Bitcoin Forum

What online service / product would you buy in this recession ?

What virtual product/service would you buy now ,knowing that there is a economic recession ?

not product or service,btc it's a currency

Answer to all your questions would be : Basic things needed to take care of family.

For the second it would be : Bitcoins and other new ICO token coins , because the government is literally not doing anything and unfortunately everyone is jobless and suffering therefore I will place my best bets with safe trading and if I lost more than 10% , would encash out instantly since the time is dire and whatever you loose would affect your family and you too .

I would like to extend this thread to tell how we should start saving up and taking care of our situation since I do not think we would be on the track soon enough.

Depends what do you have in mind, something that is necessary for the living or something that might be considered as investment.
I'm sure that majority of people in the current situation buys only what is necessary for them and their families and try to save as much as they can.But in necessary things usualy don't belong online services.
On the other hand, some want to take for their future somehow and investing might be a good idea, like in shares of some medical company that is neae the discovery for COVID 19 vaccine or cure.

investing in shares/stocks may work for you in the USA with robin hood and 401k , here in Europe is very very bureaucratic,can you believe that in Europe,we are not allowed to buy/sell Options ?  

Cryptos/Bitcoin i don't want to get in to it as some will argue ...

The only crypto i would invest in is :
1.Must be decentralized
2.The coin must behave like a fiat , like when you give fiat to someone that transaction is not recorded and should stay anonymous...
3.The blockchain should clean it's self of unnecessary data after a period of time
4.ZERO transfer fees ,when you give fiat to someone ,nobody asks you any fee in real life
5.It should support smart contracts
6.It should support atomic swaps with coins using same source code
7.The coin you transfer should be backed by something important to you,something you want need in you pc phone(contacts/hard drive,ssd total erase etc ) ...like if your user A you want to send coin xyz ,you allow user B to see what's in your device , and User B values the coin based on what you have in your device ...WHAT i am trying to say is data it's self if it has value can become a crypto if we can figure out a way to encrypt/decrypt it ...

Should it be online products/services?
I prefer to buy daily family needs by online, can it be? For, going outside is riskier, so buying those products online is better right?
What's else I will concern to buy during this pandemic and recession? Car? House? No, we don't need them right now.

But, if I have more money, I think that online gold investment may be worthy, can it be one of them?
I wonder what else I can buy, but nothing. I only concern to my life and family life continuity.

Do you have lockdown in your community? Because this is only suitable for countries that are not in lockdown. We can buy online products, but the question is. Does it necessary? Because you will pay highly in fee and probably a long week of waiting to deliver the product.

So, I think it only applies for countries that doesn't in lockdown. Well, if ever I will buy, PPE's is the best to be bought in online. It doesn't expired and it is really helpful in this current situation.

I think that what will be in high demand now is going to be health products like facemask, medications and so I can invest with somebody too with that ideology, this is the time of medical sells as profit will be guaranteed.

Honestly I kinda wanna buy a TV. I have a crappy TV, 55" but it's like the cheapest 55" TV you can find, so it's all slow and sucks. Investing in entertainment in such scenario is not a bad idea, we're anyway spending lots of time at home so why not make it a bit more enjoyable.

Of course don't blow it all on enterntainment.

Virtual products or services? Not much. In fact, I cannot think of anything in particular right now.

But in these recent times, most purchases are basically done online, but those are not virtual products. Those are basic necessities such as food and groceries. Stay-at-home orders make many of us highly reliant on online delivery services.

In my place, we cannot just go out everyday. Public transportation is also reduced to the minimum. The places where we can go to are also very limited. Online delivery services staff have special passes which allow them to go to work everyday. They could easily pass through checkpoints as well.

And what's the purpose of this? Random survey on which business model would fit on every economic occasion?

Virtual services like technology and IT are recession proof business. Specially during this time where people has been forced to stay and work at home. IT products such as basic programming or setting up a stable connection for webinars and other online courses will be at a high demand.
Anyway, virtual services that are most likely to sell at this current situation are online class courses and third party online app for food delivery.

You could also buy Bitcoin.
Bitcoin isn't just a currency, It is also considered as a virtual product, because you are using $ to buy fragments of it in the first place.

You mean *what product/service you would buy online*, Or you really mean "what online service/product you buy...."?  Guess the "virtual" points to the direction of what you really mean (mostly online based or virtual products/services?)

Well, I probably go for very educational/useful audios, videos, ebooks, games, softwares. The products/services will mostly teach about how to thrive in serious crisis... or help me stay safe in serious crisis.

Now it’s best to buy something for which the demand is not great now. Some stores are on the brink of ruin and are beginning to sell all their products in order to at least somehow recapture the proceeds. For example, electronics or home goods stores. I do not recommend mass buying essential goods since the demand for it has remained the same or has increased several times.

