{"id":1866,"date":"2023-02-15T18:00:49","date_gmt":"2023-02-15T12:30:49","guid":{"rendered":"https:\/\/www.ulatus.com\/translation-blog\/?p=1866"},"modified":"2023-02-13T18:27:20","modified_gmt":"2023-02-13T12:57:20","slug":"cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions","status":"publish","type":"post","link":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/","title":{"rendered":"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions"},"content":{"rendered":"

One of the main reasons behind the growth of crypto is that it is borderless. Without being controlled by any single central bank or financial institution, everyone who uses crypto can refer to the same product in a single language. This has been essential to the adoption of cryptos for various uses and may change global finance in the future.<\/p>\n

However, this also poses a problem for users since we do not speak a single language around the world. It can therefore create confusion and misinformation if users cannot clearly understand each other. So, there is a need to have crypto-related information and terminology translated to increase crypto adoption and penetration.<\/p>\n

Understanding Crypto Translation<\/h2>\n

Crypto translation is the linguistic process of making crypto content accessible in multiple languages. The point is to allow users to access content in the language with which they are most familiar and comfortable with without changing the conveyed message. As Nelson Mandela said, \u201cIf you talk to a man in a language he understands, that goes to his head. If you talk to him in his language that goes to his heart.\u201d<\/p>\n

At this moment, people rely on web-based translation services and mobile apps like Google Translate and DeepL Translate to read content in another language. Even most video-sharing websites and platforms, such as YouTube, now have a translation feature to encourage viewers from around the world to enjoy the content. But the problem is that these features, although important, are imperfect at best and ineffective at worst.<\/p>\n

Unlike these services that rely on AI and algorithms, crypto translation involves real people doing the translation of crypto content. Not only is this more accurate, it\u2019s also more effective because the translator can bring out the nuance in the native language to avoid ambiguity that usually arises when using automated services.<\/p>\n

Why Crypto Translation Is So Important<\/h2>\n

Beyond simply making crypto information more accessible, crypto translation has a lot of benefits for the users and the industry as a whole. To demonstrate this, let\u2019s look at two ways you can benefit from the service:<\/p>\n

Promoting cross-border payments and global commerce<\/h3>\n

Crypto transactions are indeed superior to traditional methods of making cross-border payments and remittances in a lot of ways. For instance, crypto has made it possible for transactions to be executed almost instantaneously while charging far lower fees compared to, for example, bank transfers. In an increasingly globalised world, this is extremely useful because it\u2019s encouraging people to offer their services online or send money across borders without the fear of restrictions.<\/p>\n

Crypto translation enhances such transactions because users from all over the world can understand each other more clearly. Imagine the contention that could ensue if a buyer and a seller disagreed over the terms of a deal simply because of a misunderstanding due to language differences. Consider this ScienceDirect<\/a> article that found that a 10% increase in the Language Barrier Index could result in a 7% to 10% decrease in trade between countries. This is why businesses should not ignore the localization of their content across the regions where their prospects can be found.<\/p>\n

Safer, More Informed Investments<\/h3>\n

Cryptocurrencies are one of the best forms of investment and have outperformed mainstream financial markets. For example, Bitcoin has soared over 175% over the past 5 years while the Dow Jones index has gone up 33% during the same time. The problem is that many people cannot participate simply due to a language barrier.<\/p>\n

Translation would make it easier for users around the world to access crypto platforms where they can invest. It would also allow investors to read important information, such as news articles, alerts, and related documents, like whitepapers, to become more informed and thus perform better.<\/p>\n

The Impact of Regulatory Developments on Crypto Translation<\/h2>\n

Crypto regulations haven\u2019t been harmonised, leaving every region\u2019s financial regulator to monitor the market independently. As you can imagine, this has been chaotic as we have seen various jurisdictions taking vastly different approaches. This is changing, however, and there\u2019s talk of standardised crypto regulation as regulators are starting to coordinate efforts to monitor cryptos and protect users.<\/p>\n

