Education: Crypto the eighth largest economy in the world. Gabriela Reyes, CEO of Lively Verse asks, how can that uplift the people who need to use it the most, when they feel like it’s hard to even buy crypto?
It’s no surprise that the first half of 2022 hasn’t been kind to the global financial markets, especially for cryptocurrencies. Still, their adoption continues to grow globally, even though the crypto winter is in full swing.
The daily trading volume of cryptocurrencies has increased to $93 billion. The global market cap is currently sitting at over $1 trillion, making crypto the eighth largest economy in the world. Especially in low and middle-income regions like Africa, Latin America, and Slavic countries, crypto adoption has substantially grown. People are seeing digital assets as an alternative means to boosting financial stability.
But this unprecedented growth in adoption is not matched by the increase in knowledge and literacy. According to a recent survey, 96% of Americans and 99% of Brazilians and Mexicans failed the basic crypto literacy quiz. This is even though nearly 30% of the world’s Bitcoin supply circulates in North and Latin America.
But why is crypto literacy so critical? Isn’t it as simple as buying coins for a lower price and selling at a higher price for profits? Let’s discuss.
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