so you can save in digital dollars

In recent months, the world has had to face an economic crisis accompanied by high inflation, this situation has hit the finances of millions around the world, who have seen their purchasing power continually decrease.

In the context of this situation, thousands of people are looking for alternatives that allow them to protect their savings and, therefore, some have resorted to different digital services to achieve this objective.

In fact, one of the tactics that has become a trend to cushion the blow dealt by the global crisis is the acquisition of digital dollars as a strategy to avoid the devaluation suffered by the Colombian peso (and other currencies) when the US currency rises in price.

The increase in the price of the dollar has caused savings in Colombian pesos to be devalued. – Photo: Getty Images

What are digital dollars?

Digital dollars (USDC), also known as Stablecoins, are digital assets that have a value equivalent to the US dollar, each one of them is issued on a blockchain and is backed by a real dollar that are in fiduciary deposits to ensure their equivalence. at all times. Therefore, this is a very useful resource to protect savings in periods in which a currency presents high market volatility.

According to Peter Pinedo, Director of Technology at Efy Finance, Investing in digital dollars is currently an operation that can be done easily and safely, since the innovations in digital wallets and other technologies have eliminated cumbersome paperwork that represent opening a dollarized bank account.

“Saving in digital dollars is for everyone, today it is as close as a few clicks on our computer or cell phone, therefore, anyone with internet access can make savings in digital dollars,” stressed Pinedo.

Through Dollarize it is possible to buy dollars in the United States.
Digital dollars are a resource to save in another currency quickly and safely. – Photo: Getty Images/iStockphoto
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currently exist various platforms operating in an ecosystem of digital banking, Thanks to it, it is possible to buy digital dollars easily and with full transparency, since it is possible to have full traceability of the operation.

Services such as Efy Finance or Airtm, among others, have financial technology to facilitate investment in virtual currencies by simply downloading an application for mobile devices, creating a user and following the instructions indicated by each platform. Besides, these services allow these assets to be used more freely when moving the user’s money in other operations.

What recommendations do you give before saving in digital dollars?

Despite the fact that there are currently different types of digital dollar issuers, it is essential to get adequate information before starting to invest in the Stablecoin market. For this reason, it is vital to verify the reputation of a platform and consult all the details surrounding the purchase of digital assets and the processes involved in the transfer of electronic currencies such as digital dollars.

Experts recommend that people who are interested in saving to enter this type of investment should start their savings with an amount of $100 or more. The same way, it is suggested to invest a capital that is not destined for the payment of debts or that could be required to pay an obligation in the near future.

Blockchain technology ensures that transactions with digital assets are secure. – Photo: Getty Images

Finally, it should be noted that the use of digital dollars would contribute to increase the popularity of the use of cross-border interbank payments and this would also lower the costs of such operations. But in addition to allowing payments to be faster and cheaper, these are operations that are developed using blockchain technology and for this reason they are transactions that enjoy great security because those who execute them can carry out detailed monitoring of all moves that have been made with your money.

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