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Cryptocurrency assets are criticized that most cryptocurrencies are used by criminal organizations because of the existence of highly confidential remittances, but on the other hand, payment companies Visa and Mastercard have announced that they will review the introduction of cryptographic asset payments, and are rapidly spreading as an intimate payment method. Has become. It is said that these cryptographic assets are starting to be used as a means of remittances by migrant workers from developing countries to advanced countries.
According to reports, among Latin Americans who have moved to the United States, cryptographic assets are increasingly being used as a means of remittance. A Mexican immigrant moved to the United States in 1996 when Mexico fell into an economic crisis, and he raised a daughter who worked in a Los Angeles garment factory for 24 years, and spent a significant percentage of his income on a family with kidney disease that he left in Mexico.
He has used international money transfer services such as Western Union, MoneyGram, and Vigo to send money to his hometown. All of these remittance services are charged around $10 per $200. By comparison, the Mexican crypto asset exchange Bitso costs only $1 for every $1,000. Previously, half of the crypto assets were thought to be fraudulent, but after seeing the immigrants around them starting to use crypto assets one after another, they switched to crypto assets.
This remittance from the United States to Mexico was important to Mexicans suffering from the epidemic. This is because the Mexican government has taken striking relief measures, even though millions of people have been unemployed due to the flu. Meanwhile, because the United States has a huge stimulus package, many media reported that there are many Mexicans asking for money to be remitted to the U.S. stimulus package in Mexico, which has benefited from the Mexican government.
It is also supporting the spread of crypto assets against economic instability in Latin America. For example, the Venezuelan currency, the Bolivar, posted an annual inflation rate of 6,500%. In addition, foreign currency is also scarce due to economic sanctions. It is said that many Venezuelans are turning to crypto assets because their currencies are unstable.
Immigrants who started remittance of crypto assets from January 2020 are now also mining and investing crypto assets. He has also started a business that teaches online courses on crypto assets. When he left the factory and became a bitcoin investor, he recalled that he thought that a chicken trapped in a chicken coop would fly like an eagle. Related information can be found here.
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