Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: vs2014 on January 29, 2024, 07:20:21 PM
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
TBH, I will choose BTC in crypto currency than invest in Bank.
Bitcoin and crypto are very risky but also Hugh profit.
Every people want to gain the big profit, ,it's the fact.
But as crypto lover we should buy bitcoin and altcoin at the right time, when bearish..For now we can buy when dip and hold until bullish.
We also can do trading, If we have knowledge in trading in crypto.
The success investor is who people which can manage their assets and always reduce the risk or the loss.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
There's nothing being profitable with the use of the banks, when we are talking about profitablity, then it's all on bitcoin, we don't have to risk anything out than when we hold bitcoin as an investment, fiat currency has no return on holding it, instead it keeps getting being affe by the role of inflation on the financial economy system controlled by the government and every other centralized institutions or regulatory bodies, bitcoin is all about freedom and profitability while bank and fiat are direct opposite of them all.
-
Low profit from banks? Naah, the right words to use there is very low profit, and that is if you consider using their saving option. Problems within the banks are very stressful and since you money is on the watch of a third party, that means you savings are not safe. Traditional banks even benefits from serving us by removing and aggreed amount for maintenance or use of their sevice. However Bitcoin holding requires just your wallet and seed phrase for you to ba able to hold your coin in your watch without the interference of any third party. And Bitcoin which was created for the purpose of digital currency, now became one of the world most invested currency. Even if some country still don't accept it, it is still leading.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
I will respond outside of the box and say both since having Bitcoin guarantee a good ROI in the future and banks give you liquidity even if it isn't that much.
I want to just precise that, depending from the country, the profit you got from the bank might be less than the inflation rate so you are getting money but the overall value of that money is under what used to be year or couple of years ago..
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Bank investment is literally not for someone like me, because I don't even use bank service ;D. My experience with my bank a year back wasn't a pleasant situation, where I had to wait in a queue for more than 8hrs just to gain access into the bank. I remembered how I withdrew all my funds because of that incident.
Clearly, risk is attached to Bitcoin investment, which is worth taking. Though it's not a win-win situation, but we still learn the principles of patience which makes us invest in it.
I will always choose Bitcoin investment over bank.
-
I do both. I appreciate low risk safety= banks and high risk = crypto
I have bank funds
I have a 401k pension fund.
I have T-bills
I have
BTC
LTC
DOGE
ETC
GRIN
ZIL
HnT + IoT + Solana
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
In the case of banks, it must be accepted that it is safe, but many times there are complaints of money embezzlement from the banks, but in this case, the investors definitely have the possibility of getting the money back. But if you emphasize on inflation then you will not support the bank in any way.
On the other hand, investing in bitcoins will surely give you more profit and if inflation happens due to some reason, investing in bitcoins will not cause this problem to you. Moreover, if you invest in Bitcoin and keep your Bitcoin well stocked in Hardware wallet, then of course if the market increases, you will have the possibility of getting many times more profit than keeping money in the bank.
-
What kind of bank products are risk-free and guaranteed to give you returns? Even the most conservative investment option on my bank has a disclosure related to the risk of buying their investment products. Not to mention some banks are proven to run faulty products which led to a bank run in the past. I'd still advise caution even if you use one of the top banks in your country. On top of that, inflation or deflation will affect your investment value whether you like it or not.
Personally, I choose both. No point in choosing one over the other since I still need access to fiat while hoping that crypto or BTC can protect my wealth from inflation and stuff like that. Even if we enter a bear market right now, my portfolio is still going to be better compared to if I stick with bank products while the inflation rate in my country is quite high.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
For bank Investment according my country situation
Risky
Low profits
No guarantee for Profits
For bitcoin investment
Government doesn't permit to invest in bitcoin
For gold investment
High profits
Low Ricky
-
Actually, banks and cryptocurrency are two things that cannot be separated for me personally at this time, both banks and bitcoin are equally important today for use in daily life. For cryptocurrency trader or holder Bank is most necessary needed for deposit and withdrawing of cryptocurrency fund and I don't think how possibilities for selling cryptocurrency without use Bank as third party.
Personally I choose Bank as place for saving my money and bitcoin or cryptocurrency for trading or holding, when withdrawing cryptocurrency assets use local exchange market and withdraw to the bank.
-
I now convert the money into bitcoin instead of keeping it in the bank. The bank will deposit my money and for depositing my money they will deduct some amount of charge in this case the amount of money I deposit will remain in the bank but my money will never grow but if I invest in Bitcoin there is a lot of potential for money growth. I have not stopped keeping money in the bank, I keep the amount of money that can be spent in the bank and try to meet the needs by withdrawing money from the bank when needed, but I convert the rest of the money into Bitcoin. By converting the money into Bitcoin, I have an expectation that I may get a good return on this investment in the future.
Only those who actually invest can anticipate the future.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
My advice is that you should invest on the one that makes you feel more comfortable.
If you actually feel that you can handle the risk of investing into Bitcoin, then go ahead and do so.
What you must know is that every form of investment has their risk attached and before making an investment, you have to understand the risk and agree with it. Another thing is that the higher the risk of an investment, the higher the profit, but while investment, it should not just be on one asset. Diversify your investment so that if there is any problem with the other one, you can still obtain profit from the others.
-
I don't think you are investing when your money is stored in your bank account, rather it is losing its value as a result of inflation and poor economic situation.
