How bitcoin is important in the country

[Akinwale701]

it serves as a barrier remover between countries.... transactions of monetary value are made possible between countries that initially didn't support currency to currency transfer or use of PayPal for transactions. bitcoin makes it easy to convert and store ones wealth

Cryptocurrency improves developing countries by reducing corruption and promoting transparency, reducing transaction costs and time and offering greater financial inclusion and microfinancing.

 

[Chumzy]

I don't think that it is so important to talk about countries when you talk about coins. Crypto currencies are countries independent and don't have any ties. That is why government don't have control over them and thus dislike them.

 

[Alexandoy]

How can you reduce transaction cost by using Bitcoin? If I am a trader of rice that I deliver rice worth $1,000 every day and my customers pay me in cash, how can Bitcoin make me save money in the transaction cost? For your information, Bitcoin is a commodity. It is just like gold that you buy to sell later. So if you sell it then that is a transaction of Bitcoin and if you buy that is also a transaction. I cannot see the logic of saving on the transaction cost.

 

[Erik4150]

Cryptocurrency provides a valuable alternative to fiat currency. Especially in my country where the fiat currency is loosing value every year. It is also an asset. Most business owners have investments in cryptocurrency and crypto trading is very profitable too.

 

[Riniyke]

The world is fast evolving and countries and people are not trying to be left behind. cryptocurrency is fast changing the worlds economy and very soon it will be accepted all over the world and countries that has place a ban on cryptocurrency will later reverse it. so lets try and accept cryptocurrencies.

 

[Khizar iqbal]

I think when the phone started, people didn't have that much of a trend at the time and it wasn't a good currency as time went on or Hussein became a currency that would have a lot of value right now and And people started buying and selling it. This is the time that is most bought and sold online.

 

[Ralphjoe]

Bitcoin's important is tied down mostly to the ability of people to make money through it by investing in it and also trading on it. Then Bitcoin also facilitates international payments to some many people in the world. PayPal doesn't pay most people but Bitcoin has come in to help in that regards.

 

[ronaldlorenzo01]

Bitcoin is very important in our country because it is revenue. They have a high fees like coins.ph they earn so much with this crypto but the service the give is not that good. Hopefully they should improve their system. Review and revise based on the review of the customer.

 

[Felixko]

Bitcoin is very important to every country. this implies that bitcoin is several as a source business in the country. this really help many people to grow their capital without the awareness of others and also help people to stop depending on gov't or their working salary.

 

[Eodine]

Like seriously!!! You right! In A country where there is no employment opportunity and the government ate doing nothing to improve the livelihood of the unemployed, bitcoin and crypto currency as step in to fill it.

I tell you! This is what first came to mind when I thought about advantage of bitcoin, a lot of people are already making a living with crypto currency and forex which is one of the advantage government should consider as it helps reduce employment burden on them too.

 

[Kelly5]

I believe cryptocurrencies if fully adopted by governments, it will greatly reduce corruption because there will nothing to hide about it anymore as it will be open and easily traceable

 

[Setfragil]

Bitcoins is important in every country as it helps to facilitate the buying and selling of foreign trade. Bitcoins is important in an economy as it is a digital currency which is safe for keeping and holding than fiat currency.

 

[Patrik]

for me, the first importance is that a lot of people are using it as a money making method, which means, more working opportunities for the youth

 

[Josemendez]

For low tier country with weak Fiat currency , bitcoin will go a long way in strengthening their financial strength. However most government do not like bitcoin.

 

[Aaron625]

Its true but it actually depends on the country. In developing countries , sure crypto is gonna help that country in making it developed country. Whereas crypto can lead to more corruption and fraud in some other countries where technology is more advanced.

 

[Shigobad2020]

To the government of my country , the use of crypto currency coin do transaction and trading is a bad thing but to the people that knows the meaning and the importance of crypto currency, it means a lot to us.

Cryptocurrency improves developing countries by reducing corruption and promoting transparency, reducing transaction costs and time and offering greater financial inclusion and microfinancing.

 

[Chibson]

Some countries that have seen the positive aspects of Bitcoin and cryptocurrency is has adopted it as a legal tender while some that think it has a lot of negatives in their economy banned it.

 

[Kelly5]

Cryptocurrency improves developing countries by reducing corruption and promoting transparency, reducing transaction costs and time and offering greater financial inclusion and microfinancing.

If these politicians steals money or the government officials in offices steals money, they can be easily traceable and cought for stealing of public funds. That's one transparency about the cryptocurrencies I like

 

[Justin]

If bitcoin is legal in your country, you can invest in bitcon and earn profits from bitcoin investment and trading. Whe you make money, you ultimately help the national economy.

 

[Alexandoy]

Bitcoin is very important to every country. this implies that bitcoin is several as a source business in the country. this really help many people to grow their capital without the awareness of others and also help people to stop depending on gov't or their working salary.

Bitcoin is a commodity that I don't think it is "very important" in the country. A very important commodity for a country is something that is a necessity like oil which the country needs. In our country Bitcoin is not popular and I see that we have been doing good even without the Bitcoin.