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Let's say you're fleeing Tunisia with a liquid net worth of over $10k. You want some money in cash, certainly. But crossing borders with over $10k is a legal p
by lilsoso 5y ago
Let's say you're fleeing Tunisia with a liquid net worth of over $10k.
You want some money in cash, certainly. But crossing borders with over $10k is a legal problem. You're also liable to be robbed. It would make sense to convert most of your money to USDC.
If you end up anywhere in Europe, and probably many places in the world, you can find cryptocurrency ATM machines where you can withdraw your crypto without identification for nominal fees. As others have pointed out, there are cryptocurrency debit/atm cards via services that require formal registration (ie, they obey KYC laws). There are services you can transfer crypto to through circuitous routes that will dump currency in a bank account you specify -- you'd have to dig to figure that path out as it is not quite legal. And you can always barter with humans directly -- which shouldn't be too difficult. You'll have to do some creative thinking...
Stablecoins are ideal for this situation. How else would you move $50k when you're illegally ("undocumented") crossing borders, your government is corrupt, and your banks have shut down?