The Effects Of Cryptocurrency Over Digital Marketing

Cryptocurrency is a digital currency, which came to be known when Bitcoin came in 2009. Cryptocurrency will influence digital marketing in the future, as blockchain technology is increasing, and the customers of these digital currencies are increasing day by day. Many websites give information about the crypto marketplace at present. As it is decentralized in nature, it will eliminate any third party that facilitates the transaction process. In this article, we will have a look at some of the effects of a cryptocurrency over digital marketing.

Popularity Of Cryptocurrency

It is essential to have a basic knowledge of cryptocurrency. Cryptocurrency is a virtual currency that came into existence in 2009. Cryptocurrency uses an innovative technology called as blockchain, which is a decentralized network containing millions of nodes used to facilitate the transaction verification between the two parties. Cryptocurrency gives power to its customers to make their transactions secure digitally and without the involvement of third-party like banks, payment gateways, etc.

Cryptocurrency is a global, encrypted, pseudonymous and decentralized type of currency. Today, there exist more than 1500 cryptocurrencies that are currently operating in the worldwide market. All these new cryptocurrencies are trying to bring new features and innovation so that they could replace the older ones.

Why Digital Marketing Is So Important Today

Today, everyone is available online all around the world, which makes digital marketing essential. Digital marketing became famous in 2009. It is the most recognized technique used by companies to sell products and bring awareness to them. Digital marketing is a crucial tool to market your products where the focus is given on making the web pages attractive and appealing to the customers. There are many tools available for web development and design purposes like Wordpress, Wix, InVision Studio, AdobeXD, Sketch etc. that are contributing together with digital marketing strategies to give a boost in sales.

3 Significant Effects Of Cryptocurrency Over Digital Marketing

Linking cryptocurrency with digital marketing enables customers to have full control over their personal information. Cryptocurrency also puts a challenge to the marketers to showcase their relevancy. Today, people are dependant on third parties like Amazon, Paypal and others to purchase goods and make transactions. These websites charge the transaction fees from both the buyers and sellers who use their site. Moreover, verifying and completing the transaction also takes a significant amount of customer’s time. Here are three major effects of cryptocurrency.

1 A Boost In International Trade

The main goal of cryptocurrency is to bring both buyers and sellers closer by eliminating the third party. Transactions without the involvement of the third party are possible with the help of blockchain technology, as there is no room for any bank or central authority or transaction fees to make the purchases. People will also need not to worry when they will do the transactions on an international basis because different countries charge different amount of transaction fees. Cryptocurrency will also help all the nations to boost global trade as no charge will be deducted on making the transactions.

2 Personal Details Will Remain Secure

With the use of cryptocurrency, transactions are visible to every person involved in the blockchain network. However, the intimate details of people who made the transactions remain hidden. In a blockchain, customers need not worry about their information like name, age, gender, etc. when making the transaction, because personal data is encrypted using a private key. Cryptocurrencies are programmed in such a way that transactions are completed automatically without filling any personal details.

3 Almost No Advertising Expense

If Blockchain technology is giving benefits to customers, it is also not causing any harm to the advertising or digital marketing companies. Today, we see a lot of advertisements on platforms like google, facebook, and youtube. At present, digital marketing companies need the help of third parties like Google and Facebook to show their ads to the internet. These third parties give personal details about the people, to the digital marketing companies and charges a lot of money. With the use of cryptocurrency, there will be extremely low or no advertisement cost, as the third parties will be eliminated completely. Also, with the use of cryptocurrency, people will have more trust in companies, and any modification in the transaction will get monitored by all the nodes in a blockchain network.

Conclusion

So far, we have seen some of the significant effects of cryptocurrency on digital marketing. Many websites are providing updated crypto pricing to investors today. Since the primary goal of digital marketing is the elimination of middleman or third party, it seems to provide benefit to advertising companies and their customers. With the use of cryptocurrency, customer’s data will remain secure, and transaction fees will also get lowered. International trade will also get a good boost, as this digital currency will eliminate central authorities charges a considerable amount of expenses on transaction completion. As a result, the double-spending problem between the two countries will get solved.

Author Bio

Hi, This is Sujit. I am a  passionate writer and crypto enthusiast. I’ve been working for Cryptoknowmics which is there for the latest bitcoin news and let you know about future of ICO. I like to share new tips, tricks and trends related to Bitcoin, Cryptocurrency, and Blockchain. You can follow me on Twitter and Linkedin too.