Crypto to The Rescue As Fiat Can't Be Trusted
There can't be any comparison between cryptocurrency and fiat at anytime because trust is far more in one than the other.
Since the inception of the first cryptocurrency (bitcoin), there's always been a go up value in crypto except for it's volatility and surely we know that it's only the nature of cryptos to have this swing because of all the influences its price action.
It's just so interesting how crypto has made a lot of people to billionaires and millionaires overnight as it is mostly perceived but truth is many have taken a long time to get from where they were to where they are.
Looking Back
Crypto has been in the hearts and minds of many people especially those known as crypto enthusiast.
From when a cryptocurrency is launched till it's listed, there's always a certainty in the increase of its value although it may go up and down but certainly can't just remain as it was.
Looking at the value of fiat currency, there's just always a decline in its value which many who have put their trust in it have to double down in making more and sustaining their livelihood.
The influencers of crypto, the bulls and the bears, economic situations, real life cause and effects cause a swing in price of crypto but surely the trust that crypto has gotten over the years, fiat currency can never take that away.
Just working and earning in fiat currency, puts spending in the spotlight.
Inflation is always steady and ever rising.
You might never see or feel it until you have to go into a store or have to get something for yourself then at that point, it stares you in the face that you actually need more money to make a purchase as you buy less with more amount.
Inflation keeps eating deep to our purses that we need to keep up with inflation by earning more.
I recall many years back when I was young, I could be handed 20 naira, my country's fiat currency and could buy bread but today that same amount would buy me one sachet water instead of 4 sachet water.
Inflation has been eating deep down in the country only leaving the axiom to be true, the rich are getting richer and the poor are getting poorer.
Ups and Downs
In as much as crypto is the one with the cape and mask, it still has its cons and pros that many who divulge Neely to the digital world likely fall prey.
It's not all rosy, because when the bear market is at hand, one who see a decline in their portfolio which is painful so understanding the way of the market or how the crypto game is played is of essence.
In our world today, it is glaring that majority of leaders know the positive of cryptocurrency but have decided to turn a blind eye on it.
For one, in my country Nigeria, many young people that have understood the concept of crypto have turned all their assets to crypto but the government as it is the same in many countries have banned crypto labelling it as evil.
Many of this government people know the usefulness but have decided to turn a blind eye forcing people to rely on fiat currency that isn't reliable.
Conclusion
It's only joyful that many who are dealing in cryptocurrency have been able to be earning in dollar to the extent that inflation is not really felt although it is known that inflation exist.
Crypto has already taken a strong hold as it has been in the rescue especially in this perilous time in Ukraine as crypto has come to the rescue when fiat couldn't be of importance.
The digital world is a threat, not a negative threat as it is portrayed by the government but a positive one that would help beat inflation and stabilizing economic situations.
It would only be remarkable to teach the younger generation coming after to know the value of crypto and not fall victims.
Thanks for visiting my blog, till next time.