How can I use crypto to receive money from abroad
1. Set up a crypto wallet:
You’ll need a non-custodial wallet (meaning you control it yourself) like Trust Wallet, MetaMask, Coinbase Wallet, or even a hardware wallet like Ledger for maximum security.
2. Share your wallet address:
The person sending you money simply needs your public wallet address (a long alphanumeric code).
3. Choose the right crypto:
Popular choices for fast, cheap international transfers are:
USDT (Tether) or USDC (both stablecoins, dollar-pegged) on networks like Polygon, Tron, or Arbitrum (because fees are very low).
Bitcoin and Ethereum can be used, but they sometimes have higher fees and slower transactions.
4. Receive and Cash Out (if needed):
Once you get the crypto:
You can hold it (more on that below for inflation).
Or convert it into your local currency through a crypto exchange (like Binance, KuCoin, or a local peer-to-peer service).
Big Advantages:
Faster than bank wires (minutes vs days)
Lower fees
No need for SWIFT codes, IBANs, etc.
Decentralized — no middlemen blocking your transactions
How crypto helps you save or hedge against inflation
Inflation eats away the value of your money — crypto can help fight that:
1. Stablecoins:
Cryptos like USDT and USDC are pegged 1:1 to the US dollar.
In countries with fast-devaluing local currencies, holding stablecoins can protect your money from losing value.
Example: If your local currency drops 20% but you're in USDT, your purchasing power stays steady.
2. Bitcoin as "digital gold":
Bitcoin (BTC) is limited to 21 million coins — it’s designed to be scarce, unlike fiat money that governments print endlessly.
Over long periods, Bitcoin has outperformed most traditional currencies and many stock markets.
3. Yield Farming / Staking:
Some platforms let you earn 5-15% APY (Annual Percentage Yield) by staking or lending your crypto — helping your savings grow faster than inflation
Cryptocurrency is a type of digital money.
It is:
Decentralized (not controlled by any government or bank)
Secured by cryptography (very advanced math that protects transactions)
Limited in supply (most cryptos can’t just be printed like regular money)
Instead of physical cash, cryptocurrencies live completely online.
You can send, receive, and store them just like regular money, but faster, cheaper, and without needing a bank.
Examples:
Bitcoin (BTC): The first and most famous crypto, often called "digital gold."
Ethereum (ETH): A cryptocurrency + a platform for running decentralized apps (smart contracts).
Stablecoins (like USDT, USDC): Cryptos tied to real-world currencies like the US dollar, making them more stable.
Key features:
Anyone with internet can use it.
You fully control your money if you own your wallet.
No middlemen like banks needed.
Transactions can be very fast (seconds to minutes).
Simple Example:
Sending Bitcoin is like sending an email — instead of a message, you're sending value, and no one (bank, government) can stop it.
Blockchain is the technology that makes cryptocurrency possible.
It is like a digital ledger — a public notebook — that records
Blockchain is the technology that makes cryptocurrency possible.
It is like a digital ledger — a public notebook — that records every transaction that ever happens.
Imagine:
Every time someone sends crypto, it’s written into a page of a book.
When the page is full, it’s sealed and chained to the previous page.
The chain grows forever — that’s why it’s called block + chain.
Key features:
Transparent: Everyone can see transactions on public blockchains.
Immutable: Once a transaction is recorded, it cannot be changed.
Decentralized: Copies of the blockchain exist across thousands of computers around the world (not one single server).
Simple Example:
If you bought a house with Bitcoin, the ownership record would be stored on the blockchain forever — no government office could lose or alter the record.
