Are We Going Cashless Due To Covid 19?
Recently I visited a café by the ocean.
Are We Going Cashless Due To Covid 19? Is Crypto A Good Option? We’d been in voluntary self-isolation because of the desire to avoid the Covid-19 contagion, for over a week. The sun was shining and we figured we could stay a couple of metres away from others, grab a cappuccio and get some much-needed vitamin D in this crazy crazy time…
While my partner watched the kids splashing and letting loose in the waves, I went up and purchased coffee. Staying the required 2 metres away, I made my order and went to pay: “We only accept card payments.” Turns out this is happening across the country.
The ABC writes: “Merchants across the country are responding to the COVID-19 crisis by avoiding touching money.“Wow! Everyone I know has taken their cash out of the banks for fear of a freeze and losing access to their own funds (think massive world health crisis and potential global markets crash) and keeping cash, precious metals and crypto at the ready (just in case)…
“Have a think about how not being able to access that capital would affect you.”
– Alex Saunders
So it both surprised and dismayed me to learn that I could only pay with a card. Are We Going Cashless Due To Covid 19? Is Crypto A Good Option?
It was understandable from the point of view of being touch-less. No need for hand-to-hand contact of the same materials (like notes or coins)… But still, I wondered at the fine balance needed in order to have cash at hand, and also leave something in the bank account for these types of transactions. And if ALL transactions were going online, then how would that fare for those without bank accounts? Or no money in their bank accounts? Would this end up meaning that we would be going cashless due to Covid-19 after all?
“Cryptocurrencies such as Bitcoin can add a much-valued third option in these uncertain times. Having another type of money independent of the banking system which can be used locally or internationally, is a wise choice. “And as more businesses explore ways to attract online clients and Bitcoin starts being received in weekly wages (just as mine have been for the past 12 months), it gains utility and versatility. This is what any prudent, well-rounded person should consider.”
– Adam Poulton, CEO of Get Paid In Bitcoin
I too have been receiving part of my wages in Bitcoin for a while now…
As a teacher and an entrepreneur, I’m very grateful to have more than one basket to dip into in times of financial challenge. I always wished I could have provided more for my parents before they passed. Further to that, I am teaching my kids how to be able to take care of themselves in great as well as, troubling times.
News from our politicians garners more distrust and cynicism than hope and confidence.
From a simple Twitter browse, we can see that announcements from our politicians garners more distrust and cynicism than they do hope and confidence. The Australian populous just doesn’t seem to believe what Scott Morrison says. So where can we turn? How can we take care of ‘business’ in these uncertain times?
It’s hard to know who to trust.
Who to believe or what to think – especially in a time when everyone’s first priority is to stay safe. Survival can paint some brutal pictures of humans (like toilet roll wars), but hard times can also bring out the best in people and propel humankind to think of new ways to solve old problems. Are We Going Cashless Due To Covid 19?
Shall we keep the banks from freezing our loot?
Do you have other options if things head south? And thinking like a black sheep? (I mean, honestly… what are the alternatives?)
With Get Paid In Bitcoin, you literally just:
Open a digital wallet on your phone for now – here are some suggestions, but you’ll need to do your own research (DYOR) – we don’t recommend one over the other: Wallet of Satoshi , Coinomi, Blue Wallet
Open a cold storage wallet on another device (see Living Room of Satoshi’s blog about keeping Bitcoin and cryptocurrency safe)
Register on GPIB website
Choose how much you want to allocate to Bitcoin and authorise your employer/ pay clerk to direct your pay to GPIB (forms all included in the registration process – it’s your personal choice and there’s no mention of Bitcoin communicated to your employer)
You’ll receive Bitcoin in your electronic wallet…
Watch and wait…
We’re literally urging Australians with an Aussie bank account, to think outside the #ScoMo box (it’s pretty dark in there) and plan NOW for your uncertain future. You might see the Bitcoin and crypto market fluctuating, but in reality, it ‘s no different to the dives world markets have been taking in every asset class: cash, precious metals AND it’s already recovering.
Even if you just get $50 a week of Bitcoin sent straight to your wallet, less than you’d spend on a family takeaway (since you can’t eat in anyway), you’re far more likely to see Bitcoin market movement (even on that amount), than you would on your burgers (or coffees) anyway…