Preparing for a crypto future
By Luke Flowers – Cryptocurrency Broker
Throw out a survey asking people whether they trust their government or the financial system, many would say no, they do not trust any of it. This is primarily because the financial systems are run by a handful of individuals. These few people are the only ones profiting from it, while most of us experience the consequences of a damaged system.
Due to this trust many have been crypto buying and decentralized systems could be up and coming. The trust we keep in these systems resides in code, and it is open-sourced and available for all. The first step is to develop faith in the future of cryptocurrency to encourage more people to buy crypto. Once you are done with that stage, the next step is to get rid of the "get rich quick" idea. This way, you will be in an excellent position to reap the benefits out of crypto.
The main problem with fiat currency is that if you are investing in it, it is like putting your hard-earned money on the government that has issued it. You are betting on the faith and creditability of your government. Just imagine what would happen if your government’s credit rating falls? What if your government has borrowed a lot more than they can pay? What if inflation strikes up, all negatively impacting the value of the currency you hold.
The cryptocurrency is built on a decentralized system so that it is effective and secure whilst not under the control of an entity. No government or corporation will actively decrease its value and this volatility makes it crypto attractive to traders who want to buy and sell crypto to generate a profit.
In the end, you should keep in mind that cryptocurrencies are code on a system accessible by anyone. Yes, the decentralized system of digital currencies is of great value and its advantages exceed those of fiat, but you still need to make sure you are buying from a trusted Bitcoin broker.