The Social Impact Of Cryptocurrency: How Micro Investing Is Helping The Underfunded

Micro investing, also known as micro saving, is the practice of setting aside money in a very low amount to invest with the aim of achieving financial independence.

Not only does it give you access to new options and ways to invest your money, but it can also save you from poverty down the years if you maintain consistency.

In this article, we find out how micro investing is helping underfunded investors and what steps you can take to improve your financials by investing the dollars that are left over after the bills are paid. 

Cryptocurrencies are revolutionizing the way people interact with the global economy. In recent years, micro investing through cryptocurrencies has become a popular way for the global poor to improve their financial stability and access to essential services.

Cryptocurrencies allow for near-instantaneous transactions, making them an efficient way to transfer money to and from participating countries. Additionally, cryptocurrencies offer an innovative solution to traditional financial problems such as high interest rates and volatile currency markets. 

Micro investing with cryptocurrencies can help bridge the gap between financial accessibility and economic opportunity for those in need. Cryptocurrencies allow people to invest in small amounts without having to worry about large losses or missed opportunities.

This allows for more people to get involved in the cryptocurrency ecosystem, which ultimately helps to grow the technology, improve market security, and empower individuals around the world.

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What Is Micro Investing?

Micro investing is the act of investing small sums of money in a variety of different assets, including stocks, commodities, and in this case cryptocurrencies.

Micro investing has a number of social benefits, including:

1. It helps people become more educated about financial products.

2. It encourages people to diversify their investments.

3. It creates opportunities for people to learn about new technologies.

4. It enables retail investors with very small budgets.

Unlike traditional investing, micro investing is a great choice for retail investors and cryptocurrencies are a perfect example of how micro investing can make a big impact on a minimal budget.

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How Cryptocurrency Transforms Lives

Cryptocurrency is changing lives around the world for the better. It’s helping to break down barriers and provide access to financial services for people who would otherwise be excluded from the global economy.

Through micro investing, cryptocurrency is able to provide investors with a low-cost and diversified way to participate in the market. This allows those who may not have access to other forms of investment opportunities the chance to become involved in the global economy.

Cryptocurrency has also been proven to be an effective tool for charitable giving. Through donations made in bitcoin or other cryptocurrencies, organizations are able to receive donations without having to worry about commissions or other fees associated with traditional donation methods.

Getting Started With Micro Investing

Cryptocurrency is often thought of as something for the wealthy, but there are lots of ways to get started with micro investing in cryptocurrency. This is preferably done through regulated bitcoin investment sites. Here are three safe and reputable platforms to get started:

1. Coinbase

Coinbase is a digital currency exchange that offers a user-friendly platform for buying, selling, transferring, and storing bitcoin, ethereum, litecoin, and other cryptocurrencies.

It’s one of the most popular exchanges available and offers one of the lowest minimum deposit thresholds making it an exceptional platform for underfunded investors.

2. Binance

Binance is another popular crypto exchange that offers a wide range of cryptocurrencies, including bitcoin, ethereum, litecoin, and many more. It has an extensive selection of coins and provides a user-friendly platform with great security features.

A benefit of Binance is that you can use the peer-to-peer marketplace to exchange crypto between users where hundreds of exotic payment methods are offered.

Binance also has very few restricted countries on its list of banned geographics making it a great solution for developing countries.

3. Robinhood

Robinhood Crypto is a mobile app that lets you buy and sell cryptocurrencies like bitcoin and ethereum in small amounts, commission-free.

One also can buy crypto through the use of Robinhood’s monthly investment subscriptions called Robinhood Gold and Robinhood Platinum. 

Robinhood is a great place to invest without having massive fees hurt your return on investment or too many technical customizations required for investing in cryptocurrency. 

Micro Finance Through Cryptocurrencies

Micro investing through cryptocurrencies is helping the world’s poor escape poverty and instability. In many cases, these investments provide individuals with a stable source of income and the ability to purchase goods and services they would not be able to afford otherwise. 

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For example, in Zimbabwe, inflation rates are estimated at 500,000 percent per year. This means that a dollar will only buy about three-quarters of a loaf of bread upon departure from Zimbabwe. Through purchasing cryptocurrencies, people in Zimbabwe can access alternative forms of investment that are not subject to such high levels of volatility.

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Furthermore, Bitcoin ATMs allow people in remote areas access to basic financial services without needing any special equipment or knowledge. The global poor have benefitted tremendously from micro investing through cryptocurrencies.

Government control over financial services can create disincentives for people to participate in such markets. International cooperation provides a particularly important agency for enhancing micro investing security around the world. 

Thus, for example, efforts in Switzerland have made holding cryptocurrencies beyond the reach of governments acceptable. Cryptocurrencies possess features that make them applicable for micro investing and transaction settlements around the world.

In areas where there are a significant number of unbanked individuals, barriers to access may be present which limit positive progress in the field of financial inclusion. 

Financial protections such as cross-border currencies proposed through crypto-economic mechanisms provide effective options for ensuring micro investing security abroad and at home through cryptos development in Africa. An illustrative currency is one designed by Zimbabwe and Kenya but only adopted by the latter after years of research and agreement with the African Union. 

Conclusion

Cryptocurrencies are quickly becoming a global phenomenon, with people all over the world investing in them in hopes of making money. While there are many benefits to cryptocurrencies (like increased privacy and security), many people aren’t aware of their social impact.

Micro investing through cryptocurrencies is helping the world’s poorest individuals by providing them with financial stability and allowing them to break free from traditional banking systems.

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Ella Marcotte

Jonathon Spire

Jonathon Spire

Tech Blogger at Jonathon Spire

My diverse background started with my computer science degree, and later progressed to building laptops and accessories. And now, for the last 7 years, I have been a social media marketing specialist and business growth consultant.

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Jonathon Spire

I blog about a range of tech topics.

For the last 7 years I have been a social media marketing specialist and business growth consultant, so I write about those the most.

Full transparency: I do review a lot of services and I try to do it as objectively as possible; I give honest feedback and only promote services I believe truly work (for which I may or may not receive a commission) – if you are a service owner and you think I have made a mistake then please let me know in the comments section.

– Jon