Cryptocurrencies are for those who want to avoid prying eyes and there is no financial privacy in traditional banking; at least that’s what crypto money fans say. In a recent podcast, Sarson Funds National Accounts Director Kate Shughart shared her thoughts on Bitcoin-related financial freedom ideals. Shughart said:
“Financial freedom is the fundamental aspect of the cryptocurrency. It also helps banking and creates an efficient system that reveals the traditional banking system. ”
However, contrary to the popular opinion, Shughart says that although people adopt BTC, it may not be the right time for new investors to step in. In fact, Alex Saunders stated that the cryptocurrency market lacked new users, pandemics made people unemployed and enabled them to make money as a last resort. On the contrary, several reports showed that new users were running to Bitcoin after falling below $ 4,000. Commenting on the same issue, Shughart said that people entering the cryptocurrency industry in the same month as halving will be on a rollercoaster journey. Shughart added:
“If many people who individually enter the crypto space have not done their proper care and research, there is no point in entering it right now. At times like this, they will just lose money. They should have come a few months in advance. ”
A Reliable Alternative
In addition to financial freedom, BTC has been identified as a reliable alternative to eliminate traditional markets. However, the main concern here is whether people can adopt BTC when their cryptocurrency trades just under $ 10,000. Will an ordinary man invest nearly $ 10,000 and buy a Bitcoin? And even so, trading and paying transaction fees can be an additional material weight.
Many recommend buying altcoins, if not BTC, as a solution to this. It is a really good alternative to BTC. Coins such as ETH, LTC, XRP and others are now trading at an accessible rate. This brings us to the next concern: If people don’t get the BTC designed for community use, who will get it? What will be its availability? So the fear of eliminating BTC by other altcoins is actually not quite possible.