Investing in Crypto for the Millionaire Survivalist
In today’s world, we often hear people discussing the merits of investing in Bitcoin, a specific brand of cryptocurrency that’s digital and untied to any country or bank. While this is a relatively new consideration, the theory that underscores the technology is not. More importantly, the traction it’s gaining as a hedge against the value of the world currencies is reflective of the fear of economic collapse associated with buying gold. Many people prepping for doomsday, aka “preppers,” believe crypto to be the way forward.
Today on Rob Raskins’ Millionaire Survivalist, we’ll consider the merits of Bitcoin, Ethereum, and other cryptocurrencies as a hedge against the loss of the dollar if the SHTF.
Millennial Preppers – Untie! (sorry, wrong joke…)
Now that Gen Xrs are no longer the Spring chickens ready to throw the baby out with the bathwater to change the world, the Millennials can finally begin to understand what all the hubbub is about. As the Boomer generation works harder to return to the “tried and true,” they’re prone to respond to infomercials touting the merits of buying gold. Why? Because it’s always been the safest bet? True, but it could also have something to do with the fear of a world going to hell in a handbasket.
Meanwhile, the Gen Xrs are reaching the age of wanting to work less for their money and are as likely to consider the sage advice of their elders about gold and property, while also considering the advice of the Millennials who believe that digital currency will still have value when the governments fall.
According to investors, a little risk is fine when you’re young and single, but crypto is arguably as stable an investment as gambling in Vegas. However, given it’s a digital currency accepted in most mainstream places and all the dark web places, this conceivably offers an additional form of purchasing power. Of course, if the servers go down in an EOTWAWKI scenario, then it’s worthless anyway. Once again, it’s a gamble.
Needless to say, it’s not the best choice for trying to get out of debt. If you can afford it and are curious, a small percentage of your investment fun can be risked on Bitcoin and Ethereum, for example. You can do this effectively in Coinbase, which is the most widely known, trusted, and accepted place to buy and sell crypto.
Many “preppers” are all too happy to invest in a currency that’s independent of any nation or banking cartel. It makes perfect sense ideologically, but many aren’t aware that when crypto is sold for a profit, the ROI must be claimed on taxes, the same as any other investment income. Furthermore, the very idea that this will be the currency of the future is based on a world that has no laws but still has the internet.
Like my grandfather used to say, “The best investment is antique firearms because they go up in value, but unlike paintings, you can use them to shoot.”
Click to learn more about crypto: https://theprepared.com/prepping-basics/guides/cryptocurrency-blockchain/