New user here: Using Bitcoin as a savings account?

 

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Greetings, I'm a fairly new user to the bitcoin platform. Though I have been dabbling with it over the years and generally watching its progress.

Recently I reached the decision to start a savings account, aiming to place £100 a week from my wages into a normal bank savings account as a rainy day fund.

But it never really occurred to me the possibility that perhaps I should be putting my savings into a physical, backed up bitcoin wallet. Perhaps it has the potential to appreciate in value quicker than a normal bank would, but obviously I'm concerned that the volatility of the market could actually lose me money over time. I don't want to wake up one morning and find out my savings are not worth as much as they should be.

What are peoples thoughts of using this as a viable alternative to saving money. Am I too late to the bitcoin game to really be risking and investing money now?

submitted by /u/Gentree
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247 Bitcoin

Bitcoin & Crypto & NFT News

247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

1 News - 247 News - 1 Search - 1 eBooks

 

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