We all know that the recent COVID-19 outbreak that initiated in late 2019 from Wuhan, China, has turned the entire world upside-down. The virus continues to evolve expeditiously around the globe every passing day and is putting thousands of lives at stake. Many countries have started imposing their own ideas and measures to contain the spread of the virus in their countries, such as mandatory quarantines, social distancing, lockdowns of malls, theatres, and major crowded spaces, etc. The leaders of most major countries even announced a complete lockdown to prevent more people from getting exposed to the virus. One such measure is the initiation of contactless payments.” What are contactless payments? Let’s take a brief look.
Establishment of contactless payments:
Encompassing the COVID-19 outbreak measures, the World Health Organisation ( WHO) has reportedly mentioned that they encourage contactless payments, and people should pay with contactless methods wherever possible, as the virus infection seems to spread through the usage of physical banknotes. Due to this, Central banks have started quarantining physical payments and physical currency notes. The bank of Korea implemented a policy for quarantining physical notes from local banks. They stored all the currency in a safe for say, two weeks as the SARS-COV-2 (the virus) is said to die within nine days.
In early February, the Chinese lenders were asked to disinfect physical bills and store them somewhere safe for at least 14 days. The Bank of England also mentioned that there are possibilities for the virus to thrive in physical currencies when circulating, and people should properly wash or sanitize hands after touching the currencies. Following this, many countries have started setting aside and stopped circulating physical currencies around their countries.
Now, amidst this global pandemic crisis, we are in, and among people trying to name and shame other countries for the cause of this spread, we should not neglect to address the fact that this virus brings a massive impact on our economy and is taking a toll on our day-to-day lives. We should not forget to ask ourselves some crucial questions. How do these implementations affect our lives? What is the alternative solution to this that will save us from any hassle? Cryptocurrencies are the way to go. The use of cryptocurrencies might be really helpful at this point, to keep you healthy and risk-free from the virus. How? Let’s find out.
Why are cryptocurrencies the right choice to stay healthy from COVID-19?
- Cryptocurrencies are digital currencies. With cryptocurrencies, you can conduct borderless transactions from wherever you are without any physical contact.
- Cryptocurrencies provide efficient access to digital money, as anyone with an internet connection can access and conduct trades from various parts of the world.
- You can initiate instant, efficient payments, and attain quick settlements with cryptocurrencies.
- Cryptocurrencies still allow you to transfer the value or swapping of banknotes.
- Cryptocurrencies also come with secure digital wallets where customers can safely store their digitized money.
How secure are cryptocurrencies?
Cryptocurrencies are underpinned by blockchain technology. Blockchain helps record, secure, verify and control every transaction that happens with cryptocurrencies in the exchanges. Cryptocurrencies along with blockchain come with several benefits such as,
- Blockchain provides immutability, where transactions recorded once cannot be altered or interchanged.
- Blockchain allows the anonymity of users and safeguards their information.
- Blockchain comes with decentralization and allows peer-to-peer transactions with transparency to the users.
- With blockchain, you get multi-layered security, which allows you to conduct seamless, risk-free, hassle-free transactions.
- Blockchain-based crypto transactions do not allow any involvement from intermediaries and alert the user when someone tries to hack/enter.
Thus, with cryptocurrencies, you don’t have to come out of your isolation space, or you don’t have to break your quarantine. With cryptocurrencies, you can easily carry-out digitized businesses and conduct transactions with anyone around the world from the comfort of your own home. The profits and benefits are also magnified with the use of cryptocurrencies. The demand and urge for cryptos are already tremendously evolving. Cryptocurrencies are here to stay, and with this pandemic situation, businessmen are leaning more towards cryptos for their businesses because it is the ideal solution.
If you want to attain these advantages and are looking to find solutions for earning profits, get in touch with our experts. They will offer cryptocurrency consultation services to development to every service you need. Stay in your own space, stay safe, also make contactless payments, and conduct a seamless business with compelling benefits and profits!