Topic: Will coronavirus encourage people to use crypto more thoroughly? - page 5. (Read 1140 times)

In times of COVID Digital money is the perfect solution - no touching, no transmission.
Digital currencies such as TemTum which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.

Why would people change to cryptocurrencies only because they want to stop using cash? They can still use fiat money electronically with debit or credit cards and there are numerous apps to pay with fiat. Unfortunately it seems that cash will gradually become obsolete and unless people understand the fundamentals of some cryptocurrencies and want a decentralized currency, they are still going to use fiat money electronically.

if the main thing about online transactions is crypto, a good choice for transactions as long as the corona virus continues and this will have an impact on crypto adoption. I mean like people are interested in or taking part in cryptoqurrency. but we all hope that the corona virus trend will end soon.

Maybe, but we are my really sure about that. I already heard that lots of people in China are no longer making use of bank notes and are now making use of WeChat Pay, whereas for other countries it is PayPal. People might be avoid cryptocurrencies because they are volatile, stable coins don’t even stand a chance here because no one knows about them, unlike Bitcoin you’re not going to find places where stable coins are being accepted.

Maybe a time will come when people will start investing in Bitcoin, all these things might have happened and discouraged a lot of people, but don’t be surprised that the price might pump at anytime.

At this time everyone is not only discouraged, but experiencing fear of the transmission of the corona virus, so whatever they do seems to go awry, and if I may know, why do you make repeated words in your posts?

You are right that people are getting discouraged in many ways at the present time. But now we hope that it will change at a time. You are right that people are getting discouraged in many ways at the present time. But now we hope that it will change at a time.

personally the only lesser known altcoins who I think will make it through this pandemic, are the ones with bigger plans than just being on exchanges.
Like TEM for example, they have an LOI with Anguilla to provide them with a national digital currency and deals with more countries in the works.
This pandemic will cause most IEOs and ICOs to fail but TEM never did that, privately funded and eyes on the future.

Exactly. Once people see the true benefits of crypto over Fiat, they'll adopt it for their own benefit. When the financial system collapses, everyone will be looking for alternative ways to conduct transactions in the mainstream world. Crypto's decentralized design gives the power back to the people. No one is in-charge of its supply or issuance rate as everything is governed by the protocol's rules. Decentralized finance is believed to be the future, as it proves to be quite convenient in times of need.

While the recent events of the coronavirus pandemic has shocked markets a little, most cryptocurrencies have retained a high price. Bitcoin, being the first cryptocurrency ever created, has properties similar to that of Gold. Its unmatched security and limited supply makes it a true winner in the Blockchain space. People may be cashing everything for Fiat right now. But once trust is lost in the world's monetary system, you can expect a greater degree of adoption within decentralized cryptocurrencies like never before.

With crypto, people can send money around the world cheaper and faster than an ordinary bank or traditional payment processor would. I believe that most people don't realize the true potential of crypto and Blockchain technology yet. But with due time, we'll be able to see great results in the level of adoption of this emerging industry. Until then, Fiat will be the currency of choice for everyday payments especially in a crisis like the one we're facing today. Crypto needs more time to mature for people to gain trust on it. Price volatility in terms of Fiat is what kills it. Hopefully, this matter would be resolved as time passes by. Just my thoughts

Nobody would be caring about crypto right now if you ask me, right now is not the time to take a look at crypto and think about how it could be used a lot better, it is now the time to make sure we survive this. Online payments are still a thing and many many people forget about it, if online payments exists and you can simply buy anything you want off amazon using your credit card, bitcoin is not bringing all that much difference, IF that wasn't an option bitcoin would have been 100k today right away, but its not.

All in all, nobody learned nothing from this corona thing and crypto together, sure we learned that we should not mock pandemics because they could become so much worse, and sure we learned that crypto is a volatile thing, but that's about it.

But it's much easier, time-saving and economical if things are in place for Cryptocurrency usage in this time of a pandemic, maybe future generation will take the lead and promote the usage of Cryptocurrency when another of this kind appears but hopefully never again but we really can't tell.

If we look at the events that exist today, the choice of digital money is a very good thing. but if we look at the circumstances and technology as an important factor in realizing digital money is still lacking. because not all purchase place, such as shops and so on can receive and serve this digital money.

It's obviously if you are a crypto enthusiast, but country like Italy which I think is very slow as far as crypto adoption is concerned, this is a big and probably eye opener for them.


Just imagine in some South East Asian region wherein internet is very slow, lol.

I think it's still too early to say the coronavirus impact has diminished. According to some experts, the impact of coronavirus will last for several months and I think will affect world economic growth. Regarding the impact of coronavirus with the use of cryptocurrency, I think it is still too far even though many countries already allow cryptocurrency transactions

I think that if a person does not have a credit card, they will not be able to use cryptocurrency. Because the presence of a credit card indicates the financial capabilities of a person. Therefore, such a person may not have the necessary minimum for calculating a cryptocurrency such as a smartphone, because a push-button phone will not be able to help him with calculations.

Now that Bitcoin is recovering it seems that this virus outbreak won't do any damages anymore and in fact can make crypto to become very popular because stock market failed to recover

I don't think people will encourage to use cryptocurrency because you know cryptos are volatile, maybe they prefer to use their digital local currency but it will be good if people use cryptos so the market will recover.

That could happen, but if they cannot use their credit/debit card, they will search the other way to buy their daily needs, and in that time, maybe they will try to use crypto as the solution. With crypto, they can use to buy not just their daily needs but they can buy anything they want, but with one condition, the merchant can accept the crypto for the payment.

Technically yes, mass adoption in crypto has been applied thus it's very accessible for the people to buy crypto without actually going to banks or whatsoever. Some people will prefer global transaction via crypto since it's quicker and cheaper. Although some users prefer mobile banking, it's not very convenient for them to transfer it to a person who's in another country thus crypto can be their alternative option.

No. People will be ordering food and supplies off of Amazon, GrubHub, Doordash, whatever- but they won't be using cryptocurrency to do it.

It's the most obvious way. Bitcoin is well known and has an established market position so why not turn to to it for help when you cannot use cash and at the same time want to decrease the number of fiat transactions so that online banking doesn't get laggy like netflix and youtube.

I hear there's a problem with the Internet connection in some parts of Europe bacause too many people stay at home watching streaming services. You can make all people suddenly stop using cash and switch to online banking because the platforms are not ready for it.