Bitcoin Forum

We are all still currently experiencing the effect of pandemic and most of us do still tend to stay at home to avoid getting infected by the virus.

My question is that does this pandemic intensifies the usage of Bitcoin knowing that physical or paper money might also be a carrier of the virus once pass on hand might caught droplets bringing the virus from a certain individual.

Using Bitcoin provides cashless experience that we know safer with this pandemic so, does this means that people will tend to use Bitcoin at this time or still into fiat?

For me YES, but there is still some alternative on Bitcoin, especially for those people who don't know yet what Bitcoin is. Like there is some e-cash where you can use and much friendly on some people that is not too techy, just like Apple Pay, We Chat Pay, their credit cards or PayPal, etc.
But for me, I rather use Bitcoin because I don't have those kinds of e-cash or mode of payments.

Probably in some countries yes, more Bitcoin users are using it right now for payments (if the merchant is accepting it).

Here in my country, I didn't felt that Bitcoin usage has increased since the pandemic. I'd say that online transactions had increased massively because of the fact that the physical cash can be a carrier of virus but base on my experience, I saw many people here using e-cash rather than using Bitcoin. People right now are paying what they are buying online using digital cash and not Bitcoin here unfortunately because many still don't know how to use it for transactions.

In my part, Bitcoin helped me too to buy some things but I don't use it directly as a payment but I'm converting it into digital cash where that is the one I will use for payments online.

Some government started to ease the lockdown, so it's possible that majority are going back to work, unless you are already working from home.


Bitcoin is not yet universally accepted as payment scheme, and only a small percentage really know what crypto is, and most merchants offline and online are still not recognized BTC.


I do agree, but we still have debit/credit cards or paypal as options for cashless payment.

Based on my observation, the prevalence of bitcoin as a mode of payment in my country is very low, we have delivery services app and they are adapting on how to make a contactless transaction even with physical money as a mode of money, cash apps are the most prevalent because more people know what to do with it and it is also in our country's currency.

Little to no effect in my opinion. If there is, most likely not a significant effect. While the pandemic sure pushed us faster towards a cashless society, let's not forget that we already have platforms such as PayPal/Venmo/Cash App/mobile banking/whatever-your-country's-alternative-is/etc to solve this.

People(at least the huge majority) wouldn't necessarily move to bitcoin just because they want to be cashless due to the availability of the above services with FAR better user experience.

No. It's adoption is pretty limited at the moment and only a select few actually accept Bitcoin as payment. And by that, I mean the physical store ones. Merchants would most likely refuse it because of the high fees as well as it's low adoption. As for e-commerce sites, there's a few of them out there, but not enough to actually say that usage got "intensified". Not to mention that Paypal, debit/credit card, Digital fiat exists, which imo, at the current state of the world, is a lot easier and understandable to use.

Plus, most people see Bitcoin as an investment. They see it as a way to make money, not a medium to be used to get something else. And as long as that kind of idea stays the same, I doubt adoption would be possible in the near future.

I totally agree with this. I think what the pandemic increased in Bitcoin is the users activity in the cryptocurrency rather than an actual usage as a way to pay goods. There might be people who are using Bitcoin as goods but I think from my own experience, it's because of the services that the third party wallet is providing to us users which only few use. I use Bitcoin to buy something I want using a third-party wallet by the way.

First, as has already been mentioned, there are just so many other convenient options if you prefer to transact cashless.

Second, it is not really a question about using Bitcoin or not, it is more of a question of where to use Bitcoin. How many stores and shops, both online and physical, out there which provide customers the option to pay in Bitcoin?

This question is asked before.Search the forum for the old threads about this topic,instead of asking it again.
Is there any legit proof that the usage of Bitcoin "intensifies"?Increase transaction volume?Increased price of Bitcoin?I don't see any evidence that the usage of Bitcoin is increasing.
The massive lockdowns are in the past,at least in the western world and Asia.People will slowly return to their normal lives.Most of the people in the western world are mostly using debit/credit cards,not cash,so they already have an alternative to cash.This theory has been shared during the last three months and it has been proven wrong.

Nope thats wrong.Most of people now are tend to go out finding money and foods,because they're drained when the almost 3 months lock down happens.
according to google  https://www.pymnts.com/cryptocurrency/2020/pandemic-sparks-mainstream-interest-in-bitcoin/

the mainstream sparks interest because of this pandemic.

actually this pandemic thought people why need to use Physical money when there are online options.

