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Author Topic: The major role of cryptocurrency in promoting financial inclusion.  (Read 209 times)
Bazzu
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May 03, 2023, 03:37:32 AM
 #21

as i know bitcoin main role is to promote financial freedom.
so about this i think freedom for everyone whether they want to invest in btc or not.

and in my opinion the presence of btc does not mean to fight fiat currency but rather the presence of bitcoin
will help the economy for people who are interested in investing in btc. because in my opinion btc and fiat money cannot be separated because after all we can buy bitcoin using only fiat money.
and we invest in bitcoin with the aim of getting a lot of money.

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davis196
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May 03, 2023, 05:21:23 AM
 #22

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Cryptocurrencies are new compared to Fiat currency, and so is their market values volatile. However, their volatility comes with prospective good gains. Another benefit is cryptocurrencies can be use to reduce payment sorting costs, giving room for small businesses to retain in their possession more of what they get and significantly increase in the rate how fast they get paid. Crypto may serve as another effective possibility of choice or making asset equal to cash, this might be lower over time due to inflation. It can further aid stronger control over the capital of such enterprise to cope with the risks and opportunities of direct involvment in digital Business.

I don't understand some of the stuff you are trying to say, OP. Did you use Google Translate? Grin
Crypto prices are volatile not because cryptocurrencies are new, but because most cryptocurrencies are scarce.
You are coming up with the assumption that the crypto prices will keep going up forever. I don't know what will happen with the cryptocurrency world in the distant future and I'm not that optimistic.
I don't believe that adopting crypto payments would reduce the costs of the small businesses. At the end of the day, they will have to convert the crypto to fiat, which comes with it's own transaction fees.


alastantiger
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May 03, 2023, 04:37:43 PM
 #23

The prospect of financial freedom is what cryptocurrency promotes. And when you talk about future return, I want to remind you that not every single person involved in cryptocurrency can have the future return. It is for those who play by the rule and strategies and you have to be really patient. 
Cryptocurrency also promotes the use of digital currency in a free platform where there is no governmental restriction.

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JayTrain
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May 03, 2023, 05:02:08 PM
 #24

The most notable advantages for businesses in taking up Cryptocurrency is the high likely future returns. Cryptocurrencies are new compared to Fiat currency, and so is their market values volatile. However, their volatility comes with prospective good gains. Another benefit is cryptocurrencies can be use to reduce payment sorting costs, giving room for small businesses to retain in their possession more of what they get and significantly increase in the rate how fast they get paid. Crypto may serve as another effective possibility of choice or making asset equal to cash, this might be lower over time due to inflation. It can further aid stronger control over the capital of such enterprise to cope with the risks and opportunities of direct involvment in digital Business.

Let's discuss
I agree that there are potential benefits for businesses in adopting cryptocurrencies, particularly in terms of future returns and reducing payment sorting costs. However, it's important for businesses to also consider the risks and volatility associated with cryptocurrency markets. It's crucial to have a solid understanding of the technology and market dynamics before making any significant investments in cryptocurrencies.
Twentyonepaylots
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May 03, 2023, 10:33:36 PM
 #25

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Cryptocurrencies are new compared to Fiat currency, and so is their market values volatile. However, their volatility comes with prospective good gains. Another benefit is cryptocurrencies can be use to reduce payment sorting costs, giving room for small businesses to retain in their possession more of what they get and significantly increase in the rate how fast they get paid. Crypto may serve as another effective possibility of choice or making asset equal to cash, this might be lower over time due to inflation. It can further aid stronger control over the capital of such enterprise to cope with the risks and opportunities of direct involvment in digital Business.

I don't understand some of the stuff you are trying to say, OP. Did you use Google Translate? Grin
Crypto prices are volatile not because cryptocurrencies are new, but because most cryptocurrencies are scarce.
You are coming up with the assumption that the crypto prices will keep going up forever. I don't know what will happen with the cryptocurrency world in the distant future and I'm not that optimistic.
I don't believe that adopting crypto payments would reduce the costs of the small businesses. At the end of the day, they will have to convert the crypto to fiat, which comes with it's own transaction fees.



Same thoughts regarding the reduction of costs since I think the volatility of the crypto could be a factor on how the company's profit would be. The profit could be lower than expected when the crypto price also falls so there is this kind of hesitation for some to rely on this ending up for them to still use a more consistently valued payment which is through fiat money. This would make them convert their daily profit to fiat so that it can be a stable value but doing so requires fees so the cost would not that really be reduced. Also, to answer the OP's main question, I think one of the function of it is financial inclusion but it has a lot of things to offer since it can help you have financial security, easy transactions, and also as a form of investment to be financially sound in the future.
sunsilk
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May 03, 2023, 11:10:21 PM
 #26


While this is true that most cryptos are in there as an asset and investment but if it's about these businesses and merchants then the first thing that they can think of is another payment method that they can adopt without being tied up with any third party.

Most of these businesses do know what it's up being tied with them and that sucks them a lot of fees per transaction. So, the best advantage that they can have is if they're paid with bitcoin, the payment goes directly into them without the intervention of any bank or any third party payment processor.

And all they need to do is to receive it as the transaction fee will be paid by the sender.

Although return on investment is one of the advantages of bitcoin been used by businesses but the most important is the fact that it easier to transact with someone using a different currency without having to pass through the hurdles of the commercial banks. Also business owners have seen that bitcoin hedges against inflation so it is easier to have there funds stored as bitcoin to avoid inflation crises
ROI isn't an advantage but an evaluation that every business does for the meaning of ROI itself and it's not just only in bitcoin but in many businesses and even in investing.

But what you've said is right that they've seen that bitcoin is a good hedge against inflation and with all of these economic rumors about the potential global impact of a crisis that's about to come or it has already came. Thus, Bitcoin is the better choice.

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