Does crypto benefit financially disadvantaged individuals

The use of cryptocurrencies has proven to be a fast and cheaper means of carrying out financial transactions locally and internationally

Financial freedom is a function of the individual’s mindset and the ability of the same to have time to achieve their set goals with a function of time. 

So many people tend to struggle from the challenges of the economic plague ravaging the entire world due to failed policies from financial authorities of various governments.

This has brought untold hardship and poverty in the lives of the inhabitants of the nations as the  Financial services have struggled with the archaic method of moving funds, requiring the traditional swift methodology of wire transfers around the world. 

As responsive as it was in previous years, this financial system has proven to be slow and more expensive for moving funds across borders of various countries. 

This has also limited those who are financially incapacitated as it would cost them more just to use the fiat financial system as a means of transferring funds in their daily business lives.

However, the advent of Blockchain technology and cryptocurrency has changed the dynamics of conducting business and financial transactions globally. 

The use of cryptocurrencies has proven to be a fast and cheaper means of carrying out financial transactions locally and internationally for both small and large businesses globally.

People would require very little need of a third party to enable them to execute transactions seamlessly due to the firm mathematical principle associated with blockchain technology and cryptocurrencies.

Who are the disadvantaged in society?

This involves people who are "from lower-income backgrounds" or "the Disadvantaged Poor" or alternatively the "economically disadvantaged" - terms used by government institutions so they can, for example, allocate free school meals to "a student who is a member of a household that meets the income eligibility guidelines for free or reduced-price meals”. 

In line with crypto currencies, this can be said to represent people who cannot afford to buy any of the cryptocurrencies. 

However, it has been proven that the crypto space can empower the disadvantaged as long as they have knowledge of how the crypto currencies can benefit them. 

Several crypto projects have helped to transform individuals with their educational contents and information about the use and adoption of cryptocurrencies as a means of financial empowerment. 

There are instances where newbies were invited to perform certain tasks, being paid in cryptocurrency and in a short period of time the value of the cryptocurrency exploded and transformed their finances abundantly. 

We also have well meaning individuals who are very generous in their giving, in a way that they supported community members who are going through financial challenges and were able to settle those problems just by the use of cryptocurrencies. 

This has endeared so many new members in the crypto community and opened their perspectives on the use of crypto.

The Klever community 

Klever has also been an invaluable resource for people who would be considered disadvantaged in the crypto community due to its involvement in educational content, which has empowered that community.

Klever's Friday giveaways and contests have also benefitted society and the community collectively.

As a Klever team, we are deeply committed to the community, and we care passionately about the safety and comfort of our members and traders.

The support team makes sure that those who feel disadvantaged get answers to their questions as quickly and as thoroughly as possible by encouraging them to learn financial literacy.

It is indeed worthy to be part of the Klever community even as  we welcome new and intending members to start downloading the Klever Wallet and Klever Exchange. We believe that with this change they can have access to a world class service no matter what their status or class are in the crypto space. 

It is indeed a Klever thing to do as we spread more love for our community.

By James Enajite
Klever Writer

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