Blinda tu economía con la minería digital y las criptomonedas: El libro que te enseña cómo proteger e incrementar tus ahorros en tiempos de crisis (Spanish Edition)
Blinda tu econom: How to protect your finances from devaluation and inflation
If you are living in a country that is facing economic instability, currency devaluation and high inflation, you may be wondering how to protect your finances and maintain your purchasing power. You may have heard of a term called "Blinda tu econom" or "Blind your economy" that suggests some strategies to achieve this goal. But what does it mean exactly and how can you apply it in practice? In this article, we will explain the meaning and origin of Blinda tu econom, the benefits and challenges of following this approach, and some practical tips on how to Blinda tu econom effectively.
Blinda tu econom
What is Blinda tu econom?
The meaning and origin of the term
Blinda tu econom is a Spanish term that literally means "Blind your economy". It was coined by Annette Messier, a Mexican entrepreneur and author of the book "Blinda tu economía de la devaluación y los gasolinazos: Como proteger e incrementar tus ahorros con la minería digital y las criptomonedas" (Blind your economy from devaluation and gas price hikes: How to protect and increase your savings with digital mining and cryptocurrencies).
The term refers to the idea of shielding your personal finances from the negative effects of external factors, such as currency devaluation, inflation, economic crises, political instability, etc. By blinding your economy, you are creating a financial buffer that allows you to preserve your wealth and avoid losing money due to factors beyond your control.
The benefits and challenges of Blinda tu econom
Blinding your economy can have many benefits for your financial well-being. Some of them are:
You can protect your savings from losing value due to inflation and currency fluctuations.
You can increase your income by generating passive income from different sources.
You can reduce your dependence on a single source of income or a single market.
You can achieve financial freedom and security by having more control over your money.
You can take advantage of new opportunities and technologies that offer higher returns and lower risks.
However, blinding your economy also comes with some challenges that you need to be aware of. Some of them are:
You need to have financial literacy and education to understand how different financial instruments work and how to use them wisely.
You need to have access to reliable information and sources to make informed decisions and avoid scams or frauds.
You need to have discipline and patience to stick to your financial plan and goals.
You need to have flexibility and adaptability to cope with changing market conditions and regulations.
You need to have a diversified portfolio that balances risk and reward according to your profile and preferences.
How to Blinda tu econom in practice?
Diversify your income sources
Create multiple streams of income
One of the best ways to blind your economy is to create multiple streams of income that are independent from each other. This way, you can reduce the risk of losing all your income if one source fails or declines. You can also increase your income by tapping into different markets and niches that offer more demand or higher margins.
Some examples of income streams that you can create are:
A salary or wage from a full-time or part-time job.
A business or freelance service that you own or provide.
A passive income from investments, royalties, dividends, interest, etc.
A side hustle or hobby that you monetize online or offline.
A social media or content creation platform that you monetize through ads, sponsors, donations, etc.
Invest in different assets and markets
Another way to diversify your income sources is to invest in different assets and markets that offer different levels of risk, return, liquidity, volatility, etc. By investing in a variety of assets and markets, you can spread your risk across different sectors and regions. You can also take advantage of market movements and trends that offer higher returns or lower costs.
Some examples of assets and markets that you can invest in are:
Stocks: Shares of companies that trade on public exchanges.
Bonds: Debt instruments issued by governments or corporations that pay interest.
Funds: Pooled investments that invest in a basket of assets such as stocks, bonds, commodities, etc.
Real estate: Physical properties such as land, buildings, houses, etc.
Commodities: Raw materials such as gold, oil, wheat, etc.
Currencies: Money issued by countries that can be exchanged for other currencies.
Save and invest in digital currencies
What are digital currencies and how do they work?
Digital currencies are a type of money that exist only in electronic form. They are not issued or controlled by any central authority or intermediary. They are based on cryptography, which is the science of encoding and decoding information. They use peer-to-peer networks, which are systems of computers that communicate directly with each other without intermediaries. They use blockchain technology, which is a system of records that store transactions in a distributed ledger that is transparent, immutable and verifiable.
Some examples of digital currencies are:
Bitcoin: The first and most popular digital currency that was created in 2009 by an anonymous person or group using the pseudonym Satoshi Nakamoto. It has a limited supply of 21 million coins that are generated through a process called mining. It uses a consensus mechanism called proof-of-work (PoW) that requires miners to solve complex mathematical problems to validate transactions and create new blocks.
Ethereum: The second-largest digital currency by market capitalization that was launched in 2015 by Vitalik Buterin. It is more than just a currency; it is also a platform that allows developers to create decentralized applications (DApps) using smart contracts. Smart contracts are self-executing agreements that run on the blockchain without intermediaries. Ethereum uses a consensus mechanism called proof-of-stake (PoS) that requires validators to stake their coins to secure the network.
Dogecoin: A digital currency that was created in 2013 as a joke based on the popular internet meme featuring a Shiba Inu dog. It has an unlimited supply of coins that are generated through mining using PoW. It has gained popularity among social media users who use it as a form of tipping or donation. It has also attracted attention from celebrities such as Elon Musk who have endorsed it publicly.
How to buy, store and use digital currencies safely?
