Frankly speaking before joining read cash BCH was just another crypto currency among the plethora of such currencies floating in the crypto universe. I knew about it as it was always on the top 5-6 list. I did not take any further interest in it. I hold small amounts of some other crypto currencies.
After joining read cash I came to understand its value. I did not know there was a big fan base of BCH.
Everybody talks about non adoption of crypto currencies in our daily life is the biggest drawback. Everyone interested in crypto currency buys some, holds them, some stake them, some do crypto trading etc, and it is like one of the earning source just like keeping money in fixed deposit, mutual funds or stock investment. The ultimate aim of everyone is to get value out of it either by price appreciation or increasing the quantity held somehow.
I decided to make a small initiative from my side to use it in my family. My family consists of 3 members- myself, my wife and son. My wife is working in the health sector and my son is a first year engineering student.
Now a little about my family expenses but before that it is important to know my native currency and its USD value. My currency is Indian Rupee, the short form is INR. 1 USD = 73.13 INR as of today.
I give 5000 INR to my wife every week for all household expenses like grocery, vegetables or other miscellaneous purchases. She does the shopping. I give 1000 INR to my son every week for his pocket money. So my weekly fixed expenses are 6000 INR (82 USD), though some variables are always there.
My wife and son were not quite interested in crypto currency and it took a bit of convincing from my side to adopt the change. There primary concern was they should get the amount without much hassle and the value should remain the same as in local currency. I used to give the weekly expenses in cash to them and that was easy for them to deal with.
It all started on 16th of August; Sunday and today we have completed 2 weeks.
What did I do:-
With my money I buy the weekly requirement of BCH every Saturday or Sunday.
I created their individual wallet.
Now I transfer the equivalent amount of BCH to their wallet.
Whenever they require INR they sell it, transfer the money to their respective banks and use the INR as per there requirement.
For the 4th step I did it for them in the first week and from the second week they are doing it themselves.
I have guaranteed them that in case of value going down when they are actually en-cashing it, I will make up the difference and in case it goes up it is there bonus. It was required to guarantee them that they will not be at a loss due to the inherent volatile nature of crypto currency.
At the beginning they found the process cumbersome as now they have to access the wallet, and then sell the BCH, and then transfer the money to bank account. But when they did it themselves and saw that it takes very less time now they are quite convinced. I told them to make it a habit then it will be OK for them.
My earning from read cash is now a buffer to make up any loss of value. My only apprehension is that if there is a drastic change in valuation then my read cash earning (which is in itself is very less) may not be able to meet it.
I am also a member of a local social and charity society. My next step will be to convince them to accept BCH as store value and also one of the options to accept donations. I have started the process and hopefully will be successful also. The primary concern here also remains the same, the value fluctuation. I have to somehow create a hedge of at least 100 USD to deal with this fluctuation.
So this is my small effort at family level and my immediate future plan. It may sound silly and naive to some but for me it is my contribution towards BCH adoption.
If you want to collect donations, it might be a good idea to contact https://eatBCH.org . They have been successfully collecting donations for other countries for some time. Maybe you can work with them. Together you can achieve more.