bitcoin for refugees

Bitcoin Allows Refugees to Only Carry Key Phrase Instead of Cash

After attending the Bitcoin for Fairness workshop in Lusaka in March 2022, Zambian ICT journalist Brenda Zulu, noted in a blog post that bitcoin is a solution to the problem of taking your funds with you, if you have to flee your country. Brenda wrote:

Anita Posch [the founder of Bitcoin for Fairness], a Bitcoin educator, said yesterday during a training in Lusaka, Zambia that if Ukrainian refugees had digital assets such as the digital currency and Bitcoin wallets, it was possible for them to just carry their 12-word phrase which was a set of words that allows them to recover and use their private key.

Posch said that if possible people should memorise the 12 word phrase because some people have lost money because of losing their passwords to bitcoin wallets.

Posch said if the refugees could recover their private key, they could access their bitcoin wallet from anywhere in the world without having to carry anything around. She said, “Those that have invested in bitcoin can only carry their paper with the 12 phrase words, which is a simple, powerful, user-friendly security measure and no one can even trouble them for that.”

[…] learn 12 words by heart, and you can flee your country with your wealth intact. – Gigi in “Dear Crypto & Fiat Bros: An open letter to the confused and dismissive.”

Here is the full article.

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