More Civilians Than Terrorists Are Using Bitcoin In Palestine as Crypto Interest is on the Rise
It is kind of a cliche to say that terrorists use Bitcoin (BTC). How true is that, though? This is debatable. According to a recent report made by Coindesk, Palestine has more civilians using BTC than the terrorists from Hamas, a local terrorist organization.
While it is true that Hamas is using BTC to get money via cross-border transfers and that the usage is ramping up lately, the truth is that most payments are still fully legal. One of the main reasons for that is that the general awareness about the asset is now higher than ever. While Hamas is receiving tens of thousands of dollars, civilians are actually transacting over $5 million USD.
There are many examples of people using BTC for their daily activities. The freelance developer Ismael Al-Safadi, for instance, receives several small payments in Bitcoin. According to him, this is ideal because it is very simple to receive the money and there are no extra fees or issues.
The issues mentioned by him are real. American or Israeli authorities constantly block completely legal bank transfers because of “terrorism”. This gets in the way of many people who simply want to work and receive their money. It is not impossible to clarify the situation when an issue arises, but it can be a pain.
Several banks don’t accept Bitcoin traders as clients, though, but many believe that the risk is worth it. In Palestine, many civilians consider that Bitcoin works a lot better than banks. When the banking system fails, Bitcoin is there to solve the issues.