Friday, 19 May 2017

Bitcoin as a means of monetary recovery in the world

Several countries have fallen into error on the part of their governments or their economic policies. Many are in the worst economic crisis worldwide, however to analyze the potential that could buy Bitcoins in India, we must analyze countries where the economy is on the ground, and start thinking: If this country is being helped to recover With Bitcoins, what could Bitcoin do for me in a country that does not have so many economic mishaps?

Bitcoins in different countries

First we will talk about Venezuela. First of all, it is a country that is heavily regulated with dollars, its internet service does not reach more than 20mb / s and the economic-political situation has reached the point of forcing people to seek external forms of work paid in any other currency: 1 Bitcoin is equivalent to 60 Venezuelan salaries. Faced with such inflation and control by the government, Venezuelans have sought a currency other than the Bolivar with which they make their transactions, and since the dollar is regulated by banks and government, they can only do one thing: They have taken refuge in The Bitcoin as a means of subsistence. The mining and the use of this type of currency in business has become imperative to be able to continue living in this country.

Then we can talk about Zimbabwe. This country has had continuous political upheavals which has led to an undervaluation of its currency. At that point they began to adopt the dollar as official currency. Before this dollarization, and the unequal of transactions with respect to the salary, again the citizens sought to focus on a more stable currency, and although the country has poor access to the internet, intelligent people with access to it have decided to invest in Bitcoins , A perfect way to cope with the different economic policies of the government.

Finally we have Turkey, where the Turkish Lira has lowered price against the dollar in an economy that is steeply falling. Its citizens seeking stability have resorted to Bitcoin as well.

Now, if countries that are in catastrophe have turned to Bitcoin as a means of sustenance and stability, Imagine buying Bitcoins in India, Selling Bitcoins in India which is one of the countries with the best exchange rates. It's a ticket to being a millionaire.

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