Bitcoin transactions need the Internet to be completed, so crypto investors might be curious about the consequences of such a catastrophe. Well dear crypto trader, worry not. The simple answer to this question is NO. Bitcoin will still be functional even if the Internet goes down. To fully answer this question, keep reading as I explain.
Although the whole Internet is unlikely to crash, there have been cases of region-wide or even countrywide coverage shut-downs. Events such as natural disasters or government restrictions can cause the Internet to go down. So how does this affect Bitcoin?
An Internet shutdown is just one of the reasons Bitcoin might collapse. Bitcoins are digital assets and are transacted over the Internet. This means the web is necessary for them to be used as a means of exchange or as digital money. Because the Internet is the basis of Bitcoin’s worth, there are some risks involved with downtime.