Is Bitcoin a means of protecting against depreciation of national currencies?


#1

After the Iranian government legalized the mining, the cost of Bitcoin on local exchanges soared to 24,000, with an average price level of 6,400.

Also, “unhealthy” demand for crypto currency is now observed in Turkey and Venezuela, Sotsortal reports with reference to the channel @Coin_Post.

These three countries are united by a bad economic situation, which caused a sharp depreciation of national currencies.

Therefore, the population decided to save their savings by investing them in Bitcoin and other crypto-currencies.

Why in Bitcoin, not in dollars or gold?

Because the markets of currencies and precious metals are controlled by the state and no one will allow the population to freely buy these assets during the economic crisis.

On the contrary, in such a situation, governments are trying to take away the savings of their citizens.

But Bitcoin can be purchased with a high level of confidentiality and no country, not even China, has learned to effectively fight the crypto-currency market.

Bitcoin gives maximum freedom of action when buying, storing, transferring or selling, unlike other assets to preserve value.

What is your opinion about this?


#2

One of the best benefit of buying the crypto currencies is that no one, including the government can track your holdings plus you can move/shift to any country and sell your holding from anywhere in the world at that current price. That’s why people are investing in this market in times of crises.


#3

a good decision for those who invest their money into cryptocurrency, because in cryptocurrencyy there is no country 1 that controls it, let alone regulate the course of the market, so it’s time for the state to go to cryptocurrency.


#4

Currently, bitcoin is quite independent of the fiat currencies unless otherwise bitcoin becomes the national currency of every or any nation. Also, national currencies is backed by gold every nation has so its circulation and printing will be dependent on it. It is quite risky to put it all in to cryptocurrencies. Remember what they say, do not put all your eggs in one basket. If the boat you are backing up sinks, all of it will sink. Diversify. The time may come, your nation’s leader is not quite pro to crypto, then you’ll be at loss. However, it is still dependent upon you, if you are taking that risk or not.


#5

Yep, diversify. It doesn’t matter where you are putting all your life savings, just don’t put everything in single kind investment. Stocks, mutual funds, gold, minerals and crypto are some types of markets where people can invest and diversify.


#6

Yes, it’s true, decentralization is the main and big advantage of the crypto currency, so every day more and more people trust them.


#7

Bitcoin and altcoins gives freedom to everyone. Funds will no longer be controlled and people can invest as much as they want. They only downside is that cryptocurrency is risky. If they are to invest, then they should be ready on losing the entire investment funds. It is risky for someone can steal this if your private information like private keys are compromised, or someone steals your device contaiting the information to access the wallet, or miraculously guess the private key.


#8

Yes, we must be very attentive to our personal information. Necessarily we need to store this information on different carriers and in secret places. It is very insulting to lose money from swindlers, and not to wait for the growth of the price of the crypto currency.


#9

market is risky because it can’t be regulated, at least not now. Most of the projects are scam, which hurts whole market and people are not aware of safety measures they should take to secure their accounts and holding. Just for a fake airdrop, they give up their private keys on some random fake site unknowingly and lose everything. Keep them safe, be a little vigilant.