The cryptocurrency market has the potential to revolutionise the digital payments industry. However, for those who are not already crypto experts, manoeuvring the market can be incredibly difficult due to the lack of regulations and guidelines.
Banxe is the next-generation financial platform, uniting traditional and digital finances. Fully licenced, secure and branch-free, Banxe gives people the freedom to pay, receive, invest, trade, and exchange with both cash and crypto – unlocking their financial potential, by empowering anyone to use crypto as simply and conveniently as cash.
Anthony DiMarsico is an accomplished entrepreneur with 10+ years of experience developing and leading companies to success. With DiMarsico as its founder and CEO, Banxe has evolved, developed and acquired multiple key partners.
Speaking to The Fintech Times, DiMarsico discusses what needs to be done in order for new users in the crypto sphere to best use the emerging digital payment method:
Many people want to create additional revenue streams, whether through stocks, shares, investments in property, or even via cryptocurrencies. And the desire to unlock one’s financial potential can become a reality now, with the merging of cash and cryptocurrencies allowing people to have new revenue streams and complete transactions without being restricted by having to use cash. But there are hurdles – with the world of crypto constantly changing, due to evolving regulations and legislation, it is easy for non-crypto experts to become overwhelmed and disillusioned.
As payments become more digitalised, the world of financial transactions is fundamentally changing, and eyes are on the crypto industry as many wonder how it will lead the charge. But if a constantly evolving environment wasn’t enough of a restriction for budding crypto users, they currently face another major hurdle to advancing their crypto journey – friction.
This friction, caused by the confusing and ever-changing cryptocurrency environment such as potential incoming regulations, is stopping people from reaching their full financial potential, and thus, lifestyle potential.
Friction exists when it comes to understanding crypto legislations, buying and selling crypto, exchanging crypto to geographical currencies easily, and even cashing out crypto. It has not been an easy process to understand. Removing these frictions and giving people the knowledge and confidence to reap the rewards of uniting cash and crypto is key to unlocking people’s financial potential.
But the question remains; how do we educate and empower people to have the confidence and knowledge to use crypto as seamlessly as cash.
Lost in the noise
Given the fast-moving crypto environment, it is hard to stay up to date with the latest changes. And as a beginner, it is even harder.
As the crypto environment evolves, it is very time-consuming for potential crypto adopters to research extensively enough to become top traders, given how time-consuming it can be. New currencies are being discussed, new laws and regulations are being introduced and countries such as India, China, and the UK are now slowly trialling central digital currencies, with India even set to introduce a new digital rupee. It is difficult to keep up with all the new announcements.
Amongst the evolving regulations, there is a cloud of mystery surrounding the convoluted and complicated crypto terminologies. When combined with a lack of understanding, confusion has ultimately led people to naturally avoid buying crypto.
In order to alleviate this fear, there needs to be a clear and simple cryptocurrency platform available to educate and guide new users through the buying and trading process. Without this, cryptocurrencies can never be fully integrated with traditional cash systems, since many people won’t be confident enough to seamlessly switch between revenues.
A helping hand
To stop this confusion, there needs to be a clear and simple helping hand to guide people through this complicated environment. And with so many different crypto apps for a range of tasks it can be overwhelming and confusing to find the right one. For new digital currency users, a central point of access app is essential to shedding light on the world of crypto.
Using a single access platform for all crypto services, allows crypto customers to slowly learn how to buy crypto and begin exploring the financial possibilities of this new digital currency. People can have full visibility of their benefits and can easily start gaining the confidence to be bold with their financial decisions, thus unlocking their financial potential.
Having everything in one place, such as in an educative hub, prevents the need to have multiple apps doing separate things, creating more confusion. Users can simply begin educating themselves on the rules and regulations of crypto, before becoming fully immersed in the cryptocurrency environment.
Despite having full visibility of digital finances, people still want to be reassured of the security of their assets. With many different governing bodies changing the laws and regulations, it is a challenge to find one you can trust.
Confidence in crypto
The digital currency industry must do more to empower new and existing crypto users to understand the world of digital currencies better, with improved communications and simpler processes, if it is to remove friction. Once this is achieved, the true potential of people’s financial futures can be lived.
As users gain a greater insight into the crypto world, this opens a range of possibilities to begin building their financial portfolio by competently buying, selling, and trading crypto. By eliminating friction the door is open for everybody to generate rewards in ways they have never considered before.
Using cash and crypto seamlessly together is the future of payments, around the globe. Connecting these two avenues of income will change the world of finance.