Becoming involved in Bitcoin marketing can be summed up in three sectors, including:
- the technology
- the asset
- exchange of the asset
These are the 3 main ways to become involved with Bitcoin in some capacity. While one may not directly utilize Bitcoin, you can certainly utilize the underlying technologies to boost your business. From there, you can expand into the digital currency itself and allow your business to grow from advertising the involvement your company has with Bitcoin.
Utilize the technology of Bitcoin to boost your business.
This article will guide you on the surface level of how to become involved with marketing Bitcoin, which can accent your current business plan.
First is the technology side of things. Bitcoin operates using the blockchain, which can be utilized in a few different ways. Recently, people have used blockchain technology to transmit information in a secure fashion.
Blockchain – A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
For example, Goldman Sachs tested using blockchain to transmit trades, and they found it was successful with 100% accuracy.
Your business may not use Bitcoin itself. If that’s the case, you can still market that your company is benefiting from the technology Bitcoin utilizes, though. That way you can attract eyes from this market to your business.
The Asset: Bitcoin
Next is the asset itself, which is Bitcoin. It is a type of cryptocurrency.
Cryptocurrency – A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Depending on your business and marketing ideas, you can utilize Bitcoin itself in a few different ways. The first is a store of value that eliminates the need of a transaction middleman. This improves speed and efficiency, benefiting all parties involved.
Some people prefer to only exchange money with Bitcoin. In that case, offering Bitcoin as an alternative payment method is a great way to attract these customers. The asset itself can bring value to your business and marketing campaigns by drawing in these people.
Exchanging the Asset
Lastly is the cryptocurrency exchange. You can exchange the asset – Bitcoin – quite easily, whether it be for US dollars or for a good or service. In addition, depending on your market, Bitcoin can be marketed as an alternative to transacting that will bring lower costs to your customers.
You can keep track of the value of Bitcoin using apps like Coinbase.
On the other side of the coin (no pun intended) Bitcoin can be marketed as a way to potentially increase your spending power. In this area you have to tread lightly because individuals can quickly lose money the same way they can potentially earn it.
Like stocks, the value of Bitcoin goes up and down daily, and often changes several times throughout the day. You can keep track of its value using an app like Coinbase.
These are three of the more common ways you and your business can become involved with Bitcoin and the marketing of the product. While Bitcoin and the acceptance of it is still in the infancy stage, there’s progress happening. Consequently, many businesses are beginning to accept it as payment and other are using it as a store of value. As mainstream media continues to acknowledge it as a viable asset, it only brings more potential to your business.
How to Become Involved in Bitcoin Marketing | EWR Digital – Houston, TX