Bitcoin Savings: The Power of Long-term Approach

Bitcoin, the pioneering digital currency, has not only completely changed the financial landscape but has also emerged as a viable and attractive option for long-term savings. While the volatile nature of the digital currency market may deter some investors, adopting a long-term approach to bitcoin savings can unlock its true potential. 

In this article, we will discuss the benefits of looking at bitcoin savings from a long-term perspective and present Bitnob as a platform that stands out for its dedication to enabling easy and safe long-term bitcoin savings.

The Power of Long-Term Bitcoin Savings

Long-term Bitcoin savings offer several benefits. One major benefit is that, compared to traditional investments, the value of Bitcoin tends to increase significantly over time. Because of its rarity and value, you could end up making a sizable sum of money if you hang onto bitcoin for a while. 

One more benefit of bitcoin is that it can shield your money from inflation-related value losses. In contrast to regular currencies, which lose value as governments print more money, Bitcoin has a finite supply of 21 million coins, making it a reliable long-term investment. The potential of Bitcoin is increased by the constantly improving blockchain technology. 

Furthermore, a growing number of individuals and large corporations are beginning to view Bitcoin as a legitimate and significant investment. You can profit from Bitcoin's increasing acceptance on a global scale as it connects into the global financial system by sticking to a long-term plan.

Dollar Cost Average (DCA) Strategy — The Best Way to Save in Bitcoin

As previously stated, the performance of bitcoin has surpassed that of any other asset. You need to have an investment plan if you want to reap the long-term rewards of bitcoin investing. 

While there are many different kinds of investment strategies, the dollar-cost average (DCA) strategy is the most reliable of all. With the DCA investment strategy, you make regular, fixed-dollar investments regardless of the value of the asset you're purchasing. 

This implies that you will invest the full $10 in bitcoin per month, regardless of the price. $10 a month will be invested by you regardless of how much bitcoin costs.  

The great thing about this strategy is that it allows you to forecast the kind of returns you could expect if you use it. For instance, you can use Bitnob's DCA calculator to project the return on your investment over a specific amount of time. 

Let us demonstrate the potency of the DCA approach. Assume, for example, that you choose to invest $10 in bitcoin each month for five years, beginning in December 2018. By December 2023, your $610 bitcoin investment would have increased to $1,948.35. You can see that your investment generated a 219.40% return by employing the DCA strategy by using Bitnob's DCA calculator. 

Bitnob: The Best Platform for Long-Term Bitcoin Savings

In Bitcoin savings platforms, Bitnob stands out as a robust and user-friendly option if you are looking to commit to a long-term investment strategy. Here's why Bitnob is a compelling choice:

User-Friendly Interface

Bitnob offers an intuitive and user-friendly interface, making it easy for both beginners and experienced investors to navigate the platform. Users can easily create an account, deposit funds, and initiate bitcoin savings plans with just a few clicks.

Automated Savings Plans

Bitnob's automated savings plans allow users to set up recurring bitcoin purchases at regular intervals, promoting a disciplined and systematic approach to long-term savings. This feature is particularly beneficial for those looking to accumulate bitcoin gradually over time.

Educational Resources

Bitnob goes beyond being a savings platform by providing educational resources about Bitcoin–just like this article you are currently reading. This commitment to educating users aligns with the ethos of long-term investing, where informed decisions can lead to more successful outcomes.

Transparent Fees

Bitnob maintains transparency regarding its fee structure, ensuring that users are aware of the costs associated with their savings plans. Click here to view our fees.

How to Save Bitcoins on Bitnob

Buying bitcoin starts with downloading the Bitnob app and funding your USD account. Next, you will use the funds in your USD wallet to purchase bitcoin through the Bitnob app. Once your Bitnob account has been successfully created and funded, you can begin saving your bitcoins by following the easy steps listed below;

Step 1: Tap "more" in the quick links section of the homepage

Step 2: Tap "Savings"

Step 3: Tap “Create a Plan”

Step 4: Tap "Bitcoin Savings"

Step 5: Input a name for your plan

Step 6: Tap "Next"

Step 7: Input the amount you want to automatically fund the plan at set intervals and tap "Next"

Step 8: Choose a debit frequency (daily, weekly, monthly) and tap "Next"

Step 9: Set a lock period for your plan (3 months, 6 months, 1 year) and tap "Next"

Step 10: Set your start date and tap "Proceed to Payment"

Step 11: Select your Payment Source (the USD wallet is chosen as default) and tap "Next"

Step 12: Tap "Start Plan"

Congratulations! Your bitcoin savings plan has been successfully created.

Final Words

Given that bitcoin has a track record of success, doesn't lose value quickly, and is becoming more adopted worldwide, bitcoin is a wise long-term investment. 

Moreover, Bitnob provides everything you need for a secure and seamless journey, making it a reliable and user-friendly platform if you want to save in bitcoin for a long time. Found this helpful, download the Bitnob app to get started.