What does the future hold for cryptocurrency in football?
There’s little wonder why the football industry is catching on to crypto. But what else does the future hold for digital money in the industry?
Cryptocurrency, or just plain crypto, is already seeing plenty of buzz on a global scale. If you’ve already heard of Bitcoin, then you’re already one or two steps ahead. Crypto is also picking up plenty of steam in the football industry. But why is this?
People from all over the world are getting into crypto for a number of reasons. One of the huge benefits of Bitcoin, for example, is the lack of regulation, and therefore the lack of red tape and barriers in place. The idea of letting money change hands without all the checks and hassle is very appealing!
Therefore, there’s little wonder why the football industry is catching on to crypto. But what else does the future hold for Bitcoin and other digital money in the industry?
Faster transfers – in more ways than one
As we all know, transfer windows are a frantic period for clubs at all levels. With such a limited time for teams to go out and buy players, deals can sometimes go right down to the wire before being confirmed. Miss the deadline, and your team could be up the spout for the rest of the season. The fact is, money takes a fair amount of time to process and transfer. That means some teams have to wait days on end for a purchase or a sale to complete.
With crypto, these windows could expand. There’s no need to wait for additional checks on either side of the chain. Transfers and payments are instant. That means, for example, Real Madrid can hand money over to Lazio for a new centre forward and Lazio will be able to hand over their player thanks to money already sitting in their account.
It could help to make things much more exciting in terms of football transfers and end the nervous wait for supporters as they await news of player arrivals or departures.
Ease of use
Some football teams are already getting deep into crypto for plenty of great reasons. Some are even paying their players in Bitcoin! Others are encouraging fans to buy merchandise and tickets online with crypto.
The fact is, crypto is easy to get into and manage by design. There are no awkward pieces of admin you need to sift through. New users can just leap into the BTC Profit engine, for example, and start monitoring the markets. It doesn’t take a genius to start seeing where the money lies.
Therefore, it’s likely football teams and brands will start opening things up more and more. A more open funding system for players and fans is going to make teams and brands look all the more appealing.
Breaking down global barriers
It’s safe to say that football is a global phenomenon. It’s been going this way since the middle of the last century! You’ll find Chelsea fans in Spain, AC Milan fans in Japan, and Bayern Munich supporters up in Iceland. There are fans and supporters all over the world.
Therefore, crypto will already be hugely appealing as a global funding standard. Fans and supporters won’t have to worry about fumbling around with exchange rates or changing money around to be able to buy from their favourite teams.
You’ll be able to buy tickets, strips and merchandise with one single currency. There’s no need for you to wait for GBP to transfer into Euros and vice-versa. There are no threats of you losing value on the transfer, either.
A straightforward, global payment system will entice global fans. It means that transactions will be instantaneous and accessible from wherever you are in the world. Even more, for football teams, it means that they will be able to reach out to an even wider audience. It means greater revenues, generally, in the years to come.
What’s taking so long?
One of the reasons why football seems so slow to pick up on crypto is likely down to the shaky legality. Many nations, such as Australia, have already embraced Bitcoin; however, nations such as the UK remain a little unclear on how exactly they are treating the currency.
Therefore, widespread adoption is still forthcoming. However, the football industry is moving ahead with the times pretty quickly. It’s safe to say that teams are needing to keep up with online tastes and demands. Fans now expect to buy tickets on the go. They expect to be able to bet on matches while they’re in progress, too.
Therefore, it’s not too surprising that some enterprising football teams are already leaping into crypto. On the whole, it’s going to break down global barriers, and it’s going to open massive revenue doors for teams and brands. So – while it’s not completely clear where crypto will be heading in the industry just yet – it’s clear something’s going to change in a big way sooner rather than later.
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