Through a localized Onboarding process, Bitcoin community leaders can educate others about bitcoin's values.
This opinion editorial is by Doug, founder and proponent of local Bitcoin on-ramps.
Because exchanges are convenient, easy and aligned with fiat, they are the preferred route for exchanging fiat to access Bitcoin. As there are many options available, this will not be the only way to exchange fiat for Bitcoin. One in particular eliminates the friction and allows everyone access to Bitcoin. Everyone. What is the solution? Let's first discuss who is paving this way. Two main groups will be able to help distribute the solution in local communities: Bitcoin meetups, and small businesses. This is a significant step in the right direction.
Bitcoin meetups have quickly become the hub of Bitcoin education and advancement in every city. There are many meetups that take place weekly and monthly in small cities and towns across the country. More are being organized every week. Meetups allow Bitcoin experts and novices to meet to share their knowledge, learn and work together to improve adoption in their communities. Many of these meetups have leaders who dedicate their time and energy to Bitcoin. These leaders are passionate people who care about Bitcoin and the community. Newcomers often ask meetup organizers and regulars, "Where can I buy bitcoin?" After explaining the tradeoffs and personal preferences, the organizer will send the code to the organizer and the newbie will be able to set up another account. It doesn't have to be this way.
Because of increased government intervention, small businesses are the backbone for any community. They have the most to lose by adopting a Bitcoin standard. It is very difficult to remain in business when you are forced to use fiat in hyperinflationary environments. Accepting bitcoin payments is the best thing a business can do. They should also start to hold it in reserve. The current push to make small businesses accept bitcoin payments for goods and services is crucial. It is often overlooked that not all consumers are ready to use bitcoin. Customers must have access to bitcoin in order to accept bitcoin payments. As it stands now, most people who see a bitcoin discount and decide to pay in bitcoin are forced to add another task to their list. This makes them less likely to return to the store. The friction of accessing bitcoin only reinforces the consumer perception that it is too complex and not ready for retail.
The Bitcoin meetup participant or local customer will have to sacrifice their privacy, time and mental energy to achieve their goal. One has given up their identity to gain access to a database which doesn't require it by the end. This process, which includes account verification, moving money onto an exchange and making a purchase as well as moving bitcoin off of the exchange, can take several weeks. If they are motivated, this may be longer. This entire process is documented by the exchange, the bank, and the government.
Although there are many ways to access bitcoin beyond exchanges, Azteco's Bitcoin voucher program is my favorite. Azteco's system is simple: find a vendor, scan the QR code and purchase a voucher. You will need to download a compatible wallet on your phone if you don't already have one. However, this interaction can only take a few minutes. It is fast, private, and easy to use. The consumer has full control over their Bitcoins immediately. Azteco's bitcoin coupons are my favorite way to get bitcoin.
It's something that is readily available around the globe, but not as much in the USA. BitRamp was established to provide access to Bitcoin vouchers for two groups who are gradually playing an increasing role in Bitcoin adoption: meetups and small business. BitRamp, an Azteco partner makes it easy for both groups and individuals to offer an on-ramp via bitcoin coupons. This significantly reduces the amount of capital needed to do so. A person can now attend a meetup and, in a matter of minutes, have sovereign Bitcoin custody. Small business owners can now give customers access to their preferred payment in a fast and private manner that is easy for them.
Meetups and small businesses now have the option to offer bitcoin vouchers to both their regular attendees and newcomers, to act as bitcoin onramps in their local community. Meetup organizers no longer have to send newcomers to an at-home exchange to buy bitcoin. The organizer of the meetup can now reduce friction by educating attendees on the value and giving them the ability to immediately take custody. With bitcoin vouchers, everyone wins. This is great for DCA onboarding. This is what's happening across the country. Meetups have been distributing bitcoin vouchers to their attendees, and it has been a huge success. A small percentage of each sale also goes to the meetup, which supports their efforts in their local community. By purchasing bitcoin through the best source, attendees can support their local meetup. Support adoption in your community by buying bitcoin locally.
Small businesses that understand bitcoin's value and accept it as payment no longer need to send their customers away in order to get bitcoin or participate in the incentive. The business can make bitcoin available to customers in order to pass on the credit card transaction savings and eliminate the risk of chargebacks. If bitcoin is easily accessible to customers, they will see an increase in sales. Even if the small business does not want to accept bitcoin as payment, it can still sell bitcoin vouchers in their shop. This is a great way to gain new customers and capitalize on bitcoin's popularity without being exposed to bitcoin.
Many people sit on the sidelines waiting for things to happen at a global or national level. However, these grassroots movements are shining a light on bitcoin in their local communities. Small businesses and meetups are helping to promote adoption by education and engagement. They are showing their neighbors they don't have to give up their future financial prospects to an institution that destroys and seeks to destroy. These community leaders are now able to add fuel to the fire by offering bitcoin vouchers to make Bitcoin easily accessible to all within their community. They also educate and onboard billion more users.
Doug contributed this guest post. These opinions are not necessarily those of BTC Inc.
Title: The Importance Of Keeping Bitcoin Adoption Local
Sourced From: bitcoinmagazine.com/business/importance-of-keeping-bitcoin-adoption-local
Published Date: Tue, 20 Sep 2022 01:00:00 GMT