The Role of Cryptocurrencies in Pandemic Times

[Argoo]

Crypto currencies will pay important role either there is a pandemic or not; i say this because crypto currency serve as a means of payment; and it is presently being adopted to cushion and put under control the pandemic i.e if you use crypto currency tokens for payment of service; there will be no exchange of fiats; which could spread the covid19 pandemic. It doesn't have to be the token you are shilling, it can be etherum, litecoin , tron or xlm

The coronavirus pandemic has pushed people to study and use cryptocurrency. Temporary severe restrictions on movement and visiting public places changed our usual way of life and forced us to do things that we simply could not get our hands on.
At the same time, cryptocurrency has become a safe haven for people's savings from the rising inflation of conventional currencies. Therefore, the cryptocurrency began to grow rapidly in price and be in demand.

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[cryptoknightt]

defi is the main project that was seeded when this pandemic because it concerns the global economy.
and defi to be a solution although I'm not sure it can solve the problem entirely.
projects that have superior potential in this situation should be better looked at.

[Twinkledoe]

This epidemic has certainly increased the awareness and adoption of cryptos more than ever before. The volatility of the crypto market makes it clear that people are ready to invest or have started investing in cryptocurrencies.
It also forces people to accept the fact that cryptocurrencies are not only dark, illegal or tax evading but also more widespread. I see more and more companies pop up and offer different DeFI services, whose choices in 2019 were unimaginable.
So crypto played a very important and crucial role in the epidemic. And I agree with everyone else that the future lies in DeFI

I believe a lot of noncrypto users educate themselves regarding crypto during this pandemic period. Yes, many are hesitant to touch crypto because of their negative perception towards crypto. But with the knowledge they have now, I believe some changed their perspective on btc or crypto. Indeed, this crisis actually brought positive impact in crypto in general. Look at how much the btc is valued and compare it before the pandemic.

[MCobian]

For me, cryptocurrency is a savior in a pandemic situation like now, where all countries are experiencing economic crisis. And also almost all assets
have decreased in price in a pandemic situation like now, but cryptocurrency is very different from other assets. After the crypto price fell in March 2020,
it didn't take long before the crypto price started to recover. Even some DeFi pump in 2020, then at the end of 2020 all coins began to be pumped
following the Bitcoin price which continued to rise dramatically until the beginning of 2021. So I don't regret saving my money in crypto. Now I can
start reaping the rewards.

[SacriFries11]

I believe a lot of noncrypto users educate themselves regarding crypto during this pandemic period. Yes, many are hesitant to touch crypto because of their negative perception towards crypto. But with the knowledge they have now, I believe some changed their perspective on btc or crypto. Indeed, this crisis actually brought positive impact in crypto in general. Look at how much the btc is valued and compare it before the pandemic.

Yes, you're right. It's allow people to go with cryptocurrencies while they been lockdown. They find a way to earn money while they lose their job because of the pandemic. They learn that there's future in cryptocurrency. I'm sure that those people already invest after they have learn money after they back to their respective works. Yes, there's positive impact in crypto, the price during the beginning of the pandemic didn't not turn down but it pump during these times. Crypto helps holders when the time that they have enough money in their pockets.

[ahoenk]

To be honest cryptocurrencies at first created is not for speculation, it is vision is for making money is real money, no inflation or what so ever, i believe DeGi is the next banking but you still need to wory about scam DeFi project out there.

[MWesterweele]

It is due to the pandemic times crypto is gaining 100s of 1000s of more users than ever it could. New people are investing their money on crypto as they find it convenient enough to do everything from their homes.

The role of cryptocurrencies in these times is really important for the people who want to work from their homes as they could deal using cryptos for less fess and faster transfer speeds. Cryptos are saving many business from getting bankrupt in this pandemic period, and they are helping humans problems way better than other things.

Though pandemic brought drought to every human being, increased unemployment rate and caused economic crisis to every country, death and sickness but despite of these we couldn't deny that these pandemic also promotes positive outcome for cryptocurrency. Pandemic was considered as a beneficial factor for the cryptocurrency especially bitcoin. Who would've thought that bitcoin will attain its new ATH at the middle of these pandemic right.

[milani]

This pandemic period is very detrimental for all of us, especially financial problems. Luckily I have been working on #Crypto since 2017 and this year I found EquilibriumDeFi to boost my finances.
Regarding the details of EquilibriumDeFi you can see it on their official twitter https://twitter.com/EquilibriumDeFi

How about your experience?

Pandemic situation had a great impact on the whole planet, lots of services and systems, people's way of thinking and ways on working, studying and cooperations. This situation made lots of new comers to be ingaged in crypto for the first time in their lives, and for those who in crypto for a long time to be more ingaged more than in previous years. It is good that the situation on the crypto market are not like in 2018-2019 for example and there are new opportunities in new projects and DeFi direction for acting. And something tells me that the world will not be the same again. We are moving into new pages of history.

[empress777]

I believe overall the pandemic will bring more people into crypto; but we're only now seeing the beginnings of this. In my opinion it's not only because more people are working from home / online which automatically boosts everything that's primarily online. Social Media has been hopping since the pandemic began, more so that usual as people crave their connections with others. While most people haven't consciously put two and two together yet in regards to the economy and Crypto they're getting there. Fiat money has to be handled; it's physical and thus it could potentially pass COVID along. I have a feeling this connection is being made subconsciously by many people in the COVID era. Not everyone can invest right now as money is tight for many people, yet once the pandemic lifts and money starts flowing again -- I imagine Crypto will do even better than it is now.  Especially as it's decentralized crypto has an advantage over many other things, since we've seen incrementally the lag or failure of many centralized and traditional systems that couldn't deal with the pandemic.

