Is Cryptocurrency the Future of Money?

What will the future of money look like? Imagine walking into a restaurant and looking up at the digital menu board at your favorite combo meal. Only, instead of it being priced at $8.99, it’s shown as.009 BTC.Can crypto really be the future of money? The answer to that question hinges on the overall consensus on several key decisions ranging from ease of use to security and regulations.Let’s examine both sides of the (digital) coin and compare and contrast traditional fiat money with cryptocurrency.The first and most important component is trust.
It’s imperative that people trust the currency they’re using. What gives the dollar its value? Is it gold? No, the dollar hasn’t been backed by gold since the 1970s. Then what is it that gives the dollar (or any other fiat currency) value? Some countries’ currency is considered more stable than others. Ultimately, it’s people’s trust that the issuing government of that money stands firmly behind it and essentially guarantees its “value.”How does trust work with Bitcoin since it’s decentralized meaning their isn’t a governing body that issues the coins? Bitcoin sits on the blockchain which is basically an online accounting ledger that allows the whole world to view each and every transaction. Each of these transactions is verified by miners (people operating computers on a peer to peer network) to prevent fraud and also ensure that there is no double spending. In exchange for their services of maintaining the integrity of the blockchain, the miners receive a payment for each transaction they verify. Since there are countless miners trying to make money each one checks each others work for errors. This proof of work process is why the blockchain has never been hacked. Essentially, this trust is what gives Bitcoin value.Next let’s look at trust’s closest friend, security.
How about if my bank is robbed or there is fraudulent activity on my credit card? My deposits with the bank are covered by FDIC insurance. Chances are my bank will also reverse any charges on my card that I never made. That doesn’t mean that criminals won’t be able to pull off stunts that are at the very least frustrating and time consuming. It’s more or less the peace of mind that comes from knowing that I’ll most likely be made whole from any wrongdoing against me.In crypto, there’s a lot of choices when it comes to where to store your money. It’s imperative to know if transactions are insured for your protection. There are reputable exchanges such as Binance and Coinbase that have a proven track record of righting wrongs for their clients. Just like there are less than reputable banks all over the world, the same is true in crypto.What happens if I throw a twenty dollar bill into a fire? The same is true for crypto. If I lose my sign in credentials to a certain digital wallet or exchange then I won’t be able to have access to those coins. Again, I can’t stress enough the importance of conducting business with a reputable company.The next issue is scaling. Currently, this might be the biggest hurdle that’s preventing people from conducting more transactions on the blockchain. When it comes to the speed of transactions, fiat money moves much quicker than crypto. Visa can handle about 40,000 transactions per second. Under normal circumstances, the blockchain can only handle around 10 per second. However, a new protocol is being enacted that will skyrocket this up to 60,000 transactions per second. Known as the Lightning Network, it could result in making crypto the future of money.The conversation wouldn’t be complete without talking about convenience. What do people typically like about the their traditional banking and spending methods? For those who prefer cash, it’s obviously easy to use most of the time. If you’re trying to book a hotel room or a rental car, then you need a credit card. Personally, I use my credit card everywhere I go because of the convenience, security and rewards.
Did you know there are companies out there providing all of this in the crypto space as well? Monaco is now issuing Visa logo-ed cards that automatically convert your digital currency into the local currency for you.If you’ve ever tried wiring money to someone you know that process can be very tedious and costly. Blockchain transactions allow for a user to send crypto to anyone in just minutes, regardless of where they live. It’s also considerably cheaper and safer than sending a bank wire.There are other modern methods for transferring money that exist in both worlds. Take, for example, applications such as Zelle, Venmo and Messenger Pay. These apps are used by millions of millennials everyday. Did you also know that they are starting to incorporate crypto as well?The Square Cash app now includes Bitcoin and CEO Jack Dorsey said: “Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for our industry, and we want to learn as quickly as possible.”
He added, “Bitcoin offers an opportunity to get more people access to the financial system”.While it’s clear that fiat spending still dominates the way most of us move money, the fledgling crypto system is quickly gaining ground. The evidence is everywhere. Prior to 2017 it was difficult to find mainstream media coverage. Now nearly every major business news outlet covers Bitcoin. From Forbes to Fidelity, they’re all weighing in with their opinions.What’s my opinion? Perhaps the biggest reason Bitcoin might succeed is that it’s fair, inclusive and grants financial access to more people worldwide. Banks and large institutions see this as a threat to their very existence. They stand to be on the losing end of the greatest transfer of wealth the world has ever seen.Still undecided? Ask yourself this question: “Are people trusting governments and banks more or less with each passing day?”Your answer to that question just might be what determines the future of money.

