One of the most often heard comments about Bitcoin is how consumers and businesses want to protect themselves against the price volatility. While it is far easier for businesses to use a payment processor and convert funds to fiat currency on the fly, the story is quite different for regular consumers. Some companies offer Bitcoin “locks”, but the question is whether or not people should bother in the first place.
Preventing Volatility As A Consumer
When it comes to holding Bitcoin as a consumer, there is no direct need to protect against volatility. If the end user wants to protect their digital currency wealth from volatility, they would be better off converting the funds to fiat currency immediately. There are plenty of Bitcoin exchanges available. Furthermore, selling funds through a Bitcoin ATM is also possible.
Unfortunately for all Bitcoin consumers in the world, there is no proper service available that will protect funds from volatility. That is, unless the user wants to trust a third-party company to hold their funds for them, and guarantee a certain value at