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A major adoption wave forand cryptocurrencies, in general, will need progress to be made on both the supply and demand side.
Constant development, network upgrades, and the creation of new tools focused on cryptocurrencies guarantees that the domain is thoroughly studied in order to maximize its utility.
Layer 1 and layer 2 solutions for Bitcoin (BTC) and the Lightning Network built on top of Bitcoin has been in the spotlight for its rapid growth and potential impact on micropayments.(ETH) are showing how much potential there still is to unlock with a strong foundational network. For example,
As much as the crypto space needs continued in-depth development, it also needs to have a wider reach. This could translate into access to the Bitcoin network for a wider set of people. While many know, or at least have heard about Bitcoin, the complicated process of just buying bitcoins represents an obstacle for further adoption.
The latest development to tackle this issue comes from a few companies offering merchants the possibility to sell Bitcoin vouchers. The voucher represents the equivalent amount in bitcoins, with lower commissions. For merchants, it is just like having another product for sale and is easily integrated with current point of sales systems.
Merchants anywhere in the world can easily sell Bitcoin.
1. Swap your fiat for voucher-code that loads onto your A crypto wallet is a device or app that stores digital assets. Unlike the physical wallet in your back pocket,... More. Done.
— Max Keiser, tweet poet. (@maxkeiser) January 22, 2019
For everyone else, it is an accessible option to Buying your first Bitcoin can be an intimidating but highly rewarding process for new users. Therefore BeInCrypto has created a... More at the shop around the corner. The process is also relatively easy, as all a customer has to do after buying the voucher is enter in the code and wallet address to receive the equivalent amount of bitcoins.
As this brings the cryptocurrency frontier closer to the people, it also provides an alternative to buying Bitcoin via exchanges. Most prominent exchanges remain centralized and have implemented know your customer (KYC) measures, which eliminates any possibility of maintaining anonymity.
[bctt tweet=”Bitcoin vouchers are like having a LocalBitcoin location, only right around the corner!” username=”beincrypto”]
Similarly, people that remain unbanked have limited options to buy Bitcoin via exchanges and will now have the voucher solution available. Due to the accessibility and ease of use, these vouchers could put Bitcoin in the hands of a very wide range of people.
This type of product has huge potential for becoming viral and could spur the next wave of demand from retail investors. Furthermore, not only will more people learn about Bitcoin, but this could also contribute to a decentralized distribution channel for BTC.
How do you see this development? Would you use vouchers to acquire Bitcoin? Does this offer provide easier access to Bitcoin? Let us know your thoughts in the comments below!
Do you want to Be In Crypto?Join our Telegram Trading Group for FREE Trading Signals,a FREE Trading Course for Beginners and Advanced Tradersand a lot of fun! Images courtesy of Shutterstock, Trading View and Twitter.