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WILL CRYPTOCURRENCY CROSSOVER INTO THE MAINSTREAM THROUGH BETTER EDUCATION?

Introduction As the cryptocurrency market dangles flirtatiously across key resistance levels throughout 2023 and the market enters its most prolonged downward movement, cryptocurrency traders anticipate…

Introduction

As the cryptocurrency market dangles flirtatiously across key resistance levels throughout 2023 and the market enters its most prolonged downward movement, cryptocurrency traders anticipate another imminent bull run. This year, plenty of positive news in cryptocurrency suggests some positive price action, from Ripple (XRP), finally beating the SEC in court to the world’s biggest institutional investment company BlackRock applying for a Bitcoin ETF. These are not attributes that define a dying market. However, any positive and consistent growth in price comes from the influx of retail traders, aka people who trade with their own money and not hedge funds, pension funds, etc.

Retail traders entered the market en masse in 2021 when the last bull run occurred, which saw useless cryptocurrencies like Dogecoin rally about $0.70. It was a frivolous time for many, but the inevitable monster crash the following year scared off millions of would-be investors. One of the few ways retail investors return to the cryptocurrency space is through education and knowledge of how crypto assets work, so how do educators and cryptocurrency enthusiasts even begin to bridge this gap?

Bridging The Gap

For cryptocurrency enthusiasts, finding ways to educate people who do not understand how cryptocurrency works is crucial. Many avenues have success, and one of the most fruitful is by showing investors that there are genuine use cases for these innovative digital assets. Gambling, for instance, is one area that is growing immensely in popularity, and it has been, for the last few years, especially mobile casino gaming.

Given that there are millions of gamblers worldwide, finding a way to gamble by removing the need for a bank, depositing securely, and not having to disclose a multitude of personal, sensitive financial data are all excellent, unique features that a casino should have. Only crypto casino gaming can offer this avenue for people who want all of these attributes from their gambling venture. Bitcoin games offer an identical service, just an alternate payment system. For many gamblers, it is the best current practical use case for educating people about cryptocurrency and its benefits.

Decentralized cryptocurrency casinos offer all the benefits and highlight why so many people choose cryptocurrency to gamble. Given the popularity of gambling, it could be an excellent bridge to onboard so many people to the positives of digital assets. In addition, it will highlight to them exactly why so many people are excited by the possibilities of cryptocurrencies like Bitcoin and Ethereum.

Education Is Key

An alarming number of people can say vociferously and with conviction that they believe cryptocurrency is a scam without actually understanding its basics. Unsurprisingly, the mainstream rhetoric is still one of general dismissiveness, and the overall disposition toward cryptocurrency is weighted toward ignorance and fear, which is unsurprising when you look at how the mainstream media highlights the negative components within the market much more so than the positives.

For example, Bitcoin is incredibly volatile, and people have lost a lot of money; you must always be aware that you can lose money in any investment. This isn’t unique to cryptocurrency. Millions of people lost their homes in the 2008 financial crash, ironically the whole reason Bitcoin rose to prominence in the first place.

Understanding that there is an inherent risk in any financial investment, especially in emerging markets like cryptocurrency, is the first pillar to understanding the market. The second point that should follow is understanding the basics of cryptocurrency, frictionless peer-to-peer transactions, and no hidden banking fees, all recorded publicly on a blockchain that is impossible to alter or amend due to the revolutionary cryptographic code embedded within these innovative, disruptive financial innovations.

How Could The Future Look?

Generally, Gen Z investors are more open to cryptocurrency ideas than Millennials and older generations. As ever, any significant societal change is usually driven by generations that have the desire and energy of youth to help force and enact the necessary change. One of the most critical aspects of Bitcoin is that this force will likely happen organically, dozens of industries will change forever because of blockchain technology, and it’s not a case of if it will happen, but when.

So long as people begin to educate themselves about how these assets work, with information readily available online, this will result in multiple people switching over to digital assets, as thousands of people already are with cryptocurrency casinos. Other avenues of education, such as blockchain conferences and effective government legislation, are also two avenues that help skeptical investors bridge the gap and learn about the benefits of digital assets.

Entire countries like El Salvador have introduced Bitcoin as a legal currency; the tides of change are knocking at the door of the traditional financial world, and understanding the significant innovations that are around the corner will help you to appreciate Bitcoin, Ethereum, and other cryptocurrencies for what they are. Regulatory approaches will be fundamental in how people view crypto in the next few years. Still, with multiple critical economies like the United Kingdom, Switzerland & The UAE open to having crypto projects set up their headquarters within their country, the future is looking bright.

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