Through this writing, we want to talk about the easiest, fastest, and fun way to get someone to adopt crypto. In the period 2019-2020, we are presented with the narrative that one of the most potential and easiest media to get someone to adopt crypto and blockchain is through games and the metaverse. Most media, both mainstream media and social media, have never stopped raising the theme of `blockchain games` with the jargon `Play-To-Earn` (P2E).
We beg to differ. We have an idea : there is an easier, and definitely a fun way that can make a person to becoma a crypto adopter. And the best part : without capital needed.
Crypto and Blockchain Industry 2017-2020 Highlights
For the past few years, especially in 2017-2022, is a very exciting period for the crypto sector and blockchain technology. On that period of time, the Bitcoin boom started with the achievement of the highest price followed by a very volatile price fall, afterwards followed by the birth of various blockchain network projects and diverse altcoin projects with their respective functions and advantages, as well as various booms in derivative products such as the DeFi (decentralized finance) which once reached the peak of the total value locked (TVL) value of up to $200 billion and is considered as a disruptor for the conventional economic sector.
Followed by NFT trading which reached a peak of trading volume of up to $25 billion and was followed by various brands and auction houses participating in selling various NFTs, the booming of blockchain and crypto-based games with the P2E (Play-2-Earn) model in the crypto gaming ecosystem, and the presence of various metaverse project.
The hype and boom of various projects in the blockchain and crypto sector were not only driven by an increase in the price of Bitcoin which reached $69,000 in the 2021 period, but also driven by massive investments made by large institutions and venture capitalists who injected funds of up to billions of dollars into various NFT, gaming, and other projects. metaverse.
This causes crypto and blockchain adoption to reach its peak during this bullrun . According to data from Chainlink, crypto adoption has reached its peak of growth, reaching 880% in the 2021 period, or more than 2300% from the same period in 2019.
Blockchain technology has the potential to replace conventional financial systems and various crypto projects which besides being investment tools, which also promises a variety of functions and advantages does sound and looks promising, especially the interest from retail and institutional investors is very large for this sector.
Increase in Adoption Rate and Number of Retail Crypto Investors in Indonesia
Taken from the data on the number of retail crypto investors in Indonesia, there has indeed been a very significant increase compared to last 2019. Based on data from BAPPEBTI, in September 2022 the number of crypto investors in Indonesia reached 16.27 million people. This number increased by 151,043 people compared to the previous month. Compared to the previous year, in September 2021, there were 8.96 million people who became customers of crypto assets in Indonesia. This means that the total crypto investors have increased by 7.31 million people, or an increase of 81.6% in 2022.
Even though there has been a decrease from the trend of increasing the number of crypto investors compared to the previous year, this is not surprising considering that the world crypto market is experiencing a decline and investors` interest in entering this market tends to decrease, because the blockchain and crypto sectors still have ties to the traditional financial sector. influenced by macroeconomic movements, and various global recession issues. When viewed from the data, the transaction value as of September 2022 has fallen by 71.83% when compared to the transaction value in September 2021.
Apart from the fact that global crypto market conditions are experiencing a decline, it will be very interesting to try to answer the question of :
How to make more people enter into the crypto and blockchain sector ? What are the obstacles that make people enter the crypto world? What solutions can be offered to answer this challenge?
To answer this question, let`s see the customer journey that generally occurs in Indonesia for a crypto user or investor in entering the crypto world.
Customer Journey Entering the Crypto World - via Crypto Exchange
In general, investors in Indonesia get acquainted and begin to enter the crypto world through crypto exchanges.
The following is the Customer Journey for investors or ordinary users who want to enter the crypto world through crypto exchanges / crypto exchanges in Indonesia:
- Download the application or through the official crypto exchange website
- Register / sign up
- Do KYC (KTP, selfie, and bank account information)
- After registration is received and validated, the user`s account becomes active
- Afterwards, the user will make a deposit (in this case IDR) into the wallet on their crypto exchange platform.
- The user makes a buying and selling transaction of crypto coins or tokens of his choice
A long customer journey, takes time usually between 24-48 hours - it could be longer if a problem with the KYC process detected - as well as the capital deposit that must be made (top up) are things that can make the experience of a new investor in the crypto world feel hesitant to enter.
