Become a Bitcoin Pusher: How to Profit Locally as an Early Adopter in Cryptocurrency
If you’re reading this then you’re already an early adopter of cryptocurrency and can congratulate yourself for getting in so soon. But before you go blowing your trumpet too much, ask yourself: are you really benefiting from your early-bird status?
Or, like most, are you just waiting on the sidelines hoping to grab some of the trickle down from spiking coin prices and the rare successful small-alt gamble?
Given the lack of basic cryptocurrency knowledge in the general population right now, it would be fair to assume that you probably know more about blockchain, Bitcoin and cryptocurrency than 99% of your local population. (That assumes you don’t live in Silicon Valley, or some other highly-concentrated tech-hub.)
If we can also assume that there are people among that 99% who would like to know more about blockchain and cryptocurrency, then perhaps we have the beginnings of an opportunity.
So let’s take a look at a simple, low-cost way that you can capitalize on that opportunity, and apply your early knowledge of a niche industry in a profitable way.
Step 1: Look The Part – Suits and Business Cards
“Perception is reality.” – Attributed to Reagan-era Republican political strategist, Lee Atwater. Repeated by many.
If you haven’t noticed that perception is reality yet then you must not have seen how Craig S. Wright wriggled his way into the crypto space. Perhaps you missed the rise of Tron (TRX) and the masterful shaping of perceptions by its founder, Justin Sun. What was the crypto market’s all-time high of $800 billion based on if not perception of value?
“Apparel oft proclaims the man.” – William Shakespeare.
Combining Atwater’s quote with that of the Bard’s leaves us with one simple directive: Buy a suit, dummy. And a good one. Then spend $30 on one hundred laser-cut, eggshell-colored, rounded edge business cards, with watermark or without, according to your tastes.
The cards will contain the words ‘Bitcoin, Blockchain and Cryptocurrency’ along with your name and contact details. You’ll need them for all the conferences and seminars you’re going to attend.
Step 2: Network Locally – Business Conferences and Seminars
Every major town or city is host to various business seminars and industry conferences. Imagine waltzing through the lobby of a local business seminar (in your new suit), and being the only person there who knows anything about cryptocurrency.
Handing out your cards you casually utter the words ‘Bitcoin consultant’, or even more vague ‘fintech specialist’. That’s not necessarily a lie – compared to most at the seminar, you are a specialist.
Or at least you know enough to make yourself valuable. Case in point – most small businesses still don’t realise they can accept crypto payments as easily as they accept Apple Pay. Most still don’t know that there’s an entirely new payment option – and branding opportunity – for them in adopting cryptocurrency.
Most businesses targeting the preferred 24-35 male demographic don’t yet know there’s a giant crossover between their consumer base and that of the average cryptocurrency user. Business leaders are always looking for an edge, and Bitcoin is one.
Maybe you offer to set up a BitPay-like crypto payment processor in their stores. Maybe you target a specific business which you think could particularly benefit from crypto adoption, and pitch them an entire branding and launch campaign.
Even if your pitches fail, you gain more experience and reputation than any of the keyboard-bound ‘crypto influencers’ on Twitter, all the while racking up business cards and contact details in the process.
Step 3: Host Meetups and Hold Talks
Meetup.com is a great way to organize meetups with like-minded people in a given area. Besides being a good way to find other members of the crypto cult, it’s also another great networking tool.
Moving beyond social meetups, someone with your knowledge is probably capable of producing a thirty minute presentation, titled ‘What is Bitcoin?’. It would take research, organization, and possibly a touching up of one’s public speaking skills – but there’s a chance that would be amply rewarded by the $20 or so you charge for admission (does not include drinks and snacks).
Such events are held by hobbyists of all stripes every week in libraries and community centers across the world. There’s no reason why you, as an enthusiastic early entrant to the cryptocurrency space, couldn’t do the same.
Step 4: Become An On-Ramp for the Crypto-Curious
I include this based on a conversation I had with a barber a few months ago. Through idle small-talk we eventually landed on the subject of cryptocurrency, and of how he bought some Ethereum a while back.
The shocker came when he told me how he tried to sell it, and ‘the guy he bought it from wanted a seller’s fee’. Hmmm. Do you sense something wrong with this picture?
If there’s a market out there for dishonest crypto peddlers, then there sure as hell must be a market for honest ones. Why not set yourself up as the person who helps people buy into crypto for the first time? Of course you take a percentage – maybe one or two points above the standard rates on Coinbase or LocalBitcoins. A truly honest on-ramp would set up the transaction without any knowledge of the client’s private key – absolving themselves of either the temptation or accusation of theft further down the road.
Step 5: Spread Crypto and Blockchain Awareness
Independently owned local businesses are getting harder to find these days, but they’re the ones with the most scope to benefit from getting into crypto. Make them aware of what’s at hand, print flyers and distribute them tactically, strike up conversations with business owners and staff. If nothing else you’ll gain more perspective on the real state of crypto ‘on the ground’ than any social media thought-leader could ever garner.
Step 6: Spread Your Own Story
Maybe the local paper would be interested in your little quest to bring crypto and blockchain awareness to (insert town here)! The prospect of a local who’s into cryptocurrency would be tantalizing enough for most small-town papers, and if you can include some real examples of deals you’ve sealed recently, great! If you’ve been ‘engaged in lengthy negotiations with major businesses and industry leaders’, that’s good enough.
Pitch your story to one of the small online crypto news sites that will run anything, and hope that one of the bigger publications picks it up as a novelty story on a slow day. ‘How One Man Turned His Local Town Into Crypto City’. Now reap the rewards of your newfound fame and status, as you climb to the top of ‘Crypto Influencer’ rankings and become the 7th Highest Rated Expert on ICO Bench. (At this point, the only thing separating you from certain CEO’s is paying a tech geek to actually launch your Ethereum token).
You Made It!
Congratulations, you just profited (hopefully) from the cryptocurrency gold rush. It didn’t require excessive startup costs, and you didn’t have to sell anything other than your time and knowledge – such is the privilege of being an early adopter.
In fact, it was all because you knew something that most people didn’t – like an evangelist spreading word of the bible before most people could read. Religious missionaries may not have received pay, but they did accept tips – so make sure you include a crypto QR code on the back of those business cards.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.