Bank saving versus bitcoin wallet

[Sincerem]

Between Bank saving and Bitcoin Wallet, I prefer Bitcoin Wallet than bank saving because in Bank saving there are charges that are been deducted from your account but in Bitcoin Wallet there's none.

The only problem with bitcoins investment is the fact that it has a huge transaction fee which is one of the things that discourage me , except I am willing to invest in exchanges in which I can easily convert it to other cryptocurrency.

 

[tyrim88]

I have sat and wonder in search for answers but could not find any answer to my question.
What is the difference or in what way is bank better off than bitcoin wallet or vice versa?

These are different strokes for different folks,some persons would prefer to invest their money in cryptocurency and the wait for the value to fluctuate and then get their profit,while some conservatives would just decide to keep their money in the bank.

 

[Dannyjax]

I wouldn't save my money in BTC no matter how rich I am. The volatile nature of coins would make it lose value and make me broke. It's only on either USDT and BUSD that I can peacefully save my coin with no fear of it fall or going up. I do keep some money in my bank account too.

 

[Potuse]

The bank account and the Bitcoin wallet are two different thing entirely. it all depends on the choice of the individuals. For me, I would prefer to hold the Bitcoin because it is a digital asset that is good as a store of value. meaning, it will definitely increase in value in the future.

 

[Sotherefore]

I wouldn't save my money in BTC no matter how rich I am. The volatile nature of coins would make it lose value and make me broke. It's only on either USDT and BUSD that I can peacefully save my coin with no fear of it fall or going up. I do keep some money in my bank account too.

That is true , presently I have some money in cryptocurrency I would like to withdraw but because of the volatile nature I wouldn't want to touch that money for whatever reason because it is a pure loss to me.

 

[Bigron]

I have sat and wonder in search for answers but could not find any answer to my question.
What is the difference or in what way is bank better off than bitcoin wallet or vice versa?

Saving your money in a bitcoin wallet is much more rewarding than putting it in a bank given that the former scenario allows you to accumulate more money when the value of bitcoin goes up. Saving money in a bank means the money is static, and will even decrease due to the charges incurred for saving.

 

[Sotherefore]

Now , I would prefer to invest my money in the bank account that investing in bitcoins wallet because it is a waste of time if you are investing in bitcoins wallet and you are withdrawing everyday. The transaction fee is always high.
Now , I would prefer to invest my money in the bank account that investing in bitcoins wallet because it is a waste of time if you are investing in bitcoins wallet and you are withdrawing everyday. The transaction fee is always high.

 

[Robust]

Well the way things are in my country, I will prefer to save my own personal money in my crypto wallet than saving it in bank, there charges alone in the bank regularly change make your money drop in the bank.

 

[Nomad]

When there is inflation, the value of your fiat money in your bank account will go down just like bitcoin loses price when the market is down. However, when the market improves, bitcoin will shoot up, which does not happen with fiat money. Therefore, saving bitcoin is better than saving real money

 

[Riberet19]

If you have the money in the bank, that money plays under the rules of your country's fiat money, depending on the inflation and the monetary rules of that currency, it will be more or less advantageous for you to be in that currency, while having Bitcoin you play under the rules of the Bitcoin blockchain, its monetary policy, Its risk because it's an investment and on the other hand, in a certain way you get out of the fiat world, both have their pros and cons.