Virtual services like technology and IT are recession proof business --- not really ,as freelancer i got only 3 clients in 2 months ... both programming and design is down now as people can't afford to buy this services , the big prrojects that don't have enough capital will fail 1 by 1 , i was lead developer on one of this projects ,it failed 2 months ago in March we worked on it for 4-5 years.... the only IT projects that will survive are does that generate income or good ideas ...


 

Electronics and home goods store not good idea now as people bought smart phones ,furniture etc when economy was good ... good electronics you can buy from a second hand store or a pawn shop ...

I think no matter what the time or the current situation that we have, the best thing to buy when it comes to products and services that you could have is education. Whether you could have the time to learn a new language or not, it's not wrong to invest in those things. I spent on some products, too, just like the things below.

• Marketing Copy Strategies
• Sales and Marketing on Facebook
• Wordpress Basics and Marketing

If some people would want to invest in crypto, I think the earlier, the better. Maybe buying a trading tool like Gunbot is good as well.

Personally, my crappy laptop is bugging me as of late so perhaps this is the thing that I need to look for in the next couple of days and purchase a brand new and retire this for good.

But obviously, our first priority though is food, so I'm also taking that time to buy, specially during pizza buy, I bought some and celebrate it with my families without them knowing that it's bitcoins pizza day. So I would say that anything that can get you and your families in this lock down specially essential good are a good buy, in my opinion.

Those skill set courses or e-books might be the best thing to buy for me which I think I really need. I wouldn't buy unnecessary products on this pandemic because it makes me want to save more as much as I can. There's no need for me to buy things that I don't need.

But with those books, courses or any resource that can help me hone some of my skills or make me discover another skill to produce another source of income, it's necessary to have. I'll avoid to buy new gadgets or appliances.

Food delivery is also a great business this time, many wouldn't go out but if you need some cash and you have a car or motorcycle, you can be the delivery guy.

It depends if I cared about the recession or not. By cared I mean "not feeling safe financially".
I'm currently pretty safe being an all in Bitcoin hodler, so I'd probably buy some stuff for entertainment purposes like a virtual reality gaming headset  ::)
If I felt unsafe and expected a crisi to hit, i"d first make sure that I don't hold anything in a bank, withdraw all to hold cash, get Bitcoin, buy fuel, food, alcohol (that's important, you know for wounds and stuff  ::) ) And make sure my home and car don't need any maintenance.

I'm interested in this points as they draw attention to fiat;
1) Fiat transactions are recorded and are not anonymous. You should indicate the distinction that this occurs when exchanging physical cash. The society however is becoming more digitalized, so majority of transactions are done using digital devices and are recorded.

2)Again, this only applies when exchanging physical cash. There are many cryptocurrencies which offers lower transaction fees. Bitcoin does not lead in this area, but if you want reduced fee in BTC, you can use a segwit address.

The point for a crypto is no to become a regulated currency ... my dream digital currency is a currency that replaces all currencies , a universal currency similar to gold but digital ... and one more important thing ...the digital currency should work without the use of internet ...

What i see in my mind is a simple crypto that anyone can use :

A dollar is just a piece a paper that has a serial on it ...

So my imaginary crypto is the same just a serial number that gives access to something of value ...


  

Probably foodstuff, fruits and vegetables which will strengthen the immune system. However, taking some online classes which will improve my computer skills so i can work remotely  and also order for books which will give me more understanding about how to spend wisely and wealth management.

^ Definitely everyone would buy necessities of their family first before anything else if someone would say saving or investing for the future that is not true they are doing it because at the time when they are saying it nevertheless they already have everything they need at home or probably they are not the one responsible in providing the necessities of their family like the sons or daughters whose parents are still the one who provides everything for the family. I am not against those who are in favor of saving or investing during this time of pandemic in fact I salute to them because they also look forward to the future and trying to secure it as well. In reality the first thing I bought when the recession started was food and other basic necessities at home both through the online and physical markets then I paid all my subscription to get a continuous service.

I have been dealing online shopping a lot more frequently during this break. I normally never use amazon for example because its not something I really care about or use since I can get everything just 100 meters away from my home at a grocery store. They have everything I would need daily, and for the expensive stuff I love to go and check what I am going to buy and buy accordingly.

With corona and recession, I realized I couldn't do that and I need to find the best prices for everything to buy them cheaper and I realized amazon is the best place for that because its cheaper. I can't get all of my daily needs but for the other stuff I could find on amazong I have used it like crazy. It is not just amazon, I have used all the online shopping places, I compared the prices and realized they are both cheaper but also safer since I don't have to go outside to buy anything.

