Cryptocurrency. What is it? Where did it come from? Why is it here? Where is it going? It is my belief that Bitcoin still has a very bright future and this post is intended to present the two biggest reasons why Christians would specifically profit from taking advantage of this asset class.
What is Cryptocurrency?
A cryptocurrency, such as bitcoin, is a decentralized digital currency found only on the internet. It first arose in January of 2009 in response to the 2008 financial crisis. Its intended purpose is to act as a type of digital gold so that it can be a hedge of protection against endless money-printing and growing inflation.
A Quick Disclaimer
I am not a financial advisor. Thus, I am not qualified to legally advise you on what to do with your money. This is simply my opinion. Please do your own research before investing.
Two Reasons to Consider
1. It can offer protection from religious persecution.
This is a big one. Though American citizens, for the most part, have been very blessed, there have been instances of religious persecution take place even within our own borders. Certain government leaders have made examples of some Christian bakers and wedding photographers, who have refused to go against what they believe, by having their bank accounts drained.
Bitcoin prevents this from happening because, unlike a bank, cryptocurrencies are entirely under the user’s control. The only way someone would be able to gain access to your funds is if you gave them your private keys. So, as the world is actively becoming even more violent towards Christianity, I believe bitcoin and other crypto assets could end up serving as divine provision during future persecution.
2. It can fund overseas mission opportunities.
In our current financial system, the fastest and cheapest way to send a large sum of money overseas is by getting on a plane and flying it over there yourself – which, especially during the pandemic, is entirely impractical. Banks charge outrageous fees and, depending upon institution, deposits can remain in the “pending” stage for days and even weeks. But, as you guessed, cryptocurrency solves this dilemma.
Bitcoin allows the user to send any amount of money to any person in the world in a short amount of time [the longest being a few hours / the shortest being mere seconds]. And since there is no middleman, the fee is much smaller than what banks and credit card companies normally charge. This also prevents missionary funds from being seized in transit because it is only sent to the one individual and remains entirely under their control.
I recently read a newsletter from a mission agency seeking to help people in another country during the food shortages which are taking place because of COVID-19. The issue is that there was no way to get the funds into the country by traditional means. However, that is not the case with cryptocurrency. Bitcoin solves this problem because bitcoin knows no borders.
Persecution is coming and the Gospel is expanding. These two go hand in hand. So, as Christians, let us be on the forefront of this technological revolution and let us prepare ourselves for what lies ahead.
If you read this entire post, congratulations! Caitlin did not think you would make it this far….