Which fiat money are you holding right now in case of emergency needs?

[P2PECS]

I have three months of expenses in the official currency, a few grams of gold that are easily convertible to cash and BTCthat in some ATM I could convert to cash as well. Two sources of income and a few savings and investments. I do not expect the apocalypse to come. With that I think I will be able to get through the next few years, which look bad.

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[o_e_l_e_o]

In addition, God forbid anything happened to that bank.

Many (most?) countries have some kind of government backed bank insurance scheme, such as the FDIC in the US, which insures the money of depositors even if the bank collapses. See here for more details: https://en.wikipedia.org/wiki/Deposit_insurance

As much as I dislike fiat banks, losing my money because one has gone bankrupt is not a concern of mine, unlike all the people who have lost money on centralized exchanges and lending platforms which have gone bankrupt.

Hodling US dollar for me is preferable because the system has a strong regulation and monitoring of the financial activities in the country

Are you sure you are talking about the right currency? Strong regulation and monitoring? As the Fed print trillions of dollars out of thin air? As inflation hits double figures? Maybe it is strong compared to some other fiat even worse performing fiat currencies, but the US dollar is on a downward spiral.

[erep]

I understand your financial situation because the euro currency has decreased in value by 12% compared to the USD, so I believe you are anti-conversion from Euro to USD due to the inflationary impact of the war. I don't have an answer on which currency option to exchange for an emergency, but I just suggest to you:

- make sure you exchange to a currency that is stable and does not fall into the category of worst inflation in history or in recent years.
- choose a currency that is easily accessible on the nearest exchange or may also be supported for alternative payment modes, because you are only converting to another currency to avoid continuing inflation and you are also using it for daily purposes so make sure the currency is easily accessible to convert back to the Euro currency in the future.

[Smartvirus]

You need some money for emergency cases, so, you can't save everything in crypto because it's very volatile, the exchange charges you some fees to deposit/convert and withdraw.
I'm thinking about four currencies to hold for the next 2 years or more:

Having exchanges or even gambling sites to charge you on deposit is unlikely and very uncommon. What is more common is charges on withdrawal, swaps but most times, if you trade p2p, your likely going to be charged except the charges traditional banks levy on processing the transactions but that's often on the buyer.

Most of us now are no longer a fan of fiat currency but the lack of used cases for cryptocurrency makes it in evitable not to mention that the fiat currency is never going away. On what fiat currency to hodl, I'll also like us to take a look at how bitcoin has been doing through the various crisis in our world.

Russia and Ukraine began accepting aids in bitcoin just before the war started although not as an official currency but, they acknowledged it and I guess the result won't be different on a world scale crisis. It could mean well for cryptos.

[Sr.Urbanist]

I hold $USD and $MXN. But it is difficult to obtain, unless it's cash and there are conversion fees.

I, also, have some specie coins that are in other fiat but the value is separate from the fiat value.

[BIT-BENDER]

I don't think this topic needs any elongation. The best Fiat to hold in terms of emergency purposes is the Fiat of the country you in. This is a no brainer, if you need an emergency funds in Fiat especially for emergency purposes you need to have Fiat that can help you solve your situation and the Fiat that would be easily acceptable is the one of which government you currently in their country.

But if you need Fiat emergency purposes and you want one that is mild on Recession and it can also be very much acceptable even if you not In the Country that owns the Fiat. I would say the US dollars. This currency is like the general standard and could be most likely tradable any where in the world.

[bakasabo]

I am like many, holding both EUR and USD. First one because it is accepted in whole Europe and it is my local currency, second because it is and will be accepted worldwide, even in some specific countries. See no reason holding other currencies, as some people might be familiar with for example Swiss franc banknotes and could be confused seeing them. While everyone knows green pieces of paper with portrait of Franklin on them.

[virasisog]

I'm not holding for profit but rather keeping and saving funds for emergency purposes. I prefer our local currency which is convenient and easy to use when an emergency happens. Using other currencies won't be ideal since it will cause hassle when we're in rush or we need fiat to pay or purchase anything locally. It's fine to hold other currencies but when it comes to convenience, I think using a local fiat would be more ideal.

[dothebeats]

Used to hold Euro just a year ago but decided to just sell it because I kinda needed the money back then. Right now I'm keeping USD and our local currency and it has somewhat proven to be a good thing because every currency are getting weaker against the dollar and I could just sell it for a profit on a currency of my choosing and come out on top, kinda. I think it's a no-brainer to hold your local currency for emergency purposes and if you don't, then you'll have a hard time since you will be needing to convert whatever currency you're holding and that usually comes with fees.

[uneng]

I don't have access to any of those mentioned fiat currencies. Besides my local fiat currency I can acquire stable coins (digital dollar), but I'm not inclined to do that. I'm relying mostly in bitcoin and using only small chunks of fiat (national currency) for daily expenses. In emergency case, I will have to sell my cryptocurrencies, but that is the kind of thing we pray that it won't be necessary.

Among every disponible currencies in the world right now I'm trusting bitcoin as the first and main one. Thinking and observing the global economical scenario and its actors, I'm pretty confident btc won't disappoint us, while I can't say the same about any other currencies, because they are heavily susceptible to manipulation from inside.

There isn't a safe bet on this game, unfortunatelly. Future is unpredictable and you have to take some risks anyway.

[teosanru]

The current war has a huge negative economic impact on the whole world. The Euro has been worth well more than the dollar for many years but they are on par right now and I don't think that things are going well for it, the winter is coming! I'm afraid the inflation of USD will continue for a while and both, USD and Euro aren't great options right now.

