I live in Nigerian and since our presidential election,the our local fiat became scarce due to change in the newly redesign of the currency which makes it difficult for most people here to get physical cash for business and daily transactions because the banking system is overloaded with too many internet transactions making it hard for me to access my cash. So now I want to convert my whole cash in my bank account to bitcoin but dont know if is a good idea for me or not. I know in crypto world, it will be easy to access my money but the issue is, will my money be same value when I invest all of it in bitcoin .
Because literally in banking system for example, if you have $5000 that will be the value in 3 to 5 months and will add a little interest in it so my question is- I don't fully know how bitcoin works. Is it the same way with the banking system? Will I get more value or less value in future times?
Bitcoin price has not be well doing overtime now, I hope you're aware of that? And the current cashless situations in your country do not technical makes you free from it if you convert your money to bitcoin, primary reason why we put money in the banks is not for interest purpose but savings but there are some special accounts for interest purpose like fixed deposits, if that's were your money is, I guess is for a fixed period of time because putting it into bitcoin will still gives you concern if the market value go against you. Though the figure or piece of bitcoin purchase remain same normal the price rotation.
So my kind advice is expect positive and possible change in your country, savings is good and investment is good as well, when things are in order you can divided your projects and still have some savings. Don't be in a rash especially when you said you don't know much about bitcoin.