Digital Coin Exchanges Provide Financial Services to Developing Countries

Published in

The Halo Platform

3 min readOct 7, 2018

Many of us in the first world struggle to even comprehend the difficulties associated with living and doing business in a place where traditional financial services are not available. However, this is an issue affecting 2 billion people around the world. Cryptocurrency markets, and digital currency exchange sites that support mobile access in particular, are bringing financial products and services to parts of the world where they are badly needed.

Halo Platform recognizes that the blockchain and cryptocurrency revolution is a grass-roots movement designed to benefit the people. That’s why we’re launching HaloDEX — a trustless decentralized digital currency exchange site that allows people buy, sell, and trade cryptocurrency from anywhere. HaloDEX represents a critical next-step in the development of the most versatile and user-friendly cryptocurrency platform on the web.

Cryptocurrency Markets Serve Developing Countries

Currently, many citizens of developing nations are unbanked — that is, they do not have access to bank accounts. Without a bank account, these individuals are limited in their ability to interact with the financial market. This prevents them from performing important financial activities that most of us take for granted, like investing money, applying for loans, and even buying homes and property. Access to digital currency exchanges changes is dynamic because it allows businesses in developing countries to utilize more widely-accepted currencies, such as the U.S. dollar and the increasingly mainstream cryptocurrencies. This benefits both a country’s entrepreneurs, as well as its larger population of unbanked citizens.

With cryptocurrency markets, an individual does not need access to a bank. Rather, he or she can access digital currencies using only a computer or smartphone. Top digital coin exchange sites have started to develop applications to make their services available in developing countries. These efforts offer greater financial services to businesses and entrepreneurs in areas that have traditionally lacked such capabilities. This exciting evolution in the cryptocurrency markets also enables entire populations of individuals to perform financial transactions even though they don’t have access to a traditional bank account. This means that people around the world now have the ability to enter the global market, despite the fact that they live in areas with extremely limited financial infrastructure.

Cryptocurrency Exchange Sites Gain Popularity in Developing Countries

Cryptocurrency exchange sites enable businesses and entrepreneurs in Africa, South America, and Asia to achieve greater financial fluidity and perform transactions between those countries and Europe, the United States, and growing markets like China and India. By facilitating trade between these countries, business people and entrepreneurs from developing countries are able to enter into global markets that were previously inaccessible. That’s because cryptocurrency markets eliminate reliance on traditional banking services, but that’s not their only benefit. Some exchange sites also allow people to save on conversion and transfer fees when trading between fiat and digital currencies.

In just a few clicks of a mouse or taps on a smartphone, entrepreneurs around the world can perform critical financial transactions and provide needed business services. This allows for much-needed stimulation of economic activity in places that have thus far seen only limited opportunities for business development. By relying on easy-to-use and low-fee digital currency exchange sites like HaloDEX, entrepreneurs in developing nations can use cryptocurrency to participate in the global economy. This benefits not only the digital currency community, but also the billions of unbanked citizens around the world.