Many people I know formed a bias that cryptocurrencies are inherently risky and you shouldn't invest in them more than you can afford to lose.
I agree with the above statement in a certain extent, but I'd like to ask the community. Is it riskier to place your money in Bitcoin or hold them in a fiat savings account? What's your opinion?
So curious to see the response especially today when we live in times of crisis.
Bitcoin is risky because you are just investing in digital money that does not have a physical form comparing it to other digital currency which you could convert in physical money or fiat money. A lot of people know and understand bitcoin technology and they know how risky it is and they are willing to take the risk investing in bitcoin even though it is risky the demand of people today in bitcoin is just high and even me I cant imagine how bitcoin marketplace is going to go down easily.
Do you mean the digital dollar or what currency are you talking about? You know that the price of bitcoin is also formed by what you can buy with it, so you can also exchange bitcoins for tangible assets such as currency and goods.