Converting People To Bitcoin - Verification Procedure Struggles

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Converting People To Bitcoin – Verification Procedure Struggles

Many Bitcoin community members are trying to boost adoption throughout the world. However, that process has turned out to be quite difficult in some cases, especially when it comes to getting novice users to buy their first Bitcoin amount. Exchanges require document verification and ATMs are sparsely located. Is there a good way to convert people to Bitcoin?

Also read: Restricted WeChat Pay Expansion Shows Off Bitcoin’s Strengths

Simplifying The Verification Procedure

Buying Bitcoin from a digital currency exchange platform sounds easy on paper, but the process can turn out to be more complicated than most people bargained for. Creating an account is the easy part, but when it comes to verifying one’s identity, things become vastly different and increasingly difficult.

Depending on which Bitcoin exchange is being used, they might offer an instant verification procedure. To complete this process, a user will have to scan their government-issued ID or driver’s license with their webcam. Unfortunately, it has proven to be quite the hassle to get a clear image of that ID when using a webcam in most cases.

Despite the advancements made in the field of technology, capturing clear images of sensitive information through a webcam can still prove to be very difficult. Some people might see this as a positive thing as it will eliminate the possibility of personal information being stolen by hackers accessing one’s webcam.

On the other hand, this also causes a lot of frustration for novice users looking to venture into the world of Bitcoin and digital currency. In fact, according to one Reddit post earlier today, people are more likely to give up once this process fails. Even when incentives are offered, there is only so much frustration a person can take.

Something has to change in this regard, as the verification procedure will need to be simplified if we want to grow the Bitcoin ecosystem. Instant verification procedures are a major step forward in making the process more accessible for novice users, but there are still bottlenecks for less tech-savvy users.

This is why projects working on implementing blockchain technology as a way to authenticate and verify a user’s identity are so important. That being said, it will probably take a few more years until this platforms come to fruition and can be used by mainstream consumers.

Do People Even Want Bitcoin?

One other thing to take into consideration is whether or not everyday consumers want to obtain Bitcoin in the first place. Putting people through a frustrating verification process when they are not sure as to whether or not they want to buy Bitcoin is not the best approach. Granted, it is important to grow the community, but there is no need to “push” people over the edge.

Perhaps the easiest way to “guide” people in the right direction is by handing them a paper wallet with a tiny amount of Bitcoin. No one is saying you have to give away a half a Bitcoin to random people on the street. Start with your friends, family, and loved ones. Word of mouth travels much faster than any other marketing effort.

How do you spread the word on Bitcoin? Let us know in the comments below!

Source: Reddit

Images credit 1,2,3

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.