The BTC network and the traditional banking industry are very different, BTC is decentralized, the bank is centralized. If you have your money in BTC, you control it because the network is censorship resistant and permissionless, but if it is in a bank, it is controlled by the bank and your money can be conficated. You must have some of your money in the bank anyway, for spending, so it is up to you to decide the portion to store in the BTC network and in the bank.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
I have small investment in Bitcoin and also have some money saved in my bank account. I know that Bitcoin can actually make investor to have huge profit when they hold it for a very long time but I also need to save some cash in the bank so that if any needs arise, I can easily spend from the cash in the bank, I will not have to sell my Bitcoin.
If you want to invest in Bitcoin, it is a wise decision but never invest all your money in one asset. You can start by buying Bitcoin in little fraction and you will accumulate a large amount of it.
-
Between Bitcoin and Banks I feel most comfortable investing in Bitcoin. Nowadays I have seen many bank failures and there is fear of losing money. But in the present era Bitcoin is the only reliable currency in this virtual currency world where you can invest a lot of money and it is a risk free currency.
-
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
Since last two years to this time, the fiat we spend in my country has decreased more than 2 times. What I can buy with the certain amount of fiat in my country last two years, I need two or more of the amount to buy the same thing now. So I can not call bank investment profit. Or you should expatiate on it and be specific on the investment that you are talking about. If it is bank savings, I will be foolish to do it.
Bank and government fiat are just a means to use inflation to scam people. If you are not into business that requires fiat, no need of investing in it. Bitcoin is better and you will be in control of your money. But make research about it and not invest in bitcoin when the price has increased so significantly in a way that analysis will predict bullback for some period of time.
-
Bank and government fiat are just a means to use inflation to scam people. If you are not into business that requires fiat, no need of investing in it. Bitcoin is better and you will be in control of your money. But make research about it and not invest in bitcoin when the price has increased so significantly in a way that analysis will predict bullback for some period of time.
Invest in bank is low profit, I don't think to invest in there.
Better invest in crypto, especially in bitcoin.
They said it's more risky, but also more profit.
Bitcoin and altcoin are the best investment now.
I have invested in bank and gold but no so profitable as crypto.
Crypto is the future investment.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Keeping your money in the bank is not an investment except you're a shareholder. Investment is starting a business, buying real estate and landed properties, buying and holding digital assets, acquiring precious metals etc.
Anyday, I'd choose Bitcoin investment over saving my money in the bank. The bank collects your money and gives you little or nothing. The money saved may not really have value over time because of high inflation rate, but Bitcoin on the other hand, is an edge against inflation.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Haha, nice very nice short-sighted view but it's cool.
On my end this is not the debate of today, from years of the evolution of Bitcoin people have given their thoughts on the Banks vs Crypto narrative, and most of the time people just because of centralization hate banks. Crypto vs Banks on the ground reality what was the purpose of the banks to provide the financial services to end users to make the trades more convenient for them and in the end they just ended up as Bussnies to make money Millions of Banks weren't enough to make system digital and provide the financial services efficiently in transparency standards.
At the same time, Bitcoin was an easy approach for the end user to make up their payment fully in their control, and with the evolution of DeFi haha, banks are no longer needed with DAO's and AMM's there is a more efficient convent and transparent system for the users to avail anay financial service they need.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
I only use the Bank to receive my salary from the company and after that I immediately withdraw it and use it for necessities and the rest for investment.
And if I have to choose about investment then the answer is I would prefer to invest in Bitcoin. Because if in the long run and I keep my money in the Bank then without us realising the value of money will continue to decline due to inflation.
And Inflation does not reduce the amount of money but its value is reduced. Even in countries that are experiencing high inflation many of them withdraw their money from the bank. and after that they buy or exchange their money for Gold and BTC. Correct me if I am wrong in the information presented.
-
But in the present era Bitcoin is the only reliable currency in this virtual currency world where you can invest a lot of money and it is a risk free currency.
I don't agree that BTC is risk free, some people buy BTC and store it in a custodial service, many times these services confiscate people's money or they get hacked and lose it. Take note that even BTC that is stored in your self custody is not 100% safe, you can make a mistake someday and an attacker would successfully compromise your device and steal your coins. BTC is safe if you know what you are doing and have great opsec, but it is not free of risks.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
I still consider banks risky given the fact that it is affected by inflation. Bitcoin on the other hand is affected by manipulation but we all know that it won't last long. I feel using banks fiat comfortable when doing everyday life transactions. With Bitcoin, people were getting split by the aspects of Bitcoin being used as an investment or as a form of digital money which in fiat you can't. To be honest I got no bank accounts right now it's already been closed years ago but instead I have Bitcoin on me.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Well, I don't consider money in the bank an investment, it should be considered a reserve with low risk and lower return than BTC. Most of my money is in the bank: I need to pay bills and have a reserve for emergencies.
BTC has been a better investment than gold and stocks over the past year and over the past decade. I invest in BTC for high profits. Sorry but I don't count BTC as a store of value, it's a financial instrument 😅
Therefore: to me, bank is more suitable for reserve needs, BTC is more suitable for investment needs ^^
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
The scalability and censorship resistance of bitcoin will make me choose bitcoin over banks, because bitcoin is the opposite of fiat. Banks will use your money for business by loaning it out and they will make huge profit but at the end, they will give your very little profit from what they made. When you keep your money in the bank, you might be given conditions on the amount of transactions that you can make. Bitcoin is now mostly used as an investment because of the good profit that it generates over time. Nobody can know if you have bitcoin or not. The risk of being your own bank is limited, when you use a cold storage wallet to save your bitcoin.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
In the banking system, a person cannot do any transaction on a bank day. The amount of money that the bank will earn will be lost due to inflation. The bank will act as a third party in the transaction due to which it will have to keep a commission.
