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What's your plan in the event of another recession?

All Cryptocurrencies

by COINS NEWS 106 Views

As we all know US banks aren't doing too well right now. People are starting to worry.

I spoke with an American friend of mine this morning, and she wanted my opinion on the best way to prepare herself in the event of a financial system collapse and the value of her currency going down.

Being a crypto enthusiast, I instantly snapped back with "put your money into digital assets"

we went back and forth for a while. "what about gold" she asked, I shut that idea down with "where will you keep it, who will you barter it with?" Gold is heavy I told her.

Real estate was also quickly out of the question with unpredictable rates, and the looming fear of the banks going under.

She said "what about moving it to another countries bank?" Yes for safe keeping,, but that doesn't solve the inflation and dropping value of your holdings.

Basically I told her she could invest and stake a good portion of her funds in btc or eth and make better roi than a savings account, cash crypto out in any country for any currency, its lightweight and easily accessible with more and more businesses accepting it.

Is there a better option to retain your $ value in these uncertain times, that I may have overlooked?

submitted by /u/Mj_6o4
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