- Countries facing high rates of fiat currency devaluation are considering the purchase of cryptocurrency as a more stable alternative
- The Lightning Network facilitates faster transactions for cryptocurrency and is also a low-fee alternative for sending and receiving payments
- LQwD has ten public nodes on the Network: in the U.S., India, Ireland, Germany, Indonesia, Italy, Singapore, Sweden, England, and France
- Highest capacity node is in the U.S., with 5.689273640 BTC (U.S. $224,452.01) and a channel count of 106 (established November 2021)
- The cryptocurrency market, although volatile, is estimated to reach U.S. $32,420 billion by 2027
Even before the war between Russia and Ukraine, currencies worldwide began experiencing devaluation. Devaluation is the official lowering of the value of a country’s currency, and as more states are facing this issue, many of them are seeking out cryptocurrency as an alternative. In terms of devaluation, the countries hit the hardest include:
- Brazil – 217.65% devaluation against the U.S. dollar 2011-2021
- South Africa – 102.74% devaluation against the U.S. dollar 2011-2021
- Mexico – 63.71% devaluation against U.S. dollar 2011-2021
- India – 58.58% devaluation against the U.S. dollar 2011-2021
These four countries are also estimated to be the four most likely candidates to purchase cryptocurrency within the next year, with percentages close to 50% (https://ccw.fm/LS0Tf). According to Gemini’s 2022 Global State of Crypto report, 41% of those who purchased crypto in 2021 were first-time buyers, with…
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