If you want to save and invest in digital currencies, you need to know how to buy, store and use digital currencies safely, you need to know how to buy, store and use them properly. Here are some basic steps that you can follow:
Choose a reputable and secure platform or service to buy digital currencies. You can use an online exchange, a broker, a peer-to-peer platform, or an ATM. Make sure to do your research and compare the fees, features, security, and reputation of different options.
Choose a suitable and secure digital wallet to store your digital currencies. You can use a hot wallet or a cold wallet depending on your needs and preferences. Make sure to backup your wallet and keep your private keys safe. Do not share your private keys or passwords with anyone.
Use your digital currencies for various purposes such as saving, investing, spending, donating, etc. You can transfer your digital currencies to other wallets or platforms, exchange them for other currencies or goods and services, lend them or borrow them, stake them or mine them, etc. Make sure to follow the rules and regulations of the platforms and jurisdictions that you use.
Reduce your expenses and debt
Track and budget your spending habits
Another way to blind your economy is to reduce your expenses and debt as much as possible. This way, you can free up more money to save and invest in digital currencies or other assets. You can also avoid paying high interest rates and fees that eat up your income.
Some examples of how to track and budget your spending habits are:
Use a spreadsheet or an app to record your income and expenses on a daily, weekly, monthly, or yearly basis.
Categorize your expenses into fixed and variable, essential and non-essential, discretionary and non-discretionary.
Analyze your spending patterns and identify areas where you can cut costs or optimize your spending.
Set realistic and achievable goals for saving and investing a certain percentage of your income.
Review your progress regularly and adjust your budget accordingly.
Pay off high-interest debt and avoid new debt
Another example of how to reduce your expenses and debt is to pay off any high-interest debt that you have and avoid taking on new debt unless it is absolutely necessary. This way, you can save money on interest payments and fees that can accumulate over time. You can also improve your credit score and financial reputation.
Some examples of how to pay off high-interest debt and avoid new debt are:
List all your debts by interest rate, balance, minimum payment, due date, etc.
Prioritize paying off the debt with the highest interest rate first while making the minimum payments on the rest.
Use any extra income or savings to pay off more than the minimum amount on the highest interest debt.
Repeat the process until you pay off all your debts.
Avoid using credit cards or loans for unnecessary purchases or expenses.
Use cash or debit cards instead of credit cards whenever possible.
Build an emergency fund that can cover at least 3-6 months of living expenses in case of unexpected events.
Conclusion
Summary of the main points
In conclusion, Blinda tu econom is a term that means "Blind your economy" and refers to the idea of protecting your finances from devaluation and inflation by diversifying your income sources, saving and investing in digital currencies, and reducing your expenses and debt. By following this approach, you can achieve financial freedom and security in an uncertain economic environment.
Call to action and final tips
If you want to learn more about how to Blinda tu econom effectively, we recommend you to read the book "Blinda tu economía de la devaluación y los gasolinazos: Como proteger e incrementar tus ahorros con la minería digital y las criptomonedas" by Annette Messier. You can also visit her website www.blindatueconomia.com for more information and resources.
Here are some final tips that can help you Blinda tu econom successfully:
Educate yourself on financial literacy and digital currencies.
Do your research before buying or investing in any asset or platform.
Diversify your portfolio across different assets and markets.
Use secure platforms and wallets to buy, store and use digital currencies.
Track and budget your spending habits regularly.
Pay off high-interest debt as soon as possible.
Avoid unnecessary expenses and new debt.
Save and invest consistently according to your goals.
We hope this article has been helpful for you. Remember that Blinda tu econom is not only a term but also a mindset that can empower you to take control of your money and achieve financial well-being. Good luck!
Frequently Asked Questions
What does Blinda tu econom mean?
Blinda tu econom is a Spanish term that literally means "Blind your economy". It refers to the idea of protecting your finances from devaluation and inflation by diversifying your income sources, saving and investing in digital currencies, and reducing your expenses and debt.
Who coined the term Blinda tu econom?
The term was coined by Annette Messier, a Mexican entrepreneur and author of the book "Blinda tu economía de la devaluación y los gasolinazos: Como proteger e incrementar tus ahorros con la minería digital y las criptomonedas".
What are some benefits of Blinda tu econom?
Some benefits of Blinda tu econom are that you can protect your savings from losing value due to inflation and currency fluctuations, increase your income by generating passive income from different sources, reduce your dependence on a single source of income or a single market, achieve financial freedom and security by having more control over your money, and take advantage of new opportunities and technologies that offer higher returns and lower risks.
What are some challenges of Blinda tu econom?
Some challenges of Blinda tu econom are that you need to have financial literacy and education to understand how different financial instruments work and how to use them wisely, you need to have access to reliable information and sources to make informed decisions and avoid scams or frauds, you need to have discipline and patience to stick to your financial plan and goals, you need to have flexibility and adaptability to cope with changing market conditions and regulations, and you need to have a diversified portfolio that balances risk and reward according to your profile and preferences.
How can I Blinda tu econom effectively?
You can Blinda tu econom effectively by following some practical tips such as diversifying your income sources by creating multiple streams of income and investing in different assets and markets, saving and investing in digital currencies by choosing reputable and secure platforms and wallets and using them properly, reducing your expenses and debt by tracking and budgeting your spending habits and paying off high-interest debt as soon as possible.