expanded your audiance by accepting cryptocurrencies
Earning Economy Thoughts on crypto Trading Psychology

Grow your custormer base

You might be looking at a new way of accepting payment in your business, so why not look toward accepting cryptocurrencies, because this might grow your customer base. We will look at what type of people are in the cryptocurrency space so you might realise that many of your potential customers can pay you in cryptocurrencies.

The young geek

You might think the young geek as the only user of cryptocurrencies, they may the most significant segment. There are some other notable segments out there, but if your target consumer is in the age 15 – 30 a male then you will undoubtedly be able to attract costumers by accepting cryptocurrency as long as you make it clear that your business receives crypto.

The up and coming businessman

First of all, this might not be a man it might as well be a woman, but never the less it is a group of people who a looking for investments and ways to get luxury items paying the price it cost. This group of consumers usually are in the age 25 – 40 wanting to show off to the world. So are you selling luxury items you might want to consider accepting cryptocurrencies because you will be able to use this as part of securing the sale. The benefit for you is that you might save money on fees associated with accepting credit card.

The mother

We see a growing number of stay at home moms coming into cryptocurrency trading, they usually start finding it fun to trade Bitcoins, but as they get more secure on using Bitcoins, they move on to other cryptocurrencies. They are generally in it for the thrill of trading but if you usually target mother ages 35 – 45 it might secure you some extra sales by slapping on a “we accept cryptocurrencies” label on your commercials.

The father

Males ages 35 – 45 trying to stay young, but is set up with family are now coming into the cryptocurrency markets. Mostly because they think the can get rich of it but as they soon will learn it is not that simple, but they will come to use it as a medium of exchange, and even a way for them to purchase something without it appears on their bank statement. So if you are selling items to this group, you will probably benefit from accepting cryptocurrencies.

The ones you won’t reach

There are some groups you will never reach by accepting cryptocurrencies it is the traders who are only in it for the trade, then there is the passionate HODLer which is in it for holding on to it, and the last group is the institutional investors they are also just in it for the trade.

What can you do

For a start you need a payment solution for that I will refer you to our article on payment solutions which can be found here. besides that, you might want some commercials made highlighting the fact that you accept cryptocurrencies and if you need help making them you can hire a freelancer at Fiverr to prepare them for you click here to get there

The Golden boy
I have a long background in cryptocurrencies, I first heard of Bitcoin back in 2011, did take much notice of it back then, but as time went on, I have got more and more into the idea of a decentralised economy. And have slowly accumulated cryptocurrencies since around 2013, since I didn’t have a lot of money at the time I started slowly. I thought of it more as a statement than an investment. It is first in 2016 I began to see how significant a potential there were in bitcoin and other cryptocurrencies.

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