How do you educate petty traders in adopting Bitcoin?

AicecreaME

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Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

I have come to realize that mostly on daily basis, petty traders; hawker stall, street vendors, street hawkers, market men and women, kiosks do transactions often and frequently and they are not amongst the top class citizens in the society. Some are uneducated and are not anywhere near technology to get acquainted with blockchain and Bitcoin. I believe if they are informed and have knowledge about Bitcoin properly they will want to key into it so as to save themselves of unnecessary stress and expenses from banks and other groups.
What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.
What steps would you take in drawing the attention of the traders to Bitcoin?

Bitcoin is not for everyone. You can try to educate them by several means such as conducting some sort of bitcoin awareness program in areas where you see most people are uneducated in bitcoin or you can try to make infographics if you don't have much time to discuss it. Then just give away the infographics on the streets for them to read it on their own pacing. These are just a few examples of what you can actually do in educating these so-called petty traders.

However, it will be all up to them if they will give bitcoin a shot or not. It's still a personal preference after all. We can't force everyone to like and do bitcoin because we have our own preferences on how we want to do things. And just because it worked for us, it doesn't necessarily mean it would work for them too. To each his own. We can educate, but we cannot impose.

Mart1ncrypto

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I send them to read literature about Bitcoin, like this one. If they don't understand, then I don't want to waste time teaching them.

CryptSafe

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Quote from: teosanru on June 12, 2022, 03:30:50 PM

Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

I have come to realize that mostly on daily basis, petty traders; hawker stall, street vendors, street hawkers, market men and women, kiosks do transactions often and frequently and they are not amongst the top class citizens in the society. Some are uneducated and are not anywhere near technology to get acquainted with blockchain and Bitcoin. I believe if they are informed and have knowledge about Bitcoin properly they will want to key into it so as to save themselves of unnecessary stress and expenses from banks and other groups.
What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.
What steps would you take in drawing the attention of the traders to Bitcoin?

I am assuming petty traders here means the people who are trading goods for leaving like small shopkeepers and hawkers as you have mentioned and not crypto traders. So educating them is a hard task because these people aren't that literate they will adopt a change only if it is advantageous for them so if you can offer them some real quick incentive if they adopt Cryptocurrencies only then they will be interested in listening to you otherwise they would barely implement it. The best thing you can do is advise them to start accepting payments in bitcoin however that too won't really be directly profitable for them so I doubt they will do such a thing.

If I may ask what incentives are you referring to. Mention it so we can be informed and if applicable, we can give it a try.

teosanru

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Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

I have come to realize that mostly on daily basis, petty traders; hawker stall, street vendors, street hawkers, market men and women, kiosks do transactions often and frequently and they are not amongst the top class citizens in the society. Some are uneducated and are not anywhere near technology to get acquainted with blockchain and Bitcoin. I believe if they are informed and have knowledge about Bitcoin properly they will want to key into it so as to save themselves of unnecessary stress and expenses from banks and other groups.
What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.
What steps would you take in drawing the attention of the traders to Bitcoin?

I am assuming petty traders here means the people who are trading goods for leaving like small shopkeepers and hawkers as you have mentioned and not crypto traders. So educating them is a hard task because these people aren't that literate they will adopt a change only if it is advantageous for them so if you can offer them some real quick incentive if they adopt Cryptocurrencies only then they will be interested in listening to you otherwise they would barely implement it. The best thing you can do is advise them to start accepting payments in bitcoin however that too won't really be directly profitable for them so I doubt they will do such a thing.

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Quote from: BIT-BENDER on June 12, 2022, 02:08:00 PM

If by petty trader you mean the average low income earners that aren’t probably not used to technology or digital asset, well first you start your education by telling them about digital technology, if they don’t have functional devices you can advice them to get one, I also recommend a great deal of patience with them, it’s really hard for those type of people to believe in digital asset, you show them with examples how it’s better than the means they are already used to, and again you give them the opportunity to grow on the foundation you have already laid for them

This one really need some long patience and its true that handling out someone who do have zero knowledge about tech or on how it do works would be the toughest challenge of all.
Educating someone specially on trading wont really be something simple yet you would really be keen even on the slightest detail so that they would able to follow you on.
We know that not all does have that kind of long patience on teaching someone.You could really actually give out some key points which they could easily deal and
understand it but always anticipate that things wont really be fine along the way.

n0ne

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Quote from: Disruptivas on June 12, 2022, 08:21:53 AM

When I think about adoption, I really don't think traders need to be educated about Bitcoin and cryptocurrencies. Any trader in the traditional market has all the tools, access and instruments needed to educate themselves about cryptocurrencies. If any trade until today has not been curious to make any operation in the crypto market, it is pure disgrace to him, due to lack of curiosity.

