Keep money in bank or invest in Bitcoin?

[eenya00]

There is really no guarantee that investing in bitcoin do you really think that you deserve so you always have to do your own research most of us and find what is that it.

in my country investing on bitcoin is worth it than putting money in the bank, inflation has really eaten deep into our economy, the value of your money in your bank account has greatly reduced.

 

[Danny4cash]

Keeping money in the bank if for people who have no idea of what cryto trading is, keeping money in the bank only keeps your savings safe but Bitcoin trading keeps your money safe and when traded, profit is gained ,so keeping money as Bitcoin is more important than keeping money in the bank

You just the fact. Keeping money at bank make money safe, but it bring little or no interest at all. If you invested in good coin and sell at the right time, you'll make a lot of profit.

 

[Syldan]

To some extent, I will prefer to invest in crypto rather than savings in the bank though it's very risky but to some extent it has alot of profit when you are successful into it.

 

[Alisco]

That's the motivation to success,risk and when successful you make dreams reality. Invest in crypto and save also in bank but not all at ones in a single place

 

[AruneBend]

Keep in the bank. For bitcoin, it is short term or intermediate term business. It is volatile and probably not sustainable for long. It is also decentralised so if across the world , large amounts of it is removed, its value is affected keeping your money on the bank might be safer because it won't be volatile.

Keeping money in the bank is a terrible idea in my opinion, so I would rather invest in bitcoin or keep my money somewhere else, however, even though bitcoin is a very successful cryptocurrency you can still lose a lot of money so don't invest a lot

 

[Mighty]

Well I do believe that Keeping your money in Banks is not a good idea, if you have good experience on how to invest i think that will be a good idea, if you keep your money in Banks the Bank's will use your money and be making good profits with it.

 

[eenya00]

i would always prepare to store my money on crypto currency rather than saving it in a bank that would get affected by inflation rate and some other uncertainties that are associated with it.

 

[Chibson]

You should be able to share the money in adequate proportion and then invest a little in bitcoin and also saved some in the bank because you just never can tell.

I think this is very important and necessary. It is advisable to keep reasonable amount of money in your bank and invest in some certain percentage in Bitcoin.

 

[Sincerem]

Well if bitcoins is the only cryptocurrency in existent , I wouldn't have any problem but I will definitely invest in bitcoins as I will be much more better investing in Bitcoin than to save money in the bank except it is absolutely necessary.

 

[tyrim88]

Investing in bitcoin isn't a bad idea likewise investment in banks. Banks also have life roll on insurance in which the higher you place a bid ..the higher the interest as it rolls on and on.

It all depends on the investor,some persons would like to go for their money being kept in crypto,because it will appriciate faster when there is a bullish run,but it is also very risky to do that.

 

[Chibson]

in my country investing on bitcoin is worth it than putting money in the bank, inflation has really eaten deep into our economy, the value of your money in your bank account has greatly reduced.

Even bitcoin suffers from depreciation because of the volatility of cryptocurrencies. I think keeping your money in a stable coin if you have long-term plan of retaining the same amount in dollar is actually the best. You can keep it in a cold wallet

 

[Agbalagbaa]

I don't think investing on Bitcoin will be a good idea at the moment, Bitcoin is nicely moving to the downside, we are not expected to invest when it's moving down.

 

[Chibson]

in my country investing on bitcoin is worth it than putting money in the bank, inflation has really eaten deep into our economy, the value of your money in your bank account has greatly reduced.

Even bitcoin suffers from depreciation because of the volatility of cryptocurrencies. I think keeping your money in a stable coin if you have long-term plan of retaining the same amount in dollar is actually the best. You can keep it in a cold wallet

I don't think investing on Bitcoin will be a good idea at the moment, Bitcoin is nicely moving to the downside, we are not expected to invest when it's moving down.

if you plan on investing in Bitcoin for long term purpose, then doing so at the moment may not be a bad idea but you should use dollar cost averaging method to maximize profit.

 

[eenya00]

please can you explain further what is the meaning of dollars cost averaging method, i would really love to know and understand this concept and how it would help us in decision making.

 

[Chibson]

please can you explain further what is the meaning of dollars cost averaging method, i would really love to know and understand this concept and how it would help us in decision making.

Dollar cost averaging is an investment strategy that involves you investing some part of your money consistently over a period of time. if you have like $100 to invest in the crypto market you can be investing $5 every single week no matter the price of the coin.

 

[Immilash]

Keeping your money on banks is not a good idea, if you want to be Free from inflation I'll advise you to save your money in cryptocurrencies, that's just the best way to take care of it, but you have to be very careful because most of the cryptocurrencies are falling down.

 

[Syldan]

Actually keeping money in either bank, or the bitcoin investment, both have there advantages and disadvantages. banks offers you no interest in your deposit fund but bitcoin can do so is better to invest in bitcoin.

 

[Alisco]

Actually keeping money in either bank, or the bitcoin investment, both have there advantages and disadvantages. banks offers you no interest in your deposit fund but bitcoin can do so is better to invest in bitcoin.

Yes they all advantage. Banks keeps your savings intact and bear the lost when rubbed but no interest is added while Bitcoin investment it's all about savings and profit. Saving money in the bank is most helpful to whom have no cryto knowledge

 

[Agbalagbaa]

Even bitcoin suffers from depreciation because of the volatility of cryptocurrencies. I think keeping your money in a stable coin if you have long-term plan of retaining the same amount in dollar is actually the best. You can keep it in a cold wallet
if you plan on investing in Bitcoin for long term purpose, then doing so at the moment may not be a bad idea but you should use dollar cost averaging method to maximize profit.

Bitcoin is the leading cryptocurrency, the drop of Bitcoin is temporary, it just a matter of time, Bitcoin is dropping most people can afford to buy it, I think it will soon shoot up.

 

[Chibson]

Keeping your money on banks is not a good idea, if you want to be Free from inflation I'll advise you to save your money in cryptocurrencies, that's just the best way to take care of it, but you have to be very careful because most of the cryptocurrencies are falling down.

saving your money in cryptocurrencies is not safe either. Imagine people who invested into Terra Luna by now they would have lost a lot of money. The same thing with FTX token.