Here’s How Bitcoin Will Get Over the User Adoption Hump: Earn BTC Rewards When Shopping Online
According to last year’s ING international survey, 66 percent of Europeans, 57 percent of Americans, and 70 percent of Australians have heard of cryptocurrency while only about 9 percent of Europeans, 8 percent of Americans and 7 percent of Australians own some cryptocurrency while according to the Bank of Canada survey, less than 3 percent of Canadians own any Bitcoin.
While about 15 to 25 percent of these are interested in buying Bitcoin and crypto in the future. So, it’s clear fintech platforms will help drive the adoption. Recently, Ryan Radloff, the CEO of CoinShares had shared in a medium post that retail buyers have driven the speculation hype-cycle of Bitcoin till date.
This along with institutional investors bring in new attraction from new masses driving new demand which means fintech platform will help drive the crypto adoption further. Samsung and Starbucks have already started making its way to cryptos and with their millions of customers, it will only get farther.
Moreover, products like Cash app and Robinhood app makes it, even more, easier for users to dabble in crypto. Since making Bitcoin available for purchase via CashApp, Square has been able to sold progressively more Bitcoin every quarter. These are certainly potential and strong mediums to drive bitcoin adoption. But what else to could drive the real adoption?
Reaching the Masses
Shopping makes for one of the most obvious opportunity to bring bitcoin and cryptos to the masses and in their day to day life. Sites like Overstock and Shopify has already started allows its customers to buy BTC since 2014 and 2013.
Solutions like Lolli.com also offers an amazing opportunity which according to its founder, Alex Adelman, “is a free, intuitive, and completely risk free way to get involved in bitcoin.”
This offers its users the ability to “send 0.0014 BTC ($5 USD) and earn 0.0014 BTC when they share with family and friends.”
— CoinShares 👩🚀 (@CoinSharesCo) March 13, 2019
Another potential driver of Bitcoin adoption is ATM. Earlier this year, Coinstar made it possible for people to buy Bitcoin at grocery stores. Now, recently, Morgan Creek Digital’s Anthony Pompliano pitched Kroger to get us to spend Bitcoin at their over 450 stores via Lightning Network.
Not to forget the “cyberpunk roots” of Bitcoin where it offers a freedom of choice and in countries like Venezuela and Argentina have found a store of value amidst currency crisis. As CoinShares put it:
“Whether for ordinary citizens subverting capital controls, to fighting for free speech, or even just supporting those projects that we all collectively benefit from like Wikimedia,” Bitcoin and cryptos hold significant value.
Also, in the light of Facebook’s privacy scandal leading to surveillance and privacy concerns that makes Bitcoin an independent and refreshing alternative.