Cryptocurrencies in times of economic inflation
Inflation harms the economy and affects citizens, while austerity directly impacts their lives.
Inflation corrodes the value of the local currency, making the population poorer. This situation is common in Latin American countries, where some are more affected than others.
Argentina, a country in South America, is experiencing a rise in inflation, which stands at 276% annually. Argentine citizens see more and more how the value of the Argentine peso is depreciating, given the constant increase in the value of the dollar. American in relation to the Argentine peso.
Last year it was at 945 pesos per dollar and at the time of writing this article it is at 1430 pesos per dollar and it is estimated that it will continue to rise.
The main area that suffers significant changes is food, the consumption of beef is out of reach due to the high cost, leading citizens to look for substitutes such as pork and chicken.
The economic crisis has acted as a catalyst for the adoption of cryptocurrencies in Argentina, positioning it as a leader in Latin America.
It is also notable that Argentina represents 6.9% of the traffic on the Binance page. Argentines buy $USDT and keep it saved.
To protect themselves from inflation, Argentine citizens buy $USDT and keep them in case of emergency, exchanging them in the gray/dark market.
Why do you prefer USDT?
Due to the volatility of the cryptocurrency market, the purchase of $BTC $ETH $BNB or any other non-stable cryptocurrency is not seen as an option by Argentines, while USDT guarantees the stability of the value which is 1:1 in relation to the dollar.
Now let me contrast social mining, as a way to obtain cryptocurrency and help mitigate the harmful effects of inflation on the personal economy.
Social mining in @DAO Labs is a decentralized work system that promotes technological projects in blockchain. Social miners extract knowledge that they convert into informative content, their valuable contributions are rewarded with cryptocurrencies. Social miners make profits even in a bear market.
How Web3 serves as a source of income?
In #DAOLabs there are 6 active technological project centers in #Web3 , these centers provide job offers specially designed according to the purpose of each center, among them are DAOVERSE where everything begins, this center reward with $USDT, @Polygon with $MATIC , TON with $TON , KAVA with $KAVA , @WAX with $WAXP , @Avalanche_CN with $AVAX . The aforementioned hubs are top 100 projects on CoinMarketCap.
The social miner can make an economic plan according to the rewards received, which help cover needs. The more active and better your contributions are, the better the profits will be.
In my personal case, I will cite @Ton Network as an example, a center where I have obtained more than 4 thousand points and 0.1 reputation, not counting the points accumulated in the other centers in Dao Labs.
TON is carrying out a campaign with the firm objective of putting $USDT in the pocket of every user. USDT has notably boosted the growth of TON
The integration of USDT makes it easier to use TONCoin and has contributed to its market value. TON offers a robust infrastructure for decentralized applications and has seen significant growth thanks to the integration of USDT. Keep an eye on TON and take advantage of its opportunities in the world of web3.
TON's TCHub is the hub available on @DAO Labs waiting for more users to join the social mining movement.
If you want to know more about the centers in @DAO Labs and social mining, you can visit the website, the account on X Social Network and the group chat on Telegram.
#SocialMining #ArgentinaCripto #latam
Sources:
1. cointelegraph News Argentina leads crypto adoption in the Americas
2. forbes in Spanish digital assets why Argentines affected by inflation are turning to cryptocurrencies.
