How do cryptocurrency increase the standard of living

[Blitzboy]

Cryptocurrencies promise financial transformation. How does this improve life, especially for the uneducated?

First, I think education is crucial. Unlike traditional banking platforms, cryptocurrencies offer no gatekeeping. Imagine a world where financial services are not limited by territory or banking. Here, even uneducated people can participate in the global economy. Peer-to-peer, microloan, and remittance transactions grow cheaper.

One problem: the knowledge gap. The benefits of cryptocurrency can easily become a curse without sufficient understanding. Thus, the actual difficulty is democratizing technical expertise, not technology itself. Simple, accessible instructional tools are essential.

[dunfida]

Cryptocurrencies promise financial transformation. How does this improve life, especially for the uneducated?

First, I think education is crucial. Unlike traditional banking platforms, cryptocurrencies offer no gatekeeping. Imagine a world where financial services are not limited by territory or banking. Here, even uneducated people can participate in the global economy. Peer-to-peer, microloan, and remittance transactions grow cheaper.

One problem: the knowledge gap. The benefits of cryptocurrency can easily become a curse without sufficient understanding. Thus, the actual difficulty is democratizing technical expertise, not technology itself. Simple, accessible instructional tools are essential.

Knowledge gap indeed and this is where as an uneducated person would really be needing to do extra steps for you to at least to fill up that gap and would really be able to make yourself having those steps on which
you do know that it is something that could really benefit you out on longer runs. People would really be just that missing out on doing so just because neither they are lazy or they do find it to be impossible. For those people who do able to progress out their lives are the ones into those who had done their very best on working their way for that success.It would be a bumpy and never easy ride into your life which challenges or errors
is something that you would be mainly be able to face up.

You wont really be needing to raise or level up your living specially if you are just starting to make profits. Make it sure that you would really be making yourself that sustainable.
Do your very best on trying out to expand as much as possible, diversify as much as you could on which reaching out into a point that you wont really be having more
problems in speaking about financial condition.

[Natsuu]

Cryptocurrency can make life better by giving everyone access to money stuff even if they don't have regular banks because it lets people in remote areas be in charge of their cash without relying on big banks. Also, with DeFi, you can do more money things like borrowing or earning interest without needing a traditional bank. This can open up opportunities and make life a bit easier for everyone

[Hamza2424]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Well, buddy cryptocurrency is another form of electronic/digital currency that can be considered more secure sometimes more efficient, easy to access but considering all these facts we cant say that it will increase the standard of living in any form. All it can do is to bring more decentralization, transparency and convenience that's it.

To increase the standard of living we need to consider technologies like metaverse, AI these can help in rasing the standard of living when they gets connected with the IOT and our daily gadets. Bitcoin is also a good evolution in the payment mode that's it to have the wider evolution we need to consider other technologies based on the blockchain like as I said metaverse and NFT's on some level these tokens can be user in the product authentication that it. (Hehe I don't support ordinals on the Bitcoin network)

[lunawolfe]

Cryptocurrency can potentially increase the standard of living in several ways, with one avenue being through Crypto Bank Development. These banks can facilitate financial inclusion by providing services to unbanked populations, offering them access to savings, loans, and investment opportunities previously unavailable. Additionally, cryptocurrencies can empower individuals in regions with unstable or hyperinflationary fiat currencies by offering a more stable store of value. Through decentralized finance (DeFi) platforms, people can earn interest on their cryptocurrency holdings or borrow funds without the need for traditional banking intermediaries, thereby expanding financial options. Moreover, the use of cryptocurrencies can reduce transaction costs and processing times for remittances and cross-border payments, particularly benefiting individuals in developing countries. By fostering financial innovation and inclusivity, Crypto Bank Development and the broader adoption of cryptocurrencies have the potential to uplift standards of living worldwide.

[kryptqnick]

Others have put it really well, saying that cryptos don't raise the standard of living on their own. If you make bad investment choices or lose access to your crypto holdings, you might actually get to a worse position than the one you initially had. If you make good choices that pay-off, maybe you'll get a boost, and in extremely fortunate cases you might actually become significantly wealthier. If you don't lose a lot of funds and don't gain a lot of profit, you'll just stay roughly where you were, I suppose. But perhaps learning about cryptos will help you gain some new knowledge that can in turn be useful to improve the quality of life by better understanding certain financial processes, which is also significant.

