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When a national currency starts losing value fast or banks throw in all kinds of restrictions, people often scramble for alternatives. After all, who wants to see their savings evaporate just because prices keep climbing or because a transfer or withdrawal takes weeks (or years) to clear? That’s where crypto has been stepping in for many. It can feel like a lifeline: money you can send abroad in minutes, store in your device(s) instead of a fragile bank, and in some cases, protect from runaway inflation.

Stablecoins, which are digital tokens tied to the value of a more stable asset like the US dollar, are at the center of this trend. They’ve become the go-to choice when the local currency is too risky. Of course, nothing is perfect: governments may crack down, taxes may be added, or certain platforms might freeze accounts. It’s not always the case, though. Let’s take a closer look at five places where crypto has become part of daily survival and see what’s working.

Argentina: Stablecoins as Digital Dollars

Argentina has been through years of rapid price rises, with inflation soaring exponentially and strict rules on buying foreign currency. If you lived there, would you trust the peso? Many don’t, and that’s why crypto has become so common. According to Chainalysis, Argentina is among the top adopters in Latin America, with over $91 billion received in 2024, and more than 60% of its crypto activity coming from stablecoins.

The most widespread are Tether (USDT) and USD Coin (USDC), often bought through local exchanges. People use them like digital dollars: for saving a bit that won’t lose value overnight, shopping online, or paying freelancers. It’s quick, it works, and it gets around strict currency limits. Besides, according to Map Bitcoin, there are at least 400 businesses accepting Bitcoin (BTC) as a payment method throughout the country.

Likely considering this popularity, the government has started adding taxes and tighter rules, which might make it harder to use for some. Still, for many Argentines, stablecoins remain a way to dodge the peso’s slide, and other crypto represent a chance for payments and investments.

Turkey: The USDT/TRY Phenomenon

Turkey’s lira (TRY) has had a rough ride, losing a big chunk of its value in recent years. So, what do people do when their money keeps shrinking? They look for something more stable. In Turkey, that often means crypto, and especially USDT. The pair between the lira and Tether (USDT) even reached about $22 billion in trading volume on Binance in 2024. Most folks here go for USDT to shield their savings or to send money abroad quickly.

Bitcoin is around as well, though it often flows through stablecoin pairs instead of trading directly against the lira. Sadly, direct payments with crypto have been banned in the country since 2021, but people can still buy, sell, and hold these assets. Service providers, like custodial exchanges, are heavily regulated, but there are no specific taxes in place for individuals —and plans for it have been abandoned so far. So, for now, cryptocurrencies are a lifeline for importers, remote workers, and online entrepreneurs trying to keep their income steady.

Nigeria: A Global Crypto Leader

Nigeria deals with high inflation and limits on access to foreign currency, making it tough to protect earnings or send money abroad. Despite that, or maybe because of it, crypto is booming. The country ranks second worldwide for grassroots adoption, with around $59 billion in on-chain value moved between July 2023 and June 2024. From that total, most part goes to professional operations, but retail plays a key role too. People are using crypto in daily transactions, including bill payments, mobile top-ups, and common purchases.

Stablecoins, specifically, are used to send and receive remittances because of their convenience. Decentralized Finance (DeFi) platforms have grown in popularity, and Bitcoin and Ethereum have a role too, but they’re mainly used as pathways for transfers or for trading rather than savings. At the end of the day, cryptos help freelancers get paid, families receive money, and traders protect themselves from the falling naira. It helps that the government has lifted its ban on crypto for national banks. There are still many regulatory ambiguities, but Nigeria remains a crypto leader globally.

Venezuela: Crypto for Daily Life and Remittances

Venezuela’s economy has been battered by hyperinflation, corruption, and repeated currency changes. Trust in the bolívar is almost gone, so people look elsewhere, and crypto often fills that gap. It’s been reported that, by the end of 2024, around $20 billion in cryptocurrency transactions have been done in the country. Nearly half of it under $10,000 involves stablecoins, mainly USDT, as well as Bitcoin, and Ether (ETH). These tokens are used for remittances, small business payments, and even daily shopping. Indeed, according to Map Bitcoin, there are around 1,388 businesses accepting crypto in the country.

Families abroad send stablecoins directly, skipping slow and expensive bank transfers or external services, and local workers like freelancers or shopkeepers get paid in something that holds its value better. All this flourishing market has arisen against multiple legal challenges, including crypto mining crackdowns, censorship on popular exchanges, and a general regulatory uncertainty. The current political situation of the country is delicate, as Maduro is widely known as an illegitimate leader. Therefore, common people often avoid the government’s rules (or lack of them) and trade on their own via international platforms like Binance.

Lebanon: Banking Freeze and P2P Coins

Imagine waking up and finding that your bank won’t let you withdraw your own money. That’s been a reality for many in Lebanon, where unlimited withdrawals were frozen since 2019, and their pound has collapsed. With banks failing them, many turned to crypto, often through chat groups or small local exchanges. Since around 2020, crypto wallets in Lebanon surged by more than 1,700% (the biggest spike worldwide), and by 2024, roughly 4.74 % of the population (about 248,400 people) were using crypto. That’s putting roughly $11.7 billion of value into digital assets for financial survival.

People are mostly using Bitcoin and stablecoins like USDT, with peer-to-peer trades emerging in apps, WhatsApp or Telegram groups, and even a few merchants in Beirut accepting crypto to dodge withdrawal caps and hyperinflation. Freelance remote workers earn in crypto to access global markets, some buy groceries, others mine coins using cheap subsidized energy, some others trade —and it’s become a daily necessity, not just speculation.

In legal terms, though, it’s all murky. Cryptos aren’t recognized as legal tender, banks are barred from dealing in them, and there’s no clear legislation or consumer protection. Still, authorities tend to tolerate informal use because people need it to survive. So, it’s a gray market that remains vital even without formal rules.

Beyond a Quick Fix

If there’s one thing all these stories share, it’s that cryptocurrencies, and especially stablecoins, have become the everyday tool to survive unstable economies. They keep money liquid and close to the dollar without endless paperwork, long waits at the bank, or blatant corruption. But here’s the catch: stablecoins like USDT and USDC are still controlled by issuers. And they can freeze funds or block addresses if pushed by governments or courts.

They can even do it just to stop support in certain chains. It’s happened before, multiple times. So, if you want something harder to censor or freeze, there are truly decentralized networks like Obyte. This crypto ecosystem works without miners, “validators”, or any other middlemen, meaning no one stands in the way of your transaction. In places where financial censorship is harsh, that kind of design could be a game-changer. Stablecoins can help you get by, but they’re not the ultimate form of financial independence.