What is Bitcoin?
Bitcoin is a decentralized digital currency that runs without a single administration or central bank. It was developed in 2009 under the alias Satoshi Nakamoto.
A public database known as the Bitcoin Blockchain records transactions and employs encryption to safeguard and authenticate those transactions. Bitcoin users can trade their currency directly between themselves (known as peer-to-peer or P2P) or on various online platforms such as Cashwyre.
One of the significant features of Bitcoin is that there are 21 Million Bitcoin assets, making it a deflationary cryptocurrency and a scarce commodity. Furthermore, Bitcoin transactions are irreversible, which means that once a transaction has been completed, it cannot be undone or cancelled.
Why save in Bitcoin?
Once upon a time, there was a man named Samuel who put a lot of effort into his work and made a respectable living. But Samuel wasn’t a huge fan of budgeting. He loved to spend his money on things that would give him pleasure right away, such as new technology, dining out, and travel. Samuel had little concern for the future and felt that he could always find a method to get more money if he needed it.
Samuel, however, began to notice one day that the cost of products and services was rising quickly. His wage was not keeping up with inflation as the price of food, housing, and transportation all appeared to be rising. Samuel found his lifestyle becoming more expensive, and he was having trouble making ends meet.
Samuel came to the conclusion that he ought to have been putting more money away all along as time went on. He wished he had saved some cash for unexpected expenses or retirement. He understood that over time, inflation could reduce the value of his funds, making it more challenging to meet his financial objectives.
Samuel gained valuable knowledge on the value of financial planning and saving through this experience. He understood that the threat of inflation to his financial stability is genuine and that he must take action to prevent his savings from depreciating over time.
Samuel started to put more emphasis on saving money by allocating a portion of his monthly salary to a Bitcoin savings account. Samuel employed a Bitcoin-focused platform to automate his savings strategy so that he could retain consistency and discipline. This assisted Samuel in overcoming the ongoing depreciation of his currency brought on by inflation and achieving a more stable and predictable financial life.
In conclusion, Samuel’s story offers us a valuable lesson about the value of putting money away in the safest, most valuable asset ever invented. Over time, inflation has a tendency to reduce the value of our money, therefore we must take precautions to avoid this risk. We can achieve financial security and live the lives we want by automating our savings, making smart investment decisions, and making long-term plans.
How to Auto-Save in Bitcoin on Cashwyre:
1. Go to the google play store and download the Cashwyre App.
2. Register with your valid information.
3. Complete your verification process.
4. Fund wallet using your Local currency, Bitcoin or Stablecoin (USDT)
5. Go to the Savings menu and click on Create Plan.
6. Fill out the form to set up your savings plan and submit it.
7. Cashwyre automates the rest following the created plan and frequency.
NOTE: Cashwyre will only auto-save if your wallet is funded. If not funded, Cashwyre will remind you before the next savings attempt.
For more information on Cashwyre, kindly visit our website (https://cashwyre.io) and/or join our Telegram Community (https://t.me/cashwyre).