[Review Master]

Even small income during lockdown seemed to be a great piece of luck. Trading crypto (despite losses) gave that income.

Instead of sadness, pandemic gives more opportunities to those people who lose their jobs and enter into crypto market for extra source of happiness. Some of my well known persons enter into these market at the begining of this pandemic and no doubt, they're happier than their previous life with 9 to 4 job schedule. On the other hand, some get themselves into fomo and get proper knowledge about this market after losing some bucks.

[isaac_clarke22]

~

Not really caring about that Defi Project you mentioned in the OP, still Bitcoin handled it all for me.
Though in reality I don't really depend on crypto that much as my remote job outside crypto still becomes the main source of income for me, and earnings from investing BTCs is just the side of the dish.

[jan.nicolas]

The role of cryptocurrencies is only growing during the pandemic. In a few years, I think that many people will not accept cryptocurrencies for something new. This time will come very soon.

[Arkann]

This epidemic has certainly increased the awareness and adoption of cryptos more than ever before. The volatility of the crypto market makes it clear that people are ready to invest or have started investing in cryptocurrencies.
It also forces people to accept the fact that cryptocurrencies are not only dark, illegal or tax evading but also more widespread. I see more and more companies pop up and offer different DeFI services, whose choices in 2019 were unimaginable.
So crypto played a very important and crucial role in the epidemic. And I agree with everyone else that the future lies in DeFI

I believe that it was the pandemic that influenced the development of the cryptocurrency market more than the cryptocurrency on the pandemic. The fact is that in conditions of isolation, people began to study and understand cryptocurrency more, as well as invest their funds in cryptocurrencies, saving them from depreciation of national currencies, as well as more familiar assets.

[Antlia Protocol]

This epidemic has certainly increased the awareness and adoption of cryptos more than ever before. The volatility of the crypto market makes it clear that people are ready to invest or have started investing in cryptocurrencies.
It also forces people to accept the fact that cryptocurrencies are not only dark, illegal or tax evading but also more widespread. I see more and more companies pop up and offer different DeFI services, whose choices in 2019 were unimaginable.
So crypto played a very important and crucial role in the epidemic. And I agree with everyone else that the future lies in DeFI

I believe that it was the pandemic that influenced the development of the cryptocurrency market more than the cryptocurrency on the pandemic. The fact is that in conditions of isolation, people began to study and understand cryptocurrency more, as well as invest their funds in cryptocurrencies, saving them from depreciation of national currencies, as well as more familiar assets.

I agree and the pandemic has sped the defi ecosystem as well. Now people are more interested in sending peer-to-peer transactions and cutting the banks and other institutes in the middle. And financial institutes are aware of this change that is why they are widely accepting and investing in developing cryptos.

[sana54210]

I agree and the pandemic has sped the defi ecosystem as well. Now people are more interested in sending peer-to-peer transactions and cutting the banks and other institutes in the middle. And financial institutes are aware of this change that is why they are widely accepting and investing in developing cryptos.

I think the reason why bitcoin was so popularized was the fact that we started to hate these big banks and wealthy people, that is honestly what I believe was the cause why bitcoin and all crypto became so popular, which means that eventually that grew bigger and bigger, look at 2020 for example while the amazons and apples of the world grew so big, and while tesla made so much money, the world was in poverty and hunger and was dying in millions.

Hence why I believe defi was liked even more, why? Because in most other coins there were "teams" behind it, and with defi it is totally decentralized and gives the whole power to people, or at least more power than other coins. Which is why I believe over course of years we are going to see top 10 filled with many many defi coins and only a few non-defi coins will be there like bitcoin or ethereum or bnb.

[cryptoknightt]

Pandemic has a negative impact on all aspects. But for me crypto doesn't feel that, even crypto has a greater chance during this pandemic, all people's activities in the world have been narrowed down because of the pandemic, this makes crypto a more exchange rate where conventional banks are now in a bad state due to the world economy. And my finances improved through the Staking event. I am very helped by crypto.

[aakay]

Alot of things have changed since the pandemic. I have been spending alot of time on the internet looking for an alternative means of making some bucks. And i must say cryptocurrency has been very helpful. Am just speaking for myself though

[int03h]

The pandemic stopped economic activities and the cash flow from securities investment, business investment actually began to shift to another store of value.
Cryptocurrencies act as a new store of value similar to gold and silver, so money flows into cryptocurrencies during the pandemic.
That is the main reason why the crypto market has exploded in the past year.

[Cadaver20]

Pandemic has had a very negative impact on our lives. Many are now at home due to job loss or lock down. Our income source is closing down but spending is increasing. In such a situation, our life has become very difficult. Like you, I'm lucky to be involved with crypto and have been able to make some money from home during these difficult times. In this pandemic situation crypto has given me enough support so far I have not had any financial problems.

[dezoel]

I have to say the biggest one for me was the capability of earning money at home without needing to go to work. I have always been a freelancer in the crypto world and made my money that way, which was already something I loved because I didn't had to leave my home and that is awesome as it is. Now that pandemic happened, for the past 1+ year it has become even better, more and more people work at home of course but I was doing it before anyone else and I feel lucky.

Secondly being global, in a world where pandemic impacted every nation, being able to work with everyone around the world instead of only the people around you is a big deal, most people work with people in their town, or city or even state but I get to work with people all around the world.

And most importantly, the ability to actually earn a decent income, I may not be a rich person, but I had faced with countless non-covid sickness this year and many bad things, I was capable of paying them all, I failed to save a decent amount of money but at least I am not in debt and that is a great feeling, paying all those emergency stuff and not be in debt is blissful to me.