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Alli Hill Published on 15 December 2021.
Cryptocurrency can hardly be considered new. It first emerged more than a decade ago and has been a hot topic among investors, FIs, fintech’s, and others for many years. And yet, it still hasn’t grown deep roots among the average consumer. What will it take to make cryptocurrency mainstream?
Despite its long-standing existence and tons of how-to’s and explainer videos circling the internet, the entire concept of cryptocurrency is still elusive to the typical consumer. Specifically, questions about its value and how to get and use blockchain currency make consumers shy away from it altogether.
Another layer of complexity is cryptocurrency’s volatility and lack of regulation. Investors in crypto tend to expect big booms and busts. And as crypto trends continue to climb, so will the regulation efforts of governments. We’re just not quite there yet.
But arguably the biggest holdback for average consumers is knowing how to use crypto for purchases. Consumers don’t necessarily see it as an investment, but rather as a currency, as the name implies. This indicates it should be used as money to buy goods and services. And given the transparency and security that blockchain technologies are supposed to offer, it’s no surprise that consumers are struggling to see its value if they can’t use it as easily as a dollar or credit card.
Cryptocurrency has so much to offer: it promises easy and low-cost transactions compared to using credit cards that charge merchants high fees. It’s also a secure form of payment, with every transaction being recorded in the blockchain. Companies that accept crypto payments get their money faster compared to credit card networks and simplify the process of making and accepting cross-border payments.
But in order to achieve these and other benefits to their fullest potential, more goods and services will need to be available for consumers to purchase using crypto.
This process starts with the merchant. This could be an e-commerce store owner, a restaurant that accepts online orders, a local service provider, or even a local grocery store. As more businesses become comfortable accepting cryptocurrency as payment, more consumers may be inclined to consider it as a payment option.
The bottom line is this: if we want cryptocurrency to reach its full potential and add value to the masses, we need to make it easy for businesses and service providers to accept it as payment. Crypto-Supermarkets is helping companies take this next step by simplifying the payment infrastructure.
We’re the first platform of its kind that lets individuals and businesses register their services to be paid in cryptocurrency. Whatever goods or services a person needs, they can use our marketplace to find you, find and compare the best deals, and pay in cryptocurrency. Explore the platform today and register your services for free on our registration page.