One Cent At A Time

Like most currencies that disperse new currency, Bitcoin does not have a banking system behind it but is essentially based on two ideas: • a node network, PCs that administer it in a distributed, peer-to-peer manner; • and an encrypted system that allows it to conduct secure transactions for the investors. Therefore, bitcoins are a type of digital currency, who value fluctuates from time to time. Last year, we saw a huge change in the entire bitcoin cryptocurrency world when Canada became the first county in the world to get bitcoin approved by the exchange-traded fund or the ETF. Cryptocurrencies also exist so do stable coins, which would be helpful if at all the cryptocurrency industry gets usurped, which probably will not, as it has become an important currency in the world today.

While the money has undoubtedly been very helpful, you might be wondering if there are other ways to earn a little extra money on the side—especially if you have a large pile of bills and are wondering how to get out of debt quickly. You likely won’t qualify for some or most of the ones you sign up for (they’re often looking for people with very specific experiences), but if you do qualify, it’s an easy way to earn extra cash. Packed fitness classes are still prohibited in many states due to COVID restrictions, but if you’re a fitness instructor (and live in an area that isn’t currently freezing), you can teach socially distant classes outdoors. You may not currently feel comfortable renting out an entire room in your house during the pandemic, but if you love animals, you can register on pet-sitting sites and get paid for taking care of a new four-legged roommate or two.

Money can be transferred directly to a bank account, mobile wallet, or one of Western Union’s physical locations. This app lets you send money directly between bank accounts. Just use your smartphone’s contactless pay option and the money will come directly out of your Google Pay account. If your in-app wallet does not have enough to cover the cost, then the rest will come from your linked bank account.

The new strain of COVID and the expected resurgence of the pandemic will only amplify these practices, forcing people to change up their ways. In a world ravaged by the pandemic and where observing social distancing has become the norm, you cannot survive without one or two of these digital payment methods. While the argument of a hundred percent cashless society is highly debatable, it cannot be denied that COVID-19 has encouraged the transition to digital payments and contactless transfers of money. The ever-growing digital payment infrastructure will force businesses and their consumers to adapt to the new norm.