How does cryptocurrency impact the global economy?

[uptrendfinancialsignal]

Cryptocurrency has now become widely accepted as it gradually takes its position the world economy. It's used for buying goods across borders and it's also a good store of value. We all have to admit that cryptocurrency is revolutionizing it all.

How has such a change in cryptocurrency affected traditional currencies as well as financial structures?

 

[magnus2022]

Cryptocurrency is gradually entering financial mainstream. Crypto is making transaction stress free. Unlike before, it will takes days to transfer money from local bank to international business sites like forex, commodity market, gambling sites. Cryptocurrency have changed all that! Within minutes, your funds will be where you wany it to be. Cryptocurrency is gradually sidelining traditional currencies but it will be difficult to obliterate it.

 

[Kross]

Crypto has impact on the global economy being that it has helped with financial inclusion for anyone from any part of the world. With the crypto payment system, people can access jobs from any location and get paid for it. That implies that with crypto, global unemployment has been positively affected to some extent.

 

[Sociallover]

I think that cryptocurrency impacts the global economy in many different ways. When the federal reserve increases the interest rates, many people leave cryptocurrency and start investing in other assets. This can actually harm tier 3 country and increase inflation rate.