Bitcoin on the other hand is a highly volatile currency making it a very risky investment. Anyone can transact his bitcoin any day he wants. Investing in Bitcoin is long-term and has the potential to make huge profits. I will definitely choose Bitcoin because it can help me reach my destination. Which is not possible by conventional bank.
-
The scalability and censorship resistance of bitcoin will make me choose bitcoin over banks, because bitcoin is the opposite of fiat. Banks will use your money for business by loaning it out and they will make huge profit but at the end, they will give your very little profit from what they made. When you keep your money in the bank, you might be given conditions on the amount of transactions that you can make. Bitcoin is now mostly used as an investment because of the good profit that it generates over time. Nobody can know if you have bitcoin or not. The risk of being your own bank is limited, when you use a cold storage wallet to save your bitcoin.
The rise and fall in the price of Bitcoin which occurred due to bad news before the ETF was received was a very good moment to buy Bitcoin at a cheap price but it seems like it was arranged by the world currency authorities who tried to make the price collapse briefly to buy at a cheap price. and after that the price was increased again so that they quickly made a profit.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
I think you should replace the "low profit" in there to "Loss", or to be more mild on the banks, say "possible loss", because with the way fiat currencies are losing their value and purchasing power, I do not see how any body can make any profit from investing in a bank, which is, leaving their money in their bank account account to yield interest for them.
Lets say for instance, a bag of price is being sold for $40 in January, and you kept like $500 in the bank which you hope to withdraw by December, when December finally comes, you discover that your $500 is now $550, you take it and go to the market, only to discover that the bag of rice that was sold for $40 in January is now being sold for $100 by December same year, and this is how other things in the market have added prices too, at the end, you discover that you made no single profit from that money you kept in the bank, but only losses.
I would personally say that it is only unwise people that are leaving their money on the bank for interest.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Keeping money in the bank is very risky in my country at present because banks from my country are going bankrupt all the time. People from my country don't like banking system anymore, people keep money in their house and those who are involved in cryptocurrencies invest in bitcoin or altcoin, so bank in my country is not risk free but more risky than bitcoin.
I never trust banks and keep money in bank but I invest money in ethereum between bitcoin and altcoin. I am investing in cryptocurrency instead of keeping money in bank but investing Bitcoin in cryptocurrency seems more risk free to me than bank and I expect to get huge returns from here anytime which I can never do in bank.
-
Bitcoin, of course. Below are some examples of why I think so:
- Anonymity;
- Ease of use;
- Great profitability;
- No fear of anything happening to it;
- Faith in the future;
Opinion about banks:
- No security guarantees;
- Constantly unstable %;
- Realization that funds on the card = not my funds, but the bank's.
P.S. My opinion on this, if you think otherwise, your perfectly entitled. We're all different and that's perfectly normal. ???
-
-snip-
I never trust banks and keep money in bank but I invest money in ethereum between bitcoin and altcoin. I am investing in cryptocurrency instead of keeping money in bank but investing Bitcoin in cryptocurrency seems more risk free to me than bank and I expect to get huge returns from here anytime which I can never do in bank.
Is that really the case?
Whether you have never connected with a bank or never had an account with a bank.
If that is indeed the case, then how do you use your own country's currency if not using a bank.
Although I am skeptical about storing money in banks, but there is no other way to avoid banks completely.
Maybe you invest in Bitcoin and Ethereum, but eventually you will need a bank to withdraw those profits.
-
-snip-
I never trust banks and keep money in bank but I invest money in ethereum between bitcoin and altcoin. I am investing in cryptocurrency instead of keeping money in bank but investing Bitcoin in cryptocurrency seems more risk free to me than bank and I expect to get huge returns from here anytime which I can never do in bank.
Is that really the case?
Whether you have never connected with a bank or never had an account with a bank.
If that is indeed the case, then how do you use your own country's currency if not using a bank.
Although I am skeptical about storing money in banks, but there is no other way to avoid banks completely.
Maybe you invest in Bitcoin and Ethereum, but eventually you will need a bank to withdraw those profits.
What happened is that when we think about the bank and what we can do we are very limited, yes, a bank is required to withdraw money, but we all know that in almost the entire world things are like that, in the case of the Where I live, banks are not really useful because they deal with foreign currencies and the government pays officials with local currency, and that is not really useful, no one or almost no one wants that, the only thing that is useful is to pay services and a series of things that are local style, the rest is useless, so in that case it is not worth withdrawing money from the bank, but rather it is much better to transfer whatever it is in bitcoin, usdt, to another person, and for that person to give the money in cash, it is much more effective, of course, and then it is easy to convert it to cash like USD, whatever, but that is the way, it is a convenience for that reason.
I do understand that these things are like that and that there are many people who think like that, but you must have the contacts that can give the person the money in cash, of course it comes in with a supply and demand price, and that is the amount of btc or usdt that he tells another person and there is a negotiation.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
BTC investment is good because it has benefits, you get percentage in the bank, which is not good, BTC is good because you can always get rich and what Chances are high and the only difference is that you can't afford to be cheated by what you have in the bank and what you have in BTC can cheat you, that is, the price just keeps going up and down, that's all. There is no difference, but still if there is more money, then there is a difference of loss in BTC as well as profit. In my opinion BTC is for future maker and bank is only saving the money which you have. Because BTC is digital currency any time it can change your life.
