Afghans Looking to Crypto for Preserving Their Wealth Afghans | Bitcoin Crypto Expert

Afghans Looking to Crypto for Preserving Their Wealth

Afghans buy cryptocurrencies from local brokerages which use the P2P method with foreign accounts to purchase digital assets.Despite the recent trend of developing countries gaining exposure to cryptocurrencies, buying digital assets like Bitcoin, Ethereum, and stablecoins isn’t easy at all in countries like Afghanistan.

Since last August, when the Taliban seized power in the country, America-initiated sanctions have crippled domestic funds from being moved to international financial institutions. Meanwhile, due to the nation’s monetary and political instabilities, Afghans choose stablecoins over previously preferred assets like jewelry or cash.The sweeping sanctions that have crippled Afghanistan’s economy have caused a surging interest in holding digital assets in the country as people struggle to protect their wealth.