The second reason is the experience gained from the users as well as the appearance on the crypto exchange platform in general. For new/ordinary crypto users, who try to enter through an exchange, this will make these new users even more doubtful because the interface is very complex, appearing with volatile number movements, which can give unpleasant experiences for these new users.
As a note, this is not the failure nor a case of mistake of the apps or crypto exchange platform, where each platform and application has certainly been very well designed and full of consideration, this is more on the user side; how it can respond to complex displays, full of numbers, symbols and tickers of the various coins and tokens being traded, and more.
These things made us think, is there an easier and more fun way for new and lay crypto users and investors, to then invite them into the world of crypto? A process that is easy, fast, convenient, does not require a deposit / top up using money (IDR), and instead gives them capital to start getting to know and interact with the world of crypto?
Answering this question, Cashtree, the mobile advertising in Indonesia with a reward apps model, can be an option.
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Cashtree : Entertainment & Mobile Advertising Platform
Introduction: Cashtree - Entertainment & Mobile Advertising Platform
Cashtree is the largest mobile entertainment and advertising platform in Indonesia, which has been operating since 2016. Cashtree has been known as the most reliable platform for brands and advertisers to carry out various digital marketing campaigns, and as a platform that provides various attractive prizes for its users. Since its release in 2016, until the end of 2022 Cashtree has had 20 million users, with an average MAU of 300,000.
Cashtree connects brands with users in a fair reciprocal relationship, where brands and advertisers will get conversions as a result of their advertising campaigns, and users get reciprocity in the form of prizes for their participation with ad campaigns from advertisers. Please note, this will be important in the following discussion.
Cashtree Point as User Rewards inside Cashtree Apps
For each user`s participation in the advertising campaign contained in the Cashtree application, users will get Cashtree Points. Cashtree Points are a form of user reward given to Cashtree users for each of their contributions to campaigns from advertisers, which can then be exchanged for various prizes available in the Cashtree application. The prizes available in the Cashtree application are very diverse, ranging from phone credit, e-wallet balances, smartphones, watches, and various other attractive prizes.
The Rewards Apps
Cashtree has been known since its inception as an application that provides gifts to its users. This also makes Cashtree able to grow rapidly in a short time. Briefly, Cashtree`s business model is to help advertisers and clients run various digital campaigns on the Cashtree platform, and provide revenue sharing from clients and advertisers who advertise on the Cashtree platform with Cashtree users in the form of rewards, namely Cashtree Points - which can later be exchanged for various prizes on the Cashtree platform.
Cashtree has proven that Cashtree has been able to grow exponentially since it was first released in 2016, is able to turn traffic into revenue, and has a clear business model where the source of revenue comes from ads / advertisements.
Since the end of 2021, Cashtree has been exploring the potential for implementing blockchain and crypto technology into the Cashtree business, and at the end of 2022 Cashtree will introduce the Cashtree Token (CTT), a newly introduced incentive for users in the Cashtree application and the Cashtree Business Ecosystem.
Cashtree Token Project: Gateway for Crypto Adoption in Indonesia and the World
Cashtree as the Gateway of Crypto Adoption
The Cashtree Token Project is a solution that Cashtree offers to support transparency in campaign performance for clients, provide incentives that have economic value and can support the needs of Cashtree users and the community, and support the adoption of crypto and blockchain technology in Indonesia.
The idea that Cashtree offers is to become a gateway for crypto adoption in Indonesia and the world. How to ? Namely with the reward apps, where users who interact in the Cashtree application will get rewards in the form of Cashtree Points which can later be exchanged for digital assets, namely Cashtree Tokens (CTT). This Cashtree token is essentially an initial capital for users who are entering the crypto world for the first time.
The hope is that by introducing a reward system that has economic value in the form of digital assets, users will begin to get acquainted with the world of crypto, both from the various services, products, and various benefits offered by various crypto projects in the world.
In order to be able to provide high-value benefits to its users as well as realizing business expansion, Cashtree also aims to increase the use value / utility of the Cashtree Token to make it a form of contribution that has broad economic value for Cashtree users.
We will talk more about this in the next section. We will explain how Cashtree`s big plan is to build the use value / utility of the Cashtree Token which will later provide broad economic benefits for its users.
