Role of the crypto in the incoming global crisis

[ViralNation]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

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[KTChampions]

Playing safe is not the right term in the crypto investing, at least the safest altcoin is riskier than the risky stock share in the global stock market. Top cryptocurrencies will not have the same profitability during the bull market and the trading ability of such altcoins is not better than low marketcap altcoins. I will invest half in the low marketcap, promising, legit altcoins and hold another half for investing in the top safest altcoins.

But bitcoin was created as a protective tool against inflation (and therefore any crisis) is not it? I am very surprised at the diversity of opinions on this issue. It would seem that the community should think in the same way on issues of principle, but I constantly hear opposing opinions even on the simplest questions.

[ViralNation]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

That would always have been the case, honestly, with or without the global crisis. The crisis affects everyone for sure, but especially in developed countries people get shocked the most. I only would say poverty populations in Asia and Africa get the worst shocks, and when they bounce back, it is the upper class who benefit, not the poor.

Not necesarily. While the upper class benefit , you have to consider coins like Creditcoin will be made for adoption by the poor. As there are more poor than rich we will see wider adoption than just a coin targetting the rich.

[inoes]

What do you expect will be the role of bitcoin and altcoin in the upcoming global economic crisis?
i mean i read on several sites that the only way to face the next economic crisis will be to freeze and withdraw some amount of private equities.
In your opinion will this lead to a massive adoption of crypto? given the fact that they are unseizable and in the end bitcoin was born right to face the crisis of the global market of the 2008?
If so what is the best altcoin to buy and hold for the next five years?

You already stated that bitcoin was born to face the crisis in the global market therefore it is the best altcoin to buy and hold for the next five years base on your statement. But with regards to economic crisis and role of crypto, I still don't know whether crypto can solve this crisis.

But right now if I am going to stock a currency that I am going to hold for at least five years then I will surely choose the top 5 currencies as I want to play safe and the top 5 currency will not collapse that easily so I can assure that my investment will not be lost.

Playing safe is not the right term in the crypto investing, at least the safest altcoin is riskier than the risky stock share in the global stock market. Top cryptocurrencies will not have the same profitability during the bull market and the trading ability of such altcoins is not better than low marketcap altcoins. I will invest half in the low marketcap, promising, legit altcoins and hold another half for investing in the top safest altcoins.

All that is just a matter of how to secure assets in an atmosphere of economic crisis. but I am more amenable to securing an asset to be the top altcoin which has high marketcap, because of its potential existence is more recognized and makes the coin has a price. I think it's safer. I prefer to prioritize asset security.

[hulla]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

That would always have been the case, honestly, with or without the global crisis. The crisis affects everyone for sure, but especially in developed countries people get shocked the most. I only would say poverty populations in Asia and Africa get the worst shocks, and when they bounce back, it is the upper class who benefit, not the poor.

Not necesarily. While the upper class benefit , you have to consider coins like Creditcoin will be made for adoption by the poor. As there are more poor than rich we will see wider adoption than just a coin targetting the rich.

Slaman29, was absolutely right because the middle class and the poor are one who suffer the most while rich getting richer. However, the coin you mention was not the only project to offer this kind of services and i didnt see any solution they have to offer to the masses during global crises than to increase their debt.

[Rosilito]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

That would always have been the case, honestly, with or without the global crisis. The crisis affects everyone for sure, but especially in developed countries people get shocked the most. I only would say poverty populations in Asia and Africa get the worst shocks, and when they bounce back, it is the upper class who benefit, not the poor.

Not necesarily. While the upper class benefit , you have to consider coins like Creditcoin will be made for adoption by the poor. As there are more poor than rich we will see wider adoption than just a coin targetting the rich.

Slaman29, was absolutely right because the middle class and the poor are one who suffer the most while rich getting richer. However, the coin you mention was not the only project to offer this kind of services and i didnt see any solution they have to offer to the masses during global crises than to increase their debt.