Here Is How Bitcoin Works in the World of Cryptocurrency

In case you don’t know, bitcoin is a type of decentralized network of cryptocurrency. In this process, transactions are based on a 16-character encrypted address. In simple words, it is just like your social security number. As far as security is concerned, only you can transfer the funds as you have the address, which involves two-factor verification. Actually, bitcoin consists of a network of several independent computers that are responsible for generating, propagating, and verifying monetary transactions. Let’s find out more.How Do you Purchase Bitcoin? If you want to purchase Bitcoin, make sure you install the wallet app on your computer. With this app, you can send and receive as much Bitcoin as you want.For purchasing Bitcoin, you are required to deposit funds into your web-based wallet that acts as a bridge between sellers and buyers.After the exchange accepted your currency, your next move is to place an order, which is just like buying a stock.How do Bitcoin Works? Basically, Bitcoin is an international, decentralized peer-to-peer network. Given below is a description of how Bitcoin works.1. First of all, mines create Bitcoin with the help of computers in order to solve mathematical functions. And then there is a process that verifies the transactions.2. In the next stage, traditional currencies are used for the Bitcoin exchange trade. Actually, it works like a gateway into the world of cryptocurrency, especially for non-miners. We can say that it is just like purchasing stocks using a trading application.3. Whether you are an individual or a businessman, you can create wallets to send or receive Bitcoins. If you have used a PayPal account, you can easily use this type of wallet as well. The good thing about cryptocurrency is that it is based on a secure network. Apart from this, it makes all of the transactions are completely safe.Can you mine Bitcoins at Home? If you are interested in mining Bitcoin at home, the description given below can help you get started.Cryptocurrency Mining Mining cryptocurrency is an approach that involves corroborating cryptocurrency transactions and making entries in the blockchain ledger. If you want to authorize or mine cryptocurrency transactions, you have to compete with many other minors by doing complex calculations. This type of processing requires a great deal of processing power.As soon as the transaction is done, the system rewards you with bitcoin or any currency you are mining.Can you use your Laptop for Mining Bitcoins? The good news is that you can use your laptop for mining Bitcoin. However, the million-dollar question is, can this can make you enough money? The short answer is, no. Although you can mine using your laptop, you won’t make more than pennies, which is not worth it.In other words, you need an extremely powerful computer with multiple graphics cards to enjoy the highest mining speed.So, if you are interested in mining or investing in Bitcoin, you can follow the advice given in this article.

Has Cryptocurrency Become Every Indian’s Dream Investment?

