|
Cryptocurrency is hardly anything new anymore. It’s been around since 2009 with the accidental invention of the first decentralized cryptocurrency, Bitcoin. Despite the fact that it was created as part of a side project, it has opened up a world of modern transactions and innovation. Today, cryptocurrency is well known and well traded, with many major banks and companies accepting cryptocurrency as a form of payment.
What exactly is cryptocurrency?
Cryptocurrency is a digital currency that is completely decentralized, meaning that it doesn’t earn its value from a single person or entity but rather from the network of people who use it. Cryptocurrency is transferred online without ever being a physical object, so users can make transactions from anywhere in the world.
If you break it down to its most simple definition, cryptocurrency is just entries into a database that are limited by the entities who accept it. It’s just the same as any other currency if you think about it, as physical money is just entries into a database, but the database is public and physical. Money always needs to be verified in some kind of database, whether it’s a physical bank account or a digital one.
What is network marketing?
Network marketing is a business strategy and model that relies on a network of people to help grow a business or sell a product. Network marketing consists of three basic types of strategies in order to be profitable: lead generation, recruiting, and building and management. Highly successful network marketers, like the Toni Vans network marketing team, don’t just sell products for others to sell. They add partners to their network and then train, motivate, and manage new recruits to become just as successful as they are.
There are three main types of network marketing, although there are many more types of programs. The first is single-tier network marketing, where you simply sign up for an affiliate program to sell that company’s product or service. There’s no need to recruit others, and you only get paid if you make a sale. An example of this is Avon. Some single-tier programs are now online-based only, and you get paid for traffic you refer to the affiliate’s website.
The second type is two-tier network marketing, when you sign up with an affiliate and are paid for direct sales (or, in the case of online network marketing, direct web traffic referrals) as well as any referred traffic that was made by the people you have recruited to work under you. An example of this is SiteSell.
The third type is multi-level marketing (MLM). An MLM program is any distribution-based affiliate marketing program that goes two or more tiers deep. An example of this is LuLaRoe.
How does cryptocurrency factor into network marketing?
Network marketing involves a large number of people, sometimes connected across large distances when they are successfully run. One network marketing business could expand across the entire globe, so it’s clear to see why a digital currency would be an attractive option for quick and easy transactions. Without a centralized currency, having to worry about conversion rates and fees, and having transactions deposited slowly means much less headache for network marketers.
|
