Why I Invest More In Bitcoin Cash Than In The Bank

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Written by
2 years ago

I first started saving money in a bank in 2019. It was the best feeling ever because I used to only save money on a traditional piggy bank, sometimes on an empty water bottle or anything I could use as my coin bank.

Then I got employed and that was the time that I could afford to save my salary on a real bank. It was one of my greatest dreams before, and so every 15 days or twice a month, I would make sure to set aside some money from my salary and deposit that into my account. In two years, I managed to save almost 75K php or $1551.

I felt like a millionaire at that time. Lol. You can't blame me though because that was the biggest savings I had before. I almost thought I could reach 100K or $2068 until something came up, and I had to use the money. In just a matter of time, it all went to 0.

It took me two years to save them and only took less than a year to zero out my account. Of course, I started saving again. Little by little, I got another savings but this time, it took me a while. My new savings account has currently 18K or $372, and the other one has probably $1,035.

The one with 18K is an account I've had since I started saving again after my first one was closed while the other one is a savings account I opened last year. Both accounts are earning interest quarterly but not as much as I earn in Bitcoin cash.

This is why I got so amazed in BCH because once you HODL it, you have a chance to grow your savings more than any bank can offer. Of course, as I've mentioned before, it all depends on how much Bitcoin Cash you own. Regardless, you can assure that you can gain more in BCH by HODLing it than saving your fiat in the bank.

Source: Unsplash

If you're not convinced yet, here are the reasons why I invest more in Bitcoin Cash than investing in the bank:

You can create an account right away

Unlike traditional banking where you need to present some documents and valid IDs, investing in Bitcoin Cash doesn't require you any of these.

Anyone can open their account right away. All they need is a phone, an internet connection, sometimes with an email, and voila, you can create your account instantly.

For the wallet, bitcoin.com is, by far, my most favorite wallet ever. I've tried coinsph before, but it was a disappointment. I still use coinsph though but that was meant for buying or converting purposes.

Oopppss, I don't convert my BCH into fiat anymore, but some people would send me their BCH and asked me to convert it into fiat and send it to their Gcash account.

No minimum deposit or maintaining balance required

My first bank account before was BPI (Bank of the Philippines, Inc.). Since it is one of the biggest banks and let's say, one of the most secured, too, in the country, I chose to open my first account there.

The downside is, you need to deposit 10K php or $207 first if you wish to open a bank account. Plus, the maintaining balance is also 10k as well, so it's quite a hassle. Not to mention that you can never earn interest unless your account has at least 25K php or $517.

And then again, here comes Bitcoin Cash to the rescue. With BCH, you can deposit as low as $0.01 in your wallet. No maintaining balance, too, and you can definitely gain a profit regardless if you only have $1 in your wallet.

Not convince yet? Here's more..

Sending money or converting it to fiat is as easy as A-B-C or counting 1-2-3

I'm not exaggerating or anything, but this is 101% legit! Of course, that depends on what wallet you're using. This is why I prefer Bitcoin.com because it's super fast compared to coinsph and probably the fastest wallet ever.

Unlike in the traditional bank, it's really time-consuming if you wish to withdraw your money. First, you need to get ready, which takes half an hour or more. Then you need to wait for a cab, bus, or any means of transportation to go to your destination, which also requires time. And if you're living in a big city, there's always moderate to heavy traffic involved.

Then once you get there, you need to wait for your queue, and again, it's going to be time-consuming. Even talking to the teller also consumes time, and then going back home. Plus, what if it rains outside or if it's too hot. In short, it's taking so much of your precious time and effort.

Meanwhile, converting your BCH to fiat only takes a few seconds, as well as sending it to someone else. It's even faster than your boyfriend's/girlfriend's reply. Moreover, you can even send someone as low as $0.01.

Although the banks in the country are now offering online banking, the transaction fee is too much, especially when you send it to a third party.

You can deposit or cash out anytime, anywhere

Yes, another perk of investing in Bitcoin Cash is that you can deposit or cash out any time of the day, anywhere you like. No need to set up a date or worry about the traffic or the weather. You can deposit or cash out in the middle of the night or if while you're p**ping.

You can use it as money

Bitcoin Cash is a cryptocurrency that you can use to pay for the items you purchase online or the coffee you bought in Starbucks. Since it's peer-to-peer electronic cash, Bitcoin cash is perfect for everything.

