COVID-19 has come at 2020 with full force. From impeding on our social lives to slowing down the growth of our global economy, this pandemic is managing to become a powerful agent of change.
Such change can be seen in the transformation of our attitudes towards money. For those of us involved with cryptocurrency and blockchain, this is proving to be somewhat positive.
In fact, COVID-19 is managing to make crypto popular… and here’s why.
Cryptocurrency and the financial landscape
Over the last few years, Bitcoin and cryptocurrencies alike have made a name for themselves. For some, crypto is a foreign concept of which they do not want to be familiarized with. For others, it’s an opportunity to improve the way they manage their assets.
Regardless of where one stands, crypto is gaining popularity. By removing the need for middlemen and enabling peer-to-peer transactions, cryptocurrency is the ultimate tool to regaining financial autonomy. It is because of this that crypto is managing to disrupt our financial landscape.
COVID-19 and its role in making crypto popular
Prior to the pandemic, interest in crypto was considerable but growing slowly. Now, with the outbreak of COVID-19, this has somewhat changed and crypto is becoming popular.
Recent research indicates that the virus is managing to speed up crypto adoption. With many keen on maintaining social distancing and appropriate hygiene practices, a touchless currency provides a great alternative to cash.
Interestingly, this adoption is also being supported by companies. As most work remotely, financial technology provides a suitable solution that allows businesses to operate as usual.
With crypto offering an efficient, high-speed and low-cost alternative to cash, one can only hope that businesses recognize the benefits of crypto and continue using it long after the pandemic.
It is hard to say if the rise in crypto’s popularity is here to stay. As crypto enthusiasts, one can only hope that the greater community will realize the benefits that this technology has!
Are you interested in cryptocurrency but don’t know how to get involved?