Should this happen, it will be imperative to communicate the terms of the regulations to all crypto users. Crypto translation will be essential toward this goal because, as we have discussed, it helps to deliver a concise message without any misunderstanding. Most regulators will probably have to acquire translation services<\/a> by experts with legal expertise to ensure that users are well informed about the impact of regulations on their investments.<\/p>\n

Things to keep in mind while translating crypto text<\/h2>\n

For crypto translators, there are certain aspects that need to be considered before attempting a translation:<\/p>\n

Avoid direct translations<\/h3>\n

Because cryptos are still relatively new, most languages don\u2019t have native terms describing the technology. It would be wrong to make a direct translation of crypto terms as translation software usually does, though, and would be better to stick with the original.<\/p>\n

For example, French speakers are more likely to use the word blockchain<\/em><\/a> rather than cha\u00eene de blocs<\/em> as a direct translation. Thus, you should understand which terms to adapt and which to replace with the native language.<\/p>\n

The Original Message Is Key<\/h3>\n

A little paraphrasing here and there isn\u2019t altogether terrible because, at the end of the day, only the original message matters. Besides, that is the intended goal of crypto translation anyway, as long as you keep it simple and understandable.<\/p>\n

Best Practices for Safely and Effectively Performing Crypto Translation<\/h2>\n

Translation is about retaining the original content while delivering the message accurately. This means maintaining certain practices for the best results, such as<\/p>\n

Comprehend Fully First<\/h3>\n

The most important principle for a translator is to deliver accurate information, which can sometimes be lost in translation. To avoid this, the translator must fully understand the content on which they\u2019re working and then put it down in the local language<\/a>. Otherwise, the information could be misleading and lead to even more problems.<\/p>\n

Use Native Speakers<\/h3>\n

Every language has certain unique terms and patterns of language of speech that enhance its understanding. Native speakers know these quirks and are thus able to make more effective translations compared to someone who\u2019s simply fluent in the language. That is why native speakers are the preferred translators for any given language.<\/p>\n","protected":false},"excerpt":{"rendered":"

