Quote from: Cookdata on November 14, 2023, 09:32:22 PM

Quote from: Bitcoinpoly on November 03, 2023, 02:48:12 PM

The crypto market has a high level of volatility. Anyone who is about to make an investment needs to have a good understanding of the volatile market. Now the question is, even with volatility, will you still choose to make your investment in fiat through bank savings with regular monthly interests or rather make your investments in crypto where you hold your asset and still have the opportunity to save and make monthly interest?

This is not a question but a financial mistake. I mean, why do you need a fiat in the first and what is that monthly interest rate you are talking about? Let me tell you something, USA which I respect so much because they are good in inflation management, perhaps their banking annually interest rates might favor people that save money in the bank but I'm not sure if that works in a country like mine because under a year, inflation might double that amount of interest the banks will give you in a savings account.

To sum it up, if you have a savings account, make sure you don't attach email, debit and credit card to them and also deactivate the sms alert system, not because they are not good but the charges bank will deduct from your savings money might be 2x the amount of annually interest rate they will give you at the end of the day, I hope you see that saving is verb complicated if you don't know how to use the system.

I will not force you but please buy bitcoin if you have the means but don't do it under stress, but it when you know you are fully prepared and ready for it, you will not regret every buying it provided that you buy at the bottom, don't buy at the top Grin

It's true that American banks may provide reasonable interest rates, but those rates may not mean much in nations with high rates of inflation. You're being wise when it comes to the little fees associated with bank accounts, such as those that might quickly deplete your funds.

How about diversifying? Sure, put some money in a savings account, but think about setting aside some for cryptocurrencies like Bitcoin. In this approach, you strike a balance between the potential huge profits of cryptocurrency and the security of a bank. But keep in mind that with Bitcoin, timing matters. Purchasing low is important; purchasing high might be dangerous.

Indeed, investigate Bitcoin, but proceed with caution. Also, pay attention to those bank fees! You may be better off financially if you strike a balance between the two.