Digital economy: Alternative to the global threat of the Coronavirus 2019 nCoV

March 15, 2020, 10:47 p.m.
digital economy

Thousands of confirmed cases, hundreds of deaths and the spread to the 5 continents of the planet have given 2019 nCov the classification of a pandemic. Faced with this situation, thousands of corporations and companies have decided to send their workers to their homes, in an attempt to stop a further spread of the virus that could compromise more lives.

In a joint effort, several countries have even determined to have a total quarantine, forbidding entry or exit of people from their geographical limits, which has resulted in panic in commercial and financial environments.

Contingency plans are being created, but the reality is that financial markets are moving at the rate of future expectations, and in a moment of the pandemic, the future is uncertain, making the capital of less stable economies It moves towards safer scenarios, due to the uncertainty generated by the Coronavirus 2019 nCov, which produces an economic collapse.

Cryptocurrencies do not escape this situation. Crypto investors panicked on March 12 when an estimated $ 1 billion was withdrawn from the digital asset market. Some experts affirm that this situation occurred thanks to the Dow Jones Industrial Average fell by 9.99% by the increase of the number of confirmed cases of Coronavirus 2019 nCov and the fall in the price of oil, a scenario only comparable to the Fall of markets in the 2008 crisis. However, a new moment of accumulation seems to be appearing, where it is expected that the market will focus more on individuals than on large investors, making it an excellent time for accumulation of crypto assets.

The current financial situation only demonstrates the vulnerability of financial markets to situations of collective panic, in a globalized world where news travels at incredible speed.

There is still no talk of unemployment levels, however in a possible moment of quarantine in countries that are global suppliers of products and services, the reality of new business models appears and this is where cryptocurrencies, could become the protagonists in a global market that cannot be stopped and needs to be effective quickly.

A new way of working, which corporate giants like Google have already begun to apply, present remote management, where workers carry out their tasks from their homes, to prevent the further spread of the Coronavirus. Thousands of people receive cash payments or bank deposits, but with mobility restrictions, this practice, at least right now, is compromised, making digital payments a great solution for employers and employees. Through wallet services (most are free and easy to install and download to any smartphone), employers can instantly make payments to their employees through cryptocurrencies. Indeed, the cryptocurrency market is currently in a state of volatility, the volatility of product prices around the world is also true, as well as the collapse of some banking platforms and traditional remittance services, so it is no longer a guarantee to receive payments only in FIAT currencies. In many countries such as Venezuela, Mexico, Chile, Argentina, and Colombia, there are commercial ecosystems that have solutions to operate with cryptocurrencies easily, simply and quickly at any level.

Cryptobuyer offers Cryptobuyer Pay, a digital point of sale, operable from anywhere on the planet and from any device connected to the internet (smartphone, tablet, computer), with which any business, physical or online (from restaurants to supermarkets, pharmacies, hospitals, clinics and more) can accept 8 cryptocurrencies (the most used worldwide) while Cryptobuyer liquidates 100% of its sales in its international bank accounts. This solution gives to ordinary people a safe solution to do their daily shopping. Cryptobuyer currently has a network of more than 40,000 affiliated businesses in Latin America.

Sending family remittances (especially at a global time like today) is a service of first necessity, however, the high demand for the service and financial restrictions have collapsed the sending of cross-border money, making it even more expensive and delayed. So sending family remittances with cryptocurrencies today is the most viable option because sending crypto is done almost immediately. Cryptobuyer has a ATMs network in Panama that allows anyone to send cryptocurrencies with cash in a matter of minutes to anywhere in the world, so the recipient or family member does not have to wait days to have the effective transfer of funds.

Buying and selling currency in cash can be a problem because it results in a physical exchange and a possible focus of transmission, so making a reservation of value in cryptocurrencies is always a viable option, especially in those countries where the local economy is unstable and the prices of its currencies are volatile. On our web platform, you can buy and sell 6 cryptocurrencies, including a stable coin, from your home security with your local currency and without risks.

The purchase of supplies is another issue of interest to the world population right now. Store shelves are being affected by a lack of replenishment due to Coronavirus travel restrictions, making online shopping a real safety option. Some people can´t wait for the replenishment of products in the stores near to their homes, so there are thousands of online stores that have many solutions. At Cryptobuyer we give our users the option to purchase gift cards from more than 250 merchants worldwide through our web platform using cryptocurrencies.

The volatility of world markets is a reality and from Cryptobuyer we have developed our XPT cryptocurrency, a token that you can use throughout our ecosystem (web platform, ATM network and points of sale) to give you more profitable, safe and effective options.

Discover our products and services at www.cryptobuyer.io and experience all the advantages of the digital economy.