Good evening and welcome to Exciting World Cryptos. Where I talk about anything with Bitcoin, Cryptocurrency, economic and many other things.
Right with all the many things going on. We are heading in what could possibly be a global depression. Many places have seen the economy in a melt down in the last while.
One of the reasons is based on the creation of FIAT currency. All the powers that be around the world are trying to survive on printing out their currency. To mitigate the sever economic impact, governments and central banks globally are printing and distributing extra money to prop up parts of the economy. Which in turns when you bring more dollars into circulation. It creates inflation, which devalues the dollar and drives the price up on goods and services.
I am going to go over some ways you could protect yourself from this happening to you. Of course unless your the government, there is little you can do to stop all the money printing going on. Instead you can look at investing into different types of assets that could maintain their values
Right now there are for sure 3 things you could invest your money into. That be gold, silver and Bitcoin. Precious metals have been around for over 1000 years and have good creditable evidence on good value. Of course it can be difficult for some people to be able to obtain precious metals. Such as it is highly controlled therefore difficult to get. Such as it is expensive to mine, you need heavy equipment and land assess to areas to get at gold or silver in the ground. Buying from a platform, you are restricted to large amounts and may be expensive to obtain. However If you are able to get gold or silver then you are in a good place for sure.
Now the third option is of course Bitcoin.
Digital assets have seen a different story. Without the worry of political interference and variable supply rates, cryptocurrencies can benefit from being a less vulnerable investment in times of crisis.
Cryptocurrency is an alternative method of inflation protection which should not be overlooked. Although previously appearing as counterintuitive due to perceived volatility, digital assets have held their own against the stock market, unlike other commodities such as energy and gas.
Bitcoin is good for people to obtain as any amount if Bitcoin has value. So if you have 3 dollars in your pocket. Then 3 dollars of Bitcoin is of great value, no matter what others say. Also you can get Bitcoin anytime. From exchanges, other people and evening mining. Mining Bitcoin is easily obtained for the average person as you can purchase the equipment quite easily and does not have to be expensive. Bitcoin always has its own value over FIAT. You do not need to look at the FIAT price to Bitcoin to see a value. The value of Bitcoin is alway beneficial to you. No matter how much the FIAT currency devalues, the value of Bitcoin will always be in a safe zone.
Bitcoin is good as a store of value and will maintain that value for a long time. As it is in a category of it’s own.
This should be something that others need to consider. Of course as a safety measure to you all. I am not a financial advisor so do not take this as direct financial advice by any means. Please make sure you take care of all your needs first before investing into something. Such as make sure all your bills are paid off and your daily needs are fulfilled before taking on some type of financial investment. Just more less a good personal responsibility one should take on.
You may not totally be able to protect yourself from the inflation. However at the very least you can take steps now and make things comfortable for you. Times are changing and things are getting interesting and maybe a little challenging. There is of course a solution to any situation. That is a mindset one should consider at these times for sure.
In general take a further look into Bitcoin and see if this could be an answer. Again only you can make the final decision on this. I just recommend you to take a look if you not have already done so.
Thanks again for watching This moment of Exciting World Cryptos.
Have yourself a great day.
I like bitcoin