War Vs. Cryptocurrencies: What to do in Today’s Crypto Market?

War Vs. Cryptocurrencies: What to do in Today’s Crypto Market?

Why did cryptos go up?

There can be many reasons behind the growth, however, factors that likely contributed to it were cryptos’ decentralization, transparency, together with complete independence, and the lack of central control. If anything, this war went on to uncover the real power central authorities have over the financial and other systems. It is enough to take a look at all the sanctions imposed on Russia: freezing access to the entire banking system, disabling credit and debit cards, disallowing international transactions, as well as limiting cash withdrawals, and setting high-interest rates to avoid a bank run. These are the real proofs that the very reason why cryptocurrencies exist is, indeed, an answer to valid threats, such as abusing central control and having absolute hegemony over financial assets, currencies, and markets.

With cryptos, such sanctions are unheard of, as there is no central government or authority that has the right to impose them. As most cryptocurrencies operate on fully decentralized, tamper-proof blockchains with complete user anonymity, funds are never exposed to the potential dangers of being locked, frozen, or even seized by any power. Despite that, completely avoiding sanctions on a state level with them is not known to be possible. Also, even though cryptocurrencies likely don’t have the infrastructure and the necessary attributes to allow anyone to solely support military operations with them, they can come in handy as a temporary aid for internal banking systems in unstable times.

What to do?

With that said, what can investors actually do in such unprecedented times? The answer is simpler than you’d think: try to stick to your long term goals and strategy, without change, as this will likely lead to the best overall results. If you don’t have one, we highly recommend setting it up as soon as possible. An example of such a goal and strategy could be investing 10% of your net income every month, split evenly between five digital assets of your choice, for a total of ten years.

What not to do?

The most important thing in every unstable market is to keep calm, and not panic, as it (read more)…

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Invest, Trade & HODL Bitcoin and other cryptos on the UK’s best crypto trading platform. Visit us at https://www.coinpass.com/ https://www.coinpass.com/en/blog

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