Will coronavirus encourage people to use crypto more thoroughly?

[tvplus006]

...I believe that it could be a win-win situation for Bitcoin and other cryptocurrencies in the Blockchain space. Unless governments decide to start rolling their digital currencies to the world, everything will remain likely the same as it is today.
...

I don 't understand why there is such a fuss about fiat money. I think that many people have credit cards , and accordingly, there is no need for such people to pay with fiat. Therefore, from the point of infection spread, there is no difference whether you will pay with a credit card or make a payment with cryptocurrency.

[fuer44]

yes, I also think with you that this is a "win-win" situation for crypto. it's not just a matter of online payment, comrade, but there are other aspects. while the corona virus forces people not to leave the house and physical contact to avoid rapid transmission, then in the case of work it will be reduced in terms of productivity. my point here is, the crypto market should be a solution to this problem. where working at home, and withdrawing can also be done at home. amid the stock market investment which also plummeted, even before corona attacked, this should indeed be a "win-win" situation for the crypto market.

Come on Crypto, get up

[Viscore]

I am not seeing that's going to happen, its not the pandemic that will drive adoption to crypto but the government regulation where they accept crypto and so people would trust it. Corona virus is a dangerous disease, but it will not stay forever, sooner or later, the vaccine will come out and people again will start using paper money as covid-19 will not be a big threat anymore with vaccine available.

[ethereumhunter]

...I believe that it could be a win-win situation for Bitcoin and other cryptocurrencies in the Blockchain space. Unless governments decide to start rolling their digital currencies to the world, everything will remain likely the same as it is today.
...

I don 't understand why there is such a fuss about fiat money. I think that many people have credit cards , and accordingly, there is no need for such people to pay with fiat. Therefore, from the point of infection spread, there is no difference whether you will pay with a credit card or make a payment with cryptocurrency.

That will happen in the country which many people have credit cards, but not all people in that country will have credit cards. People still use fiat, but in these situations, they will hard to pay use fiat because many of them are staying in their homes. We don't know how the virus will spread, but we can prevent with care, and we can reduce direct contact with other people.

[isaac_clarke22]

I am starting to think the majority of usage though just like you said. Thing is it is quite too late for it to happen right now, because some people would need to go outside to buy crypto, as some don't even have the access to credit cards. It might encourage some users, but those users like me if I just recently know about Bitcoin wouldn't be able to buy through credit cards.
Good thing I am already aboard the ship before this happened.

[mamesso]

Very good idea, but it will be very difficult to realize. because not all traders accept crypto exchanges. especially at a time like this. because corona outbreaks of economic turnover were totally paralyzed, even cryptocurrency was affected by the corona virus, To this day almost all coins are still bleeding.
For the time being, there are still many ways to spend money without directing contact with viruses, like using a credit and debit card, and it will really help to prevent contracting the corona virus.

[joinfree]

Nope, but at least it would open their minds to the fact that if breaking the chain of how the virus is spreading then digital currencies should surely be used in the coming days. I heard the issue about China actually disinfecting currencies that come to the banks before issuing it out to the people again. I believe this has even help control the spread because yesterday i heard Wuhan did not record any new case of COVID-19.

[SaidNurs]

This is one way to help improve current market conditions, if this happens then I think the market will soon stabilize because it switches to the digital way of crypto. This is very effective after the effects of a pandemic virus outbreak to quickly resolve current conditions.

[shoreno]

This is one way to help improve current market conditions, if this happens then I think the market will soon stabilize because it switches to the digital way of crypto. This is very effective after the effects of a pandemic virus outbreak to quickly resolve current conditions.

the market will not stabilize imo because cryptos are not stable  .also the virus is said the reason for the decline so how can you say it will be the way to improve it ?  and what you mean by resolving current condition ? related to the virus  ? well no crypto cant really do a thing to lessen the virus damage .

it cant solve or wont make the virus dissapear and all bring back to normal  but cryptos do also have thier own business and they can only solve those issues .

