Hey everyone,Recently I have been reflecting upon how Bitcoin can really be used by ordinary people, not just HODL and hope or pray. Always we hear how some people got rich overnight, but in reality most of us have the harder struggle of keeping the value of what we do before inflation take a nibble at it and slowly depleting it.
Consider yourself, or somebody with a fixed salary in a quickly escalating-prices country. More often than not, money in your wallet will lose value as each month passes even when you feel your income is sufficient. And that is where Bitcoin comes in handy not as a ticket to the lottery but as a hedge.
So this is what I have found out and experimented myself:- Monthly Allocation: Just buy a little bit of your income, say 5 to 10 percent and always convert it to Bitcoin. In the long-term this develops a buffer to inflation without affecting your day-to-day expenditure.
- Liquidity: Liquidity coins exist when you need money to pay some bills or urgent things. Having some of your money in the backs of the stablecoins and your Bitcoin develops would help you rest easily.
- Smart Spending: Whether it is by making small payments or in the form of remittances, the use of bitcoin makes you comfortable in using the currency. You begin treating it as the actual money, not only as an investment.
- Mental Discipline: This is the most difficult, not to be hyped or panicked. Moving to follow the high price, or take a sell, at the low, seems easy. Introduce specific guidelines that determine when to purchase, hold or sell small parts will keep your plan in line.
I would love to ask you all: how do you as an individual use Bitcoin to safeguard your own savings, or purchasing power? Do you have any innovative things you have done that are more than simply holding long term?