As the USD shortage hits for big industry and governments I ask myself what alternatives does the world have during these hard times.
A mode of trade that can meet these requirements:
[ul]
[li]Protection from inflation[/li][li]Peer managed and governed [/li][li]Decentralized[/li][li]Cost-effective mode of transaction[/li][li]Currency exchanges finish smoothly[/li][li]Secure and private[/li][li]Easy transfer of funds[/li][/ul]
Does crypto make sense?
Crypto is prone to fraud and lack of a central issue is an issue too. E.g ukiibiwa Crypto zako, there is nowhere you would report and there is no way you would get them back. Ukiibiwa fiat zako, unaeza enda CBK ulodge a complaint na fiat zako zitarudishwa.
You need to understand that in matters money, we as African nyeuthi don’t have a say in choosing what is good for .ke…we sit and wait to be told what to do.
Next…
Si Binance tuliibiwa na tukarudishiwa. Anyway you can put you coins in cold storage and lock em in a safety deposit box at the bank.
Binance is an exchange that is legally required to maintain a SAFU, I am talking about crypto which isn’t held by exchanges.
Kwenye inflation inaelekea you are better off buying goats and waiting for them to multiply instead of depositing less than 1m anywhere.
. Explain how that 1M is not impacted like 100k
You may get better options with the 1m, in terms of returns that can somehow weather the impact of inflation on your investment. Big risk big money, or big loss. The only investment meeting your criteria is crypto coins, which I doubt the average less than 1m holder is ready to go all in.
Which crypto specifically? There’s tens of thousands