How does Bitcoin is helping hyperinflated countries

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Coinmonks

4 min readMay 21, 2022

Bitcoin to help people in Argentina and Venezuela

Bitcoin is a great hedge against inflation, government seizure and currency controls.

Inflation is a common problem for Argentinians and Venezuelans. The Argentinian peso has lost more than 60% of its value in the last year, as the country’s economy continues to struggle under heavy government debt and soaring inflation levels that are expected to reach more than 50% this year. In Venezuela, hyperinflation has reached such epic proportions that it now takes 200 bolivares — the country’s official currency — just to buy one dollar at black-market rates. Given these economic realities, bitcoin offers many benefits: it’s decentralized; it can be used anonymously; it doesn’t require permission from a central bank or government entity; transactions are instant; there are no limits on how much money you can send abroad (as long as your wallet allows).

Another advantage of using bitcoin over traditional financial institutions like banks is that you’ll have access to everything without giving out personal information such as credit card numbers or bank account details which could potentially put people at risk if their identities were stolen by hackers looking for ways around security protocols within those institutions themselves.”

Bitcoin as a hedge against inflation

You probably know that your money is losing value over time because of inflation. But do you know how fast? The value of a dollar has lost more than 95% since 1913, when the Federal Reserve was created.

Bitcoin has proven itself as a hedge against inflation in two important ways:

As an investment for your money to grow in value over time (as opposed to fiat currencies)
As a hedge against market volatility

Bitcoin to protect from cash seizure

In addition to being an alternative currency, Bitcoin can also be used as a safe haven against the seizure of cash. Since Bitcoin is digital, it cannot be seized by authorities if they suspect you of criminal activity and want to confiscate your assets. If you are transporting a large amount of money across borders, this may come in handy.

For example: say that you are traveling from one country to another with $10 million in cash hidden inside your luggage or vehicle (or even under your clothes). You have made sure no one knows where the money is stored on your person or elsewhere in the vehicle — but what happens if someone stops you at customs? They might ask for permission to search both parties involved and their belongings, which could include vehicles as well as humans. If they find out about the large sum of illegal funds hidden somewhere within those objects…

This can happen even when going through international airports with legal documents supporting what’s inside! That’s why using Bitcoin instead would provide safety from things like these seizures happening unexpectedly while traveling abroad (and even domestically).

Bitcoin for mobility

In addition to being a good way to send money to your friends, family and loved ones, bitcoin can also be used for more than just buying electronics. Here are some examples of how bitcoin has helped people become more mobile:

Buying plane tickets with Bitcoin is an easy way for international travelers to avoid high exchange rates and expensive processing fees when using credit cards. The ability to buy plane tickets with bitcoin also means that you won’t have any issues if your card gets stolen or lost while traveling abroad; you won’t be without access to money because it’s all stored on the blockchain instead!
If you’re looking into buying a car but don’t want interest payments sucking up all your cash each month, then consider buying one with Bitcoin instead. There are several websites like WeBuyCarsNow where users can list their vehicles for sale at attractive prices — and they’ll even accept payment via cryptocurrency like Bitcoin Cash (BCH).

We all love Bitcoin and must use it.

Everyone should use Bitcoin. Here’s why:

It’s a great way to protect your money from inflation and government seizure.
It’s a great way to send money to friends and family abroad, with lower fees than traditional remittance companies like Western Union and MoneyGram.
You can buy things online easily, without having to worry about chargebacks or fraud by accepting cryptocurrency payments for goods and services you sell on the internet or locally in person (at markets).
There are lots of opportunities for investing in Bitcoin-related startups who are building new products that will make our lives better; these investments earn you profits as well as helping society progress towards its fullest potential!

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