Saving is difficult. And then what?

Saving is difficult. And then what?


In some economies, saving is a challenge for the ordinary citizen. Inflation, the high cost of living and low-paying jobs are some of the situations that prevent the family from adding something to the piggy bank in the form of a piggy bank that is not dust. Therefore, if under these circumstances it is possible to save, why take the risk of it losing value? Today's proposal is very wise.

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Which method do I prefer as a method of saving? The banking system in the country where I reside is out of the question for this purpose. Although there is a proliferation and streamlining of procedures to obtain current accounts in foreign currency, the most common are accounts and services in the official currency. Its clear difference with other currencies of greater circulation and accepted worldwide make it not an attractive option to keep our savings, despite its immediate availability. For this reason, my preferred method of savings is cryptocurrencies.

The highly used wallets and exchanges currently in use have created enough trust for us to save there. The ease of obtaining them is a big plus. There is no need to fill out long forms with complicated requirements to access them. In addition, the online sites are user-friendly and easy to understand, they even have instructional tutorials! So you can learn a lot on your own. The fact that you can buy them in small amounts is advantageous, since you can even execute a plan to save small weekly amounts that after a few months can be significant.

The stablecoins are a very good alternative in this part of the world. For many, having a stablecoin is the same as having a bill of a stable international currency. Some establishments and service providers even accept them as payment methods. So if we are saving to buy a new phone, we can not only use cryptocurrency wallets to save, but also to pay the price of the product. It's business!

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If you want to save on altcoins, with some technical analysis and fundamental analysis, you can take a lot of advantages. True, you can also choose on mere hunches, but I'm not one of those. Perhaps, just now, you have to be cautious, in view of the lateralization of many of them and a prolonged bear market for many. But with short and medium term entries you can make some profit. In my case, when I started to learn about this subject, I bought a coin at $28 that in a matter of a few days rose to $179. My inexperience made me keep it, thinking that it would continue to rise. On the contrary, it started to go down progressively and I ended up selling it for $52, and only because I had a medical need. But what if that happened to me now again with the experience I have? Of course my savings would have gotten fat.

What does the banking system have to have in order to be considered a safeguard for my savings again? At least two things. 1) To use stronger and more stable currencies, and not only to see the balance on a screen, but also to have the facility to hold them in our hands in bills of that currency. All facilities to make this happen are appreciated. 2) Improve interest rates for savings A good benchmark of what I would expect is what we can get in our HIVE wallets. The Savings line offers a 20% annual return - now that's attractive! And our dear @lazy-panda leaves us an excellent example, not only of good safekeeping of his savings, but also of full confidence in our blockchain system. By the way, I congratulate you for that decision, and thank you for showing us in a practical way what we can do if we set our minds to it.

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Savings become individual and family assets. We have to keep them with great courage. Perhaps in other latitudes the banking system does have the confidence and the services that savers are looking for. And if not, I recommend cryptocurrencies. Anyway, the decision is yours. Just save.

😎

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Images: Images of my property, captured with my Canon EOS Rebel t3i camera.
Banner: Made by me in GIMP with my own images and free resources from the site pfpmaker.com/
Language: Post written in Spanish and then translated into English through DeepL



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11 comments
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I see you also wrote about this topic! Your writing is great as usual. Anyways I agree with you it's up to what people want to use. I think you also gave great advice for the banking system. The interest rate for savings would be hard I think for the bank to achieve I dont think they can match the 20% on HBD.

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I was surprised to learn of this rate. The maximum I had ever known was 12% per annum. So it must be an excellent alternative not only for us. Thank you very much for your good impressions. Regards @shawnnft

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You're welcome man! It's a good rate for those that want to play it safe but i think in this bear market its better to accumulate btc,eth and some salt coins of course not financial advice :P.

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I fully understand and agree with you. Regards

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Indeed in unstable economies with fiat currencies depreciating - crypto currency is a safe haven. Additionally 20& APR is very attractive and cannot be found any where else but on the Hive blockchain. Crypto is volatile however therefore one must be vigilant and monitor their crypto assets.

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Correct. Perhaps in inflationary economies stablecoins predominate over altcoins. In such a case, yields like 20% are attractive, controlling risks and also greed. Regards @momogrow

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