June 16, 2017 (Investorideas.com newswire) In the last few years, Bitcoin has become a popular form of payment but many merchants and consumers, alike, are still skeptical of how (or if) it works. Like most things that can be difficult to understand, Bitcoin has received plenty of criticism.
While some are afraid that it's used to purchase illegal goods and services, others worry that it's a Ponzi Scheme; truthfully, Bitcoin is neither. Do you think that Bitcoin is just a fad or isn't worth your time?
Many experts believe that Bitcoin, also known as cryptocurrency, is a good thing and has a promising future. Let's take a look at the future and the positive things about Bitcoin.
The Value of Bitcoin
In early May of 2017, the value of Bitcoin reached $1,600. If you're interested in investing in Bitcoin but fear that you've missed your chance, it's not too late. Some experts project that the value of Bitcoin will raise to around $3,000 to $4,000 in a little over a year.
Even if it doesn't reach a value in the thousands, it's likely to keep rising, especially since Japan recently legalized Bitcoin as a form of payment. If more countries start seeing bitcoin as legit currency, it's likely to become a longstanding form of currency.
Some of the Advantages of Bitcoin
If you haven't thought much about Bitcoin or have only used it a few times, there may be more advantages to using cryptocurrency than you initially thought. First of all, you have complete over your money. Since there's no middleman, you don't have to worry about bank holidays or the bureaucracy that often goes with financial transactions.
If you use PayPal or even credit cards, it's definitely a convenient and secure way to receive money, but you end up having to sacrifice a percentage of the money to a fee.
The nice thing about cryptocurrency is that even though there is a fee when you receive bitcoins, you can choose a set fee (again, complete control). The fee doesn't increase when you receive a large amount of bitcoins.
Bitcoin is secure, it can be trusted, and you don't need to share any personal information. For this reason alone it should help reduce the risk of identity theft or fraud.
Start Seeing More Bitcoin
Since cryptocurrency remains such a new and foreign concept to online businesses, we may never see a full acceptance of Bitcoins in the e-commerce world. There are many businesses that accept Bitcoins and many who don't. The best way to find out is to ask or do a little of your own research but keep in mind that the list of businesses that accept Bitcoins is constantly changing.
If you need to pay for your cable bill, Dish Network will take your cryptocurrency. Want to do a little online dating? OKCupid is happy to take your Bitcoins. Like to do a little online gambling research at OnlineCasinoBluebook.com to determine the casinos that allow Bitcoin? You can play poker with your cryptocurrency. Looking for a unique gift on Etsy? Bitcoin is among the list of acceptable payments.
While these businesses are just a fraction of those who accept Bitcoins, it's clear that cryptocurrency is popular with all types of businesses, not just entertainment or online shopping.
If you haven't used Bitcoin, give it a try. Thought about investing? Now is as good as ever. The future for Bitcoin looks bright and profitable.
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