Pandemic effects reveal the efficiency of a cashless society, but not a crypto usaged based one. Most of them use digital fiat, and hell, even with that, those without access to those still use physical fiat to transact. Talk about the usage of Bitcoin when people actually coin it as a currency instead of an investment.

Interest doesn't mean usage. Besides, the article you linked doesn't even have an inkling of connection to the mainstream interest said in the title. Just scanned it for a bit and it basically talked about the recent swings in price of BTC, which again, does not mean an increased usage nor is it a spark of interest on Bitcoin for the usage adoption.

Depending on their choice because there are so many types of transactions without cash as well as debit, paypa, visa etc. therefore some of them might still use bitcoin in individual transactions but for me if for shopping for other purposes then I think it's not bitcoin used because basically the shop or shopping part does not accept bitcoin but I think in the future it will be even better in this regard.

In fact, bitcoin transactions are more effective and easier to compare with other payments, but I think they all need a process.

I doubt very much that a pandemic as such can contribute to this. Cashless payments using plastic cards are still relevant. To really increase the frequency of use of bitcoin, it is necessary to ensure that it can be universally accepted as a means of payment. In this direction, the situation hasn't changed at all.

I don't think so, because aside form Bitcoin as cashless payments there are more alternative ways of having contactless payment like using cash that usually considered as unclean that might citing coronavirus. Just check and research on google, the higher percentage of having contactless payment is a debit/credit card. As I can see, mobile payments are has a low rate of adoption compared to e-banking services that allow online banking transactions.

Most Bitcoin holders think that Bitcoin is a safe haven investment not a kind of payment method.
Intensifies the usage of Bitcoin? A sort of there's a little bit, but when we're speaking of adoption, there is a big impact.

This is hard to say Because I don't think there is any research that copes with that question.
However, there are some other studies that shown that usage of all kinds of digital services and new technologies increased during the pandemic so I suppose that can apply on Bitcoin too. But as long as we don't have some exact figures we can only make conclusions based on the impressions which are not objective.
Since Bitcoin isn't centralized and not regulatwd and also no one is actually collecting any data about it we only guess what is the true situation about Bitcoin usage. I would like to see that changed one day.

I think this is a really big "Maybe" because we know that not many stores, merchants accept btc for transaction, many offline stores don't accept the use of crypto for payment yet, so until we are certain that a large number of sellers accept btc in most countries we can draw this conclusion, but I don't think with the limited acceptance of btc in most countries this is the case.

Rather I think more of cashless transactions occurred during this period, you don't really need cash or touch cash before making payments both online or offline, your debit, credit cards can easily takes care of that, which I think is also similar as using digital currency.

The situation for bitcoin usage is not going to change any time soon. In countries with stable economic people became used to cashless society principles and will continue to use credit/debit cards to make payments no matter what the current situation is. Whether it is pandemic or not, people are fine with current payment systems. In the countries with unstable situation, people are fine with bitcoin. Cashless society principles are not suitable there, because cash itself is worth nothing, its price fluctuates and inflates throughout a day. Bitcoin is essential part of their lives. Nothing has changed for them, bitcoin is still a means to store a value, it is still a way to transact freely, it is still a way to express an opinion, it is still a way to opt out.

The situation would help the digital currencies to increase their demand but it does not necessarily mean that it's going to be bitcoin or crypto currency.

People sees the risk in using bitcoin due to its volatile nature and people now are struggling financially so they can't avoid to take that risk.

Maybe in some industry like the gambling industry, I think crypto would be useful for online gambling as physical casinos have close months back.
The reason bitcoin does not struggle yet is because it's use as an investment and not as a currency for online transactions, fiat would still be the best option of the people as there's no risk in using it compared to bitcoin.

This is what we need right now, more transactions with the use of bitcoin. This will be a good way for bitcoin's mass adoption, it is not that easy to achieve it but I know this pandemic is a good time for it to happen. Physical money is not that safe right now, we all know that. We should explore other payment tools just like this bitcoin, there are a lot of currency that can be used as a payment tool. For me, I think the only thing that we lack is the support from other huge bitcoin users. This pandemic really bring a huge advantage and disadvantage to bitcoin, all of us are affected especially if you are holding a huge amount of bitcoin asset.