[ampere]

I do not think corona virus has encouraged people to use crypto curency more.
Facts predict that after the ban was off in south korea and india, there were several crypto investors and the market volume felt it greatly.

What i am referencing is that, even if there was no pandemic at all, we would have still used crypto currency thoroughly, its just a matter of time.

[Slow death]

Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts?

many people have already answered this question in this thread, I just want to add something that I noticed that nobody spoke. Well, since I am on the forum I see most people talking about Hold, this means that most people are looking at cryptocurrencies as a way to make a profit. it is clear that for most people in the crypto world, cryptocurrencies are investment and not currency. if you look at things from that point, then people will prefer to use Fiat to buy food and when the coronavirus situation is controlled they will think about investments. But if the whole community used cryptocurrencies as a means of payment, I believe the story would be different

[Vishnu.Reang]

If that was the case, then we would have never witnessed the prices crashing by 50%. From what I have understood, the cryptocurrencies will proliferate if the economy is in a good state. On the other hand, if we are having an economic meltdown (similar to the case that is happening right now), then similar to the other markets the cryptocurrency market will also get adversely affected.

[Shallow]

Am just hearing about this type of transmission associated with this virus, nevertheless I do not think it will make people to go for crypto. Although there are many people into crypto already but for newbies especially to get involved now due to this virus is a slim chance because most are focused on how to secure their lives and savings, and owing to the volatility in this space it might be a turn off. On the other hand, I would say that the current situation has made some people to go deep into crypto now so as to secure their funds since stock is not left out as well and Bitcoin most especially stands a good chance of recovery once everything settles down.

[Blackdeath]

It is really a fact that you can get infected with a corona virus if you have made contact with the things that was previously touch with an infected person, that is why physical money or fiat currency is one of the common ways that can be touch by an infected person. So using cryptocurrency is the bestest solution for you not to make any contact or get in touch to different people because you can be able to pay in any stores through online.

[Goodvalony]

Although this is a great opportunity to showcase the strength and unique difference between crypto and fiat currencies, The government and central banks are fighting harder to strengthen the fiat money. Recently, various countries around the world has dolled out money to support the economy of their country to avoid high deflection and poverty raise. such ways will continue to strength fiat usage over cryptocurrency.
Crypto needs more awareness and adoption.

[julius caesar]

I've seen somewhere across the web, that China has been taking measures to protect physical banknotes/bills from getting infected with the coronavirus. After all, it's said that the virus could be transmitted across physical cash in circulation from one person to another. If the trend continues, people will look for other ways to spend their money safely without having direct contact with the virus. In this regard, digital payments prove to be a winner when it comes to sending/receiving money without exposing yourself to physical banknotes/bills that have could've been contaminated with the coronavirus. I believe that it could be a win-win situation for Bitcoin and other cryptocurrencies in the Blockchain space. Unless governments decide to start rolling their digital currencies to the world, everything will remain likely the same as it is today.

Do you think that the recent situation will encourage people to use (or rely) on crypto more thoroughly? What are your thoughts?

Almost all of the countries are trying to promote the usage of Digital Currency since they are some people says that the virus can be transmitted through bank notes which is very alarming. We must look for a better way on how are we going to transact safely and the usage of digital currency is the best answer into it. So, while there is no cure yet in corona virus, you better use digital currency for transacting.

[Teawhalee]

At this time it won't. People could transfer the virus through bani notes from one hand to another but now people are more cautioned to wash their hands and sanitize it after handling cash notes . So it's not yet a scenario for crypto to take over .

[Bohr256]

No, look at the current trend. It's probably going to get worse.

[nelson4lov]

No, look at the current trend. It's probably going to get worse.

What trend? As far as I know the recent trend has been bullish so you might want to check for more up to date content.  While we don't know where the market is currently headed, I have a feeling that normalcy will return to world markets including the crypto market. It's no doubt that Cryptos can play a vital role in the case of a global pandemic as this just that people are just too scared to leave their investments.

[Crypto5060]

People don't care about anything as we saw with how the market crashed. If coronavirus isn't taken care of crypto and other financial investments will continue to take a hit.