In a country where less than 30% of the population has reliable internet access, Cubans have built an underground Bitcoin economy that thrives offline. With cash shortages, hyperinflation, and U.S. sanctions choking traditional finance, cryptocurrency has become more than an alternative—it’s a survival tool.
How Bitcoin Moves Without the Web
Cuba’s solution relies on a mix of old-school ingenuity and decentralized tech:
- SMS Transactions: Apps like Qvapay allow P2P transfers via text message
- Offline Wallets: Seed phrases traded in person on paper or memorized
- El Paquete Semanal: A sneakernet system where crypto updates travel on USB drives
A Havana mechanic explained: "I get paid in BTC for fixing tourists’ cars. My cousin in Miami converts it to cash and sends groceries via mules."
The State’s Contradiction
While Cuba bans private crypto exchanges, authorities tolerate it because:
- Remittances: $3.7B/year from abroad now often arrives via stablecoins
- Tourism Workaround: Casas particulares (private B&Bs) use USDT to avoid frozen bank accounts
- Medical Imports: Doctors trade BTC for supplies on the black market
The Risks of a Cashless Underground
- Scams: Fake "Bitcoin exchanges" steal pesos from the elderly
- Crackdowns: Police confiscate phones with wallet apps during raids
- Tech Barriers: Few Cubans own hardware wallets; most rely on vulnerable Android apps
Yet demand keeps growing. When Moneda Libre, a Cuban crypto project, launched an offline mesh network version of Bitcoin, 5,000 users signed up in weeks—no internet required.
What Comes Next?
As Cuba’s economy collapses further, watch for:
- Crypto-commodity barters (e.g., 1 BTC = 10kg of coffee beans)
- State-run CBDCs attempting to coopt the trend
- Solar-powered nodes in villages without electricity
This isn’t just about money—it’s about rebuilding an economy from the ground up, one satoshi at a time.