There are just lots of digital payment methods around other than cryptocurrency which they may not like for its unstable price. The most common still is paypal that every employer I found online uses it to pay. There is the growth of companies accepting Bitcoin when the pandemic started, the number of hosting companies accepting BTC are increasing.

In my own opinion, I think so since right now I tend to use more all of digital transactions rather than before when the quarantine hasn't yet started wherein I have to pay for loans physically but right now that the lending company has adapted it I don't have to worry anymore.

If we are just speaking about the spike of cashless transaction surely there's an increase but that doesn't mean people have forgotten fiat or tangible transactions; globally we are still into fiat.

PayPal is only advisable when using by company or business since there is no way that they will dispute the transaction. The only risk on using it is when you are dealing on P2P which is the majority of transaction. Bitcoin and other cryptocurrency are perfect for P2P due to irreversible transaction which ensures the safety of the other side. In the future, PayPal will be obsolete its more convenient to buy crypto rather than depositing on PayPal.

There is a lot of profit opportunity for crypto rather than PayPal.  :)

Yes using bitcoin for making transactions can be a good option to avoid human to human interaction as this virus transmits via physical contact. But the problem is that not many websites or companies are not accepting BTC as an alternated mode of payments but some accept. There are many other options which are already available for making payments like WeChat in China, Apple Pay, PayPal, Google Checkout and Amazon Pay etc which allow people to pay without using flat money. Using Bitcoin to make payments can be possible in future but right now people are preferring other methods.

I think yes, it intensifies the usage of bitcoin because most of us are now jobless and we font has something to do at our home, some people become more focused on exploring the crypto world and earning cryptocurrency or bitcoin. We are all required to stay at home and we are commonly using the bitcoin or other cryptocurrency for some online transactions such as hotel reservations, bill payments, etc that is why the bitcoin or other cryptocurrency becomes so much used because of this pandemic virus. Just like me, I become more focused on cryptocurrency because I am not busy and so much free as of now.

There might be some of the few people, but majority won't, considering the fact that there are a lot of options for cashless transactions, not everyone is aware of cryptocurrency (specially in my country), and most of the crypto enthusiast doesn't want to spend a single fraction of their Bitcoin.

Even If a lot of people discover Bitcoin amidst this lockdown, they won't use it to buy something anyway, instead they'll hold it like everyone of us is doing.

Honestly speaking, when we say adopting cashless transactions, it's more likely for the public to recognize cards or other digital payment methods compared to bitcoin or other cryptocurrencies. It's already hard for others to adapt to simple digital transaction method, what more with bitcoin.

Based on what I noticed here in my country during this pandemic, online transactions are starting to get more popular but it's only limited to those who have access to it. Most of the time, people are still dependent on paper money even though there's a threat of the virus since it's most convenient to use when buying things physically. If there is an increase in bitcoin usage, I think it's not that noticeable compared to other cashless payment methods since it requires further research and exploration before you can understand how it works.

Yes, because unfortunately there are limited merchants who accept bitcoin payment and we can only see them in few countries that's why we cannot see it more used in terms on essential transactions, But still there's a good thing happening with this pandemic since when people is at home for sure they find bitcoin as reliable currency and potential profit giver to the people who seeks an opportunity to earn. I see some of my fellow country men reaching out on it and provably they will explore this and find a good venture that will fit on their findings.

First of all bitcoin is not accepted worldwide yet. so pandemic or no pandemic it is fiat we are using. So for the answer it will only intensify when the world have maybe passed a bill, and top countries are now accepting it. but for now, No.

Even fiat can be used online. It’s going to take time for bitcoin to take over fiat. Why because a lot of people have to be educated to use bitcoin and is until bitcoin is accepted worldwide the Fiat currencies will still have an edge

This articles explain why people must invest in Bitcoin or Gold this pandemic and yeah i support this well.

https://www.cnbc.com/2020/05/21/why-you-shouldnt-invest-in-bitcoin-or-gold-during-coronavirus-crisis.html

Remember that Online Money is much safer than what fiat can do.

another good articles about such advantage of Bitcoin in this covid 19

https://www.kitco.com/news/2020-03-19/If-there-is-no-utility-in-bitcoin-then-why-not-just-hold-gold.html

people will continue to use fiat for the current pandemic but more to e-cash or electronic money, where we only make top-ups/deposits to an electronic money application in our country which only uses fiat pair of the country and we can shop or buy something only by using their application without leaving and without holding the physical money. Bitcoin is still rarely seen by laypeople, and there are very few shops here that open cryptocurrency payments. maybe because many laypeople do not know now but the existence of e-cash or electronic money can make the view that bitcoin can be a digital payment option like electronic money.

