BCH and global reserve currency

When you hear about global reserve currency what quickly comes to mind are the U.S. dollar, euro, yuan, the British pound, and even the Canadian dollar. These are obviously global currencies that have a lot of weight but do not own all the world's trade. But that does not give us the real meaning of a global reserve currency. Global reserve currency means having a reserve currency that is used to make trade deals across borders. This means that when you have a business you trade with people who do not have your currency, the global reserve currency can play a role in facilitating such trade.

It is called a reserve currency because national governments and their banks stockpile this currency to make it a safe store of value for their financial systems. In our world today, the U.S dollar is one of the most widely used reserve currencies in many nations. What this portends is that these nations are trusting their economic and financial power to the U.S. dollar and all of its derivatives. So whatever happens to the U.S dollar when the U.S government goes through some crisis can be felt all over the world and more in those nations that choose it as their reserve currency. In this sense, the U.S. dollar is a global indicator of the status of the nation's banking system and monetary policies.

Inflation against the dollar will also affect those nations that choose the U.S. dollar as their official reserve currency. This is because inflation is what leads to the devaluation of the local currency as the value of the currency depreciates due to a loss in value from dollar inflation. This is why most countries' local currencies are losing value when the dollar goes up. Thus, the higher the cost of the dollar, the lesser the value of the local currencies of those nations. The trade deficit makes them susceptible to global economic trends as the value of the currency depreciates due to a loss in value from dollar inflation.

Can the world nations have a better alternative reserve currency in crypto? This brought us to the consideration of BCH becoming a global reserve currency.

There are more than enough reasons for it to be so. Blockchain technology has the capacity to bring a lot of good to our world. With BCH, no one needs to rely on another nation's currency. No one has to send anyone anything. This is why BCH transactions don't cost anything, which in turn will eliminate the need for banks or credit cards. This will also eliminate the need for certificates of deposit (CD) from the banks. That will make money easily accessible to everyone.

There are several other factors for BCH to be a better global reserve currency. One is that, unlike other cryptocurrencies that are not decentralized, BCH is decentralized. That makes it a trusted currency. It's also more secure and confidential than the rest. It is also quicker in transactions and instant. The point is that crypto is a form of money that is secure, fast, and gives everyone access to it without worrying about any form of international restriction. This is why BCH can be trusted to be a much safer alternative to fiat money.

In other words, a cryptocurrency that is fast, secure, and efficient would do well in being the world's reserve currency. BCH has not only reached the tip of the iceberg, it is already killing traditional currency, which is much older and in worse shape. The age of cryptocurrencies has arrived.

The real value of any currency lies in the fact that the currency is widely accepted all over the world. The whole world uses U.S. dollars and euros because of the large world economy. However, with BCH's glowing adoption all over the world, it would soon end this era of dominance. There is no doubt in our minds that the world will soon ditch U.S. dollars and be more receptive to cryptocurrency, and the only cryptocurrency that will emerge to replace it is BCH.

I know you must be thinking about crypto volatility as a reason why BCH cannot be a world currency. But the volatility of BCH is much lower compared to other major digital currencies, and the achievement of global adoption for BCH will definitely make it more stable, thus making BCH much more stable for international transactions. This would make BCH a real reserve currency in the future.

Furthermore, as BCH continues to gain global acceptance, it will eventually become the world's go-to cryptocurrency. Its existing and prospective users will demand more and more of it in their daily lives, thus encouraging its growth in popularity and demand. This would result in more and more people relying on BCH in order to transact and make transactions.

There are people who have already invested a significant part of their life savings in cryptocurrencies, while others are joining the bandwagon with an eagerness to know more about how these currencies work. BCH has already established itself in the cryptocurrency space and has established trust among cryptocurrency users in general. That is what makes BCH an ideal reserve currency.

With a stable and global adoption rate, BCH would be the currency that would make everyone's world better. It would be more desirable than fiat money and will give birth to a much higher adoption rate and demand. The market value for BCH today shouldn't be a thing to worry about, adoption is the main thing and the key factor for BCH to become a global reserve currency, and that has already started. It is only a matter of time for nations' governments to join the adoption train, and once that happens, BCH will make it in becoming a global reserve currency.