The BackPage effect continues to change the face of Bitcoin and teach us all new lessons.
- 15k new Bitcoin users on paxful.com coming from BackPage.
- $100,000+ sent just using the “Pay with Paxful” button on BackPage in the first month.
- 20% increase in conversions as bitcoin education continues to grow within the industry.
- More BackPagers going to bitcoin ATMs for their bitcoin.
- There are at least 10 confirmed BackPagers SELLING bitcoin now.
The growth of the BackPage users as educated users of bitcoin has been staggering. While many newbies join every day and reach out for help there is a strong current of already educated users who are educating others and flying through the platform without need for any help. Many have already taken to selling bitcoin and are even helping to fight scammers.
While BackPage traffic is still growing it has largely leveled off but the rate of conversions continues to grow at an impressive rate. BackPage users, largely untechnical first met bitcoin with immense difficulty but after their first purchase they often embrace it. Many have called up after going on a bitcoin google binge and talked out ears off asking us questions about bitcoin.
The BackPage effect shows us that bitcoin can really come to the rescue of victims of economic censorship. The learning curve is steep and there is often resentment at having to learn a new system but once people get beyond this and see the value in a method of payment that cannot be censored many dive further and embrace the technology. There is a strong libertarian streak in a working class segment that refuses to work nine to five. Bitcoin may have very well found it’s defining role as reluctant superhero in the BackPage Effect.
We here at Paxful continue to rapidly iterate and improve out platform to cater to the mainstream. We are refining the system to be less for traders to trade between each other and more for traders to cater to the mainstream. LocalBitcoins has done a tremendous job in the trader to trader scene and we see our primarily value in building a platform to help traders supply the mainstream. The lessons we have learned here are valuable and we will be sharing them in future blog posts.
Here is to making getting your first bitcoin even easier.