LGBTQ people are often cut off from their families of origin, therefore their familial wealth networks. This can be especially true for trans folks and queer people of color who are already marginalized in our society. The Buying Bitcoin of cryptocurrency could provide an opportunity for marginalized communities to build inter-community wealth networks that bypass traditional forms of accumulation and allow for financial independence and growth among disenfranchised groups.
There are many more ways that cryptocurrency has helped the LGBTQ community than what’s listed above. Through their continued use of this technology, it’s expected that even more opportunities will become available for this group moving forward. Crypto is taking over the world. Whether you’re on one side of the crypto debate or another, it’s undeniable that there are major implications for how we live our lives and how we do business.
With the advent of blockchain technology and cryptocurrency, the LGBTQ community has seen a rise in the opportunities that are afforded to them. Here are just a few ways that crypto can help the LGBTQ community in the present bitcoin era:
Elevated access to monetary investments
The ability to accept and make payments from any location at any time through the use of cryptocurrency offers members of the LGBTQ community a safe way to invest their money where they wish, without having to worry about potential discrimination and scrutiny. Conventional financial institutions often put up roadblocks for LGBTQ investors, leading them to turn instead to less-structured investment markets for their capital. Crypto allows for an even playing field for all investors, regardless of sexual orientation or gender identity.
Escape electronic monitoring
By using cryptocurrency, LGBTQ participants can essentially be invisible when it comes to electronic surveillance, which offers greater privacy and freedom. Electronic surveillance is a major problem around the world, with oppressive regimes tracking its citizens in order to persecute them for their sexuality or gender identity. Crypto allows users to store and move their money anonymously, which protects them from being tracked electronically and helps them stay safe from persecution as they seek out the social services and support systems they need.
Possibility for productivity expansion
Through cryptocurrency, members of the LGBTQ community can now enjoy greater access to international markets, as well as a larger talent pool which can help increase productivity. LGBTQ people are often shut out of productive opportunities in their own countries due to prejudice. However, because crypto works outside of geographical constraints, people have access to opportunities anywhere in the world—even if they’re banned from work opportunities at home due to their sexual orientation or gender identity.
Wedding licenses on the network
With cryptocurrency, members of the LGBTQ community can easily obtain wedding licenses online without having to worry about bias or prejudice from those who work in their local government offices. Cryptocurrency is poised to make a big impact on the LGBTQ community. From increased access to monetary investments, to the possibility of expanding how we think about productivity, to the ability to escape electronic monitoring, crypto has the potential to transform lives in important ways.
Cryptocurrency, with its decentralization, anonymity and transactional independence, can offer a solution to the economic challenges faced by LGBTQ people. Another way cryptocurrency can help LGBTQ community is by providing new possibilities for productivity expansion. With cryptocurrency, sex workers and adult entertainers won’t be forced to use third-party services like PayPal and Venmo anymore. They will be able to accept payments directly from clients without worrying about discrimination or account suspension. For the LGBTQ community, crypto can mean a lot, and we’ve only just begun to see its potential. Crypto helps people join together in larger groups to take control of their own monetary investments, which makes it easier for groups with traditionally less access to investment funds, like the LGBTQ community. Investing in crypto helps people avoid electronic monitoring of their money, making it safer for those whose finances may be monitored by others who would use their information against them or seek to limit their financial activity.
Cryptocurrency allows people to easily exchange value in any economy, which is especially empowering for those whose communities have been marginalized by traditional economies. Crypto also enables secure transactions and smart contracts that can be used for everything from medical records to wedding licenses—which is crucial for individuals who live in areas where marriage equality has not yet been fully enacted. The LGBTQ community has long faced discrimination and exclusion. Many members of the community have been denied access to loans, mortgages, and other financial investments.