[gabbie2010]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

One of the way cryptocurrency can improve the standard of living people you mentioned is taking the awareness very close to them, enlighten them about how investment in cryptocurrency can create some reasonable income if they invested in it at the appropriate time, they needed some reorientation to erase the mindset of some of them who think investment in cryptocurrency is a Ponzi scheme or a fraud because it's internet related of course I can't blame them for that due to their low level of their education though all these listed ways can very difficult to achieve due to trust that means the individual who is saddled with that responsibility must a well trusted person to the people 

[coolcoinz]

Let's say we ignore that bitcoin goes up in price and focus on other things. It increases your standard of living by being unconfiscatable. Nobody can take it from you unless you allow for it to happen, by giving up your private keys and wallet passwords. Nobody will know you own bitcoin unless you admit it or get clumsy and do KYC.

You can go wherever you like with your bitcoin. They won't take it from you at the airport or when you cross the border and you don't have to ask for permission to spend it.
Don't know about you but I call that a better safety and a better life

[btc78]

Bitcoin is not directly tied to the improvement of a country but rather focuses on personal and individual growth which might help improve the overall economic status of that particular country.

Cryptocurrency presents an opportunity to be used for the greater good. If someone manages to make good use of cryptocurrency, making wise decisions and investing, then they can now acquire some profit. This profit would still need to be held properly and managed accordingly. Life is full of choices in which one has to carefully decide on in order to succeed.

[uneng]

I would say cryptocurrencies can be an effective tool which allows you as a professional to have access to a wider jobs market which brings the whole world connected in a decentralized way. You can work from one corner of the world for an employer who is on the the another corner and still be paid in real time for your labor force without abusive fees and bureaucracy from regulators and governments who have influence over how centralized middlemen services such as Paypal work. Cryptocurrencies benefit both sides of a transaction (employer and employee) for a fair price.

Therefore, considering you have access to more jobs opportunities on the internet, while paying less taxes in the process of hiring or being hired, I consider crypto has potential to considerably raise someone's financial standards. However, cryptocurrencies solely are neutral tools, which don't have positive or negative impacts on your life automatically. It will always depend on how you are making use of them. You are the decisive factor for crypto to be a life changer, a life destroyer or no impact at all over your standard of living.

[Yamifoud]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Just be know that crypto does not solve poverty but it can make some rich. However, this will only happen if you are investing potential coins, not shitcoins. But if you don't have money to invest, this is also impossible which makes poor people hard to do it.

It is hard to accept but unfortunately, this is life, rich people become richer while poor people become poorer because of different mindsets and financial capabilities. Though we wanted to improve our living but if we don't have money, that is somewhat difficult and impossible. Therefore, if we want to have that standard of living, we have to know how to save money first and take the chance to invest using it rather than spending on useless stuff.

[Sanitough]

Hodling and trading can possibly create big changes in one’s life but this will not be possible without studying and learning the market first. However, even if you build your career in crypto, there is no guarantees that cryptocurrency will eventually change your life for the better. Some are just positive at first but eventually quit in the end since they can’t carry the pressure in the crypto market. But for those who were never shattered despite of the never ending losses and still  fix themselves, most likely they will be successful and increase their standard of living in the long run.

[livingfree]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

What is the connection of standard of living and people being uneducated to investing into Bitcoin/crypto?

But let's just say someone who's uneducated started to have interest in investing. It's likely that person might get scammed for having no idea of what he's doing. And from there, they will learn the basics of investing.

With that, the standard of living will increase into knowing about things and learning from experiences. Say that person have already learned and started to invest, that means that person will start to save some money for investment and that's going to give them the idea the importance of managing money very well and how money works for itself.

Maybe you find this article interesting:

The cruelty of crypto

Selling itself as the new American dream, crypto exposes the vulnerable to fraud and scams, and loads risk onto the poor

https://aeon.co/essays/the-cruelty-of-crypto-in-its-promise-to-revive-the-american-dream

Thanks, I'll take my time to read that later.

