In the recent past, the world has gone through unprecedented times that have left everyone in awe as pockets ran dry, due to bulging budgets caused by irregular hike in commodity prices.
Look at this, in a period of just like 4 years, the economies of the globe have suffered under COVID-19 disease which caused an almost total shutdown, other countries have been hit with catastrophic floods while other have undergone longer dry spell seasons.
All these are calamities which are beyond human control and when they occur, they cause serious financial implications. Do we even have to talk about the ongoing wars between nations and the consequences they bring to our volatile economies?
Inflation is one of the major implications of such incidents.
Let’s take an example of Kenya where I hail from, and try to put this reasoning to perspective. 4 years ago, a bag of cement in an ordinary hardware costed an estimated figure of Ksh 800. At that time the exchange rate was 1USDT = Ksh 100, meaning the cost was approximately 8 USDT.
Due to high levels of inflation caused by some of the factors mentioned above, the cost of a bag of cement at the time of writing this article is approximately Ksh 1000. Interestingly to note is that the exchange rate at this time is around 1USDT= Ksh 130, meaning that in terms of USDT the estimated cost of the same commodity is at around 7.6 USDT.
Now, you will note that whereas the value of cement has increased in Kenya’s local currency, the same has reduced in terms of USDT.
Picture this, a person who decided to save their money in USDT four years ago have managed to maintain value for their money despite the twists and turns in the economy which have made the Shilling to lose value. They can be able to purchase cement at the same price as fours years ago in USDT.
As I write this article, I am a one happy businessman because now with MiniPay it is easy and simple to save my money in form of USDT and maintain value for my cash. USDT is a more stable coin compared to the local currency which is vulnerable to economic volatility and dynamics.
And as if that is not enough, saving your money in USDT with this Fintech ecosystem presents you a chance to even grow your savings. Your savings will grow at a rate of 2% on a weekly basis when you hold more than 5 USDT in your MiniPay account. Where else have you ever seen that? This rate is way beyond the current interest rates in the market; whether in banks, saccos or money market funds (MMFs).
MiniPay as a product of Opera Mini is a real game changer in the Fintech market as it gives a chance to we as Africans to grow our wealth seamlessly with more stable currencies such as USDT.
Try MiniPay and say goodbye to inflation, you will not regret.
