From Bitcoin ATMs to Lightning Network. We’ve asked a few of our wasabikas what some of their favourite things about Bitcoin were that made this year a bit more bearable. Here’s what they had to say:
Having a Savings Account Makes Sense Again:
I remember in the olden days, my grandma deposited her money into the bank because the interest rate was high enough to make this worthwhile. In the last thirty years, this has not been the case.
Things have changed with the introduction of digital currency. It has been said that having a lot of FIAT is the worst option you can have as it is constantly losing value. A better option would be storing your value in Bitcoin – it’s worth keeping as much as possible in savings.
One of my favourite things, however, is gifting this experience to my friends and family members who are unfamiliar with Bitcoin. Take a look at Riccardo’s article on how to do this with Wasabi Wallet.
Wasabi Wallet is the only privacy bitcoin thing that I use because it’s the only thing that is user friendly enough for a bitcoin noob like me.
Do Nothing and Earn:
This is a little off topic, but I used to play World of Warcraft and there’s an expression that means ‘Do Nothing And Win’. With Bitcoin, the concept is the same: you do nothing and Earn – DNAE.
When I was at my workplace before Wasabi, we were in contact with Dávid. He told me about a possible job opportunity but when we got into the details I was not sure about it. How could I stay alive if I received my salary in Bitcoin? How will I turn it into fiat currency?
When Dávid told me that he keeps his savings in Bitcoin, I asked him immediately, “isn’t that risky? What if it drops in value?” He said, “if it drops, then it will rise again and the best thing about keeping it in Bitcoin is: you do nothing but you get richer.”
I bought 10 USD worth of Bitcoin then and at the end of the month, it was worth 12 USD. At that point, I understood what Dávid meant … I did nothing with it but it was worth more.
The Bitcoin system is stable but the missing key is privacy. We at Wasabi Wallet have solved this. Bitcoin will grow to the moon. What is worth 1x today, will be worth 2x later. We just need to plan for the long term, be patient and it will pay off.
- Bitcoin Core
- Bitcoin Knots
- Lightning Network
COLDCARD is an affordable hardware wallet that can be backed up easily via an encrypted microSD card. It’s one of my favourites because it has the ability to pair with any hardware wallet which is a very unique feature that enables you to send and receive directly to and from a hardware wallet.
The ability to turn cash into Bitcoin in only a few taps on a tablet screen not only makes bitcoin ATMs AMAZING INNOVATIONS but another one of my favourites. It doesn’t take much effort to get the coins. All you need is cash to Buy bitcoin from your local ATM and nothing is more private than cash.