As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?
While I think you've highlighted a correlation between Covid and the growth of certain cryptocurrencies in the last year, I think it's more attributable to the huge savings glut that is currently going on. While many people have unfortunately lost their jobs, others have been able to massively cut back expenses (no more holidays, new car purchases on hold, etc.) and some of those are sitting on lots of cash with few profitable places to use it. Some countries like the UK have the government paying wages and other countries like America handed out a couple checks with free money to help people through. Banks in many countries now pay pitiful amounts of interest rates on savings accounts and the stock market tends to make around 7-8%. Many younger (all ages really) people are very attracted by all the success stories and large returns seen around cryptocurrencies and are deciding they want to join the action. I'm not sure they are using cryptocurrency as a way to complete transactions like you're suggesting, but rather as a way to increase their money by owning an asset.
