Why cryptocurrency is the only way to protect yourself from crisis?
There is probably no one left in the world today who has not heard of the coronavirus COVID-19. Over 700 thousand cases of infection and more than 35 thousand deaths have been recorded in the world so far, many countries have closed their borders, and cities have announced quarantine. But the virus affects not only our traditional life, but also the global economy. Many analysts agree that the pandemic will cause the largest economic crisis in history.
The Chinese economy has already demonstrated the consequences of the spread of the infection: industrial production decreased by more than 13%, export by 17.2%, and retail sales by more than 20%.
Business representatives from all over the world report the issues that arise because of the coronavirus. Thus, the introduction of quarantine and a ban on visiting any places other than grocery stores and pharmacies have led many entertainment companies to the brink of bankruptcy. Shopping centers, restaurants, theaters and cinemas are being closed around the world … It is not yet clear which of them will be open again after the end of the epidemic.
Billions of losses are incurred by airlines, which are forced to stop using large-capacity aircrafts (they are not needed as flights are allowed only within the borders of the country, and now aircrafts have minimal load).
All this negatively impacts the economy and leads to global consequences: take for instance the collapse of the deal on reduction of oil production — as a result, the price of a barrel fell by almost a third, and USD and EUR rates increased. Those investors who assessed the risks from the coronavirus and tried to avoid them collapsed stock markets and exchanges — as a result of what 20 richest people in the world lost more than 78 billion dollars in a day …
But ordinary people turned out to be the most vulnerable in this situation: many were fired or transfered to remote work. Due to the quarantine and downtime of companies, business leaders transfer workers to remote work or to unpaid vacations. All this also shakes the freelance market, which turned out to be oversaturated with offers — there are already not enough orders for all.
People are forced to look for new ways of earning money to survive. But it’s also necessary to pay attention to one fact — inflation is growing due to the economy load, which means that traditional money is devalued, and prices are growing. That is why, facing the financial crisis, many people were attracted by cryptocurrencies, which still remain tempting despite the loss in value over the past few weeks.
One of the easiest and most convenient ways of making money on cryptocurrencies is mining, which today remains profitable in case you use modern equipment and have good electricity rates. ECOS mining project, for example, offers to remotely buy modern equipment and take advantage of favorable conditions (the mining data center was created on the basis of the Hrazdan heat and power station, with a potential capacity of up to 200 megawatts). The use of latest generation powerful equipment allows us to make mining profitable for users even in conditions of cryptocurrencies rate decrease.