-
Even though I am in bitcoin world a lot, I would have to say bank is more comfortable right now. You do not wait for transfers, you do not pay for transfers, you could wire almost all around the world, and it is accepted everywhere you go and pay with the card bank gives you. Bitcoin still has a long way to, it would never be as debt oriented as banks, but at the same time we need to reach to a point where it is much faster and much cheaper to do transactions, also it is not accepted in many places, most of the time you have to pay with fiat, because almost no place accepts crypto payments.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Well they say "NO RISK NO GAIN" so I think it's quite clear the option am going with and I choose it not because am in a crypto currency forum or trying to be byass but we all know that crypto more especially Bitcoin with all its volatility it's still far more better than bank savings. Wth Bitcoin there is financial freedom and you are the owners of your bank and when its comes to profits, no bank savings can get you the amount of profits that Bitcoin investment can get .
-
-snip-
I never trust banks and keep money in bank but I invest money in ethereum between bitcoin and altcoin. I am investing in cryptocurrency instead of keeping money in bank but investing Bitcoin in cryptocurrency seems more risk free to me than bank and I expect to get huge returns from here anytime which I can never do in bank.
Is that really the case?
Whether you have never connected with a bank or never had an account with a bank.
If that is indeed the case, then how do you use your own country's currency if not using a bank.
Although I am skeptical about storing money in banks, but there is no other way to avoid banks completely.
Maybe you invest in Bitcoin and Ethereum, but eventually you will need a bank to withdraw those profits.
I have a bank account but I never deposit money in my bank account because it is too risky to keep money in bank in my country. My country's finances are so bad that my country's money is constantly disappearing from the banks and the banks are going bankrupt. But I use Bikash or cash mobile banking system to fetch money by selling cryptocurrency in my local currency from where I can withdraw money instantly. To use mobile banking I have to pay a fee of 15 taka per 1000 taka in Bangladeshi taka. Although using mobile banking incurs higher fees, I can pick it up and put it away in no time. Not only me, many people in my country don't deposit money in banks now for fear of losing money.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
You are wrong about BTC investment, because if you are investing in BTC then it means you are holding your funds in BTC for a longer period of time, for say, around 5 years. And if that's the case then your investment is not risky at all, the value of money will increase with time, not because BTC is a deflationary coin, but because the value of dollars will increase, which you will have used to buy BTC.
After that, the price of BTC will increase and that's so sure due to the scarcity of BTC. So you will be making a profit from 2 assets. While in banks, you will give your money and get only short profits including taxes. While in BTC there are no big taxes., only have to pay tax at the time of withdrawals or deposit. Keep one thing in mind that investing in BTC will not make you rich anytime. It's not a get quick rich scheme.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Investing in Bitcoin is very risky but it should also be remembered that those investments with higher risk have higher profit potential. Depositing money in bank is safe but in that case the profit is very less. It gradually decreases. Keeping money in the bank will not be of any benefit if the amount of interest is not increased, but the value of the money kept in the bank will decrease due to constant inflation. But investing in bitcoins has no chance of inflation and therefore no chance of devaluing bitcoins. If you keep money in the bank, there is an environment to embezzle that money, but in the case of Bitcoin, there is no chance of hacking if the Bitcoin is stored in a non-custodial wallet.
-
You are wrong about BTC investment, because if you are investing in BTC then it means you are holding your funds in BTC for a longer period of time, for say, around 5 years. And if that's the case then your investment is not risky at all, the value of money will increase with time, not because BTC is a deflationary coin, but because the value of dollars will increase, which you will have used to buy BTC.
After that, the price of BTC will increase and that's so sure due to the scarcity of BTC. So you will be making a profit from 2 assets. While in banks, you will give your money and get only short profits including taxes. While in BTC there are no big taxes., only have to pay tax at the time of withdrawals or deposit. Keep one thing in mind that investing in BTC will not make you rich anytime. It's not a get quick rich scheme.
Talking long term holding or saving money bitcoin has much benefit than bank, you put or save money in the bank until five years later the amount your money is the same and have to pay tax in monthly. Difference when saving money in bitcoin assets without have to pay taxes and get small amount for withdrawing fee later with bitcoin price potential increasing drastically. Don't forget with bitcoin have risk when price dropping your saving money increasing down, its happen each other comfortable for saving money in the bank or bitcoin.
Seems OP want to share about function of bitcoin and bank are related each other for us bitcoin or altcoin trading want to withdraw crypto assets need bank.
-
~
Seems OP want to share about function of bitcoin and bank are related each other for us bitcoin or altcoin trading want to withdraw crypto assets need bank.
Of course bitcoin and bank are related each other for us.
If we want withdraw crypto assets need bank.
But OP also asked which comfortable between BTC and Bank ?
As crypto lover we comfort in bitcoin for investment. If we talk about investment.
Bitcoin is more profitable than banks.
-
-snip-
so in that case it is not worth withdrawing money from the bank, but rather it is much better to transfer whatever it is in bitcoin, usdt, to another person, and for that person to give the money in cash, it is much more effective, of course, and then it is easy to convert it to cash like USD, whatever, but that is the way, it is a convenience for that reason.
Yes this is a P2P or OTC method face-to-face, which is now widely used, even I use it on exchanges like binance for P2P methods.
however, no one is willing to buy OTC and give cash.
No cash is used because in my country the practice is prohibited, there are no payments in crypto or anything like that, keep using Fiat.
-
Cryptocurrencies potential to revolutionize the global financial system makes it difficult to underestimate their future impact on banking, from blurring the lines between decentralized networks and centralized institutions to democratizing access to financial services. Currently, Bitcoin is still in the early stages of adoption in the banking industry. But the point of no return has already been passed.