One of the main reasons behind the growth of crypto is that it is borderless. Without being controlled…
Continue Reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":1867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_metadesc":"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.","footnotes":""},"categories":[404],"tags":[],"acf":[],"yoast_head":"\nCryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog<\/title>\n<meta name=\"description\" content=\"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog\" \/>\n<meta property=\"og:description\" content=\"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/\" \/>\n<meta property=\"og:site_name\" content=\"Ulatus Translation Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-15T12:30:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-13T12:57:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ulatus.com\/translation-blog\/wp-content\/uploads\/2023\/02\/Cryptocurrencies-A-Global-Currency-That-Needs-Translation-for-Local-Solutions-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ulatus\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ulatus\" \/>\n<meta name=\"twitter:site\" content=\"@ulatus\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ulatus\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/\",\"url\":\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/\",\"name\":\"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/#website\"},\"datePublished\":\"2023-02-15T12:30:49+00:00\",\"dateModified\":\"2023-02-13T12:57:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/c9d0e17194263c08780b5ee65db70abf\"},\"description\":\"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ulatus.com\/translation-blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/#website\",\"url\":\"https:\/\/www.ulatus.com\/translation-blog\/\",\"name\":\"Ulatus Translation Blog\",\"description\":\"Translation Trends & Insights\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ulatus.com\/translation-blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/c9d0e17194263c08780b5ee65db70abf\",\"name\":\"Ulatus\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8c2dc3dd7a4d0d29a1f014025211b3a9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8c2dc3dd7a4d0d29a1f014025211b3a9?s=96&d=mm&r=g\",\"caption\":\"Ulatus\"},\"description\":\"The Ulatus blog is a source of insight into topics related to globalization and international expansion. We seek to share meaningful content that will help you communicate to audiences in whole new locations in their preferred language. Our content covers a variety of industries and international business topics that we think would be useful to those looking to grow beyond their regional borders. Subscribe or leave us some feedback on what you think would make our content even better About Us Ulatus, a Crimson Interactive company, is a trusted brand for professional localization services. We established in 2005, with a mission to eliminate language as a barrier to globalization. We empower companies with quality and customizable localization solutions that drive continuous business growth through effective communication coupled with the latest in technology. What sets us apart? We work with 3000+ linguists to provide subject area expertise in 200+ languages. Our state-of-the-art technology and robust ISO-certified Quality Control Processes ensure positive experiences and impactful results for all our clients. For more information, please email us at Connect@Ulatus.com\",\"sameAs\":[\"https:\/\/www.ulatus.com\"],\"url\":\"https:\/\/www.ulatus.com\/translation-blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog","description":"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/","og_locale":"en_US","og_type":"article","og_title":"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog","og_description":"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.","og_url":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/","og_site_name":"Ulatus Translation Blog","article_published_time":"2023-02-15T12:30:49+00:00","article_modified_time":"2023-02-13T12:57:20+00:00","og_image":[{"width":750,"height":430,"url":"https:\/\/www.ulatus.com\/translation-blog\/wp-content\/uploads\/2023\/02\/Cryptocurrencies-A-Global-Currency-That-Needs-Translation-for-Local-Solutions-.jpg","type":"image\/jpeg"}],"author":"Ulatus","twitter_card":"summary_large_image","twitter_creator":"@ulatus","twitter_site":"@ulatus","twitter_misc":{"Written by":"Ulatus","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/","url":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/","name":"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions - Ulatus Translation Blog","isPartOf":{"@id":"https:\/\/www.ulatus.com\/translation-blog\/#website"},"datePublished":"2023-02-15T12:30:49+00:00","dateModified":"2023-02-13T12:57:20+00:00","author":{"@id":"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/c9d0e17194263c08780b5ee65db70abf"},"description":"The crypto industry requires crypto translation to continue growing because it provides the best way to reach all users across the world for various reasons.","breadcrumb":{"@id":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.ulatus.com\/translation-blog\/cryptocurrencies-a-global-currency-that-needs-translation-for-local-solutions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ulatus.com\/translation-blog\/"},{"@type":"ListItem","position":2,"name":"Cryptocurrencies: A Global Currency That Needs Translation for Local Solutions"}]},{"@type":"WebSite","@id":"https:\/\/www.ulatus.com\/translation-blog\/#website","url":"https:\/\/www.ulatus.com\/translation-blog\/","name":"Ulatus Translation Blog","description":"Translation Trends & Insights","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ulatus.com\/translation-blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/c9d0e17194263c08780b5ee65db70abf","name":"Ulatus","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ulatus.com\/translation-blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8c2dc3dd7a4d0d29a1f014025211b3a9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8c2dc3dd7a4d0d29a1f014025211b3a9?s=96&d=mm&r=g","caption":"Ulatus"},"description":"The Ulatus blog is a source of insight into topics related to globalization and international expansion. We seek to share meaningful content that will help you communicate to audiences in whole new locations in their preferred language. Our content covers a variety of industries and international business topics that we think would be useful to those looking to grow beyond their regional borders. Subscribe or leave us some feedback on what you think would make our content even better About Us Ulatus, a Crimson Interactive company, is a trusted brand for professional localization services. We established in 2005, with a mission to eliminate language as a barrier to globalization. We empower companies with quality and customizable localization solutions that drive continuous business growth through effective communication coupled with the latest in technology. What sets us apart? We work with 3000+ linguists to provide subject area expertise in 200+ languages. Our state-of-the-art technology and robust ISO-certified Quality Control Processes ensure positive experiences and impactful results for all our clients. For more information, please email us at Connect@Ulatus.com","sameAs":["https:\/\/www.ulatus.com"],"url":"https:\/\/www.ulatus.com\/translation-blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/posts\/1866"}],"collection":[{"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/comments?post=1866"}],"version-history":[{"count":0,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/posts\/1866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/media\/1867"}],"wp:attachment":[{"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/media?parent=1866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/categories?post=1866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ulatus.com\/translation-blog\/wp-json\/wp\/v2\/tags?post=1866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}