Some African crypto users see Bitcoin as an alternative source of retirement income

Bitcoin use cases in African countries continue to grow, most recently being used as an alternative source of retirement income. In a continent struggling with high inflation and variable currencies, decentralized and censorship-resistant, bitcoin is seen as a "safer contributor to retirement." This switch to bitcoin goes deeper in countries like South Africa where traditional pension funds have "historically suffered problems of fraud and instability," according to a local report. The report, based on an analysis by Yellow Card, a crypto company, is explained as follows: This is reported that a large number of users, especially in countries such as South Africa, are using their Bitcoin savings as a more secure source of access aid for retirement. However, the report still states that Bitcoin has yet to be proven to be a reliable long-term investment. That's why the report warns long-term savers to consider all possible scenarios and options when planning retirement. Meanwhile, the results of the Yellow Card analysis confirmed Bitcoin's status as "a cheaper alternative to selling and paying via wire transfers". Likewise, the analysis found that many users see bitcoin as a viable investment and act as a way to generate additional income. It is these use cases that help explain "the unprecedented increase in the purchase and use of cryptocurrencies in the African continent," according to the analysis. Do you agree that Bitcoin is now becoming an alternative source of retirement income? Let us know what you think in the comments section below. Emerging Markets, African Cryptocurrency, Bitcoin Remittance, Bitcoin Saving, Crypto Usage, High Inflation, Long Term Horizon, Pension Fund, Additional Income, Unstable CurrencyMore

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