Dogecoin Saving money in crypto or fiat currencies which is better looking at the current market situations?

[Kingsley]

We all have money we don't spend. We either save the money in our local banks and can get interest on it over a period of time.
However, we have experienced a boom in crypto this year. Considering that major crypto currencies like Bitcoin, Ethereum, ripples dogecoin have crossed 100% yield since the beginning of this year.
Bitcoin was the highest big name gainer this year. Even cryptos like dogecoin, xrp,Bitcoin cash and Tron has achieved above 30% return so far.
Crypto is volatile unlike fiat currencies so would you save your money in major cryptos or local banks for now.

Judging from the current market situation the prices of crypto currencies are crashing out so fast and there is so little anyone can do about it. Investors are making huge losses as a result of the uncertainty in the crypto space.

Will advice I save in crypto or fiat?

 

[Chibson]

I would definitely choose to save in stable cryptocurrencies. There is a difference between investment and saving in the sense that investment is an expectation of high profit for certain amount of money, in saving, you don't necessarily think there will be any increase in the money you put up for that purpose. Generally, I would be saving my money in stable coins because my country's currency devaluates alot.

 

[Bookwormlux]

I receive my payments from sites via crypto currencies and I must tell you that I do not ever think of leaving my money in Crypto as I always convert them to stable coins like USDT and then sell off in the binance peer to peer market place.
I am saving some earninngs for school, so I do not think it is even wise to leave these savings in Crypto Currencies as it is very volatile.

 

[Wisdom01]

I will choose to save money in flatcurrency , because what if the price falls rapidly and i need a urgent money to settle bills , it would be really hard for me to find that is the disadvantage of saving in crypto and there are even some crypto that could fall up to 50% in a day , its a big issue to investors too i think , so the money i can afford to lose is for crypto currrency

 

[Deleted member 51169]

I believe our ability to know there is no stable crypto coin, the earlier for us. However, there are Stablecoins alike DAI, USDT (Tether), and USDC that are pegged to a fiat currency like USD. ... That means that sales or exchanges of stablecoins must be reported on on your taxes — even if you had no gain or loss.

When you use a coin pegged to a fiat currency, it is when you can be save. Nonetheless usdt is best recommended because of dollar power.