Thursday, September 24, 2020

Safe Way To Protect Bitcoin in the event of dollar/euro devaluation

Hey everyone,

I've been following bitcoin for some time but don't currently own any of my own. Long story short, I am becoming a bit concerned that various geopolitical and economic conditions could lead to a massive devaluation of the dollar and euro in the somewhat near future. Maybe I'm totally off the reservation here, but my attitude has shifted towards "better safe than sorry".

In my limited research, it seems that bitcoin would be a good store of value, however my concern is in the best way to protect and hold bitcoin in a worst case scenario. This is to say, if the dollar and euro decrease in value so much so to trigger a minor or (or hopefully not) major economic collapse, what is the best way to ensure your bitcoin is stored and liquid? I would imagine that in a situation as I have outlined, platforms such as Coinbase and Robinhood would not be the best places to hold bitcoin.

Thanks in advance for any suggestions/advice.

tldr: what's the best way to protect and hold bitcoin in a disastrous economic situation that results in major platforms such as Robinhood/Coinbase not providing liquidity?


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