Cryptocurrency

Role of Digital Currencies In Core Payment Systems Post COVID-19 Crisis

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While celebrating the start of a new decade, who would have thought that the world population is heading towards one of the biggest healthcare calamities of all time. The year 2020 has successfully placed itself in the list of one of the most unfortunate years in history due to the outbreak of COVID-19 or the coronavirus. The disease showcased its first imprints in Wuhan, China, and within few weeks expanded exponentially to all the corners of the globe, taking the death tolls and infection rate to an alarming figure.

The severity of the situation can be sensed by the fact that the World Health Organization was compelled to declare corona as a pandemic. Social distancing was preached, and the governments announced a complete lockdown. This brought all the industrial domains to a halt. Industries were forced to shut stop operations, tourism and transportation stopped, and temporary closure of public places was enforced. Recession gushed uprooting issues such as unemployment, poverty, and business complexities.

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The lockdown has caused serious fluctuations in the cryptocurrency arena as well. While the core economy is still reeling under the plight of coronavirus, cryptocurrencies have started to stabilize their position in the financial space. Recently, the price of Bitcoin surged dramatically during the lockdown. If the growth continues for the coming months as well, cryptocurrencies will likely emerge as a potential payment option. Several crypto experts have opined that cryptocurrencies can turn out to be the next big thing for the financial space to come out of the setback caused by the pandemic.

This year witnessed an array of path-breaking opportunities for crypto enthusiasts. Countries like India, Iran, Zimbabwe, and Venezuela, who earlier carried a skeptical attitude towards cryptocurrencies, have now started accepting it as a potential solution. The reports reveal that cryptocurrencies are strengthening their hold in Colombia at a very fast pace making it the third-biggest hub of crypto lovers. It is expected that the growth in popularity of cryptocurrencies is likely to boost their adoption rate as well as their market price. Top-rated currencies like BTC, ETH, TRX, XRP, BCH, LTC, etc. are expected to reap in high prices in the coming months.

Governments have been urging people to opt for digital payment systems to promote social distancing and reduced use of paper money. Dealing in cryptocurrencies eliminates human contact completely as the currency is digital, and processing is done on a distributed ledger system. They can settle small as well as big transactions without human contact of all sorts.

Investing in cryptocurrencies for beginners can be a tough nut to crack and so seeking help from an expert can be fruitful. The btc-system-web.com platform can help you in earning good profits. The high-tech trading software helps traders to take advantage of all profitable investments. The earning potential of the solution is amazing, with investors earning thousands of dollars regularly.

Conclusion

Standing in 2020 with cryptocurrencies celebrating a decade run, it won’t be wrong to say that the virtual coin industry is here to stay for long. Amid the lockdown, people are resorting to digital payment systems, and this is making space for cryptocurrencies amongst a wider customer base. It is opined that the industry will expand in heaps and bounds as a major substitute for the traditional methods. So, if you are planning to invest in cryptocurrencies, the post-pandemic period can just be the best period for you. Enrich yourself with the ifs and buts of the crypto world and start trading.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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