Definitely true, people using digital currency will give them the benefit and ease of transacting payments without physical cash. While this one is great, physical cash will not go obsolete. However, CBDC on most countries like chinese digital yuan, japanese yen, and other experimented digital currency initiated by central banks may spell "yes to utmost adoption" of digital payments.People will no doubt surely be more appealed towards digital payments due to them preferring to not transact with physical cash. But regardless, I personally don't think physical cash transactions will necessarily die as there's definitely still advantages with using physical cash(privacy is one).
With that said, no; it doesn't necessarily mean people are going to move to bitcoin. People will mostly be using platforms such as Cash App and Venmo.
The COVID-19 crisis is spreading,not evolving.There's a difference between those two terms.As the covid crisis is evolving step-by-step, started as a health crisis it is bending towards economic crisis which is showing an elevation from physical to digital.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?![]()
I wouldn't say it will be permanent but there are factors to consider regarding consumer behaviours. So far, I think the lean towards using digital payments in my country has increased since people now are into selling goods online. I don't think bitcoin is into those digital payments accepted here but more like those are still just cash from some digital payment providers and I think we are far more to accept that norm paying digital currencies like bitcoin.Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?![]()
Maybe,Covid19 pandemic will stay for so long but i don't think that it will bring people towards digital currency because digital currency is not yet legally accepted anywhere. Also government still issuing a new design of fiat money despite of this pandemic which means government has no plan to adopt digital currency. This is just my point of view for my country. In other country that are already accepting cryptocurrency and allow their people to use it,using atm machines and other modern technology in cryptocurrency,I think it is easy for then to adopt digital currency as a new normal due to pandemic.As the covid crisis is evolving step-by-step, started as a health crisis it is bending towards economic crisis which is showing an elevation from physical to digital.
Does Coronavirus pandemic will permanently change consumer behaviour towards digital currency?![]()