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Cryptocurrency Adoption in Developing Countries: A Financial Lifeline in Times of Economic Instability
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Developing countries are where crypto will shine the most
Crypto is more helpful in underdeveloped, high inflation countries than in developed countries.
*if you have spare money to invest and you dont get rugpulled.
Honestly, crypto like banano and moons, bricks are top notch examples of decent implementation
Adoption will only really go fast if it would be as easy to purchase Toiletpaper and is as easy to use as Toiletpaper for every generation out there.
For those wondering why people from third world countries have a better risk appetite. 1 USD is worth 322 Zimbabwean dollars. That’s right, if your currency is that fucked even moons are worth far more currently.
Believers will still believe it. So just how you treat cryptocurrency is.
Looking at markets like Africa, the adoption is increasing ever faster!
Asia is making giant leaps as well.
Crypto finally is a way to put financial power back into the peoples hands!
It’s crazy that financial situations differ so extremely when looking at the global picture. Its amazing that crypto can help to balance this out to some extent.
When banks,governments and nations starts to embrace it with some regulations, fiat and crypto will coexist what will bring worldwide adoption
The currency conversion rate is the main motivation for crypto exposure in developing countries. It’s definitely a good thing though since it will drives adoption globally.
Geographical arbitrage is a big thing.
Just earning 700 MOONs per month is more than the average monthly wage in my third world shithole for example. Crypto is a genuine life changer for many.
But for a lot of people, cryptocurrency equals to scams, thanks to some ignorant and conservative media.
Seems bizarre, but I bet MOONS are already at the forefront of helping those under financial and government oppression.
Why must you make these El Salvador threads **every single day**?
Cryptocurrency is the future of money, but it’s also the future of jokes.
Of course the adoption will stay low because it’s a bear run right now.
All these Salvadorians will be FOMOing when the bull run starts. People who bought BTC and held will be considered some sort of savants.
That’s how every BTC cycle has been till now.
In developing and under developed countries crypto are used much more compare to developed countries and also there aren’t too much regulations or tax when it comes to crypto.
I also feel that there’s lack of thinking and change in bigger economies and the smaller economies are brought in a situation to change
I cannot imagine the kind of world news that will come out about El Salvador and their BTC adoption in the future when the next bull market arrives
Remindme! 16 months
When will it help me?
In Pakistan the currency has been in a free fall lately and it’s almost impossible to buy USD from the forex market/banks and people have now resorted to converting their Rupees to stablecoins via CEXs. I wouldn’t call it adoption but it does serve the purpose of securing your assets against inflation for the time being.
Depends on the country. El salvador has a corrupt top-down adoption that’s not doing so well, like most other corrupt top-down initiaves.. but many people in other countries use binance, crypto has real adoption in south america, things are happening
Even if not for investments sake, for preserving your current financial situations sake. A lot of developing countries are going through HYPER inflation, and don’t have access to foreign currency. Crypto will definitely aid in maintaining if not bettering our current lives