49 sats \ 2 replies \ @KLT 28 Mar \ on: If you go all in on BTC, how do you grow your wealth? bitcoin_beginners
Everyone has fiat expenses where there’s a 30 day or so period where you’re holding fiat until your bill is due. What if instead of holding fiat, you allocated that money to btc and let it sit there for a couple of weeks? Then once the fiat bill is due, exchange your bitcoin for cash.
Ideally your bitcoin has risen in value over the few weeks and then when the time comes, you’re exchanging LESS sats for same amount cash, then you slowly see your expenses, when priced in bitcoin get lower.
**There are A LOT of caveats to this but I’m just keeping it broad.
Good call. The thing is, the crypto payment firm takes a 2% service fee if I pay for my bills with BTC. So I must see if BTC has appreciated sufficiently in value for me to recoup this fee haha. But it’s early days for Singapore yet. I m sure this service fee will go down if more n more Singaporeans pay for our bills with sats