Gaza Strip, Palestine, Caught in Conflict, Utilizing Bitcoin As Reliable Payment Unit

  • Yuri Molchan
    📰 News

    Analysts have estimated that Gaza Strip has around two dozen unofficial exchange points where locals can buy virtual tokens. They invest Bitcoin abroad to buy securities


Gaza Strip, Palestine, Caught in Conflict, Utilizing Bitcoin As Reliable Payment Unit

Analysts have estimated that the Gaza Strip has around two dozen unofficial exchange points where locals can buy virtual tokens. They invest Bitcoin abroad to buy securities– their own country, Palestine, presently does not provide any opportunities for investing.

The local community is certain that Bitcoin has the features that fiat money does not– it is safe, fast and cheap. They also use crypto to shop online and transfer funds to other countries to their relatives.

Even though this territory is isolated due to the long-lasting military conflict, it does not suffer any hyperinflation, like Venezuela and Turkey do, however, the locals are still happy to gradually adopt electronic money.

Cover image via u.today
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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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