Saving Money
Would it be better to buy Bitcoins/eth than have money in a savings bank account?
14 Replies
yes...
If you take a look at historical records and the answer is CLEAR.
spread out your buys to smooth out the variance.
Yes
I mean OP already answered themselves with their username.
Don't buy ethereum...
"Past performance is not indicative of future results."
I would make sure that I truly understand this quote, before choosing X investment instead of Y or whatever other option exists out there.
It matters what your monthly expenses are relative to your savings, as well as the consistency of your income. Pay off any credit cards - that's your best return, then stick the rest in an SP500 fund and forget about it.
Save in Bitcoin money you will under no circumstance be tempted/forced to liquidate in less than a 4 year holding period.
If you can check that box and stick to it you’ll appreciate the longterm wealth building power of Bitcoin.
If you’re gonna paper hand the first -30% drawdown you experience then it’s not a suitable savings vehicle for you.
It seems absurd to me that people are answering this question without knowing a single thing about your situation. How old are you? Are you a student? Are you employed? What is your income, and how stable is it? What are your expenses? Do you have dependents? Do you have debts? How much do you currently have in checking/savings/other investments? Do you own or rent a home or live out of your car or RV? What are your financial goals—to save for retirement, save for a down payment on a house, save for your kids' college tuition, or spend every dime you make on hookers and blow? And what is your tolerance for risk?
Bitcoin is a risky and highly volatile investment. Not only is it possible to go down in price by 20% to 40% in a bull run and 80% in a bear market, but there are myriad ways in which BTC owners lose access to their coins (hacks, bankruptcies, lost seed phrases, etc.). An FDIC-insured savings account is probably the least risky place to park your money without having inflation erode its value (just make sure you're getting ~4% interest and not the 0.1% rate that many leading banks offer).
One isn't really a replacement or substitute for the other; they are complementary investment choices, and the right balance for you depends on your specific financial situation, goals, and risk tolerance.
To OP, watch until the end.
It seems absurd to me that people are answering this question without knowing a single thing about your situation. How old are you? Are you a student? Are you employed? What is your income, and how stable is it? What are your expenses? Do you have dependents? Do you have debts? How much do you currently have in checking/savings/other investments? Do you own or rent a home or li
I don't know where to even begin... I can rip you a new arsehole, but I think I've lost interest.
OP's query is very specific... it's not financial advice dealing with investing.
BTC > ETH > savings account
But your question is vague. Need more info/context because, for example, you'd be foolish to be holding $100,000 in BTC when you need that money in 6 months to put a down payment on your first home. Or if you're 80 years old and retired
