My Favorite Cryptocurrency – How Can We Get Businesses to Accept as Payment?
My crypto currency experience
I was introduced to cryptoworld back in the beginning of year 2020 through a friend. I started earning bitcoin satoshi by working in forums like cryptotalk and bitcointalk, I have also tried earning through Faucet website, which was definitely a waste of time, but yeah I was addicted to get more bitcoin lol..
Since January 2020,i started holding and withdrawal some amount for my personal expenses, but since beginning I have tried to save as much as I can, I'm holding a very low amount of BTC, TRX, STEEM, BNB, WRX token and SOL in my Binance wallet, I want to diversify more of my investment into various cryptocurrency rather than keeping all the funds in one bucket, but as its a long term process I'm executing it slowly in an easy way.
Why I like cryptocurrency
Cryptocurrency is deep, when you start to learn about it you just want to dig deeper I mean you get curious to learn more and more about it, you learn about blockchain technology then you just want to know how it all works and how all started, when I first learnt about crypto back in 2020,i search a lot on Wikipedia, cointelegraph and other websites to learn What exactly cryptocurrency is and how does blockchain technology works.
The desire to keep digging deeper more and more is what makes me like cryptocurrency the most because it makes you learn new everyday
If we talk about How do I use cryptocurrency, I mostly do HODL converting funds into various other currency when prices go down and then sell some of them when prices go up to convert some of solid asset into Fiat currency which helps me with my daily expenses and some major monthly expenses as well.
My favorite cryptocurrency exchange
To be honest my first cryptocurrency exchange was Yobit exchange, I started to use it in January 2020,when I was earning in a forum, it was mandatory to connect my account with Yobit exchange to withdraw funds, later I learnt about other top exchanges, I.e binance, bittrex and others.
At the moment my favorite Exchange to trade crypto is Binance exchange the mobile application is very easy to use i like the friendly user interface and it also has P2P mode for buy /sell crypto plus savings options as well so you earn ROI on your HODL coins into binance but currently it's available only for some coins.
I'm also holding some TRX into my tron wallet, put them into mining for now to earn Some SUN :)
Cryptocurrency a Turning point in my life
First of all, I'm actually glad that I got to learn about Cryptocurrency, I mean its amazing to know about it, you get to learn and earn everyday, with cryptocurrency you can have a better life and since I have join steemit, I feel like it was a turning point in my life for good. I mean I get to read other articles compare many things From around the world by just sitting in my bed, it's like having a survey details from global right from your bed!
I was Able to pay my college /coaching fees by converting crypto into fiat obviously, it makes me feel like I'm independent at this age, so this all feels really great, like a lucky person, it keeps a smile on my face :)
How can we get businesses to accept cryptocurrency as payment?
Now finally getting to the main point actually i have various ideas for this -
1 - Social media promotion
We all are aware the role of social media playing these days in terms of promotion, things go viral over nights, you may have seen on twitter, everyday new tags getting into trending, We really need to increase the social media activity For STEEM not just steem but all the cryptocurrency. Maybe we should try tagging and using some comman shoping tags.
I think it would be great if #theshoppinggame is brought back once again, and then make it mandatory to share posts on social media platform, it can make a huge impact.
2 Getting business on STEEM blockchain
If somehow we can get bussines account of direct sellers on Steem blockchain Then we can directly pay them into Steem and receive our desired products. That way people will learn more about it, it will start to go viral but we need to take initial steps first, starting with 1 or 2 bussines account.
3 Specific market
I think there should be some sort of specific crypto market like OLX Ebay and others, where we can make payments into Cryptocurrency And get the goods/Service we want.
Alternatively purchasing Gift cards with crypto and use them on online shopping websites..
4 Sharing is caring
People talks, things go viral faster, if all of us try bringing our friends, family and community on Steem, it could be great as person is connected with so many people, it works as a chain, I invited ABC and then they further invited DEFG and then they asked to invite further and so on.. This is how it works isn't? When you eat anything you tell everyone try eating it its so great similarly try telling people How amazing Cryptocurrency is sometime it will work sometime not but at least you are making an effort to witness mass adoption of cryptocurrency!!
5 Convincing skills
As you all may have learned so far, that explaining cryptocurrency to a newbie is quite complicated, So you just have to put A start in their mind about crypto then they will automatically start digging more about it. I mean just show them payment proofs, share youtube video links, just explain how good and Interesting it is they will automatically start to Dig more about it. Tell them about the history of bitcoin they will get addicted towards it!!! Just give it a try!
It's not like every country can have it, some countries are developed where literary rate is high, people are aware of digital payments, in some countries people aren't educated they own local small shops Having no idea about digital payments so in my opinion development of the country also matters.
In some countries universities they teach you about crypto, my teachers told me nothing about crypto, I wonder if they even knew about it themselves, and they used to teach me Bussines /Economics.
7 making people aware
See cryptocurrency isn't bad, it's just people are not aware about Crypto, I mean India has 17.35% of the total population of the world But how many users do you see on STEEM blockchain from India? 0.001% maybe? When people are aware mass adoption for crypto is possible and that's when everyone including big companies and bussines will start to accept crypto as payment.
8 Government restrictions
This is another major factor which is interrupting the mass adoption of crypto, many countries government have banned it, they consider it a scam, gamble and have them banned at all, which is making a negative impact on people mind.