Cryptocurrency

How Bitcoin Became Big Money During The COVID-19 Pandemic?

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Bitcoin

The pandemic and the cryptocurrency have been a difficult time and difficult thing brought together. Many of us have had a lot of problems during the past 3-4 months when the pandemic had just set in. Well, the pandemic exists even now but we have become accustomed to it somewhat and now many people are going out to work and earn money.

In the past few months, people have not been able to earn money and they had all expenditure. But did we notice something else in the past few months?

Well in the past months, people had no money in hand and no job. Some of the people had to sell off their assets to get something in return and fulfil the daily requirement of the daily essentials. Many books and many of the news have covered this incident. While it is very important that you actually know what happened in the past few months. If you are interested in bitcoin trading you can visit bitcoin banker.

While many of the bitcoin users lost the bitcoins that they held while some others got into the profession. While many of the countries legalized the use of bitcoin because they felt that during such critical times, people need to earn money by some other means.  It has been found than more than 400% of people have used bitcoin in the past few months. There have been innumerable new joiners.

What happened in many of the countries?

It is said the bitcoin trading has increased in many countries after it has been legalized in many countries around the world. If we take the instances of India, since the Supreme Court has legalized the use of the bitcoin, the trading has literally increased unimaginably.

Not only did the common people enter this space for money, many of the celebrities and sports person has also entered in this sphere.

The forced lockdown in the past few months have caused the people to stay at home, people have started to spend more time with their phone, laptops, and tab. Hence more and more people are trading at home, they are finding ways to trade more and more bitcoins. In the past four months when the lockdown was enforced largely all across the world, the drive on the way to crypto was found more than it is actually thought to be. The trading volume in India was seen to have increased surprisingly during this time.

The traders have increased so much that the regulators have started to think about how to impose taxes and how to get it into a normal scale like that of fiat currency. Many people have been benefited through this process. Many of the crypto faucet owners have been found really happy that the bitcoin trading has got famous people have actually started to consider it so much so that they want to use it in day to day life.

Effect of COVID-19 on Bitcoin in 2020

The coronavirus has majorly affected the bitcoin in 2020. The whole of the cryptocurrency has been affected by the COVID-19 majorly. There have been many issues like the liquidity of bitcoins, scams, and the regulation required in using bitcoin. The most absurd factor is that many of the companies are building many things new the name of technology and advancement but surprisingly those companies are again afraid of using the new blockchain technology which is also something new. Though the bitcoin can now be called mainstream money and now this money matters quite more. Some of the government has already taken some very strong sense of regulation which will help one to trade easily.

Conclusion

The matter of fact that money is superior to anything on this earth., hence if there is no money in this world then people would of course look for some substitute. In the past few months, people have realized that cryptocurrency is something that has helped people to maintain the life of the people. It has shown a positive sign in the past few months and it is expected to be even more positive as and when required. While still 2019 there were many controversies but by now people believe that it is possible to earn a good number of cryptocurrencies and it can be used for various purposes now.

Raj Hirvate
Hi, I'm Raj Hirvate and I am a Tech Blogger from India. I like to post about technology and product reviews to the readers of my blog. Apart from blogging i'm a big Anime fan I Love Watching Naruto, One piece and Death Note.

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