-
This will depend on our needs and goals.
But one thing is certain, there is no zero-risk anywhere, even if it is in a bank, there will still be risks. But maybe the risk is much smaller than in crypto.
In my opinion, if we hope to invest in it, I would prefer crypto to banks. Banks are only used as a medium for transactions, but not for storage. However, we still have to diversify our financial funding. We can invest it in our willing life in several things, but not saving in the bank. if I'm like that. In crypto, we have to be smart in choosing which crypto is worth it, yes Bitcoin, without a doubt.
-
A Senior Member is saying Bank is risky free? Okay which of them are you choosing because we have to see your choice then we also decide to choose our own or to follow you. And Op this is a straight forward answer to your simple question. And others or everyone in this forum will give you the same answer and I will not be exempted. I will use bitcoin because the risk in bitcoin is very interesting.
-
A Senior Member is saying Bank is risky free? Okay which of them are you choosing because we have to see your choice then we also decide to choose our own or to follow you. And Op this is a straight forward answer to your simple question. And others or everyone in this forum will give you the same answer and I will not be exempted. I will use bitcoin because the risk in bitcoin is very interesting.
Every bank in the world will have a very high risk because when all the customers of that bank withdraw all their savings, it will cause the bank to collapse instantly. There have been many cases like that that have happened in various parts of the world; even in my country, there are many cases like that. So for me, it is better to secure assets in the form of cryptocurrency because they can be stored in a wallet like Electrum or others without any monthly admin fees rather than storing money in the bank with too much risk.
-
Talking long term holding or saving money bitcoin has much benefit than bank, you put or save money in the bank until five years later the amount your money is the same and have to pay tax in monthly. Difference when saving money in bitcoin assets without have to pay taxes and get small amount for withdrawing fee later with bitcoin price potential increasing drastically. Don't forget with bitcoin have risk when price dropping your saving money increasing down, its happen each other comfortable for saving money in the bank or bitcoin.
You are right, risk is always involved either its banks or decentralized platforms, but I prefer to go with a decentralization platform because we own our money and even if the money is decreasing there is still a chance that it will start to gain value again. Or isn't it? Newbies are stressed when they see their money's value going down due to some dumps. We are not doing future, we are doing spot and we will have the same amount of satoshis in our wallets so there is still a chance that the price could increase and we can make the profit as well.
Seems OP want to share about function of bitcoin and bank are related each other for us bitcoin or altcoin trading want to withdraw crypto assets need bank.
You are right here too because banks have become a part of our lives and we can't ignore them and avoid them.
-
It depends on how you compare bitcoin and bank, you can just think about what you want to do it for, if you just want to save your money then bank is better and if you want to increase it then bitcoin is better but actually there is a third option which is real estate and it can be put in the middle between bitcoin and banks as it is more reliable than bitcoin and brings much more profit than bank.
-
It depends on how you compare bitcoin and bank, you can just think about what you want to do it for, if you just want to save your money then bank is better and if you want to increase it then bitcoin is better but actually there is a third option which is real estate and it can be put in the middle between bitcoin and banks as it is more reliable than bitcoin and brings much more profit than bank.
Bank is safer but bitcoin is more profitable to increase our money, if we buy bitcoin and hold several years, we will gain big profit than bank.
If we bought Bitcoin last year when the price was below 20K, now we would have made a bigger profit from the bank. especially if we survive until next year when it is bullish. Bitcoin price will soar
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
In my opinion, you're right.
Bank is more safer than Bitcoin or crypto but every people want to gain more profit. It's the reason why many people who know about crypto prefer invest in Bitcoin and altcoins than bank. They want be a rich man, of course we should invest in big money.
-
In my opinion, you're right.
Bank is more safer than Bitcoin or crypto but every people want to gain more profit. It's the reason why many people who know about crypto prefer invest in Bitcoin and altcoins than bank. They want be a rich man, of course we should invest in big money.
If we compare which more safer between bank and bitcoin, of course bank is safer. But if you asked which more profitable between both ? bitcoin is the answer. Bitcoin is suitable for hold. We can hold our assets in bank for several years, we wil gain low profit. It's certainly annoying. It's why many rich people prefer invest in bitcoin.
-
It depends on how you compare bitcoin and bank, you can just think about what you want to do it for, if you just want to save your money then bank is better and if you want to increase it then bitcoin is better but actually there is a third option which is real estate and it can be put in the middle between bitcoin and banks as it is more reliable than bitcoin and brings much more profit than bank.
Bank is safer but bitcoin is more profitable to increase our money, if we buy bitcoin and hold several years, we will gain big profit than bank.
If we bought Bitcoin last year when the price was below 20K, now we would have made a bigger profit from the bank. especially if we survive until next year when it is bullish. Bitcoin price will soar
I agree with you, that's what I do, but I also prefer to keep money in the bank, you can't use all the money you have, you should always have a safety cushion in real currency and some preferably in cash (paper) money).
-
I agree with you, that's what I do, but I also prefer to keep money in the bank, you can't use all the money you have, you should always have a safety cushion in real currency and some preferably in cash (paper) money).
Majority of my money is kept in Bitcoin investment while I hold only few fiat that I can easily use for now to make payments based on their requirements. Despite the risk in crypto I still believe in Bitcoin and that has been my strength to accumulate more than ever. And the fiat currencies are failing due to inflation while Bitcoin keeps pumping, even after little dumps the price still increases. For now crypto hasn't been properly regulated in my country but the restriction in crypto transaction from banks have been removed. So if it gets properly regulated, we'll be making crypto p2p transaction like that of El Salvador.
