The Effects of Inflation on Fiat, Cryptocurrency a way out || Reward Pool: 30 STEEM

steem4nigeria (74) in hive-147599 • 3 years ago

Hi Friends, it's nice having you all again after the last contest in the community. This time we want to bring us closer to our mainstay "cryptocurrency" as well as its preference over FIATs given to the prevailing economic situations around the world. In some parts, the inflationary rates are already in the skies, and in others, it's still low. But the overall impact is the devaluation of our so engrossed means of change "FIAT". A typical scenario is a recent invasion observed in the western world...

However, investing in cryptocurrency is risky but nevertheless where proper fundamental and technical analysis are put in place, the risks are lowered. Cryptocurrency has a lot of upside potential and its underlying platform is regarded as a viable market leader vis-a-vis the new market segment. Therefore, investing rightly in cryptocurrency is investing in the future success of the platform as well as in our overall profiteering.

It is our warmest pleasure to bring to us this contest title; The Effects of Inflation on Fiat, Cryptocurrency a way out.

Contest Hints

What are the different causes and factors of inflation that affect FIAT with relatively less impact on cryptocurrency
Why is it important to make cryptocurrency investments in our current dwindling economic
What are your experiences in holding cryptocurrencies; Positive or Negative (A brief narration will do).
What are the different ways of investing in the cryptocurrency space.

Contest Rewards & Distribution

The contest reward pool is 30 STEEM
The Top 5 posts win 5 STEEM respectively which amounts to 25 STEEM
The remaining 5 STEEM would be distributed among other participants

Guidelines

Write a detailed article of not less than 200 words. Add #invs-contest2 in one of the tags.
The contest ends on the 30th of April, 2022.
Avoid plagiarism by copying other participants or sources.

So, my people, we expect to see your entries jump in with quality as everyone would be rewarded accordingly. Do enjoy your time while writing and stay safe. Steem on.

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hive-147599 invs-contest2 club75 contest steemexclusive nigeria

3 years ago by steem4nigeria (74)

$0.71

17 votes

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ngoenyi (79) · 3 years ago

What a wonderful contest! Cryptocurrency is surely the only option out of the negative effects of inflation on fiat currency.

This contest is one of the best and I can't wait to read the entries. Let's see how it goes

$0.00

1 vote

[-]

fredquantum (76) · 3 years ago

This is a wonderful contest from the community Steem4Nigeria. Fiat currencies will always be associated with the effects of inflation and certain factors tend to contribute to such situations, let's talk about war as the author has highlighted in this piece.

As such, Fiat loses its value in the long run which generally affects the economy of the issuer of such currency and other investors that solely depend on its usage. Cryptocurrency can somewhat be a way to preserve value for investors, with the tendency of appreciating beyond mere keeping fiat assets. We hope to hear from the audience what their view is on the subject matter. Thanks for this contest, @steem4nigeria.