Quote from: Ozero on July 28, 2024, 10:55:09 AM

Quote from: Adbitco on July 20, 2024, 06:34:20 PM

The reason why crypto is mostly valuable during war is you can transact any place without the need to go bank, and of course during war banks are being short down and you can't access your funds during war so the only alternative is through cryptocurrency provided you have internet access and have mobile phone makes it more easier to transacts without having to seek permission from third party.

I live in Ukraine, where a full-scale and bloodiest war in Europe since World War II has been going on for three years now. From time to time, I asked my friends how much cryptocurrency had helped them, especially in the first months of the Russian invasion, when the Ukrainian banking system was experiencing significant difficulties. I can say that in general, cash was used for payments; I did not see any significant demand for the use of cryptocurrency among my friends. But in this regard it is very difficult to get any statistics.

Transferring funds in cryptocurrency from one person to another is done quickly if you have the Internet and appropriate devices, but in many cases, fiat is needed for the final stage of most transactions, and you still can’t do it without banks. Of course, the reason here is still the low liquidity of the cryptocurrency; over time, it is quite possible that the situation will change.

There are some scenario where cash or cryptocurrency won't longer help you out let say if you are in place where bank doesn't operates meaning you are entirely out of fiat and again if you lost internet access then you can't transact your cryptocurrency except you go for the area where there is internet connectivity. I could remembered that during war many people wouldn't be that mindful with their personal information especially most of them could misplaced their seed phrase or lose their phone where they would lose all their asset but still it needs carefulness during to be able to either use cash or cryptocurrency.