Crypto Is Becoming More Than an Investment... It’s a Life Saver

Don't Leave Home Without It                                                                                                                                                                                                                                                                                                                                                                                                                 October 18, 2024 | [Listen Online]( | [Read Online]( [Teeka Tiwari]( & Houston Molnar mailto:?subject=Post%20from%20The%20Digital%20Asset%20Daily&body=Crypto%20Is%20Becoming%20More%20Than%20an%20Investment...%20It%E2%80%99s%20a%20Life%20Saver%3A%20Don%27t%20Leave%20Home%20Without%20It%0A%0Ahttps%3A%2F%2Ftiwariresearchgroup.com%2Fp%2Fcrypto-is-becoming-more-than-an-investment-it-s-a-life-saver Crypto Is Becoming More Than an Investment… It’s a Life Saver “Funny how our cards stop working once we leave the country, isn’t it?” I was in the checkout lane at a convenience store in Singapore and the credit card I handed the cashier was repeatedly getting declined. The line behind me got longer. I started to feel embarrassed and frustrated. A guy behind me quipped that American credit cards don’t work in Singapore. I traveled from South Florida to Singapore to attend Breakpoint 2024, the world’s largest Solana conference. On the second day of my trip, I stopped by a 7-Eleven to get some food. I had money in my bank account, but that wasn’t the problem. The problem was I just couldn’t access it. I always keep $20 in cash on me for situations like this. But since I was in Singapore, the cashier didn’t accept my U.S. dollars. After three attempts with two different cards, I gave up. Aside from the embarrassment, I didn’t think it would be a big deal. Once I got back to the hotel, I’d just call the credit card company and have them activate the card. But I thought wrong. It was a big deal. My cell phone service provider doesn’t offer plans in Singapore. And the hotel where I stayed didn’t allow international calling. So I couldn’t contact the credit card company. I was stuck in Singapore with no access to my bank accounts and only $20 in my pocket. Panic started to creep in. I learned a valuable lesson that day… It doesn’t matter whether you have $10 to your name or $10 million. If you’re locked out of the traditional financial system for whatever reason, you’re out of luck. But as I’ll show you in today’s essay, there’s a way to gain access to your money whenever and wherever you travel in the world. So you’ll never find yourself at the mercy of traditional finance. The Financial System of Tomorrow Every week in Digital Asset Daily, Teeka and I show you why we believe crypto is the best asymmetric investment in the world. That’s because you don’t need to invest a lot to make a lot in this asset class. For instance, since we recommended bitcoin (BTC) and Ethereum (ETH) in April 2016, they’ve seen peak gains of 19,548% and 54,100%, respectively. That’s enough to turn $1,000 into $196,477 and $542,000. But crypto isn’t just an asymmetric investment that can accelerate your wealth building much faster than traditional assets like stocks, gold, and real estate. It’s also reshaping the world economy. Now, many Americans don’t see this. But as I learned in Singapore, outside the United States, crypto is helping many people survive. For example… - In Argentina, citizens are dumping the peso for bitcoin and U.S. dollar stablecoins to escape hyperinflation. - In 2021, El Salvador became the first country to make bitcoin legal tender. Migrant workers from El Salvador are now sending remittances back home in bitcoin because the transaction fees are lower than sending dollars or other fiat currencies. - In Ghana, Nigeria, and South Africa, merchants are using a crypto payment provider called BitPay to handle transactions. Across Africa, Asia, and Latin America, people are turning to crypto. That’s because crypto payments are faster and cheaper than traditional international money transfers, which means users can keep more of their money instead of paying large currency exchange rates, transfer rates, or other fees. They can also remit money to their families cheaper, faster, and in a more secure manner using blockchain technology compared to traditional financial payment rails. As an American, you trust that the traditional banking system will work. It almost never fails you. But what if it does? That’s the valuable lesson I learned in Singapore. It doesn’t matter how much money you have in the bank. If you can’t access it, you can’t eat or catch a taxi to your meeting. Crypto Has More Utility Than Just an Investment When I got back to the hotel, I asked the front desk attendant if there was any way I could organize a taxi ride without cash or credit card. They pointed me to an app called “Grab.” It’s essentially the Uber of Singapore. I downloaded the app and prayed I could connect my bank account to it. But what I discovered was much better. The app has a feature that allows you to use crypto to pay for your ride. It seamlessly converts the crypto to Singaporean dollars. My frustration turned to joy, knowing that I had $50 in my digital wallet that I could use to pay the taxi driver. Within seconds, I was free to travel the city. Or so I thought… When I got in the taxi, I told the driver my card wasn’t working and I had to pay him in crypto. He suddenly pulled over, worried I couldn’t pay for my ride. But after looking at the app on his phone, he said, “You’re good. You already paid. What’s crypto?” This is what I mean when I tell you crypto is a game-changer. The taxi driver had no idea how I paid him… Nor did he care… He just wanted Singaporean dollars in his account. And that’s exactly what that app did. From my side of the transaction, I sent a U.S. dollar-denominated stablecoin over the blockchain to an account. From his side, he received the local currency for his services. The transaction fee to send $50 in stablecoins over the blockchain was $0.0098, or less than a penny. As you can see in the image below, I wasn’t charged a fee for the conversion. So using my dollar-denominated stablecoins cost me less than a penny extra. At that moment, my experience wasn’t about bitcoin being a great store of value or long-term investment… It proved to me that blockchain technology was much faster, more efficient, and more secure than the legacy financial system. Plus, on the blockchain, I have full control over my money. When a bank holds your money, you’re at their mercy. If you’re traveling abroad, converting physical cash to another currency isn’t always easy. In some countries, the nearest currency exchange might be miles away. And some require a minimum amount of money before they’ll make a transaction. And even when it’s easy to convert currencies at an ATM or bank, the transaction fees can be outrageously expensive, costing 8% or more. Since stablecoins are similar to digital dollars in your bank account or a credit card, they’re instantly converted into the local currency within apps. You don’t need a middleman. And the transaction fees are a fraction of a cent. That’s why I believe crypto and the blockchain technology that powers it will be the future of money. Don’t Leave Home Without It In the 1970s, American Express launched one of the most famous ad campaigns in history with its catchphrase, “Don’t leave home without it.” The slogan was originally used to promote the company’s travelers cheques. People came to associate the slogan with the security and convenience American Express offers when traveling abroad. Today, crypto fills that role with its convenience, security, and portability. You don’t want to leave home without some crypto in your digital wallet. The next time you travel abroad, you might find yourself in a similar situation as me. But in an increasingly digital world, you might find your stablecoins to be more useful than physical cash like I did. That’s why I believe it’s critical to set up a digital wallet and load it with $20-$50. It’s like having some emergency cash in your pocket. Setting up a digital wallet where you have full control over your money might just save you like it saved me. My favorite digital wallet is called Phantom. It lets you access and manage your crypto assets across multiple blockchains. You can learn more about it [right here](. Now, if you’re like many Americans, you’re probably not familiar with setting up crypto wallets. At Big T’s Inside Crypto, we have an entire video course along with guides that give you step-by-step instructions on how to open accounts and set up digital wallets. Paid subscribers can get the instructions [here](. If you’re not a paid subscriber, you can [go here]( to learn how to become one. You’ll also see a replay of Teeka’s presentation on what he considers one of the hottest subsectors in the market to start your crypto investing journey today. Regards, Houston Molnar Share The Digital Asset Daily You currently have 0 referrals. [Click to Share]( Or copy and paste this link to others: [ [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 2024 Tiwari Research Group 1607 Ponce De Leon Ave San Juan, Puerto Rico 00909, Puerto Rico [Terms of Service](