I welcome you all to another wonderful topic brought out by Inleo
Firstly I would love to say some things about cryptocurrency and how it has been of benefit to most of us, let me first talk about transparency, Cryptocurrencies have been developed on decentralized blockchain systems, which ensures a transparent and secure record of transactions. This has decreased the power of the centralized power and promoted financial accountability. For someone like me I do not recall the last time I visited a bank or deposited my money in a bank, I would rather invest my savings into a token that will yield more profit for me when the market is high.
cryptocurrency has made way for so many people in my country, people no longer rely on government jobs anymore, cryptocurrency has done more good than harm to the youth in my country, and the rate at which youths are now investing in crypto is much higher than begging for a government job.
The growth of cryptocurrency and blockchain technology has resulted in an expanding number of new products, services, and businesses. This has helped to boost economic growth and promote innovation in different professions. So many youth now promote cryptocurrency through their content on social media, Some are now into trading coins, and some have schools where they train people on how to trade, the right time to buy coins, and how to invest in a valuable coin that will be profitable in the end, and so on.
I do not know why our government has a problem with cryptocurrency in my country, they are against it because they believed it is used for money laundering, they believe that youths are now using the medium to run illegal businesses but I do not think this is true, crypto elevated us from poverty and makes some of us independent, I know so many people who live on crypto, the major source of their income is coming through crypto and they are doing well.
Now we are in the generation of a cashless policy where we can buy anything and then pay through our bank app or ATM, people do not need to take cash anywhere again and this has been helping a lot of people and cutting down the rate at which people spend unnecessarily.
I read a post by abenad last week where she explained how we could buy airtime using our HBD as the means of Payment, I took my time to check each step and I was glad that HBD is paving ways on web3 Blockchain and coming to the limelight.
Most countries now exchange goods with HBD, I wish that could be done in my country where we can just buy things and pay with HBD, or if we could have an ATM card just like other banks it would be so great.
I think this is not really working in my country because the government is against it and the percentage of people using Hive is low, so I can say it won't work here unless we choose to buy from each other and pay through HBD but I know that our government will never legalize it.
I took my time to explore the Leodex through the hive keychain yesterday, I was so amazed at what I saw, Leodex is now allowing the swapping of hive to any coin of your choice, this is really a great thing on hive and I'm sure givers will make use of this lovely opportunity and it will be best to make use of this than stressing to exchange our token outside hive.
These are the list of some tokens I found on the Leodex website and am sure there are still more.
Inleo is taking Hive to another space which I know will be of benefit to every one of us using Hive, this is one of a kind and I commend the effort of everyone who put this together.
NOTE: I GOT THE SCREENSHOT FROM LEODEX WEBSITE
This is my entry for day 11 of the #mayinleo prompt of the #inleo initiative, if you'd love to participate, you can read about it in the announcement post
Posted Using InLeo Alpha
I have come to enjoy the world of crypto since I began to understand it. I highly recommend it to anyone and everyone.
That's a decent amount of Leo, how did you do it? 😉
I logged in through hive keychain then I typed Leodex in the browser section
Sounds pretty straightforward, lemme give it a try.
I am still confused about crypto impact. The aspect that at the last mile it needs to be converted to fiat currency most of the time means that exchanges need to interact with various govts and as Nigeria is finding out that last part complicates things a lot. In India therefore crypto is not the first port of investment with equity/mutual funds and bank deposits still holding sway, along with real estate. I agree with you that crypto can be a great boost, even with all the scams going on. But Indians are concerned with putting a lot of there hard earned money into a token which is not regulated and hence if it turns out to be a scam there is no redressal. So typically they put into crypto as a secondary investment as a speculation rather than an investment. If government would wholeheartedly accept crypto then matters might change but our govt is not yet fully positive about it, though the negativity stance has reduced at the moment.
I do hope that at least a few tokens, in addition to BTC, become stable platform that all govts would accept. It will really help many many people as you have highlighted. In fact interacting with all of you, my west African friends, have opened my eyes to how useful crypto can be. Earlier I used to dismiss it as only practical to Silicon valley types :)
Cheers from a fellow #dreemerforlife
I have no idea about cryptocurrency but I love it and my interest to know it is high.
I guess the government just wants to see the masses suffering if not, why will they kick against every thing that has to better the life of their citizens
#dreemerforlife