Saving money in crypto vs fiat currencies

[gammarays]

We all have money we don't spend. We either save the money in our local banks and can get interest on it over a period of time.
However, we have experienced a boom in crypto this year. Considering that major crypto currencies like Bitcoin, Ethereum, ripples have crossed 100% yield since the beginning of this year.
Bitcoin was the highest big name gainer this year. Even cryptos like xrp,Bitcoin cash and Tron has achieved above 30% return so far.
Crypto is volatile unlike fiat currencies so would you save your money in major cryptos or local banks from next year?

 

[WhiteHouse]

I'll rather save in Bitcoin.
Bitcoin is experiencing massive growth
By far the most popular digital currency is the progenitor of Blockchain technology. Bitcoin owns the lion’s share of the emerging market. Its trading volume is much larger than any other competing currency and its valuation is many times more than the second cryptocurrency of choice,

Additionally, Bitcoin’s exponential growth may portend good things for Blockchain currency in general.

 

[Sotherefore]

I will personally save my money in bitcoins with this there is an opportunity for it to grow in the nearest future which is a good return on my investment in that particular time, in the other and saving your money in the local currency will not grow it in the future as it should be

 

[Lagazine]

I prefer savings in cryptocurrency than fiat money saving. I like it because, the value of your cryptocurrency is not constant.

 

[Nurudeen]

Its better to save your money in Bitcoin this days. With the current rate of uprising in the crypto currency exchange platform, it will be easy to double your money if the coin rises

 

[Trexxxy]

I think crypto is better this days as can never predict how much it will grow or reduce.

 

[Josemendez]

I will prefer cryptocurrency to fiat currency savings .This is because cryptocurrency offers what fiat currency cannot offer and that is volatility .

 

[Variable]

If you're going to invest in crypto then keep in mind that you should keep buying chunks of it from time to time or even daily to benefit from the rise in value.

Lets assume you invest a 10$ on bitcoin today and After 3 months the currency rises up 300% in value
You'll have 100$ now, as you can see it is not that breathtaking of a jump ,
But if you have 1000$ dollars invested, in 3 Months if the currency rises up to 300% in value, you'll have 10000$

 

[Doncy]

I will personally save my money in bitcoins with this there is an opportunity for it to grow in the nearest future which is a good return on my investment in that particular time, in the other and saving your money in the local currency will not grow it in the future as it should be

 

[Kamon c4]

These days I don’t save money in the bank anymore. I’d rather save them in my bitcoin wallet even though the price of cryptocurrency isn’t stable and I might end up losing or gaining I feel that’s better

 

[Neel Dan]

I know modern cryptocurrencies are very popular in the field of investment and are very profitable but I don't like to invest in those cryptocurrencies. I would like to start my own business and want to invest in my business.In this way my money will also become saved.

 

[Ridorz]

I'm being using crypto currency to save my money and I will continue to use it, because I don't have problem with it.

 

[Alexandoy]

To be frank we have our money in the bank that we plan to buy a lot for building an apartment. The amount is just half of the estimated cost so we are still waiting for some more cash to come our way. With the crypto currency, I see it as a commodity that the value is being dictated by law of supply and demand. Real money or currency is backed up by the government while crypto is not. That is my point why I do not trust crypto currency.

 

[Ltherman]

We all have money we don't spend. We either save the money in our local banks and can get interest on it over a period of time.
However, we have experienced a boom in crypto this year. Considering that major crypto currencies like Bitcoin, Ethereum, ripples have crossed 100% yield since the beginning of this year.
Bitcoin was the highest big name gainer this year. Even cryptos like xrp,Bitcoin cash and Tron has achieved above 30% return so far.
Crypto is volatile unlike fiat currencies so would you save your money in major cryptos or local banks from next year?

I rather save my funds in an asset base where the interest yield is certain. Looking at BTC ETH and BNB recently and this portfolio alone can make one a good yield over the same duration of time one may have saved in the bank and gets a paltry interest rate.

 

[ahmedo24]

I rather save my funds in an asset base where the interest yield is certain. Looking at BTC ETH and BNB recently and this portfolio alone can make one a good yield over the same duration of time one may have saved in the bank and gets a paltry interest rate.

These assets you mentioned are very profitable ones if you invest heavily in them you will be making more money because there higher you invest the higher you earn.

 

[Ralphjoe]

Saving money in cryptocurrency is not ideal because you can lose a huge chunk of your money at anytime. Cryptocurrency wallets are good for investment purposes only and not for saving.

 

[chicnthin]

Saving in crypto currency is a great idea, but it comes with a great risk as it is not stable. Its value could increase or decrease without a warning.

 

[Golden_ear]

I will prefer to save my money I'm crypto than my local bank account. Saving money in crypto will make me to have more money if the price should rise. But saving in my local bank account, I will only just collect what is saved.

 

[Bookwormlux]

Most of my savings is in Bitcoin and with the recent surge in its price, I am sure going to leave it for a longer period. I don't trust my bank to give me any significant profit. Crypto saving is the best.

 

[WhiteHouse]

Indeed, the best explanation that springs up in my brain is 'No Political Risk.' I state this since Cryptocurrencies forms of money are not fixed to one nation or a specific government. They are protected from monetary or policy driven issues in a single nation and even provincially. Also, another extraordinary explanation is that it is a superior venture alternative. You may definitely realize that Cryptocurrencies forms of money can't be degraded by additionally being made. It is the interest and supply conviction that decides the cost of any digital currency, state Bitcoin. As more individuals use them their worth will really and at last increment.