In countries with failing economic systems, is common to find weak national currencies whose value has been significantly depreciated. This “weakness” may include a high rate of inflation, deficits, exaggerated level of imports, and everything that comes with a poor socio-economical situation for a country. Statistics show that citizens of countries with failing currencies in every part of the globe are turning to crypto for investment and wealth protection as they want to diversify from their home fiat currency. As they face financial crisis, they’re constantly searching for a better store of value.
While consumers access to cryptocurrencies is broadening rapidly, so is the market for crypto projects.
Do you think crypto is a viable solution for these complicated countries... or it may make it worse long-term?
You have to be very careful to say something like, "Statistics show that..." You have to back it up with actual evidence or you sound like you don't know what you are talking about.
So what statistics? What studies have shown that people are turning to crypto due to a "failing" currency? What countries specifically?
To me, this sounds like you just thought of something and are pretending it's a fact.
This is dangerous speculation and this is the exact type of thinking that makes crypto so volatile.
This volatility is causing the crypto bubble to stretch and eventually pop.
I'm pointing this out because I want a future where blockchain technology is viable and mainstreamed. Making informed decisions and choices is way more effective than just simple guessing or making assumptions.