Unfortunately, some establishments don't support BCH yet, but that doesn't mean that investing in BCH is useless. As I've said, you can convert it into fiat, and if you're from the Philippines, you can send it to coinsph to Gcash and use that to pay anything without worrying about the fees.

You can make more profit with your BCH

Depending on your capital, you can gain whenever the value of BCH goes up. Recently, I earned more than $400+ in just 5 days by HODLing my BCH, something that I never gained before while saving my money in a bank.

In my other bank account, from June 2020-April 2021, the interest I earned is only 581.54 php or $12 for 10 months. See the difference?

Sending BCH doesn't cost you a lot

You barely even notice the transaction fees. I recently transferred $88, and it barely cost me anything. It was only $0.01, and again, I received it in a matter of seconds.

Anyone can benefit from this

Regardless of age, gender, status, religion, or beliefs, anyone can invest in Bitcoin cash. All you need is a wallet, your BCH, and that's it!


Closing thoughts

Bitcoin Cash is one of the best things ever happened to me since 2020, and I'm sure many can relate to this. The fact that it's peer-to-peer electronic cash with fast and smooth transactions along with a lower transaction fee, Bitcoin Cash is definitely a great investment you can HODL for your future.


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2 years ago

Comments

Im new to read.cash and to this community, how am i going to post my article in this community is always says error if i attempt to share,., https://read.cash/@Carewind/how-i-discovered-cryptocurrency-carewinds-search-for-a-source-of-extra-income-on-the-web-8dc99198 Hope you can help me., It's just my third article though 😊🙂🙃😅

$ 0.00
2 years ago

I am learning things from you, last time to trade and tAke profit now, invest. Thank you for sharing

$ 0.00
2 years ago

Aww.. Glad to help. And thank you for dropping by. 😊😉

$ 0.00
2 years ago

Now I think I need to write, I took a long break here, by tomorrow I will be writing one

$ 0.00
2 years ago

In my case my bank only gives me up to 5% in interest every year and it can only be up to $1000, but Bitcoin Cash in one day it can perform up to 30% movements in the market in a single day. So what I do is that once every year I perform a trade where I look to earn 5% or more that way my earnings in Bitcoin Cash are equal to my bank yearly interest. I also do one trade every so often to keep my savings growing, for example I started this year with 1 BCH, so at the end of the year I will check all of my income that I had on BCH for that year and make a trade where I earn at least 2% more in satoshis value.

so that you understand at some point this year I will make a trade to gain some dollars and extract 5% after that I will make another trade to make 2% over my total BCH. So at the start of next year I will have 1 BCH plus 0.02 and $50. And that's all the risk I will take when it comes to my long term savings.

$ 0.00
2 years ago

Wow. Nice strategy. In my case, I'm more on HODL and spot trading. I tried futures before but I lost some amount from it. Just $30-$35 but well, for me that's already huge. Lol. So I tried to avoid it again. But I will try to trade once I got enough amount from mining in StormGain.

I don't trade but my gains from HODL have already given me more than what my bank could offer. I guess because my bank account has only $1000 that's why I don't get enough yearly interest.

$ 0.00
2 years ago

I tried to explain this to my networker whom I tried to invite here pero mukhang d pa ata naiintindihan ksi first tym nya to hear about crypto.. Indeed ang ganda ng bch to save your money in to.

$ 0.00
2 years ago

Mahirap talaga mag convince ng tao sa panahon ngayon.. Dami kasing scams and alam mo na, takot na ang iba.. Lalo na pag easy money.

$ 0.00
2 years ago

Trueness pro ung kuya q nag-invest nman ng malaking pera sa aim global kya if I got the chance to talk him, icoconvince q tlga xa to try put his money in bch

$ 0.00
2 years ago

Naku, ayoko sa mga ganyan.. Advantage lang yan kung marami kang connections na me kaya.. Kasi diba aside sa magbebenta ka, need mo din mag recruit.. E kung wala ka naman masyadong kakilala na me kaya, hirap din yan.

$ 0.00
2 years ago

Kaya nga.. laki pa nman ng investment na kelangan dun.. ewan q ba dun bat nya kinagat ang ganun

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2 years ago

Magagaling kasi yung mga recruiter magsalita kaya nakaka engganyo talaga. Pero chikahan mo lang kapatid mo about dito.. Malay mo naman.

