Is Covid-19 carrying the growth in digital currencies?

[Leviathan.007]

The reason for growth of the price in cryptocurrencies was never the covid-19 or vaccine and the reason for the recent price fall was not related to this crisis, covid-19 didn't help bitcoin to rise so this can make it fall. However, during the breakout of covid-19 since people had to stay at home and do everything online, they started to know more about bitcoin and the other cryptocurrencies and this can be an small reason for rise of the bitcoin during last months.

[Ultegra134]

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?

Have you ever spend you cryptocurrency buying things on the grocery store? Because it my personal experience its very rare to find establishments that accepts cryprocurrency since the beginning of this pandemic, and I don’t see that as a definition of adoption. We must see it in our own place, and this covid 19 makes online more reliable with fiat money, because not all knows what cryptocurrency is.

Since when did Bitcoin have a mass adoption? Even before the pandemic, I've only come across a single shop here, which was an online shop, accepting Bitcoin. I highly doubt that Covid-19 had any potent effect on the market, except a small percentage of people who might be looking to invest during quarantine, nothing much changed.

[husnija]

why would anyone associate something unrelated, didn't you notice at the start of last year's pandemic
i can tell if the situation wasn't like it is now then even better things would have happened

[CaptainCrapper]

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?

The start of pandamic situation my work was very cretical for that reason I was very traboul.but now my situation is not bad.i am always pray for everyone may God save every one.

[eaLiTy]

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?

I have a different point of view, it is true that many people came to the cryptocurrency market during the pandemic situation and it is only because they had more time to look at new market places and wanted to diversify their investment because of global situations rather than anything else.

If you look at the adoption rate, you cannot see that kind of adoption locally in my country and people will not jump into cryptocurrency thinking that they will start using them for local purchases. 

[Vatimins]

     It is still to be adopted. However, if the time comes when bitcoin gets widely adooted worldwide, there will surely be huge gain in the market and not just with bitcoin. I can only imagine how easy things would be and how good it would feel to be using something that isn't managed by anyone else but yourself. But as you said, even today, a lot of people are venturing into this industry because of this pandemic which has caused the massive price hike in almost every crypto currency in this industry. Just try and think how much this industry would flourish if the world decides to adopt crypto currencies fully.

[Oceat]

why would anyone associate something unrelated, didn't you notice at the start of last year's pandemic
i can tell if the situation wasn't like it is now then even better things would have happened

I think this pandemic is somehow related to the bull market since it is widely used these days ever since the lockdown started last year, therefore expanding and increasing the adoption of crypto currency. Plus you include the hype of Elon Musk before to the dogecoin and investment in Bitcoin, it pushes more people to FOMO instead since the market suddenly pump each day until it reaches the $64k ATH.

So if there's no pandemic I don't know if Bitcoin would be able to reach the $64k within this year, maybe Bitcoin would still be lurking at the level of $40k to $50k-ish. Who knows? We all have different opinions and ideas but no one is certain if Covid-19 give a great cause to the crypto community.

[swiftbits]

I think it does a great job in creating more awareness; we are more dependent on our technological devices for transacting, so we spend more time on our phones. of course, e-wallet services are taking advantage of the new trend. I think it's only applicable for the developing country; probably not that new for the developed ones.

[Kakmakr]

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?

I do not think people are more interested in Bitcoin (Crypto currencies) because they want alternative payment options. I think the main driving factor behind Crypto currencies are investment related. People are looking for ways to make money, during a period where "money making" through traditional methods are a lot harder. (businesses had to close and people lost their jobs)

Yes, there might be a small percentage of people who might be using Crypto currencies, but they are just a handful of true believers in the technology. ( I am one of them and I know of very little other people in my immediate surrounding that actually use Crypto as a currency, apart from online gambling and some Pornhub subscriptions. )

It is more appealing to use it as an investment option, because the volatility makes it attractive as a Commodity.  

[ethereumhunter]

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?

If you say about fiat money transform into digital fiat money, then yes, Covid-19 transform their payment into digital because that will be less contact to use paper money. People do not have to use paper money to pay, but they can scan the QR code or deposit their cash into digital money to pay directly using that code or enter the amount that they want to pay. I think it happened for some while before the Covid-19, but the trend became higher in this pandemic since people care about their health. Using digital money can save their fiat money for another reason or deposit their paper money into digital money.

[Raflesia]

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?

By and large, it is safe to say that pandemic has forced governments all round the globe to accelerate the the implementation of CBDC (which is centralized form of digital currency) into  financial  system of their countries but whether  this is good for cryptocurrency like bitcoin and such is an arguable question. There are concerns that  in long-term perspective cryptocurencies    will be undermined by the pressures of CBDC.

