With the U.S. Federal Government adding $11 trillion to the money supply, equity values are the first place to “bury” surplus cash. In the last 60 days, the coronavirus pandemic halted economic life while Congress and the Federal Reserve funded big companies and forced small businesses to fight for strips. Eleven trillion dollars later, the one-centers are made whole, the stock market executed a perfect “V” shaped recovery and 60 million people are out of work or dying like flies.
Indeed, the country is starkly divided between the rich with influence and the other kind who are abandoned and confused. The disparities that normally fractured our culture are becoming even more pronounced as we decide, collectively, what we want to save – and what deserves to be saved.
Guess who are the deciders?
A killing in Minneapolis has changed the game plans of the rich and making choices complicated because for the first time the average citizen wants answers, be part of the solution process, and not more noise.
The pandemic of 2020 had exposed racism to a pernicious level. COVID-19 has produced inequalities that are difficult to deny and impossible to accept. Meanwhile, for the rich and powerful, it is great to be an American, until now. May 26, 2020, marked the beginning of the end in America’s economic and political power as the centered version of capitalism. The shocking footage broadcasted around the world of Derek Chauvin, a white cop pressing his knee on the neck and face of a helpless, handcuffed, struggling-for-air-black-man will cause selling more paper money much harder and at the high process.
The federal government will have difficulty “printing” trillions of dollars in paper money and cause the rest of the world to buy its form of capitalism. As an economic system, capitalism requires the government plays a secondary role as people and companies make most of the decisions and own most of the property. The means of production are largely or entirely privately owned (by individuals or companies) and operated for profit. By the federal government acting a “socialistic state” by giving away trillions of dollars, the funding of that debt in whatever form will cause inflation from called “the Asset Market Boom.” Undeniably, inflation can be injected from the asset market. The connection between the prices of goods and services and those of financial assets is tenuous. Lines of causation can exist, particularly though commodities futures. The value of the dollar declines as a marketing mechanism to sell trillions of dollars in federal debt. Investor and lender confidence would be shattered, gold prices climb as nervous investors look for a safe place to put cash pulled out of the market. The domino effect will start slow and accelerated to a panic state within months. Paper dollars will lose value at a rapid rate.
Gold is a haven in times of inflation because it retains its value much better than currency-backed assets, which may climb in price, but drop in value. Today, gold has competition from cryptocurrencies as an inflation hedge because the U.S. Fed's balance sheet has expanded by double-digit trillions of dollars in just a matter of months to fund stimulus programs aimed at mitigating the economic damage caused by the coronavirus pandemic and the race riots.
CREATE YOUR PERSONAL CRYPTOCURRENCY
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use SABR, Bitcoin, or any other cryptocurrency, you will need to have a digital wallet.
How Do They Work?
Millions of people use cryptocurrency wallets, but there is a considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets records of transactions stored on the blockchain.
Cryptocurrency wallets are software programs that store your public and private keys and interface with various blockchains so users can monitor their balance, send money, and conduct other operations. When a person sends you bitcoins or any other type of digital currency, they are essentially signing off ownership of the coins to your wallet’s address. To be able to spend those coins and unlock the funds, the private key stored in your wallet must match the public address the currency is assigned to. If the public and private keys match, the balance in your digital wallet will increase, and the senders will decrease accordingly. There is no actual exchange of real coins. The transaction is signified merely by a transaction record on the blockchain and a change in balance in your cryptocurrency wallet.
What are the different types of Cryptocurrency wallets?
There are several types of wallets that provide different ways to store and access your digital currency. Wallets can be broken down into three distinct categories – software, hardware, and paper.
Desktop: Wallets are downloaded and installed on a PC or laptop. They are only accessible from the single computer in which they are downloaded. Desktop wallets offer one of the highest levels of security however if your computer is hacked or gets a virus there is the possibility that you may lose all your funds.
Online: wallets run on the cloud and are accessible from any computing device in any location. While they are more convenient to access, online wallets store your private keys online and are controlled by a third party which makes them more vulnerable to hacking attacks and theft.
Mobile: wallets run on an app on your phone and are useful because they can be used anywhere including retail stores. Mobile wallets are usually much smaller and simpler than desktop wallets because of the limited space available on mobile.
Hardware: Wallets differ from software wallets in that they store a user’s private keys on a hardware device like a USB. Although hardware wallets make transactions online, they are stored offline which delivers increased security. Hardware wallets can be compatible with several web interfaces and can support different currencies; it just depends on which one you decide to use. What’s more, making a transaction is easy. Users simply plug in their device to any internet-enabled computer or device, enter a pin, send currency and confirm. Hardware wallets make it possible to easily transact while also keeping your money offline and away from danger.
Paper: Wallets are easy to use and provide a very high level of security. While the term paper wallet can simply refer to a physical copy or printout of your public and private keys, it can also refer to a piece of software that is used to securely generate a pair of keys that are then printed. Using a paper wallet is relatively straightforward. Transferring Bitcoin or any other currency to your paper wallet is accomplished by the transfer of funds from your software wallet to the public address shown on your paper wallet. Alternatively, if you want to withdraw or spend currency, all you need to do is transfer funds from your paper wallet to your software wallet. This process, often referred to as ‘sweeping,’ can either be done manually by entering your private keys or by scanning the QR code on the paper wallet.
Are Cryptocurrency wallets secure?
Wallets are secure to varying degrees. The level of security depends on the type of wallet you use (desktop, mobile, online, paper, hardware) and the service provider. A web server is an intrinsically riskier environment to keep your currency compared to offline. Online wallets can expose users to possible vulnerabilities in the wallet platform which can be exploited by hackers to steal your funds. Offline wallets, on the other hand, cannot be hacked because they simply aren’t connected to an online network and don’t rely on a third party for security.
