Sunday, February 5, 2023

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Consumer prices are measured by the consumer price index (CPI). Economists use this vital tool to assess inflation and deflation before deciding which direction to take with investments. Unfortunately, the bad news is that the CPI for All Urban Consumers (CPI-U) increased by 1% in May 2022, according to the most recent figures released by the Bureau of Labor Statistics.

Inflation has steadily risen to 8.6% for the year ending May, the most significant annual increase since December 1981.

Americans Are Spending Their Savings

Over the last two years, Americans saved an estimated $2.5 trillion. Still, now they are using their extra cash reserves to weather the storm of increasing prices, particularly for fuel, food, and housing.

Unfortunately, these price increases, particularly the jump of 50% for gas and the increase of about 9.4% in food prices from last year, have led 67% of Americans to dip in their savings to cover their living expenses.

Leading economists say the peak in inflation will be much higher than previously thought and arrive later than expected. Moreover, inflation is dramatically affecting America’s savings since they are tied to the U.S. dollar, a fiat currency that increases and decreases according to the economic tides.

That means that someone with $1,000 saved means that the actual buying power of that money falls to $940 with the current inflation. Furthermore, someone with $10,00 in savings can see as much as $600 evaporate from their nest egg before they even touch it.

Fighting Inflation

One way the U.S. can fight inflation is by increasing interest rates, something the Federal Reserve has already done and will follow up with more measures. However, there is the danger that this may not budge inflation, and there are fears that interest rate increases could also cause a recession.

Another way to counteract inflation is holding non-local fiat currencies and inflation-protected assets. Still, there are often limitations about which currencies some countries allow their citizens to purchase, and there are often limits on the amount they can invest.

Economists are urging people to diversify to protect their excess cash. Staking is one way to curb the erosion of inflation.

Earning Staking Income with ndau

Ndau is the adaptive digital currency originally built by Oneiro, a digital asset pioneer. Supported by a decentralized ecosystem, the optimized digital currency has a long-term store of value. The premier DeFi solution on the Cosmos Network is built on the Tendermint protocol and has built-in economic structures that provide greater stability and has the ability to rise in value as demand increases.

Furthermore, ndau provides several benefits not found in other digital currencies. These include fair and accountable governance, dependability, and superior safety. Since it is not pegged to fiat currencies or commodities, ndau presents the necessary characteristics that long-term holders desire.

Staking With ndau

The recent launch of the ndau native wallet allows holders to stake funds after they buy and hold them. Staking with ndau enables them to earn even more and eliminates the need for staking providers – commonly known as the middleman. Stakers retain custody of their assets throughout the lock period. They also receive their bonuses directly, giving them access to passive staking rewards.

Ndau makes it easy to earn staking rewards. Anyone holding ndau in their wallet app can earn extra through Ecosystem Alignment Incentives (EAI). They can also make an additional bonus for locking ndau over specified periods. These include anything from 5% per annum if locked for three months or as high as 25% for three years. Holders can choose their preferred lock period.

There are similar programs on the blockchain running on Delegated Proof of Stake consensus algorithms. However, the complicated mechanisms these rely on leave interested users dependent on staking providers who have custody of the funds. With their native wallet, ndau bypasses these middleman services, leaving you in charge.

Getting a ndau wallet is as easy as downloading the app and following the instructions. In addition, the app dashboard is easy to navigate and choose your lock-time options.

The price of ndau increases by 0.0971% for every thousand units issued; currently, there are 10 million out of the total reserve of 30 million. However, ndau’s robust features ensure its role as a store of value.

Final Take

Protecting your savings from inflation and the threat of a recession is not an easy feat. However, diversifying at times like these can help protect your savings from evaporating. One of the simplest and safest ways to buy and hold stakes is through ndau’s wallet, which allows you to earn even more with staking.

“Cryptocurrency holders know the risks associated with ceding custody of their funds or relying on third parties to start earning a staking bonus,” says John Lester, ndau’s VP of Operations at Oneiro. He continues, “With ndau, holders get 10% annually for holding the currency and up to 25% for locking it on one of the most secure DeFi holders on any network.”