Word of the day | Store Of Value

Word of the day - Store of Value

WOTD | Store Of Value

Money is a medium of exchange, a unit of account, it is portable, durable, divisible, fungible (interchangeable) and has Store of Value.

“Store of value" refers to something that can be saved and preserved for future use without losing its worth or value. It could be an asset, currency, or an object that can be easily exchanged for goods or services. When something is considered a reliable store of value, it means that people trust it will retain its purchasing power over time. For example, precious metals like gold and silver have been used as stores of value throughout history because they can be saved and later exchanged for other things.

Knowing the difference between Currency (EUR, USD, GBP etc.) and Money is crucial. Do you know? Click here to find out.

https://www.dbm.academy/faq for more blockchain vocabulary.