Saving money in crypto vs fiat currencies

[MarieArie]

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 would like to try out cryptocurrency savings. It's really time I started getting trackable returns on my savings. It would be appreciated if anyone could take his or her time to explain how things are done "cryptocurrencycally" . Smiles... Please ignore my usage.

 

[gammarays]

That's what I think about Ripple. I know so many people who have given up on the cryptocurrency because of the court case with, believing that it will mark the end of the coin thereby making investors to lose their money. Hopefully, such won't be the case.

Something good was happening to ripple before the court case that affected it. It's very good that the price of ripple is currently cheap so one can accumulate as much as possible and wait for it to boom. Ripple would have reached $1 or more by now if not for the court case. It's gradually becoming stable now and we pray it remains so.

 

[iori23]

Keep sharing

 

[giddy]

While fiat currencies are issued by the government of a particular country and deemed legal tender in that specific region,cryptocurrencies are not controlled or backed by any single entity. Consequently, they can be used anywhere in the world without restriction or regulation

 

[Osaz96]

I believe saving money in the both currencies are essential but one pays more than the other. If you save in fiat currencies you know that your money is safe for future purposes but you won’t necessarily get any returns on it. But if you save in crypto currencies you have to Ben careful to know when to sell your crypto profits and when not to

 

[adazeez1995]

Saving in cryto is wiser and smarter. Fiat currency is prone to devaluation as a result of inflation which causes the central bank to print more currency. But the number of crypto e.g bit coin id fixed, so inflation won't be a problem. In fact deflation, where the prices of goods and service fall is more likely to happen in a cry to world

 

[Thosynho]

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?

Saving money in crypto is viable than Fiat savings. Although crypto currencies are volatile because it could suddenly increase and as well decrease at any given time. However saving money in crypto could be as investment.

 

[Mujahid12]

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?

In the future, we will see people will use more digital currency, cryptocurrency will increase a lot and people will ignore fiat money and I think we should save in crypto from now ۔

 

[gammarays]

Saving money in crypto is viable than Fiat savings. Although crypto currencies are volatile because it could suddenly increase and as well decrease at any given time. However saving money in crypto could be as investment.

Yes even with the volatile nature of cryptos, I still prefer it to fiat currencies. Taking top coins like Bitcoin and Ethereum,even if they decrease in value,they'll bounce back and go higher in value. Saving in crypto guarantees a good return on investment over a certain period of time. It ensure insurers your money against inflation.

 

[Kiwi]

With the current rate of uprising in the crypto currency exchange platform, it will be easy to double your money if the coin rises. This is because cryptocurrency offers what fiat currency cannot offer and that is volatility. 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.

 

[Dowenship]

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?

If you realise that you are not going to be in need of the money for a long time, its better you save the money into crypto currency, at most your crypto currency would av appreciated even if a bit compare to useless babe where they remove charges, even borrow your money or savings.

 

[Richard92]

For me I prefer saving money with cryptocurrency than saving fait currency this is because I understand the procedure and how cryptocurrencies operates online the fait currencies. it's better for you as a businessman to work with what you understand then working with what you don't have a clue or knowledge about

 

[idhans]

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?

Saving money in the bank is a very bad deal especially in third world countries where all paper currencies are depreciating day by day. I can only save my money in greenbacks if at all I want to save it in bank. It is very important we have some of our savings in good cryptocurrencies.

 

[Ibrahim]

As for me I will rather prefer to save my money into crypto currencies than Fiat currencies and moreover I never heard about Fiat currencies and I never do anything but prefer crypto currencies because it's over best than Fiat and faster than fiat

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[Ghazi1402]

Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies. One danger of fiat money is that governments will print too much of it, resulting in hyperinflation

 

[lelakil3]

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?

Saving money in the cryptocurrencies is just like farming it than saving money in banks at any time can withdraw then spend more and more saving needs also the ability to have incrementation just like preparing for future outcome.

 

[Kelly5]

Saving money in cryptocurrencies or saving money in fiat currency. I will go for both when it feels convenient for me. You don't expect me to strictly go and save my entire finance in cryptocurrency wallet. Cryptocurrencies to me are strictly for business.

 

[Shayo]

I save in both but crypto is better, you get returns on your money on a steady while you may not get much or anything at all on your money in banks. Late last year bizdustry paid me around $19 btc and I left it in my wallet, when I wanted to withdraw last week, it was already over $30, I don't think banks can give that much returns over that short period of time.

 

[M Amin]

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?

if you want to save your money for a long time then it is ideal time for you to save in cryptocurrency and after 2 years you are saving must become 200% more than your current amount so saving in fair currency can never be good then saving in cryptocurrency.

 

[Ghazi1402]

Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies. One danger of fiat money is that governments will print too much of it, resulting in hyperinflation.