Cryptocurrency also called as digital currency uses encryption technology to regulate the production of currency without the interference of any central authority. The currency is totally decentralized and makes double spending impossible.
Bitcoin a new kind of money, produced from an innovative payment method is the world’s first cryptocurrency. The innovative payment network allows making digital transactions from peer to peer. This decentralized encrypted platform makes fund transfer cost effective and secured with low or no transfer fees. Also, the funds are transferred fast, easily checked and protected against theft. This makes no surprise that digital currency can impact digital marketing.
Bitcoin which has already disrupted the financial services market is obviously a crucial aspect of many companies. Today’s marketers are trying to gain at least a general understanding of what is going on with cryptocurrency. If the company at the basic level has started accepting bitcoins for payments implies that the company is embracing to modern technology.
How a Bitcoin is related to marketing?
List of few ways which explains Bitcoin relation to Digital Marketing:
- The Blockchain technology which powers Bitcoin can be used to make digital
negotiations between the businesses by placing them on a ledger.
- Bitcoins can also be used to track data of users and their insights.
- The anonymity feature of blockchain helps the marketers to use datasets for marketing with reduced risks of exploitation.
- Bitcoins not only improves data security but also increases consumers perception of the company with less risk of data theft.
- Getting adapted to the cryptocurrencies helps the brand to appear more innovative and opens up to new audiences.
- A potential PR gain is obtained by announcing the company is accepting Bitcoins in the press release.
- A bitcoin logo to advertising creates a curiosity and intrigue to the brand.
- Bitcoins can be considered to pay a user to visit a particular page or site.
- Blockchain help the business owner to receive a full value without the interference of a middle man in the payment process.
Adding Bitcoin to your marketing business will no longer make a new kid to the block, but a smart kid to the financial services. It helps to boost your brand and overall business. There are many companies that have already started using Bitcoins as a mode of payments.