Gradually Bitcoins and various altcoins are becoming more popular winning favourable attitude of millions around the world. However, this is only the beginning of the integration for cryptocurrencies in our daily life. The crypto community should take a number of steps in popularising this innovative peer-to-peer payment system. This will stimulate Bitcoin’s growth and solidify its position in the global financial sector.
In order to bring virtual currencies into masses we have to expend the crypto community and educate people about numerous benefits of using Bitcoins/altcoins whether as a payment method, a way of transferring money or investing. Key players of the Bitcoin community should increase the number of educational projects such as conferences and seminars. The Bitcoin network should also make closer ties with universities and colleges encouraging them to allow students to pay tuition fees with Bitcoins. Currently, several educational institutions such the University of Nicosia, the biggest private university in Cyprus, the University of Cumbria, a public university located in England, and King’s College, a four-year evangelical school based in Lower Manhattan, New York, receive Bitcoins for tuition fees. In spring 2012 UNic has even launched the first MSc Degree in Digital Currency, an online degree accessible to post-graduate students around the world.
We should not forget about the word-of-mouth power, which can be an effective way of strengthening Bitcoin’s reputation around the world. The benefits of Bitcoins are endless — payment freedom, low inflation risk, easy usage, low transaction fees, high level of security, anonymity etc. Tell your friends about the cryptocurrency; get them interested in this innovative payment method. Cryptocurrencies are stronger when backed up by a united global community.
And finally, by improving the Bitcoin infrastructure and increasing the number of businesses accepting Bitcoins we can lay a solid ground and build up a secure network for various cryptocurrencies. The business segment accepting Bitcoins is growing rapidly. Numerous startups and well-established companies let their clients pay with Bitcoins. Where there is demand, supply shall follow. Such global companies like WordPress.com and overstock.com already accept Bitcoins and the list just keeps on getting longer. Recently, it came to light that Dish Network, a satellite television based in Colorado with more than 14 million subscribers, allows customers to pay bills with Bitcoins.
We have to work together to promote Bitcoins and make them more acceptable. Let your vendors and suppliers know that you prefer Bitcoins as your payment method. This will definitely bring Bitcoins closer to the public — spread the word!