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Besides, a Syrian refugees who can manage to get their liquid assets into a digital store like bitcoin could probably alsoamage to get them into a commodities a
by ineedasername 6y ago
Besides, a Syrian refugees who can manage to get their liquid assets into a digital store like bitcoin could probably alsoamage to get them into a commodities account and buy gold. Bitcoin isn't the only way, or even most convenient way, of moving assets across borders.
- mannerheim 6y agoCryptocurrencies are supposedly popular among Venezuelans, although I wonder what the advantage is of using them versus any fiat that isn't the bolivar. Anyway, seems easier for them to obtain crypto than getting a commodities account and buying gold, since presumably one would have to deal with KYC/AML in that case, and one can continue to use crypto as a currency within the country (though I doubt Bitcoin, since the transaction fees probably amount to more than a typical Venezuelan earns in a month).
- HeadsUpHigh 6y agoPaper gold maybe. Buying actual gold tends to be harder than one might expect and it's almost always monitored and kept track of.