COVID-19- COrona VIrus Disease, one of the largest widespread faced by the 21st-century human race, for which antibiotics cure is yet to be found, Within 6 months the virus has managed to reach every country. The Whole Global economy is slow down in this Covid-19 outbreak.
The Chinese government has temporarily banned the use of fiat-currencies to prevent the spread of COVID-19. So that many start-ups and large enterprises are facing challenges to raise profits for their business due to this COVID-19 outbreak.
Most of the people will start believing in the technology behind Cryptocurrency and it is becoming an important aspect of local economics. A payment made with cryptocurrency cannot be reversed and it is varied from credit card/debit card payments, it can be secured and verify the transfer of assets.
Nowadays Cryptocurrency payments are being used by some of the insurance companies and it is an important aspect for crypto users,
The volatility of cryptocurrency prices also contributes to insurance coverage.
Cryptocurrency insurance gives an opportunity to investors and businesses a way to safeguard their digital assets against a number of potential threats. So they get some benefit from cryptocurrency insurance.
In this COVID-19 crisis, If Insurance holders are affected by illness, they can directly go to hospitals and take treatments after that they can easily claim their treatment charges through their insurance.
After seeing the benefits of using cryptocurrency, some of the hospitals are ready to accept the cryptocurrency payments.
It is a decentralized healthcare system for patients and healthcare providers to share and access data with ease on a secured platform.
Some of the insurance companies and hospitals are providing some insurance benefits to the cryptocurrency holders, so they can get relief from this COVID-19 Crisis.
In this tough situation, cryptocurrencies may provide a solution to all the issues related to the traditional financial system. Cryptocurrency is a good idea to use contactless payments throughout the world. Many crypto-based startups and companies are already well-positioned for this, especially they have planned to offer digital token or other crypto-based services and solutions.
With the existence of many cryptocurrencies in today’s world, Now
some of the leading central banks are launching their own version of digital currencies, to boost the validity of crypto assets.
Tether is one of the digital cash that can be very useful at this time, You can easily make contactless payments and save your transaction fees.
These types of cryptocurrencies enable the user to utilize blockchain networks to transact fiat currencies, not only cryptocurrencies some of the unique tokens are aimed at solving the issues of particular sectors to play a certain role within the network.
Cryptocurrencies will become the possible way out to aimed in this COVID-19 crisis, for example, online financial operations are now suffering because of high demand. Cryptocurrency transactions can be the right solutions and it makes new investment opportunities for the period of total quarantine.
Decentralized AI Alliance - (DAIA) - They recently launched #COVIDathon, this is the world’s first decentralized artificial intelligence that has been designed to help to assist the global medical industry in creating solutions to combat in COVID-19.
Investors are scrambling to find safe-haven assets, and most of the people are now asking whether cryptocurrencies, such as bitcoin, are a good investment after seeing their growth. Many cryptocurrency-based startups and projects are ready to arrive on the market. The spread of the deadly virus across the globe, carrying out business online and not having to touch cash is one of the main reasons for the increased use of cryptocurrencies.
Over the past few years, The King of Cryptocurrency “Bitcoin” was compared to be digital gold. Some of the crypto traders are believing that this Bitcoin is the safest asset to invest when the global markets get under pressure.
Cryptocurrency usage has recorded its daily volume grow by over 70 per cent during at the end of March 2020. This may bring more confidence to the start-up and entrepreneurs are start believing to invest in cryptocurrency, most of them are starting to work in online crypto payment gateway business.
Many of the cryptocurrency projects are proving to gain real values during this COVID-19 situation this causes the main reason for increasing the usage of cryptocurrencies instead of using banknotes.
In this year the market capitalization of the global cryptocurrency market was valued over at USD 210 billion.
Cryptocurrency prices may fell down at the beginning of lockdown, but after the rise of Bitcoin and other cryptocurrencies, Ethereum has dropped to $100 at the time of lockdown but at the time of writing a blog, it has recovered to rise above $180.
Even as most of the country goes into lockdown, people are still going to want and need to invest online, So in this crucial time, various cryptocurrency development companies are coming forward to help and deal with this global crisis and creating opportunities to serve their services through online and make a profit with cryptocurrencies.
Here’s Developcoins a pre-eminent cryptocurrency development company that helps to support crypto business entrepreneurs during this COVID-19 crisis.
Our Well-versed Crypto developers are ready to provide solutions to crypto-related project development. Developcoins gives the right solutions to your crypto business, we also provide cryptocurrency & blockchain business solutions which includes
If you have any idea to create your own cryptocurrency for your business,? we offer complete cryptocurrency services from creation to launching at an affordable cost.