inflation

Inflation; you must have heard by now that cryptocurrencies help guard against inflation and this has been one of the major selling points of crypto enthusiasts, today I would like us to take a look at what inflation actually is and how cryptocurrencies such as bitcoin help to guard against it. Inflation can be defined as a reduction in the purchasing power of a currency, ever wondered why something you bought cheaper a few years ago is suddenly more expensive currently, that is because of inflation, It is not all bad, inflation actually has its advantages but too much of it is bad for a currency and an economy, which is why most developed economies of the world try to control their inflation rate by reducing money in supply or increasing interest rates or by fiscal policy. However, in a situation where your money is stored in cryptocurrencies which actually tend to gain value over time, your money Is technically guarded against inflation, this is not investment advice however.