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Topic: Bitcoin on high demand Africa nigeria and Malaysia - page 2. (Read 333 times)

legendary
Activity: 2492
Merit: 1232
Because somehow for them, USD is still not good.
And most of people are afraid on USD because not unlike with Bitcoin, Bitcoin got only limited supply, which is 21 million.
The price of bitcoin in my country is relative with the USD equivalent of bitcoin. I think that in Africa the reason that it is popular is because it is more expensive to use their currency to buy necessities, and the equivalent of bitcoin in those countries are higher, if I am right, the price of bitcoin is relative to dollar in some African countries too.
I tend to agree with both of you.

Definitely those countries will not choose stablecoin over Bitcoin or other volatile cryptocurrencies since they are already aware of the decreasing purchasing power of their own fiat or with USD which is associated with the value of stablecoin.  If the value of fiat currency will continue to decrease because of inflation then there will be no reason for them to go with the stablecoin which will also experience a decrease in value for the same reason as to what could possibly happen to fiat.

Moreover, through Bitcoin's volatility which can provide possible gains, these countries see that they can cope up with the inflation or decrease in the value of fiat and could possibly salvage them from the slumping economy.
sr. member
Activity: 1624
Merit: 315
Leading Crypto Sports Betting & Casino Platform
Because somehow for them, USD is still not good.
And most of people are afraid on USD because not unlike with Bitcoin, Bitcoin got only limited supply, which is 21 million.
The price of bitcoin in my country is relative with the USD equivalent of bitcoin. I think that in Africa the reason that it is popular is because it is more expensive to use their currency to buy necessities, and the equivalent of bitcoin in those countries are higher, if I am right, the price of bitcoin is relative to dollar in some African countries too.
hero member
Activity: 2618
Merit: 548
DGbet.fun - Crypto Sportsbook
People have used to the stable fiat currencies and has lost hope due to the inflation. Once again they'll not go over a stablecoin. With bitcoin the growth reflects on the volume that we hold in our wallet. One who has experienced the growth will never go for the stablecoins for long term purposes. Understanding all the high Volatility with bitcoin, people have started to prioritise it. This is a new era where technology is given importance than the traditional things that are highly into corruption.
legendary
Activity: 2268
Merit: 1379
Fully Regulated Crypto Casino
So instead of Bitcoin  if their own currency not so good why they just dont buy  stable currency like USDT? AM  I MISSING HERE SOME POINT?
Not only to those countries you have mentioned but I think majority are into bitcoin. Traditional currency will always be a common and neutral ground for this. Why you settled for a stablecoin it will not increase value in due time. Yes you can stake it or lend it but the greatest gains will always be found on a good coin like bitcoin.

Also if you are gonna do trade would you direct buy bitcoin from fiat or from your debit card? This is often happen on Binance when buying coins. They wouldn't do stablecoin unless they are trader that used future contracts. Just noticed.
legendary
Activity: 2506
Merit: 1394
Because somehow for them, USD is still not good.
And most of people are afraid on USD because not unlike with Bitcoin, Bitcoin got only limited supply, which is 21 million.
If you will look on this chart, over the time, the total circulation is increasing over the time and purchasing power is decreasing.
member
Activity: 322
Merit: 14
So instead of Bitcoin  if their own currency not so good why they just dont buy  stable currency like USDT? AM  I MISSING HERE SOME POINT?
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