Customer Journey Entering the Crypto World - via Cashtree App
If earlier we had discussed the customer journey of crypto users and investors through crypto exchanges/exchanges with their various challenges, let`s take a look at the customer journey flow for new crypto users and investors who enter through Cashtree Apps.
Customer Journey entering Crypto through Cashtree : Easier, Faster, and No Capital Needed
Customer Journey for investors or ordinary users who want to enter the crypto world through Cashtree :
- Download the Cashtree application
- Register / sign up
- No need for KYC - because Cashtree is not a financial application
- Users can directly interact and get rewards in the application Cashtree
- Users don`t need to make a deposit, just exchange Cashtree Points into Cashtree Tokens and make a Withdrawal to their crypto exchange wallet if they want to trade or monetize Cashtree Tokens.
Fast, easy, without capital; instead Cashtree provides users with gifts in digital assets that have economic value; is the main advantage of Cashtree`s strategy to bring its users into the crypto world, and drive the adoption rate of crypto and blockchain in Indonesia.
Cashtree as a Strategic Partner for Crypto Adoption in Indonesia
By implementing crypto into its business, it means that Cashtree can bring all Cashtree users on a massive scale to enter the crypto world. This makes Cashtree a very strategic partner, especially for crypto exchanges and various other crypto projects, because Cashtree (1) will bring the masses and their users to adopt crypto, and become a bridge that introduces various crypto projects and benefits that exist in the crypto world. for crypto industry players and crypto projects, and (2) will bring the masses of users into crypto users as well as exchange / exchange platform users - bearing in mind that one way to monetize digital assets is through crypto exchanges.
Cashtree is here as a partner who will complement each other for players in the crypto industry in Indonesia and the world.
It should be noted that Cashtree will not take over the function of the crypto exchange / exchange, but Cashtree is here to complete the crypto ecosystem, and contribute to driving the level of crypto adoption in Indonesia, and later throughout the world. Cashtree`s vision is to be here to provide the best service for clients and advertisers, continue to innovate and provide breakthroughs for the advertising technology industry in Indonesia, and contribute to increasing the adoption of blockchain and crypto technology in Indonesia, and contribute to improving the welfare of Cashtree users through economic and technological democratization.
Cashtree in Answer to Questions About Crypto Adoption in Indonesia
Let`s get back to the question we are trying to answer: how to get more people into the crypto and blockchain sector? What are the barriers that keep people from getting into the crypto world? What solutions can be offered to answer this challenge?
Is there an easier and more fun way for new and lay crypto users and investors, to then get them into the crypto world? A process that is very easy, fast, provides a pleasant experience, does not require a deposit / top up using money (IDR), and instead gives them capital to start getting to know and interact with the crypto world?
In our opinion, one of the easiest ways to invite more new users to enter the world of crypto and blockchain is to eliminate the barriers and frictions found in the conventional way.
The solution that Cashtree offers is the easiest to find, where Cashtree as a mobile advertising platform that has a rewards apps model has advantages in terms of experience, convenience, and free of charge, especially for users to enter and get acquainted with the world of crypto.
Cashtree, which has been known as an app that gives gifts, clearly has an advantage in attracting new users to get acquainted and get their first digital assets.
Reasons such as ease of use, no KYC process; because by law Cashtree is not a financial application that requires users to do KYC; and you don`t need capital to get digital assets, instead users will get them from Cashtree by exchanging their rewards in the application, which is an advantage that separates Cashtree from other business models, such as the crypto-based game model (Play-To-Earn / P2E).
By implementing crypto into its business, it means that Cashtree can bring all Cashtree users on a massive scale to enter the crypto world. This makes Cashtree a very strategic partner, especially for crypto exchanges and various other crypto projects, because Cashtree (1) will bring the masses and their users to adopt crypto, and become a bridge that introduces various crypto projects and benefits that exist in the crypto world. for crypto industry players and crypto projects, and (2) will bring the masses of users into crypto users and also users of exchange / exchange platforms - bearing in mind that one way to monetize digital assets is through crypto exchanges / exchanges.
So, thus Cashtree has answered the questions we have raised together. Cashtree wants and will contribute and become one of the influential players, especially in helping increase the adoption rate of crypto in Indonesia and the world.
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