Julin GYS автор ресурса
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15 января 2018

Cryptocurrency as a solution to the problem of money transfer between hostile countries

At this time, the terrible conflict between Ukraine and Russia has created a huge number of problems, primarily for residents of these countries. It's no secret that in 1991 the new borders of the countries of the former Soviet Union separated many families. The countries gradually gained independence, forming sovereign states, and there were no problems with money transfers, visiting relatives, etc. But at the beginning of the 21st century the bordering countries fell out with each other. Since then, the border rules have become tougher, at the same time the bank transfers have become a problem, although many families are used to helping each other financially.

A lot of state banks completely banned financial transfers; others imposed strict restrictions on the amount of the transfer or its terms. In war-time conditions between the states, rendering assistance to relatives and friends became more complicated; however, the war time does not cancel either the emotional connection or the need of help.

In such a situation, electronic means are considered as the first aid despite the fact that previously they were not common. However, no one even suspected that soon even the usual QIWI, Yandex.Money and similar programs would be limited by legislative acts and would also become inaccessible.

In such situation the cryptocurrencies can help out the people and families who are "on opposite sides of the barricades". Now this means of payment is becoming more popular, and the level of confidence in cryptocurrency is increasing every day. In this article we will try to show the advantages of cryptocurrency comparing with fiat money, and also talk about how people can transfer money in conditions of discord between states.

Cryptocurrency VS Fiat money

The cost of a fiat currency is supported by the state and does not depend on the value of the material from which they are made. A cryptocurrency is a kind of digital currency, the value of which does not depend on the state; its management is often decentralized.

According to the IFAK Institute for the Study of Public Opinion, which was conducted at the request of the Russian edition of DW, the level of people's confidence in the euro and the dollar fell slightly. These currencies remain fairly stable despite the crises. More than half of the respondents trust them, as it is shown in the graph below.

The survey, conducted also by BFM.Ru, shows that public confidence in the dollar is growing significantly.

That's why people want to send their relatives not the national currency of their countries, but dollars or euros, since such a currency is much more reliable, and its exchange can be postponed for a while, when the exchange rate becomes more profitable. Cryptocurrency in this matter has superiority over fiat money, because its rate rises fast enough. For example, when dollar rate may rise by 0.2%, cryptocurrency may grow by 20%, or even more. For a month the cost of cryptocurrency may double or triple.

Let's sum up and see what advantages cryptocurrency has over the fiat:

- no state regulation; 
- any documents is not required when exchanging a small amount of cryptocurrency for real money;
- fast price advance. Within a short time the amount of your gift or help can multiply.

Which cryptocurrency is more profitable?​

In today's market there is a huge amount of cryptocurrencies, and each of them has its own characteristics, advantages and disadvantages.

There are many exchanges that accept certain digital currencies, have their exchange rate and work with dozens of currency pairs. Which one should we choose? We offer you the choice of our journalists, based on a long analysis of the advantages of different currencies - this is Dash.

Dash cryptocurrency was created in 2012, then it had a different name and changed it twice, until in March 2015 it already received its current name. The creators of Dash established superiority over Bitcoin. For two years the author of the project thought about Bitcoin improvement and creation of complete anonymity for users. "However, when the idea has already appeared," says Evan Duffield, the creator of Dash, Bitcoin developers did not want to change their own algorithm for its code and, furthermore, insisted on the complete immutability of the project." Then Evan created his own program in just a couple of days, and, as the author of the idea says, it started working surprisingly great!

The advantage of Dash is the complete anonymity of users. In addition, Evan created an environment in which the miners really had to fight to get at least a minimum profit. This caused the birth of a healthy and functioning ecosystem. The whole system is based on 11 cryptographic algorithms. It complicates the mining system and at the same time makes it accessible to specialists. Thus, the developer fulfilled his main task, however, Dash demonstrated some other advantages over Bitcoin, the most popular cryptocurrency at that time.

Analyzing the characteristics of Dash and Bitcoin, we can say with confidence that the speed of work of Dash is enrapturing! Money transfers take no more than a couple of minutes; the standard is up to 40 seconds, while the transfer of Bitcoin can take more than an hour.

In conclusion, we can say that replacing fiat funds on Dash is one of the most rational solutions for those who need to make transfers between countries, especially under a conflict situation between states. In comparison with other cryptocurrencies using Dash allows to transfer money to relatives and friends anonymously, safely and quickly. Dash can become an emergency aid or a gift to some events, in any case, the delivery will be almost instant!

Find out more about Dash - here

589 Автор Julin
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