That might be true for people below the poverty line but for most people, even in the third world, they have enough money for basic necessities, food and shelter and even some left for investing in a small business to improve their lives.

I’ve been to Nigeria, Venezuela, Kenya, Tanzania and other poor countries and most people seem to be covering their basic needs alright. If this people have access to bitcoin they can keep and spend a currency that does not devalue, inflate or it’s confiscated by the government.

Besides, many of this countries receive billions in remittances and with crypto this process will be faster , cheaper and more secure.

Charity is another issue. Some of the money sent through charities get lost in the way due to corrupt officials. This could be easily avoided with BTC. You can send $100 to a phone’s wallet directly and they’ll get 99.99% of it. Also keep in mind these people are often unbanked but most of them have a phone. With bitcoin, you are you own bank.

These are the reasons why Bitcoin became legal tender in El Salvador and also it’s widely used in Venezuela and Nigeria.

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Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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Alberto Guerrero

Alberto Guerrero

Author of ´Bitcoin For Mere Mortals´ available @Amazon. Subscribe and drop me a line and I’ll send you a copy for free, no strings attached.

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