How Bitcoin Impacts Digital Marketing
This post isn’t about investing in bitcoin, it’s for marketing pro’s to learn how bitcoin impacts digital marketing for the better, see how.
For many of us the idea of Bitcoin is still pretty new, but for those marketers who are dipping their toes into crypto, there are some benefits when it comes to digital marketing.
Cryptocurrency is still a new concept to many people. Apart from Ethereum, Bitcoin is another example of cryptocurrency. A unique thing with cryptocurrencies is that they’re not regulated, and you can only hold them in digital form. If you’re new to digital money and wondering what cryptocurrency is, keep reading. It simply refers to virtual currency protected using cryptography, making it impossible to counterfeit or spend twice.
Additionally, cryptocurrencies use blockchain technology made of distributed ledgers powered by state-of-the-art computers. Because central banks don’t regulate them, they’re free from government interference.
For those of us who still don’t really have a grasp of what the Hell Bitcoin is, let’s get a better understanding of it to see how bitcoin impacts digital marketing.
One of the giant puzzles for you may be how to mine Bitcoin. Nonetheless, you may not need to go for a month’s training to understand the drill.
To begin with, you need to install a crypto mining app on your computer. There are many crypto mining apps available for you. Regardless of your computer’s operating system, you can readily get a suitable app Such apps are owned by cryptocurrency exchanges that facilitate the purchase or mining of Bitcoins.
There are a few ecommerce sites that allow buying using cryptocurrencies. However, bitcoin acceptance is growing much slower. What’s worth-noting is that cryptocurrencies are hardly used for retail transactions.
On the other hand, the value of the digital currency is improving at an alarming rate, leveling up acceptance by traders, especially for cross-border transfers.
After spending some time in the trade and knowing the tricks, mining one Bitcoin can take you approximately ten minutes. However, it’d help if you had an efficient app, and a computer or a smartphone.
Storage And Security
You can accumulate your Bitcoins to a large amount that they need to be kept safely. You might be aware that online transactions are at risk and can be compromised through phishing and DDoS attacks. As a result, you have to store your information privately and securely. Therefore, once you’ve mined your Bitcoin, you can store it in an anonymous wallet.
Bitcoin wallets are websites that offer you safe storage for your cryptocurrency. Apart from a secure digital wallet, you can get other tools, like chatbots, to help you automate your mining processes and streamline your portfolio management from the same websites. Moreover, most digital wallets are free except for a small commitment fee. Additionally, there’s no requirement for ID verification, thus, boosting your anonymity.
Effects of How Bitcoin Impacts Digital Marketing
Cryptocurrency is transforming the way digital marketing space is conducted today. Here’s how Bitcoin impacts digital marketing:
1. Easy Payment
Digital marketing attracts both sellers and buyers. In this space, online marketers, such as Amazon and eBay, are leaders facilitating millions of sellers and buyers on their ecommerce platforms. If you’re using other payment methods apart from cryptocurrencies, you must give the account details that you must verify. As a result, the process may feel tedious, complex, and time-consuming.
However, transactions are simplified when you use cryptocurrencies because intermediaries aren’t needed. Moreover, digital money is accepted as a legal tender for purchasing goods and services. Because cryptocurrency allows anonymity, there’s no requirement to verify your bank account. Therefore, buying and selling products online become fast and straightforward.
2. Basic Attention Tokens (BAT) Technology
This digital advertising technology allows users, publishers, and advertisers to communicate from a decentralized place. Essentially, BAT is established on the blockchain network. Within this network, users are paid for watching ads, in which non-important expenses are removed.
3. Possibility Of Autonomy And Anonymity
In ecommerce platforms, risks, such as user data being stolen and sold in dark outlets, have been a scare to many users. There have been instances wherein user data have been sold on social networking sites to facilitate specific ad targeting.
However, leveraging cryptocurrency blockchain technology removes the potential risks. Information about users is securely kept in block ledgers. These ledgers are secure from cybersecurity threats, guaranteeing proof from manipulation, theft, or selling to other people.
4. Facilitates Cross-Border Trade
Business across countries can be complex. You have to change your money from one currency to another. In addition, there are charges for currency conversion.
However, cryptocurrencies are universal, regardless of the country you live in. As a result, international trade is simple. In addition, cryptocurrencies aren’t like regular currencies that appreciate or depreciate to stronger currencies. It’s because governments don’t regulate cryptocurrencies. As a result, their valuation is constant across borders.
Based on the nature of Bitcoin, small businesses can take part in international trade. In effect, it expands the economy and boosts profits.
5. Customers Are Engaged Directly
Adopting cryptocurrency will eliminate cookies that monitor social media users’ activities in the background. Advertising companies rely on cookies information to carry out targeted ads. Advertising companies get such data from Facebook and other social media platforms.
There’ll be no information to sell to advertising companies if cookies aren’t in use. In effect, these companies will have to buy such data from customers directly.
6. Boosts Consumer Privacy And Security
Data theft relating to online bargaining and exchanging financial-related data has been a threat for decades. However, blockchain technology comes in with measures to mitigate these threats. Besides, the transmitted information can be seen, but the parties involved are anonymous. Albeit, even with anonymity, a client has the freedom of deciding the kind of information to share.
7. Improves Authenticity And Straightforwardness
Usually, blockchain is decentralized. As a result, buyers can identify information related to a specific product, such as where it was produced and manufacturer, among other details. With that said, blockchain boosts straightforwardness to ensure informed decisions.
8. Eliminates Fake Parties
Even though digital marketing is gaining traction quickly, it’s also attracted fake actors among genuine ones. The fake advertisers have created cons who trade counterfeit items, making buyers skeptical of trusting commercials. With no parties involved, it’s easy for you to manage distributors and make advertising more effective.
This article illustrates how Bitcoin impacts digital marketing in positive ways. Along with this, it’s expected that cryptocurrency use will continue to grow steadily. As a result, large and small business enterprises ought to adapt to this mode of payment. After all, you’re guaranteed safety due to Bitcoin’s anonymity. With anonymity, it enhances data safety. In addition, you’ll enjoy easy cross-border payment as you don’t have to convert Bitcoin before sending the currency to another country.