-
I agree with you, that's what I do, but I also prefer to keep money in the bank, you can't use all the money you have, you should always have a safety cushion in real currency and some preferably in cash (paper) money).
In my opinion, storing your funds on the blockchain is much safer than storing them in a bank. For example, I use the bank only for payments and storing a small amount of money. In any case, funds can be stored in a USDT without worrying about the safety of the value of your assets. Plus, I value financial independence.
-
I agree with you, that's what I do, but I also prefer to keep money in the bank, you can't use all the money you have, you should always have a safety cushion in real currency and some preferably in cash (paper) money).
In my opinion, storing your funds on the blockchain is much safer than storing them in a bank. For example, I use the bank only for payments and storing a small amount of money. In any case, funds can be stored in a USDT without worrying about the safety of the value of your assets. Plus, I value financial independence.
If you feel storing your fund in blockchain is more safer than bank , you can do.
But I think bank is more safer and we can use our money to do payment. Because we all know, crypto didn't allow to be payment method at several countries.
It's just my consideration.
-
So far, I don't have much money because I'm just a garment factory worker, my salary from working as a factory worker and on my credit card is always used up to buy household equipment, food and living necessities.
So, I don't have much money saved in the bank or on a credit card, maybe my life is sad but this is a fact of my life.
I have a little Bitcoin from the campaign and I haven't sold it yet because I'm trying to collect it so that when it gets expensive I can buy a house.
I prefer Bitcoin for investment and banks for storing money, as the OP said that Bitcoin can make us rich at any time and banks can only be a third party security for our assets.
-
I agree with you, that's what I do, but I also prefer to keep money in the bank, you can't use all the money you have, you should always have a safety cushion in real currency and some preferably in cash (paper) money).
Majority of my money is kept in Bitcoin investment while I hold only few fiat that I can easily use for now to make payments based on their requirements. Despite the risk in crypto I still believe in Bitcoin and that has been my strength to accumulate more than ever. And the fiat currencies are failing due to inflation while Bitcoin keeps pumping, even after little dumps the price still increases. For now crypto hasn't been properly regulated in my country but the restriction in crypto transaction from banks have been removed. So if it gets properly regulated, we'll be making crypto p2p transaction like that of El Salvador.
I keep in fiat money a little but only the most normal currency like EURO, which will not ever fail as it is not the local currency of one country but the currency used by dozens of countries, I also have dollars and local currency, I say all this to the fact that you should not keep everything in one basket, you should always distribute the money correctly.
-
-snip-
You are right, risk is always involved either its banks or decentralized platforms, but I prefer to go with a decentralization platform because we own our money and even if the money is decreasing there is still a chance that it will start to gain value again. Or isn't it? Newbies are stressed when they see their money's value going down due to some dumps. We are not doing future, we are doing spot and we will have the same amount of satoshis in our wallets so there is still a chance that the price could increase and we can make the profit as well.
It's true, whether a bank or a decentralized platform always has risks because everything related to money definitely has risks. But a decentralized system allows us to be able to manage our own assets and transact them wherever we want. It allows us to be able to buy, sell, and hold as long as we want without having to worry that the asset will be taken away if the platform collapses.
But we also still need banking, because our various needs still depend on banking, whether for daily transactions or borrowing for our financial needs, so we cannot ignore banking either.
-
Banks may be safer in some ways, but I always like to think outside the box. When I invest in a banking product I know that the profit will be low, so the risk is also low, but for me that is not the most important thing. From my point of view, the most important thing is what the bank uses my money for, where it invests it. In my country many banks invest in the arms industry and that is something I don't like at all. Since I have never liked banks, and they are (and will be) the cause of many of society's problems, I prefer Bitcoin and the freedom it offers me.
I know that Bitcoin and cryptocurrencies in general are riskier compared to banking products, but it is a risk that I take personally and no one decides for me.
-
It's true, whether a bank or a decentralized platform always has risks because everything related to money definitely has risks. But a decentralized system allows us to be able to manage our own assets and transact them wherever we want. It allows us to be able to buy, sell, and hold as long as we want without having to worry that the asset will be taken away if the platform collapses.
But we also still need banking, because our various needs still depend on banking, whether for daily transactions or borrowing for our financial needs, so we cannot ignore banking either.
For me, when you have a lot of money and know how to trade properly and correctly, only trade using the buy-then-save method, the risk is smaller than in forex trading, such as future trading and others. So far, each person's economic conditions will always be different, so I mentioned it at the beginning only for people who have a lot of money and will not use that money in the near future.
-
It's true, whether a bank or a decentralized platform always has risks because everything related to money definitely has risks. But a decentralized system allows us to be able to manage our own assets and transact them wherever we want. It allows us to be able to buy, sell, and hold as long as we want without having to worry that the asset will be taken away if the platform collapses.
But we also still need banking, because our various needs still depend on banking, whether for daily transactions or borrowing for our financial needs, so we cannot ignore banking either.
For me, when you have a lot of money and know how to trade properly and correctly, only trade using the buy-then-save method, the risk is smaller than in forex trading, such as future trading and others. So far, each person's economic conditions will always be different, so I mentioned it at the beginning only for people who have a lot of money and will not use that money in the near future.
I think banks and bitcoin are two different things and both have advantages and benefits. Banks are more usable for us to make daily payments, while Bitcoin in some countries can only be used for investment, not for payments.