The issue of adoption for me today is only relevant in terms of populations with little access to the capital market and no education for traders.

First of all cryptocurrency hasn't reached every nook and corner. Even if we ask to information technology professionals they don't know about cryptocurrency. This means there is a need for even wider spread about the cryptocurrency. To be curious, initially people need to know about it. More tools are available to learn, and the process will happen slowly.

Initially people weren't able to make use of smartphones, slowly people got used to it. Further found difficult using digital payments and now the user friendly applications have made everything possible, even to the people who haven't got basic education. So, with time we can expect people using cryptocurrencies.

BIT-BENDER

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If by petty trader you mean the average low income earners that aren’t probably not used to technology or digital asset, well first you start your education by telling them about digital technology, if they don’t have functional devices you can advice them to get one, I also recommend a great deal of patience with them, it’s really hard for those type of people to believe in digital asset, you show them with examples how it’s better than the means they are already used to, and again you give them the opportunity to grow on the foundation you have already laid for them

CryptSafe

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Quote from: Minecache on June 12, 2022, 05:05:18 AM

Quote from: SatoPrincess on June 10, 2022, 08:28:14 AM

Quote from: CryptSafe on June 09, 2022, 06:05:39 AM

The petty traders I meant are hawker stall, street vendors, street hawkers, market men and women, kiosks that do daily trading often.

These kind of traders are common in my country. They are small scale businesses, frankly as much as I love businesses adopting cryptocurrency, I have to say I don’t think it is a good idea for them to adopt bitcoin, it’s not realistic, the total worth of the goods they trade on an average is about $80-$300. In my country for example, the hawkers who move about selling products, they are mostly young children and teens who do not have an mobile device with internet connection. How can they accept bitcoin as payment?

In my country there are also a lot of merchants doing this business, they often move to sell and these hawker stall are mostly elderly and they don't use smartphones much, paying with bitcoin can become difficult for them. Besides, their customers are mainly children whose parents give them some pocket money so paying with bitcoin is not feasible.

Well in my own country, there are youths that do hawk and kiosks too. I happened to engage in interaction with one of them I had to put them through the process. We carried out a practical exercise. I bought something from him and paid in usdt. He saw it and was amazed since then he nicknamed me usdt.

CryptSafe

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Quote from: Disruptivas on June 12, 2022, 08:21:53 AM

When I think about adoption, I really don't think traders need to be educated about Bitcoin and cryptocurrencies. Any trader in the traditional market has all the tools, access and instruments needed to educate themselves about cryptocurrencies. If any trade until today has not been curious to make any operation in the crypto market, it is pure disgrace to him, due to lack of curiosity.

The issue of adoption for me today is only relevant in terms of populations with little access to the capital market and no education for traders.

In as much as you have said, most of these people are not in any way near technology or blockchain so I think talking to them and putting them through would be nice so that they don't fall victim of scam. I believe you learnt from someone how these blockchain works so it wouldn't be any wrong teaching them too.ody times, these are the little things we need to attend to in the system because it sometimes when neglected causes a bitter experience for the novice which makes them feel like the system is not working due to their first hand experience.

Disruptivas

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When I think about adoption, I really don't think traders need to be educated about Bitcoin and cryptocurrencies. Any trader in the traditional market has all the tools, access and instruments needed to educate themselves about cryptocurrencies. If any trade until today has not been curious to make any operation in the crypto market, it is pure disgrace to him, due to lack of curiosity.

The issue of adoption for me today is only relevant in terms of populations with little access to the capital market and no education for traders.

KennyR

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Quote from: Minecache on June 12, 2022, 05:05:18 AM

Quote from: SatoPrincess on June 10, 2022, 08:28:14 AM

Quote from: CryptSafe on June 09, 2022, 06:05:39 AM

The petty traders I meant are hawker stall, street vendors, street hawkers, market men and women, kiosks that do daily trading often.