Agree, man. CreditCoin to poor people? In this time of crisis were totally totally wrong, IMO, those people/family are the one who suffers the most, and the one who needs more assistance than debts. Lending them money won't bring any good in a long term basis other than a temporary benefit. I am not against CC but the timing and borrower (let us say) isn't fit with it. And one thing more, solving problems/suffering by borrowed money is way worse than staying broke 'cause it will just make you suffer more specially if you have nothing to repay with.

[Sanitough]

Agree, man. CreditCoin to poor people? In this time of crisis were totally totally wrong, IMO, those people/family are the one who suffers the most, and the one who needs more assistance than debts. Lending them money won't bring any good in a long term basis other than a temporary benefit. I am not against CC but the timing and borrower (let us say) isn't fit with it. And one thing more, solving problems/suffering by borrowed money is way worse than staying broke 'cause it will just make you suffer more specially if you have nothing to repay with.

If there is an assistance from the government or a private sector, we know it would not be enough for poor countries.
In the Philippines alone, people will only receive more or less $150 assistance from the government for two months of under quarantine, that's the budget the government has allocate, and sadly until now it was not yet distributed.

now, if there is a platform and that is available for us, I think we can borrow but that is only the 2nd option, and at least we have a lot of options now.

[jahepahit]

the problem now is not like what happened in 2008 ago. The problem now is not because of people's trust in banks, but the problem now is due to the presence of disease. if you ask calm down good coins for the next 5 years, my answer remains on bitcoin and ethereum for sure
 

[ViralNation]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

That would always have been the case, honestly, with or without the global crisis. The crisis affects everyone for sure, but especially in developed countries people get shocked the most. I only would say poverty populations in Asia and Africa get the worst shocks, and when they bounce back, it is the upper class who benefit, not the poor.

Not necesarily. While the upper class benefit , you have to consider coins like Creditcoin will be made for adoption by the poor. As there are more poor than rich we will see wider adoption than just a coin targetting the rich.

Slaman29, was absolutely right because the middle class and the poor are one who suffer the most while rich getting richer. However, the coin you mention was not the only project to offer this kind of services and i didnt see any solution they have to offer to the masses during global crises than to increase their debt.

The problem it is solving for the masses is offering a decentralized solution for credit history utilizing blockchain technology. Think of a farmer in Nigeria that needs to buy a goat but is unable to get a microloan due to a lack of history. Creditcoin is solving this issue and is partnering directly with microlenders in Nigeria in order to ensure that the poor and unbanked are able to access financial services.

[TheGreatPython]

There are different types of speculations are going on right now with respect to how this crypto world is going to react against the upcoming global economic crisis. I am sure crypto will become more attractive when economic slowdown happening because people will not choose stocks or commodities for good returns for their capital but they will start looking into alternative investments so that they will get more returns for any given time frame.

Please remember that cryptos have been proved as one of the highly profitable alternative investment type. So, we can expect more number of investors will be turning into crypto investments. This will make bitcoin to be testing any big levels which could be even $100k too and altcoins may increase in equal ratio as well because investors will invest into altcoins also for diversification reasons.

[TheAndy500]

the problem now is not like what happened in 2008 ago. The problem now is not because of people's trust in banks, but the problem now is due to the presence of disease. if you ask calm down good coins for the next 5 years, my answer remains on bitcoin and ethereum for sure
 

I think that at this point people have even more reasons not to trust banks. The crisis that is coming may turn out to be catastrophic for banks around the world, as well as for saving that people hold in them. I think the crisis of the world economy that is coming is a huge opportunity for cryptocurrencies. If people don't see it this year, I hope it will happen next year and we'll see another bull run.

[Twinkledoe]

the problem now is not like what happened in 2008 ago. The problem now is not because of people's trust in banks, but the problem now is due to the presence of disease. if you ask calm down good coins for the next 5 years, my answer remains on bitcoin and ethereum for sure

Crypto market is still very few participants and not much influence on this world so it takes more time for people to learn more.

