Bitcoin Adoption Begins On The Ground

It is essential to encourage Bitcoin adoption in communities.

This opinion editorial is by Ray Youssef (CEO of Paxful, cofounder of Built With Bitcoin Foundation).

Although Bitcoin adoption is growing around the globe, education remains one our greatest challenges. Although financial literacy should be a right, many people around the globe are not able to do so or are misinformed. How do you approach a topic like Bitcoin? My experience has shown that one-on-one relationships have the greatest impact.

It All Starts with Trust

Trust is the foundation of any relationship. This was something I learned at an early age. As a child, I worked at my parents' New York City newsstand. I encountered many customers from different backgrounds and had to adapt how I dealt with each one. I learned that listening to customers was the only way I could give them what they wanted. I learned patience and empathy through this job. This allowed me to quickly understand customers' problems and provide solutions.

In 2015, Paxful was founded. I handled most of the customer service calls. I will never forget the first phone call I received from a customer in distress who saw my number on our website. I was told by a Louisiana woman that she was being evicted from her apartment due to overdue rent. She was an American woman without a bank account. I explained to her that she could purchase a gift card for a small amount and convert it into Bitcoin. I guided her through the process and she returned my call twenty minutes later. Although our conversation lasted approximately two hours, she was already making her first transaction.

We started receiving hundreds of calls a few days later. Our site was used to guide nearly 1000 people, and traders around the globe were busy filling orders. Global Bitcoin adoption is not just about education. It also requires patience, trust, and excellent customer service.

Banking on Our Community

My journey with Bitcoin has brought me to know some amazing people who work to improve education and make a positive difference all over the globe. Farida Nabourema is an activist fighting for democracy in Togo. The Sulaiman brothers are helping to empower their community in Nigeria using Bitcoin. Kal Kassa spreads information about Bitcoin to remote regions such as Ethiopia. Paco de La India is a man who made it his mission in 400 days to travel 40 countries primarily on bitcoin. He is also spreading awareness about Bitcoin throughout his journey. He is a street educator and hostess for community events, encouraging people to use Bitcoin to achieve financial freedom. Stories like de la India are a reminder of how small acts can make a big difference.

Bottoms-up Approach

A bottom-up approach is key to global Bitcoin adoption. Paxful has spent so much time on the ground, meeting users, organizing campus tours, and hosting workshops. I have learned from my experience that human connections are powerful. Only with patience, understanding, and education can we reach mass adoption and offer equal access to financing for anyone, anywhere.

This guest post is by Ray Youssef. These opinions are not necessarily those of BTC Inc. and Bitcoin Magazine.

By: Ray Youssef
Title: Bitcoin Adoption Begins On The Ground
Sourced From:
Published Date: Tue, 13 Sep 2022 22:30:00 GMT

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