The perfect money exists and it is called Bitcoin. We are facing a total paradigm shift. Central banks are losing their credibility, and you don’t have to go further than going out on the street and seeing it:
– A Russian citizen can’t leave his country because his currency has depreciated
– Gasoline at record highs.
– Supermarkets are out of supply.
– Inflation at 40-year highs.
– 50% of the world’s money has been printed in the last two years.
…
Obviously, it’s not just the fault of central banks. There are geopolitical conflicts that cause some of these catastrophes to occur.
What seems inevitable is that FIAT money does not meet the defining characteristics of money:
– ❌ Scarce
– âś… Divisible
– âś… Fungible
– âś… Durable
– ❌ Intrinsic
In the case of any currency issued by a central bank, we have that it is far from scarce. 50% of the dollars in circulation have been printed in the last two years. Moreover, FIAT money has no intrinsic value. This money was backed by gold held by a country or a central bank in the past. This is no longer the case today, as central banks only hold 40% of the world’s gold.
Unlike gold and FIAT currencies, Bitcoin has proven to meet all of these.
Bitcoin represents a whopping 43% of the entire cryptocurrency market. This scale gives it some advantages. According to financial technology firm Fundera, more than 15,000 companies worldwide accept Bitcoin as a means of payment (the report does not provide data on other cryptocurrencies).
Where to buy Bitcoin?
There are many alternatives. Generally, the best ones are exchanges such as Binance, Kraken, or Coinbase. However, it can also be done from a cold wallet through Moonpay.
Many people use Coinbase because it has the simplest interface to use, but what they do not know is that Binance is infinitely cheaper, although its User Interface (UI) is much more complex.
Do you realize how much money you are losing in transaction fees? It’s something that very few people pay attention to, but it causes you to pay a much higher price. Instead of paying the required price, you pay CoinBase a fee for facilitating the transaction for no reason. Some might argue that this is the price of using a trusted service. I would suggest it is due to a lack of knowledge or understanding of the alternatives available.
To avoid this problem, I will share with you several tutorials on how to get the most out of Binance: launchpool, staking, liquidity pool, margin trading, even down to NFTs.
While Binance’s commission is around 0.05%, for Coinbase, we are talking that the commission is approximately 1.5%.
So, what I do is buy my Bitcoins through Binance.
Once I have my Bitcoins in Binance, I don’t think of leaving them there. What I do is transfer them to a much safer place than any bank.
Best place to do Bitcoin holding?
The main advantage of cryptocurrencies is that they are decentralized assets. No entity controls our money. Therefore, our money is not exposed to misuse, as it happened during the 2008 crisis.
However, when we make a purchase with Binance, our Bitcoins are governed by Binance.
This is a danger, as many brokers have been hacked in recent years. The most notorious case is Kukoin (one of the best exchanges for lending stablecoins).
In addition, when an exchange has the money, we are vulnerable to government restrictions on whether or not it operates in a given country. Binance was banned in the US for a period of time.
I always prefer to have all the assets in one wallet for all these reasons. Here we have two types (hot and cold), but without a doubt, a cold wallet is much more advisable. Specifically Ledger. At first, it may seem expensive, but you know that your money is (very) safe as time goes by.
Ledger is where I keep all my Bitcoins. At the end of the article, I will tell you specifically how many I have with screenshots.
One consideration to keep in mind is that making transfers from Binance to Ledger costs around $15 (it doesn’t matter if you transfer $1 or $1M). Therefore, I recommend accumulating in Binance until you have around $1.5k-$3k to make a transfer to Ledger and thus avoid these transfer fees.
If you want to know a simple strategy to achieve extraordinary returns with Bitcoin and many other tokens you can do so HERE