-
I think banks and bitcoin are two different things and both have advantages and benefits. Banks are more usable for us to make daily payments, while Bitcoin in some countries can only be used for investment, not for payments.
Yes, you are right and Bitcoin will not work with any bank and vice versa. So I hope you can be wiser in distinguishing between Bitcoin and banks. Banks are only a bridge to make withdrawals or deposits to an exchange that can be used for Bitcoin transactions.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
My choice is BTC comparing the amount of profit I will gain for it for years then the bank, bank profits and interest rate are low considering the country, Bitcoin is the best decision.
-
I think banks and bitcoin are two different things and both have advantages and benefits. Banks are more usable for us to make daily payments, while Bitcoin in some countries can only be used for investment, not for payments.
Which means we can't neglect the importance of banks in our society, at least for now. Citizens don't need to understand the technicalities behind ATMs before learning how to make use of them.
Aside from the fact that Bitcoin in some countries hasn't gained popularity, underdevelopment in the IT sector happens to be another disturbing factor. Some people are not even conversant with certain internet of things, which will definitely have an effect on their usage of Bitcoin.
-
Both of bitcoin and bank are comfortably for my self and I take benefit from each other service trough bitcoin as investment way to earn much profitable in the future then Bank become the most secure place for saving money. I can't leaves or choose one of Bank or Bitcoin because both of them have the same benefit and the same most important, I don't think have ideas without Bank how to make deposit and invest in bitcoin.
Its difficult how to withdraw bitcoin fund to be fiat without using Bank service during bitcoin is not legal currency transaction in many countries and only allow for investment assets only.
-
I utilize both currently, and both are indeed very useful for me to survive.
Bitcoin is able to give me freedom in transactions and also as a digital asset, it gives me advantages too when considering it as an investment. Bitcoin really contributes to making a profit for me, so that can't be far from Bitcoin at this time.
Banks also work in my country. As a money exchange and crypto agent, I find it helpful for banks to store FIAT money. Here you cannot buy food with BTC or other cryptocurrencies, so everything must be exchanged into FIAT first.
-
With the sweet experience with banks, we cannot afford of going back to where we are coming from, bitcoin has given us the desiring taste for what we want, we have the freedom in finances, we have control over our digital assets, we cannot be charged and over charged as well with bitcoin storage on wallets, banks are modern and corporate means of extortion, there's no privacy with them neither do we have trust in them with our finances.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Wait a minute, what? Banks are risk-free? Dude it is centralized shit. You have no control over it and you can't do anything once they file bankruptcy. And when you use a bank, you are using fiat money which is never immune to inflation. And the low amount of interest you get every year/month from the bank, won't be enough to cover the damage caused by inflation.
So how is it better? And the government literally could do anything to your money if it's kept in the bank.
Thus the solution is Bitcoin. Not the perfect solution yet due to its volatile nature, but it gives you total control over your assets and gives you freedom. So my choice will always be Bitcoin over banks. But if you want something more stable for investment, lands and valuable metals like gold, silver could be your top choices.
-
With the sweet experience with banks, we cannot afford of going back to where we are coming from, bitcoin has given us the desiring taste for what we want, we have the freedom in finances, we have control over our digital assets, we cannot be charged and over charged as well with bitcoin storage on wallets, banks are modern and corporate means of extortion, there's no privacy with them neither do we have trust in them with our finances.
I agree with what you say because storing assets in the form of Bitcoin is more profitable because the price has the potential to increase in price and you are not subject to monthly tax fees from the bank, you only need to make withdrawals when you need money.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
In my country it will be much more profitable and risk free to invest through Bitcoin and store it in a wallet rather than keeping it in a bank.
In my country, the rate of inflation is constantly increasing and the amount of banking interest is constantly decreasing, as a result of which inflation and interest rate are low, the trust in keeping money in the bank is decreasing day by day.
Moreover, keeping money in the bank gives huge benefits to the special political circles, due to which the general public has lost confidence in keeping money in the bank. So I can't argue in favor of keeping money in the bank for now.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
First of all, there there's no thing such as "risk free". Bank these days offer many kind of investment, where risk of each are different. And in extreme case, the bank may scam you or going bankrupt. Although in terms investment, both good options especially if you want diversify money you could afford to lose and you already did research on bank you plan to use.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
First of all, I don't have a bank account because I don't really trust or like the bank. Maybe if it is absolutely necessary, I will only be obliged to apply for or open an account, but I will never set up a large account.
I would still prefer a bitcoin or cryptocurrency investment because I know that I myself have control over my fund, compared to the bank, where we have no control and instead they have control over the fund that we trust.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
Bank was never been considered to be an investment if you are really just pertaining about that annual dividend,not unless if you are a huge % share holder of the said bank then it would be good but if not then better not to think up on this way because it isnt never been worth if you do ask me, unless if you do that that multi millions deposits and getting 2-3% annual then
this is something significant but if not then better not to bother yourself.
For crypto then it is way more risky and more volatile but why investors do love it the most? because they could be able to make money or profits
in shortest time as possible on which we do know that this is something that people would be having the choice whether they would be able to bare up
with the risks or not.
-
First of all, I don't have a bank account because I don't really trust or like the bank. Maybe if it is absolutely necessary, I will only be obliged to apply for or open an account, but I will never set up a large account.
I would still prefer a bitcoin or cryptocurrency investment because I know that I myself have control over my fund, compared to the bank, where we have no control and instead they have control over the fund that we trust.
I don't think you need to create a bank account. Currently, there are many places to store digital currency, and even in my country, you can store it in a digital wallet, which can be used to buy life necessities, although you still need a person or exchange place that can accept exchanges from cryptocurrency to fiat currency.