Not only a pandemic but thanks to the popularity of bitcoin at this time the government in my country will soon implement it into the central government's money, and now the government is preparing digital money which will later be used with other crypto markets, this is indeed good news even in the near future we can enjoy it .
So now many large institutions are entering digital finance because this is the best solution easily and simply.
During the pandemic, of course, contact is not allowed when transacting so digital money is far better in the current era.

[justdimin]

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?

Well, it is a good thing, but what difference does it make? Digital currencies are one out of the many ways that transactions are being done these days. There are lots of other ways that you can also do transactions these days, payment methods such as Visa, MasterCard, PayPal, CashApp, Venmo, and so many of them are being used by a lot of people for their transactions. So it’s not like the cryptocurrency is the only thing that is being adopted by all these corporate and common people.The way I see it there’s going to be a balance between cryptocurrency and other methods of payments there are.

[Rono]

There are lots of things which may people drag into crypto currency.A very  first thing is popularity of bitcoin which may people has interested to Digital currency.Crypto currency called next generation money and many famous people like John McAfee,Elon Musk and many more people already join into this platform. So lots of their fan follower make an interested on crypto.Crypto currency make large transaction and many more secure system and no need to provide  government your purpose of transaction and even Authority could not Control all of this system.Many more beneficial things in crypto currency but i think cryptocurrency own itself is popular . So I'm not fully accepted your opinion that causes of pendamic corona virus may take the people interested to bitcoin.

[BIT-BENDER]

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?

I am up for the adoption, but there are other cashless ways at the footsteps of people trying to transact to prevent contracting the covid 19 pandemic by the touch of Physical Money contact.
Bitcoin would only be more reason to continue with Crypto-currency for people who are already excited about it.
Covid 19 is just the disease scare awareness of not going cashless, and going cash less means not using, Note/coin or physical trade exchange and of course crypto-currency.

[sana54210]

Covid-19 brings negative effects to the people and that's undeniable. But when it comes to cryptocurrencies, this Covid-19 has unjusexpectedly increased the awareness of people and bring them more closer to digital transactions where it is much encourage this time to avoid the fast spread of virus.

Some countries may have been into digital currencies even before this pandemic but it gained more growth and adoption when this covid-19 started to attack people. It made me realized that covid-19 is not just all about pains and deaths, somehow it made crypto more stable through the support of institutional investors and great things followed for crypto in this time of pandemic.

I would think that pandemic just "speed it up" because I believe it would have happened one way or another in the long run anyway. I am not saying that we are not getting some benefits of the pandemic because we did see a lot of benefit in the crypto world but the regular life was so much harder that I am not sure if things are still that good, it is like balancing each other out instead of being full on negative. People in fiat were on full on negative, we at least had a balancing situation.

Now that pandemic is not as much of a threat in most major nations compared to past thanks to vaccination, we can clearly see that it impacts the price as well, people do not want to be involved in crypto as much as they used to and that is why the price is having hard time recovering this time. I hope that humanity is in better position, I would rather have bitcoin at 1000 dollars and everyone healthy instead of the current situation.

[dark1234]

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?

yes.... of course it is very influential, we can see a number of digital currencies (cryptocurrencies) continue to show their luster in the midst of the economic slowdown caused by the covid-19 pandemic. Dogecoin and aurora for example, these two crypto assets experienced gains of almost 100 percent and 300 percent respectively in one trading day.

This condition further complements the shine of digital currencies during the pandemic and the new normal. At the beginning of the pandemic, it broke out in March 2020 but unfortunately when there were Elon Musk's tweets and the attitude of the Chinese state, bitcoin and others began to decline so that there was a market correction like today

[CryptocurencyKing]

Well, no doubt that the pandemic which did result in an initial fall in the prices of coins in the market was followed by a massive growth in the later months. As the stay at home policy motivated people to look out for online sources of income in the like s of cryptos and forex.
We can't completely make a relativism between the pandemic and the growth of cryptos in that yeah being 2020 which did extend to 2021. There were other events that took place in that year too, like the exchange hacks, bitcoin halving, etc and they all contributed to a large extent.
Musk coming opening to tweet on his dealings and investment in cryptos is the latest of these events. Its also how crypto got to fall so low as well. Though, the rise is coming still.

[Hippocrypto]

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?

Indeed, cryptocurrency is the best alternative that I've vision out as adoption will take over in the next coming years. This will have a huge advantage to provide people what they needed to, particularly to avoid close contact for physical money exchange when you buy goods at local stores. Online payment is a great ways to divert from physical payment towards digital currency transaction.

[Kong Hey Pakboy]

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.

[Reid]

There's is no doubt life will be easier that way. Digital currencies as in "fiat" digitized right?
Credit cards made life easier and so does paper money instead of carrying a lot of gold in your bag.
Everything must improve and here goes computerized money being offered for faster and easier transactions.

I think that's one of the good effects of this damn sickness worldwide. We looked for options in a rush so that our economy won't perish.
If it did not happen, we might still be in slow motion and be hard-headed with traditional ways. We adapt.