Although online wallets have proven the most vulnerable and prone to hacking attacks, diligent security precautions need to be implemented and followed when using any wallet. Remember that no matter which wallet you use, losing your private keys will lead you to lose your money. Similarly, if your wallet gets hacked, or you send money to a scammer, there is no way to reclaim lost currency or reverse the transaction. You must take precautions and be very careful!
Backup your wallet. Store only small amounts of currency for everyday use online, on your computer or mobile, keeping the vast majority of your funds in a high-security environment. Cold or offline storage options for backup like Ledger Nano or paper or USB will protect you against computer failures and allow you to recover your wallet should it be lost or stolen. It will not, however, protect you against eager hackers. The reality is, if you choose to use an online wallet there are inherent risks that can’t always be protected against.
Update software. Keep your software up to date so that you have the latest security enhancements available. You should regularly update not only your wallet software but also the software on your computer or mobile.
Add extra security layers. The more layers of security, the better. Setting long and complex passwords and ensuring any withdrawal of funds requires a password is a start. Use wallets that have a good reputation and provide extra security layers like two-factor authentication and additional pin code requirements every time a wallet application gets opened. You may also want to consider a wallet that offers multisig transactions like Armory or Copay. A multisig or multi-signature wallet requires the permission of another user or users before a transaction can be made.
Multi-currency or single-use?
Although Bitcoin is by far the most well-known and popular digital currency, hundreds of new cryptocurrencies (referred to as altcoins) have emerged, each with distinctive ecosystems and infrastructure. If you’re interested in using a variety of cryptocurrencies, the good news is, you don’t need to set up a separate wallet for each currency. Instead of using a cryptocurrency wallet that supports a single currency, it may be more convenient to set up a multi-currency wallet which enables you to use several currencies from the same wallet.
Are there any transaction fees?
.In general, transaction fees are a tiny fraction of traditional bank fees. Sometimes fees need to be paid for certain types of transactions to network miners as a processing fee, while some transactions don’t have any fee at all. It’s also possible to set your own fee. As a guide, the median transaction size of 226 bytes would result in a fee of 18,080 satoshis or $0.12. In some cases, if you choose to set a low fee, your transaction may get low priority, and you might have to wait hours or even days for the transaction to get confirmed. If you need your transaction completed and confirmed promptly, then you might need to increase the amount you’re willing to pay. Whatever wallet you end up using, transaction fees are not something you should worry about. You will either pay minuscule transaction fees, choose your own fees or pay no fees at all. A definite improvement from the past!
Are cryptocurrency wallets anonymous?
Kind of, but not really. Wallets are pseudonymous. While wallets aren’t tied to the actual identity of a user, all transactions are stored publicly and permanently on the blockchain. Your name or personal street address won’t be there, but data like your wallet address could be traced to your identity in a number of ways. While there are efforts underway to make anonymity and privacy easier to achieve, there are obvious downsides to full anonymity. SABR project has beefed up privacy and anonymity through stealth addresses and coin mixing, payment cards with full privacy.
Which Cryptocurrency wallet is the best?
Consider how you intend to use it:
Do you need a wallet for everyday purchases or just buying and holding the digital currency for an investment?
Do you plan to use several currencies or one single currency?
Do you require access to your digital wallet from anywhere or only from home?
Take some time to assess your requirements and then choose the most suitable wallet for you.
Why we believe SABR wallet with a payment card is the solution
Get on-demand access to your loyalty points, air miles, etc., by utilizing the SABR payments solution. The platform simplifies the process, allowing customers to spend directly from your SABR account with a debit card. The cardholders will be able to have real-time access to the value of their currencies at ATM’s and will be able to spend at any POS terminal where Mastercard is accepted.
Global Transfers: Transfer funds to any anywhere in the world securely within minutes. The end-to-end process is seamless and extremely cost-effective compared to conventional banking processes and will help you to reduce your operating expenses.
Payroll: SABR card payments solution is one of the most convenient ways to pay your employees. You can set up a business account with us in as little as 72 hours. You can use our Partner portal to enroll employees, issue them with a personalized Card, load funds onto employees’ cards, and view reports. Immediate access to their funds and full control, security, and ultimately success for your business.
Offshore: SABR helps offshore companies set up and manage their money in a fast, efficient, and secure way. By utilizing our award-winning payments platform, funds can be transferred from business accounts held with us to prepaid debit cards easily and instantly. Can be used by businesses in the following sectors: Maritime, Pensions, Construction, Trust distribution, Aviation, and many more.
Recommended for transactions from $10,000.00 to $1,000,000.00 IN USA Depository Bank Name: Pacific Mercantile Bank Bank Address: 949 South Coast Drive, Third Floor, Costa Mesa, CA 92626 Bank Phone: 1 (702) 840-4000 Credit To: Prime Trust, LLC Address: 330 S Rampart Ave, Suite 260, Las Vegas, NV 89145 Routing Number: 122242869 Account Number: 45585603 SWIFT Code: PMERUS66 Reference: QCCUSNZDH
For International Wires from $5,000.000.00 to any amount Receiving Bank: CBH Compagnie Bancaire Helvetique SA Boulevard Emile-Jaques-Dalcroze 7, 1204 Genève, Switzerland SWIFT: BSSACHGGXXX Reference: FFC CBH Bahamas Ltd. CBH House, New Providence, N-1724 E Bay St, Nassau, Bahamas SWIFT: BSSABSNSXXX. Beneficiary Name: Elco Securities Ltd Beneficiary Acct Num: 5380