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EnglishHow can Bitcoin Cash help people in Lebanon which saw their savings and salaries vanish?

With the economy collapsed the currency of Lebanon is worth depending on whom you ask and the official exchange rates are changing 3 times a day. How can crypto economy flourish and bring prosperity to people which they saw their basic salary drop from 450 to 60 dollars per month?

altruist 2 months ago
    Tags:
  • Crypto
  • Economy
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Ahmad Elnoby 2 months ago
They should put in place an integrated system that helps them use cryptocurrencies and urge people to create electronic wallets for them
Shane 2 months ago
if everyone there starts accepting crypto for trades than its possible for crypto to flourish there
AssFace 2 months ago
60$? you must be lucky, I'm lebanese btw, now days a Bitcoin worth like 32 thousand dollars, a dollar worth 20 thousands lebanese pounds. do the math, a bitcoin worth 640000000 LBP, so during this economic crisis it's impossible for us as lebanese to start trading with crypto
Ogundare Mathew 2 months ago
If they can be using it for invest it will help a lot
arka 2 months ago
As Lebanese community is familiar with cryptocurrencies ( ripple ) , BCH will be welcomed fairly. But familiarising BCH wallet in that region is gonna take a while so I think no economic formation will be seen overnight , if BCH is launched in Lebanon. But hopefully this will increase mobility of money and foreign transactions will be easier for Lebanese people. They will be able to make their own savings without any hassle and due to blockchain transactions will be safe and secure
serieee 2 months ago
if they start accepting crypto for trades then its possible for their loss saving can retrieve
Olismar 2 months ago
Adotar medidas mais efetivas de estabilizar o cambio nacional, as criptomoedas são um das opção mais estaveis.
KOUESSO PETCHA NELSON 2 months ago
cryto is essential because is worth is universl. That is if bitcoin is worth $32k in the united staes, it is the same in Lebanon.
So to deal with this issue, the government has its role to play and the people need to engage themselves in the crypto world.
Daniel 2 months ago
They should put in place an integrated system that helps them use cryptocurrencies and urge people to create electronic wallets for them
Corbin Taylor 2 months ago
They will be using blockchain transactions that is safe and secure and completely unrelated to the normal currency
ujeshj 2 months ago
If the country can prove it is rebuilding its fiscal infrastructure, it might be able to secure billions of dollars in financing from the International Monetary Fund (IMF). IMF backing would encourage further investment from the international community,

At the moment, the government’s plan is to cut its debt by about 62% and wipe out $44 billion in foreign exchange losses at the Lebanese central bank. This plan would include wiping out the reserve capital at the central bank, the reserve capital at private banks and a certain amount of deposits from the country’s wealthiest people.
alizekrian16 2 months ago
buyed in coinex
Erickson 2 months ago
if BCH is launched in Lebanon. But hopefully this will increase mobility of money and foreign transactions will be easier for Lebanese people.
Boris Zelechowski 2 months ago
They should follow El Salvador example, it might take time to be effective but I'm sure it will be a good thing for them.
ticatious 2 months ago
Bitcoin cash is a possible solution to an actual proble, Emerging economies adopting new technologies before more established ones is nothing new. Bitcoin cash can help lebanise, where a large proportion of the population is unbanked. Lebanon is a region long afflicted by wobbly currencies salaries and wages varnish exchange rates changing 3 times per day, and it there for fertile ground for Bitcoin Cash adoption as a major currency. lebanise can save their salaries and savings without losing value in the unstable currency and high inflation rates
Aleksandr 2 months ago
Я хочу сказать что ливанской валютой все будет хорошо и никакой кризис ей ни грозит
Emmanuel langat 2 months ago
By building the crypto basics among people and how the currency works perfectly in all regions and every economy.
Amine CH 1 month ago
vive Lebanon!!
MarkDGo 1 month ago
Cashless transactions is the way of the future. If the country can adapt it earlier, then they will be ahead of other countries in this aspect.
Linn30 1 month ago
Hi, The only reason or most valid reason is to fully legalize bitcoin transactions in all areas of the economy, this can lead to;
A Beneficial Rise in Economic Activities
Increased Transparency of Transactions
Low Transaction Costs
💯
suresh 1 month ago
Cryptocurrencies and Bitcoin in particular have a highly utilitarian, yet also disrupting quality that has slowly, but steadily started to interfere with the way the traditional financial system works.
1. A Beneficial Rise in Economic Activities
2. Great Opportunities for Poorly Banked Countries
3. Low Transaction Costs
4. Increased Transparency of Transactions
5. More Power to Entrepreneurs
It will only be a matter of time until these cryptocurrencies definitively find a way into our lives, shaping them for the better, with economic growth and inclusion in mind. Millions of people will now have the opportunity to invest, send money across borders, save money and start a business thanks to the amazing possibilities that cryptocurrencies bring to the table.
suresh 1 month ago
MY bch adderess :- bitcoincash:qp8vk2trcsu9knjt6mt6ymqyatfuhufeqq6f9xyjrd
Beezy🐐 1 month ago
Cryptocurrency-backed savings accounts promise extremely high annual percentage yields (APYs) compared with traditional savings accounts—with some offering APYs upwards of 10%. And while that's certainly a tempting rate of return, there are some risks to keep in mind. For starters, cryptocurrency-backed savings accounts aren't government insured like traditional savings accounts, so they don't provide account holders the safety they may be used to
Jsuarge 1 month ago
they should look for a means of investing or mine bch and can save it in good wallet, so that they can always fall back to withdraw there money when necessary

BCH adress =I qpvgy2zy5ykmn40hx80479r5rly4ctwphyw7rxmya2
Dr.Q 4 weeks ago
Understanding what is needed from the transaction and what's the purpose would help, would recommend to stake it and make it safe with a percentage of wins with a posibilidad of withdrawing.
Angam 3 weeks ago
They should be encouraged Crypto currencies could provide a significant benefit by overcoming the lack of social trust and by increasing the access to financial services (Nakamoto, 2008) as they can be considered as a medium to support the growth process in developing countries by increasing financial inclusion, providing a better traceability ......
Saba 3 weeks ago
As Lebanese community is familiar with cryptocurrencies ( ripple ) , BCH will be welcomed fairly. But familiarising BCH wallet in that region is gonna take a while so I think no economic formation will be seen overnight , if BCH is launched in Lebanon. But hopefully this will increase mobility of money and foreign transactions will be easier for Lebanese people. They will be able to make their own savings without any hassle and due to blockchain transactions will be safe and secure
Adedamola Adeyemi 2 weeks ago
Bitcoin cash can help in such a way that, it has high-level security due to its Blockchain technology which is very difficult to tamper with or hack. Also, the only way you can lose your bitcoin cash is if you are careless with your private key, lose your coins through trading or panic selling.
In a long run, the value of your bitcoin cash will multiply if you are patient enough.
mega mind 1 week ago
because your economic get weak, the crypto has more value on your country, so you can invest on it