It's not that crypto only exposes the vulnerability to scams and frauds. In anything related to finance and money, they have been there. The risk is there but don't forget about how crypto is distributing the wealth of the rich.

I may have that assumption too quick when I haven't read that article yet. But that's what I think about crypto and people have been seeing the bad side of it but don't look at the bad side of fiat that has been there since ages.

[suzanne5223]

It's every individual who will her a standard of living not cryptocurrency and what crypto does is provide an opportunity to people while people's standard of living can change based on how utilize the opportunity presented by crypto.
A lot of people have joined the crypto space but ended up making losses and exiting the market due to their misunderstanding of the concept of crypto and lack of knowledge about how the market works.

[cr1776]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Protection from inflation, and looters, plus censorship resistance.  Those things help everyone who wants protection.

[yhiaali3]

It is difficult for cryptocurrency to raise the standard of living in areas without education or proper infrastructure for its use. I see this as very difficult, if not impossible.

Working in Bitcoin and cryptocurrencies requires knowledge and experience to deal with technology. This also requires the presence of an appropriate infrastructure such as electricity, the Internet, and communications necessary to deal with cryptocurrencies.

Many rural areas in many countries of the world do not have the Internet or communications, and some of them do not have electricity or computers, in addition to the low level of education, so I do not see how cryptocurrencies can work there.

[reagansimms]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

Your standard of living will increase "if" you invest in the right Cryptocurrency, Bitcoin can change your standard of living in the future if you do it from now on consistently. Even though Bitcoin is not like a wizard's magic wand that can turn stones into gold, with everything that has happened so far in the Bitcoin market, it can be concluded that Bitcoin can provide great hope if you are able to be patient in the midst of big waves. Bitcoin cannot provide instant profits for you, but if you invest consistently over the long term, your standard of living will increase after reaping profits many times over.

[0t3p0t]

Knowing fully well that there is so many uneducated people around the world, how can cryptocurrency increase the standard of living

It depends on how people interacts with crypto I mean their business, mindset, skills, strategy, profit and many other factors. Standard way of living is really hard to achieve if we put less efforts in everything we do in crypto.

[Alana Arden]

It is difficult for cryptocurrency to raise the standard of living in areas without education or proper infrastructure for its use. I see this as very difficult, if not impossible.

Working in Bitcoin and cryptocurrencies requires knowledge and experience to deal with technology. This also requires the presence of an appropriate infrastructure such as electricity, the Internet, and communications necessary to deal with cryptocurrencies.

Many rural areas in many countries of the world do not have the Internet or communications, and some of them do not have electricity or computers, in addition to the low level of education, so I do not see how cryptocurrencies can work there.

Without proper or adequate knowledge about technology, a person may face major problems in the future. It goes without saying that raising the standard of living is never possible without education. Working in the crypto sector, in particular, requires educated people who are more technically savvy. In this case, it is natural that those who are less educated and do not have proper knowledge about crypto or bitcoin will be left behind.
     But I believe that when crypto becomes widespread and technology develops, many things in our current world will change. This lack of understanding on their part can be easily addressed through enlightenment programs organized across the country. So it is not a complicated problem. Technology has and will continue to improve over time. Then they just need to spend some time learning about current technology and Bitcoin.

[m2017]

It doesn't necessarily increase the standard of living

Not necessarily, but maybe. Even a 1% chance to change your life for the better is already quite a lot.

It creates an opportunity to increase ones standard of living

Traditional financial instruments like securities, bonds and others also help improve living standards, isn't it?

And this is possible if one invest in projects with good potential and preferable relatively low risk(Bitcoin).

Project potential is not the key factor. I think it all depends on chance and luck.

Projects that are proven and stand on their own feet, like ethereum (if we talk about altcoins), are more likely to have a positive impact on improving living standards.

Cryptocurrency is not really the answer to eradicating world poverty but as an opportunity if rightly held can help reduce said proverty.

But only on an individual basis. Cryptocurrency will not lift everyone out of poverty.

I would say that most cryptocurrency (shitcoins) will make the poor poorer.

Not excluding that it has its own risk especially when dealing with shit coins.

Risk is always present to one degree or another. In the case of shitcoins, the risk is unreasonably high. Almost 100% (99,99%).