-
Of course bank is more convenient but it depends on what it is more convenient for, I see no reason not to keep bitcoin not to transfer all the money to the bank because when I keep bitcoin I have more money and when I keep money in the bank I just more convenient to use them.
-
First of all, I don't have a bank account because I don't really trust or like the bank. Maybe if it is absolutely necessary, I will only be obliged to apply for or open an account, but I will never set up a large account.
I would still prefer a bitcoin or cryptocurrency investment because I know that I myself have control over my fund, compared to the bank, where we have no control and instead they have control over the fund that we trust.
I don't think you need to create a bank account. Currently, there are many places to store digital currency, and even in my country, you can store it in a digital wallet, which can be used to buy life necessities, although you still need a person or exchange place that can accept exchanges from cryptocurrency to fiat currency.
I am not anti-bank, because after all I still feel the positive impact of banks, but the difference is that maybe I am not too active in using them, and only at certain times.
Bitcoin, of course I feel a big impact from bitcoin. I also recently benefited from the increasing price of bitcoin in a short time. If you own bitcoins and hold them, I'm sure you feel the same way I do.
It's just a choice, I myself think as long as there is still something positive why don't I have it.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
Banks are risk free for investment, but in the country where I live, there is no effort to deposit money in the bank. But whenever I enter the bank to withdraw money, I have to face various kinds of harassment. And if I go in in the morning it takes almost noon for me to withdraw money, and I have to suffer all kinds of harassment.
For bitcoin investment:
Risky
More profit
Anytime you are rich
But if I invest in Bitcoin I can invest anytime, and withdraw anytime. Basically I own my assets and no one else can enjoy them if the keys are kept under control. Investing in Bitcoin is not risky, but the benefits are high. Short time and not having to be harassed by anyone so in any way I can see the advantages of Bitcoin.
I equated everything to keeping money in a bank with third party control, and investing in Bitcoins owning your own assets to withdraw at any time. So I will never let a third party control my money that's why I hold more bitcoins.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
First of all, I don't have a bank account because I don't really trust or like the bank. Maybe if it is absolutely necessary, I will only be obliged to apply for or open an account, but I will never set up a large account.
I would still prefer a bitcoin or cryptocurrency investment because I know that I myself have control over my fund, compared to the bank, where we have no control and instead they have control over the fund that we trust.
Same here kabayan, though I have savings account in one of the banks here in our country that is very vocal about cryptocurrency but unfortunately my account was closed due to inactivity. I will personally choose Bitcoin over banks as well because of the fact that I am more on crypto than centralized investments that banks usually offer. Banks only offers 1% interests per annum that is quiet very low compared to Bitcoin which may rise from 1×,2× or even 3× times during bullrun.
-
I don't feel safe even if I have money in the bank because it has the power to control the third party person. So I am independent my money will be independent it is dearest to me. My assets must be held in Bitcoin to be independent, if I can control my keys properly then only I own my assets. But whenever I deposit money in the bank, since my money will not be under my control, it will go to the authority of the bank. So if you want to get freedom of money, accept Bitcoin and invest in Bitcoin, you can control the money yourself.
-
I don't feel safe even if I have money in the bank because it has the power to control the third party person. So I am independent my money will be independent it is dearest to me. My assets must be held in Bitcoin to be independent, if I can control my keys properly then only I own my assets. But whenever I deposit money in the bank, since my money will not be under my control, it will go to the authority of the bank. So if you want to get freedom of money, accept Bitcoin and invest in Bitcoin, you can control the money yourself.
Well this is actually basic but we cant really deny nor really not able not to think that banks are still that relevant or something that we could still trust our funds specially when we do tend to
save up some fiat on which this could really be only done through bank savings. Even though we do make ourselves that been aware that Bitcoin or crypto is something better when it comes to
have that control with our funds but we cant really deny that we do still be able to trust up bank services and other correlated things or transations that could really be able to make with.
This is why having both existence could really give out that kind of option on which we do really like to have at least.
-
My little thinking is
For bank investment:
Risk free
Low profit
Get profit for a certain period of time
For bitcoin investment:
Risky
More profit
Anytime you are rich
What is your opinion about it?
If you put money in a bank, it has the power to control the money up to a third party, so I don't think it's safe to put money in a bank.
But putting money in Bitcoin will definitely allow the owner to control it himself and no third party hands. So money that can be controlled by itself means it is the safest. Simply put, I trust Bitcoin, but not banks.
-
I don't feel safe even if I have money in the bank because it has the power to control the third party person. So I am independent my money will be independent it is dearest to me. My assets must be held in Bitcoin to be independent, if I can control my keys properly then only I own my assets. But whenever I deposit money in the bank, since my money will not be under my control, it will go to the authority of the bank. So if you want to get freedom of money, accept Bitcoin and invest in Bitcoin, you can control the money yourself.
Well this is actually basic but we cant really deny nor really not able not to think that banks are still that relevant or something that we could still trust our funds specially when we do tend to
save up some fiat on which this could really be only done through bank savings. Even though we do make ourselves that been aware that Bitcoin or crypto is something better when it comes to
have that control with our funds but we cant really deny that we do still be able to trust up bank services and other correlated things or transations that could really be able to make with.
This is why having both existence could really give out that kind of option on which we do really like to have at least.
You're right, actually we can use both. because banks and bitcoin have their respective advantages and disadvantages. Banks are still relevant for storing money where we can easily use them as a payment method. If it's Bitcoin, it's more suitable for investment.