Thursday, June 20, 2024

When will we learn from history to save our cryptocurrency and ourselves?

Crypto has been people’s way of beating the inflation that has been happening all over the world. Not only that, but it also helps people with risk management. With housing and stocks plummeting and out of reach for most people, there is a high chance that people switched to crypto to eliminate some of the risks.

Crypto has been growing at an exponential rate and so have its supporters. With tech moguls like Elon Musk wholeheartedly supporting the DeFi endeavor, it has seen an astronomical rise in its adoption too.

With countries like El Salvador adopting BTC as an official tender, there are chances that other countries might do this soon too. The growing adoption of crypto all over the means also shows that people are ready to invest in risky ventures given that it can help beat inflation.

Stablecoins like USDT might seem like a safe bet but the recent crash of Tether and LUNA suggests otherwise. These cryptocurrencies lost almost all of their value overnight and are recovering slowly. There is a long time before they reach the levels that they had achieved before. Now at $0.0765, the stablecoin is nowhere near the dollar value that it was supposed to have.

With volatile prices, it is best to have your cryptos in a cold wallet of some kind to protect yourself from market crashes. The crypto exchanges offer no protection to the buyers whatsoever. So you must take it upon yourself to be safe.

With the prices of all cryptocurrencies lower than what they were speculated to be, right now is the best time to invest in them and reap benefits later on.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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