Cryptocurrency attracts attention as a path to financial freedom, but the question arises whether it delivers on its promises.
Financial Inclusion: A Chance for the Unbanked
Cryptocurrencies are seen as a modern equalizer, offering solutions for people without access to traditional banking systems. For instance, in Argentina, rising inflation has driven citizens to use Bitcoin for wealth preservation. This suggests that, in such countries, cryptocurrency becomes an essential financial tool.
Volatility and Risks: A Double-Edged Sword
The volatility of cryptocurrencies is one of the most debated topics. For example, Bitcoin's price fluctuated from $40,000 to $16,000 in 2022, questioning its use as a primary savings tool. So-called stablecoins are also at risk, as evidenced by the collapse of TerraUSD.
Regulatory Challenges: A Global Legal Minefield
The lack of unified legal frameworks creates uncertainty for users. Different countries, like China with its strict bans and El Salvador, which adopted Bitcoin as legal tender, illustrate global inconsistency. Such conditions hinder access to cryptocurrency markets and may facilitate fraud.
Cryptocurrency may offer opportunities for financial independence, but it requires patience, education, and realistic expectations. Access to financial freedom through cryptocurrency is possible but not guaranteed.
