Crypto has been taking over different industries since its inception. In 2025, everywhere you go, there is at least someone who is using crypto in some sort of way. In fact, a 2022 report by DataReportal showed that more than one out of ten working-age internet users own or use some form of cryptocurrency. A more recent research by Triple-A revealed that in 2024, there were over 560 million crypto users around the globe. That is roughly 6.9% of the total global population. Since crypto has become so popular with people, entrepreneurs have taken it upon themselves to incorporate these digital currencies into their business models.
But the main question lingering in the minds of people is one. Why is this the case? What have people seen in crypto that makes them so suitable to replace traditional forms of payment? For example, xrp is one of the tokens that is being used for cross-border payments. The use of this token removes the need for people sending money across nations without the need for banks or third-party payment processors. The question again comes up. Why?
Greater financial independence
One thing about people is that they really value financial independence. Actually, everyone is working towards financial independence, entrepreneurs included. You see, conventionally, entrepreneurs always rely on financial institutions and investors in order to finance their businesses. Most of the time, these third parties often take a lot from the businesses, making the entrepreneur not reap all of his hard work. However, crypto has come up with strategies like initial coin offerings (ICO), initial NFT offerings (INO) and crowdfunding platforms, which allow businesses to fund their businesses without the need for third parties.
A good case study of a successful marketing campaign is Ethereum. In 2014, Vitalik Buterin, Ethereum’s founder, launched an ICO campaign where he managed to raise over $18 million. This funding model allowed him to maintain complete control over the development of the Ethereum platform. To this date, this campaign remains to be one of the most successful ICO stories. Another massive story is that of EOS, which managed to raise over $4 billion in the course of one year. These success stories inspire entrepreneurs to focus their energy on crypto, reducing the traditional modes of financing.
Global market access
Let’s face it: crypto has no boundaries, it has no borders. With such a payment system, you can reach the global market quite easily right from the start. You don’t have to develop for a long time, like traditional forms of businesses, in order to enter the global market. This means that entrepreneurs are given access to numerous opportunities right from the start of their venture.
Additionally, crypto offers numerous advantages for cross-border payments. For instance, crypto transactions are almost instantaneous compared to international bank transfers, which take days for a transaction to be complete. In fact, a report by PYMNTS revealed that 59% of Citibank’s clients complain of slow speeds. But now, take Bitcoin, for example; Bitcoin can take up to 40 minutes for a transaction to be complete, while Ethereum can go to as low as 14 minutes. Other altcoins like Tron and Avalanche can take as little as one minute to complete a transaction. Now, if you had the option of choosing between 10 minutes and five days for your transaction to complete, which one would you go for?
Low transaction cost
The inherent design of blockchain enables organisations to cut costs. The fact that there are no intermediaries makes the transaction costs significantly lower. For example, cross-border payments by consumers often attract a fee of 11%. This can be quite detrimental for smaller transactions. Well, according to the same report by PYMNTS, DeFi could lower transaction costs by up to 80% compared to traditional methods.
Now, what crypto charges are not really transaction fees but operational fees. This is basically the fee that is used to keep the blockchain running and maybe give incentives to the people who validate the transactions. So, for instance, Bitcoin will call it a network fee, Ethereum transactions will result in gas fees and Solana will just call them transaction fees.
Improved security
One of the biggest selling points of crypto is security. We are currently living in a world where financial services are one of the biggest targets of cyber criminals. In fact, according to a 2023 data breach report by IBM, the financial sector was the second-most target of cybercrime. Now, according to the IMF, the global financial sector has suffered nearly one-fifth of the total number of cyber attacks in the last two decades. Because of such statistics, entrepreneurs are really cautious about where they want to operate from.
Blockchain technology is among the most secure platforms there is. The concept behind this technology makes it nearly impossible to hack into blockchain platforms. Transactions in a blockchain network are stored in an immutable ledger, which is stored across a network of computers. This is unlike conventional centralised systems that store one copy of data on servers. With such security, entrepreneurs are more confident to transact with.
Wrapping up
It is very evident that the use of cryptocurrency has come with numerous advantages to entrepreneurs. The fact that there are faster transactions, lower transaction costs, more security and more financial independence tied to the use of crypto, we can expect to see more entrepreneurs joining this bandwagon in the coming years.