These kind of traders are common in my country. They are small scale businesses, frankly as much as I love businesses adopting cryptocurrency, I have to say I don’t think it is a good idea for them to adopt bitcoin, it’s not realistic, the total worth of the goods they trade on an average is about $80-$300. In my country for example, the hawkers who move about selling products, they are mostly young children and teens who do not have an mobile device with internet connection. How can they accept bitcoin as payment?

In my country there are also a lot of merchants doing this business, they often move to sell and these hawker stall are mostly elderly and they don't use smartphones much, paying with bitcoin can become difficult for them. Besides, their customers are mainly children whose parents give them some pocket money so paying with bitcoin is not feasible.

In my country things have advanced a little. It is possible to see hawker stalls on the street accepting digital payments connected to the banks. In rural regions this isn't available much, almost every stall on the urban region have got digital payment QR codes placed for the users to make the payment. Maybe the next level of growth will take towards cryptocurrency acceptance. Maybe if my country regulate the usage few stalls on the street might start accepting cryptocurrency as payment. Right now our country haven't taken any official decision on cryptocurrency usage.

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Quote from: SatoPrincess on June 10, 2022, 08:28:14 AM

Quote from: CryptSafe on June 09, 2022, 06:05:39 AM

The petty traders I meant are hawker stall, street vendors, street hawkers, market men and women, kiosks that do daily trading often.

These kind of traders are common in my country. They are small scale businesses, frankly as much as I love businesses adopting cryptocurrency, I have to say I don’t think it is a good idea for them to adopt bitcoin, it’s not realistic, the total worth of the goods they trade on an average is about $80-$300. In my country for example, the hawkers who move about selling products, they are mostly young children and teens who do not have an mobile device with internet connection. How can they accept bitcoin as payment?

In my country there are also a lot of merchants doing this business, they often move to sell and these hawker stall are mostly elderly and they don't use smartphones much, paying with bitcoin can become difficult for them. Besides, their customers are mainly children whose parents give them some pocket money so paying with bitcoin is not feasible.

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Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

I have come to realize that mostly on daily basis, petty traders; hawker stall, street vendors, street hawkers, market men and women, kiosks do transactions often and frequently and they are not amongst the top class citizens in the society. Some are uneducated and are not anywhere near technology to get acquainted with blockchain and Bitcoin. I believe if they are informed and have knowledge about Bitcoin properly they will want to key into it so as to save themselves of unnecessary stress and expenses from banks and other groups.
What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.
What steps would you take in drawing the attention of the traders to Bitcoin?

This would be a very great move to spread Bitcoin adoption across the countries.
The truth have to be told, any country not legalizing Bitcoin or as its adoption will be very Mean knowing that those petty traders do transact constantly and they are most hardly to be convinced since is always stressful for them to hawk around or seating at a particular spot to make their earnings. You can't expect a street Fish sell to start using smart phone to send transaction with bitcoin or any other cryptocurrency, it would be Ideal if they have offices or branch where they have workers. maybe their cashier or financial administrator working towards to achieved that parts. Petty Traders are the most Difficult people to approached in terms of online transactions or it could be possible only though the educated amongst them.

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Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.

They are biggest unbitcoined population in this world and they are quickly getting roped into altcoin and shitcoin schemes with their small cap income and ending up either with a token with no value and plain scammed.

Quote

What steps would you take in drawing the attention of the traders to Bitcoin?

It is not our job to educate them. Unless they realize the pros and cons of bitcoin and starts with the impetus of asking around, it becomes difficult to bring them to the bitcoin world.

Whenever you are trying to educate someone, the impetus coming from the teacher does not have a good impact unless the impetus comes from the learner. Still for those who I have come across I have tried to explain what bitcoin is and how it works, mostly teaching them how to avoid scams in the market and how to trade and open a trading account on a local exchange.

Most of these users have been lost to follow-up because they find the concept of "digital" in currency to be bag of shit or bitcoin to be too expensive and continued with the stock market that they already did.

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Quote from: CryptSafe on June 09, 2022, 09:08:54 AM

Quote from: sunsilk on June 09, 2022, 07:39:31 AM

It's good to educate them but putting them into investing in bitcoin is unlikely and difficult to happen IMO.

And that is because they're doing their own hustle to put food into their tables and they barely save money so, as an investment, they might listen to us but unlikely invest.

They can't just sacrifice a budget of meal a day into an investment that they've just known. But I know that some of them might really get into it being inspired but still, they need to have a better explanation that this ain't just an overnight rich scheme.

