Bitcoin to the rescue

5 Reasons Bitcoin Is Better Than Cash During Economic Hardship

A currency that is resistant to a crisis is ideal.

During economic fluctuations, we feel nervous about our finances. It gets downright terrifying when an unforeseen disaster or crisis sweeps the globe and throws everyone off their game.

Money is scary at times like this. Here are 5 reasons Bitcoin is a more suitable currency for modern times.

1. Bitcoin doesn’t close its doors- ever. When disaster strikes or we find ourselves in crisis, there is always the risk of banks closing the doors. In the world of traditional banking, operating hours change frequently. There is no guarantee that you will be able to meet with your banker. The person who is in charge of storing your money might be ordered to stay home.

2. Bitcoin is clean. Bitcoin is an electronic cash system. The funds on a blockchain never physically touch anyone or anything, so there are no germs to worry about. No sanitizing hand-gel is needed to transact digitally.

3. Bitcoin resists economic collapse. When we have all our finances tied up in banks, there are multiple hands in the cookie jar before you get your cookie. When governments struggle, interest rates rise, lending laws change, and the bottom line for the consumer continues to shrink. Bitcoin does not rely on any governing entity to continue operations. Bitcoin is operated fully by the network of users.

4. Bitcoin has no borders. Bitcoin is inexpensive to transfer- no matter how far away the recipient is. Sending regular cash to another country is costly, and intrusive. If you send cash through the wiring system, be prepared to fill out tedious forms, share your identifying personal details, wait long periods, and risk money being held up on either side of a transaction. The middlemen involved in government-regulated currency transfers are numerous. Governing agencies are employed specifically to monitor and regulate money movement vigorously.

5. Bitcoin enables shopping from home, easily. Bitcoin transactions are only conducted electronically. There are no middlemen or wait times to process your transactions. You can see on the publicly distributed ledger that your funds have been sent to the destination you selected, and the receiver will see the same information as you every time. There is no need for a paper receipt because the blockchain is the best receipt you can ever wish for. Can’t lose a blockchain in your purse, can you?

There are many things we simply cannot control, in our modern lives. Bitcoin users have the benefit of being in control of their funds, in most cases. If you hold the private key to your Bitcoin wallet, you own the contents of that wallet. Congratulations.

During economic hardships, I am so glad to be a Bitcoin kind of girl.

Check out the original Bitcoin White Paper by Satoshi Nakamoto:

Cheers.

• Disclaimer* Bitcoin is a risky and volatile cryptocurrency. Diversify, baby. I am not a financial professional, and I am not an attorney. None of the views expressed in this post should be taken as advice. Seek professional guidance before investing, buying, or trading cryptocurrency. Good luck.