There I am now, inflation has accelerated very strongly, but at the same time the government is trying to control it by offering deposits with huge interest rates through banks. So if the population puts money at these rates, then, of course, they will not completely avoid the depreciation of their money over the year, but nevertheless they will save a very large part. But personally I do not like such methods, and I prefer to store in cryptocurrencies or dollars.
Because these methods allow you not only to preserve your capital, but also to increase it.
The only way to beat inflation is to find something that pays more than inflation. The banks would never pay more than the inflation percent there is.
keeping money in crypto is a good idea, as you said. But I also feel it matters which crypto you have. Bitcoin is the obvious first choice but you might want to invest in others as well because the market is volatile .
Previously I thought investing in Gold was good but it's clearly not a good idea. Maybe investing in the shares market can help but it's kind of gambling. Have to constantly work out what pays the most and probably there is no "single-solution-forever".
Obviously every investment option carries risks, and it is certainly difficult to make a single choice, but we still have to choose one of several options as a place to protect the value of money from inflation. Although prioritizing Bitcoin, it is not wrong to divide the amount of money you have into gold, or buy land. Its value will continue to grow although not too fast, but the initial goal of protecting the value of money can be achieved.
Many people are still misled by time deposits and the profits offered by banks. When you truly analyze it, the returns you get will never surpass the existing inflation rate. It's better to keep money in the bank solely for monthly expenses and limited emergency funds. Beyond that, investing in Bitcoin, gold, or other assets becomes a wiser choice.
As much as possible on which diversification will be always having that kind of advantage on which we know that once you do able to apply out this kind of strategy then inflation isnt something that would bother you since you can be able to sustain or able to survive out on what are those economic bad situations just because you do have multiple income source. The thing on here is that on how you would be able to build or make one? We do know that building up a business or investment is never been that simple yet it would be that requiring that sufficient amount before you can start up. On what we had mentioned on here about real estate, gold or other assets then it will be needing up that sufficient amount for you to be able to start up or deal with it. This is the best strategy but it wont come easy because it will be needing up that capital, proper planning, back up plans or simply having the patience on holding up for long term. We are all thriving on having that kind of target because this will be the most common way on combatting inflation because you do have multiple income source but always consider out that not every steps or actions be made will be that resulting into positive results because there's always a risks of failure on which some people are that afraid on facing it out and this is where they will be that hesitant on doing such forward step because they dont want to fail and they dont want to lose money. If you wont be considering out on having these plans or steps then you wont be having any progress into your life and you would be continue on suffering on shortage specially if you are just that an average dayjob wage earner then it will gradually becoming that so hard to live on year to year as inflation keeps increasing.