My favorite cryptocurrency Steem. How can we get businesses to accept cryptocurrency as payment?
I got to know about this challenge yesterday and it got my attention, so this is my entry into the challenge organized by @steemitblog (September 28th - October 4th).
MY CRYPTOCURRENCY JOURNEY
With the pandemic, it is visible that fiat isn't what will last for a very long time and cryptocurrency is taking over gradually but it is yet to be accepted globally. My journey into the cryptocurrency world in 2015 by grabbing free token via faucet and i enjoyed every bit of it even though it wasn't a profitable venture but i enjoyed the fact that i could do something new and innovating. Then in 2016, i found ou about steemit, the platform that made me enjoy writing every moment. I was able to write, comunicate and network at the same time, then i realized there was a token that had impressive features, SBD and STEEM. I was not really enjoying the use of BTC because of the time it took for a transaction to get completed as well as the transaction fee needed to complete the transaction but with steem, i had no problems at all as the transactions were very fast and there were no fees for doing those transactions.
What do you like best about cryptocurrency and how do you use it?
Decentralization
Owned by no one and used by everyone, cryptocurrency bringing decentralization to the world of money is the first thing i like. In the past, i usally percieved money as a currency owned by the governent and as such they had the right to print as many as they could which usually led to hyperinflation but with cryptocurrency, the way i saw money changed. Not being owned by anyone and giving everyone the right to it is amazing.
Traceable
The ability to track all transaction is another impressive feature of cryptocurrency. I remembered there was a time the treasurer of a society i was wasn't transparent with thw way funds were used and we were unable to trace everything he used the funds for because they were not registered. This caused the society a lot but since it wasn't tracable we were unable to get a vivid and broad details of the spendings but with cryptocurrency this is not the same. All transaction with cryptocurrency is recorded properly and encrypted so it cannot be tampered with.
Which platform do you like to trade cryptocurrency?
I have been trading cryptocurrency with Binance, Poloniex and Huobi and i trade on a daily basis. I really enjoy using Poloniex and Binance as they have a very impressive user interface.
How can we get businesses to accept cryptocurrency as payment?
First, cryptocurrency is still in its infancy state and requires mass adoption but personally, i have been accepting steem as a means of payment for goods and services in my store and this is because i have believe and trust in steem and the blockchain. On my own part this is one way i let the world know about steem and it has been working really well.
Another way to get cryptocurrency accepted by businesses is creating awareness to people about cryptocurrency. The major reason why businesses haven't adopted the use of cryptocurrencyis because they do not know about cryptocurrency. Every business wants to have a ledger that is tracable and transparent and cryptocurrency is giving that avanue.
In my country Nigeria, I have been talking to a lot of business patners whenever i want to do business to accept cryptocurrency especially steem as it requires no transaction fee and Tron as it just got paired with Nigerian Naira on Binance, and most patners i have been talking to always give it a try and they tend to like it.
With Cryptocurrency education and awareness, we can make cryptocurrency a currency for all business
Thanks to @steemitblog @steemcurator01, and @steemcurator02 for the initiative, and the support given to the steemit community.
Hi @gbenga
I think eu Steem has changed the lives of many, and to think that there are still people who do not know it, a very versatile crypto and the best as you and I know, it has no commission and transactions are fast.
Cryptocurrency has affected lives a lot and steem has proven to be a cryptocurrency that can be used for so many things, thanks to fast and free transaction possibilities.
Hello @gbenga
Great that you accept steem into your business, really great.
I congratulate you for that, I also think the main thing is to make people see that money transactions should not be only and exclusively through banks, that there are faster ways and even charge zero commission, as in the case of steem.
Transacting with Steem is fast and very reliable. Cryptocurrency is king and it is good for keeping records. I have always enjoyed steem for transactional purposes as well as personally for blogging.
Hello friend, I think it's an excellent entry for this contest, crypto currencies have changed the lives of many people especially steem, it would be great if it was known around the world. Thanks for sharing.
Thank you friend, cryptocurrency has been a life changing experience and I hope that soon the world gets to accept it's positive impact.