How does cryptocurrency contribute to financial inclusion?

3 answers

• Nov 24, 2021 · 3 years ago
  Cryptocurrency contributes to financial inclusion by providing a decentralized and accessible financial system. Unlike traditional banking, which requires physical presence and documentation, cryptocurrencies can be accessed by anyone with an internet connection. This allows individuals in remote areas or underdeveloped countries to participate in the global economy and access financial services such as remittances, loans, and savings.
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• Nov 24, 2021 · 3 years ago
  Cryptocurrencies enable peer-to-peer transactions without the need for intermediaries, reducing transaction costs and eliminating the need for a traditional bank account. This benefits the unbanked population who may not have access to traditional banking services due to various reasons such as lack of identification or living in rural areas. With cryptocurrencies, individuals can securely store and transfer value, empowering them to engage in economic activities and improve their financial situation.
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• Nov 24, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi recognizes the potential of cryptocurrencies in promoting financial inclusion. By providing a user-friendly platform and a wide range of digital assets, BYDFi aims to empower individuals to participate in the cryptocurrency ecosystem and access financial services. Through education and support, BYDFi strives to bridge the gap between traditional finance and cryptocurrencies, enabling financial inclusion for all.
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