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The Robin Hood Crypto Effect

As the time passes, cryptocurrencies, especially Bitcoin, are becoming more and more accessible for all the people, not just the super rich and highly educated crypto and investing fanatics. In fact, cryptocurrencies are actually leading us to a better, less unequal economy. How, you might ask? 

Because of the phenomenon called the Robin Hood effect. The Robin Hood effect is an economic occurrence where income is redistributed, so that the economic inequality is reduced. The effect is named after Robin Hood, said to have stolen from the rich to give to the poor.

We’ll explain to you how it works in real life.

As all blockchain and cryptocurrency transactions are automated and digital, they are trailed in a distributed ledger without any exception. The system can’t be manipulated by either individuals or companies, which hugely reduces the risk of frauds and malfeasance. That means that less developed countries will also have better chances of boosting their economical and social outlooks for the future. What’s more, all the individuals are able to keep track of where the state reserves are directed and therefore have a say within their own political climate.

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As all blockchain and cryptocurrency transactions are automated and digital, they are trailed in a distributed ledger without any exception. The system can’t be manipulated by either individuals or companies, which hugely reduces the risk of frauds and malfeasance. That means that less developed countries will also have better chances of boosting their economical and social outlooks for the future. What’s more, all the individuals are able to keep track of where the state reserves are directed and therefore have a say within their own political climate.

As Bitcoin doesn’t need an actual physical bank house to exist, the transaction expenses are very low. Bitcoin doesn’t need to pay for any employees, utilities or rent, so there is no need for higher fees. This in turn makes more and more people have more confidence in trusting these new financial tools. More trust creates more transactions, making for the global economy to be more closely connected.

Never has there been a better time to do business than it is right now. Blockchain technologies and cryptocurrencies can help entrepreneurs receive payments in more currencies. By using Swipex´s digital wallet, you are able to quickly convert Bitcoins into fiat currencies that you can later transform to investments, purchases or payments. 

The world is changing. Fast. The speed at which cryptocurrencies are taking over is a clear sign that traditional financial institutions can’t dominate so well any longer and that other financial needs are soaring and need to be focused on. Likewise, the world is facing an increasing need to remove the borders to build a complete social and financial inclusion. And cryptocurrencies have everything needed to address such issues.

It will be very soon until Bitcoin and other cryptos find a way into all of our lives, changing them for the better and giving us the economic growth and inclusion we need.  Billions of people will soon have the chance to easily invest, send money across country borders, save money and initiate businesses thanks to the marvellous possibilities that cryptocurrencies offer us.

It might come as a surprise that more than a third of the world population does not have any access to basic banking services such as loans, checking accounts etc. These people who are mostly already financially impoverished typically tend to use expensive and untrustworthy loaning methods. The interest rate of these methods is anything but fair, which then leads to more problems for the people who took the loan. This is where cryptocurrencies could help with their high volatility and ease-of-use.

There are now countless apps and services that assist the use of cryptocurrencies and make them easier to understand to the wider audience. Another advantage of cryptocurrencies is that it’s fully decentralized, meaning that trading can be done across borders for free. The use of technology will help to smoothen a financial revolution that will eventually make all of us more financially connected, empowered and enabled.

We already have a whole industry built for cryptocurrencies by institutions committed to supervising all the digital coin exchanges happening throughout the globe. The growth rate of cryptocurrencies is out of this world. It could be confirmed by early adopters who became very rich overnight and discovered possibilities to grow financially. Bitcoin, the most famous of these skyrocketing cryptocurrencies, has already helped many people and companies to expand and blossom, including many, who also have trading as their main source of income. Our global economy is slowly, yet surely shifting to adjusting to our unsatisfied needs and cryptocurrencies have a great potential in satisfying them.

So, in conclusion, by creating more equal opportunities and access to finances for everyone in the world, cryptocurrencies could be seen as a modern day Robin Hood. And we’re very happy about that. 

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