Think of cryptocurrency as an alternative currency.
It is a currency that the government and the banks find difficult to control.
In my view, that is a good thing!
As I write, there is a huge amount of press surrounding the banks shutting down accounts. It began with Nigel Farage (former UK politician now broadcaster) having his account shut down at Coutts Bank (A branch of National Westminster Bank) and famous for being the bank used by the British Royal family.
You can read the full story here: SKY NEWS
This episode has opened a can of worms. Numerous prominent people including politicians have stated that their accounts had been closed by various banks. It has now been established that recently over one million accounts have been shut down, most without reasons given. However, the underlying reasons are that the people’s views and public stances don’t align with the bank’s views.
Here’s another recent story about a company that banked with Barclays for almost 40 years!
Read the story here: Mail Online
Think about that. A bank has the power to destroy someone financially because they don’t agree with their views! Imagine going to the hole in the wall to get some money out, or going online to pay for your shopping etc. only to discover your bank has closed your account…
Furthermore, we are becoming a cashless society, with branches closing in their hundreds, and cash machines disappearing. On top of that, some businesses (cafés, shops, restaurants etc.) are stating that they will not accept cash as payment. They cannot actually refuse the coinage of the realm as it is legal tender, but they are…
The reason the government, banks, and HMRC or the IRS want a cashless society is simple to understand. They can then control every single penny of the money you get in and spend out! It is already happening in countries like China, where they have total power and control over people’s everyday spending.
That is truly frightening.
So my point is simple. Cryptocurrency is one way for the ordinary person being able to keep some money out of the bank’s clutches, thereby safeguarding them if anything should happen in the future.
The downside?
Cryptocurrency can go up and down. So you might have $10,000 in Bitcoin one day and only $5000 the next day. Conversely, you might find the value of BTC has risen overnight and you are much better off!
Cryptocurrency has also had a rough ride, as it is currency favoured by the criminal underworld, used to buy drugs and weapons, and to fund extremism. So it has had a bad rap.
Hold on a minute though. Don’t criminals use ordinary money to buy drugs, weapons etc.? So, it is no different, surely? A million dollars in crypto can be hidden far easier than the same amount in dollar bills. This is why the authorities give it such bad press – again, they find it difficult to get their hands on it.
There is one cryptocurrency that you can get, and squirrel away which will not change in value. It is called USDT and is worth one dollar, more or less. You can keep some money safely tucked away – and believe me you should!
In summary, there are many reasons why you should set up an account at a cryptocurrency exchange such as Binance, Kraken, Kineses Money. And the is even more reason to get an ‘offline’ wallet to hold your cryptocurrency in, such as a Ledger wallet. This is a bit like a thumb drive, that nobody except you can access.
Note: Banks, PayPal etc. make it difficult to purchase cryptocurrency with your debit or credit card. As such, they are ALREADY controlling what you can buy! There are various ways to purchase USDT. Contact Us if you want to know more