The pandemic has thrown everything out of order. People and governments have been trying to figure out some sort of solution, but things haven’t gone so well, especially for economies around the world. Still, with all that happening, cryptocurrency continues to rise, and you’re going to find out why below.
Stability is one reason cryptocurrency continues to rise in popularity. It’s the reason people are investing in it more and more. Of course, many people don’t know much about crypto just yet. According to the experts at Money Morning, people still need a good cryptocurrency glossary to get started in this world.
Crypto is still new, and getting comfortable with a new financial system takes time. Still, the instability around the world because of the pandemic has forced people to learn about crypto quickly.
Globalization of the Web
The other reason crypto continues to rise in popularity is because of the internet. Communities that didn’t have access to the web before are gaining access. Rural and disenfranchised communities are starting to browse the web regularly.
Things would indeed be better if governments around the world just invested in providing free wi-fi for everyone since the internet has become so important for investment opportunities, but that hasn’t happened yet. Still, the reach of web access is opening things up to more people, and that led to crypto growth during the pandemic because people were stuck at home.
For a long time, cryptocurrency wasn’t accepted in many places around the world. Sure, some online stores here and there accepted their value, but for a while, most people scoffed at it. That’s no longer the case. Cryptocurrencies are beginning to gain some power. Many stores, both brick-and-mortar and online, are accepting some type of cryptocurrency nowadays.
Countries are trying to legitimize cryptocurrency, too. For example, Costa Rica just announced that employees can now get paid using cryptocurrency. As more countries begin to adopt cryptocurrency, it’ll grow even more. This is more likely now that many countries are struggling financially because of the pandemic.
Hunger to Decentralize
There’s a hunger out there. A growing number of men and women don’t want their money tied to the government. A government could, if they choose, bring the value of the currency up or down, which doesn’t sit well with the population.
Decentralized currency, like crypto, isn’t governed that way. The money isn’t manipulated by special interest. The pandemic just accelerated these types of thoughts, and it’s going to help propel the idea of decentralization even more.
The popularity of cryptocurrency is also playing a factor in the growth it continues to have. The more that people see or hear about crypto, the more curious they’ll become. This is especially true if they find out that friends or family members are taking the plunge.