How Cryptocurrency Helped Afghans in Times of Crisis

Afghanistan is currently going through one of the worst crises in its history. This happened after the Taliban returned to power in August and then officially led to the collapse of the Afghan government when the Taliban officially took control of Kabul.

Apart from the ongoing war, this has also caused their economy to collapse. This has led to the rest of the country struggling to live another day. With this, the country suffered from a financial crisis which hit them hard. It started with cash shortages which later led to the closure of banks and other financial institutions like Western Union and SWIFT. With this struggle, people learned to embrace the use of cryptocurrencies for their daily transactions.

The rise of crypto in Afghanistan

Crypto is starting to gain wide acceptance in several countries including Afghanistan. With this, several citizens have discovered that crypto is not just for investment and can also be used for gambling bitcoin casino online. Especially now that Afghans have learned to use this to their advantage, especially during the crisis.

In fact, it was in 2021 that Afghanistan was ranked among the top 20 crypto user countries in the world. Apart from its huge potential, what people like the most is that it does not stop people from sending and receiving money even when they are in a difficult situation. This became very important to them because bank withdrawals had been capped at small amounts.

Since crypto is still allowed in the country, Afghans have learned that they can use these digital assets to send money to friends and families who live in other countries. More importantly, they discovered that transactions are much faster and more efficient this way.

As a result, several donations are now made in the form of crypto so that people can better use it to meet their needs.

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How is crypto used in Afghanistan?

When they go out, people now make sure to take their smartphone with them so they can pay for their purchases. To make this work, some Afghans use virtual private networks (VPNs). With this, people can hide their location and change their IP address to make their transactions possible. Not only do they protect the confidentiality of their transactions, but also any information that could be used against them.

By following these steps, Afghans learned that they could exchange their crypto to fiat and vice versa. This way, they don’t have to use the traditional means of sending and receiving money for their day-to-day transactions, especially since there are limits when it comes to the amount that can be withdrawn from banks.

It is therefore by using crypto on a daily basis that Afghans learn more about its potential, which is much more than a method of payment on a bitcoin casino online. By investing in crypto and using it to transact, Afghans can still find a way to live a normal life, as the Taliban have not yet imposed restrictions on the use of crypto.

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