Though investing isn't a bad idea but at their level, it would be nice educating these people and letting them know what they stand benefiting from blockchain. I think at first is teaching them on how it works and maybe if they are willing, you tell them they could accept Bitcoin as means of payment for their commodity which would ease them the time and stress of running around to and fro the bank if the need be.

That's where it should really start. Trying to make them understand how it works and how it likes. Maybe a few lessons from the tech and then with bitcoin as a whole.

That's the main course when you're goin to teach them because only a few of them might actually be interested in the tech. But for bitcoin as an asset, this is where the interest of theirs will be taken into account.

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Quote from: CryptSafe on June 09, 2022, 05:26:48 AM

I believe if they are informed and have knowledge about Bitcoin properly they will want to key into it so as to save themselves of unnecessary stress and expenses from banks and other groups.
What's your opinion in educating these petty traders and letting them know more about Bitcoin because I believe this is amongst the grassroot adoption which starts from the base as they do transact more often than some of the big companies we hear of. Although the petty traders do little amount but it is most often on daily basis.
What steps would you take in drawing the attention of the traders to Bitcoin?

Unfortunately you can't really educate them on it, because they have learned one thing and learning another thing may not be that easy for them. For example, we have regular people who learned how to trade dollar to our own fiat and back, that's all they do, and some learn to do it with like 5-6 different pairs, and between each other as well, so what they do is small time forex simply, but with hand and they have a place to do it.

These people can't learn how to trade crypto because they wouldn't be able to understand it, they are not really that "smart", even if they become super rich, they are still not there, why? Because trading bitcoin very well requires math, not just calculations, but real math, like chart reading and TA type of stuff.

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Quote from: CryptSafe on June 09, 2022, 06:05:39 AM

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The petty traders I meant are hawker stall, street vendors, street hawkers, market men and women, kiosks that do daily trading often.

If you can convince them that they will be getting a substantial amount of transaction in cryptocurrency per day then i bet they will change their mind in accepting them. Fact is that it is impossible to expect street vendors getting a substantial amount of transaction in cryptocurrency and hence they would not want to add anything out of their comfort zone.

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Quote from: CryptSafe on June 10, 2022, 10:45:37 AM

Quote from: SatoPrincess on June 10, 2022, 08:28:14 AM

Quote from: CryptSafe on June 09, 2022, 06:05:39 AM

The petty traders I meant are hawker stall, street vendors, street hawkers, market men and women, kiosks that do daily trading often.

These kind of traders are common in my country. They are small scale businesses, frankly as much as I love businesses adopting cryptocurrency, I have to say I don’t think it is a good idea for them to adopt bitcoin, it’s not realistic, the total worth of the goods they trade on an average is about $80-$300. In my country for example, the hawkers who move about selling products, they are mostly young children and teens who do not have an mobile device with internet connection. How can they accept bitcoin as payment?

You are ok to say that but don't you think as teens they are it would be a good move telling them about blockchain though they might not have any mobile phone to start up immediately but atleast the knowledge of it been instilled in them to give them a better edge in putting them ready for it.

How can you teach them when they do not have personal mobile to practice what you teach. Without practice, they may forget all you taught them after some time. It will be like pouring water into a basket.
Btw some shops in my region are skeptical of alternate means of payment because of scam experiences they have had in the past. They operate on cash only and the bigger shops accept bank transfers and credit cards.

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To start with online traders can offer discount on bitcoin payments. Once the bigger players start offering bitcoin payments, the customers will start adopting bitcoin. This will create demand for bitcoin payment system in the market and I bet soon small traders will also start to accept bitcoin and they will themselves learn how to accept bitcoin, from formal as well as informal sources.

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Quote from: Spack17 on June 11, 2022, 09:10:13 AM

Petty traders usually trade with small amounts of money. It doesn't make sense to use a money with a high value such as bitcoin for small amounts of money. In addition, they will have paid an excessive fee for this. It's not attractive at the moment.

still not a bit efficient and also constrained by their interests. Small traders with little money, of course they will never think about online transactions or even bitcoin, it will be very foreign. They only use paper money directly, because the transactions are small. It wouldn't be interesting right now. But maybe in the future there will be changes, because now online transactions using Fiat have started to be used and are easier.

Topic: How do you educate petty traders in adopting Bitcoin? (Read 603 times)