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RE: Ask Leo: Is Cryptocurrency Favourable To The Poor

in LeoFinancelast year

I see crypto as a great leveller. Most crypto earnings are the same wherever you are in the world.

If I earn 100 HIVE here in the UK, it's worth around £29 or $34, equivalent to about 1/4 of a day's average wages. But someone earning 100 HIVE in (say) Venezuela will have just earned most of an average month's salary, for about the same amount of work.

Hopefully, this could do a lot to add value into the economies of poorer countries and increase average wages. I appreciate this is a simplification, and there are a lot of other factors involved (e.g. different costs of living, tax levels etc), but I still see crypto as a way for people in poorer countries to improve their quality of life significantly.

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I still see crypto as a way for people in poorer countries to improve their quality of life significantly.

This however is a true fact because Crypto is already showcasing that good path in helping the poor to have means of survival which already is happening and people are already excited to have such means to change their financial status.