With this pandemic, i have seen more activity in the bitcoin casinos. Since people are working from home they will try to find a way to get an extra income, and bitcoin is that chance for them. So, the answer is yes. Se usage of bitcoin is higger now.

The fact that those who are using bitcoin for investment are already using it for ordering online since the pandemic virus are threatening them, avoiding the spread and the chance of being infected due to the fact that regular fiat can transfer the virus.
And with what you have said online casinos are benefiting since  there are lots of people who also tried some luck and gambled their money.

You are right that the Bitcoin coin was safer during the period of the spread of the virus and the home stone, as this currency is intangible and you cannot transmit the virus unlike the hard currencies, which is why many people have used the Bitcoin coin as it was their first experience of using these currencies. Very large by many people from different parts of the world and for this reason I see that the Corona virus had a positive role on cryptocurrencies and a lot of digital money has been used in addition to Bitcoin and for whom the greater percentage of use is due to cryptocurrencies

Maybe it was possible to other countries which bitcoin is already accepted and recognized by the government.But in our country, just a little percentage are using bitcoin as an alternative for payments online specially now that government has begun to implement a new normal which a lot of people can go back now to work and almost more than 50% of transportation are now operating.

FIAT is still the main payment method today. FIAT is not just physical cash, FIAT also has a digital currency which is currently more popular. The use of Bitcoin during this pandemic has indeed increased, but for intensive use in the needs of daily transactions is still not visible. The adoption of Bitcoin in several countries has different regulations, so it cannot be fully implemented.

Fully FIAT is still above Bitcoin and is still the main transaction at this time.

In today's time people are having a lot of options to pay digitally which are centralized as well and are certified as safe to use by the banks, but about bitcoin not every common people know. So they tend to go towards the things accepted by the masses and that is PayPal, gift cards and other digital payment methods instead of using cryptocurrencies.
But in future there will be a time when the world would be completely ruled by digital payments and there will be a cashless society.

I hope in near future Bitcoin will be a better alternative to fiat money, because in this pandemic era people just want to stay safe and want to maintain distance from each other, Actually there is no other way out of this epidemic without maintaining social distance. You know we have not yet discovered the vaccine. so, I think it is high time to promote BTC as the alternative of fiat money.  I think people will take BTC well because of this pandemic.

In my country Indonesia, the use of bitcoin is only allowed to trade commodity futures and may not be used as an official exchange for buying food, daily necessities and others.

The use of bitcoin does provide a new experience in conducting transactions, but transactions other than bitcoin that do not need to use cash are also available such as OVO, GOPAY and DANA. it is the third digital currency platform that is currently popular in Indonesia.

I have a question:

Imagine that a person does not have bitcoin, never used bitcoins, but that person is afraid to get a FIAT because he can get the virus. So how the hell is that person going to have bitcoin without leaving home? how is this person going to buy bitcoin without having money in the bank account? how did that person buy bitcoin without making KYC? And have you seen how high rates are when people buy bitcoin using a debit card?


I believe that most people should be looking for things like youtube, blog. because to earn money with bitcoin just by buying bitcoin and for that the person will have to go through some procedures like KYC and high fees when buying with debit card and hodl Is something else that takes time and if they are people who need money with some urgency they will prefer what I said before: create a blog or create a youtube channel to earn money

^ It is a good question though, not all the times we can use bitcoin as payment when there are various numbers of good alternatives than bitcoin.
So, therefore, my answer is no. Pandemic has not intensified the usage of bitcoin because they don't have any connection, bitcoin continues rising up amends the COVID 19 situation. That was obvious that the economic crisis and bitcoin or other cryptos have not any correlated in the downtrend when the COVID virus almost killed our economic growth and now we are in a recession. Nevertheless, we should be thankful even bitcoin is not commonly worldwide payment used in but at least it is good for investment, as a safe haven.

While my anecdote may not mean much, but I've noticed close friends/acquaintances talking about cryptocurrency more often than normal in the past few months. In general, I think people are losing faith in their governments over this crisis, so interest in decentralized currencies may just go hand-in-hand with the sentiment.