In the occupied Palestinian territory of the Gaza Strip and the West Bank bitcoin has proven itself to be crucial survival tool. It allows them to shop online or transfer money beyond borders. Something that would not be possible using wire transfer or systems like Paypal. As was reported by Coindesk.
There are cases where people from Europe got their bank accounts closes because they sent money to Palestine. Paypal also doesn’t allow money transfers into that region of the world. “Bitcoin is cheaper, safer and quicker”, is what one of the Gaza currency dealers told Coindesk.
However, in Palestine there are continuous power outages. To make things worse, the normal banking system isn’t really working well. So converting your BTC to a local currency that you can spend on the market, is almost impossible.
For every day expenses, bitcoin doesn’t seem to be a solution. Especially when you’re dealing with a middlemen who is manipulating his prices amidst the crisis. Yet, people receive money from abroad through the Bitcoin blockchain and that’s already helping a lot of people who are living amidst the ongoing conflict with Israel.