Savings I bonds can be purchased from the federal government as a low-risk savings product. Essentially, individuals can purchase bonds where they would have to leave the funds for a year before being able to withdrawal their funds without penalty; note that withdrawing before five years requires the individual to forfeit interest gained in the last three months.
<aside> 💡 Savings I bonds are a method of securing interest for funds deposited for at least a year
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Current rate for Savings I bonds is 9.62% (as of July 2022).
Savings I bonds are exempt from state tax, and generally only interest is taxable federally.
Each calendar year, individuals can purchase up to $10,000 in Savings I bonds with their own money, as well as an addition $5,000 using their tax refund.
Bonds can be purchased from the TreasuryDirect government website: https://www.treasurydirect.gov/
Note that the website UI looks like it has not been updated in over 20 years, but be rest assured that the website is legitimate.
Crypto has been advertised by many influencers/analysts to be an inflationary hedge. Although some believe that certain coins/tokens have promising technology and futures, be aware that lately (as of 2022), crypto seems to have followed stock market trends quite closely.
<aside> ⚠️ Be cautious about using cryptocurrency as an inflationary hedge, as it has not performed well during the rise of inflation in 2022
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As of July 2022, crypto seems to have entered a “crypto winter”.
Series I Savings Bonds https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm