With recent global unrest and economic uncertainties, more people are questioning the stability of our currencies and looking for alternatives like cryptocurrencies. Although using digital money seems a bit out there, it is becoming more common, especially with Bitcoin, Ethereum, and a few other big players joining the scene. This article examines how cryptocurrency could shake things up in a post-collapse economy, examining its pros and cons. Get ready to explore the crypto world and its impact on our shaky financial future!
1. Global Advantage
The fact that cryptocurrencies are digital makes them more appealing during a post-economy collapsed world. If our economy crashes and cash loses value, we will need a way to buy items internationally, and crypto is a worldwide currency.
2. Gold’s Competitor
Many people view gold as the one currency that will hold value no matter what happens in the economy. However, the rise of cryptocurrencies has led many experts to think that gold may have some competition and is the way to store value in unstable times.
3. Not A Great Barter Tool
If we don’t have electricity or access to the internet, then crypto is useless. We would unlikely be without electricity, but people would be more interested in basic goods than in cryptocurrencies.
4. Non-Government Control
Since crypto is decentralized, there isn’t government control, which would make them unaffected by economic changes. This can be good and bad at the same time because, without government control, the value of cryptocurrencies can change significantly.
5. Limited Supply
One advantage of cryptocurrencies is that they have a limited supply, unlike traditional currencies, which can print out as much as is needed. If you have crypto in an economy that collapses, it will likely rise in value due to scarcity, giving you the edge in buying or trading for goods.
6. Banks Are Gone
If banks shut down during the economic crash, accessibility to cryptocurrency will be invaluable. Since you can access crypto anywhere with an internet connection, it will be a reliable way to access much-needed funds during a crisis.
7. Diversity
Since there are so many different types of cryptocurrencies, users could choose the currency that works best in a post-collapsed economy. If the dollar doesn’t have value, some cryptos might work instead, so having several different cryptos could be beneficial.
8. Blockchain for Security
Since crypto uses blockchain technology to ensure safe transactions, it is more secure than traditional currencies. In times of crisis, having a reliable way to handle financial transactions can give you peace of mind.
9. Trade Based Tool
Crypto can also be useful for swapping and trading goods in a post-collapse society. With the option to transfer funds digitally, you can easily get resources from others without needing physical cash.
10. Community Cryptos
Another reason for using crypto during an economic collapse is the ability to create community cryptos. These cryptocurrencies could be linked to certain goods in different towns, neighborhoods, or even within a group of people.
11. Less Legal Hoops
Using crypto during an economic crisis can reduce red tape when making transactions. Since it doesn’t have the regulations and fees that traditional currencies have, it is a much quicker way to make transactions.
12. More Than Just Digital Cash
Crypto isn’t just a digital version of cash; it also has many other potential uses that would be useful during an economic disaster. Smart contracts could be invaluable as a reliable way to ensure resources go where they should go.
13. Stable Value
Unlike traditional currencies, another plus for storing and using crypto is its stable value during an economic crisis. In the middle of an economic mess and the unstable time following the crisis, cryptocurrencies could provide people with security during uncertain times.
14. Not As Widely Accepted
One of the negative aspects of using cryptocurrencies is that they have yet to be widely accepted by merchants, especially when dealing with local businesses. However, if the dollar no longer had value, more businesses would be open to accepting crypto as payment.
15. Transitional
During crises that could cause an economy to fail, many people can be displaced or forced to evacuate their homes and communities. In this situation, individuals would have a portable and secure way to carry their wealth during these transitional times.
16. Strategic Planning
If a failing economy happened, individuals with cryptocurrency could still have a sense of control over their finances. They could access money and use it to make purchases and conduct transactions.
17. Diversify from Traditional Forms of Payment
When planning for the possibility of an economic crash, it is essential to diversify your options, and crypto gives you that opportunity. By investing in cryptocurrency, you will not solely rely on traditional forms of payment and can have more flexibility in your finances.
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