Introduction – Dating Sites and Cryptocurrency
Cryptocurrencies gained a lot of momentum lately. You can now pay with cryptocurrencies in almost every industry. How is an online dating industry dealing with that? Rdvtorride managers shared their thoughts on this matter. We’ll provide an introduction to cryptocurrencies on dating sites.
Online Dating Market as a Promising Area for Using Cryptocurrency
The online dating market has a lot of potential because it’s one of the fastest-growing markets today. People need dates and relationships and online dating makes finding them simple. That’s why dating sites are so popular. They offer a simple solution for a big problem. Finding a gap like that in any market and knowing how to fill it is the path toward success.
So can cryptocurrencies help dating sites solve any of their problems? Definitely. Dating services make money by selling advertisement space or selling memberships and special features. Those who’re selling just add space won’t have a lot of use for digital currencies. But those who’re selling memberships to their users might hit a goldmine after implementing digital currency as a way of payment. Faster transactions and no additional fees will make everybody included happy. Users will have what they pay for in no time. Prices will go a bit down because of direct transactions between users and digital service.
Pros and Cons of Accepting Digital Currency as a Payment Mean on Dating Sites
At the moment it looks like cryptocurrencies have more cons than pros, but those pros are so good most businesses are starting to use digital currencies. Let’s see how those pros and cons affect the dating market.
Cons of Accepting Digital Currency as a Payment Method on Dating Sites
- most people don’t have any trust in digital money – that will change with time, but for now, a lot of people don’t trust cryptocurrencies. They don’t use them and they see businesses that do as some kind of fake companies. That opinion doesn’t make a lot of sense, but the good thing is – it’s changing.
- digital currencies are vulnerable to crypto attacks – everything on the Internet is vulnerable to cyber-attacks and digital money is attracting a lot of hackers (as expected). Not so many cases happen, but it’s understandable why people are so cautious about digital currencies.
- cryptocurrencies aren’t regulated by law – yes, they exist and some of them are safe to use, but none of the cryptocurrencies is regulated by law. That means if you invest everything in a digital currency and it turns out to be a total disaster, the law can’t protect you in any way.
Pros of Accepting Digital Currency as a Payment Method on Dating Sites
- they are faster than other payment methods – if a cryptocurrency is legit, paying with it is lightning fast. Since there are no third-parties between the sender and receiver everything is done quickly.
- implementing digital currency as a payment method on a dating site reduces costs – since there are no banks or any third parties included nobody pays for transactions. That will lead to a reduction of expenses for service providers. In the end, that means service providers will be able to reduce prices a little bit (or leave them the same, but use the new profit to make the user experience better).
Is it Safe to Use E-Wallets on Dating Platforms?
Do you remember what was the first thing you bought online? Or the first service you paid using anything other than cash? If you do, you have a pretty good memory because both of those things happened a long time ago. No, we aren’t calling you old, we’re pointing out that new things have to earn people’s trust before becoming widely accepted.
Luckily for all of us, e-wallets aren’t that new. You’re paying for things online using your phone all the time. That said, paying for the services dating platforms provide with your e-wallet shouldn’t be a problem. Before paying anything (not just on dating platforms), make sure that the company is legit. Of course, you won’t transfer your money to somebody who has a bad reputation among users. So you can use an e-wallet on any good dating platform without hesitation.
Cryptocurrencies are becoming more popular and safe, so we’ll witness a lot of romance between them and dating platforms soon.