However, this is where Bitcoin, a digital asset that boasts safety measures to inflation and other unfavorable market changes, has become extremely lucrative. There were several trends that took place this year that have managed to turn the tide in favor of Bitcoin and have resulted in an all-time high surge. 

While Bitcoin remains the most popular cryptocurrency in the world, 2020 has seen significant growth for stablecoins, which are cryptocurrencies that are designed to fiat conventional currencies such as the American Dollar.

Stablecoins minimize the volatility of a coin and provide an opportunity for users to convert volatile Bitcoin into a more stable asset. This year has seen the value of stablecoins surpass $20 billion, which shows an incredible year-on-year increase of almost 300%.

Industry experts believe that the vast majority of consumers flock to stablecoin for its unrivaled stability as the conversion from Bitcoin to stablecoin protects assets during market turbulence. Many emerging markets struggle with high inflation.

Marketplaces began to offer stablecoins and hedging to individuals in these regions, which allows them to convert their Bitcoin to the stablecoin, in the event of an imminent price drop, which can be reverted to Bitcoin once the turbulence has passed while preserving the desired price. 

Countries that had been labeled “emerging” before the pandemic has managed to maintain their growth trajectories despite the global health crisis this year. The increase of cryptocurrency transactions taking place in these regions serves as proof that their respective markets are continuing to grow as people look for safe-haven digital assets, such as Bitcoin, that they can trust.

The driving force behind the growth of Bitcoin in these emerging markets is its simplicity. Transaction processes are faster, easier, and more affordable which means that there is greater access to global markets. Crypto trading market places such as the-bitcoinfuture.org  have witnessed the influence that rising markets have had on Bitcoin’s value over time.

Global transactions on these platforms have increased significantly, with countries such as Nigeria, Kenya, India, and South Africa showing the highest growth percentages. This has made it obvious that emerging markets are likely to be the future of cryptocurrencies and the economy. The increase in tech-savvy citizens from these regions who are using Bitcoin to send money, accumulate wealth, invest and trade has been seen for quite some time. 

Charity Organizations and NGOs have also played a part in the Bitcoin surge, by accepting Bitcoin to support their respective humanitarian causes. In Nigeria, a case of police brutality resulted in many people donating in cryptocurrencies to aid and support the communities that were involved.

In October this year, an Africa advocacy organization that collected around 40% of the $387 000, to assist protests, did so in Bitcoin. Developments similar to this have been observed in countries like Chile, Venezuela, and Zimbabwe. There are also a few Bitcoin marketplaces that have started initiatives to provide humanitarian relief to different causes in emerging economies.

Some have focused their initiatives on education in poor regions and are raising funds to build schools, while others have focused on the community as a whole and have raised money to build wells and gardens that can be used for sustainable agriculture practices. This year has seen even more humanitarian support, through Bitcoin transactions, that aim to provide African regions with PPE equipment, medication, and food. 

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