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You’ve just made your morning coffee. You open your banking app. You’ve got a little extra cash this month. Nice. But then comes that question, lurking like a meme in the back of your mind:
“Should I finally invest in crypto... or just throw it into my savings account and pretend to be a responsible adult?”
You're not abnormal because the same question is lurking in the hearts of so many other people. We're in the age of TikTok investors and volatile markets, and the battle between crypto investing and good old-fashioned saving has moved to the next level.
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But which should you choose? Here's an article that unpacks all you should know before deciding.
Savings: The Financial Security Blanket
People save money—that is, they put money aside for future investment. It's basically like having a warm, fleece-lined vault, where your money stays safe, cozy, and always available, even though it's not multiplying.
Even if you earn interest from saving, there's still a significant chance the interest will not be close to the inflation rate. But that's not to say there are no advantages.
In fact, proponents of savings accounts argue that the stability they offer outweighs any potential gains from investing. But that's not to say there are no drawbacks.
For instance, savings mean missing out on potentially higher returns from riskier investments. Savings can also lose purchasing power in the long run, because of factors like inflation.
Crypto: The Digital Wild West
You've probably heard about crypto investing. It's the biggest craze in town, and many people are jumping into it. But what is it? It's simply trying to grow your money by investing it in a digital currency.
Picture this: You put your money into a flashy digital coin. One morning, you wake up and you’ve doubled your money. Or lost half. Or got rugged. Who knows?
Why people are drawn to crypto:
High potential returns: Bitcoin, Ethereum, and others have made many millionaires over the past decade. As more people look to cash out from these, they're naturally jumping into them.
Decentralisation: It's not controlled by any bank, so there's no fear of poor networks or shutting down and moving away with your money.
Innovation & Hype: This is why you'll hear of things like NFTs, DeFi, and smart contracts—they’re all very “future.”
But it’s not all moon rockets and Lambos.
Crypto is volatile. Unpredictable. Unregulated.
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One tweet can shake entire markets. Your gains aren’t guaranteed, and your losses could sting.
So - Which is Right for You
From the above, it's easy to ascertain your best choice. If you're looking for fast gains, crypto might be your best option. But you still need to remember how volatile the crypto space is, so if you can afford to lose the money entirely, why not? But if you can't, better stick to saving.