In the near future, you may have to face a difficult decision: whether or not to move into decentralized digital currencies. The reason is that governments seem intent on freezing citizens’ funds. But if you take your money out of traditional banks and invest it in decentralized cryptocurrencies, such as VergeCurrency, then even a government freeze would be powerless against you. Of course, there are risks involved with investing in cryptocurrency—which we will discuss below—but the upside potential is worth it.
Governments are taking more control over citizen’s finances than ever before by freezing their bank accounts
Governments have been increasingly taking control over their citizens’ finances by freezing their bank accounts. This leaves citizens with little choice but to find an alternative way to store their money. This is where decentralized digital currencies come in. By moving your money into a digital currency like VergeCurrency, you can protect it from government interference. However, it is important to note that there are risks associated with investing in cryptocurrencies, which we will discuss below.
But first, let us look at the recent history of government interference with citizen’s finances.
Recent events seem to indicate that governments around the world are preparing to take draconian measures and freeze people’s funds in their bank accounts. It is not just about currency control; it is about total control over citizens’ financial lives. Here are some examples of the most significant events in this trend over the past few years:
Cyprus – In 2013, banks across Cyprus started imposing withdrawal limits and taking money out of people’s accounts. Although there was some initial confusion and disagreement about what to do, it soon became clear that the government was behind these actions. Investors lost some 60% on their savings.
Iceland – The government of Iceland has taken a confrontational approach towards big bank investors, whom it accuses of having bankrupted the country’s banking system in 2008 by imprudent risk-taking. Investors have been forced to take losses.
Greece – The Greek government has been trying to get a handle on its debts, partly by imposing limits on withdrawals from banks and ATMs.
France – In 2016, the government of France experimented with “green” money that was created to encourage people not to use cash. This experiment was short-lived, but it did highlight the government’s increasingly assertive attempts to control citizen’s access to their money.
Argentina – This is a country that has been making headlines for years with its very confrontational approach to investors in its national currency, the peso. To date, Argentina has imposed strict limits on the purchase of US dollars, leading many people to store their money in other currencies.
Now, it is important to note that some of these events took place during the financial crisis of 2008/2009. It is impossible to know whether they are indicative of a growing trend or simply holdovers from that tumultuous time. But either way, you should keep an eye out for signs that your bank may be planning to take control of your funds.
What is VergeCurrency?
VergeCurrency is a decentralized digital currency, similar in some ways to Bitcoin and other cryptocurrencies. One of the key differences with this cryptocurrency is that it focuses on privacy and security. In fact, its developers believe that is provides the most secure way to perform anonymous transactions online. This means that if you have some savings, you could store it in VergeCurrency and sleep soundly at night knowing that it would be virtually impossible for someone else to access your funds.
Of course, investing in any cryptocurrency comes with risks. The most obvious of these risks is that people simply may not be interested in the currency, which would drive the price down. However, there are also more specific risks associated with investing in VergeCurrency. For example, it is possible to lose your investment by losing the encryption key needed to access your digital wallet. If this happens, you will no longer have access to your funds, and they will be lost forever.
Don’t Let Your Funds Get Frozen From Your Bank Account
But the risk of government interference with your funds is perhaps even greater than these risks associated with investing in VergeCurrency. After all, you may lose your investment due to a loss of interest in the currency, but there is no way for anyone to take control of your money without physically accessing it. If you want to avoid this risk, you should consider investing in VergeCurrency as soon as possible.
Of course, there is no guarantee that the price of VergeCurrency will rise. In fact, it may even fall further from where it is now. If this happens, you may have lost a good investment opportunity by waiting too long before purchasing your tokens. But on the other hand, if you are able to buy before the price rises again, you could make a net profit when your investment eventually does increase in value.