Post
Topic
Board Economics
Re: Bitcoin as savings, emergency needs possible?
by
Christian31
on 28/05/2018, 10:04:52 UTC
So far there are many concerns regarding on bitcoin advantage. I have read a lot of it here in our forum. Thus really make sense why should we invest in bitcoin? Well i know that you can add up more when comes to the advantage of investing bitcoin from the other members as well. In fact i get a lot of idea from them from reading and reading from their post. Thus includes bitcoin as a form of savings highlights the best idea on investing bitcoin which could be later use as for emergency needs also. So how it will work? Well i have some extra money from my salary so instead of putting it to my piggy bank i will invest it here in cryptocurrency though  it is not that big yet it could be consider as savings. From time to time as other members done like holding and selling it in the right time will do also. So it will be savings plus profit and that could also be use for emergency needs and easier to get or convert it to money for emergency uses unlike lending money from banks that will cater 2-3days process before you get your money. So this is the best idea i guess. How about you?Could you consider this thoughts?
You should treat separately your savings and emergency funds. Emergency funds must be withdrawable anytime. Thus, it is safer if it is in the form of fiat. You can save first for your emergency fund. Then after that it is time to allocate your extra money for crypto investment. But I also suggest to have a mix investment. Do not invest everything in cypto because of its risk.