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

[Jatiluhung]

My mind is completely blank when I have to think about which fiat currency I should hold. I only hold money for a short time, namely to shop at the supermarket. Even I am always surprised by the exchange rate of money that continues to shrink. maybe that's the impact of inflation. but I don't think it's a good thing that we currently hold this type of money for years. because the exchange rate will always shrink.
even long before this inflation news was crowded. in fact the value of any currency continues to shrink.

but I don't know where you live.
but what is clear is where I live now every year I feel the exchange rate of fiat money here continues to shrink.
and the value of the price of goods continues to increase every year.

so it's not really the price of goods that has increased. but indeed the value of the currency itself is shrinking or falling.
if you want to keep it for a few years. you better keep pure gold. or bitcoins. or if you have enough money. then you better buy it into a plot of land, or property that continues to increase in price every year.

[Republikcoin.com]

I have been scammed recently and the only saving I had is gone and I am left with nothing.
If there is any emergency I would better die than to have a treatment - I also pray to God - not to give me any sickness because I have no one to take care of.

Has the savings you once had been stolen or hacked by someone at this time? And if any of the questions I ask the answer is Yes. Then you need to be patient for that because there may be a few mistakes that you made, causing a loss in the savings that you have saved so far. I am concerned if it is the only asset you have or the asset you currently have. But I don't think you can't live after that loss.

[gunhell16]

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.

I don't know what point you are trying to make with this topic. Also, regarding the fiat currencies you mentioned, I'm not from there, and I don't have any relatives there, so there's no reason for me to hold those for 2 years.

So what now if the cryptocurrency mate is volatile? That's the nature of digital currency and most people profit from that volatility. Apart from that, of course, the money that I will still hold is a cryptocurrency that I know will give me a profit for the next 2 years.

[Mauser]

Holding some cash in different currencies for emergencies is a good idea. The question is what kind of emergency you prepare for. Holding Norwegian Krone or Japanese Yen might be hard to use if the financial system collapses. I am wondering which merchant on a different continent would really accept these currencies. They are only useful if people can rely on banks to convert them. For me the main emergency cash at home is in Euros as it's legal tender in my country. If there is some problem with electronic payments I can always rely on cash. The second largest cash at home is in US Dollars, I use this for emergencies and for travelling. The dollar is the best currency if you want to exchange it for a local currency in small foreign countries. I also thought about holding Swiss francs at home but decided against it. For me it made more sense to buy some silver and gold coins which could always be exchanged again.

[Leviathan.007]

I guess the answer to this question is different and depends on where people live, for some people they prefer to hold some cash in the case of emergency and they usually hold their local fiat cash for example if I live in Japan I'll hold some Yen and the same for other countries, but in the other hand if you look in the other side of the story, holding USD or Euro can be more reasonable and that's what I do because even if I have to take a trip to another country I can spend money since most of the countries accept these two fiat currencies.

[Renampun]

...

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.

'Worry' is the most felt impact of the war, and I'm sure many people are preparing their savings...

I may not be from Europe but I also secure my future and family with little fiat savings, what I prepare is my local currency and Australian dollars. why I chose the Australian dollar, it's because I see they are very stable and it looks like Australia is not badly affected by the war (between Ukraine and Russia that is going on).

[D ltr]

even though it's not my local currency, I keep my assets in usd, because if it's exchanged into a currency I can give a profit of 1-2% if it's going up, but if it's still safe and under control I will still keep my assets into bitcoin not converting to fiat ,

[fullhdpixel]

That's what Bitcoin is for there to be an option where buying more during a downturn will store huge value in the future. But the fact is that when you hold fiat money, whether fiat is safe, even when inflation will still lose its value..

I don't think that's the main purpose on why btc is created but btc is actually the same as them (money) where it will be used for buying however it doesn't have an unlimited supply, which is why it can resist the effects of the inflation. It is not safe to hold fiat money even if we disregard the inflation due to its properties which can be easily seen by anyone else. They might be tempted to steal it or you can also lose it by mishandling. It can also be damaged easily when there are natural calamities but that all can be avoided in btc because it is digital.

Do you think inflation will not affect the currency you hold options?
When inflation hit and you still hold the fiat for storage of value? maybe you missed a lot about how the value store itself functions

Like the op said, I think it's not bad to have some fiats with us as they might come in handy.

[justdimin]

I guess the answer to this question is different and depends on where people live, for some people they prefer to hold some cash in the case of emergency and they usually hold their local fiat cash for example if I live in Japan I'll hold some Yen and the same for other countries, but in the other hand if you look in the other side of the story, holding USD or Euro can be more reasonable and that's what I do because even if I have to take a trip to another country I can spend money since most of the countries accept these two fiat currencies.

I would guess that the best thing to do right now would be holding fiat for spending, not for emergency and those are different things. If you live in Japan and have Yen that you need to spend everyday, that is your spending and that is not an emergency fund, it would be considered the same thing.

However, if you have Yen in the bank account and put it on savings etc etc for a "rainy day" then it would be different story because you still have Yen in that situation but you are not planning on spending that unless something bad happened. Which is why I highly suggest that you should have pure crypto for all your investments and emergency, but your spending could be whatever fiat you want.