Recently I had a conversation with a group of women business owners about cryptocurrency and how confusing and volatile it can be.

 

On February 24th, Russia invaded the country of Ukraine. The impact was felt in Ukraine and across the world.

As expected, stocks took a plunge, as did almost all cryptocurrency coins.

 

Some people wondered if they could have done anything to protect their portfolio.

 

A few years ago, I talked with one of my husband’s mentees. He was heavy into cryptocurrency. I shared with him that most people may be crypto-curious but were hesitant to get into cryptocurrency because nothing backed most coins.

 

At that time, I mentioned gold-pegged cryptocurrency would’ve been notable for my birth country, Ghana (aka “The Gold Coast”).

 

My thinking at that time was that people would be more likely to embrace an asset-backed cryptocurrency because it’s tied to a real-world asset (for example, gold).

 

The most popular and well-known cryptocurrencies (Ether and Bitcoin) are not tied to any tangible world assets causing some people to pause before purchase.

 

But the hesitancy may go away if they add asset-backed cryptocurrency to their portfolio and, depending on the crypto, some of the volatility.

 

Why?

 

Because an asset-backed cryptocurrency’s fluctuation is tied to the real-world asset.

 

So if you’ve been hesitant to dive into the crypto space, don’t overlook asset-backed cryptocurrency as a way to protect against extreme volatility but inflation as well.

 

 

 

 

 

 

asd

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