Your smartphone and a cashback app are the perfect pair. And our upcoming cashback and rewards platform is giving Myanmar’s residents a bit of protection against what’s to come.
You’ve undoubtedly heard, “what goes up must come down.” The phrase is on display every day over at CoinMarketCap. The cyclical ebbs and flows of crypto assets are quick, healthy, and even expected. Although it’s over a much longer timeframe, global markets follow a similar pattern.
Global markets have seen their fair share of green candles. But there’s a consensus among financial experts that we’re heading into a downtrend. Of course, nobody can pinpoint a time or place. And who knows if the fallout ever makes its way to Myanmar. We hope not. But our take on the situation is to choose safety over sorrow.
Not only is there a demand in the market right now, but a global recession only strengthens the use case for our upcoming cashback app. Let’s go over a few reasons why.
Nothing brings out a spreadsheet quite like a disruption to income. The financially prudent follow a budget — and any significant categorical changes call for reworking one’s monetary ecosystem.
The minimum salary in Myanmar is the equivalent of roughly $3.60 USD per day. App users earning at least the same figure every month create a win-win scenario.
With the help of a user-friendly app, ‘cashback’ is a new line-item within personal and family budgets. Our goal is to endow our members with the ability to count on regular payouts from using the app.
As cashflow nears all-time lows, one tends to analyze expenditures. When times are good, those daily doses of mint-mocha Frappuccino are 100% justified. But as tough times come along, one may search for an alternate caffeinated buzz.
Recessions can help form conscientious spending habits. Using a cashback app is like having a menu from which to select. Choose your category — food, entertainment, merchandise — then plan accordingly.
And when you’re awarded cash in return for everyday purchases, that morning pick-me-up is all the sweeter. Or bitter, depending on how you prefer your coffee.
Keep Doing What You’re Doing
Now, this aspect is part of what makes our cashback app so appealing — recession or not. There are things that, for some, it’s hard to live without. And when decision time comes, it’s easy to kick competing items to the curb.
You might skip lunch altogether so that you can keep sipping those pricey breakfast drinks. Or maybe forgo the java in exchange for an oversized mid-day snack. Or, you may choose not to make any changes whatsoever. And that’s the point here.
Buy what you’d buy anyhow, and still earn cash plus reward points.
Products and services serving up bonuses for things you already enjoy is icing on the proverbial cake.
In the crypto markets, well-funded ‘whales’ manipulate prices by merely buying or selling enough volume of any given digital asset. And in the arena of the fiat-printing central banks, the same games are at play.
Negative interest rates — a situation in which financial institutions pay interest for the privilege of central banks making money on deposits — is but one indication. You can feel it in the vibe of mainstream finance — something big is brewing. And, whether or not you agree with the questionable antics of its orange-tinted president, the U.S. dollar acts as the global standard of value measurement.
Problem is, the privately-owned misnomer they call the “Federal” reserve is printing fresh greenbacks as they see fit. Add in the insurmountable, exponentially-expanding mountain of debt carried by U.S. governments and corporations, and you’ve got a recipe for disaster.
We can also look to experts for guidance. Unless nearly every law, rule, pundit, and historical example in the history of finance are wrong, a global downturn is a matter of when rather than if. Nature operates in cycles, and financial markets are no different. When the next recession occurs, there’s still good news: we know it will eventually pass.
And while you’re hunkered down waiting for the storm to subside, our cashback app may provide a piece of modest shelter.