Bitcoin is a digital currency (cryptocurrency) that was introduced in 2009 with no physical form and which is not controlled by any single company, bank, government, or other entity. No longer do we need to trust third parties, instead, we can rely on ourselves.
It offers a multitude of advantages over traditional currencies including instant transactions globally without conversion for purchases such as hotel bookings, online shopping orders, and travel packages and access to high yielding crypto CFD trading platforms like Cryptrader.
Buying bitcoin with your paycheck before anything else ensures a practice of saving and accumulation. Bitcoin’s scarcity is its most valuable property. The more you start buying on a regular basis now, the more it will be worth in the future.
Part of the plan when saving is to stack Bitcoin; there is no right or wrong way and time and price appreciation will make anyone who does so look like a genius. The point is, just keep adding to your stack; at present, one can acquire 10,000 satoshis for $5, an amazingly large amount for such little fiat. In addition, one can begin an auto-DCA which will continuously add to one’s stack.
Let’s take a look at three brilliant reasons to save in Bitcoin.
- Saving can give you freedom
It can be tough to allocate some of your cash to a savings account if you don’t have a set goal for that money. Why save for later when you can spend on what you want today, right? But among the many reasons to save money is that even if you don’t know exactly what you’re saving for right now, you’ll likely find something you want to save for in the future. A new car, a new home, a child’s education… The possibilities are endless. Plus, it’s critical to have some cash set aside for emergencies and unexpected expenses as they come up.
Aside from preparing for the unexpected, saving will allow you to spend your excess cash on whatever your heart desires when they want/need arises. Getting married? – Savings. Exciting holiday? – Savings. Want to buy Bitcoin? Savings. Need to fund your account on Cryptrader? – Savings.
- Saving provides financial security
The importance of saving money is simple: It allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen. If you have savings set aside for discretionary expenses, you may be able to take risks or try new things. Pretty good reasons to save money, right?
Knowing you have cash saved up for the future allows you to live better today. A “rainy-day fund” alleviates stress. When you aren’t so stressed, you function better. When you function better, you make more money. Excellent positive feedback loop.
- Saving gives you options
I know it’s hard to do, but saving money is one of the most important parts of your financial plan. Yes, I know – so many people feel like they’re just scraping by and they have no time or energy to put much into savings. But saving gives you options; it gives you choices in life that you don’t have when you’re strapped for cash with no way out. Savings allow us to do something with our money that we couldn’t otherwise afford: save for emergencies, or maybe earn some more money on a crypto CFD platform like Cryptrader or a loved one, make more purchases that add value to our lives, or at least meet our needs without going into long-term debt.
Saving gives you options. Some people have a lot of options, some don’t. For those with few options, saving is the only way to guarantee that they’ll be able to make choices in the future.
For those who are still working, it’s important that you save at least 20% of your income every month. But what should you save it in?
You might want to consider putting some of your cash into a brokerage account like CMC and investing in stocks or trade crypto CFDs with a platform like Cryptrader. While many people don’t invest, a recent poll shows that most are interested in learning about investing and trading.
The stock and crypto market is actually one of the fastest ways to potentially grow your money. While it may be risky, you’re almost guaranteed to get more from your investment over the long term.
Sacrifice the present for the future. Live below your means and enjoy the fruits of today’s labour, tomorrow. Your future self will be grateful.
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