How I protect my Great British Pounds from devaluation?

17th September 2019 / By / Investment Guides

Protect my great British Pounds...

The new British Prime Minister Boris Johnson is making it very clear that Britain will leave the EU on the 31st October 2019 “WITH or WITHOUT a DEAL”. I am sure our leader did not pick this from the U2 lyrics which could just make us all cry. All blame is not the newly elected Prime Minister as it was the public that voted for leaving the EU. However, the majority vote was not well informed that the Great British Pounds could lose their value such drastically. So in this article ‘How to Protect your Great British pounds’, shows what I would do with my hard earn money!
 
I have taken these critical steps to secure my falling value currency and taking a huge risk with our family’s wealth. Please think it over carefully before taking my advice. In short, I would rather take the risk than leaving it under the bed depreciating from inflation, low-interest rates and also falling currency value.
 

What is the impact of the falling British Pounds to our daily lives?

It has been more than 2 years since the Brexit successful vote by the general public. Back then 1 GBP was to US$1.5 and today the GBP is to US$1.2. That is a huge 25% devaluation in the currency. 

According to our Ex Chancellor of the Exchequer UK, Phillip Hammond, the no-deal Brexit is economic suicide. This will impact the increased cost of leaving with increasing fuel price, food and services. In the past two years, the supermarket has been increasing prices of imported food in various high street supermarkets. According to the BBC report, UK import 30% of food from the EU and 10% from the rest of the world. With the Great British pounds depreciating every day towards Brexit, our food will get more and more expensive.

 

Let me ask you a real question!
 
 
Have you received a huge pay rise at work or business to compensate for increasing cost and depreciating pounds?
 
 
Likely answer NO!
Honestly, it feels like we have received a huge pay cut since the Brexit vote and we are paying for it.
 

No to this old-school methods!

1. Buying Foreign Currency?

It is too late! There is no point trying to speculate if the pounds will fall further or even recover slightly. If you were Nostradamus, you would have bought plenty of US$ just before the Brexit vote 2 years ago. Make the 25% diff and invest in the money in the US Stock market and make another 50% further.

2. Investing in depreciating Properties?

This is only possible if you have a lot of savings which you are willing to part and invest in another home for rental investment. However, with the HMRC slapping restriction and additional taxation on a second home on a buy-to-let, it is no longer a lucrative business. Only property prices beyond the £800,000 (without Stamp Duty) mark in London may still be a lucrative business since there is a demand for rental in good area schools.

3. invest in Stocks & Shares?

Buying shares in a fearful market is one way for long term investment. Please do follow my guides and stocks recommendation page. However, my number one rule of thumb is always having two pots; Investment funds and Emergency Funds. 

4. Should I buy Gold?

Yes, there are many ways to buy gold according to this article. With the price of gold at an all-time high with the global financial market at a boiling risk, many would hesitate to buy it at the peak price.

My Answer is CRYPTOCURRENCY!

Yes, I am well invested in a diversified portfolio. However, do I just leave my emergency savings funds in the bank and allow it to depreciate? Is there anything else I can do?
 
 
This week I have started my first investment in CRYPTOCURRENCY!
 
 
I laughed, hesitated and concern about cryptocurrency for many years and now I have taken a dip and eventually started my first alternative currency investment.
 

What is Cryptocurrency?

A CryptoCurrency is a decentralised form of valued currency which is driven by blockchain technology with its encryption techniques. During its boom in 2012-2017, the cryptocurrency market has opened companies and evolve its technology further with the younger generation public support. Many forms of cryptocurrency have evolved and open active trading markets in the last five years. I can go on for the next 2 hours on Crypto Currencies as there are thousands of them out there. Rule of thumb is to focus on the reputable ones and not try to re-create a wheel.

My Recommended Online CryptoCurrency Broker!

After my research and speaking to a few key players within my professional network, I have opted for a company called CoinBase. Four reasons why I have decided to bank my money with CoinBase.

1. Ease of Use

Coinbase is as easy to use and self-explanatory. If I do run into queries and problems I can easily YOUTUBE the question and there is bound to be somebody there already explaining the solution. A large user-based platform always has its popularity advantage.

2. Security Feature

 
Security features. A minimal two-step security feature is truly important. A personal password and followed by a google authenticator providing time-based random number generator. You can also opt for a better hardware wallet via TREZOR too. Which I also highlighted recommend getting, if you planning to invest a lot of self hard-earned cash into the system. (Link here)

3. No Long Chain Password

I do not need to remember super-duper long chain wallet numbers.

 

4. Major CryptoCurrency

 
Plenty of reputable cryptocurrencies available. The key top four are Bitcoin, Ethuereum, Ripple and Litecoin. You can hold GBP and Euro wallets to buy via cash and they exchange between the various currencies.
 

CoinBase

We Both Will Make Get Free US$10 If You Use This Link!

CoinBase Referral

What have I invested in?

After my discussion with my peers, I have opted for Eutherium and XRP as my starter portfolio holdings.
 
 
Eutherium is affordable at about £170 per coin. It’s a good low price at the time of writing this article. Also, I find it difficult owning a fraction or decimal of a coin, yes I am referring to Bitcoin which is worth more than £7500 per coin. I also like Eutherium because many other coins are using Eutherium blockchain technology. This way it gives me confidence the technology is fool-proof.
 
 
Ripple XRP, is used by several institutional banks already! Ripple can replace SWIFT payments. With a price of £0.26 per coin, it is too cheap not to own a few. However, on the platform, you cannot buy Ripple with cash. However, you can buy Ethuerium Cash under £100 a coin and convert these Eth Cash into XRP. Simple!

The Reason Why CryptoCurrency is in Demand!

When South Korea had its Crisis with their communist border of flying nuclear rockets. The local citizens bought Bitcoins to secure their currency value in a different form. Same can be said to Venezuela and Zimbabwe when then currencies when into hyperinflation cycles which lost its currencies within months.
 
 

Personally, the UK will not fall into any of the three categories, but I am taking the risk to take a plunge into Crypto Currencies as a new diversified investment. 

Using falling Great British pounds to buy Cryptocurrencies at it is low priced just now. There is only one way and its UP!

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