What are “Crypto Wednesdays”?
Simply put, that on Wednesdays you only make purchases using cryptocurrency.
Today, this severely limits where you can spend your money one day of the week. Many of your purchases are not optional and will have to be made on other days rather than Wednesday. But it also focuses purchases toward those businesses that have chosen to accept cryptocurrency.
Of course, Crypto Wednesday’s effectiveness toward evangelism is dependent on you as a would-be customer notifying the business that does not accept crypto payments that you will be taking your business elsewhere on Wednesday.
- To grow the number of online and local businesses that accept cryptocurrency payments from their customers.
- To grow the proportion of everyday transactions that take place with cryptocurrency relative to credit/debit cards, checks, cash, and the various cash apps.
- To improve financial security and (if you’re using a privacy coin) privacy for everyone.
Why this way?
Because “Crypto Wednesday” is a catchy phrase, and uniting with your fellow crypto-lovers around the world can be fun, all while pushing for a better world.
“Crypto Wednesday” can become a recognized phrase and a phenomenon that merchants may recognize till it drives them to ‘opt-out’ of being excluded by finally accepting cryptocurrencies.
Whether it’s a meal, a drink, grocery or other retail shopping, on Wednesday you can visit the store you would have patronized and let them know it’s Crypto Wednesday and ask them whether they accept crypto.
Then either go on to shop at the places you know do accept crypto or go unpack your sack lunch with food you bought another day.
Be honest. Don’t harass dozens of businesses by pretending you would have made a purchase when you never had any intent to become a customer.
Many online merchants may not have a place for you to let them know that you aren’t shopping with them because they don’t take crypto, but you can look for an address to send an email to their customer service, asking them to accept cryptocurrency.
Small or sole proprietor businesses
What about your private tutor, your dance or musical instrument instructor? Tell them you want to pay them in crypto. But if they insist on fiat, schedule payment on a non-Wednesday.
If you have a one-time urgent need that requires you to hire out (e.g. some technician to fix a breakdown in your house) do pay them before they leave, even if it’s a Wednesday.
Friends and family
If you need to reimburse or otherwise pay or be paid by your friend or family member, invite them to accept or pay with crypto. Help them get set up with it and teach them about it (see evangelism). If they’re not interested, tell them you’ll pay them on a non-Wednesday.
Don’t create a debt with them on a Wednesday and tell them you can’t pay them till tomorrow though. That’s not cool.
Help folks understand:
- The value of cryptocurrency to society (e.g. freedom from censorship, inclusive toward the ‘unbanked’, protection against inflation)
- An introduction to cryptocurrencies, and Zcash specifically.
- Tax requirements, or encourage them to talk with their CPA on their own. You don’t want your friend to go to prison for tax evasion.
- Why Zcash is awesome for businesses. In short, it combines great privacy with the broadest support from exchanges to get fiat.
Any business should do their due diligence to learn about applicable laws and tax implications when accepting cryptocurrency.
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