According to Coindesk statistics, in 2017 alone the number of the crypto-holders increased by 97 percent, with all of them being potential customers who can bring additional income to the business in the future. Today we are going to answer the question that every business owner should care about: who is ready to spend their digital assets and, more importantly, why they would do it at all?
To prevent this material from becoming a boring sociological report with a bunch of figures and incomprehensible data, we divided crypto-clients into conditional frivolous archetypes. However, all of them are based on our own observations and surveys of merchants who are already successfully working within Paytomat network. Let’s see if you will recognize yourself or your friends in descriptions below.
The Early-adopter
Some may call them geeks, but we prefer the term “early-adopter”. This type often gets acquainted with crypto to simply have a new topic for small talk, as well as keep up with the technological advancements. After making several transactions, they either fully adopt this technology or switch to something equally new, postponing their crypto-activity until cryptocurrency becomes super popular again.
The Anarchist
Probably one of the oldest representatives of the crypto-world. Once they became interested in crypto because of its ideas that promised financial freedom from the control of banks and governments. Some of them were disappointed in the financial system because of the crisis, others simply because of distrust for contemporary economics.
“Anarchists” know that one can and should pay via digital money, and that it can bring real benefits. However, with the appearance of market’s newbies and rapid commercialisation of the industry, number of the true anarchists is decreasing.
The Traveler
There are no borders for cryptocurrencies, therefore this archetype fully embraces this advantage. Instead of looking for an ATM to avoid double transactions or trying to find the best exchange rates, smartphone is the only thing travellers need to pay for anything, anywhere. Their motive is clear!
The Involuntarily Millionaire
Let’s be honest, they might not always be a millionaire, but a person who has a certain funds in crypto or receives additional income in this type of currency. Sooner or later The Involuntarily Millionaire encounters a caching-out problem: high commissions, time-wasting, taxes, etc.
One last obvious option remains — to find where and how they can use cryptocurrency in a more profitable for themselves way, without additional costs. According to Chime Bank’s Bank Fee Finder Summary Report the average American spent $329 on bank commissions in 2017, so as a result, these clients get significant savings.
Mr. Security
In addition to all other features, this type is guided by a simple rule: the fewer intermediaries there are between you and money, the less are the chances to be a victim of fraud and losing your assets. Add potential anonymity to the this factor and it’ll become clear why do these people choose crypto.
The Handle-all-things Man
Firstly, as soon as a bank gets your money, it stops being fully yours. Do you want to make evening transaction? Sorry, but wait for tomorrow. Maybe you want to urgently take out the deposit? Please, pay the penalty. And so on.
Secondly, living in any country in the world, you unwittingly agree to use its fiat currency. That is, you depend on the inflation, depreciation and other things inherent in the fiat world.
Logically, not everyone is happy about this situation, and therefore this client type appears. They need to take control and manage all matters related to their funds, hence their choice of cryptocurrency. After the first iterations with new assets, the Handle-all-things Man discover the full range of crypto-advantages and become not only a hodler, but also a spender.
The Industry Guy
Although our industry is still young, there are already enough employees who receive a salary in the crypto most of the time. Also, you shouldn’t forget about the miners and masternodes owners who collect newly generated coins.
As in the story with The Involuntarily Millionaire, everything goes well until they have to convert their assets into fiat. Faced with inconvenience all the time, people from the industry are merely moving to non-fiat life.
The Hostage
They are the residents of high inflation markets (South America, Africa), where your monthly income can depreciate overnight, and access to more stable fiat currencies is limited. Cryptocurrencies remain a gateway to the preservation of capital. And where there is capital, there is a need for a convenient infrastructure to spend it.
It is clear that each of these portraits is exaggerated, and a single person can combine several types at once, but now you are familiar with primary motivations of all kinds of crypto-users.
We wish you to make a deal with each of them (of course, if you sell goods or services).
Stay updated!