Savings refers to an amount set aside for the future,for some it's the amount remaining after expenses,to others it's a priority and they set it apart before spending.
"Pay thyself first before paying someone else"Savings is often the fortress in bad times and many who have savings are able to take hold of opportunities when they does appear.
"savers are losers"From early childhood,our parents would counsel us that a dollar saved is a dollar earned. That was true while money was still sound and well the nations were built on strong economic principles. Prior to 1971,the US dollars was seen as a standard,some even called it a silver certificate,the currency was backed by actual gold but President Nixon came with a declaration that changed all that,rather than for our money to be a store of value,it became a Federal Reserve Note(IOU) and ultimately a liability.
"inflation wipes out savings"
Venezuela is a nation whose inflation has gone beyond description,The Economist report as at 2018 states that 3.5 million venezuela bolivars were worth $1. The same report talked about objects called "Money Art",the currency has become so worthless that the citizens now use them to make hand crafts in forms of bags etc.
To put things in perspective,let's consider the people who have worked and served their nation for the past 35 years,if all a person could save for those periods were 350 million bolivars,he would be left with just $100 thanks to hyperinflation.
Now let's consider the sacrifices he made time-wise,at 8hrs per day for 5 days a week for 52 weeks for 35 years,he would have worked 72800 hours, imagine 72800 hours thrown into the mud.
Another thing to consider with savings is that if you saved $1 10 years ago,the purchasing power over time decreases as the value of a currency decreases,while the amount saved remained fixed,it purchasing power is diminished.
maybe if what you saved ten years could get you a house,maybe today it may not even be enough to rent an apartment how much more buy an apartment.
And to add salt to injury,banks and making savings instruments are paying less interest on savings accounts and in the same vein interest rates on borrowing is at astronomical highs.
The blockchain solution
Necessity is the mother of inventionThe financial crash of 2008 taught a lot of people very powerful lessons,many institutions had to shut but change was not imminent,rather wait for those in authority,Satoshi Nakamoto came up with the bitcoin whitepaper and would later release bitcoin and do you know that since 2009 when it was launched till date,it has been the best performing asset class,it has exceeds those of gold,silver,stocks,index funds,S&P500 and lots more.
Bitcoin is sound money created on sound economic principles.For the first time people have money that they can trust and they do not have to trust anyone,the amazing part is that he(satoshi) has left the scene since the early days of bitcoin but the network has continued to flourish. Bitcoin created a system of money where the minting of new currencies is done via some rules,the currency has a limited supply and the affirmation of transactions will be done with the help of third parties and not banks or other central clearing houses. Since bitcoin launched,many other cryptocurrencies have launched and the ecosystem is flourishing.
What is Lyf coin all about?
Lyf Coin is a window into the world of endless crypto opportunities,there are many opportunities to make a fortune in crypto but most of them are too hard to grasp and the newbies or average users often miss out due to technicalities. Imagine entering the crypto space that you are bombarded with terms like staking,yield farming,fibonacci graphs etc.
It is clear that many people just want to make money with crypto without having having to deal with the complexities and Lyf Coin is here to help.
It is a platform for all things staking,before now one has to have some minimum amount of coins before they can stake,they also have to possess some technical knowledge.
The lyfcoin platform provides an opportunity to earn with staking coins and non staking coins,it has affordable plans that anyone can subscribe to and it also has a prioprietary technology that ensures that the prices of assets staked are not affected by market shift.
Staking is taking on mining,mining requires expensive hardware and cheap electricity to run,it's competitive computational wise but staking is green,consumes very minimal electricity,requires less technical expertise and less competitive.
12% monthly airdrops supposing you bought $1500 worth of X coins at $0.08,you will get 18750 coins after airdrops, you will get 11250 coins,so your new number of coins is 30000 coins. At the same price as when you bought them,you now have 30000 * 0.08 = $2400 if the coins went low ,you will still make profits.
It has a team of experts that thoroughly seeks and reviews masternodes,staking coins and non staking coins and make them available to investors. It's staking that is verifiable on the blockchain.
steps
Earn Lyf coin by bounties or buy them on an exchange
Lyfcoin is currently running a bounty campaign,you can earn tokens from there and use for the staking or buy them on an exchangeOpt in for one of the staking plans
Staking platform with verified staking slots
Lyfcoin voting
The lyfcoin team has set aside $1 million in lyfcoins to the voting process,anyone can nominate any coin for voting and are eligible to vote once on a daily basis.
Website: https://www.lyfcoin.club/
Whitpaper: http://bit.ly/2pQvNKL
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Bounty0x username: ighomaria
This is a sponsored article written for a bounty reward.