Bitcoin, considered by many to be the original cryptocurrency, was founded in 2009. While many predicted it would be a fad, over eleven years later secure blockchain technology and decentralized digital currencies are a global phenomenon. But why is it important to understand the link between cryptocurrency and translation?
Because cryptocurrencies don’t have a central authority setting their value, they are global by nature, and traders, miners, and investors come from all over the world. As with any globalized industry, professional translation plays a vital role in digital currency transactions and investments, and if your business plans to establish a new cryptocurrency and conduct an Initial Coin Offering (ICO), you should consider working with a translation service provider.
Cryptocurrency Website and App Translation
In order to take advantage of cryptocurrency’s borderless nature, your website and mobile apps should be accessible to users around the globe. If you have ever been on a website originally written in another language, you may have seen the automatic translation function. This tool translates web content in seconds and, while this can be extremely useful in a bind, you have probably also noticed that these translations are far from perfect.
Relying on this subpar translation may lead to misunderstandings and leave potential clients and investors with a negative impression of your company. Working with professional website translators to make your site and app available in the relevant languages, on the other hand, will let your clients know that their business is important to you.
Website and App Localization
Website and app translation and localization is more than the transference of a text from one language to another; it takes into account cultural differences and the way a website or app looks visually. For instance, some languages take up more or less physical space on a page or are read in a different direction. This can impact the way users interact with a webpage or app.
Localization experts will take these issues into account when translating your website or app. When choosing a translation service provider to work with, we also recommend opting for a company that has experience translating with search engine optimization (SEO), as harnessing the power of SEO is one of the most effective ways to reach potential clients.
Translating Cryptocurrency Financial Reports
Ensuring that your international business shareholders and stakeholders are able to access your financial reports in their native language is invaluable. A professional translation service specialized in financial translation will translate your financial documents, such as income tax reports and balance sheet statements, to a high standard.
As with most sectors, it is highly recommended to work with a translator with relevant specialization. However, as you search for the right financial translator, it’s essential that you opt for a language service provider that utilizes appropriate software; the high volume of figures present in financial documents makes them particularly susceptible to human error. The best translation agencies combine skilled human translation with smart software.
Translation of White Papers
Companies who want to raise money to create a new coin, app, or service often launch an ICO as a way to secure funds through investment. ICO white papers, which contain crucial information, are an extremely effective ICO marketing tool when used to communicate with potential investors.
Producing your white papers solely in English limits the investors you can reach. Having them professionally translated by a language service provider with experience of working with white papers associated with cryptocurrency and blockchain technologies into relevant languages will significantly enhance your investment potential.
Which Languages to Translate
It’s estimated that only 20% of crypto investors are English-speaking, so it’s clear to see how limiting producing English-only content can be. The world of cryptocurrency is truly international; in fact, in the Chainanalysis 2020 Geography of Cryptocurrency Report, out of 154 countries that were analyzed, only 12 had so little cryptocurrency activity that they were given an index score of 0.
There is, therefore, an argument to translate your content into as many languages as possible. However, this takes time and money, and you may wish to start with a smaller pool of languages relevant to some of the bigger players in the cryptocurrency sector, such as Japan, South Korea, China, and Russia.
The Takeaway
Websites and apps, financial reports, and white papers are just three examples of the many areas where high-quality translation can help companies and individuals make the most of the global opportunities the cryptocurrency sector has to offer. By producing English-only content, you could be missing out on significant investment.
If you’re looking for a translation service provider with extensive experience working with cryptocurrency documents, look no further than BeTranslated. We have a number of clients in the field that we have been working with for many years, and our team of skilled translators is highly-experienced at this type of translation. For more information or a free, no-obligation quote, contact us today.
