CoronaVirus or the fast spreading COVID-19 is creating havoc not just on people’s health but also on financial health worldwide. The effects are resounding on most of the industries but the most affected apparently is the travel industry. The onslaught of the pandemic recently declared by WHO also is causing a major shift in the payment habits as consumers are shifting to digital payment channels to reduce risk and cash handling.
Regions worldwide are now resorting to a rise in contactless transactions leading to the relief that at least in that perspective it will not spread the virus. With discussions leading to digital payments, cryptos surely find a mention here. Countries that have been affected the most are encouraging their workers to work from home for very obvious reasons. For those who are earning money online, cryptocurrency seems to be a great way to earn. For those especially who work in the blockchain industry very well know when the right time is to encash the ethereum to pay the bills.
With an increasing number of people opting to stay at home and work on their own devices, there is a wide range of advantages we can observe due to this trend.
1. MNC’s have been sourcing a lot of their work to third-world countries for years now. Employees can now bid for roles outside the geographical limit. Whichever trade it is, be it customer support, content writing or coding for new software, it only means that payments to them can be in crypto leading to increased acceptance in it.
2. Working from Home will give people the opportunity to learn more about the crypto trade. Those who want to encash their working time at home can easily gather some useful information about it and start investing to make the extra buck!
3. When digital payments in the form of crypto are encouraged, a lot many retail spaces that have been refraining from accepting crypto payments are now bound to include it in their payment system.
The pandemic has surely infused fears in the minds of people, but it has also given some relief to cryptocurrency because now there are bright chances that more number of people and concern will understand its importance.