Rich rewards often entail great risks, and the same is true with the highly volatile cryptocurrency market. The uncertainties in 2020 globally led to a heightened interest of masses and large institutional investors in trading cryptocurrencies, a new-age asset class. Increasing digitization, flexible regulatory framework, and supreme court lifting ban on banks dealing with crypto-based companies have parked investments of more than 10 million Indians in the last year. Several major global cryptocurrency exchanges are actively scouting the Indian crypto market, which has been showing a sustained surge in daily trading volume over the past year amid a big drop in prices as many investors looked at value buying. As the cryptocurrency frenzy continues, many new cryptocurrency exchanges have come up in the country that enables buying, selling, and trading by offering functionality through user-friendly applications. WazirX, India’s biggest cryptocurrency trading platform doubled its users from one million to two million between January and March 2021.What’s Driving World’s Largest Crypto Exchanges to the Indian market?
In 2019, the world’s largest cryptocurrency exchange by trade volume, Binance acquired the Indian trade platform, WazirX. Another crypto start up, Coin DCX secured investment from Seychelles-based BitMEX and San-Francisco based-giant Coinbase. The crypto and blockchain start-ups in India have attracted investment of USD99.7 million by June 15, 2021, which totaled around USD95.4 million in 2020. In the last five years, global investment in the Indian crypto market has increased by a whopping 1487%.Despite India’s unclear policy, global investors are making huge bets on the country’s digital coin ecosystem due to a variety of factors such as• Tech-savvy Indian Population
The predominant population of 1.39 billion are young (median age between 28 and 29 years) and tech-savvy. While the older generation still prefers to invest in gold, real estate, patents, or equities, the newer ones are embracing the high-risk cryptocurrency exchanges as they are more adaptable to them. India ranks 11th on Chainalysis’s 2020 report listing for global adoption of crypto, which shows the excitement about crypto among the Indian population. Nor does the less-than-friendly attitude of the government towards crypto or rumors swirling around the crypto are able to shake the confidence of the youth population in the digital coin market.India offers the cheapest internet in the world, where one gigabyte of mobile data costs around $0.26 while the global average is $8.53. So, almost half the billion users are taking advantage of affordable internet access, which enhances India’s potential to become one of the largest crypto economies in the world. According to SimilarWeb, the country is the second-largest source of web traffic to peer-to-peer bitcoin trading platform, Paxful. While the mainstream economy is still struggling from the “pandemic effect”, cryptocurrency is gaining momentum in the country as it provides the young generation a new and fast way of earning money.It is safe to say that cryptocurrency might become Indian millennials what gold is for their parents!• Rise of Fintech Start ups
The cryptocurrency craze led to the emergence of multiple trading platforms such as WazirX, CoinSwitch, CoinDCX, ZebPay, Unocoin, and many others. These cryptocurrency exchange platforms are highly secured, accessible across various platforms, and allow instant transactions, providing a friendly interface for crypto enthusiasts to buy, sell, or trade digital assets limitlessly. Many of these platforms accept INR for purchases and trading fees as low as 0.1% so simple, fast, and secure platforms present a lucrative opportunity for both first-time investors and local traders.WazirX is one of the leading cryptocurrency exchange platforms with over 900,000 users that provides customers with peer-to-peer transaction capabilities. CoinSwitch Kuber provides the best cryptocurrency exchange platform for Indians and is ideal for beginners as well as daily doers. Unocoin is one of the oldest cryptocurrency exchange platforms in India that account for over a million traders through mobile applications. CoinDCX provides users with 100+ cryptocurrencies as an option to make exchanges and even provides investors with insurance to cover losses in case of a security breach. So, global investors are eyeing the plethora of cryptocurrency exchange platforms in India to take advantage of the emerging market.• Mixed Government Response
The legislative bill regarding a ban against a virtual currency that would criminalize anyone engaged in possession, issuance, mining, trading, and transferring crypto assets might get enacted into law. However, Finance and Corporate Affair Minister Nirmala Sitharaman eased some investor’s concerns saying that the government has not planned to completely bar cryptocurrency use. In a statement given to a leading English newspaper, Deccan Herald, the Finance Minister said, “From our side, we are very clear that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins, or cryptocurrency.” It is evident that the government is still scrutinizing the national security risks posed by cryptocurrencies before deciding on putting a complete ban.In March 2020, the Supreme court overturned the central bank’s decision to ban financial institutions from dealing in cryptocurrencies, which prompted investors to pile into the cryptocurrency market. Despite the lingering fear of ban, transaction volumes continued to