Due to the great reception that my last article had about my experience with cryptocurrencies in Venezuela, making special mention of $NANO, I wanted to draw up a list of ideas that may be useful to achieve greater penetration of that currency in emerging markets like ours, where Bitcoin and USD / DAI stablecoins have gained a lot of ground, making it imperative that the majority of merchants, investors and minority users who are entering the world of cryptocurrencies must be faced with paying high fees in practically all the transactions. I see this as an unnecessary tax as long as $NANO exists.
While it is true that to buy $NANO, you must go to exchanges and use base pairs (Bitcoin, USDT, among others), it can also be obtained through FIAT VES in the case of Venezuela by retailers). However, exacerbated fees must be paid at some point: from when the amount of Bitcoin is sent to Binance or another Exchange until the trade/withdrawal are made. So, in order to make the adoption of $NANO in Venezuela easier, a couple of things have occurred to me based in my researches, which I explain below:
The need for a $NANO purchase platform through other cryptocurrencies / electronic FIAT as simple to use as Uniswap/1inch.
The use of exchanges isn’t very friendly for users who are starting in the world of cryptocurrencies. In addition to this, most of the Venezuelan merchants, solvent shop owners, prefer to see the money in raw state (cash, bank transfers). For this it is necessary that it be built a simple, effective and reliable solution that allows merchants to exchange their Venezuelan FIAT money (VES) for $NANO, which turns out to be much more attractive compared to the inflated VES. Encouraging Venezuelan merchants to back their assets in Nano can be a solution to increase volume naturally and incentivize savings. Another solution could be a escrow platform like LocalBitcoin.
The need for stable asset funds to create confidence in buyers and savers.
We know that markets flow, mainly, by the feelings of investors in relation to the perception of reality, often manipulated by the media. However, there are many assets in the world that are worth having life-term investments. Gold and silver are a couple of them, and precisely what gives them that intrinsic value is the rarity of each of them and what it costs to mine / process / take it to people. Based on this hypothesis, I can properly say that $NANO, due to its unique characteristics –including its fabulous community– is a unique asset with the potential to gain immeasurable value, and to achieve this –in my opinion– it needs to be backed by assets such as The ones I mentioned before (gold, silver, lithium, among others) so they can not only preserve the intrinsic value (given by unique features), but also protect itself from multifactorial inflation (from indiscriminate printing of currency to national internal debts).
Greater penetration in Spanish-speaking markets (South America, Central America and Spain).
There are many new Hispanic users in the world of cryptocurrencies in the wake of the pandemic unleashed during the past year. Many entered accidentally due to their sudden change of life (they went from a face-to-face job to a remote one) and in their companies they were paid with cryptocurrencies. Others, visionaries in economic matters, invested in cryptocurrencies knowing –or having reasonable doubts– about market bullish times –as it was–. Thus, huge amounts of money were earned by those Spanish newbie crypto users who never had such many spendable monies before. Today it can be said that through cryptocurrencies this became possible, positively impacting the economies of our countries (see also Nigeria case), given the ignorance of the bulk of the population that still does not understand how to ‘make money or preserve its value with cryptocurrencies’.
$NANO needs to have a community in Spanish enough-educated to encourage its use to others: not only for strictly positive purposes for the project, but also for people who seek to help through its Venezuelan foundation, which can be of great help in penetrating Europe and other parts of South America. The first, through Spain: Venezuelans have a very large Spanish community in Venezuela –which still remains despite the mass exodus– and they could be part of this initiative; and the second, through the Venezuelan exodus in South America. Launching a campaign directed at them –who usually send remittances to their families in Venezuela every fortnight or monthly– can be very beneficial for everyone. Using the most common social networks for this and the advertising APIs (Google, Coinzilla, among others) targeting Venezuelan migration would in effect get their attention. Venezuelans tend to be communicative in reference to everything that benefits us collectively –effects of resilience– and this can be oriented towards many benefits, from senders to receivers.
Hey, why to pay fees if $NANO already exists? 😎
My donation address: nano_1parag3s3cjqi4ihrtpj5kye3aij75hbr8fke7h3o8xr3mkq3qhasf6ji47d