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Pandemic is telling us it’s time to adopt cryptocurrencies

pandemic

The difficult, pandemic period has tangled many industries and, above all, has damaged banks. This could lead to better acceptance of cryptocurrencies.

Let’s take a look at the possible scenario of accelerated acceptance of cryptocurrencies.

Efforts to recover

We have already brought you reports on how the coronavirus caused significant bank losses or how investors began to invest in gold or cryptocurrencies. Banks are also looking for ways to restart the economy and to make  profits again. Unfortunately, due to the ongoing pandemic, this is not completely possible.

Ordinary people are more and more interested in cryptocurrencies. Prior to the pandemic, the demand for cryptocurrencies was speculative. Many people were not sure if it was worth investing and looked for various other possibilities. During the events of the pandemic, when famous investors began to invest heavily in cryptocurrencies, many people decided to start protecting their assets and decided to invest in cryptocurrencies as well.

Unprecedented activity

However, since the fall of the markets in March, stocks and banks have not recovered as well as cryptocurrencies. And that could lead to a massive adoption of cryptocurrencies. It is possible that this will be the impulse when people realize that the central financial system is not suitable for such situations, because it is outdated and it’s very poorly adaptating to the needed changes of functioning of the society.

In recent months, crypto markets have announced unprecedented daily turnovers and many new users. It is possible that we are on the threshold of massive adoption and that in the near future everyone will have their own cryptocurrency.

Conclusion

The central financial system is constantly proving to us that it is outdated and that, as humanity, we need a better financial system that we can trust. If you still haven’t started protecting your property and investing in cryptocurrencies, you still have time to get on the train. Just remember the golden rule of investing: invest only as much as you can afford to lose.

Source: forbes.com

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