Is Covid-19 carrying the growth in digital currencies?

[davis196]

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

Are we living in 2020?Last year,the forum was full with users asking the same question multiple times.
Will the pandemic boost digital currencies?Well,there's no simple answer to your question,OP.
What do you mean by "digital currencies"?Paypal,Cashapp,Venmo,or cryptocurrencies?
They are not the came.You will have to learn to distinguish them.
To be honest,I don't have enough statistical data to answer your question.

[Vaskiy]

This pandemic is just one part of it so I don't think that it is right to say that the pandemic is the only reason for the growth of cryptocurrencies. Maybe it did contribute big time since the lockdown to prevent the spread in the pandemic made people go online more ofthen than usual and they will probably encounter them on their online escapades.

Agreed, due to the pandemic almost everything has begun to operate through internet. This has made people explore the internet much than the regular time. Another thing earning, people are jobless and are in need of money. This is also a reason why people got into cryptomarket. In my view, if there is no lockdown the spread could've happened even worse. Same time the spread about cryptocurrencies might've not happened as what we experience at the moment.

[bittraffic]

This pandemic is just one part of it so I don't think that it is right to say that the pandemic is the only reason for the growth of cryptocurrencies. Maybe it did contribute big time since the lockdown to prevent the spread in the pandemic made people go online more ofthen than usual and they will probably encounter them on their online escapades.

Agreed, due to the pandemic almost everything has begun to operate through internet. This has made people explore the internet much than the regular time. Another thing earning, people are jobless and are in need of money. This is also a reason why people got into cryptomarket. In my view, if there is no lockdown the spread could've happened even worse. Same time the spread about cryptocurrencies might've not happened as what we experience at the moment.

There are already digital currencies before Bitcoin and before the pandemic so are already people using digital currencies but when the pandemic came, more people are up to use it so they could avoid holding banknotes that are blamed to be spreading the virus.  

Bitcoin so far isn't still attractive even being one of the digital currencies because it's not easy to buy BTC. The use of cashapp increased though.

[lienfaye]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

[awik p]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

[michellee]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

If bitcoin can get a bull run, it can get more attention from people and see that bitcoin can be their new investment besides gold. It can attract them to start investing in bitcoin so they can take benefits from bitcoin. What happens to bitcoin in the last ATH makes many people open their eyes that bitcoin can reach that high price. But bitcoin is not yet become a new payment system because that will be related to government approval. But in the future, bitcoin and the other coin can be the next digital payment system.

[el kaka22]

The fact is that there were tons of people who had chance to meet with crypto for the first time. They heard about it, and they knew about it but they didn't put any money in it, this pandemic period allowed a lot more people to go into crypto, google trends broke records, there are now more people involved in crypto than any other time in history, so I do understand why people are making a big deal out of this, however the reality is that we are talking about a positive that impacted the price as well, that is the most important part.

During the march of 2020 when the price went low, it went under 4 thousand dollars, when we reached our peak it was 64 thousand dollars, so between march 2020 low to our peak that is over 16 times the increase, that is not something we could have done without the pandemic, and I believe we will probably never have that type of increase ever again. Sure we will have increases but not as much as x16 increase, not anymore.

[Oasisman]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

This explains well.
Digital payments has already been done by most of the first world countries, and even in the 3rd world countries way before the pandemic.
The only reason why Bitcoin becomes more popular during lockdown is because people are actually looking for income through the internet.
The only people who are using Bitcoin as a medium of exchange are those early adopters and Bitcoin supporters, and there are only a few of them. The rest is just investors who considered Bitcoin as a store of value.

[iv4n]

The fact is that there were tons of people who had chance to meet with crypto for the first time. They heard about it, and they knew about it but they didn't put any money in it, this pandemic period allowed a lot more people to go into crypto, google trends broke records, there are now more people involved in crypto than any other time in history, so I do understand why people are making a big deal out of this, however the reality is that we are talking about a positive that impacted the price as well, that is the most important part.

During the march of 2020 when the price went low, it went under 4 thousand dollars, when we reached our peak it was 64 thousand dollars, so between march 2020 low to our peak that is over 16 times the increase, that is not something we could have done without the pandemic, and I believe we will probably never have that type of increase ever again. Sure we will have increases but not as much as x16 increase, not anymore.

One more fact, many people had a lot of free time for the first time in many years, with one little catch, you must spend your free time inside your home! As expected, many people started to spend more time on the internet, to discover new things and ways for earning some money, making investments, or just for fun!

Your math is simple and easy to understand El kaka! We will never see Bitcoin rising hundred and thousand of percent again as it happened in 2012! So I guess it will be hard to see x16 again.... but, if we see only x10 from this price, the next ride can take Bitcoin to $300k!

[Yamifoud]

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

It was pretty obvious that it helps a lot for digital adoption, not only in crypto but also in some digital systems.
Maybe we could say it was a blessing in disguise because as the Covid-19 arrives we have noticed a massive adoption to the digital world. I don't how it's going but it was to believe that crypto especially Bitcoin simplified some of our works which is the highlight of its existence. But we don't know what will happen next when the crisis ends and we're not sure if people are still using Bitcoin.

[Smitty Werben Man Jensen]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

If bitcoin can get a bull run, it can get more attention from people and see that bitcoin can be their new investment besides gold. It can attract them to start investing in bitcoin so they can take benefits from bitcoin. What happens to bitcoin in the last ATH makes many people open their eyes that bitcoin can reach that high price. But bitcoin is not yet become a new payment system because that will be related to government approval. But in the future, bitcoin and the other coin can be the next digital payment system.