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2 years ago

It's all true.. Yung interest naeearn kp sa BPI acct ko sobrang liit . samantalang dto sa crypto, ilagay mo lng BCH sa compound wallet may 5% daily interest kna.. Kpg swertehin sa bullrun.. Aba.. Double to triple pa profit . wala yan sa traditional banking 🤣

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2 years ago

My mom always tells me to save money in the bank but I keep telling her hodling is good and in year it may get doubled🤣🤣 BCH and Tether both are great medium to save money. Buy deep. sell on bull and again buy deep. Savings plus profit😅😅

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2 years ago

Yes. Love taking the profit and use that to buy more. While if you deposit your money in the bank, it takes time for you to feel your profit. Lol

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2 years ago

I am still finding it hard time to make her understand🤣🤣🤣 But I think she will get it later. She doesn't know how crypto works and that's why she worries more than me🤣🤣

$ 0.00
2 years ago

When people ask me if it's really legit, I would usually show them the proof I sent to my beneficiaries. Lol.

And yes, you can show your mom everything for her to join us soon.

$ 0.00
2 years ago

Nah I am enough for her. She is older. Is time to leave the job to their children. My brother and sister are doctor and I am also an university student. By the grace of Almighty we have our own home, business. I will let her rest now. We are going to take of their necessities😅😅. They have done enough

$ 0.00
2 years ago

But she can join just for fun and make new friends and not just focusing on the earnings. Hehe. But yeah, she deserves to be the queen now. Let the children do all the work.

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2 years ago

She won't be able to enjoy it actually. 😅 English is not her thing too😅😅

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2 years ago

Bitcoin Cash is the most convenient coin I have ever come across regarding sending, receiving and earning. I only have fiat in te bank that covers my direct debits each month the rest is in crypto. There are so many ways to grow your coins. Even just by holding you can gain more than in the bank.

$ 0.00
2 years ago

Exactly! I still have fiat in the bank but eventually, I will withdraw them all. Well, that money is meant for the house in the future but after that, no more traditional banking for me.

$ 0.00
2 years ago

I'm just curious... what was your bad experience with coinsph? Isn't it more convenient to have the tips sent direct to your BCH wallet in coins than to accumulate these in another wallet only to transfer it later to coins? Thanks!

$ 0.00
2 years ago

The thing about coinsph is aside from the fact that it takes a 3-4 hours to receive your BCH, the fee is a bit much for me. And since I don't convert to fiat, I only use coinsph to buy BCH using my own money. Coz I need to send my money from gcash to coinsph to bitcoin.com.

I don't really have that bad experience, but when I first tried to HODL BCH before, I barely feel the profit. So I switched to bitcoin.com.

$ 0.00
2 years ago

Fee? For transferring tips (from noise.cash as an example) to coinsph? Or from read.cash because it is a bigger amount? If you are saving and growing BCH, I guess I understand your concern about fees.

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2 years ago

The things is, when I first tried to HODL my BCH using coinsph, I barely feel the gains during the bull market. I don't know, but for some reason, I felt like this wallet isn't for me.

$ 0.00
2 years ago

Gusto ko ngang udyukan si mami na sa Bch nalang nya lagay pera nya. Kaso mo baka mamali ng pasok at ako pa masisi. Mahirap na.

Pero mas maganda talaga dito kesa bank, ang daming anek anek. Talang dito ilang tap tap lang anjan na pwd kana mag save. If ako papipillin, sa crypto na ako kesa sa Banko. Pag sa banko uupo lanh pera mo uusad ng kunti tas kunti pa rin in the end ahahaha.

$ 0.00
2 years ago

Tama! As in. Na try ko talaga to dati. Naka 75k ako pero yung tubo parang d mo ma feel. Hahaha. Lalo na siguro ngayon na naka BCH na ako, lalo kong r na appreciate si bank. Kaya nga d na ako naglalagay dun.

$ 0.00
2 years ago

I love reading articles like this because it motivates me to keep loving Bch the more. I have also stopped saving my money in the bank because it doesn't worth it. I lose part while still withdrawing it but with other coins especially bch which is a low transaction fee involved, I am good to go.

$ 0.00
2 years ago

True. You let your money sit there for them to use it and what you get is just a few bucks. Lol.

$ 0.00
2 years ago