By Michael B. Cohen
Vice President of Global Operations
MyChargeBack
The NFL often defines trends and sets the tone of what’s popular. If that’s the case, then the cryptocurrency trend is unstoppable. The most recent Super Bowl featured no less than four ads featuring cryptocurrencies.
The Tennessee Titans have brought the crypto trend a step forward with their adoption of bitcoin as a payment method for season tickets, PSLs and sponsorships. They join the Dallas Mavericks NBA team in their embrace of crypto payments. However, the Mavericks’ move is not surprising since the team is owned by Mark Cuban, an entrepreneur who frequently is featured on CNBC giving advice on safely investing in cryptocurrencies.
Other forms of football have embraced cryptocurrency – Binance, the world’s most recognizable crypto platform, became the official sponsor of Argentina’s soccer team. Back in the United States, Tom Brady, the ever-recognizable NFL great, introduced Autograph, his own crypto platform.
The Titans are partnering with UXTO, a Nashville-based digital asset fund. Increasingly, crypto platforms and other digital currency services are partnering with mainstream companies or organizations, raising the profile of cryptocurrency. It is safe to say that as sports greats validate the reputation of cryptocurrency, their fans are likely to follow suit or take their first steps towards the blockchain.
Pros and Cons of the Burgeoning Crypto Trend
There is no question that the trend is going to continue, since it shows no signs of slowing down. However, along with crypto enthusiasts, crypto skeptics are also vocal and express concern about the spread of these digital currencies in an as-yet unregulated blockchain.
One positive effect from the increasing number of companies using cryptocurrencies is that the blockchain will no longer seem merely like a back alley of the dark web, where all types of miscreants lurk to commit all types of cyber crime. The increased popularity of these currencies has caused governments to take notice and realize that regulation is needed to safeguard bitcoin transactions even as they plan to develop their own national digital currencies.
However, a potential negative outcome from the normalization of cryptocurrency is that it may lead to complacency about safety on the blockchain. At least in the past few years, consumers were aware that they had to tread carefully. With the increased adoption of crypto, the opportunities for crypto frauds also increase.
So, despite negative forecasts by crypto skeptics, cryptocurrency is not going away. However, neither is crypto fraud. Just as the public needed to be educated about the dangers lurking on the web in the early days of the internet, today’s consumers need crypto literacy about safeguarding their funds on the blockchain.
The first step is to inform consumers that someone has their back if their money is stolen from a bitcoin wallet or if they lose money to an unlicensed crypto broker. MyChargeBack’s aim is to educate consumers about safely using the blockchain and the steps they should take if they have lost money in crypto transactions.
Our team has extensive experience investigating cyber crime. Our Crypto Trace service uncovers fraud on the blockchain and can help victims of crypto fraud track down their funds.
MyChargeBack Will Help You Find Your Funds on the Blockchain
If you have lost money to a cryptocurrency scheme, seek fund recovery assistance right away. Consult with MyChargeBack experts and get started with your fund recovery claim. We have extensive knowledge and working relationships with regulators and more than 450 law enforcement agencies around the world, as well as the solutions that can improve your prospects of getting your cryptocurrency back