Even if you see until now it seems that more and more people are investing in cryptocurrencies, especially bitcoin,
especially seeing the price of bitcoin from year to year is increasing, of course this makes many people interested in investing,
I really hope bitcoin can soon become a legal payment system even though it's not easy

[Renampun]

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

from what I see on online news sites, it shows transactions with digital currencies are growing rapidly...

This pandemic pushes us to accelerate digital transformation, the entire world's population is faced with the worries of this pandemic which is still unresolved. surely this year the habit will grow bigger.

[fullhdpixel]

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

It's not just a belief but a fact that covid-19 has increased the adoption of digital payments which include crypto, online shopping, and all such transactions. It is unfortunate that we were forced to change the traditional ways of payments but it was the need of the hour and now that everyone has got the knack of online transactions, there is no looking backward from here.

There are some advantages and problems that will arise but with time we can eliminate problems and the benefits will shine. I heard that online fraud has increased in some countries because there are shopping sites that will ask for your card details and sell them to carders who will then exploit your card and clean it.

[SaShiRaJaVu]

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

The pandemic and the lock downs are a reason why there are more eyes in the cryptocurrency market space. Usually people are busy with their work schedule and they do not get the time to look into the market nor do they have the time to learn more about it. But the pandemic has given everyone a lot of time to work and study as there are no other activities that can be done and hence there are many who entered the market in the last one year.

[perryxi2]

Bitcoin's boom thanks to the Covid 19 pandemic is also part, because of the epidemic, people rarely go out and most of the services are paid online, so it can be seen that there are more and more companies today. A service company that provides online blockchain solutions for remote delivery to customers.

[ampu]

The adoption of cashless payments is becoming a hot topic during the pandemic. The use of cashless happened in China 5 years ago when people in big cities used Alipay, QQ to pay via QR code.
The use of cashless payments helps the economy save a lot of time and transaction costs. Asian countries such as Korea, Japan, Singapore, Vietnam, Malaysia... are also gradually popularizing non-cash payments.
I think the cashless trend will be the future of the economy. The pandemic is a stepping stone to faster cashless payments.

[Yatsan]

The current pandemic we are experiencing have brought us from traditional getting into digital and modernized way of living for the reason that people are finding alternative ways possible on continuing their lives without getting in contact with one another. Since many are getting paranoid and taking tight protection to avoid or get rid of the virus, many have switched or adapted into using digital/cashless payments to still be able to purchase goods and services nowadays. With such reason, we can say that this pandemic have carry out using cashless payments options which can include usage of Bitcoin if available to be used on merchant stores. But the adaption of people into it are mostly not to use it for payment but as for investment due to rising value even at the age of pandemic that crashes the stock market.

[michellee]

Even before this pandemic happened, digital payments are already popular here however it doesnt mean crypto is the first option for this. Online bank applications, paypal and other platforms are some of the preferred option when making a transactions online.

Crypto get the attention of many people during pandemic not as an alternative for digital payments but rather an investment opportunity wherein we can earn money due to volatility. Its a fact that crypto or btc specifically are best known as an investment, an speculative asset which can give investors huge gains when the market is bullish.

right, cryptocurrencies are becoming more popular because of the bulls. especially when it happened while the pandemic was still ongoing. this may have something to do with the pandemic and the bullrun, considering that many people want to make money while staying at home

If bitcoin can get a bull run, it can get more attention from people and see that bitcoin can be their new investment besides gold. It can attract them to start investing in bitcoin so they can take benefits from bitcoin. What happens to bitcoin in the last ATH makes many people open their eyes that bitcoin can reach that high price. But bitcoin is not yet become a new payment system because that will be related to government approval. But in the future, bitcoin and the other coin can be the next digital payment system.

Even if you see until now it seems that more and more people are investing in cryptocurrencies, especially bitcoin,
especially seeing the price of bitcoin from year to year is increasing, of course this makes many people interested in investing,
I really hope bitcoin can soon become a legal payment system even though it's not easy

People should wait for a while as the bitcoin price now is down. If they can buy bitcoin at a low price, that will be good for them as they only need to hold it until the price increase again. We hope that someday, the government can allow bitcoin to be used as a legal payment instead of using fiat, credit card, or debit card to have more options to pay. But if that really needs a long time before the government accepts bitcoin, people can still use bitcoin for the investment, which can be profitable for them in making money.

[sapnu]

As a result of Covid -19, in payment preferences, Many companies and authorities around the world are increasingly looking at digital currencies as an alternative way to make transactions in digitalized world. So guys what do you think about ? How will be easy the day today life after adopting for digital currencies?

As we experience this never ending pandemic, we've seen how much crypto has grown for the price. During the beginning of Covid, just after a few month bitcoin made a bull run that exceeded everyone's expectation. Although we cannot fully credit it all to the current pandemic, it still made a huge impact on making crypto more well-known all over the world as payments using physical money became unideal since we are trying to avoid the passing of the virus. There has been a lot of investment and payment made with the use of digital currency even up until now which makes it look like we are on the transition of having crypto over fiat already.

[inoes]

Covid really brings changes and influences on digital currency in the world. we can feel now, the world is undergoing a transformation accelerated by technological assistance to enter the era of financial 4.0 or open banking. The COVID-19 pandemic has accelerated digital adoption, such as the use of digital banking. The adoption of online and mobile banking has experienced very high growth in recent months. Meanwhile, the presence at bank branches and the use of ATMs are decreasing. and crypto? The altseason has occurred as a form that public awareness of crypto is high.