valuable, the time where most of us still doubt the potentials of bitcoin. But look at bitcoin now, the price is too expensive, lucky are those who trusted bitcoin early because they are probably making a fortune with bitcoin now.

Bitcoin has been worthy all throughout the past years, so most likely it will remain valuable in the future. Saving it and adding more bitcoin in our portfolio is the smartest thing to do, and hold them for long term as long as we want that way.

[Sanitough]

What do you think? Is Bitcoin a worthy part of future savings or not?

Yes it is. Those who have been saving bitcoin for years have already seen its real value and still continue to accumulate more not just to prepare for future emergencies and goals, retirement, but also to have something valuable that they can leave to their children and loved ones when the time comes they are no longer capable of bitcoin investment.

But let's not also forget to save some fiat, but maximize saving bitcoin because its the best asset I know that has an incomparable value, and not only that, its the only asset that will make us our own bank and be with our full custody and maximize security.

[Flipzo]

If you're saving with small regular buys, watch how you withdraw them. Every withdrawal to your own wallet creates a separate coin (UTXO), and when you later send everything in one transaction you pay for each of those inputs. Fifty small withdrawals can mean a noticeable fee when the network is busy. Either withdraw less often in bigger amounts, or consolidate them into one when fees are low.

[Stalker22]

What do you think? Is Bitcoin a worthy part of future savings or not?

What do you think we are doing here?  DCA in bitcoin is probably one of the only ways normal people can fight inflation that seems to rekt all of us every few years.  Traditional savings accounts with high interest rates are not a solution anymore since to buy food cost much more than it did a few years ago... thus, you can keep your money there if you want your buying power to decrease over the years.

Dont think about the get-rich-quick scheme anymore, but just as a long-term survival at this point.

[JiiBs]

What do you think? Is Bitcoin a worthy part of future savings or not?

The singular fact that, some countries at this time, like the US have taken up Bitcoin for its monetary reserve should actually mean something. It should indicate that if Bitcoin can be considered to be worthy enough for a reserve currency, anyone who is actively investing in Bitcoin today would be taking a page out of that play book and it’s actually a step to the right direction.

However, it’s important to treat the currency more like an investment and not have to withdraw from it with every chance you get. You wouldn’t be saving nothing for your future then.

[kawetsriyanto]

Is Bitcoin a worthy part of future savings or not?

Reading your description about Bitcoin, I know you are an experienced one in crypto investment.
Well, since Bitcoin has high volatility, it shouldn't be for saving but for investment. If someone wants to have saving, he needs to choose something that has a more stable in price/value. Storing money in banks or holding Gold seems a more realistic option. Meanwhile choosing Bitcoin, it should be for a long term investment. We know Bitcoin isn't for a short term holding, people usually hold for 3-4 years at least.

[Zoomic]

Becoming wealthy overnight is never the main benefit of accumulating Bitcoin gradually because that's not how it works, long-term accumulation also helps you develop a saving habit as well as influencing your mind to think beyond immediate consumption.

So if you're saving for the future, you also have to make plans for emergency funds that can provide immediate financial security when it becomes necessary.

Believing in Bitcoin is what we preach but do not invest in it with the same money that you might be forced to sell to retrieve when an immediate need arises, you might sell lower than your entry point and that doesn't make you a smart investor.

[Hamza2424]

Haha bro, of course it is worthy enough to get a place in our portfolio.

But acquiring it is just step 2, step 1 is making your mind. Step 3 is how to hold it safely for the long term. Because when you put your savings in BTC, you have to look after it yourself. If you think exchanges are safe, then a coin is only as safe as the exchange. Binance gets hacked, but they had SAFU. If they didn't, maybe we would have to wait for years like FTX to get our funds back, and by that time, their value would increase.

FTX mismanaged funds, but Binance prepared for this day. If we own the keys, we own the funds. Even if you own them in a self-custodial wallet, you have to use multisig ones so if hackers get access to your wallet, they won't be able to access the multisig funds, and by the time the news is out, you can move them to a secure position as well.

Now for step 2, I give only one advice. Do DCA. That makes everything easier.

[laspol65]

Yes, of course, Bitcoin can change your life through gradual savings, but there are some interests in it, such as the condition of holding it for a long time. If you invest in Bitcoin and wait for a short time, there will be no profit, but rather a loss, so to deal with this situation, you must follow a strategy. So that you can easily hold Bitcoin investment for a long time. Because Bitcoin only brings the most profit to patient people, so with the amount of money you have, buy Bitcoin little by little for the future and continue to move forward towards the future by maintaining the continuity of purchase.