Everything Preppers Need to Know About Cryptocurrency

You read about cryptocurrencies, but what are they and should they be part of your preparedness plans? We look into this question and make specific recommendations.

As bitcoin climbs past $13,000 for the first time since 2017, it is generating some news coverage.  Add to this the media coverage about different countries planning to launch their own cryptocurrency, and the question comes up:  Does cryptocurrency have value to preppers? 

Today, we’re going to explore the question in some detail.

Some Preliminaries

First, let me give you some background: I worked as a 1099 contractor for a cryptocurrency mining company, and I own at least five different cryptocurrencies, so I know a little bit about the industry.  I have multiple wallets and have made purchases using crypto, so I have hands-on experience as well.

Second, please keep in mind that there are literally thousands of coins. (Cryptocurrencies are often called “coins” even though they are not something you can hold in your hand. They are electronic and exist only in the online world.) While they may share some properties, they are not all alike.  They have different behavior, levels of security, values, costs to trade, and are traded on different platforms. Some can be mined inexpensively by individuals while others cannot.  Do not assume something I say about Bitcoin applies to Neo, for example, or any other coin. 

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