What is the connection between cryptocurrency and translations?

What is the connection between cryptocurrency and translations?
14.01.2021 | Financial translation

Is there a connection between cryptocurrency and translations? While many people predicted it would only be fancy, secure blockchain technology and decentralized digital currency become a global phenomenon over eleven years later.

Because cryptocurrencies have no central authority that sets their value, they are inherently global, so traders, miners, and investors can be located anywhere in the world. As in any globalized industry, professional translation plays a vital role in digital currency operations and investments. Suppose your business plans to create a new cryptocurrency and conduct an initial public offering (ICO). In that case, you should consider working with a translation service provider.

 

Translation of the website and mobile app for cryptocurrency

Your website and mobile apps need to be accessible to users worldwide to take advantage of the borderless nature of cryptocurrency.  You may have encountered the automatic site translation feature before. This tool translates web content in seconds. While it can be extremely useful, you have probably noticed that such translations are far from perfect.

Using this low-quality translation can lead to misunderstandings and leave potential customers and investors with a negative impression of your company. On the other hand, working with professional website translation specialists will help make your website and app available in the appropriate languages, which in turn will let your customers know that their business is important to you.

 

Website and app localization

Translating and localizing a website and apps is more than just translating text from one language into another; it considers cultural differences and the visual design of the website or app. For example, some languages take up more or less physical space on the page or read differently. This can affect how users interact with a web page or application.

Localization specialists can take these issues into account when translating your website or apps. When deciding which translation service provider to work with, we also encourage you to choose a company experienced in search engine optimization (SEO) since using SEO capabilities is one of the most effective ways to reach potential customers.

 

Translation of cryptocurrency financial statements

Making your financial statements available in your native language to international shareholders and stakeholders is invaluable. A professional translation company specializing in financial translation will translate your financial documents, such as income tax reports and balance sheets, to a high standard.

As is true in most industries, it is highly recommended that you work with a translator with an appropriate specialization. However, when looking for a suitable financial interpreter, you should choose a translation service provider that uses the appropriate software; the large volume of data presented in financial documents makes them particularly susceptible to human error. The best translation agencies combine professional human translation with intelligent software.

 

Official document translation

Companies that want to raise money to create a new coin, app, or service often launch ICO to raise funds by investing. ICO white papers, which contain important information, are an extremely effective ICO marketing tool used to communicate with potential investors.

Presenting your official documentation solely in English limits the number of investors you can contact. Professional translation by a translation service provider experienced in working with official documents related to cryptocurrency and blockchain technologies into the appropriate languages will greatly increase your investment potential.

 

What languages to translate

It is estimated that only 20% of cryptocurrency investors speak English, so it is obvious how limited the creation of only English-language content can be. The cryptocurrency world is international; in Chainanalysis's 2020 report on cryptocurrency geography, only 12 of the 154 countries analyzed had so little cryptocurrency activity that they were given an index score of 0.

So you need to translate your content into as many languages as possible. However, it takes time and money. You can start with a smaller number of languages relevant to some major players in the cryptocurrency sector, such as Japan, South Korea, China, and Russia.

 

Conclusions

Websites and apps, financial statements, and official documents are just three examples of the many areas in which high-quality translation can help companies and individuals make the most of the global opportunities that the cryptocurrency sector offers. By creating content only in English, you may be missing out on a significant investment.

 

If you need a translation agency with extensive experience with cryptocurrency documents, contact iText. We have several clients in this field with whom we have worked for many years. Our team of experienced translators has extensive experience in this type of translation. For more information or a translation quote, contact us today.

Get a quote

Press “Get a quote” to use our client portal

Because cryptocurrencies have no central authority that sets their value, they are inherently global, so traders, miners, and investors can be located anywhere in the world. As in any globalized industry, professional translation plays a vital role in digital currency operations and investments. Suppose your business plans to create a new cryptocurrency and conduct an initial public offering (ICO). In that case, you should consider working with a translation service provider.

Our Clients

iText Translation Agency is not only professional translators but also clients, without which we could never develop our skills, improve our knowledge and reach new heights in the translation industry.