Cryptocurrency Adoption Is On The Rise. Here’s How You Can Speed The Trend Along.

If you’re interested in cryptocurrency, you’ll want to see mainstream adoption. After all, without widespread use, crypto has limited value.

That’s why 2020 felt so positive (pandemic aside). The year heralded a rising tide of crypto adoption as institutional investors came on board. And then, in January 2021, Bitcoin network activity hit an all-time high.

But widespread public adoption will require action on everyone’s part. If you want to know what role you can play, read on.

Here’s How You Can Boost Crypto Adoption

First things first: if you want to help others understand (and start to explore) crypto, you’ll need to ensure you can explain it well.

‘Well’ means ‘simply.’ And to do that, you’ll need to learn both about blockchain technology as well as cryptocurrency itself. 

Your research should cover how cryptocurrencies work, their advantages over traditional currency, and how the technology is evolving. If you’re asking, ‘But where can I find this level of detail?’

Well, the Elitium Knowledge Base is a place to start as any. Once you’re comfortable with the fundamentals, it’s time to share your knowledge. Just try to avoid inundating people with technical jargon.

Instead, first, get people to engage in conversation — then ease them into the crypto-sphere, gently, by following these three tips:

• Invite questions: rather than revealing every last detail you know, ask the other person what they want to know, then answer their questions. That way, you move the conversation along at the right pace;

1. Share resources: where you don’t know an answer, point your friend or colleague to a resource where they can learn more about crypto so that their understanding remains factual and on-point;
2. Avoid investment advice: the quickest way to burn someone’s interest in crypto is to give bad investment advice. Crypto is inherently volatile, and people should only ever invest once they understand both the technology and the risks.

And the best part is: by talking about cryptocurrency more often, you’ll not only increase the likelihood of spurring other people’s curiosity. You’ll improve your understanding of the technology and so build your authority in the space.

There’s Never Been a Better Time to Talk

If you have any reservations about promoting cryptocurrency, take confidence in the fact that many big names are doing precisely the same.

In October 2020, FinTech giant PayPal started letting users buy, sell, and hold crypto directly via its services — while J.P.Morgan CEO Jamie Dimon has pivoted from calling Bitcoin a ‘fraud’ to seeing cryptocurrency as banking’s next potential growth space.

Even Elon Musk is warming to the possibilities, with Tesla buying $1.5 billion in BTC in recent months. So rest assured: you are in good company when it comes to seeing the bright side of the blockchain.

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