Gone are the days when Indian citizens who wanted to get online and connect would have to visit an internet cafe or try to power up an unreliable laptop at home. Today, we are a nation that is connected and online like never before, and it’s all due to the powerful little devices each of us carries in our pockets. Yes, we all know that the smartphone revolution has changed everything about our lives, but how many of us have stopped to think about what it means for the crypto space?

To show you what’s happened, we’re going to take a closer look at the importance of the social side in the world of cryptocurrencies and online finance.

Greater Visibility Through New Formats

One of the most important and yet often overlooked ways that a new paradigm can become the new norm is through the visibility of new formats. For example, receiving a Bitcoin casino bonus shows players of traditional online casino games the crypto world in a whole new light. These types of formats are one of the main reasons for the robust crypto growth in India, which is being watched carefully by many analysts and commentators. By making the move to crypto feel like a natural extension of many of the existing online activities, the industry can embed itself in popular culture in a way that builds trust while amplifying exposure. 

Lower Barriers For New Entrants 

The crypto world no longer has to be one in which you have to have an immense amount of CPU power behind you to make a meaningful impact. Today, cryptocurrencies can be bought, sold, and used with nothing more than a smartphone and a streamlined app, allowing anyone to enter a new space and see what it has to offer. The lower the barrier to entry, the higher the adoption rate will be. 

Another key thing to notice here is that the more people adopt a new system or approach, the more referrals and recommendations are made to their friends and family. Once a critical mass is reached, there is enough public awareness of a new initiative that each new update or advance is instantly well-known. This is how crypto is becoming increasingly mainstream. 

Convenient Real-World Applications 

Alongside lower barriers to entry and higher awareness levels come a commensurate increase in the number of real-world applications. For crypto to move beyond an asset class that people want to invest in and become a direct competitor to fiat currency, it has to be just as easy to spend and receive. By making sure that the manner of the application is secure, streamlined, and clearly embedded into existing social settings and networks, developers are making it increasingly easy to move past fiat currency. 

Freedom For The Unbanked

There are still millions of Indians who do not have access to a traditional bank account or who do not have the physical infrastructure to bank in person in their local area. The social side of crypto means that more and more of the so-called ‘unbanked’ citizens of our country are finding new ways to conduct commerce. They are also finding new ways to make investments and finally make the financial world work for them. The end result is a greater level of freedom that allows anyone to move beyond traditional limitations and geographical constraints. 

The Democratisation Of Knowledge 

Last but by no means least, it is vital that we pay attention to the increased democratisation of knowledge that the overlap between the social and crypto worlds has delivered. Many coins began life as projects on chat boards and messaging threads, with each of them growing and evolving to the point they became freestanding communities in their own right. Today, we see more and more courses, educational platforms, and online influencers who are sharing knowledge and inviting others to contribute in any way that they feel able to. 

One of the fascinating things about this flourishing of knowledge is that people from all walks of life are seeing what is possible when they are finally given fully access. New ideas, strategies, and breakthroughs all become possible on a much larger scale thanks to the focus on sharing rather than siloing data and information. Exactly what’s needed when the crypto industry as a whole wants to continue growing and thriving so that it can fully embed itself in everyday life.

The Outlook Beyond 2025 

Now that you have seen the overall landscape of the crypto-meets-social world, it will be fascinating to see how things continue to evolve in the second half of the decade. After all, with the rise of AI and AR, could we see a whole series of increasingly immersive experiences that are powered and funded by cryptocurrencies? Only time will tell, but it will be very interesting to see what happens.