You mostly know cryptocurrencies for their impact on the financial world, but there’s more to learn about their social impact on communities and individuals. Their impact on philanthropic initiatives is quickly becoming noticed by individuals, communities, and governments of all levels in different regions. They boast borderless and decentralized features, offering a new path toward financial freedom and empowerment.
If you plan to explore the uses of cryptocurrencies, especially how they help empower communities and individuals, this is the right place. Below, we’ll look at four ways cryptocurrency empowers communities and individuals to help you get started with crypto correctly.
Improved Access to Financial Services
As a digital asset, cryptocurrency provides greater financial inclusion to individuals and communities disadvantaged by the lack of access to traditional financial systems. With superpowers like the U.S. still having 2.6% of an unbanked population, the situation could worsen in less developed countries with inferior banking systems. Registering cryptocurrency as a substitute solution is a great reprieve for many individuals and communities in these regions.
Users can send and receive crypto coins between family and friends in record time without worrying about huge transaction fees and delayed remittance. For example, you can now buy Bitcoin faster and add it to your wallet, where you can send it to your loved ones whenever and wherever you are. Organizations in these disadvantaged regions can equally receive generous donations through crypto donations for their sustenance.
Protection from Inflation and Economic Uncertainty
When inflation and other economic mishaps occur, traditional fiat currencies tend to lose their value, which disadvantages holders. However, with cryptocurrency, especially scarce ones, you can enjoy an alternative store of value not subject to inflationary pressure and government manipulation. This is a great way for individuals and businesses to protect their wealth and hedge against economic uncertainties.
Investment and Wealth Creation Opportunities
Cryptocurrencies have opened many opportunities for individuals and businesses looking to explore decentralized finance (DeFi) and innovative blockchain projects. Through these two main paths, individuals can now lend, stake, and tokenize assets to grow wealth and diversify their investment portfolio. The good thing about crypto investment opportunities is that you can explore its borderless features and interact with clients and businesses across the globe.
Since it also allows for satisfactory privacy when transacting, cryptocurrency can open your thinking about money, ushering you to an open gateway to endless investment options. Whether your interest is in crowdfunding, NFTs, or tokenization of assets, crypto offers numerous avenues to generate crypto tokens or income.
Philanthropy and Charity
The challenges of transparency in charity organizations are slowly becoming a thing of the past with the adoption of Bitcoin technology in philanthropy. Organizations and individuals can now track the flow of funds, ensuring that donations are used for their intended purpose. This way, donors can be confident that their funds are put to good use, thus building trust and opening doors for more future donations.
Thanks to crypto’s borderless acceptance, organizations can receive donations from anywhere in the world instantly and even anonymously. All the bureaucratic transaction processes associated with traditional fiat currency barely concern organizations already subscribing to crypto donations.
The use of cryptocurrency has had its fair share of benefits, especially in empowering individuals and communities. Regardless of the angle of opportunity you want to explore with your new-found crypto assets; you can always find something to smile about from these four options above. So, if you had doubts about the uses of crypto and its communal and individual benefits, now you have something to help you explore your options courageously.
