Although the cryptocurrency sector is already very popular, there still are a lot of people who are uninvolved or uninterested in the sector. According to an estimate from crypto payments infrastructure provider Triple-A, the global crypto ownership rate as of 2024 is 6.8%. This means that the majority of people are still not invested.
Despite the low adoption, crypto use cases are expanding. While some people may enter the sector on their own, crypto enthusiasts may be able to contribute to the sector’s adoption if converting friends and family into investors is considered as important as other crypto-related activities. The following are a few activities that can simplify the process of integrating newbies into the crypto sector:
Suggest Crypto Games
The crypto and blockchain industry has revolutionized several sectors, including gaming, bringing gamers a world of new possibilities. Crypto enthusiasts can use this fun method to attract people to the industry, whether or not they are already gamers. For instance, friends and family members can try playing games like cryptoslots, which runs like the traditional slots online casino game, but with more features and variations than conventional methods. Users may also enjoy faster transactions conducted via a blockchain network, in addition to a wide range of cryptocurrency options to choose from. Furthermore, platforms that offer crypto games provide users with larger and more rewarding bonuses, which can be an attractive and compelling way to attract newbies to crypto.
Discuss Financial Benefits
The financial benefits of crypto are extensive and possibly the most popular function of the technology. Cryptocurrencies have brought significant changes to the financial sector, changes that are easy to highlight and use as a selling point to draw people into the industry.
For instance, cryptocurrencies allow users to transact with little to no charges. Assets like XRP significantly solve the problem of cross-border transactions so that people who need international fund transfers can do so without losing a chunk of value to charges. One of the largest transactions recorded is a payment on February 23, 2024, when an unknown user moved 26,139.38 BTC, worth about $1.347 billion at the time, and only paid $2.06 in transaction fees.
Another benefit attractive to newbies is crypto’s transaction speed. Since most cryptocurrencies are decentralized, no middlemen or intermediaries delay the process. Although other factors like network congestion can “delay” transactions, crypto payments are sometimes settled within a few seconds.
Furthermore, crypto is accessible and is not plagued by jurisdictional limitations. Anyone anywhere in the world can use any internet-enabled device to buy, sell, or trade crypto.
Explain Earning Opportunities
Crypto is a very popular medium of exchange. Instead of fiat, many people use cryptocurrencies to pay for goods and services, especially for online trades. However, cryptocurrencies also offer numerous earning opportunities that may be appealing to friends.
For instance, people can earn passive income by staking tokens on platforms like Cardano or Ethereum. There also is the opportunity for yield farming on decentralized finance (DeFi) platforms like Compound or Aave. In addition, friends can earn from buying and holding a promising asset until the price spikes.
Furthermore, people may be interested in earning from non-fungible tokens (NFTs). Friends may explore NFT marketplaces like OpenSea and learn how to mint and sell tokens for profit.
Share Social Media Posts
Social media is an effective tool to spark interest and curiosity across sectors. People looking to expose friends and family members to crypto can begin by sharing posts, news articles, infographics, and other thought-provoking posts highlighting the industry’s potential.
Also, several accounts are controlled by popular crypto stakeholders on X, each sharing everything from personal opinions to regulatory updates. In addition, crypto influencers create content that simplifies crypto and blockchain technology so anyone can easily understand. In addition to X, many subreddits on Reddit allow users to ask questions and learn from experts.
Offer Direct Help
A direct offer of assistance should be part of any strategy convincing people to join crypto. This can include help with choosing a reliable exchange, like Binance or Coinbase, or assistance with wallet setup. It might also be necessary to explain the basics of cold and hot wallets and help to set up a Ledger or Trezor wallet where people are interested in or prefer the hardware option. In addition to the above, consider walking them through their first crypto purchase and showing them multiple purchase options, including card and peer-to-peer payments.
Additionally, new users should be taught about blockchain security and scams. They should learn how to spot and avoid scams so that they maintain interest and confidence in the sector.
Use Referral Programs
One of the easiest ways to get friends involved in crypto is through referral programs offered by many wallets and exchanges. These programs provide benefits to the new user and the inviter, such as free assets or a reduction in trading fees. There may also be several other perks available to new users through referral programs. These perks vary between trading platforms and are sometimes enticing enough to retain a new user’s commitment.
Send them Some Crypto
Friends might be a bit more willing to start trading if you send them some crypto. Sending your friends $1 or $2 in Bitcoin (BTC) or Ether (ETH) indicates the ease and speed of crypto transactions. This is also a great way to show the different methods of sending crypto, which include copying and pasting the address and scanning QR codes.
In addition, sending crypto helps to teach newbies about digital assets on several blockchains, as well as the importance of selecting the right network when sending funds. Where there is a physical crypto ATM, consider showing friends how to use one to exchange digital assets for cash.
Why Your Friends Should Use Crypto
In addition to the specific perks, explain to them that crypto presents an easy opportunity for growth with a low entry barrier. Anyone can trade crypto, simply hold, or consider staking and yield farming to enjoy handsome returns.
Another argument is that crypto is a new iteration of money, past traditional digital fiat. Crypto’s ease and decentralization mean it will likely always be around, whether as BTC, ETH, or USDT. Since the world is becoming more digital, crypto is likely going to enjoy top status for a very long time.
