Why Crypto Hodlers Should Stop Thinking Crypto As Digital Asset
Many people who invest in cryptocurrency do so with the mindset that they are buying digital assets. While it’s true that cryptocurrencies are digital assets, they are so much more than that. At their core, cryptocurrencies are currencies. They are a medium of exchange that can be used to purchase goods and services.
One of the biggest challenges facing cryptocurrencies right now is widespread adoption. In order for cryptocurrencies to be truly successful, they need to be used by regular people in their everyday lives.
Unfortunately, most people are still unfamiliar with how cryptocurrencies work and what they can be used for.
This is where our Web2-to-Web3 (W2W3) strategy comes in. This strategy is all about acquiring new non-crypto users and getting them to use cryptocurrency.
Essentially, it’s a way for Web2 companies to build a pool of Web3 users by integrating cryptocurrencies into their existing Web2 infrastructure.
This could take the form of accepting cryptocurrency payments (BTC or common stablecoins like USDT/USDC) for goods and services or offering rewards in cryptocurrency for completing certain tasks.
By accepting tokens as currency, Web2 companies can acquire new non-crypto users and convert them into Web3 users. But this doesn’t just stop with e-commerce players. Any companies or projects can use the Web2 to Web3 strategy to get non-crypto users into the crypto world.
Once we have more people using crypto as currency, we could see mass adoption. So let’s start thinking of cryptos as currencies.
There are endless possibilities for how this strategy can be implemented.
Ways W2W3 Strategy Can Be Implemented
1. Merchant Payment Services: By integrating cryptocurrency payments into existing merchant payment systems, merchants can make it easier for customers to pay with crypto.
2. Rewards Programs: Companies can offer rewards in the form of cryptocurrency for completing certain tasks or shopping at the companies’ stores. This encourages more people to get into cryptocurrencies and use them as currency.
3. Airdrops: Companies could use airdrops to distribute tokens or NFTs to customers they already have. This encourages them to learn more about crypto and be familiar with the ecosystem such as by providing them with free tokens that could help pay for their products or services.
The W2W3 strategy is an incredibly powerful tool for ushering in the mass adoption of cryptocurrencies as currency, and everyone should be taking advantage of it.
Not Convinced? Here Are More Benefits
This Web2-to-Web3 strategy can help reduce the volatility of cryptocurrencies by providing more stable use cases. When more people start using cryptos as currency, we will see a decrease in volatility as the market matures. This will make it easier for everyday people to use cryptocurrencies and will help to further legitimize them as an asset class.
It could also help increase the liquidity of cryptocurrencies. By providing compelling use cases for tokens, more people will be willing to hold them for longer periods of time. This will lead to increased trading volumes and higher liquidity, which is beneficial for everyone in the crypto space.
Cryptocurrencies have the potential to revolutionize the way we interact with the digital world, but only if we start using them as intended – as currencies.
The W2W3 strategy offers a viable path towards mass adoption by integrating cryptocurrency into existing Web2 infrastructure. If we can get more people to use cryptocurrency in their everyday lives, there’s no telling how far it will go.