Why Cryoto Fans Think Crypto Is Better Than Cash At The Time of Disaster?

shubham

I have seen several forums and groups where crypto fans boast about the benefits of cryptocurrencies when disaster strikes.

sourav

I have been in this space for more than 2 years now and I am yet to come across someone who thinks crypto is better than cash during bad times.

dharmendar

Cryptocurrencies are sometimes better than holding cash only when the cash or fiat currency is not from a strong economy. This is also true for people in countries where there is massive inflation like Venezuela. In such areas, holding crypto is better than holding cash in the banks because cash will be worthless after a few months due to inflation. But crypto will remain less volatile or stable in the case of stablecoins.

raman

Cryptocurrencies can never replace the use of cash even when there is a disaster or crisis. The beginning of the COVID pandemic was proof of this when every cryptocurrency crashed because people converted their crypto into cash. Further, whenever there is a shortage of cash, such as in inflation, people stop buying cryptocurrencies. The current scenario in the USA is a proof of this.