Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduc...
The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies are used. Global Average Higher Than SDG Target According to the latest World Bank (WB) remittance data, Sub-Saharan Africa has once again emerged as the most expensive region to send funds to. With an average cost of 7.8% for every $200 sent, the region, which received $49 billion in remittances in....
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As central banks on the African continent fight to keep cryptocurrencies from going mainstream, many more migrant workers are increasingly turning to money-sending platforms that use cryptocurrencies when moving funds across borders. More Than Just an Investment Thus in addition to becoming a “hot investment for hedge funders and corporate moguls,” crypto-assets like bitcoin are now seen as “a cost-effective way to transfer money throughout the developing world.” Also adding to the growing popularity of cryptocurrencies, are lockdown measures imposed in many....
In urgent response to the increasing number of migrants in Europe, the Government of Denmark has announced a law that could allow the authorities to confiscate jewelry from refugees entering the country. According to the Washington Post, the proposal of the newly drafted law will pass Parliament in a matter of time. "The bill presented on 10 December 2015 provides the Danish authorities with the power to search clothes and luggage of asylum seekers - and other migrants without a permit to stay in Denmark - with a view to finding assets which may cover the expenses," the Danish Ministry of....
Crypto․com CEO Kris Marszalek has an issue with coinmarketcap.com’s exchange volume rankings, according to a tweet he published on December 25. Marszalek claimed in his tweet that the popular crypto aggregation website “arbitrarily reduced” the exchange’s ranking.
Crypto․com CEO Complains About Coinmarketcap․com’s Exchange Rankings
A recent tweet stemming from the CEO of Crypto.com’s Kris Marszalek indicates the exchange executive is upset with the web portal coinmarketcap.com. Marszalek claims that....
While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation. Crypto Utility Inspires Volatility Solutions For instance, to undocumented migrants, cryptocurrencies offer a faster and cheaper way of sending money to their loved ones. For users that reside in countries with unstable currencies, cryptos act as an alternative store of value. Cryptocurrencies also act as a shield in times of hyperinflation. In some places, small businesses....
Students are now turning to crypto to plug the financial gap that comes with schooling. It is no surprise that the cost of schooling has gone up tremendously over the years. Now more than ever, students are graduating with tens of thousands of dollars in student debt. But even the massive loans students have to […]