Securely Storing Your Wealth in Crypto

As an expatriate, deciding where to store your wealth is crucial in managing your finances abroad. Whether you're relocating for daily needs, retirement, or adventure, ensuring that your assets are easily accessible and secure is paramount.

In today's digital age, there are numerous options for saving money, each with benefits and considerations. However, one option that has gained increasing attention is storing wealth in crypto. But why consider crypto?

How to Choose the Best Asset

There are several key metrics to evaluate when considering an asset for saving and growing wealth:

Liquidity

The speed and ease at which your cash can be converted into assets and vice versa.

Crypto evaluation: Crypto can be bought and sold on exchanges anytime 24/7, providing immediate access to cash in your wallet.

Inflation Protection

The asset's ability to shield against the impact of inflation.

Crypto evaluation: The Economic Times noted that Bitcoin has consistently delivered an impressive average annual return of 155% over the past five years. Ethereum has appreciated by 460%, both offering protection against inflation.

Scarcity

The rarity of the asset, which can drive up demand and value.

Crypto evaluation: Bitcoin's limited supply of 21 million coins contributes to its scarcity and value.

Diversification

The ability to spread risk and maximize profits.

Crypto evaluation: Besides Bitcoin, numerous other coins like Ethereum and Ripple are available for diversification, offering more than 500 options for investment in Indonesia.

On the flip side, crypto presents an opportunity to streamline your financial management as an expatriate. Using crypto, you can efficiently send substantial sums of money to your family back home in real-time, often at a lower cost than traditional remittance services.

Moreover, when relocating to another country, you retain seamless access to crypto from anywhere and anytime, ensuring your finances remain easily accessible and secure throughout your expatriate journey.

Storing and Safeguarding Your Wealth with Crypto

With the global number of crypto users reaching 420 million as of November 2023, significant asset management and financial institutions like BlackRock, Fidelity, HSBC, and Deutsche Bank have also embraced cryptos.

While staying current with advancements in asset and financial technology is commendable, it's crucial to approach it with research, clear goals, and strategic intent rather than merely following trends.

Here are some tips for effectively preserving your wealth with crypto while living abroad:

Research and Select a Secure Crypto Platform

Before delving into crypto, opting for a reputable and secure crypto platform is vital. Conduct thorough research to assess safety protocols, regulatory compliance, and available features. 

Platforms like Luno, registered and supervised by BAPPEBTI - Commodity Futures Trading Regulatory Agency, offer robust security measures like two-factor authentication, biometric verification, and trusted device authentication, ensuring users' peace of mind.

Diversify Your Crypto Portfolio

Diversification is critical when storing wealth in crypto. Spread your investments across various crypto to mitigate risks and optimize potential returns. Consider stablecoins like USDT or USDC, pegged to the US dollar, offering stability amid market fluctuations. 

With Luno, you access a range of cryptos to construct a diversified portfolio aligned with your financial objectives.

Establish an Inheritance Plan

Develop a comprehensive inheritance plan for your crypto to ensure seamless transition and peace of mind for your beneficiaries. Clearly outline procedures for accessing and managing funds in unforeseen circumstances. 

Regularly Evaluate and Assess Your Holdings

Periodically review your crypto portfolio, considering market dynamics, regulatory shifts, and evolving financial goals. Adapt your investment strategy and security measures to safeguard wealth and optimize returns.

By remaining vigilant and proactive, you can effectively manage your crypto assets while residing abroad.

Continuously rely on trusted platforms like Luno to conduct transactions seamlessly and confidently, enabling you to explore the crypto world at your convenience.

Download the Luno app on the Google Play Store and App Store. Use LEB2024 promo code while registering on Luno to get free Bitcoin worth Rp100,000.

Luno is registered and supervised by the Commodity Futures Trading Regulatory Agency (Bappebti). Trading and investing in crypto assets is a high-risk activity. Read more on our Terms of Use here: www.luno.com.