swell, and user registration and money inflows at local crypto-exchange became 30-fold from a year ago. One of India’s oldest exchanges, Unocoin added 20,000 users in January and February of 2021. The total volume of Zebpay per day of Feb 2021 got equivalent to the volume generated in the whole month of Feb 2020. Addressing the cryptocurrency scenario in India, the Finance Minister said in a CNBC-TV18 interview, “I can only give you this clue that we are not closing our minds, we are looking at ways in which experiments can happen in the digital world and cryptocurrency.”Rather than sitting on the side-lines, investors and stakeholders want to make the best of proliferating the digital coin ecosystem until the government introduces the ban on “private” cryptocurrency and announced sovereign digital currency.Is India Heading Towards Financial Inclusivity with Cryptocurrency?
Once considered a “Boys club” due to predominant male population engagement in the cryptocurrency market, the steadily rising number of women investors and traders has led to more gender neutrality in the new and digital form of investment methods. Earlier, women used to stick to traditional investments but now they are becoming risk-takers and venturing into the crypto space in India. After the apex court clarified the legality of “virtual currency”, the Indian cryptocurrency platform, CoinSwitch witnessed an exponential 1000% increase in its women users. Although women investors still make up a small percentage of the crypto community, they are putting up fierce competition in the Indian market. Women tend to save a lot more than their male counterparts and more savings means more diversity in investments such as high-return assets like cryptocurrencies. Also, women are more analytical and better at evaluating risks before making the right investment choices, so they are more successful investors.Increasing Mainstream Institutional Adoption of Cryptocurrencies
Uncertainty and panic aroused by SARS-Covid 19 led to a liquidity crisis even before the economic crisis set off. Many investors converted their holdings into cash to safeguard their finances, which resulted in the collapsed prices of bitcoin and altcoin. But even though crypto suffered a major crash, it still managed to be the best performing asset class of the year 2020. With the increased vulnerability of the system and loss of trust in the policies of the central bank and money in its current design, people have an increased appetite for digital currencies which resulted in the rebound of cryptocurrency. Due to the stellar performance of cryptocurrency in the middle of the global financial crisis, the uptrend has strengthened interest in the virtual currency market in Asia and the rest of the world.Furthermore, to fuel society’s demand for convenient and reliable transaction solutions, digital payment gateways such as PayPal have also shown their support towards cryptocurrencies that can enable consumers to hold, buy, or sell with virtual assets. Recently, Tesla CEO Elon Musk made an announcement of investment in the cryptocurrency market worth USD1.5 billion, and that the electric company would accept bitcoin from buyers, which led to an international bitcoin price jump from USD40,000 to USD48,000 within two days. Two of the biggest platforms for making payments across the world, Visa and Mastercard are also endorsing cryptocurrencies by introducing them as a medium to make transactions. While Visa has already made the announcement of allowing transactions with stable coins on the Ethereum blockchain, Mastercard would begin transactions with crypto sometime in 2021.What does the future hold for the Cryptocurrency market in India?
The Indian cryptocurrency market is not immune to the terrible crypto crashes. Despite humongous investment from global counterparts, local investors are still maintaining distance from crypto investments due to uncertainty about the legality of the digital coin ecosystem in India as well as the high volatility of the market. Although the cryptocurrency market is booming since last year, Indians own less than 1% of the world’s bitcoin, which creates a strategic disadvantage for the Indian economy. The Indian government is planning to appoint a new panel to study the possibility of regulating digital currencies in the country as well as focus on blockchain technology and propose it for technological enhancements.The capability of blockchain technology to provide a safe and immutable infrastructure has been realized by various industries to instill transparency in transactions. For a country with over 15 million crypto adopters, the new recommendation from the committee could hold great value to determine the future of cryptocurrency in India. However, the stakeholders believe that the technical and economic power will make India a key player in the crypto and blockchain market. Gradually, the cryptocurrency is gaining mainstream acceptance, which could lead to higher adoption of digital currency.According to another TechSci Research report on “India Cryptocurrency Market By Offering (Hardware & Software), By Process (Mining & Transaction), By Type (Bitcoin, Etgereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency), By Region, Forecast & Opportunities, 2026″, India cryptocurrency is anticipated to grow at a significant CAGR owing to increasing requirement for transparency and reduction in transaction costs. Additionally, rising adoption of digital currency and growing blockchain technology are fuelling India cryptocurrency market.