I am sure that in the next 10 years, the investment demand here will increase significantly because this is a good time for people to invest and covid-19 is creating conditions for people to spend time to learn about this market. Of course, investment is always risky and no one can predict what will happen next.

A lot of people may be searching about bitcoin right now, but only few of them might really turn to be a crypto user. But will already be good in terms of btc adoption. They might not invest during this pandemic, but I think they will look at crypto as another option for their future investments. What they will be worried about for newcomers is the volatility of crypto in the market. Since they are new, they don't have the full grasp of what's going on in crypto, so it would really take time for them to fully understand how crypto works.

[ViralNation]

Long term we will see huge growth in emerging markets such as in Africa and across Asia once we recover from the global crisis.

Fintech projects such as CreditCoin are already building an infrastructure to play a major role in the growth of financial systems across emerging economies, and  it is exciting to see what is in store.

That would always have been the case, honestly, with or without the global crisis. The crisis affects everyone for sure, but especially in developed countries people get shocked the most. I only would say poverty populations in Asia and Africa get the worst shocks, and when they bounce back, it is the upper class who benefit, not the poor.

https://businessday.ng/technology/article/aella-partners-hygeia-to-include-95-nigerians-outside-health-insurance/

Take a look at this article.

Creditcoin is working to benefit the poor with Aella Care, basically using blockchain technology to provide affordable health insurance to over 200 million uninsured Nigerians.

This would make it the largest DAPP in terms of users and the largest blockchain product

no wonder Coinbase and Y combinator invested

[Arkann]

Personally, I am very positive about the use of cryptocurrency in everyday life, especially Bitcoin, and I also believe that the most important advantage of bitcoin is its limited amount, which makes it possible to preserve the value of each person’s financial savings.  if Bitcoin will be used by as many people as possible as a means of payment, then governments will not be able to influence their people, creating artificial inflation by increasing the number of paper banknotes.  but the fact is that cryptocurrency is distributed among people very poorly and many people will not be able to use it in everyday life for at least a few more years.  but the use of cryptocurrencies in business can take the economy of some countries to a new level and, accordingly, create new conditions for international trade and other financial relations.

[leea-1334]

Ledu is a bad project. The role of crypto has already mentioned in some articles when people were looking for an alternative way. As far as i know if crypto brings a very easy way to do a transaction for people to people or people to service.
So many countries slowly adopting crypto as a secondary payment system and you can see how the chart has told us if the demand for crypto especially for bitcoin and stable coin keeps increase

What is not a bad project these days when it comes to crypto? Or rather, what does not start out as good with nice dreams and promises,,, and then turns out to be crap? What do they all have in common? An unrealistic team, unrealistic investors who are all thinking they can make easy money by dumping on other speculators.

[samcrypto]

Ledu is a bad project. The role of crypto has already mentioned in some articles when people were looking for an alternative way. As far as i know if crypto brings a very easy way to do a transaction for people to people or people to service.
So many countries slowly adopting crypto as a secondary payment system and you can see how the chart has told us if the demand for crypto especially for bitcoin and stable coin keeps increase

What is not a bad project these days when it comes to crypto? Or rather, what does not start out as good with nice dreams and promises,,, and then turns out to be crap? What do they all have in common? An unrealistic team, unrealistic investors who are all thinking they can make easy money by dumping on other speculators.

Stay away from that unrealistic project because that is not the role of crypto though scammers are all over the market I still believe for the purpose of cryptocurrency. On a time like this, easy money won’t work because we should put money on a more established coins, that can be more safe during the global crisis.

[Synaesthesia]

the problem now is not like what happened in 2008 ago. The problem now is not because of people's trust in banks, but the problem now is due to the presence of disease. if you ask calm down good coins for the next 5 years, my answer remains on bitcoin and ethereum for sure

Now covid-19 is a topic of great interest during this time and this will certainly greatly affect the economy here. In the crypto market, many new projects are delayed for a long time and the demand for investment in this market is not as much as before, so there are many risks when choosing to invest. Of course this market is still an attractive destination for everyone but must think carefully before making a decision.