Real-Life Use Cases of Cryptocurrencies in Hyperinflation-Affected Economies (2024–2025)

In times of economic turmoil, traditional currencies often lose their value rapidly, leaving citizens scrambling for alternative means of storing wealth and making transactions. Hyperinflation has devastated several countries in recent years, particularly in Latin America and Africa. In these scenarios, cryptocurrencies have increasingly become tools of financial survival. This article explores real, recent examples of how people in countries affected by hyperinflation during 2024–2025 have adopted crypto as a practical solution.

Argentina: Crypto as a Hedge Against the Peso

By mid-2024, Argentina’s inflation rate surpassed 250% annually, eroding consumer purchasing power and weakening public trust in the Argentine peso. In response, Argentinians increasingly turned to stablecoins like USDT and USDC as day-to-day transaction instruments. These dollar-pegged digital assets allowed citizens to escape the volatility of their national currency without needing access to traditional foreign exchange services, which were tightly restricted by the government.

Freelancers and remote workers began demanding payment in crypto to retain the actual value of their earnings. Popular wallets such as Lemon and Belo reported record downloads and usage, with peer-to-peer crypto trading via Telegram groups also surging. Many small businesses began displaying QR codes for stablecoin payments to stay afloat.

On a policy level, provinces like Mendoza began pilot projects enabling local tax payments in stablecoins, recognising their growing role in preserving purchasing power.

Remittances and Borderless Transactions

Remittances from abroad, especially from Spain and the United States, became lifelines for many Argentine families. Traditional wire transfers were either delayed or hit with high fees, but crypto provided a nearly instant and cost-effective solution. With mobile apps like Bitso and Binance Pay, Argentine users could receive USDT from relatives abroad and convert it to pesos or spend it directly on groceries and rent.

This grassroots use of decentralised finance enabled people to maintain basic living standards without engaging with the collapsing banking system. The speed and simplicity of these transactions made them especially attractive to the unbanked or underbanked population.

As a result, crypto literacy grew rapidly across the population. Non-governmental organisations even began conducting workshops to teach people how to store crypto securely and avoid scams.

Zimbabwe: Crypto Filling Institutional Gaps

Zimbabwe experienced another wave of hyperinflation in early 2025, with prices doubling every few weeks. The Zimbabwean dollar plummeted in value, and foreign currency access was strictly limited. Many citizens sought alternatives that didn’t rely on collapsing institutions—and cryptocurrencies stepped in to fill this void.

Mobile crypto wallets like Trust Wallet and Cake Wallet became essential tools. With poor internet infrastructure and limited access to banking, mobile-based solutions were the only viable option. Peer-to-peer Bitcoin and Litecoin transactions became widespread, particularly in rural areas where cash shortages were acute.

Entrepreneurs used crypto to import basic supplies like food, clothing, and medicine from neighbouring South Africa. These purchases were arranged through WhatsApp and paid for with crypto, bypassing strict import controls and reducing dependence on unstable bank services.

Local Market Adoption

In Harare and Bulawayo, urban vendors began listing their goods with dual prices: one in Zimbabwean dollars and one in USDT or Bitcoin. Barbershops, repair services, and food stalls increasingly accepted payments in crypto, especially during severe cash shortages in March 2025.

Some informal markets introduced digital boards that showed current crypto exchange rates. Vendors used simple conversion apps to determine real-time prices, reducing the complexity of transactions and increasing trust among buyers and sellers.

Government policies remained ambiguous, but enforcement was inconsistent, allowing grassroots adoption to grow. As a result, entire neighbourhoods were functioning semi-independently of the failing financial infrastructure.

Turkey: Crypto Escapes Capital Controls

Although not experiencing hyperinflation in the classical sense, Turkey’s economic crisis escalated in late 2024, with inflation hovering around 70% and ongoing capital controls limiting currency exchange. Many middle-class and tech-savvy citizens turned to crypto to store their savings and bypass local restrictions.

Crypto exchanges like Paribu, BTCTurk, and Binance TR saw spikes in volume. Investors preferred Bitcoin and Ethereum for long-term holding, while stablecoins like USDT were used for regular transactions. High inflation also triggered a boom in decentralised finance (DeFi) participation, especially in stable-yield protocols offering returns in foreign-denominated assets.

For Turkish businesses engaged in international trade, crypto became a buffer against volatile exchange rates. Importers began paying overseas suppliers in crypto to avoid delays and inflation-related price revisions.

Education and Trust Building

Universities and fintech communities launched educational campaigns about blockchain security and wallet management. Telegram and Discord channels devoted to Turkish crypto markets became highly active, offering real-time updates on market trends and security best practices.

As banks continued to lose public confidence, some start-ups launched crypto-backed debit cards, allowing citizens to spend USDT or BTC directly at point-of-sale terminals. This hybrid approach offered a seamless bridge between decentralised finance and everyday shopping needs.

Interestingly, political discourse in early 2025 included debates on the formal regulation of crypto payments, signalling a gradual shift in institutional attitudes towards decentralised finance as a necessary buffer in times of economic stress.