People in Afghanistan Turning to Crypto in Time of Need


Bitcoin has provided a lifeline to people in Afghanistan as their country descends into financial ruin.

There has been a nationwide cash shortage and a currency facing destruction and for many that meant trying to find an alternative which quickly became cryptocurrency. We have seen this scenario unfold previously, when economies have faced similar decline and sudden political chaos.

Those turning to crypto were hoping to find some stability and a solution in their time of crisis. Crypto has been there to help.

There are several charity organizations dedicated to helping those refugees from Afghanistan as well who are also accepting cryptocurrency like bitcoin and others.

Since the Taliban takeover in the region it has been reported that bitcoin adoption with those in the country has also spiked in response.

Afghanistan is one of the top countries this year for crypto adoption.

With cash problems in the region and people without money they have had to turn to other means of getting by, and for their family members abroad who are trying to get money to them it has been extremely difficult. They are seeing rising prices and economic decline but crypto has offered those in the region a way to still be able to make those exchanges in the economy.

According to the UN they are practically now on the brink of universal poverty and people are getting desperate as they continue to struggle.

Some experts have suggested that they might be weeks to months away from economic collapse.

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