How We Helped A Local Consultant Get More Visibility (And Become A Bestselling Author!)

A Case Study On Douma Leadership
Apologies if I sound like a broken record, but there are some things that are so important in the world of digital marketing, that I can’t say them enough.

One: you need a good website.

And two: a good website isn’t enough.

Even if you know this, of course, there’s a difference between knowing and doing. And it’s easy for small business owners and entrepreneurs to struggle with information overload when it comes to marketing.

That was the case for our client, Yvonne Douma.

Yvonne is just about the friendliest and most knowledgeable communication coach and HR professional you’ll ever meet.

But she came to us with lackluster marketing materials that we’re serving her. She didn’t have any kind of digital marketing strategy, and she was unsure how to get one.

Yvonne knew something wasn’t working, but she didn’t know how to get to where she wanted to go. If only she could connect with the right people, they’d see what amazing qualities she brings to the table. And that’s where we came in!

Over the past year, we have helped Yvonne with brand redesign, responsive website design, copywriting, social media marketing and advertising, and content marketing for her professional services company, Douma Leadership.

We also provided the absolutely necessary cherry on top of all these services – strategic consulting (my favourite!).

Throughout the process, we’ve helped Yvonne clarify her services and her brand and discover an online voice she can be proud to share with the world.

Oh, and we also helped her become a best-selling, self-published author, too (no biggie!)

It’s been our pleasure to work with Yvonne, and we look forward to even more success together in 2022.

“I needed to completely rebrand my business and reached out to us for help,” she says. “My website is professional, easy to navigate and looks great! Susan and her team have been supportive, encouraging, and are challenging me to put myself out there and have the courage to be seen.”

If you’d like to help your small business achieve happy people and healthy profits through leadership development, HR consulting, and conflict resolution, we can’t recommend Yvonne highly enough.

And if you’d like to know more about how we’ve helped Yvonne develop her online voice to reach more clients, keep reading!

Step One: Strategy
You wouldn’t put together an Ikea bookshelf without consulting the instructions first, and that’s just a few boards of wood and some screws.

Yet many small business owners jump right into the deep end of the digital marketing pool, without any plan at all. Sometimes they can’t even swim!

And that’s where business marketing strategy consulting comes into play.

As a personal business marketing strategy consultant, I work one-on-one with my clients to make their marketing more powerful and effective than ever before. I LOVE seeing people have big breakthroughs and finally understand what to do and how to do it (and when these people are as delightful as Yvonne? Bonus!).

For Yvonne, this has meant regular meetings to gain clarity on her business model, define her ideal target market, and brainstorm develop marketing strategies best for her business.

Yvonne and I still meet regularly, and I always look forward to our Zoom sessions. We use them to ensure we stay on track and keep innovating.

Step Two: Refining Yvonne’s USP & Refreshing Her Website

Many times, clients come to my team with a website and brand that just aren’t up to snuff. This was the case with Yvonne, who’d already put some effort into her online marketing.

Thankfully, all we needed to do was tidy up her logo, but she otherwise had a brand that we both agreed suited her well.

But her old website was not serving her. Not only did it look dated, but it also didn’t give a complete picture of the services and quality that Yvonne brings to the table.

So our team went to work, building a responsive and SEO website that did a much better job explaining Yvonne’s unique selling position (USP).

One of the many great things about having a web development company on your side is that your website can be easily updated. Over the months and through our sessions together, Yvonne and I further whittled away at brand, coming up with new and improved services and offerings.

