Larger percentage of our finances will be in crypto rather than fiat with more crypto adoption and beneficial decentralized system...

(Edited)

Hello Hive

Screenshot_20230213052843.png

For some reasons and local financial services we still keep fiat but I can guess that a lot of people who have now enjoyed the benefits of decentralized finances in cryptocurrency would prefer to keep more crypto money than fiat, even though crypto is a risky investment and way to keep money, we may still prefer this risk rather than keeping large chunk of fiats.

One disadvantages of keeping crypto money has been its volatility, sometimes you can't tell when market will fall into a dip and you need to take out some funds for some transaction.

But to mitigate this we have our stable coins just in case.
One can always keep crypto tokens in ones portfolio and still keep some small percentage in stable coins that can be sold at any time to meet our financial needs.

Countries are beginning to witness financial crisis of different kinds from the decisions made by their government and centralized finances.
At any point in time, the government can seize anyone's finances and they do not have access to such monies anymore but with decentralized finance, once your money and portfolio is safe from hackers, maybe in some cold wallets, then they are typically within your control.

Moreover a wallet can remain anonymous with no one to trace your monies....

Practically speaking, I barely have 2k fiat in my bank account.
If there is urgent need for money, I will have to checkout where to trade some tokens without much loss (since we are in a bear market) to meet such needs.

Maybe if I have a physical job and some more fiat earnings I could keep them in the bank to serve the above writing purpose but for now one can keep whatever they earn in crypto here on the blockchain or some cold storage somewhere...

Posted Using LeoFinance Beta



216
1
6.537 NEOXAG

11 comments
(Edited)

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.

0
0
0.000 NEOXAG
(Edited)

Crypto has gone beyond any nation right now. Having crypto rather than fiat also instills some discipline. You don't withdraw from crypto unless absolutely necessary

0
0
0.000 NEOXAG
(Edited)

With traditional money, the government can take over anytime because you have no control over it, but with crypto fiat, it is yours and no one can have access to it or hack it except you carelessly release your keys.

Posted Using LeoFinance Beta

0
0
0.000 NEOXAG
(Edited)

Exactly dear but will people still feel safe to keep money as crypto instead of fiat... We can never know.

Posted Using LeoFinance Beta

0
0
0.000 NEOXAG
(Edited)

This is why you already suggested stable coins and I think it is safe than having it in crypto where the volatility is unpredictable. Though, I don´t think everyone would embrace it, especially those who still do not have knowledge about it.

0
0
0.000 NEOXAG
(Edited)

Exactly dear, greater adoption will give people a more courage to save in crypto.

0
0
0.000 NEOXAG
(Edited)

I think you are right , it is convenient and perhaps a wiser way to keep moneys invested in blue chips and stables, not dollars.

Posted Using LeoFinance Beta

0
1
0.000 NEOXAG
(Edited)

Exactly and I hope that more adoption of crypto will make it easy for everything to hold and trade with crypto in stores that accept them instead of fiats...

Posted Using LeoFinance Beta

0
0
0.000 NEOXAG
(Edited)

POSH & THREADS Synergy

Posh rewards Hivers who post their post links on Twitter with Hive upvotes. The Threads Twitter Button Threads posters to post on Twitter simultaneously: increase visibility for posts, plus potentially rewards!

Posted Using LeoFinance Beta

0
0
0.000 NEOXAG