Although most of the world’s investors in cryptocurrency choose to buy crypto assets in spite of their volatility, some crypto users are actually using cryptocurrency assets as a ‘safe haven’ for their funds. According to a report from Reuters, residents of Zimbabwe have turned to cryptocurrency as a safer alternative for wealth storage and investment.

The report explained that some Zimbabweans “are turning to bitcoin out of desperation as their bank deposits lose value almost by the day”. Bitcoin has also been used by Zimbabweans for a variety of practical financial needs, like “funding family members studying ... (read more)