Many people are dropshipping online masks,  gloves and hydroalcoholic gel. It makes sense since many countries population today still don't have enough of these essentials and are turning to the online market to buy them because they simply can't find them at physical stores. We will probably still need these products for many upcoming months as this recession isn't planning to stop anytime soon so I would definitely buy those products online costing me less money as well.

I cannot think of any virtual products or services to be purchased online because it is unnecessary since we are in a crisis, I will just tend to buy necessities needed to survive this pandemic like foods, medications and other related stuffs that are essential for the crisis we have right now. Actually I do not patronize online shopping since I tend to find it on my own but because of the pandemic, since convenience stores are getting out of stocks, I tend to seek and buy online to be able to have one.

With the economic recession we are having right now, I tend to be more wise on spending money in a sense that if I can find alternatives on what I have been searching about, I would do it to lessen my expenses on thing so that I can be able to save up my money for greater usage.

I am not buying anything apart from the things I need at home and I usually buy them online, except drugs. When I need to buy some pharmaceuticals, I leave my house to where I can get them and after that I go back home. As for food, I order them online, and it's not just food, there are other things I do need and I go through online stores and once I find them I make orders and it gets delivered to my house.

I never used to be into buying things online, but ever since this pandemic started I have been used to it to the extent that the lockdown got lifted and I never stopped. Bitrefill helped me to spend my cryptos locally to purchase what I need to be safer and alive. Luckily I got services which are delivering groceries for cryptos; honestly before lockdown I have never taken time to check with them but now I plan to buy my monthly needs using cryptos.

Pretty tricky question. Now I wouldn’t buy anything superfluous at all, except food and housing. Because it is impossible to predict what will happen tomorrow due to a pandemic. But if you include fantasy, then I would invest in stocks of either hydrocarbon companies or high-tech ones.

I purchase online courses for my wife mostly to increase the sale value of her riceball bento products. I also purchase many for kids' homeschooling products, especially those that hone children's cognitive abilities and creativity. In this pandemic condition, children's health and education remain a priority for me and my wife. The assignments given by the school are sometimes less interactive so the wife decides to look for fun homeschooling programs for children so that learning at home remains effective and efficient.

In addition, we also set aside a little income for charity programs for the community affected by corona as a form of responsibility to others.

When the recession hit, I only bought large stocks to hold for a long time. because when the recession comes, the stock market will be affected first, especially technology enterprises. Then we have a good chance to buy many good stocks. but I still have a second option, which is to buy bitcoin and real estate. Bitcoin will undoubtedly be affected in the coming recession and the price will drop sharply like February 24 when bitcoin dropped from $ 9k2 to $ 3k9.

It is good to purchase a ready-made food delivery store.
But in our country this is a lot of competition.
No ideas on starting an offline business. I think that while you can take your time, but online stores of products, household chemicals may be relevant

Vegetable and plant seeds to grow food. Solar panels and inverters for energy production. Water condenser and filters in case potable water becomes unavailable. Rechargeable batteries. Radio in case TV/internet/cell goes down. First aid kit. Home defense and surveillance. Basic emergency supplies could be customer favorites in preparation for a worst case scenario.

I'm observing markets and crypto hoping to learn a little more about how they fare under global pandemics. In the past I've heard finance analysts claim stocks like campbells soup (canned foods) were good buys during recessions, when consumers sought less pricey food. Its interesting how markets have shifted so that conventional investment wisdom is no longer panning out.

A good proportion of people I know have taken to buying online courses at the moment, everything from IT certifications to Masterclasses in things like script-writing or cookery. Many are rightly worried about post-Covid job security so an extra feather in their cap wont hurt. Others just have an unprecedented amount of time on their hands and are finally getting around to pursuing the dream of writing, learning to cook properly etc.

Courses like these are good buy IMO (if they actually complete them). The sense of fulfillment that comes with doing something productive is very important as weeks pass by and not much else is being accomplished, particularly for those who cant work from home.

I'm buying cellphone load, prepaid load is very popular here in our country I'm also paying for an internet connection, the worst thing that can happen to you right now is not to get connected to get the latest news and update on what's happening around you and in the world during this pandemic, I'm also  buying groceries on online groceries because we badly need groceries during this time.

I don't think there should be any limit to what I can buy online these days.
I have been buying a lot of things. As for virtual services, I don't know what you're really referring to there you said virtual services. By saying virtual, are you referring to services that require the help of a virtual assistant? Just like social media management and online marketing? If that's what you're referring to here, then I am not in need of those.

I have only been buying products that I need. I make orders through online shopping sites and they get them delivered to me. Recently I read that gyft is closing their services which must be impacting bitcoiners on their ability to spend for their daily needs but fortunately we are having similar services which may continue to help people to spend everywhere they want to.

At this period of time I don't limit the opportunity to buy as many as possible online goods especially Bitcoin and ethereum is the the most target in our day to day online business.

