Post
Topic
Board Nigeria (Naija)
Merits 6 from 2 users
Re: Investing in Bitcoin can save you in times of war
by
promise444c5
on 25/06/2024, 09:36:37 UTC
⭐ Merited by DiMarxist (4) ,hugeblack (2)
When COVID came and it became impossible to hold physical meetings, zoom gained relevance and became the solution to what would have caused major problems for most companies.

war can lead to a total shutdown of banks and all financial institutions causing even those that have money inability to use their money. We saw a slight fraction of it during the scarcity of the naira and we know how bad it was and that it can get worse should banks stop functioning totally due to war.

We don't pray for war but we can't assume it can never happen so we should prepare for the worst while hoping for the best and keeping part of our investment in Bitcoin will be a sure option.

If you have Bitcoin and banks stop functioning, it's just simple to make transactions through it pending when things will go back to normal and the Bitcoin can be converted back to cash. This is the reason why it's good that even people in the market environment know about Bitcoin so they know its numerous advantages and how it can come through for us in times when our banking system can't work again.

Yes you can have your  Bitcoin In time of wars if you stored it in the right way....
Which means you can still lose it if you hold your coin in an exchange wallet and the exchange company gets affected on war... there might be a compensation  maybe after the but that's on a very low scale.
Using a non custodial wallet to hold your coin cab still give the safety for your coin in time of war, just keep you seed phrases safe and you will be fine to withdraw your coins so far there  are still active  miners to mine themand include it in their various  blocks .
Not totally  against  exchange  because  exchange  is still useful for business types ... if you will be needing  to exchange from time to time(from the word exchange) else if you will holding  it for a long time and you have the sole purpose of holding only Bitcoin  maybe... then get a non custodial  wallet because  apart from securing your coin  it provides Privacy.