And since we built the website, updating it with new content and services is a simple and pain-free process.

Step Three: Create A Landing Page
Websites are great, of course, but they’re only one type of online property that can help grow a business. That’s why we like to help clients launch landing pages as well.

A landing page is a stand-alone, one page website with a very specific purpose. They’re a very useful tool to have in your toolkit.

For Yvonne, we created a landing page around a special webinar she created to help women in the workplace take their power back. In order to get the free presentation, people had to sign up with their emails.

So the specific purpose of this landing page is to collect email addresses so that Yvonne can grow her mailing list. And while we’re doing that, we’re sharing a great resource that personalizes Yvonne and helps potential clients grow to know, like, and trust her. Win-win-win.

Step Four: Promote, Promote, Promote
Even when you have a great SEO website like we prepared for Yvonne, it can still take months to start showing up in search results – that’s just the way Google works.

And most business owners I know aren’t willing to sit on their hands for a few months!

That’s why we coupled the launch of Yvonne’s website and landing page with a smart social media strategy.

This included carefully curating content for her Facebook, Instagram, and LinkedIn accounts, which showcased her expertise, her experience, her services, and her personality. We did this through custom graphics, as well as by an assortment of different content.

We’ve also encouraged Yvonne to put herself out there as much as possible – and when she does, she always gets great results!

Step Five: The Book
When you have as much knowledge and information to share as Yvonne does, a book is often a next logical step – especially when you’re concurrently trying to grow your business and your social media following.

A book is one of the best ways to really connect with potential customers. In this way, it’s an invaluable piece of marketing in its own right. And simply having a best selling book is a great way to establish yourself as an expert (not to mention crossing a ‘to do’ off the bucklet list!).

First, here is another big kudos to Yvonne. You can tell from the first page that REFRAME is a labour of love, and that Yvonne knows her stuff when it comes to relationships and communication. If you could use a blueprint to better communication skills, we highly recommend you check out REFRAME: How To Change Your Conversations To Resolve Those Messy Conflicts.

Moreover, marketing a book takes a lot of effort, even when you’ve got a marketing team by your side. We all rolled up our sleeves to market the heck out of REFRAME this past summer, and those efforts paid off. For Yvonne, this meant getting outside of her comfort zone to make online videos to promote the book launch.

First, we started with (you guessed it), a landing page, which we released prior to launch day. We used it to drum up excitement, introduce readers to Yvonne, and encourage interested people to sign up for notifications.

Next up, we developed a campaign with special bonuses to encourage people to buy on launch day. This included paid social media and Google ads, a concerted email campaign, a press release, and extra organic social media.

The end result? Yvonne shot up to the top of the Amazon best seller list in her category, and she can now proudly call herself a self-published, best-selling author.

And not surprisingly, REFRAME is ranked 5 stars!

Step Six: The Sky’s The Limit
One of the things I love the most about my job is how much my clients inspire me. When I think about everything Yvonne has accomplished in the past year, I get goosebumps! I also get exceptionally proud of my team, who have worked hard to help make Yvonne’s vision a reality.

And of course, that vision continues to grow!

We’re proud to support our clients throughout all their unique journeys. Working for yourself is definitely challenging, which is why it’s helpful to have an award-winning digital marketing agency in your corner.

If you could use help creating your brand, showcasing your business, and nurturing your dream to a reality, please reach out! We’re a full service agency, and we’d love to help you, just like we helped Yvonne!

To Your Business Success,

Susan

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media, is a Web Specialist, Business & Marketing Consultant, and Social Media Advisor. She works with entrepreneurs who struggle with having the lack of knowledge, skill and support needed to create their online business presence.

As a result of working with Susan and her team, clients feel confident and relieved knowing their online marketing is in trustworthy and caring hands so they can focus on building their business with peace of mind at having a perfect support system in place to guide them every step of the way.

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