Staff are paid in virtual currency in ‘crypto village’, and hope earnings will help them save for a house. In contrast to the rest of us, who are likely to spend our money on “frivolous” products. During the January sales, these villagers are more likely to put their money. Into virtual savings accounts online instead.
Around 60 people in Winchmore Hill, Amersham, are putting their money into cryptocurrencies. Hoping to make a modest fortune out of their investments.
Peter Gilbert, 46, the owner of The Potters Arms pub, has urged many of his customers to invest in Koda. Which he feels will help both young and elderly people become wealthy in the future.
He was drawn to Koda because of the prospect for “high-interest rates,”. Which he believes will be superior to the “crappy bank accounts. That offer up to four percent – if you’re lucky,” which he describes as “crappy.”
Peter has been delivering ‘gifts’ in cryptocurrencies to everyone of his 25 to 30 members of staff. As a thank you for their hard work, to encourage them to stay, . And to provide a “nest egg” for the future for the younger members of his team. As a reward for their efforts.
He claims to have made “tens of thousands” of dollars. With the online currency and is firm in his belief that “crypto is the future.”
However, there is always a risk associated with any investment.
According to a statement provided to The Sun, the Financial Conduct Authority (FCA). “Frequently warns” individuals against “investing in crypto assets.”
Peter, on the other hand, is sure that the value of Koda will continue to climb. Because he claims to be in “extremely excellent form” when it comes to investing.
How crypto works
Coins of cryptocurrency are virtual currencies that operate on the basis of the ‘blockchain,’. Which is a distributed ledger that keeps transactions and information about the coin.
There is no requirement for users to use their real names or go via a bank. In order to make payments or store money using this service.
The value of a cryptocurrency is determined by supply and demand. Which is determined by how many coins are being created, referred to as mining. Or how many owners wish to sell their coins.
An asset’s value increases in direct proportion to how valuable it is perceived to be. The more users and transactions that take place with it. Other variables, such as the acceptance of cryptocurrency by businesses. Can also enhance the value of bitcoin.
Bitcoin, Ethereum, Binance Coin, and Dodgecoin are some of the major participants. Yet even the valuations of their respective currencies have shifted over time.
In May, when Koda was first introduced, the currency was valued $0.0000730, and last week. It was worth $0.00089977, according to the cryptocurrency tracking website CoinGecko.
As with all cryptocurrencies, the value fluctuates from day to day, but at its high. It was worth $0.00223939, representing a 2,967 percent rise in valu. From its initial value of $0.001.
An online currency expo in Dubai, attended by online currency specialists and investors. Recognized Koda as the Most Trusted Cryptocurrency in 2021 in October.
Crypto is vital for hospitality
Peter claims bitcoin rewards have helped keep personnel in the hospitality business. Which has been hit hard by the pandemic.
“I want my people to feel valued, and they are. But we don’t have much money,” he said.
“I give them this reward every month if the bar does well. And they don’t take a day off.
No one wants to take the day off today. Even if they went out the night before. They are excited to come in and it seems to be working.
Currently, Peter ‘gifts’ his head chef £100, full-time staff £50, and part-time personnel £25.
He concedes they are little amounts now. But believes staff are will be worth much more in the future.