Bitcoin spending comes to the masses
It seems like the hype around Bitcoin and blockchain has settled down since the highs it reached at the turn of the year, but that’s a good thing for companies such as Plutus, who are at the forefront of changing the focus of coin-based payments from brash new competitors to a market-leading, secure offering.
It’s fair to say that buying and selling Bitcoin can be difficult for the average person. The hoops that you have to go through in order to setup an account to purchase are nothing compared to how many you need to go through to get your money changed back into fiat currency such as £ and Euros. And along the way, you’ll probably also find that you’ll lose part of your investment just by processing transactions and sending your money from one place to another.
So it makes perfect sense to provide Bitcoin adopters with the ability to spend their money as you would if you were spending £ from your bank account – with a debit card.
Plutus are one of a small number of companies that have cracked the technology to allow users to do just that. With their Tap & Pay solution, you can use a Plutus card in exactly the same way that you might use a debit or credit card from a high street bank, expect you’re spending your Bitcoin.
Key to this user growth was the changes that were taking place within the industry at the time that we were working on their strategy. It seemed like overnight, access to standard advertising channels such as Facebook and Twitter were being closed to prevent fraudulent activity by bad actors, and the sudden price drops were making the casual investors pull out their investments.
Behind the scenes though, and away from the hype, Bitcoin and blockchain continues to plot a study path. Moving into a place of less hype is undoubtably a benefit to it becoming seen as a real competitor to existing currencies, and reducing fluctuations in pricing make it a more stable investment.
Plutus have a clear roadmap to delivery of their offering:
With this at the forefront of our minds, we were able to create a credible, actionable digital strategy that would tap into the right markets and keep clear of any accusations of suspicious activity. We worked on delivering a plan to increase user interest through key channels, convert them into subscribers and offer beta access to the new cards.
Growth on an evolutionary basis would create pent-up demand through scarcity and lead to waitlists of users who would want to get their hands on cards that could allow them to spend their Bitcoin in shops up and down the High Street. This viral marketing technique is perfect for the Bitcoin world, where the usual ‘experts’ are denounced, and the influencer marketing is the cornerstone of getting the word out.
We’re looking forward to continuing to work with Plutus on their ground-breaking product and hope that you all get a chance to own your own Tap & Pay card in the future.