Understanding The Basic Value Of Cryptocurrency
Cryptocurrency is a term most third-world nations adapt just fine to even with the technologically visible margin. Most of us hear the word, but we have no sound knowledge about it. It flies around us every day, yet we haven’t taken our time to learn about it. As long as it’s not fiat (paper money), most people have no interest in it. This act could be a snake that would bite us in the “ass” in a couple of months or years, especially with the growing adoption of digital forms of payment and exchange.
Most African currencies frequently fall against the dollar, pound, Euro, etc., because of inflation, bad economic policies, corruption and more. It is pertinent to note that most African currencies have a long way to go if they ever start gaining strength. As the days go by, the value of cash you have in hand and the bank reduces.
An excellent way to store your money is in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (TETH), etc. Regardless of your options, your asset value is safer and not affected by inflation or external economic forces. Also, you get to avoid the constant war of the first world currencies against the third world, which gives a better form of financial security and stability.
Crypto-assets generate high-interest rates compared to fiat saved in the bank. It depends on the use case and the adoption of such an asset. It is common for cryptocurrency assets to double or more their initial value within a month or few years. Examples are Bitcoin, Ethereum, Yearn Finance, Polkadot and so on.
Some cryptocurrencies are stable and are less volatile than other cryptocurrencies. These kinds of cryptocurrencies are commonly referred to as stable coins and usually depict a local currency. Example of stable-coins are Tether, Pax, USD Coin and many more.
With the increasing adoption of cryptocurrencies globally, investors and leading institutions worldwide are investing in them. For example, cryptocurrencies like Bitcoin has gained broad acceptance. Some of its prominent investors are Elon Musk, Tyler Winklevoss and Micheal Saylor. Also, MasterCard, Lamborghini, PayPal, MicroStrategy and Tesla have publicly declared their interest and adoption of Bitcoin
As more people invest and trade cryptocurrencies, there is a need for a secure and convenient way to buy and sell cryptocurrency at a better price. The most common means of buying and selling cryptocurrency in Africa and other parts of the world is through Peer-to-Peer (P2P) Exchange. This method allows buyers and sellers to exchange their asset for fiat, or another asset without any external influence
Valor Exchange offers a secured Peer-to-Peer exchange that allows you to buy and sell cryptocurrency through a bidding process. Bidding is a sure way to retain the value of your asset. It also gives you a competitive price advantage.
BOTTOM LINE
Cryptocurrency has better value and rewards than fiat because it is secure and can earn you a high dividend. The recent adoption by institutions and individuals is proof of the value benefits of cryptocurrency and an excellent pointer to its future.