I have seen many people here in my place doing online selling already. They are selling clothes, foods (with free delivery) and anything that will help people to there everyday lives. In my case, I don't have anything to sell here but I have know how to sell some things.

In terms of online service, anybody that can be done thru online would be a good choice right now. If you will see those freelancers who are working on their home didn't get affected too much because they can still work and give their services thru online unlike those people who are working 8 hours a day to different establishments.

Anything that can be done online right now is very helpful so utilize the power of internet and find something that can give you profit online.

the first think i will buy its something that necessery to help me on my WFH , then i buy some tutorial to make my knowledge better and then i will buy some entertain service like netflix etc

In situations like now I reduce purchases, so I only buy something important. Usually I buy equipment for my work needs,
I buy online at a market place. Because of my work as a content creator, I bought it camera, microphone, hard disk, and so on.
For daily needs I do not buy online, if there is still money left over I bought cryptocurrency or gold.

Depends on where you live. Lots of places are heavily dependent on the physical ones.
 I guess the commenter is actually referring to the physical aspect of fiat which is actually anonymity/privacy friendly. There are alot people using physical fiats without the banks (which is where trackings usually take place). I believe this can also be done even with the digital currencies. Lots of people probably don't know this yet.

The service which can fill my family and my daily needs, so I don't have to go out from home. And for ordering the food, I already use some services provider which include in all things that I need, so I only need to use my phone to make an order to them. They will delivery my order anytime, and every time I place an order.

But I little bit confuse about online service/product would I buy because that means something that we don't need in our daily life. If that is the case, perhaps, I don't need those services because I would prioritize my daily needs first besides the other things.

Simply e-commerce sites are going to be the next best revolution after the end of covid spread because people will be afraid to go out and also this lockdown made more lazy.If we see the economic news world wide when each and every company is layoff their employees but amazon recruited lot of members for inside works like office job, so you invest on those sites to get more reap.

Well everyone should be wary of the real situation, after 3 months of being under quarantine most of people don't have that sustainable goods for that long unlike wealthy ones so it is a must that everything we buy is just as we need as food and water. To me online market doesn't seem to be that needed since we can acquire and buy foods in the market which does not have any online version of course. You're a freelancer right? I think you guys are having harder times unlike the others coz there is no literally projects ongoing outside.

Yeah coz I don't think you'll get to find any store like the supermarket. As for me I have my kinds of money, one is for digital and one is for my needs, typically I have more funds in crypto than any other but things are different so I need it to be balanced. And you know it's kinda risky to have crypto right now, It's not advisable.

During this period gaming became a lot bigger in my life, I was in no means a non-gamer before this, I always loved playing games and I continue to do so, but it just became a bigger part of my life. Now I am considering making this a profession, not as in esports and making profit by playing a game, but I realized people love playing games, and they love it even more when they do it together, so that could be a business model right there.

I am not planning anything right now, but when you connect the dots it gives you some ideas of how to get people together, not that it is the full picture but it is a cool idea. This recession allowed me to figure out what I want in this life and what makes me feel like I can do as a business and be happy about it forever.

E-commerce is the latest trend now, the only thing we need to do now is to have more money so that we can fund our e-commerce business, but when you already manage all the things, I am sure e-commerce of yours could be huge, this recession it is the thing that I want to start but due to lack of fund I stop.

Basically, if you do understand what position we are going to be in for the next couple months (at least) - you will understand, there are no way to spend your money on anything which is not needed.
Everything surplus you should invest in anything you think is appropriate.

It all depends. I don’t like buying one asset, I like to diversify the money and buy lots of things as much as I can afford, though not too much, just things I believe that they are very good. I am already a Bitcoin investor and almost all the time I do have some bitcoins stored in my different Bitcoin wallets. Apart from the BTC I do buy, I have also been buying mutual funds.

Also, I like to share something different than spending bitcoins but I believe that would be useful for many people here. I developed interest in this through a savings app I was using. It’s been really good, though the returns I get from it annually is not much. I also invest in farming which is the second best thing apart from cryptocurrency.

I didn't need to buy any online service or product in this crisis. I just need to buy daily necessities for my family. Everything you don't need, don't buy to save money.

The e commerce market are always on the rise and basically people use it to purchase electronics and generic items. Some people will be afraid to go out after the pandemic craze but you cannot think that the majority will be shying away. People are already frustrated stacking inside and now you cannot get inside an restaurant if you are not wearing mask until you reach your seat. If there is a major recession then all the companies will lay off people.

I wanted to buy something that would give me a profit nowadays. Laptop, mobile phones and other profitable products since the pandemic started. I want to earn as much as I can right now so I could save money that I can use after the recession to invest, stocks or crypto currencies.