People in Nigeria and similar countries are focused on the income, so we end up selling chunks of our bag. Also, factors like high unemployment and similar issues means that people actually don't have a choice but to sell off their crypto in these areas.
SInce crypto is largely pegged against the dollar, earning in lower end countries ensures that crypto affords us a decet lifestyle.
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You know I find the whole dynamic between rich and poor countries via crypto fascinating.
my gut feeling is that it's an overwhelming source of good for people in countries with a cheaper dollar cost of living.
Oh that article I linked has strong evidence against the 'Nigerian crypto scammer' stereotype - far more is extracted via scams originating in the USA.
Yeah.It's just the way the media hype things. Scammers exist everywhere in the world, however whenever it's a Nigerian involved, it gets blown up because it sells papers.
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