You need some money for emergency cases, so, you can't save everything in crypto because it's very volatile, the exchange charges you some fees to deposit/convert and withdraw.
I'm thinking about four currencies to hold for the next 2 years or more:

• Swiss Franc
• Norwegian Krone
• Chinese Yuan
• Japanese Yen

What are your plans? I want to get an answer, especially from Europeans cause we all lost 12% of our money in a matter of days.

Do people store Fiat money from other countries with them for emergency cases? In my country government does not allow holding any international currency of more than a certain amount unless obviously, you can open a forex trading account, which is not easy to get open for normal retail traders, there are a lot of requirements for that. But yes if you want to hedge the risk then buying such futures is only the available option. Just talking the currencies which can go stronger will be the Chinese Yuan & Japanese Yen, one can even go for the Australian Dollar, it definitely won't be that much affected by NATO's fight with Russia.

[coupable]

In some countries it is not possible for citizens to store their money in a currency other than the local currency. I live in one of those countries and we are not even allowed to convert our money into international currency except for companies that operate on an international level. This includes even nationals working abroad who have to keep their savings in foreign banks in the countries in which they work.

Despite the recession that the world is going through, there are still few currencies that can be counted.

[Rruchi man]

Russia and Ukraine began accepting aids in bitcoin just before the war started although not as an official currency but, they acknowledged it and I guess the result won't be different on a world scale crisis. It could mean well for cryptos.

I quite agree, there are some forms of emergency that can render our local currency or fiat money useless. So while considering emergencies and how best to keep your money so it doesn't lose value or accessibility, be sure to keep it in say two unequal ratios where the higher ratio is allocated to cryptos and the lower ratio for your local fiat currency considering accessibility for emergencies.

[Furious 7]

I currently use fiat and crypto to store assets. I use fiat for my daily needs because it is undeniable that I can't live in the area I live in today without using it, as for crypto, this is my investment which until now I consider this a valuable one for me. But I in this case for fiat I still use local currency now and I don't even save in any other currency because my main storage remains in Crypto for Investment.

[Captain Corporate]

For store of value reasons then you could do whatever you want and put it all on crypto. Howevre you should also hold fiat for 2 reasons, one of them is spending, I spend fiat everyday because not many places accept crypto which is an understandable reason for why fiat should in our wallets all the time. But to hold stuff like BUSD or USDT etc? You should do that as well for when you think the market will go down and you could end up with a profit later on when you enter at a much lower level.

[serjent05]

Other than my local fiat currency, I tend not to hold any other fiat currency rather I hold unto investments such as Crypto, Bitcoin, Stocks and other investments. In case anything happens on these investment, I will try to minimize loss especially that I keep track of them most of time.

Same here.  It would be a hassle if I hold other fiat currency than the local currency.  I believe that is enough since I won't be going outside my country when the war escalates which I think has a very slim possibility.  I am more comfortable holding cryptocurrency than holding other currency and holding it in my bank account.  I also think that there will also be a problem if the bank stops operating for the said reason, and keeping a foreign currency in a "piggy bank" isn't convenient because I still need to convert it if I have to use it.

[famososMuertos]

In times of globalization where you can even open accounts in other countries online, you are limiting your options to your limited field of knowledge, you are making a playpen of Fiat currencies and you are limited to a range that you know, on the other hand that 12% is recoverable If you have an investment plan combining crypto and Fiat, you just have to know which currency to invest in. It's not easy, but that's the point. Many just want to see the euro, the dollar and wait for something to happen and recover.

It is the old school of having a currency and expecting it to have an exchange rate in your favor to obtain a benefit, generally that benefit depends on large amounts, a case to look at is the AUD with the USD, it depends on what you need you can obtain a return.

The point is that you cannot think of Hodl Fiat if you work in a crypto environment, that is, if you have to manage emergency funds,  these must inevitably be included in your calculations of Hodl Crypto and not Fiat.

[ololajulo]

All this economic war are just distraction, they are meant to move money around, somehow distribute wealth and make new millionaires. USA understand this war but the enemies of USA are careless to understand how to handle it. Russia is now looking for help everywhere to defeat Ukraine they least expect to extended this war this long. Russia is most hit by inflation although the world is also suffering from it and other countries have realize the important of living without Russia and the oil.

[BuNga_cute]

Other than my local fiat currency, I tend not to hold any other fiat currency rather I hold unto investments such as Crypto, Bitcoin, Stocks and other investments. In case anything happens on these investment, I will try to minimize loss especially that I keep track of them most of time.

Same here.  It would be a hassle if I hold other fiat currency than the local currency.  I believe that is enough since I won't be going outside my country when the war escalates which I think has a very slim possibility.  I am more comfortable holding cryptocurrency than holding other currency and holding it in my bank account.  I also think that there will also be a problem if the bank stops operating for the said reason, and keeping a foreign currency in a "piggy bank" isn't convenient because I still need to convert it if I have to use it.

For emergency needs I save local currency compared to holding other fiat currency, other than that, it is faster for me to access local currency if there is
an emergency need. I'm also like you not planning to go to another country, because I'm already very comfortable in my own country. So I also use
local currency more on a daily basis, so I don't think it's important to hold other fiat currencies. Moreover, if for investment, holding crypto is indeed
more effective which can provide benefits compared to holding other fiat currencies. So I never thought of holding other fiat currency in my bank account,
because I think the benefits of holding other fiat currencies are not that big for me.

[crzy]

Our local fiat money which I think is still the best option for liquidity. I have this emergency funds in my bank account so whenever a financial problem may occur, I can say that I’m ready. But that its not that much since I’m slowly building my financial capability and right now with fiat money, I see this one as of the important thing to do when handling your finances aside from investing. Though i find it hard sometimes due to limited resources but as much as possible, try to have a fiat currency in your account because it is still the best option that we can have.